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  • #541
  • Apr 8, 2016 3:10am Apr 8, 2016 3:10am
good discussion on here guys, keep it up. As for me, this pull back exceeded how far I thought it would go. In fact, price action was tough for me to figure out this week. The bullish inside daily candle on Wednesday failed me. The bearish engulfing daily candle yesterday is failing me. The 1hr Leg1/Leg2 pattern I was seeing has failed. So it appears that it's just not my week. My only guess is that people are taking profits from yesterday's sell off since it's Friday. So I'll call it an early week.

Have a great weekend everyone!
  • #542
  • Apr 11, 2016 6:50am Apr 11, 2016 6:50am
A short here around .7570 might be good...stop around .7590(or just above .7600 if you can afford the risk). Standard 30-50pip target.

Happy Trading!
  • #543
  • Apr 11, 2016 7:47am Apr 11, 2016 7:47am
Well, after my above post...price initially went 10pips in my direction..and then 40pips straight up. not sure why, no news or anything. All I can see though is that A/J is heading up, Eur/Aud is heading down...so there is Aussie strength right now for some reason. I see the Eur/Usd and Gbp/Usd are also heading up...so definite USD weakness at the moment.
  • #544
  • Apr 11, 2016 8:59am Apr 11, 2016 8:59am
Normal ADR on Aussie is around 100pips/day. That would put today's rally near .7630(+/-10pips)...if price makes it up there and stalls I'll try one more short and my target will only be to make back what I lost on the first trade. Some days are just not my day so I have to recognize that, admit it, and mitigate the damage to trade another day. If I take two losses, I'll just stop for the day as well.

Hope you guys are making some pips!
  • #545
  • Apr 11, 2016 10:13am Apr 11, 2016 10:13am
that little dip below .7600 just made back my earlier loss. Will look again tomorrow for a trade. Cheers
  • #546
  • Apr 11, 2016 10:33am Apr 11, 2016 10:33am
some volatility may be due to this http://www.forexfactory.com/news.php?do=news&id=586271
Hope for the best, prepare for the worst.
  • #547
  • Apr 11, 2016 8:46pm Apr 11, 2016 8:46pm
Won't be surprised if we go retest .7700 again. I WILL be surprised if price gets below .7500 this week.
  • #548
  • Apr 11, 2016 8:57pm Apr 11, 2016 8:57pm
reading price action alone is not enough, that's why you got it wrong champ
  • #549
  • Apr 11, 2016 9:10pm Apr 11, 2016 9:10pm
Quoting Pip-Miner
reading price action alone is not enough, that's why you got it wrong champ
Don't recall ever saying that I'm always right sport.
  • #550
  • Apr 11, 2016 9:42pm Apr 11, 2016 9:42pm
Quoting PA is King
Normal ADR on Aussie is around 100pips/day. That would put today's rally near .7630(+/-10pips)...if price makes it up there and stalls I'll try one more short and my target will only be to make back what I lost on the first trade. Some days are just not my day so I have to recognize that, admit it, and mitigate the damage to trade another day. If I take two losses, I'll just stop for the day as well. Hope you guys are making some pips!
yesterday was a good day for a monday made 100 pips. on AU and GU.

Today not so much got s/o twice (just in the green though) atm got a short on au at .76200 and a long on GA at 1.8688.

looking to move stops in the green.

lets see what happens
20 Pips a day keeps centerlink away
  • #551
  • Apr 11, 2016 9:44pm Apr 11, 2016 9:44pm
Quoting PaulDaemon
{quote} yesterday was a good day for a monday made 100 pips. on AU and GU. Today not so much got s/o twice (just in the green though) atm got a short on au at .76200 and a long on GA at 1.8688. looking to move stops in the green. lets see what happens
Not sure if i like my chances on these trades though.
20 Pips a day keeps centerlink away
  • #552
  • Apr 11, 2016 10:00pm Apr 11, 2016 10:00pm
stops in the green hopefully can get a bit of a run down looking for 20 pips.

got s/o on GA (in the green)
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20 Pips a day keeps centerlink away
  • #553
  • Apr 11, 2016 10:50pm Apr 11, 2016 10:50pm
Quoting PaulDaemon
{quote} yesterday was a good day for a monday made 100 pips. on AU and GU. Today not so much got s/o twice (just in the green though) atm got a short on au at .76200 and a long on GA at 1.8688. looking to move stops in the green. lets see what happens

So what happened to your 0.7020 AU short? You closed it for -600 pips or still holding?
  • #554
  • Apr 11, 2016 11:00pm Apr 11, 2016 11:00pm
Quoting 10cents
{quote} So what happened to your 0.7020 AU short? You closed it for -600 pips or still holding?
Thats on my other account still holding.

atm that account is running at a 25% DD and havent been trading it. but has made 47% this year

When the time is right and if price dont change will put a big trade on gbp/nzd or gpb/aud and clear it.

got s/o again today will wait now for london and ny session.

This account is running at a 9% DD and has made 73% this year
20 Pips a day keeps centerlink away
  • #555
  • Apr 11, 2016 11:13pm Apr 11, 2016 11:13pm
Quoting PaulDaemon
{quote} Thats on my other account still holding. atm that account is running at a 25% DD and havent been trading it. but has made 47% this year When the time is right and if price dont change will put a big trade on gbp/nzd or gpb/aud and clear it. got s/o again today will wait now for london and ny session. This account is running at a 9% DD and has made 73% this year

How did you make 73% or 47% this year when you have been shorting AU at 0.7020 and 0.7033 since February? You also said you shorted at 0.7490..... i haven't seen you post a single long or even mid term profitable trade.

All trades written in your post and if you haven't closed those trades, it is well over 1000 pips drawdown.
  • #556
  • Apr 11, 2016 11:14pm Apr 11, 2016 11:14pm
Its was actually at .70338

My guess price will peak at .76687 today. but will be looking for a reversal setup at london open.

Forgot today have to take my daughter to netball and got parent teacher interviews so will have to wait for ny
20 Pips a day keeps centerlink away
  • #557
  • Apr 11, 2016 11:31pm Apr 11, 2016 11:31pm
Quoting 10cents
{quote} How did you make 73% or 47% this year when you have been shorting AU at 0.7020 and 0.7033 since February? You also said you shorted at 0.7490..... i haven't seen you post a single long or even mid term profitable trade. All trades written in your post and if you haven't closed those trades, it is well over 1000 pips drawdown.
Just because you are running a negative DD doesnt mean you cant place any other trades.

Although its harder because I must use tight stops whilst running a negative DD and move stops into the green as soon as possible if I get a trade that takes off I end up making up to 10% on that trade.

I also trade nzd and gbp

over This year I have made about 200 pips clear on nzd. Right now no trade on nzd. On the charts it looks kind of bullish so I am waiting for it to top out again then will place another short.

I use good MM.

Lets say for 100k balance most traders I know will trade 10 lots but must have tight stops. They might get stopped out 10 times before i trade takes off.

For me i will use keep my sizes under 5 lots typically around 2 or 3 lots and trade in line with fundamentals.

So instead of taking a series of losses waiting for that big one I normally make a shit load of consistent small wins.

I let those trades run on because like alot of aud traders didnt expect this bull run. Learnt alot from it though.

On a smaller account say 1k I start with .02 lots. I have a system on the gbp/usd that I trade with .1 lots and sl is tight I generally make around 20% per month just on this system.
20 Pips a day keeps centerlink away
  • #558
  • Apr 11, 2016 11:47pm Apr 11, 2016 11:47pm
I honestly don't know where you get the mentioned 43% gain this year from when you are down over 1000 pips on just 2 trades alone since february.

Anyone who calls that good MM must be mad.
  • #559
  • Apr 12, 2016 12:15am Apr 12, 2016 12:15am
Quoting 10cents
I honestly don't know where you get the mentioned 43% gain this year from when you are down over 1000 pips on just 2 trades alone since february. Anyone who calls that good MM must be mad.
Will post this in but not the other account. If I close out all positions now I will have a 50% gain in 4 weeks.

Wont post anything again. Can believe it or not I don't really care.

Attached Image (click to enlarge)
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20 Pips a day keeps centerlink away
  • #560
  • Apr 12, 2016 12:31am Apr 12, 2016 12:31am
Quoting PaulDaemon
{quote} Will post this in but not the other account. If I close out all positions now I will have a 50% gain in 4 weeks. Wont post anything again. Can believe it or not I don't really care.

This is obviously a different account without your blown up trades of -1000 pips. Why post a different account?
Anyway it is your choice to post so i rest my case.
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