Australia's largest stock trading and investment forum Australia's #1 stock forum

CAD

Click for more information

0.00%

1.3595 canadian dollar

AUDCAD, page-20

First 20 Last

Share
Profile

Follow
specgoldbug

12,874 Posts.

370

12/04/17

23:36

Post #: 24043764
Share

Originally posted by Trae ↑

I get it wrong every day SPG
I've heard rumours that some people do well on the FX short terms - just doesn't work for me. To the cliché, for me short term plays seem like 'picking up pennies in front of a steamroller'.

Important thing for me is knowing when to bet, when to cut when to hedge and when to collapse (sounds like a country western song )
Trading a short TF just puts me on edge and tends to lead me to making bad (hasty) decisions.
Larger TF's with smaller position size allows me to hold overnights.
What’s not shown on my open book above is that I profited off each major retrace (and got chopped about 4 x w minimal loss) along the way with close to or zero risk using a monkey bar strategy.
Place a core and ride it, when it hits a turning point, hedge up (if high conviction go 100% hedge). When the hedge appears to be fully extended collapse the hedge and if the price at collapse is far enough away from the initial position opening price add to the core position.
Each time you profit off the retrace and wind up with a larger core. Each new core is de-risked by the profit made off the hedge. Hope this makes sense

Expand

EUR/YEN trigger pulled way too early yest tight stop.....close now?

Price at posting: 1.3318 Sentiment: None Disclosure: Not Held
Upvote

0 Great analysis

Reply

Top Stories

HotCopper Highlights: Your most watched stocks for Week 47, 2024

GRL

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

LPE

Sales growth pushes Lovisa's fortunes (and shares) upwards

Week 47 Wrap: HotCopper users' most watched; Brent lifts on Putin's scary letter; RFK dents CSL

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

SIG

Dale Gillham's weekly wrap: Sigma-Chemist Warehouse merger creates pharma powerhouse

DUI

Panic, paranoia, and gangland politics: HotCopper users react to Dubber's missing $26M

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

PYC

Scientific conference spotlights PYC's work on blindness disease treatment

There are more pages in this discussion • 83 more messages in this thread...

First 20 Last

Add CAD (FOREX) to my watchlist

(20min delay)
Last 1.3595		Change 0.000(0.00%)		Mkt cap ! n/a

Open	High	Low	Value	Volume
1.3595	0.0000	0.0000	$0	0

CAD (FOREX) Chart