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  • #28,861
  • Apr 16, 2019 4:15am Apr 16, 2019 4:15am
EC there she goes
Just trying to put a kiss on the cheek of success
  • #28,862
  • Apr 16, 2019 4:19am Apr 16, 2019 4:19am
Hello,

I am new in this thread and first of all a big thank you to Davit and all the other contributors. It is simply amazing. I spent the last few weeks reading up and trying out the system myself. Still trying to get the hang of it. It looks simple on the outside, but has a lot of little intricacies you have to consider.

From what I learned so far is that we trade swings at the 61-100 level. If PA agrees we then pull the trigger and scale into positions (setting a "money stop" rather than a "pip stop"). We also, as a big part of the system, factor in news events and the possible impact it can have, since those are often creating setups. If we have a ranging market, the price more often than not bounces between S38 and R38.

Considering all of this, I have a question regarding a trade a lot of you made yesterday. It's the "low hanging fruit" AJ trade. I'm eager to learn so that's why I'd like to know the reasoning behind it. I too took the trade (admittedly because I saw it here), but then I thought it's in violation of the basic rules. What am I missing? I closed my trade way to early (before the big drop to the WP), because I wasn't comfortable regarding the reasoning AND with the AUD Meeting Minutes coming up, I felt like I was gambling. Rule Nr 1 is preservation of capital after all.

I'm sure you all took this trade because it presented a good oppurtunity. I just would like to know why. We had/have important AUD Events this week. Did you expect sort of an exhaustion because of last week's rallye?

Thank you in advance and thanks again for this wonderful thread.
  • #28,863
  • Apr 16, 2019 4:21am Apr 16, 2019 4:21am
above my weekly target plan... so relax now
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Take what you can, give nothing back
  • #28,864
  • Apr 16, 2019 4:22am Apr 16, 2019 4:22am
closed AJ need my margin for other trades since this obviously not moving south
Happy with the gain 845 in 8hrs
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In trading, you have to be defensive and aggressive at the same time
  • #28,865
  • Apr 16, 2019 4:23am Apr 16, 2019 4:23am
EC and EU closed at TP because of spike due to the unexpected news.

"Anything can happen." Mark Douglas
Fortune favors the brave.
  • #28,866
  • Apr 16, 2019 4:30am Apr 16, 2019 4:30am
Quoting MrAnderson
Short EUR/CAD: Target:1.503 {image}
with you
  • #28,867
  • Apr 16, 2019 4:30am Apr 16, 2019 4:30am
Closed EC, standing on the sidelines until rednews on wed and thu!

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  • #28,868
  • Edited 5:08am Apr 16, 2019 4:48am | Edited 5:08am
Changed target to R38 (don't want to get too greedy)
Will wait for a possible bounce off the 38 and reload after CAD news on Wed.
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  • #28,869
  • Apr 16, 2019 4:48am Apr 16, 2019 4:48am
Exellent PP trade
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  • #28,870
  • Apr 16, 2019 4:49am Apr 16, 2019 4:49am
Quoting esk1mooo
Noticed there's been some positive/negative swap chat over the past week or so. Just thought i'd share a really simple tip that I've used in the past to help me quickly analyse what my preference for a currency pair is: coloured backgrounds! I've been thinking a lot recently about only trading the direction of positive swap to try and grow the account gradually as much as possible, it may also help prevent over-trading if waiting for specific...
Nice idea with the background colours, might have to steal that one.

Also still riding the EC, might as well take advantage of positive swap ay lads

Cheers Nigel
  • #28,871
  • Apr 16, 2019 4:55am Apr 16, 2019 4:55am
AUD/NZD: Short
Target range: S78 to S100
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  • #28,872
  • Apr 16, 2019 5:08am Apr 16, 2019 5:08am
EC - NC Check also DO
Refer Page 1428, Post 28,551, Apr 11 8.53am
Check Daily Open is correct!
Check 8.30am CAD News to come!
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  • #28,873
  • Apr 16, 2019 5:23am Apr 16, 2019 5:23am
US Oil - WTI
Can it Close above Daily Open? CAD News + OPEC in the wind!
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  • #28,874
  • Apr 16, 2019 5:26am Apr 16, 2019 5:26am
WTI
https://dailypriceaction.com/daily-s...crew_powered=1
  • #28,875
  • Apr 16, 2019 5:53am Apr 16, 2019 5:53am
EJ
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  • #28,876
  • Apr 16, 2019 5:59am Apr 16, 2019 5:59am
AJ attempting to crack PP...I will take partial profits. AU might have more room for a further downside move. I'll be taking partial profits
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  • #28,877
  • Edited 6:36am Apr 16, 2019 6:00am | Edited 6:36am
NZD Data coming if prints green, would be nice to push AZ down so we can buy at a better price. Currently staying out of CAD pairs because looking at the calender, CAD data is projected to be negative and today's Manufacturing Sales m/m is projetced -0.1%. I would not want to predict what Opec meeting will be about. If they decide to weaken CAD, it would be best to buy it later with positive swap. EURCAD currently at a very nice zone R61-R78. USDCAD also in a ranging market. Maybe a spike up to R78. Good to have an open mind and take what the market will offer.
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  • #28,878
  • Apr 16, 2019 6:13am Apr 16, 2019 6:13am
EC: Will be interesting to see how this H4 candle closes. My EC trades have been swinging from profit to DD. EUR took a punch on news that some ECB wonks think their bosses are wrong on Eurozone's economic outlook. Anyway, I accept risk
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  • #28,879
  • Apr 16, 2019 6:14am Apr 16, 2019 6:14am
Quoting Halfcents
NZD Data coming if prints green, would be nice to push AZ down so we can buy at a better price. Currently staying out of CAD pairs because looking at the calender, CAD data is projected to be negative. I would not want to predict what Opec meeting will be about. If they decide to weaken CAD, it would be best to buy it later with positive swap. EURCAD currently at a very nice zone R61-R78. USDCAD also in a ranging market. Maybe a spike up to R78, good to have an open mind and take what the market will offer. {image} {image}
Agree with you, a bit more PA is needed.
Money is a part of what turns you into who you are.
  • #28,880
  • Apr 16, 2019 7:11am Apr 16, 2019 7:11am
Quoting r61
Loaded some shorts on EC. {image}
EC on the move.

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"In the end you only trade yourself."
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