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Trading Aussie Jacko Style

  • #501
  • Aug 28, 2008 11:27pm Aug 28, 2008 11:27pm
Anyone else shorting?? Im lonely..., still have stop at 75, seems to be a comfortable distance above these last 4hr highs...take care, Raz
Never say never.
  • #502
  • Aug 29, 2008 4:54am Aug 29, 2008 4:54am
Quoting razldazl
Anyone else shorting?? Im lonely..., still have stop at 75, seems to be a comfortable distance above these last 4hr highs...take care, Raz
Waiting for my A$ long.... Long in E$ & N$ with AH's.
  • #503
  • Aug 29, 2008 7:56am Aug 29, 2008 7:56am
Quoting razldazl
Well that was fast, in at 0.8625, hard sl 0.8675, lets see where it goes...
OK,
we have been to almost +50 so Im putting my stop to be now, so sl at 0.8625
Never say never.
  • #504
  • Aug 29, 2008 2:30pm Aug 29, 2008 2:30pm
Hi all,
I guess I have to count August as -25, since my AH sell from 0.9625 (currently +48) is still in and the sl is at be now, min loss is 0 but I dont know where it will go...could go +1000 and could go back to 0, so will count August as -25
Never say never.
  • #505
  • Aug 29, 2008 2:51pm Aug 29, 2008 2:51pm
TBH I don't decide until any open positions are closed.
The market reveals who we really are...
  • #506
  • Aug 29, 2008 6:31pm Aug 29, 2008 6:31pm
The AUD/USD has single-handedly negated all profit I had from other trades =-/
Do you think the karate kid knows kung-fu?
  • #507
  • Aug 30, 2008 11:39am Aug 30, 2008 11:39am
Quoting ddblue
The AUD/USD has single-handedly negated all profit I had from other trades =-/
Which pairs have you traded before?

The snag is that AUD/USD has its own characteristics in the way it moves. It helps to understand what the differences are. You can see it in the movement even if you can't quantify it. Put up a chart alongside EUR/USD.
The market reveals who we really are...
  • #508
  • Aug 31, 2008 2:40pm Aug 31, 2008 2:40pm
Hi all,
taking half profit on this trade now at 0.8560, so thats 65 pips x .5 = 32.5 pips on this one plus stop at be for rest, this Gustav hurricane has me spooked...take care, Raz
Never say never.
  • #509
  • Edited 11:43pm Sep 1, 2008 3:02am | Edited 11:43pm
Quoting razldazl
Hi all,
taking half profit on this trade now at 0.8560, so thats 65 pips x .5 = 32.5 pips on this one plus stop at be for rest, this Gustav hurricane has me spooked...take care, Raz
Dropping sl to 0.8600, which locks in 25 full pips plus .5 x 40( .5 x 0.8500-0.8560 already taken)= 20 so 45 pips total now, trade still running...Raz

update: stop at 0.8550 now...= 65 pips plus 10 x .5 = 70 pips locked in trade still running

update 2:

update 3: think my stop is too close so leaving it at 0.8550, 70 pips locked in

update 4: stop at 0.8500, 65 pips + 60x0.5= 95 pips locked in
Never say never.
  • #510
  • Sep 2, 2008 12:58am Sep 2, 2008 12:58am
Ok guys,
this is the beauty of an AH order. My first trade failed with a -25 loss, and when price went 50 beyond my stop I placed my AH order, where I got knocked out. Look at it now! From 0.8625, we are at 0.8350, unreal.

So this trade is doing very well to say the least. My stop is now at 0.8400...damn me for getting spooked by the hurricane news and taking half profit hehe

65 pips, +160 x .5 = 145 pips locked in so far...and the trade is still running, how cool is that, Raz
Never say never.
  • #511
  • Sep 2, 2008 12:59am Sep 2, 2008 12:59am
I'm over 200 pips in the positive at the moment. I don't want to get greedy, but I really have no idea where to take my profits...
Do you think the karate kid knows kung-fu?
  • #512
  • Sep 2, 2008 2:20am Sep 2, 2008 2:20am
Quoting ddblue
I'm over 200 pips in the positive at the moment. I don't want to get greedy, but I really have no idea where to take my profits...
One way you could go about it is to watch and see when we stop making lower lows on a 4hr chart, good chance we are in for a retrace then, and you can take some profits.
I once read that one of the biggest mistakes traders make is to use small stops at the beginning of a trade and wider stops at the end, when it should be just the opposite. A trade needs space to get moving, but then you should protect your hard earned profits. Its hard to know when to do what but those two ideas might help a bit...take care, Raz
Never say never.
  • #513
  • Edited 2:45am Sep 2, 2008 2:25am | Edited 2:45am
bought aud/jpy at 90.........
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  • #514
  • Sep 2, 2008 2:45am Sep 2, 2008 2:45am
I'd say while you're trading small, experiment. (And if you're having to ask such questions, you shouldn't be trading big.)

I prefer the simplicity of a trailing stop at 50-60 pips.
The market reveals who we really are...
  • #515
  • Sep 2, 2008 3:09am Sep 2, 2008 3:09am
Quoting shadowninja
I'd say while you're trading small, experiment. (And if you're having to ask such questions, you shouldn't be trading big.)

I prefer the simplicity of a trailing stop at 50-60 pips.
I am trading relatively small, but it still feels like a big deal to me Anyway, I set my t/p at .8728, and it hit. now it seems to be attempting to slow its descent, so I guess I got sorta lucky. +315 pips, my most successful live trade to date. Too bad I'm still in the red =-/
Do you think the karate kid knows kung-fu?
  • #516
  • Sep 2, 2008 3:24am Sep 2, 2008 3:24am
Just practice good money management and assuming you are improving in your trading, then you will get there. The problem with these big moves is that we can become over-confident which leads us to taking bigger positions that hurt our account more.
The market reveals who we really are...
  • #517
  • Sep 2, 2008 9:59am Sep 2, 2008 9:59am
Quoting razldazl
Ok guys,
this is the beauty of an AH order. My first trade failed with a -25 loss, and when price went 50 beyond my stop I placed my AH order, where I got knocked out. Look at it now! From 0.8625, we are at 0.8350, unreal.

So this trade is doing very well to say the least. My stop is now at 0.8400...damn me for getting spooked by the hurricane news and taking half profit hehe

65 pips, +160 x .5 = 145 pips locked in so far...and the trade is still running, how cool is that, Raz
Ok,
trade hit my sl at 0.8350, so total pips are 65+210x 0.5= 170
Never say never.
  • #518
  • Sep 2, 2008 11:59am Sep 2, 2008 11:59am
Quoting razldazl
Ok,
trade hit my sl at 0.8350, so total pips are 65+210x 0.5= 170
  • #519
  • Sep 2, 2008 12:56pm Sep 2, 2008 12:56pm
Nice one, Razl. How big was your stop then? Are you moving it to above recent highs? If so, why did you choose the final level in the middle?
The market reveals who we really are...
  • #520
  • Sep 2, 2008 1:01pm Sep 2, 2008 1:01pm
Quoting shadowninja
Nice one, Razl. How big was your stop then? Are you moving it to above recent highs? If so, why did you choose the final level in the middle?
Hey SN,
Yeah it was a toss up but I was watching eur and gold at the same time, and I wasnt willing to give back too much, had I left it at 0.8400 it would have been giving back almost 150 pips...so I dropped it to 0.8350. Im happy with my profit, time will tell if I made a rash decision. Take care, Raz
Never say never.
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