AUD/USD | Page 4290 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

AUD/USD

Similar Threads

EUR/GBP, EUR/USD, GBP/USD, AUD/USD, CAD, NZD, JPY, and more... 15 replies

EUR/USD, AUD/USD, and CAD/USD ready to move up 2 replies

Anyone here trading AUD/USD or USD/AUD tonight regarding AUS Home Loan Report? 1 reply

The AUD/USD 1.00 EUR/AUD 1.60 GBP/AUD 2.00 Thread! 0 replies

AUD Trade Balance and AUD Retail sales 6 replies

Attachments: AUD/USD
Exit Attachments

AUD/USD

  • #85,781
  • Oct 23, 2014 1:19pm Oct 23, 2014 1:19pm
Quoting benaiah
{quote} Okay, I completely understand not using an SL on the weekly time frame, since it's longer term and it is not really significant what the price does on any given day. However, you have to have some sort of manual SL in mind. I mean how low would it go before you decide to exit?
In my past 10 years of trading Forex and losing a lot I learned that when RSI and stoichiometry coinciding, that is, giving the same information on the weekly chart my chance of winning is extremely high.
  • #85,782
  • Oct 23, 2014 1:22pm Oct 23, 2014 1:22pm
Quoting Fx-opinion
{quote} In my past 10 years of trading Forex and losing a lot I learned that when RSI and stoichiometry coinciding, that is, giving the same information on the weekly chart my chance of winning is extremely high.
Yes, but all it takes is one really bad lose to erase all of those nice winners. You say you never exit a losing trade? I highly doubt that.
  • #85,783
  • Oct 23, 2014 1:24pm Oct 23, 2014 1:24pm
Quoting KissFan
{quote} LOL! Thanks for being a good sport and best of trading to you. K.I.S.S.
better take those profits on your short trade
  • #85,784
  • Oct 23, 2014 1:24pm Oct 23, 2014 1:24pm
Quoting benaiah
{quote} However, I don't think any intraday trader should ever assume the daily low or prior day low will be broken. Too risky. A lot of buyers hang around there, especially in an uptrend or range bound market... Again, just my opinion...

Good information. I'll use it after my short trade. Just don't put your buy order in until .8744.

K.I.S.S.
  • #85,785
  • Oct 23, 2014 1:26pm Oct 23, 2014 1:26pm
Quoting KissFan
{quote} Good information. I'll use it after my short trade. Just don't put your buy order in until .8744. K.I.S.S.
Ha ha, good one.

But I already went long at 8755 first time it touched down. Now the low is 8754, as it bounces one more time...
  • #85,786
  • Oct 23, 2014 1:26pm Oct 23, 2014 1:26pm
Quoting benaiah
{quote} Yes, but all it takes is one really bad lose to erase all of those nice winners. You say you never exit a losing trade? I highly doubt that.
I do not trade a lot and perhaps 1 or 2 trades per 2-3 months. Why? I am patient and whenever I see RSI and stoichiometry are the same on the weekly chart I open either sell or buy trade. I am very patient because I lost a lot and do not want to lose more.
  • #85,787
  • Oct 23, 2014 1:27pm Oct 23, 2014 1:27pm
I'll look forward for the super bull to rock on .

Each day's low is increasing bit by bit till the bull rise and awaken ! Happy trading to you all
  • #85,788
  • Oct 23, 2014 1:28pm Oct 23, 2014 1:28pm
Quoting benaiah
{quote} Ha ha, good one. But I already went long at 8755 first time it touched down. Now the low is 8754, as it bounces one more time...

You will get to buy it again at 8744. What is your target?

K.I.S.S.
  • #85,789
  • Oct 23, 2014 1:29pm Oct 23, 2014 1:29pm
Quoting Fx-opinion
{quote} I do not trade a lot and perhaps 1 or 2 trades per 2-3 months. Why? I am patient and whenever I see RSI and stoichiometry are the same on the weekly chart I open either sell or buy trade. I am very patient because I lost a lot and do not want to lose more.
Okay, you're not really answering the question. Only way your method will work if you never exit a losing trade, is if you never lose a trade. So, are you saying you found the "holy grail" and you never ever lose a trade? Again, I highly doubt that. Sooner or later, you will lose big.
  • #85,790
  • Oct 23, 2014 1:33pm Oct 23, 2014 1:33pm
Quoting KissFan
{quote} You will get to buy it again at 8744. What is your target? K.I.S.S.
Hasn't been that low in 5 days, but I guess anything is possible. But as far as my upward target? I'm torn. Play the range? Or hold for a break out? Guess I'll decide when it gets up there...
  • #85,791
  • Oct 23, 2014 1:33pm Oct 23, 2014 1:33pm
Quoting benaiah
{quote} Okay, you're not really answering the question. Only way your method will work if you never exit a losing trade, is if you never lose a trade. So, are you saying you found the "holy grail" and you never ever lose a trade? Again, I highly doubt that. Sooner or later, you will lose big.
Well in respond to your question in addition of looking at the weekly chart I also receive extra help from a website that I can not mention the name here. Whenever they tell me to buy or sell a pair I look at the weekly chart as insurance and so far I have not lost a trade in about 2 years now.
  • #85,792
  • Oct 23, 2014 1:35pm Oct 23, 2014 1:35pm
Quoting Fx-opinion
{quote} Well in respond to your question in addition of looking at the weekly chart I also receive extra help from a website that I can not mention the name here. Whenever they tell me to buy or sell a pair I look at the weekly chart as insurance and so far I have not lost a trade in about 2 years now.

please post screen shot of at least last 30 days of trade history. pretty crazy to make a claim that you havent had a loss in 2 years. thats a better record than HFT trading...
I Am The Danger... I Am The One Who Knocks
  • #85,793
  • Oct 23, 2014 1:37pm Oct 23, 2014 1:37pm
Quoting Fx-opinion
{quote} Well in respond to your question in addition of looking at the weekly chart I also receive extra help from a website that I can not mention the name here. Whenever they tell me to buy or sell a pair I look at the weekly chart as insurance and so far I have not lost a trade in about 2 years now.
Okay, good for you. I still think no SL will catch up with you eventually, unless you hedge in some way.

Anyway, only a few trades a year wouldn't work for me, as I need to see a more frequent profit. But thanks for sharing.

Happy trading
  • #85,794
  • Oct 23, 2014 1:39pm Oct 23, 2014 1:39pm
Quoting HeisenbergFx
{quote} please post screen shot of at least last 30 days of trade history. pretty crazy to make a claim that you havent had a loss in 2 years. thats a better record than HFT trading...
Thank you for your comment and you are absolutely right. After my open position on AUDUSD is closed I will not post the trade history but I will give you my investment password.
  • #85,795
  • Oct 23, 2014 1:39pm Oct 23, 2014 1:39pm
Quoting benaiah
{quote} Okay, good for you. I still think no SL will catch up with you eventually, unless you hedge in some way. Anyway, only a few trades a year wouldn't work for me, as I need to see a more frequent profit. But thanks for sharing. Happy trading
I might also add, in 2 years, you've only made, what? Less than 10 trades? Sounds like a good winning streak, but nothing to write home about... Anyone can have a nice winning streak. But no one never loses.
  • #85,796
  • Oct 23, 2014 1:41pm Oct 23, 2014 1:41pm
Quoting benaiah
{quote} Okay, good for you. I still think no SL will catch up with you eventually, unless you hedge in some way. Anyway, only a few trades a year wouldn't work for me, as I need to see a more frequent profit. But thanks for sharing. Happy trading
You are welcome and sorry that I could not be more transparent on my answer to your question.
  • #85,797
  • Oct 23, 2014 1:41pm Oct 23, 2014 1:41pm
Quoting Fx-opinion
{quote} Thank you for your comment and you are absolutely right. After my open position on AUDUSD is closed I will not post the trade history but I will give you my investment password.
please inbox me details
I Am The Danger... I Am The One Who Knocks
  • #85,798
  • Oct 23, 2014 1:42pm Oct 23, 2014 1:42pm
Quoting benaiah
{quote} I might also add, in 2 years, you've only made, what? Less than 10 trades? Sounds like a good winning streak, but nothing to write home about... Anyone can have a nice winning streak. But no one never loses.
Yes, you are right. However, as I said I lost a lot of money before and do not want to lose more.
  • #85,799
  • Oct 23, 2014 1:43pm Oct 23, 2014 1:43pm
Its not the amount of time that goes by without a loss that matters. It's how many trades you take without a loss. You don't know your true win/loss ratio yet. You haven't lost with your method. You don't know how good your trading methodology is until you've tested long enough to know how you can recover from losses. At only few trades a year, it will be some time before you know how good it is.

That's like me doubling my account last week, and coming on here and telling everyone I never have a losing week. Doesn't make any sense.
  • #85,800
  • Oct 23, 2014 1:45pm Oct 23, 2014 1:45pm
And now your going to share your "investment password". Pleeeeaaaaase. Give me a break. Sounds like a sales pitch.
23 traders viewing now