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Trading aud/nzd successfully

  • #1,441
  • 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. 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.
If no big news happen, u can exit fairly easily.
  • #1,442
  • Feb 19, 2009 9:01pm Feb 19, 2009 9:01pm
Quoting Schminner
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 ...
It looks like you put too much money in initial level. That is very bad practice.

There is tons of setting u can try to figure out, u can try 60x35, x1.4 to get small loss or break even.

Whatever setting u gonna use, just make sure u have enough margin to hold out the trade.
  • #1,443
  • Feb 19, 2009 9:06pm Feb 19, 2009 9:06pm
Quoting forexisfx
It looks like you put too much money in initial level. That is very bad practice.

There is tons of setting u can try to figure out, u can try 60x35, x1.4 to get small loss or break even.

Whatever setting u gonna use, just make sure u have enough margin to hold out the trade.
What's most importance is that you have learn something through this trades u are having now and do some changes to cater for situation like this in the future. Also, think about what will you do if this happen again.
  • #1,444
  • Feb 19, 2009 9:13pm Feb 19, 2009 9:13pm
Quoting forexisfx
What's most importance is that you have learn something through this trades u are having now and do some changes to cater for situation like this in the future. Also, think about what will you do if this happen again.
It's a costly lesson ... I hope I will survival this situation ...
  • #1,445
  • Feb 19, 2009 9:15pm Feb 19, 2009 9:15pm
Quoting Schminner
It's a costly lesson ... I hope I will survival this situation ...
I been through this before 3 times. All 3 times i put my account where it left less than 200% available margin. One of the time I let my trade run to around -$2000+ USD and I trade my way around to a loss of -$980+. I guess i never learn my lesson, haha. I guess I'm a lucky man to still have my account after nearly close to blowing up my account 3 times.
  • #1,446
  • Feb 19, 2009 9:29pm Feb 19, 2009 9:29pm
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
Looks like this week is not boring after all. Glad to see it have big move for me to cash in some money this week. Hopefully, today gonna get 200+ pips move again

If there is no new trades 3 hours before USA session, I'm done for this week
  • #1,447
  • Feb 19, 2009 9:32pm Feb 19, 2009 9:32pm
Quoting forexisfx
I been through this before 3 times. All 3 times i put my account where it left less than 200% available margin. One of the time I let my trade run to around -$2000+ USD and I trade my way around to a loss of -$980+. I guess i never learn my lesson, haha. I guess I'm a lucky man to still have my account after nearly close to blowing up my account 3 times.
This is my 2nd time going through this hellish situation. I should have just stayed out of that crazy news today. It's great that you've managed to turn -2000 to only -980, that's a 1100 gained or saved ...
  • #1,448
  • Feb 19, 2009 9:35pm Feb 19, 2009 9:35pm
Quoting Schminner
This is my 2nd time going through this hellish situation. I should have just stayed out of that crazy news today. It's great that you've managed to turn -2000 to only -980, that's a 1100 gained or saved ...
yeah. I think i have improve a lot after getting close to blow up 3 times and I think it's not gonna happen anytime soon. After watching and trading audnzd for many months, i kinda get a feel for this pair.
  • #1,449
  • Feb 19, 2009 9:38pm Feb 19, 2009 9:38pm
Quoting Schminner
This is my 2nd time going through this hellish situation. I should have just stayed out of that crazy news today. It's great that you've managed to turn -2000 to only -980, that's a 1100 gained or saved ...
right now, if it break the current resistance, it gonna go quite high. If it didn't break, it gonna go way down to close to where it started the blast up

Change to 4H chart and u can see the resistance without any indicator.

U can see that in previous weeks, if it didn't break, it just gonna go back to where it started.
  • #1,450
  • Feb 19, 2009 9:41pm Feb 19, 2009 9:41pm
Quoting forexisfx
right now, if it break the current resistance, it gonna go quite high. If it didn't break, it gonna go way down to close to where it started the blast up
I'm hoping it does not break resistance, but will just have to wait and see ...
  • #1,451
  • Edited Feb 20, 2009 12:41am Feb 19, 2009 10:56pm | Edited Feb 20, 2009 12:41am
If current fluctuations have to be handled, we have to switch to the lower time frame. If you switch to M5 or M15 chart and 120MA (even 80MA), we can see that the latest movement has been along the Median and first Sell trade would have been at 1.2635 which I feel is quite manageable. Even M15 is viable option. So many variables but we will have to fine tune this system to handle situations.
"Put all your efforts in becoming effortless"
  • #1,452
  • Feb 20, 2009 4:17am Feb 20, 2009 4:17am
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. 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.
Quoting Schminner
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 ...
If u took my advice earlier, i think by now u should have exit easily with some profit. Hope u did loss much money.
  • #1,453
  • Feb 20, 2009 4:25am Feb 20, 2009 4:25am
my all trades cleared for TP and I'm done for this week. Hopefully next week we'll get some big volatility and make some money.
  • #1,454
  • Feb 20, 2009 4:32am Feb 20, 2009 4:32am
Quoting forexisfx
Hopefully, today gonna get 200+ pips move again
Wow you really want your account to blow up don't you?

This is NOT a trend following system.

Do you guys think Bernanke will move this pair on tuesday?
  • #1,455
  • Feb 20, 2009 4:37am Feb 20, 2009 4:37am
Quoting Tjpld
Wow you really want your account to blow up don't you?

This is NOT a trend following system.

Do you guys think Bernanke will move this pair on tuesday?
Big move = money. Yeah i know this is not a trend following system. I knew this becoz I have been trading this EA live since Nov. 2008 and my account survive through 3 times very close blow up situation. I like big moves becoz it bring in big money fast.
  • #1,456
  • Feb 20, 2009 4:38am Feb 20, 2009 4:38am
i dont know he seems to move the market when he opens his mouth
the markets moving, time to get in!
  • #1,457
  • Feb 20, 2009 10:48am Feb 20, 2009 10:48am
Quoting forexisfx
If u took my advice earlier, i think by now u should have exit easily with some profit. Hope u did loss much money.
I didn't open a 3rd position, but just rode it out .... it came very close to breakeven so I decided to take it and be happy with a minimal loss. At least, I'll live to trade another day ...
  • #1,458
  • Feb 20, 2009 11:18am Feb 20, 2009 11:18am
Damn, if I kept those positions opened until now, I'd be in profit instead of minimal loss. Oh well, better safe than sorry ....
  • #1,459
  • Feb 20, 2009 12:13pm Feb 20, 2009 12:13pm
I plan using this ea on Liteforex account.
Any idea if it would work with 30 pips spread having there.

Would I need any specific settings?

Thanks for help
  • #1,460
  • Feb 20, 2009 12:27pm Feb 20, 2009 12:27pm
What just happened? that was a huge plunge all of a sudden ....
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