13 Jun 2017 - 0.752

Well the past week it's been ranging from 0.756 to 0.752. My margin call has been going from -$500 to breakeven. Still on a $1900 paper loss. Waiting out.

Yours,

X

9 Jun 2017 - Accumulation

So massive accumulation/consolidation going on now at 0.753. I'm still in a margin call of abt 200, means equity loss has been at around $2,000 for the past day. Still, no choice but to hold out all the way. I do think it's headed down, with the trend heading south and a couple of spikes which I see as stop hunts, so we'll see.

Yours,

X

7 Jun 2017 - Post GDP Release

Oh boy. Massive 30 pip spike from 0.75 to O.753. I'm in a margin call now. But thinking like a market maker means thinking that I can accumulate a heck of a lotta sell orders cos the masses are gonna be thinking "it's going up!" so I'm gonna hold out a bit more. Let's hope I don't get auto-closed.

Yours,

X

7 Jun 2017 - Australian GDP Release

So big day today. GDP is expected to drive AUD down which bodes well for me. That's in 1 hr's time. After selling at 0.747 yesterday, I thought I'd gotten it right when it dipped to 0.745. Rebounded last night though to 0.75 though. But I still think all the signs for a long downward trend is in the pipeline.

1. About 3 days of gains, with accumulation at 0.748-0.75
2. Market makers would know that a low GDP forecast would drive prices down.
3. 4hr RSI at 70.

Let's wait it out and see. If it spikes however, I'll hedge and attempt to make back the losses again. Let's see how prices react to the release.

Yours,

X

6 Jun 2017 - Rebound

So after dropping to 0.746,there was a bounce to 0.749. 30 pip loss for me, but hey, I still smell a stop hunt, so no hedging let's wait it out.

Yours,

X

6 Jun 2017 AUD/USD Predicted

So the aud/usd was ranging ard 0.748. I closed a position last night at 0.7477. Turns out at night it spiked to nearly 0.75, but came back down to 0.748. I smelt stop hunt. So I closed out all my long positions at 0.7484. Now I'm stuck with my $1.50 short at ard 0.739. Is this the day the market makers are going to make their move?

Well, indeed a massive 20 pip drop to 0.746 right now! Made back $500 on paper. Equity at $4500 now. I'm gonna wait out this sustained run (hopefully) and see if that's gonna return me to above $5250 which was my previous equity high. Or I might just close all positions at 0.74. We'll see!

Yours,

X

Market Maker Method

As mentioned in the previous post, the idea of stop hunting is pretty big to me now. I'm kinda moving towards the Market Maker Method. This past weekend saw me predict the huge jump on the AUD/USD from 0.739. Only problem is noob trader that I am put in a hedge order that somehow got triggered. I then put a limit on that at zero profit, waiting for the stop hunt, which didn't come. Then I saw a bounce off an EMA, and decided to put in two positions for up and down with a 1 pip limit, just to see if some quick money could be made. But the problem is that the stop hunt didn't come, and the long sustained run did. Again, noob trader that I was decided to wait for the second stop hunt before getting in again, which I did at $1 at 0.7449. Was up 5 pips and a stop hunt occurred again. Lost my nerve and closed out $0.50 at 0.7451 for a little profit. But now it's up to 0.747 and I'm like "shouldn't have hedged!!" But well, for trading to be sustainable, it means mistakes must be able to be made, and to be recovered from right?

So another really great indicator to look out for - ranging at 4hr-RSI30/70. Prime for a big move. Let's wait out for the next one :)

Yours,

X

Update to Strategy

Took a lesson in patience. Couldn't wait for the bounce and put in a couple of positions based on my "reading" of the charts. I'm down a thousand now.

But no despair, let's see if I can maintain discipline. A slight update to the strategy: strike price at EMA20 or EMA6, in the direction of previous day's EMA20 or EMA6. Together with the idea of stop hunting, I believe I'm still in the game. Let's do this!

Yours,

X