The ForexMick Trade Journal- Jacko style 198 replies
Trading Euro ONLY for Jacko Style traders 111 replies
theadam('s) Jacko style, Live trade journal. 5 replies
forexben's eurusd jacko style journal 7 replies
Jacko style trades (collective journal) 12 replies
DislikedWell I am in at .9443 I couldn't resist giving this AUD a crack. too tempting really given the shenanigans of the EURUSD of late.
I Have a fixed S/L just below the last bottom at .9410 and a 45 pip TSL.
Lets see....Ignored
DislikedWhy would the forecast be so much lower than previous? Is it a 'freebie' for the Aussie?
9:30pm AUD
Retail Sales m/m
Forecast 0.1%
Previous 0.7%Ignored
DislikedWell my s/l proved a little on the tight side but I survived the bad data in the wee hours.
The fundamentals do not look good for this trade however and I think good usa data later could sink the trade well below my s/l.
Before Jacko taught me to sit on my hands, I would have been tempted to take a small profit on this and seek another opportunity. Like the EUR/USD, the sudden strengthening of the Dollar is thwarting our trend resumption.
Ignored
DislikedWell, you arent risking many pips so thats good. It is worth a try I think, as I said good r:r. I am waiting to see if the bottom is broken on this dip or if we close above the low (4hr +) before making new highs, then I will get in again. Same with eur. And you know I dont think its so bad to take profit although I find it difficult to do so, but you could take profit after you reach the distance to your stop ie if your stop is 45 take some off the table at +45 and just leave your stop where it is...then move it up as the market proves you right. Worst case scenario would be breakeven and your trade would have more room to move. This is a take profit strategy used on the DIBS thread, but I think it could be applied to longer term trades as well. Possibilities possibilities...RazIgnored
DislikedIt seems that my thoughts in my post before last came to fruition. Stopped out. but in fairness it was a bit tight s/l as the 9400 hasn't been breached as yet.Ignored