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AUD/USD

  • #10,061
  • Nov 27, 2009 12:11pm Nov 27, 2009 12:11pm
Quoting Daytrader74
Thanks Letos , I wont give up I want to learn this very much so its a set back but it sure isn't the end of my trading...I mean after all I might just get to keep my shirt
i ll tell u something m8
u learn the most when u mess up and analysis ur mistakes but u dont learn much when u just make profits
i lost alot on a trade too 2 month ago and i was so messed up that i thought of quiting but i learned and got back to the books and learned new analysis ways and i made up 80% of what i lost now
thats how it goes ,, and it makes me harder to lose now when u lose the frist time
dont lose hope and be more carefull and use less levenge till u get out of the sycological loss
  • #10,062
  • Nov 27, 2009 12:11pm Nov 27, 2009 12:11pm
Quoting shahab8b
it's almost over now, 1pm in US, its Fri after thanksgiving stocks are close at 1.00 pm, but the intermarket will run till 5 pm here, 4 hours left but, its almost done, see you all in Mon , ciao

Thanks for all your help in the thread Shahab, have a good weekend.
  • #10,063
  • Nov 27, 2009 12:13pm Nov 27, 2009 12:13pm
Quoting Jesus4748
i ll tell u something m8
u learn the most when u mess up and analysis ur mistakes but u dont learn much when u just make profits
i lost alot on a trade too 2 month ago and i was so messed up that i thought of quiting but i learned and got back to the books and learned new analysis ways and i made up 80% of what i lost now
thats how it goes ,, and it makes me harder to lose now when u lose the frist time
dont lose hope and be more carefull and use less levenge till u get out of the sycological loss
Thanks mate I have definatly learned a lesson here and will be sure not to repeat the same mistakes again...
  • #10,064
  • Nov 27, 2009 12:17pm Nov 27, 2009 12:17pm
I am long on AUD/USD lost half the account in a day to bad there are not any bridges where I am at
does any one have any insight s to where the AUD may close today?
Mike
  • #10,065
  • Nov 27, 2009 12:18pm Nov 27, 2009 12:18pm
it looks like its on its way back up a couple more green dots and i wiil be long
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Find a job that you love and you dont have to work again in your life.
  • #10,066
  • Nov 27, 2009 12:22pm Nov 27, 2009 12:22pm
here is my recent count , first chart is the one i posted earlier today and it worked perfectly , but i didnt trade it long
second chart is what i think will happen
shorting here and adding more up
trade good guys
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  • #10,067
  • Nov 27, 2009 12:25pm Nov 27, 2009 12:25pm
Quoting Jesus4748
here is my recent count , first chart is the one i posted earlier today and it worked perfectly , but i didnt trade it long
second chart is what i think will happen
shorting here and adding more up
trade good guys
So what are you saying ? that it will go down?
  • #10,068
  • Nov 27, 2009 12:30pm Nov 27, 2009 12:30pm
Quoting Daytrader74
So what are you saying ? that it will go down?
i m saying we r in wave c of bigger wave 2 and we could see a fall down from here or after a little extend higher to 9150 max
i started shorting here and i ll add more on it breack to 9100-9130 area
  • #10,069
  • Nov 27, 2009 12:32pm Nov 27, 2009 12:32pm
Quoting Jesus4748
i m saying we r in wave c of bigger wave 2 and we could see a fall down from here or after a little extend higher to 9150 max
i started shorting here and i ll add more on it breack to 9100-9130 area
So if u will be adding more short on a break of 9100-9130 why did you short it now at 0.9060??
  • #10,070
  • Nov 27, 2009 12:46pm Nov 27, 2009 12:46pm
Quoting Daytrader74
So if u will be adding more short on a break of 9100-9130 why did you short it now at 0.9060??
cause most probably it wont go up there
i always short from my first probabilty of reversal so that later i dont say i messed the trend down , but if it goes to my second probability then its even better as i can add more shorts and averge a better bigger position and make more profits if its a successfull trade
  • #10,071
  • Nov 27, 2009 12:49pm Nov 27, 2009 12:49pm
Quoting Jesus4748
cause most probably it wont go up there
i always short from my first probabilty of reversal so that later i dont say i messed the trend down , but if it goes to my second probability then its even better as i can add more shorts and averge a better bigger position and make more profits if its a successfull trade
I get you now...so your trying to catch it early if it goes your way!
  • #10,072
  • Nov 27, 2009 12:50pm Nov 27, 2009 12:50pm
Quoting Daytrader74
So if u will be adding more short on a break of 9100-9130 why did you short it now at 0.9060??
i messed couple of trades before and learned this the hard way ,,, yesterday i thought euro will rebound down from 1.5030 and i wanted to short there but i set it as secondary short target and i shorted off 1.5010
and guess what
it went up to 1.5023 and then went down
if i didnt short at a primary short target 1.5010 and waited for it to go to my main target i would have lost this reversal for just 7 pips
and i hate when that happens
i can see now a clear ABC correction and i see c wave extended 162% of wave b and it meets my profile so i shorted at 9070 but if it goes high i might short it off 91-25 30 or maybe 50 cause it might hit the back of the daily trend line and falls but
i still think it might go down from here so i ll short here just to capture the trend down if it happens and add more up
  • #10,073
  • Nov 27, 2009 1:01pm Nov 27, 2009 1:01pm
Quoting Jesus4748
i messed couple of trades before and learned this the hard way ,,, yesterday i thought euro will rebound down from 1.5030 and i wanted to short there but i set it as secondary short target and i shorted off 1.5010
and guess what
it went up to 1.5023 and then went down
if i didnt short at a primary short target 1.5010 and waited for it to go to my main target i would have lost this reversal for just 7 pips
and i hate when that happens
i can see now a clear ABC correction and i see c wave extended 162% of wave b and it meets my profile so i shorted...
yes now I understand better, thanks for explaining.
  • #10,074
  • Nov 27, 2009 1:03pm Nov 27, 2009 1:03pm
Quoting Daytrader74
yes now I understand better, thanks for explaining.
ur welcome
anytime
  • #10,075
  • Nov 27, 2009 6:16pm Nov 27, 2009 6:16pm
Nice bounce this afternoon. I didn't know what to expect when I got back home but now I see. Awwwww, they just messing with us. This ain't a market meltdown - they only filled the gap that was left at the beginning of the week (you know I love gaps ). If it really was market meltdown, they could have pushed it so much further down today especially with the low liquidity.

I know AUD isn't included in the USDX but I use it to give me another view of the US$. Below is the 4 hour chart showing the gap fill. It's happened three weeks in a row now. Hammer the US$ early in the week then fill the gap to the end of the week. End of month profit taking with Dubai chucked in the mix. I've also included the weekly USDX chart showing what I consider to be a trend change candle. This week's candle pales into insignificance.

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Nothing worth having is easy.
  • #10,076
  • Nov 27, 2009 7:22pm Nov 27, 2009 7:22pm
[quote=Patience;3266955]Nice bounce this afternoon. I didn't know what to expect when I got back home but now I see. Awwwww, they just messing with us. This ain't a market meltdown - they only filled the gap that was left at the beginning of the week (you know I love gaps ). If it really was market meltdown, they could have pushed it so much further down today especially with the low liquidity.

I know AUD isn't included in the USDX but I use it to give me another view of the US$. Below is the 4 hour chart showing the gap fill. It's happened three weeks in a row now. Hammer the US$ early in the week then fill the gap to the end of the week. End of month profit taking with Dubai chucked in the mix. I've also included the weekly USDX chart showing what I consider to be a trend change candle. This week's candle pales into insignificance.

They were messing with us ? I nearly lost my shirt !!
  • #10,077
  • Edited 8:10pm Nov 27, 2009 7:59pm | Edited 8:10pm
Quoting Daytrader74
They were messing with us ? I nearly lost my shirt !!
Be thankful that you still have one - at least you survived Thanksgiving Week I'm sure a lot of traders on the Yen didn't.

Just from reading some of your posts, I am assuming that you are a relatively new trader. By the sounds of things, you are over-leveraging and/or under-capitalised and/or not using stop losses. There are some very good threads on FF about money management etc and if you haven't visited babypips.com, you might want to take a look.

Keep it green ....

[EDIT] And while I am at it, just seen this on my email. Review of the markets for the week for you funnymentalists out there.

Attached File(s)
File Type: pdf 271109_Financial_Markets_REVIEW.pdf   115 KB | 295 downloads
Nothing worth having is easy.
  • #10,078
  • Nov 27, 2009 8:25pm Nov 27, 2009 8:25pm
Quoting Patience
Be thankful that you still have one - at least you survived Thanksgiving Week I'm sure a lot of traders on the Yen didn't.

Just from reading some of your posts, I am assuming that you are a relatively new trader. By the sounds of things, you are over-leveraging and/or under-capitalised and/or not using stop losses. There are some very good threads on FF about money management etc and if you haven't visited babypips.com, you might want to take a look.

Keep it green ....

[EDIT] And while I am at it, just seen this on my email. Review...
Yeah I'm new to Forex trading and mainly only trade AUD/USD and the last couple of days have been my worst as I watching my account go deeper and deeper in the red...and your right I don't use stop losses, and I been taking trades that are worth about $10 a pip is that too much ??
  • #10,079
  • Nov 27, 2009 8:44pm Nov 27, 2009 8:44pm
Quoting Daytrader74
Yeah I'm new to Forex trading and mainly only trade AUD/USD and the last couple of days have been my worst as I watching my account go deeper and deeper in the red...and your right I don't use stop losses, and I been taking trades that are worth about $10 a pip is that too much ??
Well that all depends on your personal comfort level. If I was trading $10 per pip, I'd prefer to have at least $50,000 in my account but that's just me. I trade low leverage.

You should always put in a disaster stop loss if you are highly leveraged. What if a black swan event happened? Do you know what leverage you are using?
Nothing worth having is easy.
  • #10,080
  • Nov 27, 2009 8:44pm Nov 27, 2009 8:44pm
Depends on what you're willing to lose.
With high risk, you have the potential to make big gains or big losses.
I've played with $40 a pip previously and its a dangerous game.
I'm new to forex also and i now play $10 a pip.
You obviously need some equity behind you if you're playing with higher $ per pip, importance is setting a SL when you trade, I've learnt the hard way and took some ridiculous advise from a broker who cost me plenty.
I've never been able to get back into it, as I keep losing more.
Be careful when you're new to the game and play small.

Quoting Daytrader74
Yeah I'm new to Forex trading and mainly only trade AUD/USD and the last couple of days have been my worst as I watching my account go deeper and deeper in the red...and your right I don't use stop losses, and I been taking trades that are worth about $10 a pip is that too much ??
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