gap in audusd, page-7

  1. 440 Posts.
    Well done cb25,

    I can't tell you how much it I love to hear of others achieving in forex, especially as it is not a market that a person can lie to people to get ahead, i.e. shares.

    Keep up the good work, let me know how you progress. :)

    Pretend3R,
    As i've discussed with others you need to define your own strategy, look at the long term. Read heaps of charting books and keep up to date with the news...and most importantly, practice practice practice on a demo account before live trading!!!

    Just for your own informaton on my trading last nite, it was a bit of a fight for me, i went against some of my rules to increase the size of my position without taking into account the margin well enough. This was a big mistake for me. It's another rule I need to be more aggresive at to ensure I don't have positions closed out on margin.


    My trades for the nite are as follows:

    Order 1:
    Lots: 1
    Short: .8294
    Close: .8331
    Profit: -37 - closed, bad entry

    Order 2:
    Lots: 1
    Short: .8241
    Close: .8105
    Profit: 136

    Order 3:
    Lots: 1
    Short: .8208
    Close: .8104
    Profit: 104

    Order 4:
    Lots: 2
    Short: .8181
    Close: .8218
    Profit: -37 x 2 = -74 - margin call


    Order 5:
    Lots: 2
    Short: .8172
    Close: .8225
    Profit: -53 x 2 = -106 - margin call

    Order 6:
    Lots: 2
    Short: .8200
    Close: .8103
    Profit: 97 x 2 = 194

    Order 7:
    Lots: 2
    Short: .8171
    Close: .8255
    Profit: -84 x 2 = -168 - stop loss


    Total:
    LotsTraded: 11
    Lost pips: -385
    Won pips: 434
    Profit: 49 pips

    Hyperthetical count due to margin and bad entry:
    - Close at minimal pip count closures, .8105

    Order: 1
    Lots: 1
    Short: .8294
    Close: .8105
    Profit: 189

    Order 4:
    Lots: 2
    Short: .8181
    Close: .8105
    Profit: 76 x 2 = 152

    Order 5
    Lots: 2
    Short: .8172
    Close: .8105
    Profit: 67 x 2 = 134

    Order 7:
    Lots: 2
    Short: .8171
    Close: .8105
    Profit: 66 x 2 = 112

    Total Extra: 587
    Hyperthetical Total: 587 + 434 = 1021
    Difference = 1021 - 49 = -972

    So for all you new traders, you can see how a small rule that was not kept has cost me 972 pips profit...but don't dwell on the negative, I ended the nite with 49 pips profit!
    However, such is life, keep trading, don't make it emotional!

    Keep to your rules!

    Happy pipping!

    Cheers,
    Miike
 
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