Could not resist using that heading – I just got back from a long weekend RV trip and part of the entertainment was the festive “National Day of the Cowboy” celebration. As a kid growing up in Alabama, I loved the old Gene Autry cowboy movies. That may be why I got to Texas as soon as I could as an adult!

Leaving on Thursday, I noted that an up movement in the AUSUSD currency pair looked to be imminent. I missed that very nice move – I do not trade except when I am sitting at the computer – and it went right up to the .9300 area as I expected. Hope some of you other traders out there took note and made some money on that very nice move.

The Aussie dollar is one of my favorite currencies to trade and I still think the long term prospects for it are good – but it just can’t find any enduring love these days. Probably because traders still think China is going to slow down their growth considerably in the near term – and if true that would not be good for the Aussie dollar. I wonder if that will be the case. Anyway, that is all the more reason for me to prefer short term trading. I cannot adequately assess all the fundamental data available to me and there is a ton that is not readily available as well.

The basic TBL trading philosophy is pretty simple – take what the market is willing to give me each day – sleep well at night – tomorrow is another day, Scarlett.

 

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