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Trading aud/nzd successfully

  • #1,421
  • Feb 19, 2009 5:17pm Feb 19, 2009 5:17pm
Quoting forexisfx
it's getting boring in audnzd. I miss the big move like the last few weeks. Hopefully we get some big news and it move 250+ pips

Too quiet = not much money earn
The move is sweet, finally some big move for money this week
  • #1,422
  • Feb 19, 2009 5:18pm Feb 19, 2009 5:18pm
Quoting forexisfx
The move is sweet, finally some big move for money this week
If it retraces I'd agree with you but if it doesn't I wouldn't be so happy. We will have to see what happens in the next hour or so.
  • #1,423
  • Edited 5:38pm Feb 19, 2009 5:24pm | Edited 5:38pm
Quoting Verto
If it retraces I'd agree with you but if it doesn't I wouldn't be so happy. We will have to see what happens in the next hour or so.
It will retrace, look at 4H chart, it's hitting some heavy resistance. However, if it break those resistance or the hot news continue add something new it might blast off. I think this kind of move is not that dangerous. Big move in short period of time is quite "safe" for me. I only worry about those which slowly trend off the line.
  • #1,424
  • Feb 19, 2009 5:37pm Feb 19, 2009 5:37pm
Everyone glued to the screen.
  • #1,425
  • Feb 19, 2009 5:50pm Feb 19, 2009 5:50pm
Quoting forexisfx
audnzd seems to bounds very nicely with tight range, is it the quiet before the storm ? Very tempted to trim down setting and get more trades.
Looks like the storm happened. Luckily I didn't change any of my setting
  • #1,426
  • Edited 6:20pm Feb 19, 2009 5:55pm | Edited 6:20pm
Quoting forexisfx
Looks like the storm happened. Luckily I didn't change any of my setting
I was just about to quote that post and say it was lucky you didn't change any of your settings.

This pair is interesting... normally you see something like this if a/u or n/u moves on its own quickly but we didn't have anything like that happen.
  • #1,427
  • Edited 6:12pm Feb 19, 2009 6:01pm | Edited 6:12pm
Quoting Verto
I was just about to quote that post and say it was lucky you didn't change any of your settings.

This pair is interesting... normally you see something like this if a/u or n/u moves on its our quickly but we didn't have anything like that happen.
Yeah, i immediately looked at AUDUSD when I saw the big move.
  • #1,428
  • Feb 19, 2009 7:12pm Feb 19, 2009 7:12pm
I need a major retracement to save my ass ...
  • #1,429
  • Feb 19, 2009 7:15pm Feb 19, 2009 7:15pm
Quoting Schminner
I need a major retracement to save my ass ...
How far do you need to retrace?
  • #1,430
  • Feb 19, 2009 7:19pm Feb 19, 2009 7:19pm
Halfway from the initial spike to it's peak, so around 1.2615 ...
  • #1,431
  • Feb 19, 2009 7:30pm Feb 19, 2009 7:30pm
I hope the London session doesn't push this thing up even further ...
  • #1,432
  • Feb 19, 2009 7:38pm Feb 19, 2009 7:38pm
Ka Ching.

My curve is a little choppy because I tend to get out just before a major red flag news item. This is a 2 week chart trading live.
Attached Image (click to enlarge)
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  • #1,433
  • Feb 19, 2009 7:41pm Feb 19, 2009 7:41pm
Quoting Schminner
I hope the London session doesn't push this thing up even further ...
Maybe Bob would have some good advice on how to handle your situation. Using a recovery ea maybe.
Verto, White, Any ideas
  • #1,434
  • Feb 19, 2009 8:21pm Feb 19, 2009 8:21pm
Quoting Schminner
I need a major retracement to save my ass ...
Quoting Schminner
Halfway from the initial spike to it's peak, so around 1.2615 ...
what setting are u using ? IMO, the retrace u need is quite big. However, looking at the chart, it look possible to reach around the price you want.
  • #1,435
  • Feb 19, 2009 8:33pm Feb 19, 2009 8:33pm
Quoting forexisfx
what setting are u using ? IMO, the retrace u need is quite big. However, looking at the chart, it look possible to reach around the price you want.
I'm not using the EA, but manually setting it up similar to the EA. Yeah, hoping for that retracement is possible, but probably better off closing all positions with some losses and start over again ...
  • #1,436
  • Feb 19, 2009 8:38pm Feb 19, 2009 8:38pm
Quoting Schminner
I'm not using the EA, but manually setting it up similar to the EA. Yeah, hoping for that retracement is possible, but probably better off closing all positions with some losses and start over again ...
u are doing 30x20 manually ? How many level ? Try to use the EA, IMO trading audnzd manually is hard becoz it move very fast. I think u have to change ur manual setting a bit becoz if this kind of softcore move get you into trouble, how are you able to handle hardcore move ?
  • #1,437
  • Feb 19, 2009 8:45pm Feb 19, 2009 8:45pm
Quoting forexisfx
u are doing 30x20 manually ? How many level ? Try to use the EA, IMO trading audnzd manually is hard becoz it move very fast.
I only have 2 positions opened. One at 1.2605 and the other at 1.2640 of equal size lots ...
  • #1,438
  • Feb 19, 2009 8:47pm Feb 19, 2009 8:47pm
I don't think this thing is going to come back down anytime soon ...
  • #1,439
  • Feb 19, 2009 8:52pm Feb 19, 2009 8:52pm
Quoting Schminner
I only have 2 positions opened. One at 1.2605 and the other at 1.2640 of equal size lots ...
Ok, if ur lot size isnt big and your account is not down a lot, u think about this.

For now, try using 50x35, x2, number of level u decide depending on ur account size. u are only 2 level so it's quite easy to fix, at least for me. If u do this, u can exit without loss or small profit around Euro session. If u wanna take a break even, u can lower your TP till it hit break even, if u are not sure where is the break even TP, watch your trade and when your trades break even, close all.
  • #1,440
  • Feb 19, 2009 8:58pm Feb 19, 2009 8:58pm
Quoting forexisfx
Ok, if ur lot size isnt big and your account is not down a lot, u think about this.

For now, try using 50x35, x2, number of level u decide depending on ur account size. u are only 2 level so it's quite easy to fix, at least for me. If u do this, u can exit without loss or small profit around Euro session.
I might give it a try, but I'll wait for now to see if it will drop enough just to exit at breakeven or small loss ... Also, my account would be under tremendous pressure if I double up ...
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