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Well I'm currently -79 pips for the month so far and 43% on trades. As a scalper, that's 30 trades with 13 wins and 17 losses. That AU fiasco has burned me. I'll recover though. No worries. Since 30 trades is a lot for 4 days, Oanda is loving me. Lol
Oh, I know pennies. I've been on the board for a few years now and I've always known you to be early to the party. Lol. When you jump in, normally I try to wait 100 pips or 2. Haha
Hey Rob... I'm with you on that one. I've been wishing that for years now. That's why I favor scalping. I just can't stand to see 50 pips on the table then watch it come back to nothing...maybe less. These pips are tough enough to get so I'm keeping them Lol.
I agree that it is a rich man's game so to speak. They're called the institutions or banks. They set the rates and move the market more than any of us can. We will never out trade them. We can only follow along and take bits and pieces along the way. That's why I scalp.
SG mentioned yesterday that he agreed with the wave count that's posted and in fairness those guys are often right than wrong. I think the difference is they can withstand a sizeable move against them than we can. Even if you are wrong on a trade and it moves 500 pips against us, if we traded the smallest position possible at .01 or 1000 units that would only be $50. Not much in the grand scheme
Lol that's funny Pennies we all stick to our stories. I don't doubt your knowledge and experience. That's why I'm here. I gotta work on my timing tho. I can't take this big of a ride
I'm not under water quan but I don't like taking a hit like that. We've been trying to short AU since around the 24th of Feb at 7100. Yeah it'll drop eventually, it always does. It's jus a matter of when. At some point we gotta cut our losses lick our wounds and move on.
Yeah its gonna have to tank 300 pips to even get back to break even from this leg depending on where one has gotten in. I was on the wrong side of the trade plain and simple.
OK I've cut the AU short loose....again. Another 50+ pips between 3 positions. I've lost way to much trying to short this thing. It only retraces enough to reset the indicators then it pushes higher. The next major resistance isn't until 7600 and a minor one between 7475 and 7500. I'm certainly not holding that long. Good luck guys I'm moving to another pair.
We should be fine but anything can happen. We small account people just can't walk away and leave it. We gotta keep an eye on our money. Lol
That's usually my luck quan. I leave 50 pips on the table just to make 20. Profit is profit but letting it run is a hard thing to learn for me.
I'm banking on it Pennies. This last push up looks parabolic. Hopefully it's done...soon
Haha. Maybe a round number turns it around who knows. This is where indicators don't mean much. If the market has a specific price in mind then it's going there. We jus don't know what that price is.
Kirby after this thing continues to defy logic I may be off to work as well. I added a second short and it pushed up another 30 pips. If the game is to trap longs it's failing miserably.
A lot of long "wicks" forming in this area. I'm thinking this is about it for AU finally.
Well there "was" a nice reversal candle...just before the 30 pip spike at the end of the hr.
Oh yeah. Have fun
That spike created a nice big reversal candle on the 1 hr.
Yeah they've suckered me quite a few times. I'm actually adding an AU short now.
It's cool pennies. That news popped it like 20 pips from where I entered. Not confident in it going much higher.
And AU goes up still.....figures. Glad I went in light
Good luck Kirby. It's gotta tank eventually lol
Back in short AU @.7384 for one last run. Small position though so we'll see how it goes
Looks like AJ has completed that 200 pip move.
Looks like EU head faked me out of my long position. Man, I gotta learn to hold on
Took the initial 30 pips on the EU long. Looking for a retest of support.
Long EU for a bit on a counter trend trade @ 1.0875 TP around 1.0940
Guess I missed the boat on that projection. 40 pips away from the target.
"AJ appears to have broken topside of a 2 point range ( about 200 pips ). Waiting on the retest of resistance now support and I'm going long."
Disregard the AU short. It's got a few more pips out of me...again. I'm gonna need to see a big bearish candle before considering shorting this thing again. Until then it's a long position. In fact, I'm going long just for the sake of it. Maybe it'll tank then and help you guys out. Lol
Back in short AU @.7310 We'll see what happens this time.
Sounds good pennies
It's all good Pennies. I've taken about 60 pips already when it started dying. I'm flat at the moment expecting a retrace
Long GJ @ 159.25 no major resistance to 165
I don't even need that much. Lol. I did close out the AJ long for 7 pips. I'm not afraid to admit when I'm wrong
Nobody's perfect Pennies. We can't be right all the time. It sounds good though if we were.
Now I remember why I didn't look at the weekly....I'm on the mobile and it doesn't have a weekly chart. Haha. Thanks Pennies
Lol no worries Pennies. I never hold that long anyways. I'm lucky to be in a position more than a day. Trust me I appreciate you keeping me out of risky trades. I didn't even look at the weekly. Guess I should have
AJ appears to have broken topside of a 2 point range ( about 200 pips ). Waiting on the retest of resistance now support and I'm going long.
OK have fun.