Another Day, Another Chair, Another Day in the Office 198 replies
another day another challenge. indicatorCounted() 6 replies
Is FX just another bogus "get-rich-quick" scam ?? 1 reply
blew out another account...Just venting... 55 replies
Okay, did a another insurance company buy another couple hundred million EUR?? 23 replies
Disliked{quote} Whats your thoghts about AUDJPY? I am short and continue risingIgnored
Disliked{quote} That's GREAT news!!! I read so many posts in other AUD threads about people going short or who have been short for weeks thinking some "Big Drop" is about to happen any minute. But week after week A/U just keeping going up. I shake my head at how many pips traders have lost or missed when all they had to do was follow the trend. So it's refreshing to read your post!!! Keep up the great work.Ignored
Disliked{quote} It hurts me to say this because I am short AUD/JPY, but I am now of the view that we will hit 80 - 85 in a very few short weeks... There is nothing that will stop this bullish momentum and to be honest, I think we are moving into another period of accelerated economic growth.Ignored
Disliked{quote} It hurts me to say this because I am short AUD/JPY, but I am now of the view that we will hit 80 - 85 in a very few short weeks... There is nothing that will stop this bullish momentum and to be honest, I think we are moving into another period of accelerated economic growth.Ignored
Disliked{quote} I don't really follow that pair, but just looking at the 1hr chart...it's doing the same thing, Higher Highs and Higher Lows. That selloff down around 84.00 is Higher than the Low on March 10th that was at 83.70ish. So I'd be bullish on that pair as well. Not sure what your risk tolerance is...but you could try and see if it forms a lower high or double top around 86.30. If not, the trend will continue up. Or you can cut your losses now. You're in a tough spot, so really you just have to do whatever is right in your mind and accept the outcome....Ignored
DislikedReally i shorted AJ looking for 40 pips till support around 83.95 and while rising i was adding contracts. Now i am loosing 30% of the account. When i traded this pair i looked the weekly TF and this week was completaly bearish. I am clear that i made a mistake trading like this but sometimes we need to trust on the pivot or resistance reboun . {quote}Ignored
DislikedReally i shorted AJ looking for 40 pips till support around 83.95 and while rising i was adding contracts. Now i am loosing 30% of the account. When i traded this pair i looked the weekly TF and this week was completaly bearish. I am clear that i made a mistake trading like this but sometimes we need to trust on the pivot or resistance reboun . {quote}Ignored
Disliked{quote} Thanks PA. Your posts have played a part in my decisions to buy dips. I've played AUD from both sides, but you are clearly correct that following trend and buying dips is the safest strategy. And I noticed that when many of us, myself included, were selling AUD as it approached previous top of sideways range prices around .7385, you expressed your sympathy at our losses. And there were many of us, TK was by no means alone, but there have been less comments since the break out of sideways range. That break above the side ways range is what...Ignored
DislikedI don't want to beat anyone up here, but you guys need to start looking at the long-term trend. Sure, AUD/USD has been in a downtrend for some time. But when the daily busted through the 200-day moving average early this month, it should have been a warning sign that this baby wants to scream higher. I understand playing against the trend for retracements and bagging pips that way... it's not my thing, but I get it. But even if that's what you were doing (understanding you're swimming against the current), you need to be aware and very careful....Ignored
Disliked{quote} elsensie, I'm still learning and have a long way to go, and the only way i will ever get to where I hope to be is by following the most basic rule which i have read about and seen others discuss, which is to put no more than 2-5% of your account on a trade. Also, be careful of committing too much to trades that run in same direction and depend on same factors, such as AUD/USD, AUD/JPY, because if one drops the other almost certainly will too. Also, when you see compelling indications that you've chosen the wrong direction in your trade,...Ignored
Disliked{quote} The absolute number one BEST thing you can do for your account is to always trade with the underlying trend. And I don't mean the 5-minute timeframe trend.Ignored
Disliked{quote} I second this. And like black opal said, if you are going to trade a higher timeframe...you need to lower your risk on the trade.Ignored
Disliked{quote} elsensie, I'm still learning and have a long way to go, and the only way i will ever get to where I hope to be is by following the most basic rule which i have read about and seen others discuss, which is to put no more than 2-5% of your account on a trade. Also, be careful of committing too much to trades that run in same direction and depend on same factors, such as AUD/USD, AUD/JPY, because if one drops the other almost certainly will too. Also, when you see compelling indications that you've chosen the wrong direction in your trade,...Ignored
Disliked{quote} Absolutely. I always recommend trading the 1-hour and 4-hour timeframes but taking queues from the daily for direction of trend.Ignored
Disliked{quote} It hurts me to say this because I am short AUD/JPY, but I am now of the view that we will hit 80 - 85 in a very few short weeks... There is nothing that will stop this bullish momentum and to be honest, I think we are moving into another period of accelerated economic growth.Ignored
Dislikedok, regarding the A/U...lets be realistic here, we just had a 200 pip rally nearly straight up(just a little consolidating area around .7550). In order to "buy the dips" we need a dip. We just got a nice 1hr bearish pinbar, it's possible we could get a pullback towards .7500 to form another Higher Low. Next couple of 1hr candles will give us a clue. We may even get a retest of the highs around London open unless they make a new high. Either way, trade smart!Ignored