Aussie Trading Room and Cartoons Gallery | Page 1604 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading Cartoons and Pics 2,832 replies

EUR/USD Trading Room 328 replies

Do The Trading Room 20 replies

Attachments: Aussie Trading Room and Cartoons Gallery
Exit Attachments

Aussie Trading Room and Cartoons Gallery

  • #32,061
  • Jun 11, 2013 3:10pm Jun 11, 2013 3:10pm
Quoting DaddyBear
When I first traded AU, it was at 0.5xxx. When it went up to 0.6xxx, I thought it was too high. Now most people including myself are thinking it's too low. Eradicating such a ideology of being too high or being too low is a must to be successful in the Forex trading IMO.
Very good point, DB.

Although you contradict yourself a bit. You say "most people including myself are thinking..."

You need to practice what you preach, brother; eradicate that bias!

Until we see the lows tested and hold, I have to remain bearish. To speculate on when or where the bounce, pullback, reversal (whatever you want to call it) will occur is not only a tiring exercise, but it can be a costly one too (both in terms of real losses and opportunity costs).
check out my blog: forexmademillionaire dot com
  • #32,062
  • Jun 11, 2013 3:21pm Jun 11, 2013 3:21pm
Hey Guys, rotate your screen 180°....
  • #32,063
  • Jun 11, 2013 3:23pm Jun 11, 2013 3:23pm
Quoting Geppy
{quote} Very good point, DB. Although you contradict yourself a bit. You say "most people including myself are thinking..." You need to practice what you preach, brother; eradicate that bias! Until we see the lows tested and hold, I have to remain bearish. To speculate on when or where the bounce, pullback, reversal (whatever you want to call it) will occur is not only a tiring exercise, but it can be a costly one too (both in terms of real losses and opportunity costs).
You could misunderstand what I think about the bottoms. I trade short term. Whether or not it is a reversal is not my concern. What I am looking for are the two extremes of waves. I am not picking the bottoms.
daddybearforex. com
  • #32,064
  • Jun 11, 2013 3:24pm Jun 11, 2013 3:24pm
Quoting Afarensis
Hey Guys, rotate your screen 180°....
All 8 of them........?
The More You Learn, The More You Earn.....
  • #32,065
  • Jun 11, 2013 3:25pm Jun 11, 2013 3:25pm
Quoting Afarensis
Hey Guys, rotate your screen 180°....
My monitor will show the same picture as usually... Is yours made in China?
daddybearforex. com
  • #32,066
  • Jun 11, 2013 3:30pm Jun 11, 2013 3:30pm
Quoting DaddyBear
{quote} I know 0.9436 is the daily pivot. But, how strong is it?
My platform has the daily pivot at .9444 which is acting as resistance.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 30 KB
  • #32,067
  • Jun 11, 2013 3:31pm Jun 11, 2013 3:31pm
Quoting DaddyBear
{quote} You could misunderstand what I think about the bottoms. I trade short term. Whether or not it is a reversal is not my concern. What I am looking for are the two extremes of waves. I am not picking the bottoms.
Gotcha... I'm more of a medium to long-term trader myself. Don't mind holding my trades for a few days.

Good to know!
check out my blog: forexmademillionaire dot com
  • #32,068
  • Jun 11, 2013 3:39pm Jun 11, 2013 3:39pm
Quoting DaddyBear
{quote} My monitor will show the same picture as usually... Is yours made in China?
haha...Long here ....0.9435..TP 0.9535 , SL 0.9290
  • #32,069
  • Jun 11, 2013 3:44pm Jun 11, 2013 3:44pm
Quoting Afarensis
{quote} haha...Long here ....0.9435..TP 0.9535 , SL 0.9290
IMO, you may be able to get in at a lower level later. Why hurry?
daddybearforex. com
  • #32,070
  • Jun 11, 2013 3:49pm Jun 11, 2013 3:49pm
Quoting Afarensis
{quote} haha...Long here ....0.9435..TP 0.9535 , SL 0.9290
Hey Afarensis,

You can tell me to shut the f$*k up if you want, but that's a scary reward/risk you've got planned there.

You're essentially risking 145 pips to earn 100 pips which comes out to a 0.69x ratio (100/140). All that means is that for every pip you're risking, you're only allowing yourself to make 0.69 pips.

You probably know this, since it's easy math... just running through it for others who may not.

All that being said, most people aim for much higher reward/risk ratios. Personally, I'm always looking for trades that are at least 2.0x (e.g. TP is 200 pips and SL is 100 pips) or even better than that. This means I could be wrong on 60% of my trades and still make money! Heck, I could be wrong 70% of the time and still break even.

I'm not sure what your experience level or win ratio is, but this is potentially pretty dangerous. It may be better to wait for a spot where you feel like you can tighten that SL and bring your reward/risk ratio up a bit.
check out my blog: forexmademillionaire dot com
  • #32,071
  • Jun 11, 2013 3:57pm Jun 11, 2013 3:57pm
Quoting Geppy
{quote} Hey Afarensis, You can tell me to shut the f$*k up if you want, but that's a scary reward/risk you've got planned there. You're essentially risking 145 pips to earn 100 pips which comes out to a 0.69x ratio (100/140). All that means is that for every pip you're risking, you're only allowing yourself to make 0.69 pips. You probably know this, since it's easy math... just running through it for others who may not. All that being said, most people aim for much higher reward/risk ratios. Personally, I'm always looking for trades that are at...
Ok..maybe you are right...but my win rate is more than 70%..and my SL is not fixed, sometimes closed my trades when the PA is telling me that i am wrong....
  • #32,072
  • Jun 11, 2013 4:04pm Jun 11, 2013 4:04pm
PA is still very much bearish , though won't enter here , will look to short if it bounces till 0.9523 and falls from there.
GL
  • #32,073
  • Jun 11, 2013 4:11pm Jun 11, 2013 4:11pm
Quoting Afarensis
{quote} Ok..maybe you are right...but my win rate is more than 70%..and my SL is not fixed, sometimes closed my trades when the PA is telling me that i am wrong....
Looks like you're all set then

GL with the trade!
check out my blog: forexmademillionaire dot com
  • #32,074
  • Jun 11, 2013 7:29pm Jun 11, 2013 7:29pm
High wire no net stops at BE with a few pips banked. lol Here is what I'm looking at for Harmonic analysis on the 1hr chart.



Attached Image (click to enlarge)
Click to Enlarge Name: AudUsd 1hr.gif Size: 59 KB





Enjoy, have fun, make a great day, do your Due diligence, trade your plan, and may we all make bank (http://www.forexfactory.com/#)
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #32,075
  • Jun 11, 2013 7:36pm Jun 11, 2013 7:36pm
Quoting Afarensis
Hey Guys, rotate your screen 180°....

ok good idea.. seem i just the one to understand it....

thanks for the entertaining lol
  • #32,076
  • Jun 11, 2013 7:38pm Jun 11, 2013 7:38pm
Quoting CNTrader
High wire no net stops at BE with a few pips banked. lol Here is what I'm looking at for Harmonic analysis on the 1hr chart. {image} Enjoy, have fun, make a great day, do your Due diligence, trade your plan, and may we all make bank (http://www.forexfactory.com/#)

yes.. i want she become to like that... on same time with the employment news
  • #32,077
  • Jun 11, 2013 7:46pm Jun 11, 2013 7:46pm
Quoting arqish
{quote} yes.. i want she become to like that... on same time with the employment news
.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.png Size: 24 KB
  • #32,078
  • Jun 11, 2013 7:52pm Jun 11, 2013 7:52pm
Quoting HelloOz
{quote} you got a point.. we may be in CZ soon.. looking at H4 chart.. we only start 2nd bar with 3hrs left.. plenty of time to reach target.. at least 8 hrs.. might be able to catch some sleep..
posted 9hrs ago.. almost 0.95..
  • #32,079
  • Jun 11, 2013 8:01pm Jun 11, 2013 8:01pm
my plan was to short at .954.. but we have a bullish daily candle..
maybe DB is right.. we could see 98-99 ...

DB.. do you expect 3 wave correction to 99?
  • #32,080
  • Jun 11, 2013 9:45pm Jun 11, 2013 9:45pm
% of retail shorting are more than long..
this is quite a turn around

38% long
62% short
8 traders viewing now