Aussie Trading Room and Cartoons Gallery

BTW - when you talk about stops - there are really only two points which really concern me - 1.06 and 0.98. A breach of one of these will have big repercussions - long term. Until then, however, using stops in the triangle formation can be somewhat futile. Unless you are a day trader - obviously.

There's a trader called HAHA, he does not buy low sell high, he always trade before a move has start. He will note the highest point and lowest point of the trading range before a particular trading session - > market opens or fundamental period like news etc.

He don't believe in seeing numbers which make it catchy, thinking like wow so high, time to sell, wow, so low, time to buy, and he does not put his charts with myth indicators like rsi, cci etc, because when the trend moves very strongly, often jumping into a rsi trade will be deadly, if bids/offers does not existed to form a base of rejection.

Alot of trader before a particular move would jump into the box area to place a trade, and most of the time the price is within the range aka box before a move happen, traders always try to scalp here and there abit, buy low sell high within the range box, and hope that a breakout would happen in his favor with his trade, then he can post on forum and show off. But what haha do everyday was different.

When price was at 1.0330-1.0350 after a fall happened from 1.0400 to 1.0330, haha did not went to sell at 1.0350[ buy low sell high ??] no he buy high instead, when price bounced from 1.0330, haha instead went to buy from 1.0350, because he witnessed that a rejection is formed, and he placed his stop loss after the pin aka bids aka support area.

And haha's trading method is always trailing stops of 12 pips, once price moved to 1.0362, he would be the trade and let the trade run, and take partial on different levels.

and when resistance is formed, haha will do the same, when price reached 1.0430 for example and went down to 1.0410, haha starts to sell 1.0410 with stop at 1.0430, because he knows he's supported.

Perhaps, there's one trader name HAHA who just want to win a big race, he enters only one 1 position with his 30 pips stop loss and target 60 pips or even just 10 pips and he stop for the day.

So what happen to HAHA was, he is a sniper, while every other trader have slot in their positions and getting in and out of trade, what HAHA did was osberving everyone's emotions, smiles or laughter.

One of the safest entry method is this

You are not a trader who enters a position using buy or sell limit, and the trend reverses in your favor. [ Not everyone is lucky and can predict the future]
You are not a trader who buy high sell low, too many people buy and sell at wrong point. [ After the trend gets almost exhausted or already run it's ATR, you then enter and trend reverses against you more then likely]
You are a trader who is a copy cat! When the price starts to move down slightly, the buyer's face got rotten and curse, the early seller who used a sell limit get a lucky reverse trend in his favor.
The min you saw the emotions of the positive trader, you enter a trade in his direction.

He started to use trailing stops there after, as always he will look at all traders, who buy, who sell, and enters on the side where the person is smiling..

If any trader look at the chart, they will see this pattern, while candles get bullish don't short it until the bear comes, don't try to sell high too early, sell with confirmation, and risk checked. You hop onto the train because its moving in that direction, u don't push it too early, but u exit the train after it hits a obstacle, 1-2 times, and start to take a reverse ride. try to follow the trend in the early 1/4 moves, and and exit at 3/4 - 4/4 if u can spot the rejection,

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1. Don't marry the trade, don't get bored with it for life! If she's bad and stings, maybe you can think of divorcing her before your life get worst! [ Marrying a trade ]
2. Find many girl friends, if she's a good girlfriend hold onto her, ok when you feel shes getting bad or your tired maybe its time to let go again! [ Let profit run, take profits ]
3. Each girl friend, you are going to use her and manipulate her potential, you have spending limits on each girlfriend, hey if she demand so many things! [ TIME TO DUMP?] CUT LOSERS
4. Hey because you try this girl maybe you want to seek his ex opinion? If shes hot and good, but shes dump his ex and shes always in DEMAND, maybe you want to hook her up :?[ Following the trend ] Also identifying risk if she's worth your time of investment.
5. There are times you may want to have many girl friend to know who is the right one. [ Diversification and not putting the same eggs in the same basket or the same pair]
   But there are times, you may just want to focus on a girl with limited spending [ watching leverage]
6. Hey your wallet is not always going to be full, watch your limit [ STOP LOSS and capital preservation ]
7. Don't try to change the girl if she's bad, not matter how much you try, she's just won't change [ Nursing a trade and hope it become winner some day ]

And yet - long term trading is often like marriage

By the way, a breach of 1.06 would signify a move to 1.15. Which is why my stops are at 1.06.

there are ways of trading long term positions. let me draw a chart. its very simple to understand, just look at the eclipse, of how the haha boy's theory works.

therefore, a trader must learn to understand what's momentum trading or trend. Numbers will always give the impression of high and low, but in fact there's no such thing as high or low, but more of where is the rejection? when rejection happens- >

1. the one in profits may want to take profit
2. the one in profit will trail higher
3. the one in profit may enter a reverse trade
4. the one in profits in trailing stop will be stop out
5. trend starts to change in between of levels,
6. reverse traders get more and more
7. until the next rejection point

especially on aud/usd it obey it well unlike fundamental pairs like eur/usd etc.

Did the Master come?

you cant miss him..

If he did come, what did you do?

Hello DB,

Glad to see your back.

When the master came I shorted again at 1.04263.

Happy Trades,
fxstir

stared at him and ran away as fast as i could..
there is no way i could beat the master..

he is level 99 and i am level 1.

I am tapping my neighbor's network to post some messages. Good job. DB

Thanks,

Nice neighbor. I hope your place wasn't damaged by the storm.

Regards,
fxstir

I see a red shooting star forming in H4. I believe it's the face of the Master.

No damages but no power as well. It's the 8th day so far plus some live wires on the street. Cannot believe I am in the US.

Wow, 8 days! One day I would like to get off the grid, staying connected to use it as a backup only.

Hope they get your power restored soon.

fxstir

Post-Roller Coaster phenomena?

Was told by Wednesday.

LOL - I like that cartoon.

I find it interesting that the market was surprised by the RBA decision to hold rates. If I recall, one of the banksters tipped his hand a few days ago saying rates were fine. Must be election jitters.

Realistically, company profits should be what drives stock prices. Once the reality of a global slowdown manifests itself into lower earnings, I think we will see a downturn in stocks. The markets have been artificially propped up for some time. In addition, I think the US bond market is a huge bubble waiting to be pricked. How long the party will continue is yet to be seen. All the euro needs is for one of the PIGGS to default. That will draw the attention away for the USD but only for a while. Then again, what do I know? I will say that trading has become much more interesting.

Regards,
fxstir

here's a 1 min chart, of trading breakout during fundamental or trading retracement/reversal with the haha's theory.

I think the volume was low - all prior to elections, so everyone is kind of waiting on the fence. That should explain the overreaction to the rate decision.