FX:AUDUSD   Australian Dollar / U.S. Dollar
146 21 3
Never catch a falling knife - unless it reached the bottom. It looks like if we see the latter case here now.
we need a higher low to confirm
+1 Reply
I still maintain a bearish bias, but I agree this correction may continue almost up to 0.825.
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jangseohee ForceFollower
which is decent enough profit :-)
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motleifaul ForceFollower
I agree with you. I don't exclude the continuation of the downward trend as well. That's why I keep this position tiny and of course not without a stop. But I want to be in the number if the trend begins to change. Thus I risk a bit loss which won't hurt me.
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motleifaul ForceFollower
You were right this time. I've been stopped out.
+1 Reply
jangseohee motleifaul
One big advantage of jumping the gun is you get big profit if you are right and minimize your losses
since i do not day trade, once price at at the edge of channel, i will average my long/short and hold them until i am wrong
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motleifaul jangseohee
It is a good strategy as well, I think. Thus you combine a trend following srtrategy with a contrarian one.
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jangseohee motleifaul
sort of my contrarian only comes into play after prolong uptrend or downtrend
or my emotional indicator sets in
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jangseohee motleifaul
example:
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ForceFollower motleifaul
Thanks. :-) Anyway, right or wrong, it's all about following a strategy that proves to be profitable at the end of each month...
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