Bypassing pending order and shorting GBP/AUD at 1.9355 (instead of 1.9360), 31 pip stop.

Gordon Gekko's real-time Forex trading calls

Alright, so what's left for us American traders before we call it a day? Let's see here, AiG Performance of Construction Index, due at 7:30 PM (New York time). This Australian report could create a few surprises... Some Japanese reports of medium ...

Gordon Gekko's real-time Forex trading calls

Well they are all hitting the bars in Manhattan now, I guess. Personally I am having a Vodka Martini with this no-good Bud Fox, as we speak image I will, have a good night Isingh.

Gordon Gekko's real-time Forex trading calls

Short GBP/AUD at 1.9360 (limit order), 31 pip stop.

Gordon Gekko's real-time Forex trading calls

At what price did you short GBP/AUD? I banked 30 pips because the system is sending warning signals that a very short term counter-move is possible. Also keep in mind that those Asian/Australian traders are going to wake up soon, see the profits ...

Gordon Gekko's real-time Forex trading calls

Yes, that's the money management part. But first the system itself must have a statistical edge, because no money management strategy in the world can turn a losing/unprofitable system into a winning system.

Gordon Gekko's real-time Forex trading calls

Out at 1.9340, 30 pip profit. Will re-short GBP/AUD later...

Gordon Gekko's real-time Forex trading calls

Your stop and target must be determined by your system, not by the risk you are willing to take, even though the size of your stop should remain small at all times (2 to 3% of trading capital in most cases).

Value of Time, Opportunity vs Risk; Exit, PSize all that Jazz

While it is true that preservation of capital and money management are very important, in and of itself limiting risk will never give the trader any edge. Just like setting a risk reward ratio to 3 to 1 (risk 1 unit to make 3) on each trade will ...

Gordon Gekko's real-time Forex trading calls

Reducing stop to 21 pips. Position is slightly profitable (12 pips).

Gordon Gekko's real-time Forex trading calls

+50 pips, moving stop to break-even.

Gordon Gekko's real-time Forex trading calls

You are ok Isingh ?

Gordon Gekko's real-time Forex trading calls

Trade is now live.

Gordon Gekko's real-time Forex trading calls

FOMC Meeting in less than 30 minutes...

Gordon Gekko's real-time Forex trading calls

Short EUR/JPY at 129.70, 42 pip stop.

Gordon Gekko's real-time Forex trading calls

My system These are all seemingly valid bearish patterns/indicators, assuming you backtested them and they are profitable.

Gordon Gekko's real-time Forex trading calls

Short GBP/AUD at 1.9370 (limit order), 41 pip stop.

Gordon Gekko's real-time Forex trading calls

Hi Isingh No, this pending order [Short GBP/AUD at 1.9450 (limit order), 52 pip stop] has been cancelled the same day, like all unfilled pending orders. The GBP/AUD just loves to come a few pips near my limit orders and then move in the right ...

Gordon Gekko's real-time Forex trading calls

Out of this mess, for an additional 9 pip loss (total 31 pip loss).

Gordon Gekko's real-time Forex trading calls

I meant long GBP/NZD at 1.9720, closing position (at a 24 pip loss) and reversing.

Gordon Gekko's real-time Forex trading calls