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USD/CAD

hi guys,

i just sell on 1.0179 0.1lots. after few pips up, a resell on 0.0188.
I am curios what move is before us. Did u see huge inside pin pars before this?

Now i am 30 pips in lose, but i hope and believe.

There are same traders?
Hi VennD,
somewhat i expect this to be silly question and probably asked already but why do you hedge your positions buy/sell on tops and bottoms instead of just closing one and opening another (reverse) position? Profits are higher and positions are immediately secured

By the way, very good thread, instructive
Thx
Adam
  • Yuchen
    Joined Aug 2009
Quoting lukasFX
hi guys,

i just sell on 1.0179 0.1lots. after few pips up, a resell on 0.0188.
I am curios what move is before us. Did u see huge inside pin pars before this?

Now i am 30 pips in lose, but i hope and believe.

There are same traders?
how large is your account balance.. your short should be fine, but i still suggest you have a s/l maybe around 1.0240
Quoting Yuchen
how large is your account balance.. your short should be fine, but i still suggest you have a s/l maybe around 1.0240
My account balance is just something around 1000usd. r sl is too high for my risk management, i use 1.0210. Only a few uptrend pips and i would be out. But i dont think so :-) ...beginner :-DD
  • Yuchen
    Joined Aug 2009
Quoting lukasFX
My account balance is just something around 1000usd. r sl is too high for my risk management, i use 1.0210. Only a few uptrend pips and i would be out. But i dont think so :-) ...beginner :-DD
i see... your shorts have small profits now.. but next time, do not try to add one more short for another 10 pips up... i mean, if you have 10,000 dollars and you short 0.1 lot, it is ok if you keep add another 0.1 lot for a few pips up (but you do need to have s/l that make sure you do not lose more than 3%-5% in overall trading, usually 1%-2% is a good money management in my opinion).. but you only have 1000 dollars so that means you trade 0.2 lots it is kind of heavy..
anyway, it is all good and maybe you should close them, collect your profit and wait for next week..
  • VennD
    Joined Oct 2007
Quoting AdamG
Hi VennD,
somewhat i expect this to be silly question and probably asked already but why do you hedge your positions buy/sell on tops and bottoms instead of just closing one and opening another (reverse) position? Profits are higher and positions are immediately secured

By the way, very good thread, instructive
Thx
Adam
Hello AdamG , Sorry for the late reply ... was scalping on other pairs too ... I don't mind about such qstn .../ Looks like Im in control of the forex market , eh ? Don't you know that Im the Forex Director ?

I see that you are interested in EUR/USD ... so ... here is a present for you from Greece . (Im secured with +1,230 pips).
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  • Post# 807
  • Quote
  • Nov 4, 2011 7:04pm | Edited Nov 5, 2011 6:43am – typo / attach / change chart
  • VennD
    Joined Oct 2007
usd/cad @ 1.0184

Same chart as posted in # 783 , (added some minor/major TLs) ...with fresh entries during NFP. Not so much I got this time.... only +437 pips.

Happy weekend to all of you.
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  • Post# 808
  • Quote
  • Nov 4, 2011 7:42pm | Edited Nov 5, 2011 5:54am – typo / change chart
  • VennD
    Joined Oct 2007
Here's my "intervention" in eur/chf (+442 pips)

Sorry SNB ! ... accidently shorted it ... that is called ... Interactive trading ....
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USD/CAD – Bias (W1): Bearish + Potentially Ranging; Bias (D1): Bullish + Ranging; Bias (Overall): Neutral



im looking to add to my existings positions that i have below currnt price. Any thoughts where are good levels to add?
  • VennD
    Joined Oct 2007
Quoting shripsfx
im looking to add to my existings positions that i have below currnt price. Any thoughts where are good levels to add?
Pls show me yr chart , yr analysis, projections , decision ... and why u choose yr dream level ...technically and fundamentally (IF u have) .. then only ... we can talk over abt it
no charts just targeting 1.0850 but in case a pull back occurs Im looking at the most optimal support zone
  • VennD
    Joined Oct 2007
Quoting shripsfx
no charts just targeting 1.0850 but in case a pull back occurs Im looking at the most optimal support zone
U are very funny ... u don't hv analysis chart .... yet u knw the target ! ... so ... why don't u do the same to your "dream" buy optimal level ... as u did to yr "dream" projected target.
  • VennD
    Joined Oct 2007
ok shripsfx ! I don't want to upset u ... I haven't check thoroughly thou, technically and fundamentally ... just glance at the charts roughly ... saw...

minor and major supports @ 1.0149 / 1.0087 + 0.9840 ... as of now. Tomorrow when it makes "miracle" moves .... that will be a different story. Don't blame me for that.

Btw ... what makes u think that UC might go up instead of going down ? Im curious thou ... coz ... I might take your money IF ur wrong
Quoting shripsfx
no charts just targeting 1.0850 but in case a pull back occurs Im looking at the most optimal support zone

There are no fundamental reasons why the market would be making such a big move anytime soon.

The pair should begin ranging now between around 1.0250 and 1.0050 (at least that's what I'm hoping, and what I will be basing upcoming trades around).
  • VennD
    Joined Oct 2007
Quoting VennD
ok shripsfx ! I don't want to upset u ... I haven't check thoroughly thou, technically and fundamentally ... just glance at the charts roughly ... saw...

minor and major supports @ 1.0149 / 1.0087 + 0.9840 ... as of now. Tomorrow when it makes "miracle" moves .... that will be a different story. Don't blame me for that.

Btw ... what makes u think that UC might go up instead of going down ? Im curious thou ... coz ... I might take your money IF ur wrong
Good Morning/Good Evening ... wtever. Nothing amusing from U/C data at this hour ... Asian are still dreaming in bed, I think , but aud/usd has several data of low votalities. Been scalping in there just now. Got few pips ... just enough to buy my cigar, huh !

U/C - Managed to get in long @ 1.0153 + short @ 1.0200 (+47 pips). Wondering if I can get some more pips ... coz today I can only see 2 low votalities data from Japan in 2hrs , and ... US got 1 data of moderate votality in 17hrs ... probably 20-40 pips up and down on this one. Projected by consensus to be favouring USD.

Looking at those candles ... I think as of now .... (just probabilities thou) ...

Sell Orders : 210~240
Buy Orders : 155~183 ... another group of buy orders might be through ... 130.

Too near to each other ... spikes , rockets or submarines might come ... but those are probabilities only. Pls don't take my word for it due to the fact that they might change positions in due course. So ... they're NOT suppose to be permanent in there ...

arios amigos ... I already got peanuts pips !
  • VennD
    Joined Oct 2007
I see that ur in here ... why don't u post a chart ... tell us wt's yr findings in U/C. Projections ... probably ?

When I proposed to you to post chart .... u run away ... afraid to be wrong ? If I were u ... I would throw away my vouchs into the rubbish compartment !... phuuihhh !
  • VennD
    Joined Oct 2007
Tomorrow ... we can hv 1 CAD data and 2 USD data + BoC Gov Carney speaks. I don't knw wt they gonna say ... but overall data was projected by consensus to be favouring USD ... ummp...
At this point ...

World Indices = All Down
Commodites = UP except ... US Soybeans , US Wheat + Natural Gas.
US 2 YR T-Notes = UP
US 10 YR T-Notes = Down
US 30 YR T-Bond = Down
Leading Stocks = All Down
Indices Futures = Down ...except China H-Shares
UK Gilt = UP
Euro Bund = UP

I think some monies are going to EZ and Asia atm..
(edited to add contents)
imo, after failed break top resistance many times, it seems has higher chance to move downside/correction before it go higher..

1. Fail to break 1.0200-1.0220 multiple times
2. Fail to break 1.0180-1.0190 multiple times
3. Next is to retest 1.0130-1.0140 support
4. If break below point 3, we should see 1.0060-1.0070
5. Then last support 1.0000-1.0030 (I believe it should be able to hold)

I expecting it to reach point 4 or 5 by today/tomorrow before it can go higher.. But, if it manage to break above 1.0220-1.0230 convincingly, then it might go higher..
  • VennD
    Joined Oct 2007
Quoting HandsFx
imo, after failed break top resistance many times, it seems has higher chance to move downside/correction before it go higher..

1. Fail to break 1.0200-1.0220 multiple times
2. Fail to break 1.0180-1.0190 multiple times
3. Next is to retest 1.0130-1.0140 support
4. If break below point 3, we should see 1.0060-1.0070
5. Then last support 1.0000-1.0030 (I believe it should be able to hold)

I expecting it to reach point 4 or 5 by today/tomorrow before it can go higher.. But, if it manage to break above 1.0220-1.0230 convincingly, then it might go...
Agreed ! Any R&S tested many times eventually will be weaken ... esp those RES up there. Sooner or later ... it will be blown , also.

attached : U/C 1H & 4H
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