Comments on: GBP/AUD update: Still running short strategy

By: Warren

Warren — Fri, 07 Mar 2014 17:01:51 +0000

Wonderful! Thanks, Sean.

By: Sean Lee

Sean Lee — Thu, 06 Mar 2014 23:10:31 +0000

Sorry got it 🙂

By: Sean Lee

Sean Lee — Thu, 06 Mar 2014 23:10:20 +0000

Git it Warren, will reply when I get a few moments.

By: Warren

Warren — Thu, 06 Mar 2014 23:04:37 +0000

Yes, nailed it!

Sean, I just sent you an email to your fxww account – hopefully you can find a chance to have a look.

Cheers!

By: Abhi

Abhi — Thu, 06 Mar 2014 08:23:40 +0000

This was a great call Sean. I get the jitters if any news is around and I don’t trade at all. May be I should follow your swing trades blindly. 🙂

By: Warren

Warren — Wed, 05 Mar 2014 03:16:05 +0000

In reply to Sean Lee. Will do - cheers!

By: Sean Lee

Sean Lee — Tue, 04 Mar 2014 23:42:03 +0000

Feel free to ask questions or remind me to update my strategy if that helps

By: Warren

Warren — Tue, 04 Mar 2014 23:03:09 +0000

Interesting – I love the flexibility – thanks!

Currently working on rules for a position building strategy myself, and finding it frustrating working around limitations of broker (hedging and taking partial profits etc), but think there is good potential for a conservative and flexible trading strategy with an approach similar to what you describe.

I’ll keep my eyes open for more of your posts on this as have found this and several of your previous postings to be very helpful.

All the best.
Warren

By: Sean Lee

Sean Lee — Tue, 04 Mar 2014 22:37:42 +0000

For instance yesterday morning I sold at 18660 with 100 pips s/l. Then I left bid at 18580 post RBA and got filled and sold out of these at 18670. That improved my overall average and then I increased core position at 18660. So now I’m in a strong position with s/l close to break even. Won’t affect me if I get stopped but upside now starting to look interesting. Maximise profits, minimise losses- old cliche but true

By: Sean Lee

Sean Lee — Tue, 04 Mar 2014 22:35:00 +0000

Hi Warren, after all these years I’ve learned that I am primarily a contrarian trader and I always look for opportunities. Mkt is bearish AUD and very long GBP, so I’m thinking risk aversion might force a positional squeeze. Yes I have been noting the H&S. Normally I take a core position, size depending on where s/l is. Then I trade inside s/t range hopefully building size until break happens. Hope that makes sense?

By: Warren

Warren — Tue, 04 Mar 2014 22:26:38 +0000

Thanks Sean,

Can I ask:

– your reasoning for the short position? Is it the head&shoulders pattern developing or based on fundamentals/sentiment (hypothesis of AU strength and GBP weakness)

– when building your position, are the combined risks of your entries treated as one so that overall position size has a fixed risk of say 2% account size. Or is each entry considered in isolation (with respect to % equity at risk).

Many thanks in advance.