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10.4 A Complete System
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Author:  mrelectron [ Mon Feb 25, 2013 8:48 am ]
Post subject:  Re: 10.4 A Complete System
@TRADESON hopefully its a case of great minds think alike.

I have a XAUUSD trade as well, I'm a newbie and would welcome any comments on this trade, also the way I have posted the trade, should it have any other info on it etc.
20130225-xauusd.gif
Gold is volatile, I will place stop at 240MA

This trade is on a DEMO account and I know nothing about fx trading. I'm just posting these trades in the hope of learning from more experienced traders.

Thanks
Mark
Author:  ross [ Mon Feb 25, 2013 8:59 am ]
Post subject:  Re: 10.4 A Complete System
rebyte2 wrote:Hi All....

Hope other traders seen the AUDNZD as the conditions were met.

cheers...
Doesn't RSI need to be flat on the top?
Author:  websie [ Mon Feb 25, 2013 9:06 am ]
Post subject:  Re: 10.4 A Complete System
ross wrote:
rebyte2 wrote:Hi All....

Hope other traders seen the AUDNZD as the conditions were met.

cheers...
Doesn't RSI need to be flat on the top?
I didn't think it needed all conditions to be met for it to still be tradeable?
Author:  rebyte2 [ Mon Feb 25, 2013 9:08 am ]
Post subject:  Re: 10.4 A Complete System
It was.. if you look back a few candles.

Not all trades are 'perfect text book setups'.
Author:  mjws00 [ Mon Feb 25, 2013 9:16 am ]
Post subject:  Re: 10.4 A Complete System
AUDNZD had topped RSI last week. Bulls couldn't even take it back to overbought on the last run. I set my pending on this thinking it would retrace further. It got tagged. That bottomed out RSI does concern me, I wouldn't have pulled the trigger manually. But I like this trade for the most part, the trend is solid down and if I get a chance to enter again from WMR1 I'll likely do it. Not sure if it will get there. Holdin Tight.

Yes, one condition is enough. Didn't think of it that way.
Author:  rebyte2 [ Mon Feb 25, 2013 9:31 am ]
Post subject:  Re: 10.4 A Complete System
Also eyeing off EURAUD and EURNZD.

I would favour EURNZD as the 240ma has already topped and is now bending down, where EURAUD has not.

I have placed pending shorts on EURNZD as the STO5 has touched the OB zone.

If the price goes up further, then it does not matter.... will re access.
Author:  websie [ Mon Feb 25, 2013 9:33 am ]
Post subject:  Re: 10.4 A Complete System
Ah, I see, from WMR1, I have an order for a little below the WP, there seems to be resistance around there so figured I'd put it below that. Maybe I should put another order where you have yours then or would it be best to cancel the order I have and wait for it to retrace a bit?
Author:  websie [ Mon Feb 25, 2013 9:37 am ]
Post subject:  Re: 10.4 A Complete System
rebyte2 wrote:Also eyeing off EURAUD and EURNZD.

I would favour EURNZD as the 240ma has already topped and is now bending down, where EURAUD has not.

I have placed pending shorts on EURNZD as the STO5 has touched the OB zone.

If the price goes up further, then it does not matter.... will re access.
The thing I don't like about the EURNZD is on the Daily it seems to have started an uptrend. Does this make any difference? Mind you, I'm new to all this forex stuff so am probably totally wrong.
Author:  rebyte2 [ Mon Feb 25, 2013 9:42 am ]
Post subject:  Re: 10.4 A Complete System
Posting a chart of EURNZD

Edit: I never placed a pending short at the WMP S1 as too close to PA.

Will re access as time elapses.
Author:  rebyte2 [ Mon Feb 25, 2013 9:48 am ]
Post subject:  Re: 10.4 A Complete System
Yes..will have small differences, especially if Sunday candle is/ is not included.
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