Disliked{quote} Added another short 3 total on Cad all 3 in profit in 20min. Fact is price travels faster going down then up.On historical levels anything above 200 on UCAD is short territory. There is little stress on shorting the Cad on this level. My strategy is building a position on 2 fronts.Each his own.Good luckIgnored
- #1,962
- May 17, 2013 10:22am May 17, 2013 10:22am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
Anyone still holding Long NZD or AUD at this time? I'm already min 690 pips.my account can only takes 450 pips left or it will RIP..
Longer it takes the better.We had no real correction yet.I am getting optimistic on my longs
In trading, you have to be defensive and aggressive at the same time
- #1,963
- May 17, 2013 10:24am May 17, 2013 10:24am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
{quote} Well I am done for this week. Resulted only loss. Will stay aside till proper market.
Green pips
In trading, you have to be defensive and aggressive at the same time
Anyone still holding Long NZD or AUD at this time? I'm already min 690 pips.my account can only takes 450 pips left or it will RIP..
if you want my opinion it's very risky to hold for the week-end put a tight SL (hope you have a broker that offer guaranteed stop loss for eventual gap on monday morning)
and re-enter later if Stoploss is hit.
Closing in loss is not a problem this is part of forex , you wait for a better entry later and be long again.
Just my opinion
{quote} Me ! but i'm just open NZD Long @ 0.80728 , AUD @.097236 just after the US good news (US bull trap), my SL is @.7780 for NZD and .9410 for AUD and i maybe add one more long if it reach 0.8050 with the same SL.
hopefully closed with green pips..
- #1,968
- May 17, 2013 10:31am May 17, 2013 10:31am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
{quote} fact is markets are manipulated constantly.Its the default.You just need to read Mario Draghi comments every time they want the Euro up the guy says something to trigger the move. If not him Bernanke or some other talking head.You just mentally must adjust that trading is war.Best you can do is manage your troops
A wise trader told me one day
"Market is always predictable, it's just that we do not always understand correctly"
Good weekend to all !
another thing that makes me confident on NZD and AUD ,
i'v made a new tool on my website that record each 5 minutes the currency strenght of each currency calculate from 28 cross.
The calculation of the strenght is not the same as that was to be found in other currency strenght indicator. it's the same calculation used into my EA.
i'm added volatility and pips value to get the result from past x periods.
On this chart line you can sees here AUD USD NZD from the last 24H (Period)
.
down trend from NZD and AUD clearly slow down and seems to want start a recovery .
i'v made a new tool on my website that record each 5 minutes the currency strenght of each currency calculate from 28 cross.
The calculation of the strenght is not the same as that was to be found in other currency strenght indicator. it's the same calculation used into my EA.
i'm added volatility and pips value to get the result from past x periods.
On this chart line you can sees here AUD USD NZD from the last 24H (Period)
.
down trend from NZD and AUD clearly slow down and seems to want start a recovery .
- #1,972
- May 17, 2013 11:20am May 17, 2013 11:20am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
{quote} looking the good side of things, market manipulation cause spike and trend ,if no manipulation the market would be flat and nothing to gain (loss) from.
http://www.nationalguard.mil/news/ar...arget-full.jpg
In trading, you have to be defensive and aggressive at the same time
- #1,973
- Edited 12:49pm May 17, 2013 12:34pm | Edited 12:49pm
- | Joined May 2013 | Status: Trader | 29 Posts
{quote} Hooo i'm not reading that !!! 450 pips left before margin-call ... if you want my opinion it's very risky to hold for the week-end put a tight SL (hope you have a broker that offer guaranteed stop loss for eventual gap on monday morning) and re-enter later if Stoploss is hit. Closing in loss is not a problem this is part of forex , you wait for a better entry later and be long again. Just my opinion
- #1,974
- May 17, 2013 12:54pm May 17, 2013 12:54pm
I sense price resistance on down side is getting stronger. from london to NY just 35pips.That is encouraging.I am building shorts on UCAD ideal spot above 280.You got very little fear on upside on UCAD. I do advise shorting if you got funds left.
- #1,975
- May 17, 2013 1:24pm May 17, 2013 1:24pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
{quote} Hey, Davit. Thanx for the 'heads up' on the UCAD 2 lots +. Puts a plaster on an otherwise gaping kiwi wound!
Fact is this is caused by "perceived US recovery" All bullshit! The unemployment and houseing is still down specially new home sells.
It won't be long when reality sinks in.
In trading, you have to be defensive and aggressive at the same time
- #1,977
- May 18, 2013 10:19am May 18, 2013 10:19am
- Joined Jan 2013 | Status: Trading defies logic | 4,643 Posts
When the facts change I change my mind, what do you do sir
- #1,978
- May 20, 2013 11:55am May 20, 2013 11:55am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time