Some Aussi Revenge

3/7/2012

2 Comments

 
About darn time! I'll say that again, ABOUT DARN TIME!. For those of you that have been following me in the live room, you know that as of late I've been involved in some epic battles with the AUDUSD and have lost.  Some of you have even shared that pain with me.  Well today we finally got some revenge. Three 5min chart trades were taken today with the two winners both being on the AUDUSD in total we were able to get 65 pips out of that pair on two consecutive moves and you know what, it felt darn good. Aside from the second position leftover from a trade taken in February we only have two wins for the month so far. Sounds bad, but the account is still up 4%  so I'll throw that win percentage out the door as long as the account stays green.  Anyway great job traders and hopefully we'll have another good day tomorrow. 
2 Comments
Lax
3/7/2012 04:45:16 pm

I bet it feels good to finally get one over aussie!! Here's a question. When you take a swing trade, for example using 4 hr chart, you have not idea how long it will take to play out. Let's say your target is aroung 200/250 pips. Let's say it has taken 2 weeks to maybe hit your target (or stopped out). During this time you cannot use this pair for day trading. How fustrating it must be when you see so many set ups during that 2 weeks which you cannot take, especially when you know these are high probability trades and highly likely you will make good pips. Would it not be better to only take swing trades on pairs you don't normally day trade?

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Akil
3/8/2012 03:36:44 am

I've asked myself that question a lot in the past. Especially when I was working on using a mechanical system for swing/position trading. It may be because I'm a swing trader at heart but i'll always take a swing trader over a day trade any day. I guess I figure that, there will be many more opportunities on the day trading timeframes then on the swing so if I miss a few its not that big of a deal and I'd rather do that then say pass on trades like the EURUSD I took that went for a few hundred pips. Great question though.

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