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NZD/USD

  • #3,921
  • Mar 27, 2014 8:10am Mar 27, 2014 8:10am
Quoting tomspin
{quote} Euro can still go to 1.36 and have a target at 1.41 GU bounce from 1,6464 can go to 1.7150 to be exact. The best thing you can do is always listen to yourself so I cannot say you or me are right about market's direction but we are both right cause we will both ignore those views and stick with plan. See, thats call diplomacy in my books.
Tomspin,

Your numbers and outlook is sound.


Quoting tomspin
why anybody would like to short currency with recently raised rates(highest) in zirp environment? btfd, rates are main driver in value in forex it's like first, most important thing. Nothing else matters atm.
Maybe because their chart say so or the market has priced in too steep of a tightening curve, or Wheeler is going to lose his mind if kiwi fly.

This should be an important level.
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #3,922
  • Mar 27, 2014 8:14am Mar 27, 2014 8:14am
Thanks slow trader.

Yes, patience is key. I remember placing a pending for 100 USD/JPY last year, then just deleting it because I thought it was crazy. ie. the market moves, but not as we 'want it to'.

I compare price to a cake of slippery soap that will slide out of our hands, the more we try to snatch it (I know that sounds very weird, but it helps me). The trick being, to accept how the market operates and exploit that, rather than hoping it moves sequentially in the short term.

Thanks again for the info, slow trader. I'll cook some schnitzel and chips and study it - it seems to require some actual brainpower. Cheers.
  • #3,923
  • Mar 27, 2014 8:14am Mar 27, 2014 8:14am
Quoting Davit
Harmonically we are in 1.618 extension. {image}
h
gosh im also holding short, but but its gettiing painful....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #3,924
  • Mar 27, 2014 8:20am Mar 27, 2014 8:20am
Quoting Didgeridoo
Thanks slow trader. Yes, patience is key. I remember placing a pending for 100 USD/JPY last year, then just deleting it because I thought it was crazy. ie. the market moves, but not as we 'want it to'. I compare price to a cake of slippery soap that will slide out of our hands, the more we try to snatch it (I know that sounds very weird, but it helps me). The trick being, to accept how the market operates and exploit that, rather than hoping it moves sequentially in the short term. Thanks again for the info, slow trader. I'll cook some schnitzel...
By 'brain power' you mean work? yes it does, traders often don't do the work that is required!

If you learn this system, you won't have to wait to long. Because you find the 2 nearest weekly big bars, buy order if below you and sell order if it is above you. One of them will get tested and trigger. Most likely, it won't break the first time ... it will bounce off, if it does ... then you put trade to BE or + a few, then enjoy a few hundred pips or a no-cost close out/sl.
  • #3,925
  • Mar 27, 2014 8:24am Mar 27, 2014 8:24am
Quoting slow-trader
{quote} By 'brain power' you mean work? yes it does, traders often don't do the work that is required! If you learn this system, you won't have to wait to long. Because you find the 2 nearest weekly big bars, buy order if below you and sell order if it is above you. One of them will get tested and trigger. Most likely, it won't break the first time ... it will bounce off, if it does ... then you put trade to BE or + a few, then enjoy a few hundred pips or a no-cost close out/sl.

if we don't go to 0.8695 today a new downtrend will start. don't ask me how? my system tells me techs want that as final target and their best chance is today. so if we don't go there we are possibly heading to 0.8380
  • #3,926
  • Mar 27, 2014 8:24am Mar 27, 2014 8:24am
Quoting fxtyrant
{quote}h gosh im also holding short, but but its gettiing painful....
Hi bro
Best thing I have done is reduced my position sizes.Trade smaller to allow margin of error.Too painful sounds you are too large.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #3,927
  • Mar 27, 2014 8:26am Mar 27, 2014 8:26am
Quoting giveachance
{quote} if we don't go to 0.8695 today a new downtrend will start. don't ask me how? my system tells me techs want that as final target and their best chance is today. so if we don't go there we are possibly heading to 0.8380
not sure how many times have ur system correct ... but hopefully this time get it right though
just short AU and about short NU
  • #3,928
  • Mar 27, 2014 8:28am Mar 27, 2014 8:28am
Quoting ozboy
{quote} not sure how many times have ur system correct ... but hopefully this time get it right though just short AU and about short NU
i have balls to admit I am wrong and I got stopped out on my gbp/aud and gbp/usd trades yesterday and today. I have still made 300 pips and lost 150 pips in two trades. so net net I am plus 150 pips this week.
  • #3,929
  • Mar 27, 2014 8:28am Mar 27, 2014 8:28am
Quoting slow-trader
{quote} By 'brain power' you mean work? yes it does, traders often don't do the work that is required! If you learn this system, you won't have to wait to long. Because you find the 2 nearest weekly big bars, buy order if below you and sell order if it is above you. One of them will get tested and trigger. Most likely, it won't break the first time ... it will bounce off, if it does ... then you put trade to BE or + a few, then enjoy a few hundred pips or a no-cost close out/sl.
Thanks for that. Yes, brainpower is needed, not hastiness. On the flip side, I generally suffer analysis paralysis. But, I suppose that is a result of not proactively applying my strategy. My strategy could definitely benefit from your wisdom. You seem to have a nice, broad perspective - which is what is required to capture a decent amount of pips.
  • #3,930
  • Mar 27, 2014 8:31am Mar 27, 2014 8:31am
Quoting giveachance
{quote} if we don't go to 0.8695 today a new downtrend will start. don't ask me how? my system tells me techs want that as final target and their best chance is today. so if we don't go there we are possibly heading to 0.8380
lol, what system is this?
  • #3,931
  • Mar 27, 2014 8:31am Mar 27, 2014 8:31am
Quoting slow-trader
{quote} lol, what system is this?
and you think i will tell you that???
  • #3,932
  • Mar 27, 2014 8:33am Mar 27, 2014 8:33am
Quoting Didgeridoo
{quote} Thanks for that. Yes, brainpower is needed, not hastiness. On the flip side, I generally suffer analysis paralysis. But, I suppose that is a result of not proactively applying my strategy. My strategy could definitely benefit from your wisdom. You seem to have a nice, broad perspective - which is what is required to capture a decent amount of pips.
I spend 3 hours every Saturday doing that (updating) with all my charts (30+ in currency, same with stocks/commodities).

If you do that every Saturday, when markets are dead. and on Sunday you put in your orders for the week and then leave it alone ( check it every day at the same time) you will make money ...

take 10% of your account, put it into another account, and use that to day trade.

This isn't advice, it is what I do. ... it just works for me.
  • #3,933
  • Mar 27, 2014 8:33am Mar 27, 2014 8:33am
Quoting giveachance
{quote} and you think i will tell you that???
I hope not. I don't feel like losing money.
  • #3,934
  • Mar 27, 2014 8:34am Mar 27, 2014 8:34am
Quoting slow-trader
{quote} I hope not. I don't feel like losing money.
ya sucker. you have blown so many accounts in first 3 years that you are used to losing. stop giving trading lessons here.
  • #3,935
  • Mar 27, 2014 8:38am Mar 27, 2014 8:38am
Quoting giveachance
{quote} ya sucker. you have blown so many accounts in first 3 years that you are used to losing. stop giving trading lessons here.
Yes, I have learned and I am use to losing, and because of that ... taking a loss doesn't affect me.

Maybe that is your problem, you aren't used to losing .. so you hold onto losing trades (over 1000 lost pips!).

It isn't a trading lesson, it is what I do ... I don't care what anyone does, I listed what I do and what works for me ... DoD, WoW, MoM, and YoY and am positive .. why, because I don't hold losses ... plan and simple.
  • #3,936
  • Mar 27, 2014 8:40am Mar 27, 2014 8:40am
Quoting slow-trader
{quote} Yes, I have learned and I am use to losing, and because of that ... taking a loss doesn't affect me. Maybe that is your problem, you aren't used to losing .. so you hold onto losing trades (over 1000 lost pips!). It isn't a trading lesson, it is what I do ... I don't care what anyone does, I listed what I do and what works for me ... DoD, WoW, MoM, and YoY and am positive .. why, because I don't hold losses ... plan and simple.
so please shut up and don't reply to my posts if thats the case. don't speak w/o having knowledge. I don't hold a trade for 1000 pips.
  • #3,937
  • Mar 27, 2014 8:42am Mar 27, 2014 8:42am
Quoting giveachance
{quote} so please shut up and don't reply to my posts if thats the case. don't speak w/o having knowledge. I don't hold a trade for 1000 pips.
I like dialogue. I think you are angry because you are in losing trades. When you stop out, you do revenge trades and lose more. Right now you are having a bad time because you are at a loss.

I only have my knowledge and it works for me. You have yours, if it works for you ... great!

ignore me if you want ... don't care ... but if you respond to me, you are keeping dialogue open!
  • #3,938
  • Mar 27, 2014 8:46am Mar 27, 2014 8:46am
Quoting slow-trader
{quote} I like dialogue. I think you are angry because you are in losing trades. When you stop out, you do revenge trades and lose more. Right now you are having a bad time because you are at a loss. I only have my knowledge and it works for me. You have yours, if it works for you ... great! ignore me if you want ... don't care ... but if you respond to me, you are keeping dialogue open!
thats what i will do. I have closed all my kiwi trades today in -40 pips loss.
  • #3,939
  • Mar 27, 2014 8:47am Mar 27, 2014 8:47am
Quoting giveachance
{quote} thats what i will do. I have closed all my kiwi trades today in -40 pips loss.
Where did you close them? was it market close or SL trigger? how big were the trades(leverage & %)?
  • #3,940
  • Mar 27, 2014 9:22am Mar 27, 2014 9:22am
NZDUSD at the top but not breaking highs, Short with stop a few pips above ... (sl .8684) This is a pullback or close out trade, 7 pips lost or 10-80 gained. immediate move to BE if we get to .8670
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