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Joined Jul 2006
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Status: master your setup, master your self
|248 Posts
Well i hold on to EURUSD till today and closed it for a loss as price are bullish and i dont see it coming dwn despite the PB. Well it wast the nicest pin but i took it coz of the confluences around it.
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Joined Jul 2006
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Status: master your setup, master your self
|248 Posts
A little short explaination on the yen and swissy. It wasnt the best set up in terms of RR as there isnt a lot of space for price to move, plus its counter trend. Worse, fundamentally i been bearish USD for the longest time. But i decided to take it (50% of normal lot) as the RR can be at least 1:1.5 and the PB looks good from my charts. Still it wasnt the best set up.
Looking back, EUR shld be closed yesterday manually! as the 2nd day bar wasnt bearish nor did price support the bear unlike the other crxs. I wasnt discipline enough to close it thinking " I COULDNT BE WRONG"" and hoping (urghhh!!! newbie mistake!!!! )
Something to learn, if 2nd day price didnt work out as planned or indicate my direction, it will be best to close it at breakeven, or even small lost when possible. EURUSD did the most damage for tonight trades.
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Joined Jul 2006
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Status: master your setup, master your self
|248 Posts
Finally all pairs have stopped ranging and got moving! Learning from previous lesson (to be patience and not pre-mature clse open trades), i am on the boat for the break.
The pairs i played : EURUSD, GBPUSD, USDCHF, USDJPY (yes yes some of them are kinda of co-related, yes yes i know of the risk as well.)
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Joined Jul 2006
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Status: master your setup, master your self
|248 Posts
was targetting much lower, but i moved my stop and got stopped out later when price retraced back. well stop placement is something i need to figure out later on...step by step...
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Joined Jul 2006
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Status: master your setup, master your self
|248 Posts
It's been a good trades that i stick to my plan learning from previous lesson whereby i closed my positions too early only to see prices took off. this time i sticked around and got rewarded.
Lesson for this batch of trades are more on stops and RR. Alot of times, i got jittery and wanted to close more of my positions to cash in $ or place my stops too tight (daily TF). Also i know my RR is less then ideal. Something that i need to work on more but have not figured it out well. It could be due to discipline or i need to go in a lower TF for entry? huuummm
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Joined Jul 2006
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Status: master your setup, master your self
|248 Posts
wooow...i was inactive for a year with only 8 real trades (not posted here)...
work has been punishing and i was back in school...juggling wasnt easy...lost a no of golden opporunities in stock and FX...hope to do more real time trading now and post more trades when time permits...
After a year...winning ratio is higher then loosing trades Yet to do the actual maths...but my account $ are in the positive area.
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Joined Jul 2006
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Status: master your setup, master your self
|248 Posts
Well well...nothing exceptionally now...but market seems ready for a big move. Look at the chart.
EURUSD - Up or down?
1) Divergence in the weekly. If u go down to daily, u will see market has been ranging recently, that MAY indicate it is getting ready for the next big move.
2) Confluence
3) Monthly indicatte 2 dojis at 50% fib. interesting.
4) Monthly charts indicate a possible H&S
5) all MAs are up
My Preference: Correction on the daily, Upside on the weekly and mnthly(neckline to be tested)
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Joined Jul 2006
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Status: master your setup, master your self
|248 Posts
EURUSD
Daily - PB indicate possible reversal
Weekly - Strong movement with a good bar cut on 200MA
4hr - no signal from 4HR. Trend continuation despite MCAD showing weakness.
Action: wait. Possibly a weaker uptrend unless 4HR have a signal
GBPUSD
Daily- strong bar downwards.
Action: wait for signal to go in
USDCHF
Daily- A Good PB near support
Weekly - short trend continues
4HR - MCAD indicate upward movement
Action: a signal to go long