What's your view/opinion on today's market movements?

[RahmanSL]

Hello RahmanSL
I know you better than that, and despite your stubbornness, you will always have that trader instinct to take that chance if or when it comes, regardless the price, maybe a trip back to the drawing-board for a "money-management" workout more often, during breaks in trading.
Good luck
Liz

Really?...hehehe....I might be reduced to flipping coin soon....heads for "buy" and tails for "sell"

On the serious side, I tend to allow my impulsive nature get the better of my more sensible & logical side which turns out to be detrimental to my trading account.
Through the years, I have noticed that, on new accounts, I do extremely well on the first couple weeks of trading and then get cocky and blow the account before the month is out.
So, as I have already been doing/practicing these past 3 weeks, I will make it a habit to withdraw on weekly basis so that I can never blow and loss all my money in any account.


I know "good money management" is essential, but I also know it's difficult for me to put that into practice cause I cannot resist seeing all those available "free margins" just sitting there without being utilize. It's like they are calling out to me: "We are available. Make use of us to make some trades".

 

[ilearn2t]

Hello RahmanSL

Sitting around waiting for the markets to move up or down in a favorable motion can be somewhat boring at times, I spend a lot of this time on forums like this or watching a good sports game, sometimes I miss the proper time to place my order, so I wait it out again.

That way I can control the eagerness to simply trade all the time.

I suppose if I managed my "money management" a bit tighter it would speed things up a bit.

As for toss of a coin, I prefer to use my own setup on the graph to indicate a possible movement and judging by my own Trend/Horizontal lines combined with the MA200 & MA50 I looking for a range around 0.9114

My "MM" allows me the comfort of thinking that way. (Kiss of death trading )

Good luck
Liz

 

[RahmanSL]

Nooooo....I don't "sit around waiting for markets to move up or down" cause I have my bread & butter project work to do too and work load is expected to be rather hectic early next month of May 2014 when oil & gas offshore works get underway due to end of monsoon season.

As will be the case, it's all the more reason for me to initiate positive "carry trades" as soon as possible.....i.e open some high yielding positive swap rate trades and leave them to reap daily positive swaps until TP are triggered.....very similar to "lazy man fishing" for catfish in the bayous.....i.e bait hook, tie string to float, throw it into the water, and come back later to collect hooked fish

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Today I will simply close out running AUD/CHF & AUD/JPY trades when and as they go into some profits or reduced losses.....will also open some "long" trades on the dip for hedging purposes.

 

[RahmanSL]

Today I will be doing basically the same as yesterday:

I will simply close out running AUD/CHF & AUD/JPY trades when and as they go into some profits or reduced losses.....will also open some "long" trades on the dip for hedging purposes, and for the positive daily swaps to offset some of the negative ones.

 

[dkami]

I didn't get the pullback I was looking for on gold (see post 155) but never the less I still should get the bullish divergence I'm looking for on D1 even if it's hidden divergence(I still hold entry @ $1287.25 50fib this is W1 trade for me)

I have a short term setup on gold (H1) but with NFP coming out tonight that may trigger this trade it could be to risky for me to share even though the RR will be there it will need strict MM as it could blow a newbie's account

NFP I'm expecting +180k

 

[RahmanSL]

...hmmm...I have absolutely no idea where metals are heading these days as they seems to be heading everywhere but where traders expected them to go....and some expert analyst have been predicting the run up of gold to the 2000 mark, and silver to the 100 mark since 2012 ...and then there is that news of some banks manipulating the price of metals in London. So, I have not traded very much metals for some time now.
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My "small trading account is still very much in the doldrums. Still maintaining those losing positions on AUD/CHF and AUD/JPY waiting for the Aussie dollar to do a beautiful jack-knife dive at the deep end

Next week, if situation still persist and after I have refinance the account, I will take out the sharpest samurai sword and slice these loser suckers off from my trading account to start anew
....then I will enter trades that have fairly high daily positive swaps, preset TP at last 2 years low, close my computer and go start on my new oil & gas project works.......I will leave the trades to run until TP are triggered or until each positions are so loaded with profits that I caved in to the temptation and cash-in

 

[dkami]

...hmmm...I have absolutely no idea where metals are heading these days as they seems to be heading everywhere but where traders expected them to go....and some expert analyst have been predicting the run up of gold to the 2000 mark, and silver to the 100 mark since 2012 ...and then there is that news of some banks manipulating the price of metals in London. So, I have not traded very much metals for some time now.
============================

My "small trading account is still very much in the doldrums. Still maintaining those losing positions on AUD/CHF and AUD/JPY waiting for the Aussie dollar to do a beautiful jack-knife dive at the deep end

Next week, if situation still persist and after I have refinance the account, I will take out the sharpest samurai sword and slice these loser suckers off from my trading account to start anew
....then I will enter trades that have fairly high daily positive swaps, preset TP at last 2 years low, close my computer and go start on my new oil & gas project works.......I will leave the trades to run until TP are triggered or until each positions are so loaded with profits that I caved in to the temptation and cash-in

Well I don't know where markets will go either I just trade what I see and try to take high probable trades with good RR on higher time frames that way if market does go against me 99% of the time I can still get out @ Break even with a little patience

Anyway I just got home and looks like NFP turned out to be good for my open trades and am especially impressed with EA and will get out of 2nd half of my short's @ my D1 support @ 1.4516 which if it hit's that price will give me nearly 1000pips(1.5500 to 1.4516)

Looks like gold is finally starting to retrace on H4 and I mist my H1 entry as I had to go to work but still hold my W1 trade

AUDCHF I will hold to my W1 resistance @ .8596 which I think will be hit in next few weeks

Made a bit of a mistake getting out of my AUDNZD(my 1st post) for a measly 30 odd pips as the dame thing is not far from my 1st TP O well we all make mistakes got to follow my setup and not my gut feeling

 

[RahmanSL]

Looks like you doing well my friend

My "small trading account went into margin call, forced closure of losing positions and left with below AUD10

I have re-finance the account and next week will start on "carry trade" on EUR/SEK...or maybe the EUR/ZAR if it does go back up. Then I will leave trades to run as I will be starting new oil & gas project on 15/Apr
So my trading account will be extremely boring to watch.

 

[RahmanSL]

As mentioned yesterday, I have re-finance....or to be more accurate, partially re-financed my "small trading account.

Today, I opened some very small short positions on EUR/SEK mostly for "carry trades"....however, when price went down, i couldn't resist closing out some profitable positions as the profit represent over 20 days of positive swaps value .....but price went back up and some pending short positions were triggered and so I have almost the same numbers of short positions which I will leave running for daily positive swaps.....unless, of course, price goes down again and the profits represent 20 or more days of positive swap values

Also as mentioned yesterday, "carry trades" can be extremely boring, but if managed well, can be very profitable (over 100% of capital per year) and safe.
Just be very careful not to fall into temptation and over trade due to boredom. It's really all about a very slow and steady process to reach your goal.

 

[RahmanSL]

Nothing new but same old boring "carry trades"....nothing else but waiting...waiting....and then some more waiting....watching the daily positive swaps grow slowly at snail's pace