Aussie v US dollar: how to handle a losing trade

Many traders would turn away from a market that handed them a losing trade, says John C Burford. But that would often be a big mistake.

The tramline kiss is one of my favourite chart patterns. It offers superb low-risk trading opportunities in the direction of the prevailing trend.

In my posts of 21 and 23 July, I showed several great examples, and in one of them, I had the AUS/USD chart, which was the one failure that I documented.

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John is is a British-born lapsed PhD physicist, who previously worked for Nasa on the Mars exploration team. He is a former commodity trading advisor with the US Commodities Futures Trading Commission, and worked in a boutique futures house in California in the 1980s.

 

He was a partner in one of the first futures newsletter advisory services, based in Washington DC, specialising in pork bellies and currencies. John is primarily a chart-reading trader, having cut his trading teeth in the days before PCs.

 

As well as his work in the financial world, he has launched, run and sold several 'real' businesses producing 'real' products.