Comments on: Big hedge funds playing ranges in Asian session

By: Yue

Yue — Thu, 18 Apr 2013 06:31:20 +0000

Thank you for your encouragement, Sean! I am looking forward to learn more from you in the puzzled forex market!

By: Sean Lee

Sean Lee — Thu, 18 Apr 2013 05:16:13 +0000

Yue, I make so many mistakes it’s not funny. I miss out on heaps of trades like GBP/NZD you just mentioned and we only need to be slightly off with our timing, entry levels, position sizes etc and trading becomes really hard indeed. Stay disciplined, I have a feeling that you will do well.

By: Yue

Yue — Thu, 18 Apr 2013 05:03:50 +0000

OK, I see. Thank you,Sean! I’ll wait to add short on rallies. I always encounter the same kind of problems which could make very disappointed trade. Such as GBPNZD shows strong downside trend in Jan, I shorted at 1.97, but it climbed to 1.98. I closed the trade at 1.95 nervously. But now it is 1.8……I think This is just the gap between a newbie and a master like you. Thank you for your good advice! Have a nice day!

By: Sean Lee

Sean Lee — Thu, 18 Apr 2013 04:47:27 +0000

Hi Yue, if I’m trading well then I tend to opt for the more aggressive strategy ie adding on rallies and covering whole amount on dip. If my trading is struggling, then I tend to book the profits I have, until such time as I get out of the hole. Hope that makes sense?

By: Nachiket

Nachiket — Thu, 18 Apr 2013 04:23:04 +0000

looking at today’s action I agree with you

By: Yue

Yue — Thu, 18 Apr 2013 03:53:50 +0000

Hi,Sean,I still hold short position of EURUSD at 1.3180, still add short position at 1.31 look for 1.2950 or just close it to find new opportunity, which is better? Thank you!

By: Lam-Son

Lam-Son — Thu, 18 Apr 2013 03:22:14 +0000

Do you still sell Aussie with your target .95, Sean? I find our currency non-understandable, misleading and strange. Every time I tried sell it, I got slammed. Australia is getting to the list of most expensive countries, along with NZ. But the A$ goes below parity only temporarily on black days or turmoil of the market. Let’s see if RBA will cut rate or not. If not, Aussie may climb to 1.07??