Howdy — Hello AUD/NZD thread people. I have been trying to limit my trading to high probability trades, typically using pretty tight TP in volatile but ranging PA. I am intrigued by the possibilities of doing this with AUD/NZD, but of course I ...

Trading aud/nzd successfully

I have not counted but I do know that when I have the PA that I am looking for I might make 15 or more per hour. I do know that I have made over 100 pips per hour on several occasions, but typically I don't count pips, I am just trying to watch the ...

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Thanks F.x., I do of course look at higher tf up to daily. Essentially I probably play my charts just like any typical day-trader might. I calculate pivot points, draw trendlines. I try to watch and understand the movements of related and/or ...

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I am flexible, as I am always trying to get a feel for the PA at hand. 3-pip default TP trades have a default sl of 15 pips, but I might slide that in some. 5-pip TP goes with a 20-pip sl. I do also adjust the default TP, as well, depending on the ...

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I'm not sweatin' the spreads, not on the E/U anyway - just the cost of doing business. Actually, it is pretty easy - I suppose this is why it's so subversive.

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Thank you, Fisherman. I have a default sl on these short trades. It is about 5x larger than the TP, typically. Risk/reward 5:1 - what madness, right? Very unorthodox. Well, I have not had a sl hit yet. Admittedly, I have only placed a few hundred of ...

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Hi F.x., Yes, I think you are right about trading around the S/R levels. I am looking for sideways price action, but with some good volatility, too. I seem to find it around the FO/LO pretty regularly. For instance, if I'm trading on the 1M tf, I ...

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Hey, by gum, that sounds pretty good. Why don't more people trade that way - do you ever wonder? Of course, one does not have to limit oneself to one trade per week. With a small TP and the right PA conditions one can make many trades per day, ...

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OK, let's get serious — How small would one's TP need to be for it to get hit 98.9% of the time in relatively volatile market conditions?

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Ak4x, Why are you so mean? Did a grizzly eat your poodle?

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Dude, I can't believe how small my pips are.

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Yep, good luck with that short Jasper. I'm up a little over 2% on the account in the last 2 hours of scalping. That's enough & I'm off to bed. Good luck all.

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OK. I can recognize the fractal nature of the PA. It's an interesting topic. Lately, though, I have been concentrating on easy, high probability trading. (I am naturally lazy.) So I look for PA that is jumping up and down in a range and place series ...

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Danke, Jasper. Question for you though: do you really believe price levels from 5 months ago exert some power in the mass psychology of trading? My reference bible on TA is JJ Murphy's "Technical Analysis of the Financial Markets" in which somewhere ...

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Actually, I'm in long from .3810 & will hope to add to a long position. But I have been feeling like "I don't know what to do" as opposed "aw, hell, I got this, no problem...." I may be experiencing information overload. I will probly be dumb and ...

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I don't know what to do.

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Get a live or demo account at a futures broker and you can see true real-time volume data on major currencies, stock indices, commodities, etc. Very informative. Volume reported by forex brokers is not true volume.

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gurangax, Don't let the scalp-bashers get you down. Scalping is a viable strategy that is at least as profitable as any other. As far as risk goes, the less time your position is exposed, the less risk you incur. You must learn to trade in the right ...

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I let my tp's all get hit at .3980 and I am up 10% for the last 24 hrs. Break-even on the month in sight. Goin to bed. Sleep deprivation has got to be a common cause of trader break-down & I ain't gonna let it get me. Good luck all.

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Which crisis was that, hard to keep up with em y'know? North Korea saber-rattling? Whatever it is, it ain't enough to keep the live stocks and stock futures down, for now, anyway. Oil inching up, too. I am long from .3942 and holding. I would not ...

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