Euraud
Let's try this again.
Sold at 1.8600
Stop at 1.8657
1st target 1.8510
2nd target open (maybe the pair will get to 1.8200 again, or lower)
Let's try this again.
Sold at 1.8600
Stop at 1.8657
1st target 1.8510
2nd target open (maybe the pair will get to 1.8200 again, or lower)
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Euraud
Lightened up some down here and moved the stoploss to 1.8580 to protect the profit, looks like it will go some more though.......
Lightened up some down here and moved the stoploss to 1.8580 to protect the profit, looks like it will go some more though.......
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viclondon
Active member
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Just found this thread and find it exremely interesting.
Thanks for sharing your trades.
Would you explain a bit of your strategy?
Currently I have two pending orders...
The first is on the AUD/USD - if it trades lower than 0.7227 I will sell this pair, with the stoploss up at 0.7388
The other pending trade will be on the EUR/AUD, if it trades higher than 1.8346 I will buy with the stoploss down at 1.7972.
Both of these trades have great potential to go very far, so this is exciting.
Happy Trading!
The first is on the AUD/USD - if it trades lower than 0.7227 I will sell this pair, with the stoploss up at 0.7388
The other pending trade will be on the EUR/AUD, if it trades higher than 1.8346 I will buy with the stoploss down at 1.7972.
Both of these trades have great potential to go very far, so this is exciting.
Happy Trading!
Hi VicLondon
The trades are basically horizontal support and resistance trades. I wait for price to hit (long-term, 4hr, daily or weekly) support/resistance zones as I "see" them, show signs of reversing (weakness for sell trades off of resistance, strength for buy trades off of support) and then I enter. If price comes back to test the support/resistance zone I may or may not be stopped out and if it forms another good candle or two I may try again, like the recent EUR/AUD trade.
Hope this helps, you can message me for any more info
Hi Jake,
Just been reading the thread with great interest, like the way you trade, almost set and forget and relatively stress free!
Could you please advise what timescale you use when posting your charts? I notice that you used a 4hour chart on one of your posts, is this true of all the charts you post?
Keep up the good work, hope this cable trade works out. I notice you managed not to get stopped out (just!)...
Cheers,
Vno
Just been reading the thread with great interest, like the way you trade, almost set and forget and relatively stress free!
Could you please advise what timescale you use when posting your charts? I notice that you used a 4hour chart on one of your posts, is this true of all the charts you post?
Keep up the good work, hope this cable trade works out. I notice you managed not to get stopped out (just!)...
Cheers,
Vno
Thanks Vno for the kind words.
That GBPUSD trade was obviously stopped out. On the 1hr chart you can see it bounced really hard off of the 60 level, so it went 80 pips and then reversed hard. I actually exited 1/2 of the position at basically plus a few pips when I saw that, then the rest was stopped out. I don't do that unless I am watching, of course, and this one just looked bad with that huge bounce.
Happy Trading!
That's wrong - stop at 1.0780
USDCAD trade still on...
The reason I put the stop under the recent low (or above the recent high) is in case we see it double bottom (or double top), it appears as though this happened with the USDCAD here, we shall see.....
The reason I put the stop under the recent low (or above the recent high) is in case we see it double bottom (or double top), it appears as though this happened with the USDCAD here, we shall see.....
Attachments
exited this trade
Dropped this trade. It went 20 pips in the expected direction and then reversed quickly. Loss of -13 pips
Dropped this trade. It went 20 pips in the expected direction and then reversed quickly. Loss of -13 pips
Nice trading Jake. I liked the look of the udscad trade and took it myself. Great to see that the stop loss was behind those previous lows - kept us in the trade. Now at over 1.1100 and well in the money... Now up +150 points and thinking I may close it out before the momentum runs out. Alternatively, may stick a rolling stop on the trade and see what happens. (SL of 50 points and move it up in steps of 10, would guarantee at least 100 pips).
usdcad trade
Yeah, I am nearly always below the lowest recent low or above the most recent highest high with the stops just in case we see a double top/double bottom..... which obviously happened here.
I like how it is acting up here and will keep 1/2 the position to see if I can get it all the way to 1.1300....... but the trade won't lose, and that is a great thing.
Happy Trading!
Yeah, I am nearly always below the lowest recent low or above the most recent highest high with the stops just in case we see a double top/double bottom..... which obviously happened here.
I like how it is acting up here and will keep 1/2 the position to see if I can get it all the way to 1.1300....... but the trade won't lose, and that is a great thing.
Happy Trading!
