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AUD/USD

  • #10,281
  • Nov 30, 2009 8:14pm Nov 30, 2009 8:14pm
should see some fireworks interest rate decision in australia 1 hr and 20 mins from this post 12 out of 13 economists predict Oz will raise rates for the 3rd month in a row by .25 %..
  • #10,282
  • Nov 30, 2009 8:14pm Nov 30, 2009 8:14pm
with a pivot of .9155 it can go either way, taking into consideration the major news everyone is going to dump their shares so as not to get caught going in the wrong direction..if I pick up 25 pips....life is good
  • #10,283
  • Nov 30, 2009 8:16pm Nov 30, 2009 8:16pm
Quoting Mckal41
yep..they are standard, my average return is around $3k per day...risky yes, but the adrenaline rush is unbelievable
Wow. $400 per pip. I freaked out trading $50.00 per pip. I'm such a woose. How long have you been trading if you don't mind me asking.
Nothing worth having is easy.
  • #10,284
  • Nov 30, 2009 8:20pm Nov 30, 2009 8:20pm
Quoting sinner-
PS: Is that you frank D?



There has been some good contributions to this thread recently so I am happy to share my thoughts for potential playouts, especially as I plan on trading AUD/USD much more intensively next year. Bull bias in green, bear bias in red. Keep in mind monthly pivot zone level (as well as weekly engulf close), fibs and other S/R levels from prior chart.
thank and i copy how you draw the fib line ( last week high and low) and i put my compression theory on it this whats look like as the fib line become a guide to scale the trades, i'll trade the price at 9177, 9133 and 9089 but from this multiple MA and price action seems like she want to sail north IMO!

http://img40.imagefra.me/img/img40/1...dm_a410600.png
  • #10,285
  • Nov 30, 2009 8:20pm Nov 30, 2009 8:20pm
looking in to my crystal ball i'd say rba will surprise today by not raising rates.

if they raise rates, price will drop, close the gap and then rise. if they hold it will rise and then drop busting through the gap.

with crazed and depraved analysis like this, its a good job i'm not putting money where my mouth is
bull in a china shop
  • #10,286
  • Nov 30, 2009 8:22pm Nov 30, 2009 8:22pm
i started losing $ in 2005, learned a great deal about this market and take chances accordingly, I use a manual calculation I get overwhelmed with the charts ..to many of them so I use a high low straddle , I take the high of the wave subtract the low divide by 2 for 50% mark and trade the direction of the trend , when its close to 50% retracement I dump what I have then enter for 1 and hedge either direction
  • #10,287
  • Nov 30, 2009 8:24pm Nov 30, 2009 8:24pm
Quoting Patience
Wow. $400 per pip. I freaked out trading $50.00 per pip. I'm such a woose. How long have you been trading if you don't mind me asking.
agree thats abit too much thats 1 week renting a unit in sydneys suburb.
  • #10,288
  • Nov 30, 2009 8:26pm Nov 30, 2009 8:26pm
I lost a bucket full on the Dubai news, but have since recovered in 2 days
  • #10,289
  • Nov 30, 2009 8:26pm Nov 30, 2009 8:26pm
Quoting ben10
agree thats abit too much thats 1 week renting a unit in sydneys suburb.
I found a broker who will let you trade 1c per pip !!!
  • #10,290
  • Nov 30, 2009 8:33pm Nov 30, 2009 8:33pm
Quoting Mckal41
yep..they are standard, my average return is around $3k per day...risky yes, but the adrenaline rush is unbelievable
I am not trying to disrespect in anyway but anyone trading 40 lots would not state it in a chat room and say that it is the adrenaline rush they are after. Also you are looking to make 3k but you are not risking any less than 4k if you are really trading forex for anytime at all. The only reason that i post this is not to throw mud in anyones face but for the benefit of new traders. Remember 95% of all traders blow up there account in the first 3-6 months.
Chris
  • #10,291
  • Nov 30, 2009 8:35pm Nov 30, 2009 8:35pm
Quoting Mckal41
i started losing $ in 2005, learned a great deal about this market and take chances accordingly, I use a manual calculation I get overwhelmed with the charts ..to many of them so I use a high low straddle , I take the high of the wave subtract the low divide by 2 for 50% mark and trade the direction of the trend , when its close to 50% retracement I dump what I have then enter for 1 and hedge either direction
Hi Mckal41,

im interested in your way of trade (stradle). so... base on last week price action the hihg is 9320 minus the low of 8945 = 375 pips/2 = 187.5 pips where you put the trade long and the short and base on last week price action we are in down move and pullback so far
  • #10,292
  • Nov 30, 2009 8:39pm Nov 30, 2009 8:39pm
Quoting Mckal41
I lost a bucket full on the Dubai news, but have since recovered in 2 days
You must have a strong heart and fantastic psychological stamina. I think I need a lot of work on the psychological aspect. I don't mind spreading the risk i.e. I could handle 5 different trades at $10.00 per pip all right but I freaked out when I put $50.00 per pip on one trade and to actually put the sum of money that you trade on one trade, I don't think I'll ever reach that level ....
Nothing worth having is easy.
  • #10,293
  • Nov 30, 2009 8:42pm Nov 30, 2009 8:42pm
I am looking at the low of .9083 high of .9401..this is very consistent with numerous threads
right now the trend is showing up, the reversal will happen shortly I get out and head north on the trade
  • #10,294
  • Nov 30, 2009 8:42pm Nov 30, 2009 8:42pm
man im realy nervous out here. i got 2 long around 9200, i order 2 short around 9150 to hedge if the RBA outcome is bad, wat do tou think..?
  • #10,295
  • Nov 30, 2009 8:44pm Nov 30, 2009 8:44pm
Quoting Daytrader74
I found a broker who will let you trade 1c per pip !!!
thank you very much for the info , do you know any broker thats allow buy and sell at the same time and dont have to pay the swap plus the margin also stay flat?
  • #10,296
  • Nov 30, 2009 8:49pm Nov 30, 2009 8:49pm
as mentioned I use manual calculations generally trade 1 direction, when hedging I wait for 50 pip movement and add exponetially e.g 1 at 50 pips 2 at 100 pips 3 at 150 and so on, when the trade turns i will add up to 40 standard wherever it is, then take a short ride and get off the bus
  • #10,297
  • Nov 30, 2009 8:56pm Nov 30, 2009 8:56pm
Quoting Mckal41
as mentioned I use manual calculations generally trade 1 direction, when hedging I wait for 50 pip movement and add exponetially e.g 1 at 50 pips 2 at 100 pips 3 at 150 and so on, when the trade turns i will add up to 40 standard wherever it is, then take a short ride and get off the bus
thanks
  • #10,298
  • Nov 30, 2009 8:56pm Nov 30, 2009 8:56pm
Quoting ben10
thank you very much for the info , do you know any broker thats allow buy and sell at the same time and dont have to pay the swap plus the margin also stay flat?
No sorry, if I find one I'll let you know though.
  • #10,299
  • Nov 30, 2009 9:00pm Nov 30, 2009 9:00pm
aud/yen so far so good and penetrate the resistance hopefully through and beyond then will add more with profit stop just above average position, see if i can ride the bus

http://img38.imagefra.me/img/img38/1...nm_14af890.png
  • #10,300
  • Nov 30, 2009 9:08pm Nov 30, 2009 9:08pm
she move and i add more 80.03
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