No particular conviction, though watching price action when it gets around the proper levels. It'll be up then down, or vice-versa. Thing is to make sure we get on the right bus and on time... or at least know when it's time to step down. I don't ...

AUD/USD

Because you're more likely to enjoy it than when not... I have an ideal daily aim of 1% (not pips as I can use differently sized positions) but if that day the market gives me 0,1, it's the same. The goal is mostly to fix a certain limit when ...

Your Daily Pip Goal?

LIFE itself is a zero sum game... though if you're smart enough, you can play around and do many interesting things for a while before the ultimate margin call...

Is trading a zero sum game?

More ramblings... — Don't get me wrong: technical analysis is not per se a magical spell. It's just high end statistics. Probable outcome without any bias, for overall situation might turn around at any moment. It's like carrying an umbrella ...

AUD/USD

Technical analysis is not mere gambling but what has been called "an educated guess"... Every day that passes I am more convinced that price action is mostly computer driven, and fundies provide (or not) the spikes that crank the action to the next ...

AUD/USD

Looks like price is heading to 161.8 extension of last up swing. It is now struggling at 138.2 extension. Should it rise further and confirm this, the following chart indicate my views for a "correction of the correction" on H4: image Should it ...

AUD/USD

Intraday - shorter term — Now on a shorter time span point of view, we could be having a H&S forming on hourly charts. I'll be watching the price action at around 8303 which has been a level of strong consolidation all the last week, and if so ...

AUD/USD

More on short side levels — As the daily trend seems to have finally started going on the down side, I have made a list of all the levels that could be interesting to watch in case of a stronger than usual correction (due to a possible bullish ...

AUD/USD

Views for the next two weeks - SHORT side — Short side was easier to "read". Here are the results (comments on charts). Or one could simply trade the breakout of the weekly "almost" inside bar...

AUD/USD

Views for the next two weeks — Here are some charts with my views of possible price action on this pair for the next two weeks. I will be eyeing those levels for a long setup, haven't yet studied the short side, but might post this later on if ...

AUD/USD

image For as long as you can see the carrot...

AHA moments in your trading career

I don't usually do it, but as I noticed lately the strong inverse correlation between AUDUSD and EURAUD, I set a chart of the three involved pairs (adding also EURUSD). I am not interested in trading EURAUD but it has been a good contrarian ...

using a currency as an indicator for another

AHA Moment today: image Both figuratively and literally (lol).

AHA moments in your trading career

And money is "created" out of?

Is trading a zero sum game?

Also: The R:R will depend on your win/loss ratio as well. You can have a steady growth along the years even with a 1:0,2 RR, if the win/loss ratio is 95/5 (that's about a 1:3,8 RR in the end). Anyway I got tired of the time it wastes in the ...

why is everyone so afraid to average down?

Not at all. How am I "sabotaging" the 1:1 min risk reward rule? Read my previous reply. As soon as you set a stop loss and a risk, you are having a relative negative expectancy which happens to be at least as probable as your positive expectancy (RR ...

why is everyone so afraid to average down?

As pipmutt mentioned before, we can know the risk, and maybe set the projected reward, but the market will have the last word on this in the end. Why limit the upside? Additionally, if you are opening a trade for example on a daily chart, with a 240 ...

why is everyone so afraid to average down?

You ride the trade for as long as the market let's you? If the trend is established, you can " position trade" bu adding subsequent trades "at a shittier price" as someone said . Averaging down can work well when the setup appears on a larger ...

why is everyone so afraid to average down?

I absolutely agree. In fact, R:R depends on how you define each individual trade as to itself INSIDE the planned maximum risk, which has to be clearly delimited with a fixed stop and position sizing relative to it, what I would call "nested ...

why is everyone so afraid to average down?

Here's a discussion on another forum that could shed more lights on this subject. Basically, tighter and more flexible spreads.

Do I have to close trades manually in this scenario?