Best Thread Live Trading and General Chat Lounge
- Thread starter Lord Flasheart
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Lord Flasheart
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put it back,i missed it
justtrader
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Morning all,
Back from holiday
need to make back all the money wife gave away to the french.
usd/cad is near a monthly support point and all the stochs look good for a buy.
buying @ 9934
stop 30 points
Back from holiday
need to make back all the money wife gave away to the french.
usd/cad is near a monthly support point and all the stochs look good for a buy.
buying @ 9934
stop 30 points
sweatyslouch
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I' gotta say the usd/cad has been truly testing my patience recently. Having said that I too am long at 9940. Stop at 9910. Target 10030.
Lord Flasheart
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well were all in similar directions,we can all triumph together
sweatyslouch
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The markets operate to cause the most pain to largest amount of participants...I should probably just get short after your last statement flash!
justtrader
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Not a live trade so apologies in advance
Dollar index is rising so effectively we are buying US strength.
Dollar index is rising so effectively we are buying US strength.
be-positive
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put it back,i missed it[/QUOTE
:cheesy: bloody hell that was a short hol., (tight A--esays it all
forex-refuge
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You are right but let me explain one fact about fx trading:
Random price movement: This is the most complicated aspect in fx trading and this is the reason many traders claim that brokers hunt their stop.
Whether you are gunning for 100pips oe 10pips, you need to place your stop loss above safe supp/res levels because tight stop loss is usually hit and you will end up giving away precious dollars to intermittent spikes associated with price action.
So when i place such stop loss, i don't ever wait for that level to get tested but i exit sooner as long as i see a clear sign of trend change.
Have you ever seen a case where you place a sell and price suddenly moves 50pips against you just to get you stopped out then later reverse and move your way?
I understand my supp/res levels so well so in fx trading just follow your trading rules and as long as it works for you. cool. This is a strategy i have been testing for sometime now and so far so good.
https://www.myfxbook.com/portfolio/30pips-hacker/349461
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sweatyslouch
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Totally agree it whatever works for you.
Lord Flasheart
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will stay with aussie trade as it is
forex-refuge
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First we need to understand the trend for the day because most times, the news drive price action in the trend direction. For euro, i still see price moving lower to supp 12251/12211.
But the best approach to news release in my opinion to wait 1min after it is released to ascertain the possible direction and make good pips from the surge.
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jungles
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Lord Flasheart
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Thanks for joining the thread. You seem to be very experienced in your views for a new poster. Would you like to tell us about yourself. Are you a trading mentor or is all your advice given freely,thanks and good luck
Lord Flasheart
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unlucky and thanks for the honesty.
D.Gilberto
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AUCAD: looking to get short.
1.0498 area.
Will call if I do.
1.0498 area.
Will call if I do.
Lord Flasheart
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still in aussie trade barely moved
