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  • #141
  • Aug 5, 2014 5:18am Aug 5, 2014 5:18am
Quoting Rag2RichesFX
Genius. If only I watched this years ago. http://youtube.com/watch?v=FyAeujRwLxM s
Great video, im gonna get a beer and popcorn and watch the whole thing, plus take notes.
It took me years to learn what he is saying, i too do not use stops and i also scale in, wait for pull back and exit at break even im most cases.

Nice thread but you may lose people as it seems like your journal, as much as we love to read about your wins, we cant become attached to just that.
I understand you dont want to post strategies etc, how about a pamm account. Ill invest 5k euros
Ill take a punt with you, sounds like you know what your doing..
Three places for pamms, fibo markets (norway or northern europe somewhere), fxopen australia and alpari limited russia
Good work chap
  • #142
  • Aug 5, 2014 5:23am Aug 5, 2014 5:23am
Bought EU at 3388 with SL 3378 (day trade account, small money)

Should give 10 pips profit before hitting SL.
Be hopeful in a winning position, and fearful in a losing position.
  • #143
  • Aug 5, 2014 6:02am Aug 5, 2014 6:02am
Hi R2R, does your strat work with commodities, could you give your take on xau and coffee, cheers
  • #144
  • Aug 5, 2014 6:37am Aug 5, 2014 6:37am
USDCAD is flying. Buying the dip is pretty much guaranteed profit.

I think its headed to 1.12

Put some limit orders around 0935 and 0930 for a double top scalp or continuation to higher highs..

should workout..
Attached Image
Be hopeful in a winning position, and fearful in a losing position.
  • #145
  • Aug 5, 2014 6:49am Aug 5, 2014 6:49am
Quoting Rag2RichesFX
The only sellers are LONGS from under 7900, from 2012. Nobody is initiating speculative shorts at these levels, at least not with any substantial size. {image}

If you don't mind me to say something. Those two years old longs had up to 1,000 pips profit. If they did not exit long time ago, they are not that smart money.

You are focusing solely on the big money. What about the trapped money? Yes, it would be foolish to build short positions above a multi year support area, but what about those buying this 1,000 pips down leg? It is reasonable for them to sell the bounces. During the last 500 pips there was no correction. They have risk parameters and at some point they have to sell. They have to sell even when there is no liquidity present.

I am not saying that you are wrong, just a little bit one sided. There might be plenty of sellers here, while we do not know where the big money is. They might be here, or below the 0.7750 bottom.
  • #146
  • Aug 5, 2014 6:50am Aug 5, 2014 6:50am
Quoting Visitor
{quote} If you don't mind me to say something. Those two years old longs had up to 1,000 pips profit. If they did not exit long time ago, they are not that smart money. You are focusing solely on the big money. What about the trapped money? Yes, it would be foolish to build short positions above a multi year support area, but what about those buying this 1,000 pips down leg? It is reasonable for them to sell the bounces. During the last 500 pips there was no correction. They have risk parameters and at some point they have to sell. They have to...
They did exit, however, they could not exit all of their positions at 8800, because not enough liquidity existed. Some of their positions they can close for 1000 pips a year ago, the big ones they have to close for +100-300 pips now. And they been exiting all the way down, increasingly bigger as price moves lower (more buyers to fill the orders)

Be hopeful in a winning position, and fearful in a losing position.
  • #147
  • Aug 5, 2014 6:55am Aug 5, 2014 6:55am
As has always been the plan (limits)...
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Be hopeful in a winning position, and fearful in a losing position.
  • #148
  • Aug 5, 2014 6:58am Aug 5, 2014 6:58am
I recommend starting EU longs (grid or tight stop, dont matter)

for NY session

Target 1.34/1.341

EURAUD actually might be better, its already shown stronger support.

I may try small buy on EU
1.3385 limit s/l 1.3378
Be hopeful in a winning position, and fearful in a losing position.
  • #149
  • Aug 5, 2014 7:10am Aug 5, 2014 7:10am
Quoting Rag2RichesFX
As has always been the plan (limits)... {image}
The longer term picture (buy stops and buy limits for monthly reversal)

going to to leave you all with this pic and get some rest after NY session and I'll be back for Japan open

EG Monthly
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Be hopeful in a winning position, and fearful in a losing position.
  • #150
  • Aug 5, 2014 1:45pm Aug 5, 2014 1:45pm
Viscous move on EG. As I said, if It corrects 7910 this week then it will bounce hard.

My next limits are at 7910s, they didn't get hit unfortunately. Maybe tomorrow.
Be hopeful in a winning position, and fearful in a losing position.
  • #151
  • Aug 5, 2014 2:30pm Aug 5, 2014 2:30pm
Finally AUDNZD had breakout

See, this is why I don't use tight stops. I know the EU is going to bounce here.

But when you use wide stops, you must add to loser, or you will never make profit, because your cost basis is far away.
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Be hopeful in a winning position, and fearful in a losing position.
  • #152
  • Aug 5, 2014 2:37pm Aug 5, 2014 2:37pm
Quoting Rag2RichesFX
Viscous move on EG. As I said, if It corrects 7910 this week then it will bounce hard. My next limits are at 7910s, they didn't get hit unfortunately. Maybe tomorrow.
Hey Rags somethin' to chew on ?

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Once You See, You Can't Unsee But You Will Get The Odd Poke In The Eye
  • #153
  • Aug 5, 2014 2:43pm Aug 5, 2014 2:43pm
USDCAD short
Attached Image
Be hopeful in a winning position, and fearful in a losing position.
  • #154
  • Aug 5, 2014 2:44pm Aug 5, 2014 2:44pm
I do like that trading plan... Good luck!

try to get a trade explorer up
Doc K
  • #155
  • Edited 3:07pm Aug 5, 2014 2:46pm | Edited 3:07pm
Quoting Stu Effex
{quote} Hey Rags somethin' to chew on ? {image}
Too early to say but certainly possible, that requires a large death in the USD for that scenario to playout.

On the contrary, we could see 9800 in a few years if US equities breakdown again.

I have a buddy who can call Quarterly tops and bottoms, he's starting his own fund lol.

I'm not even close to that good yet, although I do hit TPs pretty close a good amount of time.


EURGBP 240 and 1 Hour (possible inverse head and shoulder)
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Be hopeful in a winning position, and fearful in a losing position.
  • #156
  • Aug 5, 2014 2:54pm Aug 5, 2014 2:54pm
Quoting Rag2RichesFX
Day trade GU short, with highest limit 6900, SL 6910 {image}
Even though I am now carrying negative equity on EG - the GU short scalp helped cover some of it +25 pips with decent size (highly confident in that news/data spike fade)

Also UCAD long and AUDNZD long produced nice results, so the EG negative equity of 25 pips is not so bad (cost average 7950 currently, and TP last week at 7970)

This is why I trade multiple pairs
Be hopeful in a winning position, and fearful in a losing position.
  • #157
  • Aug 5, 2014 3:13pm Aug 5, 2014 3:13pm
EURAUD dip worked too (with limits)

Almost exactly as expected (the waves)
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Be hopeful in a winning position, and fearful in a losing position.
  • #158
  • Aug 5, 2014 3:27pm Aug 5, 2014 3:27pm
Quoting Rag2RichesFX
{quote} Too early to say but certainly possible, that requires a large death in the USD death for that scenario to playout. On the contrary, we could see 9800 in a few years if US equities breakdown again. I have a buddy who can call Quarterly tops and bottoms, he's starting his own fund lol. I'm not even close to that good yet, although I do hit TPs pretty close a good amount of time. EURGBP 240 and 1 Hour (possible inverse head and shoulder) {image} {image}

Last time E/G down @ .72 end of 2007 , dollar was not a million miles away from where it is at now. Think push come to shove money will flow to Stirling. The great euro experiment is resting on cocktail sticks rather than concrete foundations. UK will be pushing for referendum to pull away from Europe which will further bolster the Pound. Most of Europe does not want the Euro apart from Germany ( The Financial Architects not the rank and file ). One thing for sure, time will tell eventually. My fundamental interpretation doesn't get much deeper I'm afraid ! Anyway will be buying around 0.777x then looking to short around 0.8150 ish and see what happens.

Got in at .095 on Aud-Nzd, and Ucad is currently up about 280, looking to let this run for a good while yet if Mr Market allows of course.
Good look with your endeavours.
Once You See, You Can't Unsee But You Will Get The Odd Poke In The Eye
  • #159
  • Aug 5, 2014 3:41pm Aug 5, 2014 3:41pm
EURGBP 15min
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Be hopeful in a winning position, and fearful in a losing position.
  • #160
  • Aug 5, 2014 3:43pm Aug 5, 2014 3:43pm
EG 4-hr
Attached Image
Be hopeful in a winning position, and fearful in a losing position.
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