Disliked1.0150 achieved, postion closed. Looking for another dip to buy.
Regards,Ignored
Regards,
- #34,442
- Oct 13, 2011 8:24am Oct 13, 2011 8:24am
- | Joined Aug 2009 | Status: I support AC Milan and Arsenal | 1,009 Posts
- #34,444
- Oct 13, 2011 9:44am Oct 13, 2011 9:44am
I agree with your idea about sell AUD/CAD because I see most cross-pair related to CAD are fairly stable range trade swing back and forth. I am still waiting for either the price reach to near 1.05 or at least 1H turns to bearish..
you sold at 1.0340 with 240 stop but only 170 profits?? This risk reward ratio looks not good, unless you will add more when you 1.0340 short gots profit and the market shows bearish signal
Im experienced and sucessful enough to not using ''gambling punter'' terms and ideas like 'risk to reward ratios'...
lolI have no interest in ''punting my money'' on gambles.
I am a value-trader (an Opportunist, not scalper or swing), and so i buy and sell markets when they become extremely overdone in 1direction.
Ive bought Cad/Aud become it looks very cheap at this price, if it becomes cheaper i would then love to buy even more as itd be even cheaper..
I don't have any interest whatsoever in taking loads of small losses based on the ''hope'' that i will eventually get an entry from which the market will travel all the way to my target level (a level far away enough to make back all those small loses + profit) before it touches my stoploss..
I instead trade my own strategy, which for many many many months has consistently given around 95-96% profitable trades VS 4-5% trades that i close for a loss.
I don't know the R:R ratio, but i typically will have 25trades that i make between 60-80pips profit on,
with the 26th trade me closing for a loss of 300-400pips,
then the next 25 being 60-80pip profitable 1s..
- #34,447
- Oct 13, 2011 10:30am Oct 13, 2011 10:30am
- | Joined Aug 2009 | Status: I support AC Milan and Arsenal | 1,009 Posts
Im experienced and sucessful enough to not using ''gambling punter'' terms and ideas like 'risk to reward ratios'...
I have no interest in ''punting my money'' on gambles.
I am a value-trader (an Opportunist, not scalper or swing), and so i buy and sell markets when they become extremely overdone in 1direction.
Ive bought Cad/Aud become it looks very cheap at this price, if it becomes cheaper i would then love to buy even more as itd be even cheaper..
I don't have any interest whatsoever in taking loads of small losses...
Yes, i see your strategy. It is not a bad strategy if you put around 200 pips stop if you are patient enough when you trade in range. Sometimes I use this strategy and i always start with small amount such as sell only 0.02 lots and i have around 100 pips s/l so if it is s/l i lose around 20 dollars but when it plays in range and it turns to the downtrend then i would like to add another 0.02 lots when i have 100 pips in profit or when i see the trend is clear and assume some important support was broken, then i move all my lots s/l at the average entry price. But the problem is sometimes i add lots too rush before it successfully break the support or before the trend is clear or sometimes the price is moving back at forth even on its trend so my total order will s/l when the price up back and i am still trying to learn how to determine add more lots when the trend is on the way.
- #34,450
- Oct 13, 2011 11:33am Oct 13, 2011 11:33am
- Joined Apr 2009 | Status: Trader | 1,438 Posts
Cheers mate..
Everyone has their own style of trading though,
and at the end of the day there is only 1 thing that matters, and that is how much money you manage to bank,
regardless of what your method is.
mine was a bit different from yours tho I would buy a crash only if it was an outside wave that dropped 300% or more past the low of the wave it broke
- #34,453
- Oct 13, 2011 5:49pm Oct 13, 2011 5:49pm
- Joined Aug 2008 | Status: Trader | 3,386 Posts
AUD/USD @ 1.0182
Plenty of movement last night for the bulls and the bears.Its a pity Slovakia came to the party otherwise we may have been knocking on parities door again.
Still I think Europe isnt finished with just yet. They keep tripping themselves up with surprises.
So we have 1.0240 resistance and 1.0100 support.
For the bears -we just have to wait for the market to get complacent about buying this stuff
For the bulls- I hope you sleep well at night
... just kidding..
Good punting..
NEWS FLASH - Spain been downgraded on Growth.. voila there is that little trip up.. someone loves
me...
Plenty of movement last night for the bulls and the bears.Its a pity Slovakia came to the party otherwise we may have been knocking on parities door again.
Still I think Europe isnt finished with just yet. They keep tripping themselves up with surprises.
So we have 1.0240 resistance and 1.0100 support.
For the bears -we just have to wait for the market to get complacent about buying this stuff
For the bulls- I hope you sleep well at night
... just kidding..Good punting..
NEWS FLASH - Spain been downgraded on Growth.. voila there is that little trip up.. someone loves
me...
- #34,457
- Oct 13, 2011 6:15pm Oct 13, 2011 6:15pm
- Joined Aug 2008 | Status: Trader | 3,386 Posts
How apt... a Bullfight about Spain
Now my sources tell me that the hedge funds have turned long after being caught short...
This could turn nasty especially on a friday.. so expect the unexpected..
We have China data coming up just to throw some more petrol on the fire...
Now my sources tell me that the hedge funds have turned long after being caught short...
This could turn nasty especially on a friday.. so expect the unexpected..
We have China data coming up just to throw some more petrol on the fire...
- #34,459
- Oct 13, 2011 8:09pm Oct 13, 2011 8:09pm
- Joined Aug 2008 | Status: Trader | 3,386 Posts
Interesting scenario with regards to SGD.
Asian Central banks have been buyers of AUD trying to weaken their currencies via reserves.. ie selling SGD Buying USD and then selling USD buying AUD..
This has been evident over the past few months.
Now the MAS ( Singapores CB) are going to permit a gradual currency strengthening..
Now 2 things to note.. AUD buying pressure from them gone for timebeing and they probably dont anticipate a sudden surge for SGD.
Keep and eye on them they can be a very handy money making machine if you catch them quick enough
Asian Central banks have been buyers of AUD trying to weaken their currencies via reserves.. ie selling SGD Buying USD and then selling USD buying AUD..
This has been evident over the past few months.
Now the MAS ( Singapores CB) are going to permit a gradual currency strengthening..
Now 2 things to note.. AUD buying pressure from them gone for timebeing and they probably dont anticipate a sudden surge for SGD.
Keep and eye on them they can be a very handy money making machine if you catch them quick enough