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Take a glance at the weekly chart. Candles show the potential for a substantial pullback from current levels. I think this is the first trade i've made based on a weekly chart, so...we'll see I guess.
Lingering trades from last week. I'll maintain these until either the 75 pip trailing stops trip or the TP gets hit.
Too bad no one uses it. lol
Someone is really bored if they are looking at my profile!
Thanks omar! This is great. I have never traded GBP/AUD...but given that it has a massive daily trading range, I might have to jump in the mix. I would use it in this way. GBP/AUD has an average range of about 400 pips. Given that its an average, I would work of the assumption of 200-300 pips and work with 50-100 pip stops and 100-200 pip TP's. These would be trades at strong supports and/or resistances.
I use forex.com with mt4 and have never had problems withdrawing money.
Don't know if anyone responded with this but, it is also of interest that Goldman recently announced that they are selling 5+Billion in stock to raise money for paying back the Govt. I find it interesting that the stock price is moving up very significantly before a 5billion dilution. Things that make you say....hmm.
Looks like your going to get your chance for better prices in eur/jpy and usd/jpy after all.
added to my usd/jpy short on the bounce back to 99.00 support turned resistance area.
lol...interesting market. My reasoning for eur/jpy is because it had already broken substantial support. For usd/jpy, I was anticipating trend-line support being broken, which just happened thankfully.
Added a short usd/jpy and eur/jpy shortly ago. looking weak
I agree with that. Both of my cross/jpy trades are in the plus at the moment. I'll probably close them this evening before bedtime. I would like to buy cross/jpy on a good dip, in which I missed last night.....sigh....i hate sleeping, that's when all the good moves are.
Donde' esta?
I've been working on school. Nothing much more. Doing a little trading here and there to include my current positions which are long usd/jpy, long eur/jpy and long usd/chf. I plan to do some MT4 programming over the next few weeks. Don't know exactly what i'm going to program, but i'll figure it out as I go. lol
I chime out for about 4-5 days and there are 544 messages on the board? wtf?
Ohh! My bad Mayor CaT.
Howdy DoN!
That's the way to trade in my opinion.
I have never traded that pair, but it looks like their entry fell short. Still would have been an awesome short! 300+ pips down today. I have never even looked at a chart for that pair until today. I'm going to have to put that one on my trading list.
Same problem with me. All my substantial gains happen overnight when i'm sleeping. I usually set my positions at about 7p.m. and set the SL and TP. When I wake up, i'm either stopped, or way in profit. Then the daytime comes and I sit watching the platform constantly and I end up with losses. I make notes of all issues that I think negatively and positively affect my trading....i'll be using that list soon to optimize my trading.
That's why I feel its important to set a stop at the time of entering the trade and NOT moving it, unless its trailing. If it gets hit, its time to re-think the trade.
I make very nice gains, my problem is cutting losses. Its too easy to set a stop on a long position, let it stop out and re-enter the long at lower levels if I still feel long is the way to go. I just need to do it and my trading will be fine. Must get rid of the "it'll turn around" mentality and I'll be successful.
Looks like the same thing in aud.
How about letting me know your trades when you make them.
I wouldn't jump to that conclusion...you should see my oanda account. hehe
no. 100,000$ at 400:1=the ability to trade 40,000,000.
My answer is this: I would enter the trade, and immediately it would go against me for 50pips(50,000$)loss. Thats what I expect. I would have the b#%lls to do it, but i'm pretty sure it wouldn't work out.
I'm bleeding pretty bad right now as well.
It amazes me that I can be on fire and win 10 trades in a row. Then turn around and lose trade after trade. Sometimes I think about this, what if I had 100,000$ in a 400:1 account. Could I really make that one 10,000,000 trade that would retire me for the rest of my life(like Soros) or would that be one of my unlucky times where I get wiped out....I have my guess.
I feel your pain. I woke up this morning to almost 75% gain. Since then, i have wiped all of the gains plus about 10%. sigh.
I trade my FXCM account about 2 days a week, its slightly green for the week, however, i'm net red now. I'm short eur/jpy right now, but that trade doesn't look like its going to work out either, I make take a small loss on it soon if no momentum to the downside develops.
I was VERY green on the week...now i'm VERY red. lol
Its my favorite pair, well...except for today. lol My stop was at 70.40, the price tumble to 70.35 and took out my stop, then bounced back to break-even or so. sigh
aud/jpy=funny joke.
I added a short eur/jpy on the bounce.
I don't do the beast anymore...tooo much volatility and spread for me.
5 more pips and its back to the drawing board for me. EDIT: Nevermind...it is back to the drawing board...
I'm trading aud/jpy
stop is at 70.40 so i'm still hangin in there.
thar she goes...beating to hell and back. sigh