As of late – I feel I’ve gotten a little soft.
Pulling back over the summer months ( knowing ahead of time it was gonna be rocky ) has me a tad complacent, and dare I say a touch out of character. Should impending war, global Central Bank intervention , looming collisions with massive asteroids , or nuclear disaster stand in the way of a seasoned forex trader? No chance.
It’s time to light this candle.
September is upon us and blog traffic has literally tripled in a matter of days. I’ve been over the “reader’s poll” ( and want to thank all of you who’ve contributed!) and understand that a large number of you really want to get down to some of the “real-time trades” and straight up entry/exit stufff – no bones about it.
I need to have a little fun once in a while too, as doing this for a living can really get to you at times. Daily walks on a Caribbean beach, cold beer, swimming with turtles/whale sharks, diving , salsa bars, bone fishing etc……these things can really wear on a guy!
I am placing an order “long EUR/AUD” at 1.43 – as well “short CAD/CHF at 90.00 and fully expect that if anyone else tries this……….you will be taken directly to the cleaners.
I implore you “not to try this”. And don’t even ask me “how / why”.
Summers over. I’m done tapping the brakes.
Let’s get this show on the road.
me .. following long EUR/AUD at 1.43 .. YES and try learn ‘the why’ myself … RISK-OFF win.
This is very, very , very , very dangerous if you are trading too large my friend.
This pair is is unlike any beast you’ve ever tried to wrangle.
Small position….small , small small!!!
Ya i see this as a risk off play and has had a long ass downtrend in play for awhile. Could catch a lot of shorts half steppin. I entered a tiny position. You can always learn more w skin in the game. Thanks Kong. Hope the break was brilliant. Sweet place
Hanging in on the JPY pairs too, as “risk off” is inevitable.
I’m not sure it’s for everyone – but as far as my general trade decisions go…..this far into the game ( I see a “megaphone type formation” in NAZDAX ) as well “fake out” on Nikkei blah , blah , blah , it would be virtually impossible taking a hit “positioning” this way.
As much as I like “banking profits” weekly – I’m not at all concerned if a trade takes longer to pay off. Then finding “new ideas” and letting them take shape as well. It’s more of a “process” for me as opposed to a “specific time and place”.
Isla is beautiful yes…hope you are doin well.
Hi Kong, why do you say “risk off” is inevitable? Everyone has been anticipating a risk off event for so long but it never happen
Yup I’m hanging tight in my jpy trades. A little offside right now but trying to stick with working the trade through longer and building it for better profits rather than just taking profits when they are there. I’ve been pretty good about small adds so I’ve got reasonable cash left over for when the gettin is good so they say.
Liking the EUR/AUD long and I’ve even entered a larger beast, GBP/AUD at 1.6940… If/When the “cleaners” come, I’m buying the Dip on these pairs.
Oh, AUD/JPY short looks good too… AUD is really strong right now and YEN is weak, seems like a nice fade, but curse the daily yield while we wait for the plunge.
May i dare ask you about the Stop Loss?
200 pips – minimum.
Man…. the yen crosses are following last week’s action… this is not looking good..
You may have to hang in there RObert – yes the JPY pairs are indeed pushing against us. I’ll say that I didn’t expect this recent “pop” in risk, and still see the price action on Yen a tad suspect. Practically 10 days straight up in a couple pairs as USD/JPY still won’t cross 100.00
I’m not worried about here, as I would look to do another complete round of selling / add at the first sign of reversal.
Trying to hang in kong. But seeing usdjpy pop 100 and gbpjpy pop 157 with no sign of exhaustion….. is really something
Ullo Kong! How much room do you want to give those pairs? (EURAUD – CADCHF)
Right 200 pips!