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Aussie Trading Room and Cartoons Gallery

  • #2,161
  • Jul 30, 2012 9:34pm Jul 30, 2012 9:34pm
Quoting DaddyBear
A time to kill! Even this is not the top, the truck going to the slaughterhouse is ready to go.
Not really expecting a full out massacre but definitely expecting weak longs to be taken out.

Possibly about 35ish would be a good spot for me.
  • #2,162
  • Jul 30, 2012 9:36pm Jul 30, 2012 9:36pm
Quoting DaddyBear
All the bulls were taken to the truck. There was no resistance. The truck is heading to the hillside S. house.
Added another line to my chart. PA seems to like

Attached Image (click to enlarge)
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these fib lines as well.
  • #2,163
  • Jul 30, 2012 9:36pm Jul 30, 2012 9:36pm
http://www.nytimes.com/2012/07/31/business/some-at-fed-urge-pre-emptive-stimulus.html?_r=4&ref=business
  • #2,164
  • Jul 30, 2012 9:39pm Jul 30, 2012 9:39pm
Quoting Esssex
Not really expecting a full out massacre but definitely expecting weak longs to be taken out.

Possibly about 35ish would be a good spot for me.
The hillside S. house is still under construction at an undisclosed location. Time will tell.
daddybearforex. com
  • #2,165
  • Jul 30, 2012 9:43pm Jul 30, 2012 9:43pm
Quoting NYForexer
It just seem to me that there was not enough steam to push it up, therefore a pullback is more probable. Just some of my observations. When its news time I mostly watch PA and see how it goes from there.
So, we are comrades now. How far do you want to go?
daddybearforex. com
  • #2,166
  • Jul 30, 2012 9:49pm Jul 30, 2012 9:49pm
Quoting DaddyBear
So, we are comrades now. How far do you want to go?
I would love to see 1.04, but I think 1.50-1.055 looks more realisting. What about you?
  • #2,167
  • Jul 30, 2012 9:52pm Jul 30, 2012 9:52pm
Quoting DaddyBear
So, we are comrades now. How far do you want to go?
Party on Comrades!

Attached Image (click to enlarge)
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There are those who know, and there are those who don't know.
  • #2,168
  • Jul 30, 2012 9:54pm Jul 30, 2012 9:54pm
Attached Image (click to enlarge)
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  • #2,169
  • Jul 30, 2012 9:54pm Jul 30, 2012 9:54pm
Well it has not retraced yet 10520

I closed long,did good out of that one.
Still looks like it has a bit more up,
Tricky little rooster,
I will take any money that is sitting on the plate.
To many times you keep thinking maybe we can get a bit more,than bang you have to give all back.
Should be an interesting week
Keep posting everybody so we can get feel for what is happening out there
  • #2,170
  • Jul 30, 2012 9:57pm Jul 30, 2012 9:57pm
Quoting eliteincome
Well it has not retraced yet 10520

I closed long,did good out of that one.
Still looks like it has a bit more up,
Tricky little rooster,
I will take any money that is sitting on the plate.
To many times you keep thinking maybe we can get a bit more,than bang you have to give all back.
Should be an interesting week
Keep posting everybody so we can get feel for what is happening out there
Story of my life.. I single handedly support the FOREX charity fund giving it all back!

I assure you, its all for a good cause!!!
There are those who know, and there are those who don't know.
  • #2,171
  • Jul 30, 2012 9:58pm Jul 30, 2012 9:58pm
Got stopped out on my short positions, looks like AUD is more resistant than I thought.
  • #2,172
  • Jul 30, 2012 10:02pm Jul 30, 2012 10:02pm
What does everyone think is an appropriate/acceptable draw-down on a trading account?
  • #2,173
  • Jul 30, 2012 10:03pm Jul 30, 2012 10:03pm
Quoting NYForexer
I would love to see 1.04, but I think 1.50-1.055 looks more realisting. What about you?
TP is open. I will go as far as possible.
daddybearforex. com
  • #2,174
  • Jul 30, 2012 10:04pm Jul 30, 2012 10:04pm
Quoting NYForexer
Got stopped out on my short positions, looks like AUD is more resistant than I thought.
Your SL might be too tight. I have 100 pips SL.
daddybearforex. com
  • #2,175
  • Jul 30, 2012 10:05pm Jul 30, 2012 10:05pm
ok in at 1.0532 for a short ..TP was hit ...for that I'm thankful...but I have to remind myself to not get in the habit of changing my original TP point...I have to remember just a few days ago I was down about how my trading had been going wrong due to a gamblers mentality.....and changing my mind and not sticking to the plan....although I did like the way 1.0532 lined up with a group of candles back on .03/27/12 on the daily...
  • #2,176
  • Jul 30, 2012 10:06pm Jul 30, 2012 10:06pm
Quoting DaddyBear
Your SL might be too tight. I have 100 pips SL.
I have a 299pip SL.
  • #2,177
  • Jul 30, 2012 10:07pm Jul 30, 2012 10:07pm
Quoting Daytrader74
What does everyone think is an appropriate/acceptable draw-down on a trading account?
That doesn't sound like a reassuring question lol. Be honest with you, I used to let my accounts DD, be pretty high, but that was a big mistake. Took me over time to learn, keep it tight and dilly.. Because You can have.. 10 losses and 4 wins.. and as long as your 4 wins.. surpass the profit of your 10 losses.. your still ahead!

Don't let you DD get to high.. because #1) you won't be able to trade.. because you can't open another position 2) your risking your account..
3) How long will you keep that position their?

I call cutting amputating, because its not pleasant, but a necessary evil. Learn to trade tight, without to much DD.
There are those who know, and there are those who don't know.
  • #2,178
  • Jul 30, 2012 10:08pm Jul 30, 2012 10:08pm
Quoting Daytrader74
I have a 299pip SL.
You must be grandpabear.
daddybearforex. com
  • #2,179
  • Jul 30, 2012 10:10pm Jul 30, 2012 10:10pm
Right now, I over leverage my account, BUT I try to keep it very tight SL, so and let my profits run, so they are good, and by keeping it tight.. I might lose few pips here and there, but then I take 40 pips profit and 70 pips profit.. it more then makes up for it.
There are those who know, and there are those who don't know.
  • #2,180
  • Jul 30, 2012 10:13pm Jul 30, 2012 10:13pm
Quoting palabara
That doesn't sound like a reassuring question lol. Be honest with you, I used to let my accounts DD, be pretty high, but that was a big mistake. Took me over time to learn, keep it tight and dilly.. Because You can have.. 10 losses and 4 wins.. and as long as your 4 wins.. surpass the profit of your 10 losses.. your still ahead!

Don't let you DD get to high.. because #1) you won't be able to trade.. because you can't open another position 2) your risking your account..
3) How long will you keep that position their?

I call cutting amputating,...
well said palabara...I've been the king of DD lately and I hate #1 and #2....The more I see posts like this the more I tell myself don't do it...thanks again...
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