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tradingwizzard

Live Trading the Currency Markets

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September updated.......+426 pips booked so far....only one in bad shape is cadchf but even if SL will be hit it will still be a positive month......coming after +400 in July also.....I would say it is not bad judging by my standards

 

BTW wats ur lot size for those pips, if its a big lot size then it God-damn big money...

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BTW wats ur lot size for those pips, if its a big lot size then it God-damn big money...

 

:)......big enough to make me happy.......the important thing is to be on the right side of the market and it shows Elliott (as this is what I use mostly) still has a thing of two in trading....:)....let's see what October brings......

 

a short forecasting if allowed:

 

eurusd to break previous 1.31710 highs

gbpusd to reach at least 1.6430 level

eurcad to move above 1.40 in a big way and target 1.48

 

:)........let's see what market makes out of those above in October;);)

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Your last two months (since I started visiting TL again anyhow) have been superb by anyone's pip standards I am sure. Results wise, I always find looking at raw pip values doesn't really say that much in terms of ones trading approach or their ability to manage to risk within an approach. Would you consider future summaries to be posted as an R multiple?

 

With kind regards,

MK

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Your last two months (since I started visiting TL again anyhow) have been superb by anyone's pip standards I am sure. Results wise, I always find looking at raw pip values doesn't really say that much in terms of ones trading approach or their ability to manage to risk within an approach. Would you consider future summaries to be posted as an R multiple?

 

With kind regards,

MK

 

hi there,

 

I'm not quite sure I understand the question here......you talk about rr ratio or?

 

TW

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Essentially, yes.

 

You risk 100p and make 80p the R multiple is 0.8

risk 100p and make 160p, the R multiple is 1.6

 

Puts ones results in perspective relative to their risk.

 

With kind regards,

MK

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Essentially, yes.

 

You risk 100p and make 80p the R multiple is 0.8

risk 100p and make 160p, the R multiple is 1.6

 

Puts ones results in perspective relative to their risk.

 

With kind regards,

MK

 

I agree with you there but there's a catch...I never enter a trade without having a positive rr ratio, but currency markets are volatile and depending on what is happening (for example now with the Italian government, etc), I may decide to exit trades earlier than expected....and so the rr ratio is compromised....is that wrong?

 

TW

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No not wrong at all because there is no right :)

 

You seem to have a high win rate and usually that goes hand in hand with a lower average R multiple. Nothing wrong with it. We enter trades with a possible vision for the future and often adapt as we get new information - nothing wrong with it at all. I guess I just like to see gains in perspective to what was at risk. Sorry for the extra noise in your thread.

 

With kind regards,

MK

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No not wrong at all because there is no right :)

 

You seem to have a high win rate and usually that goes hand in hand with a lower average R multiple. Nothing wrong with it. We enter trades with a possible vision for the future and often adapt as we get new information - nothing wrong with it at all. I guess I just like to see gains in perspective to what was at risk. Sorry for the extra noise in your thread.

 

With kind regards,

MK

 

no, no....Iike the noise.....:)

 

TW

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Trade nr. 3 Going SHORT EURSD here in 1.3565 for 1.3428 tp sl 1.3610

 

coming back shortly with the explanation

 

well, just to simply explain this one is that lack of follow through at 1.3560/80 area coupled with ECB to come earlier this week (Draghi lately tried to talk down the euro on any single occasion he had) implies weakness for the pairt in the short term....1.34 area eyed

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Trade nr. 2 Going SHORT EURJPY here in 132.84 for 131.00 tp and sl 134.32

 

head and shoulders on the 4h chart......will post the chart in a bit

 

well, I can't resist a quick scalp when markets are moving fast in my direction and just closing the short here in 132.41 for a nice +43 pips profit :) welcome to October

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Trade nr. 3 Going SHORT EURSD here in 1.3565 for 1.3428 tp sl 1.3610

 

coming back shortly with the explanation

 

covering the short here in 1.3522 for a nive 43 pips profit......ECB day today and Draghi speaks, so taking things out of the trading table on this pair

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Trade nr. 8 Going LONG EURUSD here in 1.3624 for 1.3710 sl 1.35

 

fundamental based trade, new highs to be challanged in 1.3710 area and this is Friday, not NFP today it seems, so chances are we squeeze shorts till they go crazy:cool:

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Trade nr. 7 Going LONG GBPUSD here in 1.6211 for 1.6265 tp sl 1.61

 

no rr ratio here as this one is supposed to be more like a scalp based on the future to be released ISM non-manufacturing.....let's see how it plays out

 

stoped out on cable......oh well

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The EUR/USD remained in short range on Thursday where investors couldn’t figure out a clear trend due to the mixed nature of the economic indicators released yesterday. The services PMI of Italy and Spain both were mixed while later on the unemployment claims in the U.S increased lesser than expected but the non-manufacturing PMI couldn’t beat the forecasted figure.

 

However, it fell down by more than 60 points on Friday and managed to close in a bearish zone.... sellers are getting active on the pair....

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