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Friday 12 March 2010

AUDUSD Trade 3rd March 2010

Sorry folks, I'm a bit late getting this one online; life in general and business in particular kept getting in the way. Anywho, here's an explanation of the the last trade which pulled us a nice 100+ pips.

Please feel free to ask for any clarification you need.

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2 comments:

  1. Thank you for the update. I hope your business is doing well, and hope health and all is well.

    A quick update on my progress. I am still trading with MB Trading on demo. It has been a month (since I restarted with a demo account since MB Trading had swiped their old demo servers clean off) and I have made a little progress. I stayed positive.

    However, I traded a bit off my gut and PSR areas. I am currently trying to write down a trading system that establishes my entry and exit points, and I plan to share my thoughts with you when you feel better situated to try and do the live video chats.


    Please keep me informed of your trading and I do visit the blog and re-watch your videos endlessly.

    Thank you,
    K

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  2. And Pete, you mentioned going long again once price action is above the 0.9168. Assuming the PA consolidates but the daily stays above.

    Is the motive to go long more due to the overall trend momentum being an uptrend?

    One thing I am still trying to establish, is how to decide if the overall trend is going up or down. How many months or weeks does it usually take to establish some type of price momentum to where I feel comfortable to trade with the trend to statistically gain the probability of overall trend continuation in my favor.

    ReplyDelete