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USD/CAD

  • #4,221
  • Sep 19, 2013 1:03am Sep 19, 2013 1:03am
Quoting USD-Bear
{quote} Hi Taudrader, what bail level are you using if I may ask?
Good day to you, USD=Bear

My apology - caught some ZZZ.

I do not have a bail level. 1.0185 will be the next long entry for me. Making provision for a level lower down @ 1.0127-1.0125 - if need be. Just ensure that ones BE is below 1.02500 for now and one should be golden.

All the best to you

Regards
  • #4,222
  • Sep 19, 2013 3:51am Sep 19, 2013 3:51am
Quoting TauTrader
{quote} Good day to you, USD=Bear My apology - caught some ZZZ. I do not have a bail level. 1.0185 will be the next long entry for me. Making provision for a level lower down @ 1.0127-1.0125 - if need be. Just ensure that ones BE is below 1.02500 for now and one should be golden. All the best to you Regards
thanks TauTrader,
admire your confidence, your technique is so different from mine.
I'm an hit and run (quick BE) type, trying to pin-point the ideal (extreme) moment but run away quickly if it isn't.
Normally it leads to a lot of BE/Bad trades like my UC buy at 1.0284 seeing it closed @ BE after 1.0317, but the good ones pay for the rest.
100 pips wrong (trades I almost never take) would lead to more then 10% draw-down on my account.
Dealing with much less leverage to enable larger stops and larger building areas (I tried) almost always gets me in deals where I have no fun to be right because of the petite results it mostly creates.
Would love to hear your views in this respect.
Don't be a hero. Don't have an ego. Always question yourself
  • #4,223
  • Sep 19, 2013 5:04am Sep 19, 2013 5:04am
Quoting USD-Bear
{quote} thanks TauTrader, admire your confidence, your technique is so different from mine. I'm an hit and run (quick BE) type, trying to pin-point the ideal (extreme) moment but run away quickly if it isn't. Normally it leads to a lot of BE/Bad trades like my UC buy at 1.0284 seeing it closed @ BE after 1.0317, but the good ones pay for the rest. 100 pips wrong (trades I almost never take) would lead to more then 10% draw-down on my account. Dealing with much less leverage to enable larger stops and larger building areas (I tried) almost always...
Good day to you, sir

I have totally moved away from short term trades and do not look at any chart lower than 4hr - if I can help it. Unfortunately - draw down will be part and parcel for me. I guess one adopts a way of trading that fits with your personality. I believe from your post that you apply solid rules and the way you approach your trading is sound.

I have my own set of issues to deal with and I need a lot more refinement in my approach. Guaranteed.

But hopefully can improve as I go.

Yours is the better way.

All the best
  • #4,224
  • Sep 19, 2013 5:52am Sep 19, 2013 5:52am
Quoting TauTrader
{quote} Good day to you, sir I have totally moved away from short term trades and do not look at any chart lower than 4hr - if I can help it. Unfortunately - draw down will be part and parcel for me. I guess one adopts a way of trading that fits with your personality. I believe from your post that you apply solid rules and the way you approach your trading is sound. I have my own set of issues to deal with and I need a lot more refinement in my approach. Guaranteed. But hopefully can improve as I go. Yours is the better way. All the best
always good to search for ways of refinement, I have the time and means to be a short/medium term player, results are fine but mostly I hate myself collecting 30-40 heavy pips and missing the remaining 500-1000 which is the price I pay.
Always find myself in a situation where the amount of profit is too large to mentally be able to let it run.
Ah well so we all have our problems, appreciate your views
ps. started again a long UC @ 1.0194 but will bail @ 1.01 if necessary.
Don't be a hero. Don't have an ego. Always question yourself
  • #4,225
  • Sep 19, 2013 6:51am Sep 19, 2013 6:51am
Quoting USD-Bear
{quote} always good to search for ways of refinement, I have the time and means to be a short/medium term player, results are fine but mostly I hate myself collecting 30-40 heavy pips and missing the remaining 500-1000 which is the price I pay. Always find myself in a situation where the amount of profit is too large to mentally be able to let it run. Ah well so we all have our problems, appreciate your views ps. started again a long UC @ 1.0194 but will bail @ 1.01 if necessary.
Seems a little bit too easy that the turned right on the spot.. but we do not ask questions.. I'm looking to see if price will be rejected @ 1.02089 or if we could go through and find support there again. That could set us up to go to 1.02500 again.

Trade well
  • #4,226
  • Sep 19, 2013 7:08am Sep 19, 2013 7:08am
Quoting TauTrader
{quote} Seems a little bit too easy that the turned right on the spot.. but we do not ask questions.. I'm looking to see if price will be rejected @ 1.02089 or if we could go through and find support there again. That could set us up to go to 1.02500 again. Trade well
we certainly are not, buying mode until 1.0150 going to BE when 1.0240 is reached, after that going to sleep mode.
If 1.0240 reached waking alarms @ BE for searching better entries....
Don't be a hero. Don't have an ego. Always question yourself
  • #4,227
  • Sep 19, 2013 10:18am Sep 19, 2013 10:18am
Good day to you,

What would be encouraging - will be a close above 1.0228 today. This may then form a platform..

Still early days though

Regards
  • #4,228
  • Sep 19, 2013 11:02am Sep 19, 2013 11:02am
Quoting USD-Bear
{quote}
ps. started again a long UC @ 1.0194.
1.0240 reached, placed stop @ BE
Don't be a hero. Don't have an ego. Always question yourself
  • #4,229
  • Sep 19, 2013 11:05am Sep 19, 2013 11:05am
Quoting USD-Bear
{quote} 1.0240 reached, placed stop @ BE
Good call bro , missed by few pips
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  • #4,230
  • Sep 19, 2013 11:08am Sep 19, 2013 11:08am
Quoting salman14
{quote} Good call bro , missed by few pips {image}
thanks mate, hopefully it holds now, my previous call @ 1.0284 didn't...
Don't be a hero. Don't have an ego. Always question yourself
  • #4,231
  • Sep 19, 2013 11:10am Sep 19, 2013 11:10am
Closed weaker entries at BE as we moved.
  • #4,232
  • Sep 19, 2013 12:05pm Sep 19, 2013 12:05pm
Good day,

Hope to see support here as a base. May test 1.0228 again on next daily candle. If it holds - we may move higher towards 1.0300.

Regards
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  • #4,233
  • Sep 20, 2013 7:45am Sep 20, 2013 7:45am
Good day to you,

We touched 1.030x briefly..

We now have to look at 1.0302 - currently rejected. We want this to become the next support. I have locked in a little profit - so safe. Will leave the whole setup as is for now and will monitor over the next 2-3 weeks, as this will determine our road forward. The angle of the measuring period will give us a hint to the next key level for October.

The 1.0700 level remains open and that would be my ultimate target.

Trade well

Regards
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  • #4,234
  • Sep 20, 2013 8:03am Sep 20, 2013 8:03am
Mr Tau Trader, good day to you. Look forward to a nice weekend.

Here I set a Buy order at the 1.0200 level and was filled at 1.01999, while my son and I were away camping in the beautiful mountain lakes nearby. I was pleased to return and see my order was filled anticipating some draw down from my previous entry in the 1.03375 level. Looking for nice cycle upwards to an area I am still trying to decipher as I feel that the FED threw a curve at everyone with their recent spewing of mumbo jumbo regarding rates and future guidance.

Nevertheless, opportunity abounds as long as there is movement.

Many pips to ya!
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  • #4,235
  • Sep 20, 2013 8:18am Sep 20, 2013 8:18am
leaving long position untouched, might add some if it retraces towards 1.0230 otherwise sleeping mode

UC H1:
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Don't be a hero. Don't have an ego. Always question yourself
  • #4,236
  • Sep 20, 2013 8:19am Sep 20, 2013 8:19am
Quoting FxMaximus
Mr Tau Trader, good day to you. Look forward to a nice weekend. Here I set a Buy order at the 1.0200 level and was filled at 1.01999, while my son and I were away camping in the beautiful mountain lakes nearby. I was pleased to return and see my order was filled anticipating some draw down from my previous entry in the 1.03375 level. Looking for nice cycle upwards to an area I am still trying to decipher as I feel that the FED threw a curve at everyone with their recent spewing of mumbo jumbo regarding rates and future guidance. Nevertheless, opportunity...
Sir FX -

wondered what you were busy with..

Wow - camping with the mini me is incredibly precious and time well spent. I do these fishing trips 4 times a year as well. Into the mountains... best times ever.

I hope 1.0250 will remain a platform to protect my entries. 1.0302 has to become a platform to give us higher.

If we head back to 1.0209 - the picture changes slightly - as we will get a lower target for October. But I remain keen on 1.0700

So - have not said much - but bias obviously long towards the end of the year.

Take care!
  • #4,237
  • Sep 20, 2013 8:24am Sep 20, 2013 8:24am
Quoting USD-Bear
leaving long position untouched, might add some if it retraces towards 1.0230 otherwise sleeping mode UC H1: {image}
Sir USD,

Good approach..

This is my first true long term trade - I have time for this one..

2 months, 4 months, 6 months - does not matter.

Just have to manage the thing

All the best
  • #4,238
  • Sep 20, 2013 8:48am Sep 20, 2013 8:48am
Quoting TauTrader
{quote} Sir USD, Good approach.. This is my first true long term trade - I have time for this one.. 2 months, 4 months, 6 months - does not matter. Just have to manage the thing All the best
mine too, never succeed in those trades though because:
1. didn't catch the true bottom/top region, getting back BE
2. profits get so large, greed decisions get overhand.
This time position is not too large and recent lows were reached under some weird circumstances which PA acknowledged afterwards.
Then again, it takes levels around 1.0750 to get really out of the woods so patience is key here imo...

UC W1:
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Don't be a hero. Don't have an ego. Always question yourself
  • #4,239
  • Sep 20, 2013 9:14am Sep 20, 2013 9:14am
Quoting USD-Bear
{quote} mine too, never succeed in those trades though because: 1. didn't catch the true bottom/top region, getting back BE 2. profits get so large, greed decisions get overhand. This time position is not too large and recent lows were reached under some weird circumstances which PA acknowledged afterwards. Then again, it takes levels around 1.0750 to get really out of the woods so patience is key here imo... UC W1: {image}
sir USD,

Great.. I wish you success in this, then.

I'm off to attend my boys' grade 12 farewell function. It's cold and snowing on Table Mountain...

Out of 365 days - they pick this one. Worst case scenario.

But gotta be there for the kid.

hope we can converse again next week.

Look after yourself

Regards
  • #4,240
  • Sep 20, 2013 2:26pm Sep 20, 2013 2:26pm
Quoting TauTrader
{quote} sir USD, Great.. I wish you success in this, then. I'm off to attend my boys' grade 12 farewell function. It's cold and snowing on Table Mountain... Out of 365 days - they pick this one. Worst case scenario. But gotta be there for the kid. hope we can converse again next week. Look after yourself Regards
have a nice weekend TT, say hello to Your kid from me!
Looks the pair will end at his top neutralizing the FOMC effects, marvelous job.
Actually for the support of future moves, hoping for a bit of retrace now , 1.025 would be fine (not trading it).
See you next week
Don't be a hero. Don't have an ego. Always question yourself
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