What made those fairly large SPIKES today at 0530GMT Asian Sessions?

One day...perhaps/maybe/will consider/etc...I might let you see my main trading account and then, perhaps, you will understand why setting SL is not beneficial to my account at all.

In a nutshell, why loss 5-30% of capital by SL being triggered when I can wait it out (usually doesn't take long) and come out ahead by 0.1-??% in profits?
And over a period of time, even 0.1% do add up to beat bank interest by a light year :p
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Lately I have been buried up way past my eyeballs in new project works and have to heavily rely on TP being triggered to add profits to my trading accounts.
And I have absolutely no idea direction of currencies and simply placed short positions on ANY pairs that's way up there as shown in H4 and higher time frame charts. But...very happy to say....quite a numbers of my trades TP have been triggered and those that were not triggered are ALL in profits which I closed out pronto ;)

I supposed that's not the best way to trade, but.......!!!!!

Any "hot tips" on which pairs to trade (preferable on "short") would be most welcome! (sort of like placing bets at the race tracks;))
 
Holding through a 30% loss so that it will come back and make less than 1% profit will give you a high winning percentage, but sooner or later you'll find yourself on the wrong side of a big trend and that 30% will grow to 50% and keep growing until you get that dreaded call from Mr. Margin.

Any "hot tips" on which pairs to trade (preferable on "short") would be most welcome! (sort of like placing bets at the race tracks;))

Shorting any pair beginning with USD sounds like a good idea to me. :D
 
The trick to avoid Mr. Margin is, first, have large equity, and enter not more than 3 trades and ONLY on "shorts" on pairs that are way up there so it would not spike too high up.

I have already shorted two trades on AsstModerator's AUD/CAD as it is quite high up and looks good for "short" trades.

Shorting pairs starting with "USD" doesn't look too promising to me right now....too low level on all monthly charts, plus I don't trust the USD, nor the EUR, these days.
The exotic pair NZD/ZAR looks good for shorts too...and it pays good swap rates too:p
 
Looks like some of those Aussie pairs are gaping up at the weekly open. If AsstMod is still in, his AUDCAD just got a nice boost and my AUDUSD carry trades are looking happier and happier.

Looks like I need a better bucketshop if I want to carry trade with exotics.
 
Seems to be strong resistance at the 1.081 level for the AUD/USD....and AsstMod AUD/CAD pair is losing power too.
EUR/USD also ran up half heartedly in Asian session and seems to have lost steam at the 1.323 levels and is rolling back down hill.

I think I will hold my short positions until the European market opens and see what directions they going to take....seems like the whole forex world think Greece is the only member in the EZ.

I threw in the short trade on exotic NZD/ZARM over the weekend for the high swap rates...but the pair have to be pretty high up there in the first place for better chances of making additional profits from positive trades on the following week.
 
Looks like my trailing stops on the AUDUSD will be taking a rest for a few days. In the meantime, the swap continues to accumulate.

You should try shorting the NZDZAR before triple rollover on Wednesday. :)
 
Both the AUD/USD & AUD/CAD are rolling down hill.....fast!....and I would assume AsstMod position either got triggered or his trailing stop is still working hard trailing just behind the roll.


Yes, thank you for the reminder of triple swap on Wed....but my short on that NZD/ZAR over the week end is still there coz I went in at 6.42671 and has not been able to get out just yet. However, it's a relatively small 0.1 lot position and is gaining some swap (usd4.52) on that and after Wed, I will decide whether to get out or let the swap accumulate whereby the swap gained might exceed the small loss of around usd25.77 as at time of posting.

I have been shorting the EUR/USD & AUD/USD all through the Asian session....will see how market develops before deciding whether to wait for the European market before closing out positions or to close them now while they are in profits....hmmm, maybe I should apply trailing stops to theses positions just to be on the safe side!

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What the hell happened to make the spike of the EUR/USD and AUD/USD just moments ago?????????????
 
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Damn. My highest position on the AUDUSD is a little in loss now. That's ok. The other positions are still in profit and if it all goes to SL, I'll still come out ahead.

Personally, I'm a big fan of trailing stops.
 
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