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  • #31,781
  • Jun 6, 2013 6:42pm Jun 6, 2013 6:42pm
Yesterday late rally was nice..
but when i look at bigger picture, price was only testing previous support-becomes-resistance.
aud still in bearish mode..

every week AUD make new low,
i am guessing next Wed (sydney time), we will see new low.. 0.9325 (ABCD)?

have to close above 96 to avoid this scenario..
  • #31,782
  • Jun 6, 2013 6:46pm Jun 6, 2013 6:46pm
Monthly is short
Weekly is short
Daily is short
H4 is short
H1 is long and can go either direction
M15 is short and can go either direction
The More You Learn, The More You Earn.....
  • #31,783
  • Jun 6, 2013 6:50pm Jun 6, 2013 6:50pm
Quoting forexalien
Month is down Week is down Daily is short H4 is short H1 is long and can go either direction M15 is short and can go either direction
the only way to recover from this crazy loss is by hedging..
parity to 94 is 600pips..

if we sell on rallies, we can recover fast
  • #31,784
  • Jun 6, 2013 6:52pm Jun 6, 2013 6:52pm
Quoting HelloOz
Yesterday late rally was nice.. but when i look at bigger picture, price was only testing previous support-becomes-resistance. aud still in bearish mode.. every week AUD make new low, i am guessing next Wed (sydney time), we will see new low.. 0.9325 (ABCD)? have to close above 96 to avoid this scenario..
Valid point. I was surprised on on the dollar cash to be honest. I posted to one of DB's comments. I am staying flat atm, but if it closes above .98 it should be bullish. Not too far off, but unlike other pairs that ripped today, Aussie is already 40 pips down
When the facts change I change my mind, what do you do sir
  • #31,785
  • Jun 6, 2013 6:54pm Jun 6, 2013 6:54pm
Quoting Pip Anon
{quote} Valid point. I was surprised on on the dollar cash to be honest. I posted to one of DB's comments. I am staying flat atm, but if it closes above .98 it should be bullish. Not too far off, but unlike other pairs that ripped today, Aussie is already 40 pips down
i still cant believe you are a uni student..
i thought you are full time trader, you are very good mate.
  • #31,786
  • Jun 6, 2013 6:58pm Jun 6, 2013 6:58pm
Quoting HelloOz
{quote}{quote} thanks wasnt expecting this fast what a 360 degree turnaround
Me either. Was kind of bummed. Short AUDUSD and got 50 pips quick last night, but it end up to basically break even. SL was +2.5 pips yaaaay. But good thing I cut it

I seen weakness in USD around 9:30 before I had to leave for the day. I set up a quick and tight short on USDJPY. Netted 30, but shite if I was able to be at the monitor an reap the rewards. Oh, well - there will be more days, more trades!
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When the facts change I change my mind, what do you do sir
  • #31,787
  • Jun 6, 2013 7:02pm Jun 6, 2013 7:02pm
Quoting HelloOz
{quote} i still cant believe you are a uni student.. i thought you are full time trader, you are very good mate.
Thank you. I appreciate that. Almost done, about 50 units left. I trade more when on holidays and whatnot, but I analyze full-time lol. I think in the last two years, there has been 3 or 4 weeks where I didn't even look at a chart... it's almost a sickness Just aim to be the best I can and hone the craft so I do it full-time.
When the facts change I change my mind, what do you do sir
  • #31,788
  • Jun 6, 2013 7:42pm Jun 6, 2013 7:42pm
Im in the same boat except I'm still SHIT!
  • #31,789
  • Jun 6, 2013 8:01pm Jun 6, 2013 8:01pm
Quoting Arman_A
Im in the same boat except I'm still SHIT!
Self-deprivation never solves anything. What are you referring to?
When the facts change I change my mind, what do you do sir
  • #31,790
  • Jun 6, 2013 8:43pm Jun 6, 2013 8:43pm
Quoting Pip Anon
{quote} Self-deprivation never solves anything. What are you referring to?
lol as in im still learning.
I have blown my account twice already
  • #31,791
  • Jun 6, 2013 8:44pm Jun 6, 2013 8:44pm
Quoting Arman_A
{quote} lol as in im still learning. I have blown my account twice already
Just keep working at it. Stay positive.
When the facts change I change my mind, what do you do sir
  • #31,792
  • Jun 6, 2013 8:46pm Jun 6, 2013 8:46pm
Quoting Arman_A
{quote} lol as in im still learning. I have blown my account twice already
i made constant profit for 9 months and i blew all profit last month..
the amount is not small..
we all make mistake, how we get up and recover and learn is the most important thing.

if i can recover from this, i think i will be a better trader..
  • #31,793
  • Jun 6, 2013 9:03pm Jun 6, 2013 9:03pm
Quoting HelloOz
{quote} i made constant profit for 9 months and i blew all profit last month.. the amount is not small.. we all make mistake, how we get up and recover and learn is the most important thing. if i can recover from this, i think i will be a better trader..
We have all done it. There was a two week period I started with X, made XX, lost X, made XXX, lost XX, made X, lost X haha I was range trading myself.
When the facts change I change my mind, what do you do sir
  • #31,794
  • Jun 6, 2013 9:08pm Jun 6, 2013 9:08pm
Quoting Pip Anon
{quote} We have all done it. There was a two week period I started with X, made XX, lost X, made XXX, lost XX, made X, lost X haha I was range trading myself.
If i calculate all my gains over the last year and my account nearly blow this week (which is on its way to liquidation holding on to longs) i should be break even. But all that stress don't know if its been worth it?
I have had micro accounts as well which has caused my busts most of the time as well.
  • #31,795
  • Jun 6, 2013 9:19pm Jun 6, 2013 9:19pm
lol and my account just got liquidated and gone! hahah
  • #31,796
  • Jun 6, 2013 9:19pm Jun 6, 2013 9:19pm
Quoting Arman_A
{quote} If i calculate all my gains over the last year and my account nearly blow this week (which is on its way to liquidation holding on to longs) i should be break even. But all that stress don't know if its been worth it? I have had micro accounts as well which has caused my busts most of the time as well.
Sounds like you have to work on trade management. Keep you SL tight until you continuously make solid trades. I use to have a serious impulse issue. My analysis would be spot on, but I would enter just to get into a trade. It hurt me more times than it didn't.

I been staring at charts for 3 years and still a student. Trading is like life (sorry about the metaphorical), it is an ongoing journey. Work on your strategy, cancel out all the miscellaneous stuff, and study.

Support and resistance is key. I have been able to hone in on key areas.
When the facts change I change my mind, what do you do sir
  • #31,797
  • Jun 6, 2013 9:21pm Jun 6, 2013 9:21pm
What in gods name is going on?
  • #31,798
  • Jun 6, 2013 9:25pm Jun 6, 2013 9:25pm
Quoting Pip Anon
{quote} Sounds like you have to work on trade management. Keep you SL tight until you continuously make solid trades. I use to have a serious impulse issue. My analysis would be spot on, but I would enter just to get into a trade. It hurt me more times than it didn't. I been staring at charts for 3 years and still a student. Trading is like life (sorry about the metaphorical), it is an ongoing journey. Work on your strategy, cancel out all the miscellaneous stuff, and study. Support and resistance is key. I have been able to hone in on key areas....
I predict very well, im good at working out where the price will go.

Emotions and boredom is what just killed my account.
Emotion - stress and anxiety and trying everything to get back what i lost
Boredom - Making a trade for the hell of it.
  • #31,799
  • Jun 6, 2013 9:25pm Jun 6, 2013 9:25pm
Quoting feather
What in gods name is going on?
Yen is going nuts
When the facts change I change my mind, what do you do sir
  • #31,800
  • Jun 6, 2013 9:28pm Jun 6, 2013 9:28pm
Quoting DaddyBear
{quote} This Map was off. {image}
Although the Map was off, the basic directions were close. It was difficult to nail down the turning point. Today I have learned one lesson that R/S or TL are illusions most of the time.
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