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AUD/USD

  • #94,441
  • Jan 3, 2016 11:38am Jan 3, 2016 11:38am
Quoting MitchL
I agree with your theories. And risk management is important. As I stated it was just a personal. All major economists would agree that the outlook for aud is down. Our mining boom is over etc. etc.
Actually I am interested only in your personal opinion.I couldn't care less about opinions of those high IQ morons who tend to be always surprised at market or economic turning points.We traders have skin in the game,they don't.
I see you come from different FX tribe,I understand your position.I was AUD bear two weeks ago myself.I would go back in your camp as soon as I see this pair bellow 0.71.
But keep in mind what was the wish of RBA : appropriate level for AUDUSD is 0.77.They've got quite decent overshoot here in my opinion.
  • #94,442
  • Jan 3, 2016 1:51pm Jan 3, 2016 1:51pm
fair call on the rba.

I hadn't traded for about 6 months but constantly monitor the market. I see the aid as ranging between .7385-.7000 roughly. Hence I shorted after it hit .7300. At 7288 (poor entry but that's where it was) 3 lots short there and had a short of 1 lot at .7325 which was just picked up. This is costing my about $90 per day just to hold the trades.

I would love to be bullish but it seems more likely we'll see .71 than .74 in the near future.

It is good to know that one of us will make money and I do wish you the best of luck

Mitch
  • #94,443
  • Jan 3, 2016 7:27pm Jan 3, 2016 7:27pm
Nice one.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 01-04-16 at 02.26 AM.PNG Size: 66 KB
Trust only yourself
  • #94,444
  • Jan 3, 2016 7:27pm Jan 3, 2016 7:27pm
took profit on 1 lot 7325-7255

Still riding my 3 lots
  • #94,445
  • Jan 3, 2016 8:33pm Jan 3, 2016 8:33pm
Quoting tashkent
{quote} testing the water {image}
test failed. 7170 is in radar
As Above, So Below
  • #94,446
  • Edited 9:11pm Jan 3, 2016 8:57pm | Edited 9:11pm
just took profit on another lot so still riding 2 lots from .7285

also added a 2 lot short eur/usd @1.08682 just cause it seems to be due for a drop based on the gbp/usd aud/usd & nzd/usd

added 3 more lots aud/usd with a short stop loss 0.72325 sl 0.72460 just hoping for it to reject the 1h high and head towards the 0.7170
  • #94,447
  • Jan 3, 2016 9:06pm Jan 3, 2016 9:06pm
Nice start to the new trading year. I hope all traders had a good long break from trading and market turmoil. Brace up for more to come

.7200 providing strong support currently, hourly looks like bulls have manage to protect it with all their might.

Trade safe!
  • #94,448
  • Edited 11:21pm Jan 3, 2016 9:18pm | Edited 11:21pm
Quoting SkyrEk
Nice start to the new trading year. I hope all traders had a good long break from trading and market turmoil. Brace up for more to come .7200 providing strong support currently, hourly looks like bulls have manage to protect it with all their might. Trade safe!

the drop is on poor chinese manufacturing data. we still have other markets to kick in and read the data
  • #94,449
  • Jan 3, 2016 11:22pm Jan 3, 2016 11:22pm
hourly is making a nice flag. ready for 50% further or retraction. you could almost straddle this pair
  • #94,450
  • Jan 4, 2016 2:16am Jan 4, 2016 2:16am
I am happy that this pair provided warning before strong correction started.I got 100 pips out of 150 max. which is decent.H4 chart is ruined now and we will have to wait for the winner of the battle in 7170 area.Until then I will stay safe.It looks that main thing is in JPY pairs and this is only spillover from there.
  • #94,451
  • Jan 4, 2016 3:41am Jan 4, 2016 3:41am
  •  Zinot
  • | Joined Dec 2015 | Status: VUIP - Very UnImportant Person | 138 Posts
will be short again soon

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH4.png Size: 92 KB
Insanity: doing the same over and over again & expecting different results!
  • #94,452
  • Jan 4, 2016 10:08pm Jan 4, 2016 10:08pm
Quoting MitchL
fair call on the rba. I hadn't traded for about 6 months but constantly monitor the market. I see the aid as ranging between .7385-.7000 roughly. Hence I shorted after it hit .7300. At 7288 (poor entry but that's where it was) 3 lots short there and had a short of 1 lot at .7325 which was just picked up. This is costing my about $90 per day just to hold the trades. I would love to be bullish but it seems more likely we'll see .71 than .74 in the near future. It is good to know that one of us will make money and I do wish you the best of luck...
Curious what broker you are using? I would have thought funding should be closer to $30 per day.
Hope for the best, prepare for the worst.
  • #94,453
  • Jan 4, 2016 11:17pm Jan 4, 2016 11:17pm
funding is $14ish per lot . I was short 4 lots so was $60us which is close enough to 90aud
  • #94,454
  • Jan 4, 2016 11:27pm Jan 4, 2016 11:27pm
Quoting MitchL
funding is $14ish per lot . I was short 4 lots so was $60us which is close enough to 90aud
I'm well aware of the mechanics as I too had 4 shorts (although the entries were not as good as yours) and end of day the profit I made dwarfed the funding but fact remains I think your funding costs are too high. I use IG
Hope for the best, prepare for the worst.
  • #94,455
  • Jan 5, 2016 12:24am Jan 5, 2016 12:24am
On FXCM, being short 4 lots is only $18.40 USD per day.
  • #94,456
  • Jan 5, 2016 12:44am Jan 5, 2016 12:44am
Quoting PizzaGuy
On FXCM, being short 4 lots is only $18.40 USD per day.
For fxcm minimum deposit $2000. It's too high so many people like me cannot afford. But 4 lot only $18.40?How?
  • #94,457
  • Jan 5, 2016 1:05am Jan 5, 2016 1:05am
Quoting biccinno
{quote} For fxcm minimum deposit $2000. It's too high so many people like me cannot afford. But 4 lot only $18.40?How?

Attached Image


Each mini-lot (10K) is $0.46 per day, so each lot (100K) is $4.60 per day.

What is the maintenance margin amount that your broker has you set aside for each lot?
  • #94,458
  • Jan 5, 2016 2:09am Jan 5, 2016 2:09am
I could be wrong

I will have to check in the morning if I am still short

I am with go markets
  • #94,459
  • Jan 5, 2016 5:17pm Jan 5, 2016 5:17pm
swap was $18.72 for 2 lots
  • #94,460
  • Jan 5, 2016 6:00pm Jan 5, 2016 6:00pm
AUDUSD still battle at around 0.7170 before going to 0.7100
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