Trading -AUD/USD

Quote from xelite777:

Bought GBP/JPY at 158.60

Let's see now, even 10 pip profit would be good...
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Out at 158.75 (15 pip profit), thank you Mr. GBP/JPY :)

Ok folks, that's it for today, we all did good this week, enjoy your winnings and have a good weekend.
 
Quote from Visaria:

out at 1.33455
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Good for you Visaria, but as you probably already know, if a trader is constantly looking for very small profits (under 10 pips for instance), he won't make it in the long run, unless the percentage of his winning trades is above 70 or 80%.

For example let's take a currency pair with a 3 pip spread.

If the trader is constantly looking for a 10 pip profit with a 10 pip stop, a mere 7 pip move against his position will take his money (7 + 3 = 10 pips).

On the other hand, he needs to make 13 pips to earn that same 10 pips (13 - 3 = 10)!

Imagine a game where I (your broker or a casino) only need to earn $700 to earn your $1,000 bankroll, while you need to earn almost twice as much ($1300) to earn my $1000 bankroll, how long do you think you will last before bankruptcy...
 
Quiet Asian session so far, nothing is moving except the New Zealand dollar and its crosses, GBP/NZD dropped almost 100 pips since the open.
 
Short AUD/JPY at 92.88

On the 1h hour chart, we have two spinning tops candlesticks at resistance level, a very powerful formation indeed.

Let's see now...
 

Attachments

Quote from Visaria:

shorted eurodollar, 1.33534, stop 1.3359, looking for 1.3345
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I went long at 1.3349. +21 pips now. Took a bit off as I will not be watching. Moved stops to sure gain.

I did the opposite of what you posted after I read your posts in other threads.

You also won, so it is a win-win.
 
Currency pairs that I would be checking tomorrow:

short side: USD/CAD, CAD/CHF ; USD/JPY (now at 1.0475, 0.88ish, and 99ish).

Long side: AUD/USD (now at 0.9384).
 
Quote from tradingjournals:

I went long at 1.3349. +21 pips now. Took a bit off as I will not be watching. Moved stops to sure gain.

I did the opposite of what you posted after I read your posts in other threads.

You also won, so it is a win-win.
More...

fantastic! :cool:
 
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