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     lafee
Member
Username: lafee
Post Number: 359
Registered: 04-2003
Rating: N/A
Votes: 0
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| | Tuesday, March 06, 2007 - 10:48 pm: | 
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closed out EURNZD @ 1.9264
Cheers Lafee
If nobody can be certain of anything, how can I be certain of that?
Ayn Rand
When I was young people called me a gambler. As the scale of my operations increased, I became known as a speculator. Now I am called a banker. But I have been doing the same thing all the time.
Ernest Cassel
"My major hobby is teasing people who take themselves & the quality of their knowledge too seriously & those who don’t have the guts to sometimes say: I don’t know...." (You may not be able to change the world but can at least get some entertainment & make a living out of the epistemic arrogance of the human race).
Nassim Nicholas Taleb
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lafee
Member
Username: lafee
Post Number: 360
Registered: 04-2003
Rating: N/A
Votes: 0
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| | Wednesday, March 07, 2007 - 09:05 am: |
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I have gone long the AUDUSD. I will hold it for 1-4 day depending how things play out. price - 7742
Cheers Lafee
If nobody can be certain of anything, how can I be certain of that?
Ayn Rand
When I was young people called me a gambler. As the scale of my operations increased, I became known as a speculator. Now I am called a banker. But I have been doing the same thing all the time.
Ernest Cassel
"My major hobby is teasing people who take themselves & the quality of their knowledge too seriously & those who don’t have the guts to sometimes say: I don’t know...." (You may not be able to change the world but can at least get some entertainment & make a living out of the epistemic arrogance of the human race).
Nassim Nicholas Taleb
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stocky
Member
Username: stocky
Post Number: 46
Registered: 10-2003Rating: N/A
Votes: 0
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| | Wednesday, March 07, 2007 - 03:25 pm: |
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Hi Lafee,
I'm not too sure of how your system operates, but i regularly trade fx and usually use exit target's aswell.
Something i have noticed that you often cut your trade before reaching your target.
Obviously you have your reasons, and i know i use to cut early aswell. You'll find that as FX is driven so much by TA that you will get a higher % Return on your trades if you stick to your original Targets/Stops. Just something i found while trading.
Regards,
Stocky.
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lafee
Member
Username: lafee
Post Number: 362
Registered: 04-2003
Rating: N/A
Votes: 0
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| | Wednesday, March 07, 2007 - 04:20 pm: |
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Stocky,
My targets & Entries are dynamically adjusting to the data all the time. I do precisely what my "system" tells me to do. You just don't know what I am trying to achieve.
I cannot post every change - but I do my best to advance my trading intentions on this thread.
Most TA is a marketing ploy set up by the big bad brokers to ensure they always have a steady flow of new accounts. You see for some reason most of there clients wipe out. No clients = no spreads/comm etc.
Would you begin a trading career without thinking you are going to make money? No right. So wannabe traders look for information about how to do it. They stumble upon a friendly forex broker that is more than happy to show you how to trade. TA is there weapon to start them off. To give the newbies the confidence to have a go. Most of it is easy to learn and appeals so strongly to "common sense" and DOESN'T WORK - for the client that is.
'FOREX IS A TA DRIVEN MARKET' smells of broker propaganda to me and is the reason for my stern reply - nothing personal mate.
Cheers Lafee
If nobody can be certain of anything, how can I be certain of that?
Ayn Rand
When I was young people called me a gambler. As the scale of my operations increased, I became known as a speculator. Now I am called a banker. But I have been doing the same thing all the time.
Ernest Cassel
"My major hobby is teasing people who take themselves & the quality of their knowledge too seriously & those who don’t have the guts to sometimes say: I don’t know...." (You may not be able to change the world but can at least get some entertainment & make a living out of the epistemic arrogance of the human race).
Nassim Nicholas Taleb
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lafee
Member
Username: lafee
Post Number: 364
Registered: 04-2003
Rating: N/A
Votes: 0
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| | Wednesday, March 07, 2007 - 09:19 pm: |
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AUDUSD has been the strongest so far tonight. If we see a little more momentum I might consider selling rallies on the EURAUD. Too early to say yet.
Cheers Lafee
A working class hero is something to be.
John Lennon
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wadda
Member
Username: wadda
Post Number: 437
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Wednesday, March 07, 2007 - 11:16 pm: |
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Lafee,
Went long on AUDJPY at 9071.9. Not doing so well but sort of hovering.
Too slow getting on board with AUDUSD after you prompted earlier...domestics got in the way ('honey it's time for dinner' etc). It certainly is looking good for you.
Cheers,
wadda
"Buy low, sell high is a cliche, not a blueprint for action. It blinds investors to the professionals' approach of buying high and selling higher." Stan Weinstein
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lafee
Member
Username: lafee
Post Number: 365
Registered: 04-2003
Rating: N/A
Votes: 0
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| | Wednesday, March 07, 2007 - 11:32 pm: |
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Wadda,
I think our fates are tied. If the USDJPY breaks down we will both be in trouble. But at the moment everything is ok. I figure the goings on in the equities and forex are pretty correlated ATM. Stock gains tonight will be good for us - if they occur.
Good luck
Lafee
(Message edited by lafee on March 08, 2007)
A working class hero is something to be.
John Lennon
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wadda
Member
Username: wadda
Post Number: 438
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Wednesday, March 07, 2007 - 11:49 pm: |
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Hi Lafee,
still learning but I see what you mean.
Decided to have a crack at the AUDUSD long getting in at 7778.8. Just playing with Mini FOREX contracts through IG Markets to gain some confidence ATM.
Unfortunately, can't stay up all night - got a day job. Therefore I have to set stop losses as I note above you do not.
Have fun and thanks for the tips re FOREX trading as I'd like to go more that way (I think).
Cheers,
wadda
"Buy low, sell high is a cliche, not a blueprint for action. It blinds investors to the professionals' approach of buying high and selling higher." Stan Weinstein
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lafee
Member
Username: lafee
Post Number: 366
Registered: 04-2003
Rating: N/A
Votes: 0
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| | Thursday, March 08, 2007 - 12:12 am: |
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Ignot,
100 on the USDJPY is a looooong way away.
If you loose your objectivity you loose this game.
Anything can always happen.
Happy Birthday for Monday
Cheers Lafee
A working class hero is something to be.
John Lennon
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lafee
Member
Username: lafee
Post Number: 367
Registered: 04-2003
Rating: N/A
Votes: 0
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| | Thursday, March 08, 2007 - 08:06 am: |
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I will hold the AUDUSD long for at least one more day.
The EURNZD has come to life again this morning. Probably will be a trade later in the day but I have to help my brother move so I my not be able to buy it.
I really don't feel like lifting furniture after the two weeks we have had.
Cheers Lafee
A working class hero is something to be.
John Lennon
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stocky
Member
Username: stocky
Post Number: 48
Registered: 10-2003Rating: N/A
Votes: 0
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| | Thursday, March 08, 2007 - 11:10 am: |
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Hi Lafee,
Was just an observation, but thanks for your opinion.
I find scalping takes too much time for little reward. I will usually look for a longer time frame trade with a greater return.
Regards,
Stocky.
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lafee
Member
Username: lafee
Post Number: 368
Registered: 04-2003
Rating: N/A
Votes: 0
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| | Thursday, March 08, 2007 - 05:26 pm: |
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Stocky
Your right about scalping. But its ok to do when the volatility is like we have seen over the past week. Normally I'd average about 1 scalp a week. The reason I have been so active is because of the current state of the market. Under normal conditions I would just make my broker rich.
Cheers Lafee
A working class hero is something to be.
John Lennon
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lafee
Member
Username: lafee
Post Number: 369
Registered: 04-2003
Rating: N/A
Votes: 0
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| | Thursday, March 08, 2007 - 09:52 pm: |
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Wadda,
Are u still long the AUDJPY? It was the more gusty trade (with a higher potential profit) than my boring old AUDUSD. All the Eurpean and US futures are up ATM and the USDJPY has shown some resistance to the carry trade bears.
Lets hope it continues.
Cheers Lafee
A working class hero is something to be.
John Lennon
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wadda
Member
Username: wadda
Post Number: 440
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Thursday, March 08, 2007 - 11:07 pm: |
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Hi Lafee,
I was until about 10 mins ago when I got stopped out at 9098 whilst having a chat to my wife! A slight profit none the less after in at 9071.9.
I also tried to go long on the NZDEUR after you mentioned it and I had a look but Murphy came to play and after waiting about 30mins for trade confirmation at 5179 I phoned IG to complain that the trade hadn't gone through but they only stated I must have had a slow internet connection! Its now 5221.
Still long AUDUSD that's gone nowhere.
Cheers,
wadda
"Buy low, sell high is a cliche, not a blueprint for action. It blinds investors to the professionals' approach of buying high and selling higher." Stan Weinstein
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