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AUD/USD

  • #54,621
  • Oct 24, 2012 4:13am Oct 24, 2012 4:13am
Quoting 100PipsADay
If you're in and out of trades during the same trading session and/or the same trading day then you would be considered a "Day Trader" therefore the psychology behind Day Trading is MUCH MUCH different then the psychology behind a "Position Trader" such as JPLazard.

If you are trying to follow his lead, as in trying "Position Trading" then you probably won't be successful as it is a completely different style of trading which requires a whole new set of skills.

Hope that makes sense... Sorry if I did not understand your first question,...
You don't have to apologize. Your post make sense to me.
Yes I'm a day trader with a penchant for scalps.
What is annoying me and I'm trying unsuccessfully to correct is the following fact. Every day I give back to the market, at least 30 % of my profits. I want to correct this, but don't know how to do it? Yesterday, at LO+NY session I was @ +220 and I knew that was the max profit that I can have for the day, and guess what ? I closed all position with only +120 few minutes after Lo close. that's is very
Don't be smart. Be rich.
  • #54,622
  • Oct 24, 2012 4:23am Oct 24, 2012 4:23am
Quoting maximinus
You don't have to apologize. Your post make sense to me.
Yes I'm a day trader with a penchant for scalps.
What is annoying me and I'm trying unsuccessfully to correct is the following fact. Every day I give back to the market, at least 30 % of my profits. I want to correct this, but don't know how to do it? Yesterday, at LO+NY session I was @ +220 and I knew that was the max profit that I can have for the day, and guess what ? I closed all position with only +120 few minutes after Lo close. that's is very
Ahhh...I see what you're saying.

Well first of all +220 pips in one day is excellent so you're definitely doing something right! As far as giving back to the market, I can't help you with that as I still do this quite often as well!

Maybe set a certain goal of pips per day and once you reach that goal, close all positions and turn off computer? I don't know...

Best of luck and keep up the good work Maximinus!
  • #54,623
  • Oct 24, 2012 4:32am Oct 24, 2012 4:32am
Quoting 100PipsADay
Ahhh...I see what you're saying.

Well first of all +220 pips in one day is excellent so you're definitely doing something right! As far as giving back to the market, I can't help you with that as I still do this quite often as well!

Maybe set a certain goal of pips per day and once you reach that goal, close all positions and turn off computer? I don't know...

Best of luck and keep up the good work Maximinus!
Hey, not so fast. It's not +220pips but 220$. It's a different story.
Please go there and see
http://www.forexfactory.com/showthre...378&page=21820
post number 327287 in GU threads.
And the end of this day was much more profitable, as you know that GU tanked hard this evening, that's a question of timing.
Don't be smart. Be rich.
  • #54,624
  • Oct 24, 2012 4:44am Oct 24, 2012 4:44am
Quoting maximinus
You don't have to apologize. Your post make sense to me.
Yes I'm a day trader with a penchant for scalps.
What is annoying me and I'm trying unsuccessfully to correct is the following fact. Every day I give back to the market, at least 30 % of my profits. I want to correct this, but don't know how to do it? Yesterday, at LO+NY session I was @ +220 and I knew that was the max profit that I can have for the day, and guess what ? I closed all position with only +120 few minutes after Lo close. that's is very
This is the problem of ur mindset, like any day traders and scalper, you are an impatient kind of trader who trades without looking at the big picture, not that its wrong, but i dont like that style of trading, but i wont blame u... Took me 3 years to learn to calm down, read bigger picture/time frames, know my ranges and to be patient...
As for givin back to the market, it happens dude... Just be glad you, made a profit in those trades and move along, look and wait for entries in other pairs
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #54,625
  • Oct 24, 2012 4:49am Oct 24, 2012 4:49am
Its true
Quoting fxtyrant
This is the problem of ur mindset, like any day traders and scalper, you are an impatient kind of trader who trades without looking at the big picture, not that its wrong, but i dont like that style of trading, but i wont blame u... Took me 3 years to learn to calm down, read bigger picture/time frames, know my ranges and to be patient...
As for givin back to the market, it happens dude... Just be glad you, made a profit in those trades and move along, look and wait for entries in other pairs
I mean what tyrant said its true
  • #54,626
  • Oct 24, 2012 4:57am Oct 24, 2012 4:57am
Quoting fxtyrant
This is the problem of ur mindset, like any day traders and scalper, you are an impatient kind of trader who trades without looking at the big picture, not that its wrong, but i dont like that style of trading, but i wont blame u... Took me 3 years to learn to calm down, read bigger picture/time frames, know my ranges and to be patient...
As for givin back to the market, it happens dude... Just be glad you, made a profit in those trades and move along, look and wait for entries in other pairs
Hi, profit or loss, I alway thanks the market for the dollars it offered me or the lesson that I received. You know that I try to be more and more humble every day [kidding but very serious also]
Thanks for your inputs. But believe me, even if I'm a DT and scalpers, I open my monthly charts several times in a day. I respect every trading style and try lo learn a bit from every one. I try also to share my point of view but I invariably fails
Don't be smart. Be rich.
  • #54,627
  • Oct 24, 2012 5:06am Oct 24, 2012 5:06am
Quoting jezek5
Great reply.
I'm long here,i like the RR,
would like to see it close around 1.0270 tonight
to give it a chance to move higher,if not so what,
every trades nothing more than a 50/50 bet.
PA can always fail.
Stop moved up to +2 at 1.0255.
Orange and pink lines first and second target.
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You can remain irrational longer than you can remain solvent.
  • #54,628
  • Oct 24, 2012 6:01am Oct 24, 2012 6:01am
Quoting 100PipsADay
Yea, doesn't look like it wants to go down...

Just banked another 165 pips with a few EUR/USD shorts!

This is turning out to be a very good week...up over 18% so far! Definitely taking the family out this weekend for some activities and possibly a hotel room in Waikiki!
Congrats. That's a nice reward for the hard work

Waikiki
  • #54,629
  • Oct 24, 2012 7:07am Oct 24, 2012 7:07am
Aussie up higher as a result of higher than expected CPI figures, also broke through monthly resistance of 1.0304.
  • #54,630
  • Oct 24, 2012 7:41am Oct 24, 2012 7:41am
Quoting nahman
Aussie up higher as a result of higher than expected CPI figures, also broke through monthly resistance of 1.0304.
Monthly Resistance of 1.0304?! dude..... please look where the Monthly pivot is at... and i am guessing Resistance being usually on top of pivot....
Perhaps you mean, We BROKE back above monthly support which only temporarily turned resistance due to the break yesterday... but as far as thats said.... you need a monthly candle close Below a support for THAT support to turn resistance....
be careful not to confuse people...
Not trying to come across harsh but just trying to help.... so people dont get confused.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd h4.gif Size: 21 KB
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #54,631
  • Oct 24, 2012 8:04am Oct 24, 2012 8:04am
I have one hour to wait for the next train. Enjoy!

Inserted Video


Inserted Video
Don't be smart. Be rich.
  • #54,632
  • Oct 24, 2012 8:13am Oct 24, 2012 8:13am
Quoting 100PipsADay
Isn't it strange that almost everything is going down except for AUD and Gold?

AUD seems to be the strongest currency next to the USD...
gold is waiting for fomc i gaurantee it will move its giving hints
  • #54,633
  • Oct 24, 2012 8:17am Oct 24, 2012 8:17am
Quoting sidhujag
gold is waiting for fomc i gaurantee it will move its giving hints
Yes. Waiting for this and BOC statement.
Don't be smart. Be rich.
  • #54,634
  • Oct 24, 2012 8:25am Oct 24, 2012 8:25am
Quoting fxtyrant
Monthly Resistance of 1.0304?! dude..... please look where the Monthly pivot is at... and i am guessing Resistance being usually on top of pivot....
Perhaps you mean, We BROKE back above monthly support which only temporarily turned resistance due to the break yesterday... but as far as thats said.... you need a monthly candle close Below a support for THAT support to turn resistance....
be careful not to confuse people...
Not trying to come across harsh but just trying to help.... so people dont get confused.
Attachment
Ok if you really mean what you write and stop acting like a rowdy. We can make business, but I'm less patient than Sidhujag.
Ok for looking at higher tf etc. You are right. But for having a monthly bull or bear candle you need a week bull or bear. For a W Bull or Bear you need a daily Bull or bear. For a daily you need a 8h bull or bear candle. For a 8h you need first a 4H. For a 4H you need a hourly candle. etc etc. So a trend start with a 1min candle, that's what you need to catch.
Take your historical 1min chart and try to identify precisely at wich minute the trend change has occured. I assure you will learn a lot. Oh, if you have nothing to learn that's ok also. Hope that this post will give idea for some others.
Don't be smart. Be rich.
  • #54,635
  • Oct 24, 2012 8:33am Oct 24, 2012 8:33am
Quoting maximinus
Ok if you really mean what you write and stop acting like a rowdy. We can make business, but I'm less patient than Sidhujag.
Ok for looking at higher tf etc. You are right. But for having a monthly bull or bear candle you need a week bull or bear. For a W Bull or Bear you need a daily Bull or bear. For a daily you need a 8h bull or bear candle. For a 8h you need first a 4H. For a 4H you need a hourly candle. etc etc. So a trend start with a 1min candle, that's what you need to catch.
[b]Take your historical 1min chart and try to identify precisely...
Well i like what you wrote... but seriously i am not going to look at an m1 chart... simply because theres a lot of noise and its WAY tooo hard to identify trend change on the M1 chart.... im gona stick to my trading method simply cuz its working for me....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #54,636
  • Oct 24, 2012 8:35am Oct 24, 2012 8:35am
Quoting maximinus
I have one hour to wait for the next train. Enjoy!

http://www.youtube.com/watch?v=v-OyQ...feature=relmfu

http://www.youtube.com/watch?v=pEjvbJW_G4E
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #54,637
  • Oct 24, 2012 8:38am Oct 24, 2012 8:38am
Quoting Zircon
Don't be smart. Be rich.
  • #54,638
  • Oct 24, 2012 9:11am Oct 24, 2012 9:11am
AUD/JPY short - 82.50


stop loss 82.80

target 82.20
then 81.80
  • #54,639
  • Oct 24, 2012 9:12am Oct 24, 2012 9:12am
Bull pressure still very strong
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #54,640
  • Oct 24, 2012 9:18am Oct 24, 2012 9:18am
Quoting Zircon
Bull pressure still very strong
you sure?
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
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