1/2 size positions, badly traded looking for a retracement to mitigate the short, to state the obvious are in profit with the long. It could be said I spend to much time at work and not enough trading, if I was a better trader the reverse would be true, hope this helps.
Not sure if newbies like myself are allowed to post but anyway. Just another proof how price really is everything. Kiwi spiked after an earthquake and bounced perfectly off a demand level.
I suspect you may be early, I am trying to take on the overriding phylosophy of the RED and the traders on this thread which in a nut shell is "get the entry right and the exit will look after its self" this is achieved via correct identification and action on/at Supply and Demand zones.
I have got to the stage where I dont want an overpriced entry, the drawdown and its possible consequences drain your emotional reserves, and make it difficult to function effectively at the correct time, even if this has been identified in advance. ( and the early entry just taken as insurance that you do get a seat on the buss)
Back to the AUD USD, the USDX hourly is at a point below the daily PP and above S1 with not much happening due to time of day Tokyo open and Frankfurt open being 3 odd hours away, the Swissy attached on a 30 min HA is trending down being inverse pairs seem to indicate a stalling to do nothing type of action, that to me = time in the market to get a result=more risk.
I am expecting the same result as you but waiting for a better price and would rather not get in than get in at the wrong price.
If I was not so drunk I could be more consise and helpfull I hope I am helping......Regards Allan.
[quote=qp2;5243071] I am trying to take on the overriding phylosophy of the RED and the traders on this thread which in a nut shell is "get the entry right and the exit will look after its self" this is achieved via correct identification and action on/at Supply and Demand zones.
...... ( and the early entry just taken as insurance that you do get a seat on the buss)
Thanks...Very well put ...I find myself too eager for my seat. Cheers
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Joined Jul 2011
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Status: Invest in yourself before forex
|299 Posts
Merry Christmas to all...I would like to take this opportunity to thank you all who contributed. I have learnt a lot from this thread. Without you all I will not make today progress. Wishing you the happiest of Holidays...
