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Position Trading AUD/USD

  • #61
  • Jan 31, 2019 8:33pm Jan 31, 2019 8:33pm
AUD a little too strong....
  • #62
  • Edited 9:09pm Jan 31, 2019 8:58pm | Edited 9:09pm
Quoting MarinaBanker
AUD a little too strong....
Yeah, might be the price of gold driving it? If gold turns quickly will watch /sell AUD
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  • #63
  • Jan 31, 2019 9:13pm Jan 31, 2019 9:13pm
Quoting danc
MMM Yr punching a bit above my weight i am afraid Jack.. Dont quite know what you are talking about..and 2 old to learn..interesting thou ..i only know to buy when i think its going up and sell when i think its going down..any straitgy other than that does my head in i afraid..
I'm not sure it is definable either. Other than it's about net-exposure and then trying to follow price? Or buying cheap and selling high (yeah right!), or just a random-walk, even.

I think the general idea is to be able to take a trade at any price or time, long or short, and be able to trade out of it at a profit or for an even price, without relying on a specific direction.

It's kind of like being given a bag of bananas, it's up to you if you can find a time or place to sell them at a higher or better price.. or you can just eat them yourself, nom nom.

We hit the high at 1am my time, looking back it was a healthy sell candle but I was in bed

... I'll probably buy 0/7220 . Also brought some on this drop, buying the highs is a bad idea but I need the long exposure as I'm heavy net-short

I sold 0.7280 but the stop-loss collectors got me and i didn't have time reload

Also have an old short or two I should sell if we get a push back down tonight
grist for the mill
  • #64
  • Jan 31, 2019 9:36pm Jan 31, 2019 9:36pm
Bag off bananas hey??used to be in the banana business..buying green ripen em and sell em.. had this BIG 50 ft fibre glass banana mounted on top of and old shed..called it gold coast banana markets..used to walk around with an apron on collect the monie put it in the front of my apron..all CASH monie..AMAZZING business abt 40 years ago..MMMM just yester day.. any how i am short the ADUD and the ADjy
  • #65
  • Jan 31, 2019 9:52pm Jan 31, 2019 9:52pm
Quoting JackJones
{quote} Yeah, might be the price of gold driving it? If gold turns quickly will watch /sell AUD {image}

Is that rite Jack?? i didnt know that.. Gold against the USD ?? MM got it going down on my 1hr and 4 hr charts..hope u rite
  • #66
  • Jan 31, 2019 11:09pm Jan 31, 2019 11:09pm
Quoting danc
Bag off bananas hey??used to be in the banana business..buying green ripen em and sell em.. had this BIG 50 ft fibre glass banana mounted on top of and old shed..called it gold coast banana markets..used to walk around with an apron on collect the monie put it in the front of my apron..all CASH monie..AMAZZING business abt 40 years ago..MMMM just yester day.. any how i am short the ADUD and the ADjy
I like bananas and you sold bananas.. yikes! haha

Yeah, buy 'em cheap, sell 'em high, (and vice versa with FX) and when you can't do that, panic... j/k, hedge it out..

I know people complain about 'hedging' but if you don't know the direction then it makes sense!
grist for the mill
  • #67
  • Feb 1, 2019 12:48am Feb 1, 2019 12:48am
So had some spare time today and was thinking.. what is the main goal of this method?

The Goal: A Positive average long - average short ratio. ie. A positive net exposure.

Meaning: your average long price is below you average short price.

This is the main goal... How to achieve it is the question.

My current net exposure is -127 pips: 07280 - 07153
grist for the mill
  • #68
  • Feb 4, 2019 1:57am Feb 4, 2019 1:57am
New week traders!

looking at this new zone below 0.7200 to see if we drift down and into it, potential for 0.7150 again... before the new events tomorrow morning (night)
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  • #69
  • Feb 5, 2019 9:48pm Feb 5, 2019 9:48pm
WOoooo traders!

Got the drop to 0.7150 (thanks Lowe!)

Closed some shorts on the way down and picked up some buys with orders I had sitting there.. so now I'm net-long again (yikes).. either going to sell a bounce/retrace or buy it more if we go much below 0.7150 today.
grist for the mill
  • #70
  • Feb 6, 2019 1:49am Feb 6, 2019 1:49am
Potential rebound or price trend continuing to the downside..
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  • #71
  • Feb 6, 2019 1:51am Feb 6, 2019 1:51am
Smashed BAD..didnt see that at all
  • #72
  • Feb 6, 2019 2:31am Feb 6, 2019 2:31am
Quoting danc
Smashed BAD..didnt see that at all
Still in the up channel though so maybe longs will be back soon? into heavy over-sold prices now..

Doesn't sound like Aud rates are going up anytime this year or next (maybe?) so brave to hold long-term longs i think.. which sucks because i brought a few too many longs today.. got rid of the -200 pip short though!
grist for the mill
  • #73
  • Feb 7, 2019 6:07pm Feb 7, 2019 6:07pm
Bought some for hi side 7090 ish..looks to me possible usdx topish..fibo cluster previous top etc fingers and legs crossed
  • #74
  • Feb 12, 2019 5:36am Feb 12, 2019 5:36am
New week traderrrrrrssssss

Bear flag and maybe the shorts have finally won?!?!
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  • #75
  • Feb 12, 2019 10:47pm Feb 12, 2019 10:47pm
Got my flags confused with channels.. correction: channel down but now broken to upside, if we can get back to the MAGIC number 0.7148(50) then that would be GREAT as I can pick up some shorts.

Noticed something in my hourly candles..if it turns out to be helpful this could be awesome.

Has the almighty Pitchfork revealed itself? Could be good selling at 0.7200 - we will see!
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  • #76
  • Feb 15, 2019 7:24pm Feb 15, 2019 7:24pm
So back to 07150 on the close!! exciting week for AUD


Buying at 07100 ended up winning so maybe we will get a push for 0.7200 - I'll be selling 0.7200 and I've got some longs to offload
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  • #77
  • Edited Feb 20, 2019 1:27am Feb 19, 2019 9:12pm | Edited Feb 20, 2019 1:27am
Quoting JackJones
so maybe we will get a push for 0.7200 - I'll be selling 0.7200 and I've got some longs to offload {image}


Happy hump day traders!

seems the bulls are back this week... looks like we might make it back to 0.7200 - which gives me some breathing room - Plan was to sell it so that is what I will do!

looks like Gold broke new highs 3 hours before AUD decided to push up so note to self: watch Gold more carefully.
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  • #78
  • Feb 20, 2019 7:49pm Feb 20, 2019 7:49pm
Nice rejection of of 0.72000

Sitting on 0.7150 again so waiting to see who wins.. employment numbers seem okay but might not be enough to hold 0.7150.. if we break above 7200 I think 7300 is a long target. if 7150 fails to hold then maybe we will continue down. blurry picture because i'm away from home any using a tiny laptop. will probably buy 0.7100 if we get there. I'm net short now.
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  • #79
  • Feb 21, 2019 10:26pm Feb 21, 2019 10:26pm
Nice push down so looking at it like this now. If we push about 0.7150 and hold then probably going to get long.
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  • #80
  • Feb 22, 2019 12:15pm Feb 22, 2019 12:15pm
Wow someone on FF watching correlated markets, there is hope for this place after all!

Maybe try adding xcuusd/xauusd
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