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Blackwave Australia - Strategy Description & Stats

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  • #31
    VIDEO: Click HERE. We will use any rally in AUDUSD to close our longs above 0.76 and raise cash. Any declines through 0.73 seem less likely but we will use this close our short trades.

    video-logo.jpg

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    • #32
      VIDEO: AUDUSD Technical Analysis HERE. I've changed my mind. With long trades 50% larger than short trades I am comfortable with this aggressive strategy.

      original-9217-7826615.jpg

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      • #33
        Any update on the AUDUSD trades, you mentioned the price could go higher to .80, but considering the current shorts on the account, why so little longs. Approached 50% DD on the account. Your thoughts please


        Sent from my iPhone using Tapatalk

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        • #34
          Hi Gunther. Yes I think the price could go to 80 but as I said in the video, not in a straight line. Position sizes on the buy side are double those on the sell side. You seem to imply that I should be loading up on the buy side but that would simply sow the seeds of another drawdown should the price begin to slowly decline. This I think is a vulnerability at these relatively overbought conditions.

          Having a relatively low position size on the sell side allows me to sell some more than would otherwise be the case thereby bring the average sell price higher. I think it is in hand actually but remember Blackwave Australia is the High Risk account. Blackwave Pacific is medium risk with a circa 6% drawdown.




          Gary Comey
          Blackwave
          www.fxlight.co

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          • #35
            VIDEO: Managed Forex Account Performance Update Click HERE. I said last week that although I felt AUDUSD would move higher toward 80 I did not think it would be in a straight line. That proved to be the case with Fridays decline to initial support at 77. Further declines towards 75 would not be unreasonable (and would be welcome) as Friday's candle was a shooting star.

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            • #36
              VIDEO: Click HERE.

              Having broken 77 we may now test support at 75. I continue to place larger buy orders than sell orders and any further move lower will see us turn from net short to net long. Longer term outlook remains bullish.

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              • #37
                [COLOR=#000000 !important]HIGH RISK: Blackwave Australia
                VIDEO:
                [/COLOR]
                [COLOR=#000000 !important]AUDUSD is now vulnerable to a rally back up towards 75 being former support now turns resistance. Position sizes here are key and I have raised the sell side position sizes to 0.03 in the master account. When we close out the buy side trades I will give some thought to reducing the buy side position sizes from 0.04 down to 0.03 too. Blackwave Australia trades AUDUSD in both directions at the same time.[/COLOR]

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                • #38
                  [COLOR=#000000 !important]VIDEO: SEE BELOW

                  Bad Day. Marked to market or in layman's terms "took a loss". As per the strategy any basket that experiences a 50% DD will close automatically. That happened. The account is still up 200% from the initial deposit but cold comfort today.
                  [/COLOR]
                  [COLOR=#000000 !important]So now you want your money back. What's next? As AUDUSD is quite oversold I will continue with the current position sizes until we reach 75. This will get you back some money quite quickly.[/COLOR]
                  [COLOR=#000000 !important]Then I will reduce the position size. It will go as follows. $2000 in the master account = 0.02 lots in both directions at the same time. $3000 in the master account = 0.03 lots in the master account in both directions at the same time. $5000= 0.05, $20,000 = 0.20 etc etc. The strategy remains the same however you can see here that the position sizes will go down a little. This will have the effect of making the strategy much more robust and the draw downs lower. We have managed 200% in less than 12 months so in the next twelve I am confident this strategy will do very well. Lesson learned on position sizes in this high risk account. THIS ACCOUNT WILL CONTINUE AND FURTHER GAINS ARE INEVITABLE.[/COLOR]

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                  • #39
                    [COLOR=#000000 !important]HIGH RISK: Blackwave Australia[/COLOR]
                    [COLOR=#000000 !important]Position sizes are key to success (google position sizes Van Tharp). That said I will maintain 0.04 lots in the master account on the long side given the oversold nature of the AUDUSD in anticipation of the coming rally. Then in keeping with our "education" bought and paid for from the market I will reduce position sizes so that they will equal the balance. $2000 account balance = 0.02 lots. $50,000 balance = 0.50 lots etc etc. This is more controlled and orderly and far more robust and has worked exceptionally well in Blackwave Pacific. The difference with Blackwave Australia is that it is in both directions at the same time therefore maintaining the high risk profile.[/COLOR]

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                    • #40
                      [COLOR=#000000 !important]HIGH RISK: Blackwave Australia[/COLOR]
                      [COLOR=#000000 !important]VIDEO: Click Below. Closed some more losers last week and then proceeded to employ the strategy in order to pay for those losers. Almost completely paid for them but will be continuing to work on this in the week to come. It's tidier this way. Still long 0.04 lots and short 0.02 lots and taking note of Thursday's hammer candle andFriday's higher high and higher low. Let's see if we can build a base down here for a move higher in the medium term.[/COLOR]

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                      • #41
                        [COLOR=#000000 !important]HIGH RISK: Blackwave Australia[/COLOR]
                        [COLOR=#000000 !important]Account balance beginning to move higher again. AUDUSD daily candles remain indecisive with a series of doji's, inside and outside candles. Looking for a rally from these oversold positions as we are long in double the size to our short positions.[/COLOR]

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                        • #42
                          HIGH RISK: Blackwave Australia

                          VIDEO: CLICK BELOW

                          [COLOR=#000000 !important]Now over 13% higher for the month with a very controlled draw down using the new positions sizes. Resistance at 75 but have we carved a higher low?[/COLOR]

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                          • #43
                            [COLOR=#000000 !important][/COLOR]
                            [COLOR=#000000 !important]VIDEO: Click HERE.

                            AUDUSD 75 still remains resistance. We are net short though not by much so largely hedged. Blackwave Australia stands to benefit from volatility around the vote. We will not be halting trading around the vote as the strategy is to trade AUDUSD in both directions at the same time and abandoning one direction would make no sense.
                            [/COLOR]

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                            • #44
                              Why is this named on Myfxbook ''HIGH RISK Blackwave Australia $1m'' when it has less than $2,000 in it? If I may say so, this is an issue with your signals, the low amounts of own money you trade on them.

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                              • #45
                                Originally posted by Ana. View Post
                                Why is this named on Myfxbook ''HIGH RISK Blackwave Australia $1m'' when it has less than $2,000 in it? If I may say so, this is an issue with your signals, the low amounts of own money you trade on them.

                                I admit the funds are spread across three accounts with varying risk profiles however with relatively low capital I am trying to provide a genuine choice. Low. Medium, High Risk. Irrespective of starting balance, pips are pips and percentages are percentages. I get your meaning though.

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