My AUDJPY Short is now in some profit but of note is the new PB of Resistance Area which i believe gives more confluence....i will keep holding this for sometime now.
Cheers
Cheers
Silent room 2 replies
Silent Success of Patience 10 replies
My silent journal 4 replies
bo7a method... method for GBP/JPY 205 replies
Seeing Through the Silent Crash 4 replies
DislikedChris, what's your opinion on trading the same pair twice with this longer term trading? What I mean is for example that Aud is looking pretty strong at the moment against the Usd, it's trending upwards against all pairs, some better than others (could be the interest rate thing I mentioned the other day).
I'm currently long AudUsd. If you were me would you take a trade on another Aud pair if it gave you a good signal?
I'm thinking that if a currency is strengthening in general maybe you should take advantage of it and buy it against ALL other...Ignored
Dislikeddo you intend 95 is a weekly ppz or a minor area?
it's indeed a nice round number, but looking at my chart can't see very much week love for this levelIgnored
DislikedHi Eduardo,
Thanks again for indirectly bringing up the topic of risk sizing on the Forex, which I think is important to expand on a bit here, if I may use my progress as an example and hopefully in spirit of this method....Ignored
DislikedMy AUDJPY Short is now in some profit but of note is the new PB of Resistance Area which i believe gives more confluence....i will keep holding this for sometime now.
CheersIgnored
DislikedHi Eduardo,
Thanks again for indirectly bringing up the topic of risk sizing on the Forex, which I think is important to expand on a bit here, if I may use my progress as an example and hopefully in spirit of this method.
....Ignored
DislikedHow is your short coming along? Mine got hunted after i moved my stop...now i just picked 30pips.......it had initially missed my target 78.54 by three pips......
Maybe i should set a new rule that whenever price gets to 5 pips of my target i manually close it......what do you think?Ignored
DislikedHi.
I only have a T/P on countertrend trades and if I just come to the charts and see that I'm just some pips away from my target and intend to walk away again I would with no doubt close the position. If other reasons tell me that it could go a bit further than my initial plan I move the T/P and set the S/L a few pips (10-20) behind. But to be honest this does not work out that often.
Stefan.Ignored
As I use to do, I moved my SL just below the new PB.
I was stoped out at BE
You can see what happened some hours later.
Imagine where I had set my TP: YES, 3.300!
Anyway, still convinced I did the right think, the same I am going to do with the PB that appeared after the PB I took 2 days ago in USDCAD.
DislikedI can tell ya....the only problem with Chris' method, and holding onto your trades, is that you have nothing but ample opportunity to screw it up by messing with it.
LOL.Ignored
DislikedHi guys!
Let me share my pain with you today.
I took a risky trade with natural gas. I was convinced the fall was near to end, and saw a nice BUOB. I got in and set my SL below the lowest price, as usual.
Yesterday I realize my trade was in a risky situation because:
- It was countertrend (I new it before, obviously)
- It made a bearish PB
- Today we had gas stock report
As I use to do, I moved my SL just below the new PB.
I was stoped out at BE
You can see what happened some hours later.
Imagine where I had set my TP: YES,...Ignored
DislikedI can tell ya....the only problem with Chris' method, and holding onto your trades, is that you have nothing but ample opportunity to screw it up by messing with it.
LOL.Ignored
DislikedInteresting that you mention this. Sam Seiden, instructor from Online Trading Academy, a very focused S/R trader, reversed the tables so to speak, with regard to those like me who have a day job. He said making a trade and then not being able (due to a job) to monitor it for the day actually eliminates traders' emotions as a factor. So rather than looking at not being able to manipulate the trade as a curse, we should look at it as a blessing.Ignored
DislikedCW: Good stuff. Big game for the Ohio State this weekend. I am leaning towards USC, should be a good game. Good Luck!
Hey, am I being too careful here? Aud/Jpy reacted to 50% retrace on big move south and I am not getting in due to some minor resistance (see 4 hr chart below) at 79-78.5 area and 76.5-77 area. Price broke through a little rectangle or ledge recently. Thoughts on this pair right now?? I trade based on dailies mostly (see the daily below).
Thanks as always!Ignored