1/7 trading journal

I close the gold position but I have to stop loss the AUD/USD neglecting the fact that the Aisan Stock market will have greatly impact on AUD currency pairs since Australia  export commodities and a lot of steel to China. And apart from that, the Sydney market is closely related to China's market at the time zone, if all the markets in Asia perform worst than the market, and this will provide a very strong support for YEN. Yesterday, the trade balance for AUD is -0.12 billion, which means (import-export) this gains the surplus on the trade, and it is not a good sign for the AUD due to the demand-supply. Today, US also released the trade balance which is also very important and the actual release is better than the previous so it is quite good for the USD dollar.

The second fact I have to mention is that the fluctuation during the release data  can be huge, like yesterday, when the ISM released, this data caused the GOLD to drop dramatically and if  you don't place any stop loss order on it, you may suffer a great loss on this.

Anyway, the trading rules in USA is a little bit different from other countries and the orders follow the FIFO rules to do it . So if you know this rule, please adjust the leverage and positions in trading any pairs of currencies.

And also, the difference between the FSA(The regulation of currency in London) and USA is that FSA can allow more leverage and lower margin level on the premiums. Like Oanda, the customers must assure the 50% of the margin but Iron Forex is only 20%, so the USA regulation will be more stricter than any other countries. And also, Onada didn't provide any gold leverage on trading, so be careful when you sail the ship.

Based on the technical analysis, the gold will be dropped a little bit and EUR I will leave an empty position today.