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Wow, I just barely escaped getting stopped out of AUD/USD by one pip! My stop is up at .8417 now.
LOL, all I ever do in that account is buy and sell one NZD at the beginning of every week to make the required 2 trades. When I'm making a real trade there's too much going on for me to switch over and mess around with the contest.
1/2 position out on AUD/USD for +22 pips.
And as usual I forgot to put this trade in the demo account. I wish we could just do the contest with our live accounts so we wouldn't have to keep switching back and forth...
Moved my stop to b/e on AUD/USD. Looks like it may be losing some steam just below .8425
None for me... liking AUD/USD so far though. Just shy of my first target. Or as Hector sometimes says, "tarjet."
No, I think it's just the London traders coming to work.
Yeah. My order on AUD/USD filled though so for now the EUR/USD is out since I'm already short the USD. Go AUD/USD!!!
Whoa... I may have spoken too soon on the Euro. Here it comes again. Formed a flag in the 30 min TF.
Nice grub too!
(since Susie's probably asleep, I'll chime in...)
There's still a chance that when London opens up that it will recover, but right now it's not looking too great. Night!
I'm aborting the EUR/USD setup...it's no good.
Still have the open order on AUD/USD.
Hector says that he had a trading mentor who was an institutional trader. The dude told him that a lot of institutions use the 30 and the 50 to place large orders. I don't know if it applies to gold though; he never talked about it. I should email him about that...
I'll be bailing on the order if it drops back below .8385. That's where my stop will be if I go in also. First target .8340, for 1/2 out and move stop to b/e. Second target at .8370.
That's the plan.
This AUD/USD setup is starting to look a little pale...
Nice!
I dumped that image because I saved it as a BMP by mistake; over a meg!
Sure! My order isn't filled yet as you can see.
ayyye yi yi.... gulp.
I know. I'm not missing it, I'm consciously not taking the trade because of the risk from the higher TF trend. Now it's not about looking for reasons to take a trade, it's looking for reasons NOT to.
Yeah, before my vaca I did some research that showed that I should be waiting for a break out of the projected high or low. When it does that, there's a 70% chance that it re-enters the range.
Let's see if I can post mine...
I'm not touching that one until it breaks above 1.3915. Your mileage may vary!
Closed GBP/JPY for +8 pips.
I just shorted GBP/JPY for a scalp too.
No no, AUD/USD is much better. No defined downtrend in the higher time frame... good eye you have!!!!
ahhhhhhhhhgggggg!! Good catch, LOL! That one was on my 30-min bar watch list, but I haven't looked at it all night. I just put an order in...for a break above 0.8405
I looked at that earlier during my analysis tonight, but bagged it because the daily chart is moving into a downtrend. The method I'm using now is EXTREMELY conservative...all the ducks have to line up. Be careful of heavy resistance around 97.00!
Yep, I have a couple of setups I'm watching but no signals yet. Think I'll use my scalping tool on GBP/JPY for a while tonight.
That's about the time that Tokyo is winding up and London is in full swing. You're right; that's where the action is.
I'm guessing you mean in the Eastern time zone (GMT-5)?
30, 50 and 100
He uses them differently though. Doesn't look for crossovers, but looks for them to all be parallel, and then for the price to retrace back to between the 30 and 50. The free chapter in his course goes over all that.
If you buy it though, do it through one of the links on my homepage! I'm an affiliate, LOL. I bet you could really get the gist of it by just looking at his blog every day though. I bought it mainly because it made so much sense to me that I wanted to reward the guy.
I like it! I even joined his affiliate program. It's the only course I've ever bought, because most of them seem just like scams or just really basic obvious stuff.
One of the things I like about his videos is that sometimes he'll be going over a trade, and I would be looking at the chart thinking, "but wait a minute, what about blah blah", like why didn't he use a different price level for something or whatever. And the next thing you know, he would be talking about whatever it was that I was thinking about! It's like he doesn't just gloss over things that come up in real trades.
He gets really repetitive sometimes too though, but even that is cool because you can tell he's a real guy, not someone with just a bunch of BS polished videos. He goofs up his charts, gets tounge tied sometimes and every once in a while comes out with some totally funny comment.
Mainly though, his method is all based on a few simple concepts that MAKE SENSE.
I think I see a kid with a sparkler... is that it?? LOL, I don't expect to see much movement until the London session starts.
harrrrrr!!!! Carry trades are the only things I ever made any real money on, but the party's over I think. Anyway, I have the "Hector method" now and I'm ready to rock...
They're having fireworks?? No one tells me anything, LOL.
London won't open for a few hours and the Tokyo session is useless. I'm off for a few to eat lunch and watch a movie...
Howdy night crew!
Two potential trades on my watchlist; long EUR/USD in the shorter term and short JPY/USD on the 3-hour charts.
Looks like the yen is coming back...if there are any carry traders left here (like I used to be), watch out!
not much going on; out for the day.
Trying out my scalping tool now that its up on the site. No signals yet.
Yeah, someone buying up PMs.
I didn't see any comments on here about Abe. It's all over the news that he resigned out of the blue today.