I’ll be honest; I’m not really feeling at one with the forex markets at the moment. I’m not losing badly; in fact I’m still making a bit, but only with scrappy low quality trades. Having just written about the need to plan trades and assess the risk/reward ratio, it doesn’t feel right just ‘goal-hanging’ and trying to nick the odd £20.

This morning GBP/USD showed a good downtrend line with a range just shy of 100 pips; an ideal trading scenario, yet I seemed to be scrambling around just to make £66.

The recent trends, despite looking great on the end-of–day charts haven’t suited my style. The past few mornings I’ve been a bit like Peter Crouch in the penalty area; I know what to do but I can’t quite see where. There’s been a lack of good S&R lines or moving averages to trade off and it’s shown in the quality of my trades. I’m just duckin ‘n divin like Del boy, trying to pay for the Weetabix and toothpaste.

I had a better trade this afternoon, buying GBP/USD when it bounced from an oversold position.

I waited until the recovery took the price above the downtrend line before buying £2 at $2.0359. I took my profits, selling at $2.0381; if I’m uneasy in the markets I’m certainly not going to hang around for long with my capital exposed.

I might avoid trading tomorrow. One of the rules of successful trading is that you have to be mentally right (ironic laughter from the missus) otherwise you lack belief in your trades. I’ve been lucky; I made £110 today. It would be nice to keep it for the weekend.

Hell hath no fury like a nation let down by its rugby players. My inbox is overflowing with cheap shots at the All Blacks, many from the land where men are men and the sheep look worried. Here’s just one of many:

Did you hear about the politician who was found dead in an All Black jersey?
The police had to dress him up in women’s underwear in order to save family from the embarrassment.