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  • #7,201
  • Oct 20, 2009 10:28pm Oct 20, 2009 10:28pm
send the scout in to the battle field

http://img01.imagefra.me/img/img01/2...um_1c75780.png

got to go ! see you all tonite, Ciao!
  • #7,202
  • Oct 21, 2009 1:24am Oct 21, 2009 1:24am
Is $50k AUS enough to start a formal live account?

1) Trade 1H,4H and Daily charts only, long term trading.
2) With the trend only.
3) Small positions for a quarter to prove efficiency.
4) Only aud:usd pair to begin.
5) Trading diary kept of trades and emotions.

Does this sound sensible and/or fesible?

Cheers, appreciate the feedback.

Oh and still long from 9212
  • #7,203
  • Oct 21, 2009 1:54am Oct 21, 2009 1:54am
  •  G_Man
  • | Joined Aug 2009 | Status: getting ready for the next Battle | 781 Posts
i dont think she will break 9260 ...

she will only go down for rest of the week ... its started from yesterday ...
  • #7,204
  • Oct 21, 2009 2:03am Oct 21, 2009 2:03am
is AUD/USD will be going sideways tonight?
Success consists of going from failure to failure without loss of enthusiam
  • #7,205
  • Oct 21, 2009 2:13am Oct 21, 2009 2:13am
Quoting G_Man
i dont think she will break 9260 ...

she will only go down for rest of the week ... its started from yesterday ...
what made you believe so Gman?
Success consists of going from failure to failure without loss of enthusiam
  • #7,206
  • Oct 21, 2009 2:14am Oct 21, 2009 2:14am
Got out of my Long position at 9248 with 20 pips profit..Will be looking for a good Long entry again!!!
  • #7,207
  • Oct 21, 2009 2:15am Oct 21, 2009 2:15am
its approaching 9260...
Success consists of going from failure to failure without loss of enthusiam
  • #7,208
  • Oct 21, 2009 2:32am Oct 21, 2009 2:32am
Quoting dongsky
its approaching 9260...
Pushed through and struggling to break 80
  • #7,209
  • Oct 21, 2009 2:35am Oct 21, 2009 2:35am
Quoting WestAus
Pushed through and struggling to break 80
9260 was R1 & 9280 is R2, if it breaks it which i think it will in few minutes, the next BIG thing is R3 i.e 9300 ..Lets see...

By the way I just opened a Long at 9276!
  • #7,210
  • Oct 21, 2009 2:37am Oct 21, 2009 2:37am
Quoting Pak Tiger
9260 was R1 & 9280 is R2, if it breaks it which i think it will in few minutes, the next BIG thing is R3 i.e 9300 ..Lets see...

By the way I just opened a Long at 9276!
Are you getting your S and R levels from your trading programm or u make them urself?
  • #7,211
  • Oct 21, 2009 2:39am Oct 21, 2009 2:39am
Quoting Pak Tiger
9260 was R1 & 9280 is R2, if it breaks it which i think it will in few minutes, the next BIG thing is R3 i.e 9300 ..Lets see...

By the way I just opened a Long at 9276!
Long or short?!

if it is long you are targeting 9300 ?
  • #7,212
  • Oct 21, 2009 2:39am Oct 21, 2009 2:39am
I reckon FTSE and DOW will test 5300 and 10200, with anticipation of earnings reports coming out

A/U will test new high and probably set new high.

If break above the index resistance suceeds, then long. If strong rebound then short, and A/U will significantly retrace closer to daily trendline.
  • #7,213
  • Oct 21, 2009 2:41am Oct 21, 2009 2:41am
Quoting WestAus
Are you getting your S and R levels from your trading programm or u make them urself?
I get it from my Charting software that is provided by my Broker. I also use Pivot Points to determine these S & R levels. The the numbers i just gave are based on my 4H chart . ACtually R3 is at 9311 rather than 9300...It was also yesterday's high so seems like a tough NUT to crack. Maybe it will have a go at it again today!!
  • #7,214
  • Oct 21, 2009 2:44am Oct 21, 2009 2:44am
Quoting Hugo80
Long or short?!

if it is long you are targeting 9300 ?

Long!! And I am targetting 9310 where it will find a very strong resistence (once it crosses the 9300 level). But as per my trading style, i might close it around 9300..Lets c!!
  • #7,215
  • Oct 21, 2009 2:50am Oct 21, 2009 2:50am
Thanks man. Im using the Daily, 4H and 1H and drawing trend lines that joins all the tops and all the bottoms, trying to get my S and R from those lines.
  • #7,216
  • Oct 21, 2009 2:55am Oct 21, 2009 2:55am
Quoting WestAus
Thanks man. Im using the Daily, 4H and 1H and drawing trend lines that joins all the tops and all the bottoms, trying to get my S and R from those lines.
Cool!! Just stick to your system! Whatever works is the best thing. Cheers!
  • #7,217
  • Oct 21, 2009 2:59am Oct 21, 2009 2:59am
Quoting Pak Tiger
Cool!! Just stick to your system! Whatever works is the best thing. Cheers!
Lol yeh maybe, i dont rly like that phrase though because i dont know what works yet. Looking at pivot points and round numbers too, and only have stoch and rsi running in the background,
  • #7,218
  • Oct 21, 2009 3:06am Oct 21, 2009 3:06am
Quoting WestAus
Lol yeh maybe, i dont rly like that phrase though because i dont know what works yet. Looking at pivot points and round numbers too, and only have stoch and rsi running in the background,
I see. Well I don't use that many indicators (maybe at times i do but not generally). I look at the charts (daily, 4H,1H and then 15M, 5M) to confirm the long term and short term trends and then take a decision. I have learned that going with the MAJOR trend is the right thing to do in the FOREX market which is one of the trendiest markets in the world. Even if you make a mistake while going with the trend, it will bail you out sooner or later.

I came across a very helpful & knowledgeable thread by a Poster called JACKO here at FF. His trading method and advice has really helped me alot. Would like anyone who is interested to learn things from a successful trader to read this thread. Would be really helpful... http://www.forexfactory.com/showthread.php?t=27286
  • #7,219
  • Oct 21, 2009 3:10am Oct 21, 2009 3:10am
Strong resistance just below .9300, may go long again if it breaks, otherwise, taking it off the table for now....

http://i33.tinypic.com/29yl2t0.jpg
  • #7,220
  • Oct 21, 2009 3:16am Oct 21, 2009 3:16am
Quoting G_Man
i dont think she will break 9260 ...

she will only go down for rest of the week ... its started from yesterday ...
Is that still valid?
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