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

CAD

Click for more information

0.00%

1.3595 canadian dollar

USD cad ...down she goes ...that's my call here

First 23 Last

Share
Profile

Follow
specgoldbug

12,874 Posts.

370

19/04/17

20:31

Post #: 24151473
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

USD cad ...down she goes ...that's my call here

Price at posting: 1.3434 Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

Reply

Top Stories

GRL

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

EDE

NT Gov't delivers environmental approval for Empire Energy's Beetaloo Carpentaria pilot gas play

Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks

ME1

Banshee's historic trenches prove rich in antimony and gold for GDM

HotCopper Highlights: Your most watched stocks for Week 46, 2024

LYN

InhaleRX gains approval for clinical trial to test non-opioid therapy for cancer pain

AUN

Cyclone signs MOU with Vale for development of Iron Bear play

BTH

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

BNL

Blue Star Helium sees approval for five more wells at 'Galactica/Pegasus' project in Colorado

AN1

CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch

There are more pages in this discussion • 80 more messages in this thread...

First 23 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