Trading -AUD/USD

Quote from tradingjournals:

Trying MINUS EUR/AUD at 1.4315. It could be late. There could be red excursion. There appears to be some resistance 70 pips higher.
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Risky trade if you ask me, it's better to short at the pullback line, if the price goes up there of course. Let's see...
 

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Quote from tradingjournals:

Trying MINUS EUR/AUD at 1.4315. It could be late. There could be red excursion. There appears to be some resistance 70 pips higher.
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EUR/AUD at 1.4296. Closing it.
 
Quote from tradingjournals:

CAD/JPY at 93.80. Looking at the long side.
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There seems to be some support around the 93.80 area but I prefer to wait for confirmation.

What are your target and stop in that particular case?
 
I agree with you. The upside does not look great. I did not look at it extensively. I just looked at the risk, and it did not look bad. I entered at 83 as I thought buyers might be around 10 pips down. I am looking for it to rise a bit, and place a stop within the profits area, or take half
off so that the stop does not cost.
 
Quote from xelite777:

Yes it's nice to ring the cash register but your short EUR/JPY trade has still a lot of potential...
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I agree that holding for big winner is the best option. The entry was sort of late, and the stock market did not sell off. Where do you think it would go to?
 
Quote from tradingjournals:

I agree that holding for big winner is the best option. The entry was sort of late, and the stock market did not sell off. Where do you think it would go to?
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When a trend is in place and the market is going my way in a big way, I simply put a simple moving average (MA) on the chart and if two consecutive bars close completely above that MA (or below for long positions) I exit the position, simple as that.

This is by far the best way to ride a trend. There are of course other ways to exit a winning position but I discovered that a simple moving average works wonder in that case.

In other words I let the market be the boss and I never try to guess how far it will go.

The EUR/JPY could drop another 500 or 1000 pips, we never know.

Surf the trend until it ends, that's my motto :)
 
Quote from tradingjournals:

EUR/USD: Entering long side at 1.3556. Counter trend. Riskier.
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Wow, you've got guts TradingJournals, even James Bond would not dare to buy the EUR/USD at this moment :p

But everything is still possible, and most of the time the market reverses its direction between 2 AM and 5 AM (New York time), so...
 
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