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  • #2,241
  • Jul 31, 2012 3:00am Jul 31, 2012 3:00am
Quoting iNSIELD
Also the 4 hour
Hell the 30 min
  • #2,242
  • Jul 31, 2012 3:08am Jul 31, 2012 3:08am
4hr double top with lower close suggested me to short this babe

take care

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  • #2,243
  • Jul 31, 2012 3:10am Jul 31, 2012 3:10am
Quoting Itrade24h
The drawdown is never a problem if you have a good money management.
For example, if you have a 50000$ account, will be you worried if you have a trade of 0.1 lots -2000pips?
sizing and leverage will solve dd. Proper money management ye . but example of 0.1 - 2000pips is too much haha, not good especially holding shorts for paying swaps.

u can use 1% of account to make money everyday, if underwater by 100 pips account on red -1%

2nd trade plan comes in at 2%. 2% trade plan only need 50 pips win can close everything at breakeven, trader can restart and replan his next entry or choose to hold 1st trade as well,and look for other possible trade entry, not advisable for hedging unless you are so damn good at picking position and know which one to close. That's something like martingale, but not advisable if those using high leverage on very small sizing.

If trader want to trade long term like a year, its advisable, because we never know what is high high or low low, proper money management help to reduce unnecessary losses and takes small win everyday, if small win cannot win will be small DD, then 2nd trade comes in, then 3rd trade comes in, eventually the market " What goes up must come down " of course i am referring to bigger TF not 1 -5min, but those at least 1-4hour or daily preferably, should be rather safe, within 1 week, should close all in profits or BE easily.
  • #2,244
  • Jul 31, 2012 3:23am Jul 31, 2012 3:23am
A close above 1.511 in the hour (tenkan line) may show now a consolidative move more then a actual move. A failure I think to hold here (even with the double bottom starting to form in the hour) is still bearish just based on the formation of the four hour candle as well as mac D divergence
  • #2,245
  • Jul 31, 2012 3:23am Jul 31, 2012 3:23am
Quoting iNSIELD
Hell the 30 min
  • #2,246
  • Jul 31, 2012 3:23am Jul 31, 2012 3:23am
Quoting Itrade24h
The drawdown is never a problem if you have a good money management.
For example, if you have a 50000$ account, will be you worried if you have a trade of 0.1 lots -2000pips?
Thanks Itrade24h. We were all just having a bit of fun banter at each other at some of the silly things that we have done in the past. There is no greater supporter of good money and/or risk management than I am.

I personally will not enter a trade that risks more than 2% or 3% on any transaction.

I haven't always been this disciplined but a few silly self management instances and/or a deviation from your own trading rules can surely teach you to be.

If you have never entered a trade that was not completely thought out, and you have adhered to all sound rules, then I take my hat off to you and say well done!!

LOL, all of us involved have pledged to never allow it to happen again.
  • #2,247
  • Jul 31, 2012 3:24am Jul 31, 2012 3:24am
Quoting DonL
Hello shenkw85! and welcome to the forum. "Hello, my name is DonL and I too have a DD problem!"

You asked what's DD problem...and I noticed that DBear didn't tell you in his welcome.

We were having a bit of a poke at ourselves at stubbornly allowing a bad trade to live while thinking, ...I'll hang on, because it will come back into profit...! Then finding yourself at -30, hanging on... -50 hanging on...-70 ...hanging on... perhaps -100 and the drawdown on your account is beginning to hurt, and you realize that you should have cut out of a bad...

just a bit of dust in air...from my part:

if -70, -100 pips it's hurting you, then you have a bad moneymanagement. you have to trade thinking that 'luck' is against you, and a drawdown of -100 -300 pips is a natural thing that can happen to your trading..and if you plan it from before , such thing cant hurt you anymore.

playing small, unleveraged is the key!
fokyou forexfactory
  • #2,248
  • Jul 31, 2012 3:25am Jul 31, 2012 3:25am
The 1 hour bull has lose momentum from the steep slope uptrend as seen on the lime trendline, its on the 2nd red line. Breaking level 2 will signify a possible larger swing down. Notice on 4hour, a fat bear is growing, if the fat bear can close below 1.0495, the probability of shorting is higher than going long now.

1.0480 will be next target for the downside. However, given current market volume and volatility it's mere ranging and scalping range. I guess only US session can give a direction. Given yesterday's small range, the downside should come soon.

Bull still can move upwards on 2nd red line. If today Daily chart's close below 1.0490 will favors the bear tonight, lets see.
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  • #2,249
  • Jul 31, 2012 3:27am Jul 31, 2012 3:27am
Quoting HeavenBlade
Heaven don't smile yet the bears have alot of work to do this dosen't look quite as bearish anymore
  • #2,250
  • Jul 31, 2012 3:28am Jul 31, 2012 3:28am
Quoting 5percent
sizing and leverage will solve dd. Proper money management ye . but example of 0.1 - 2000pips is too much haha, not good especially holding shorts for paying swaps.

u can use 1% of account to make money everyday, if underwater by 100 pips account on red -1%

2nd trade plan comes in at 2%. 2% trade plan only need 50 pips win can close everything at breakeven, trader can restart and replan his next entry or choose to hold 1st trade as well,and look for other possible trade entry, not advisable for hedging unless you are so damn good at picking...
Well said 5%!
  • #2,251
  • Jul 31, 2012 3:32am Jul 31, 2012 3:32am
We need a break and hold below 1.0494 in the hour to really get the ball rolling
  • #2,252
  • Jul 31, 2012 3:32am Jul 31, 2012 3:32am
Quoting DNTme
just a bit of dust in air...from my part:

if -70, -100 pips it's hurting you, then you have a bad moneymanagement. you have to trade thinking that 'luck' is against you, and a drawdown of -100 -300 pips is a natural thing that can happen to your trading..and if you plan it from before , such thing cant hurt you anymore.

playing small, unleveraged is the key!
Thanks DNTime. Great post! I was just trying to explain to a new forum member.
  • #2,253
  • Jul 31, 2012 3:55am Jul 31, 2012 3:55am
Quoting iNSIELD
We need a break and hold below 1.0494 in the hour to really get the ball rolling
Totally agree! As long as it remains above 1.05 and the bullish trendline, it will continue to do what the AUD does best..... float on hot air!

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  • #2,254
  • Jul 31, 2012 3:57am Jul 31, 2012 3:57am
Quoting DonL
Totally agree! As long as it remains above 1.05 and the bullish trendline, it will continue to do what the AUD does best..... float on hot air!

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ya Don L I think I'm about to cover my shorts as sick as this is. This looks like either consolidative or a move up I don't see a move down ne more
  • #2,255
  • Edited 4:21am Jul 31, 2012 4:01am | Edited 4:21am
F expansion (161%) 0460

F retracement (38%) 0400
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fokyou forexfactory
  • #2,256
  • Jul 31, 2012 4:01am Jul 31, 2012 4:01am
Well don a hold under the Tenkan and I will hold now plus the 4 hour candle and Mac D Divergence
  • #2,257
  • Jul 31, 2012 4:05am Jul 31, 2012 4:05am
I'm out don't see down now
  • #2,258
  • Jul 31, 2012 4:12am Jul 31, 2012 4:12am
Quoting iNSIELD
ya Don L I think I'm about to cover my shorts as sick as this is. This looks like either consolidative or a move up I don't see a move down ne more
We have had 5 days of higher highs and higher lows. That tells me that we are still in a uptrend at least until a bear shows up. Until then, re-tracements are expected and bounces are probable.

I have learned by history, to never allow myself to think too high is TOO HIGH. As long as we are within the up channel and SMAs are pointing up, I will continue to find trades with the trend where-ever possible. That does not mean that I will not take a short on a retracement when it occurs.
  • #2,259
  • Jul 31, 2012 4:16am Jul 31, 2012 4:16am
Quoting DonL
We have had 5 days of higher highs and higher lows. That tells me that we are still in a uptrend at least until a bear shows up. Until then, re-tracements are expected and bounces are probable.

I have learned by history, to never allow myself to think too high is TOO HIGH. As long as we are within the up channel and SMAs are pointing up, I will continue to find trades with the trend where-ever possible. That does not mean that I will not take a short on a retracement when it occurs.
Don Im going to be private messaging you really seem like you know what your talking about I hope we can bounce ideas off of one another and make each other better traders
  • #2,260
  • Jul 31, 2012 4:22am Jul 31, 2012 4:22am
Quoting iNSIELD
Don Im going to be private messaging you really seem like you know what your talking about I hope we can bounce ideas off of one another and make each other better traders
Always happy to talk to fellow traders! Wishing you the best!
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