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  • #3,341
  • Sep 10, 2009 6:36am Sep 10, 2009 6:36am
Quoting T55
Heh I'm still pretty new to this, but in essence, isnt it the same as trading CADUSD (just reverse it so its not USDCAD). To be honest... I'm just a student who has never done any sort of economics lol.

Snatched 55 pips from my Euro short so god enough for me there
yes ur right ,, its kinda like this
i m new too but i have been studing and practising for couple of month now and i learned alot of things fast
  • #3,342
  • Sep 10, 2009 7:25am Sep 10, 2009 7:25am
My thoughts remain unchanged from Tuesday. I think we will continue to see consolidation. I am Short from several days ago and intend to continue to sell into any strength with a view to holding for several months.
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If there is ever any doubt then there is no doubt.
  • #3,343
  • Sep 10, 2009 8:18am Sep 10, 2009 8:18am
Guys,

Here is a weekly chart which clearly shows upward trend? I am afraid if this holds true then all my soldiers will be dead by tomorrow...
Attached Image (click to enlarge)
Click to Enlarge Name: chart.png Size: 57 KB
  • #3,344
  • Sep 10, 2009 8:53am Sep 10, 2009 8:53am
add more short 8540 should brek tonite
  • #3,345
  • Sep 10, 2009 8:58am Sep 10, 2009 8:58am
Puks,

Okay that is the weekly chart ,the weekly candle can move up and down quite a bit before the week is over... I think you stand a chance of at least getting your guys out ,how about hedging in the opposite direction ? I overleveraged once and didn't hedge and had a margin call, if I had hedged I would of preserved the level of my account, and 2 weeks later it was back down to where I had a margin call. If you don't know how to hedge ask and I or someone will explain it to you. Losing a little is alot better then losing alot!
  • #3,346
  • Sep 10, 2009 9:02am Sep 10, 2009 9:02am
Quoting fxgrnwise
Puks,

Okay that is the weekly chart ,the weekly candle can move up and down quite a bit before the week is over... I think you stand a chance of at least getting your guys out ,how about hedging in the opposite direction ? I overleveraged once and didn't hedge and had a margin call, if I had hedged I would of preserved the level of my account, and 2 weeks later it was back down to where I had a margin call. If you don't know how to hedge ask and I or someone will explain it to you.
that would be great help if you could please explain how to hedge in order to be safe?

thanks
  • #3,347
  • Sep 10, 2009 9:06am Sep 10, 2009 9:06am
the second red candle forming, i expect 5 more red on its way but it may stop after the third one

http://img39.imagefra.me/img/img39/2...hm_227ea6d.png

good to see the shorties made some pips , shall we dance?
  • #3,348
  • Sep 10, 2009 9:12am Sep 10, 2009 9:12am
compression on 1 minute charts move stops lockck in profit
  • #3,349
  • Sep 10, 2009 9:14am Sep 10, 2009 9:14am
Puks,

You can either put buys on the same pair AUD/USD if you have a broker that allows hedging in the same pair, or put buys on a pair that is running in the same direction as the AUD/USD like NZD/USD or Ben10 can give you suggestions. You have 5 lots short from what I understand IF you can put at least 1 lot or 2 on as a buy and if it keeps going up add more buys so if you had to hedge 100% you would have 5 lots buy to counter your 5 lots short. You would also make some money if you closed the Buys before it turns and comes down. At 5 lots long your margin will be even. I was frozen when this happened to me even my broker said Hedge! Hedge! but I didn't understand until it was too late then I started to hedge.
It will preserve your margin so that it won't take your positions. If you still have more questions feel free to ask because you need to do something.
  • #3,350
  • Sep 10, 2009 9:15am Sep 10, 2009 9:15am
8580 now become resistance and 8600 still the line on the sand ! price travel below it means the bears still in the drivers seat! keep shorting
  • #3,351
  • Sep 10, 2009 9:18am Sep 10, 2009 9:18am
six red candle (first leg down) on 5 minute chart has passed now the second leg down could be in the making if the 0.8580 not penetrated.
  • #3,352
  • Sep 10, 2009 9:21am Sep 10, 2009 9:21am
ok had a quicky look at usd/yen is falling on 5 minute , so i expect the move down will continue on aud/usd
  • #3,353
  • Sep 10, 2009 9:24am Sep 10, 2009 9:24am
when usd/yen falling ! most yen crosses also down , what to do then shooooot!
  • #3,354
  • Sep 10, 2009 9:24am Sep 10, 2009 9:24am
Quoting fxgrnwise
Puks,

You can either put buys on the same pair AUD/USD if you have a broker that allows hedging in the same pair, or put buys on a pair that is running in the same direction as the AUD/USD like NZD/USD or Ben10 can give you suggestions. You have 5 lots short from what I understand IF you can put at least 1 lot or 2 on as a buy and if it keeps going up add more buys so if you had to hedge 100% you would have 5 lots buy to counter your 5 lots short. You would also make some money if you closed the Buys before it turns and comes down. At 5 lots...
Thanks a lot and I really appreciate your help. Here's what I've done and here's where I stand:::

I closed one more lot at .8570, from .8610 and entered the same lot in short direction in EUR/USD. Now I know, its not a hedge (I should have gone long)

I'll break even at .8470 but willing to close all shorts positions at .8500 and keep the euro short open for 200-300 pips to get break-even on the AUD/USD loss.

do you have a better suggestion? I have some free equity but I want to save it just incase the market turns bullish again...

Cheers
  • #3,355
  • Sep 10, 2009 9:27am Sep 10, 2009 9:27am
back to the aussie/dollar second leg down is forming on 5 minute chart!
first red candle is on ... so add more short? oh slow down cowboy let her pass the 8560 first you wank!!
  • #3,356
  • Sep 10, 2009 9:34am Sep 10, 2009 9:34am
Puks,
No I don't have a better suggestion at this time, if the AUD keeps coming down then you will be okay, its okay to short the EU as long as it is coming down as well, If they go up then you will need to be prepared with a strategy. Do an If the AUD/USD goes back up I will do ....... be prepared until you are safe. NZDUSD I think runs in sync with AUD/USD.

Maybe Ben10 can throw in his suggestion when he is through scalping.
  • #3,357
  • Sep 10, 2009 9:36am Sep 10, 2009 9:36am
Quoting ben10
back to the aussie/dollar second leg down is forming on 5 minute chart!
first red candle is on ... so add more short? oh slow down cowboy let her pass the 8560 first you wank!!
where do u think this will settle down in the end and when roughly ?

i would say 8450 is the spike down before retracment next week but it ll bounce of the 85 for like 30-50 pips before it leagues down again to 8450
  • #3,358
  • Sep 10, 2009 9:36am Sep 10, 2009 9:36am
count the candle from the top and it show price weakness

http://img37.imagefra.me/img/img37/2...um_b494168.png

how many legdown i expect? well actually 7 legs but 3 should be good
  • #3,359
  • Sep 10, 2009 9:41am Sep 10, 2009 9:41am
ouch! reversal forming closed all position and watch....
  • #3,360
  • Sep 10, 2009 9:41am Sep 10, 2009 9:41am
i think the next report coming out of the usa for the oil inventories will fuel the makret a little bit ,, it remmeber last time it bounced the market good ,,
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