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Ouch AUSUSD

  • #1
  • First Post: Edited Oct 29, 2009 1:33pm Oct 28, 2009 5:02am | Edited Oct 29, 2009 1:33pm
AM currently down $1700 on trade, bought at 9200 with stop loss at 9185 personally expect bull run to return. Have used ATR to calculate stop however would like to reduct it to 9180.

Will bull run continue? should I leave stop as is and go long at 9183?

Have moved stop down to 8040.

Bought back in last night. Have three trades long. Am currently up. Phew.
  • #2
  • Oct 28, 2009 12:11pm Oct 28, 2009 12:11pm
So your initial SL was 15 pips and you've moved it further down? Why? Do not chase the market.
  • #3
  • Oct 28, 2009 12:30pm Oct 28, 2009 12:30pm
Quoting bigaub
AM currently down $1700 on trade, bought at 9200 with stop loss at 9185 personally expect bull run to return. Have used ATR to calculate stop however would like to reduct it to 9180.

Will bull run continue? should I leave stop as is and go long at 9183?

Have moved stop down to 8040.
The market doesn't give a shit about what you are expecting. My advise (which you won't take), get out and wait until you have a better reason than 'what you expect to happen' to be in the market.
The breaking of a wave cannot explain the whole sea.
  • #4
  • Oct 28, 2009 12:41pm Oct 28, 2009 12:41pm
Quoting bigaub
bought at 9200
you bought at a MAJOR WEEKLY resistance area...
that was 1st mistake
taking series 3 and 34
  • #5
  • Oct 28, 2009 2:20pm Oct 28, 2009 2:20pm
Thanks for your input.

It helps me to review my mistakes.
  • #6
  • Oct 28, 2009 3:27pm Oct 28, 2009 3:27pm
If you used average ranges in a meaninful way before buying, you'd see that both monthly and weekly average ranges was not only formed but exceeded along with many other factors signaling a dollar reversal.
Measure twice, cut once
  • #7
  • Oct 28, 2009 8:40pm Oct 28, 2009 8:40pm
Quoting bigaub
AM currently down $1700 on trade, bought at 9200 with stop loss at 9185 personally expect bull run to return. Have used ATR to calculate stop however would like to reduct it to 9180.

Will bull run continue? should I leave stop as is and go long at 9183?

Have moved stop down to 8040.
You may need to move it down again--just to be "safe". Only 900 pips more to go.
Seriously, you started with a 15 pip stop and just keep expanding it as the trade goes against you? Why bother with a stop at all?
  • #8
  • Last Post: Oct 28, 2009 9:18pm Oct 28, 2009 9:18pm
Quoting bigaub
AM currently down $1700 on trade, bought at 9200 with stop loss at 9185 personally expect bull run to return. Have used ATR to calculate stop however would like to reduct it to 9180.

Will bull run continue? should I leave stop as is and go long at 9183?

Have moved stop down to 8040.

Over leveraged, and undereducated.
Can you say ..... MARGIN CALL?
You need a wee bit more training and discipline I'd say.
Same Whore .... Different Dress
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