DislikedMay 23: we are seeing stronger AUD, NZD and CAD. Buy AUDUSD and NZDUSD Sell USDCADIgnored
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DislikedMay 23: we are seeing stronger AUD, NZD and CAD. Buy AUDUSD and NZDUSD Sell USDCADIgnored
Disliked{quote} Traded with smaller lots instead of one large lot. This way I can also show the hundreds of pips when it hit target but the money will be the same .Ignored
DislikedI know this thread is for TMS but sometimes you cannot ignore fundementals. The dollar is fundementely very weak at the moment and EUR is strong. I think we can be a little more tolerant about high TDI levels on longs with EUR pairs and more tolerant with low TDI levels on USD shorts.Ignored
Disliked{quote} As traders, we should started in the beginning with fundamental analysis of the market, then we need to shift to technical analysis with TMS trading tools. But we all now need to shift to mental analysis. Read Chapter 1 of Mark Douglas book title Trading in the Zone. {image} old post: https://www.forexfactory.com/showthr...38#post7242738Ignored
Disliked{quote} I am more prefer to long AU, not NU, if checking nearby resistance. NU seems just 50 pips away from last MN H, which is 0.7052. AU seems to have more room. However, if checking AN, NU is stronger than AU. So a little hesitant.Ignored
Disliked{quote} Both AUDUSD and NZDUSD are in the same currency pair group and I am not supposed to trade both pairs at the same time. But today I broke my own rule and took the AU trade when market open today. The exception is I have my NU trades protected with some profits and I now target last month's high RN 0.7050 for my final exit. May not get there today but must watch what happens later when London session closing. {image}Ignored
DislikedThink I have found the sweetspot with SL's, I have been using a 50 pip SL on my most recent trades and regularly see them go +20 pips, retrace 40+ and then continue in my direction. Some may say this is too big but I have often seen myself get stopped out with a 35 pip SL and then lose out on winning trades because of it. Below is an example of this morning trades. EURAUD retraced 45+ pips and almost hit my 50 pip SL {image}Ignored
DislikedThink I have found the sweetspot with SL's, I have been using a 50 pip SL on my most recent trades and regularly see them go +20 pips, retrace 40+ and then continue in my direction. Some may say this is too big but I have often seen myself get stopped out with a 35 pip SL and then lose out on winning trades because of it. Below is an example of this morning trades. EURAUD retraced 45+ pips and almost hit my 50 pip SL {image}Ignored
Disliked{quote} "50 pip" is relative, better look at % of ADR example, EURAUD move around 120 pip/day, AUDCAD around 70, GBPNZD around 170.(in average last 100 days) if you use the same 50 pip across different pairs it may result in different results, on lower ADR the TP could not reach, and the bigger ADR pairs could get stopped way too frequently. It may work on EA/EN (50pip, around 40% of ADR(100)), but you may have to tweek this 'distance' across the pairs deppending of your approachIgnored
Disliked{quote} So frustrated with myself....... Ridicule me all you want, I deserve it and in all honesty will probably help me learn my lesson. Got back from work and saw i went from +600 and +253 to +100 on each pair.. this spooked me so I closed and then did the most stupid thing of all. Entered long on EURAUD to try and catch it on the way back up and then got spooked when they went -300 and -110 ( Yes i entered twice out of nothing but pure greed) and closed them both after like 20 minutes. Basically just lost not only profits from this morning sell...Ignored
Disliked{quote} I don't know why you did that, but when your up 500 pips bank and come for another day.Ignored
Disliked{quote} I guess it was just pure greed, probs should have mentioned 500 is pipettes so 50 pips. EDIT- wow i just re read that and realized it may have come across a little patronizing, obviously you know what that 500 pips means... my bad. It wasn't meant that wayIgnored
DislikedCan someone post from where to download ADR indicator , and post where i can learn more about how to use it . It will be highly appreciate .Thanks happy trading .Ignored