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- Magic46 replied Jan 7, 2011
Huge drawdowns? — Huge drawdowns no matter how nice the EA will wipe you out within 1-3 months. I would suggest trying to learn to trade price action in conjunction with money management. I don't recommend a website or want to make money off ...
- Magic46 replied Jan 7, 2011
Not a good idea. — I don't post much, but feel I should on this threrad. This is a sure fire way to get whipsawed on NFP days. If you would have entered your orders as you suggested, you would have been in the market with a sell (using E/U as ...
- Magic46 replied Sep 11, 2009
Thanks — I browse forexfactory.com on occaision mainly for the calendar, and don't look at the forums much, or say much, but as a PA student for a few years now, I find Strats thread very informative and on target. I especially appreciate ...
- Magic46 replied Sep 11, 2009
I have traded breakouts for a few years now and got started with this style by watching threads on this forum. What I found was that I needed three rules in order to be successful trading BO's. 1. TP must be greater than SL. I personally like my ...
- Magic46 replied Jul 23, 2007
Buying the dips — Buy the dips, even with US positive news. I doubt we have seen the top yet. Let's keep an eye on the daily and if it breaks the daily high then I'm on ths sidelines. Until then I'm long from 488.
- Magic46 replied Jul 10, 2007
Absolutlely correct. You make good points. Money management is key. Thanks for pointing that out. Each trader is different however, and most will lose...yes get margined out, and blow up accounts because they can't handle trading period,,,let alone ...
- Magic46 replied Jul 10, 2007
Smallest concern? — With carry traders interest is the king....and they will be buying all the way down and then collecting all the way up. We don't care how much it goes down, because it will come back up with a vengance!! That being said, I ...
- Magic46 replied Jul 10, 2007
When carry trades sell off it can be quick...like today. Noone wants to pay interest when they can earn interest. Buying could be just as quick.
- Magic46 replied Jul 10, 2007
Wow, quite a ride. I can't remember a ride this nice in a few months. Could it be the start of something, or a sizeable retracement short term?
- Magic46 replied Jul 8, 2007
short term play is sell the 10 pip or so gap opening. If I get in profit will establish a long term south position.
- Magic46 replied Jul 8, 2007
Buy the pair when intervention occurs and buy again and again. Any currency that relies on intervention is a very easy play.
- Magic46 replied Jul 6, 2007
The pair has been bouncing around in the middle of a range, but still favor the upside at this point....especially after the pair did not listen to the news today from the US.
- Magic46 replied Jul 5, 2007
nice hourly pin bar — Good r/r long opportunity from here (.8570ish).
- Magic46 replied Jun 29, 2007
Liking the short on this pair after a brief break of the 90's high. We'll see what happens next week. I like it because the daily, 4h and the hourly are all sell, sell, sell....although please beware of the carry trade rules....which are that the ...
- Magic46 replied Jun 28, 2007
I doubt the carry trades can dip too much because of the amount it costs daily to sell any of the pairs. For those of you who don't know the amounts, it can be hundreds of dollars per day or more for the multiple lot traders. That being said, I'm ...
- Magic46 replied Jun 28, 2007
Good call Bravado. Short term charts in my system have turned bullish, I'm interested to see if the pair will break through recent high of .8514 or retrace. Watching and waiting.
- Magic46 replied Jun 27, 2007
Still selling the pair on bounces. Whether or not it will break support at .8330..ish is still to be seen. For the longer term trader look for a break of .8330 toward the .8100's.
- Magic46 replied Jun 27, 2007
Anybody else selling the bounces..Sold the recent bounce to .8420 and holding on for the ride.
- Magic46 replied Jun 26, 2007
Took some profit — Thanks, took some profit and will await for a bounce north and re-enter south. Today was a big step forward for a nice dip. Have we seen the top for awhile? I think we have for the short term at least.
- Magic46 replied Jun 26, 2007
Yup, 8496 was my last sell of the A/U pair. We'll see what happens with the Yen...I'm skeptical betting long the yen (shorting the yen pairs), but all of the pairs are extreemly OB, so have a couple of short positions with the E/J, and G/J. I think ...