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My path of becoming a trader


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My path of becoming a trader

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  #61 (permalink)
 kingich 
Zagreb, Croatia, Europe
 
Experience: Beginner
Platform: Dukascopy
Broker: Dukascopy SA
Trading: forex
 
Posts: 110 since Jan 2011
Thanks: 55 given, 71 received

Short EURAUD @ 1.42326, SL 1.43700 (137 pips), TP 1.39700 (263 pips)

Pair is out of 800 top bollinger band. It also totally missed it's weekly pivot. It broke 3rd up trend phase. Exhaustion is possible.

The markets are non-linear, dynamic systems. Chaos analysis has determined that market prices are highly random with a trend component. The amount of the trend component varies from market to market and from time frame to time frame.

Manus J. Donahue III
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  #62 (permalink)
 kingich 
Zagreb, Croatia, Europe
 
Experience: Beginner
Platform: Dukascopy
Broker: Dukascopy SA
Trading: forex
 
Posts: 110 since Jan 2011
Thanks: 55 given, 71 received


kingich View Post
Short EURAUD @ 1.42326, SL 1.43700 (137 pips), TP 1.39700 (263 pips)

Pair is out of 800 top bollinger band. It also totally missed it's weekly pivot. It broke 3rd up trend phase. Exhaustion is possible.


I'm sitting in +160 pips of open profit, and cannot change my orders, move stop loss to BE or close it :-) Have to leave it to trading gods :-)

Good luck to you all,

ivan

The markets are non-linear, dynamic systems. Chaos analysis has determined that market prices are highly random with a trend component. The amount of the trend component varies from market to market and from time frame to time frame.

Manus J. Donahue III
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  #63 (permalink)
 kingich 
Zagreb, Croatia, Europe
 
Experience: Beginner
Platform: Dukascopy
Broker: Dukascopy SA
Trading: forex
 
Posts: 110 since Jan 2011
Thanks: 55 given, 71 received


Debating now if I should close the position or not, I'm targeting some more pips.

Let's see....

The markets are non-linear, dynamic systems. Chaos analysis has determined that market prices are highly random with a trend component. The amount of the trend component varies from market to market and from time frame to time frame.

Manus J. Donahue III
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  #64 (permalink)
 kingich 
Zagreb, Croatia, Europe
 
Experience: Beginner
Platform: Dukascopy
Broker: Dukascopy SA
Trading: forex
 
Posts: 110 since Jan 2011
Thanks: 55 given, 71 received

One of the trades I've mentioned last week, but haven't entered is AUDUSD.

Just for the record I'm posting a chart, clear take profit would have been there. Ok, now I already have one AUD long position, so it doesn't matter! But generally, I'm kind a long aud on all pairs. Think it's a strong economy fundamental, but also technical reasons behind are there.

The markets are non-linear, dynamic systems. Chaos analysis has determined that market prices are highly random with a trend component. The amount of the trend component varies from market to market and from time frame to time frame.

Manus J. Donahue III
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  #65 (permalink)
 kingich 
Zagreb, Croatia, Europe
 
Experience: Beginner
Platform: Dukascopy
Broker: Dukascopy SA
Trading: forex
 
Posts: 110 since Jan 2011
Thanks: 55 given, 71 received


kingich View Post
Short EURAUD @ 1.42326, SL 1.43700 (137 pips), TP 1.39700 (263 pips)

Pair is out of 800 top bollinger band. It also totally missed it's weekly pivot. It broke 3rd up trend phase. Exhaustion is possible.


Exit the trade + 185 pips. Don't like holding it more then 3 days. It's sitting on 100 SMA now.

EURUSD is @ major monthly resistance line. I've taken some shorts @ 1.4230 but haven't posted charts upfront, so that doesn't count here. My thoughts are building the position and running it till 1.30.

The markets are non-linear, dynamic systems. Chaos analysis has determined that market prices are highly random with a trend component. The amount of the trend component varies from market to market and from time frame to time frame.

Manus J. Donahue III
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  #66 (permalink)
 kingich 
Zagreb, Croatia, Europe
 
Experience: Beginner
Platform: Dukascopy
Broker: Dukascopy SA
Trading: forex
 
Posts: 110 since Jan 2011
Thanks: 55 given, 71 received

Hi traders,

Looks like I could squeeze more pips from my EURAUD trade, but thats past now.

My EUR/USD short is going good. Lately, I have been studying harmonics patterns, and I'm seeing a bearish butterfly on the EUR/USD 4h chart. Combined with that monthly resistance downtrend it adds some more certainty for my trade. Only thing that I'm afraid is getting stopped out by a spike.

When it comes to major resistance, there are two types of traders. One take a short position at the resistance point, others have pending buy orders above the resistance, as they want the catch the great momentum on the breakout move. With the price spiking up through the resistance, both traders would be stopped out, and the market will continue it's way....

Wish you lots of pips/ ticks

ivan

The markets are non-linear, dynamic systems. Chaos analysis has determined that market prices are highly random with a trend component. The amount of the trend component varies from market to market and from time frame to time frame.

Manus J. Donahue III
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  #67 (permalink)
 kingich 
Zagreb, Croatia, Europe
 
Experience: Beginner
Platform: Dukascopy
Broker: Dukascopy SA
Trading: forex
 
Posts: 110 since Jan 2011
Thanks: 55 given, 71 received

This week has been lack of my favorite 4h setups.

I'm running short EUR/USD, considering to build my position, so all my resources are into that, so I'm not taking new positions so far.

Good luck,

ivan

The markets are non-linear, dynamic systems. Chaos analysis has determined that market prices are highly random with a trend component. The amount of the trend component varies from market to market and from time frame to time frame.

Manus J. Donahue III
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  #68 (permalink)
 kingich 
Zagreb, Croatia, Europe
 
Experience: Beginner
Platform: Dukascopy
Broker: Dukascopy SA
Trading: forex
 
Posts: 110 since Jan 2011
Thanks: 55 given, 71 received

I'm aware of the fact that everybody at this moment is long EUR/USD, and trying to buy on dips, but I cannot resist myself. I'm short bias.

The markets are non-linear, dynamic systems. Chaos analysis has determined that market prices are highly random with a trend component. The amount of the trend component varies from market to market and from time frame to time frame.

Manus J. Donahue III
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  #69 (permalink)
 kingich 
Zagreb, Croatia, Europe
 
Experience: Beginner
Platform: Dukascopy
Broker: Dukascopy SA
Trading: forex
 
Posts: 110 since Jan 2011
Thanks: 55 given, 71 received

Weeee! Have some time for longer term analysis. Posts comming soon! Enjoy your weekends!

The markets are non-linear, dynamic systems. Chaos analysis has determined that market prices are highly random with a trend component. The amount of the trend component varies from market to market and from time frame to time frame.

Manus J. Donahue III
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  #70 (permalink)
 kingich 
Zagreb, Croatia, Europe
 
Experience: Beginner
Platform: Dukascopy
Broker: Dukascopy SA
Trading: forex
 
Posts: 110 since Jan 2011
Thanks: 55 given, 71 received


These positions I intend to be longer term. Generally, these pairs are the extreme in terms of interest rate differentials, and carry most rollover profits.

I've decided to build a position from small to larger one, trading the extremes where rollover and the price (hopefully) go in my favor.

With AUD/CHF I see some resistance too close to my entry price, so I think my choice is going to be AUD/JPY.

This is purely long term channel trading.

The markets are non-linear, dynamic systems. Chaos analysis has determined that market prices are highly random with a trend component. The amount of the trend component varies from market to market and from time frame to time frame.

Manus J. Donahue III
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