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AUD/USD

  • #10,761
  • Dec 3, 2009 8:03pm Dec 3, 2009 8:03pm
I'm still holding shorts from .9280. I'm looking to see sell off in Lodon before NFP release
  • #10,762
  • Dec 3, 2009 8:11pm Dec 3, 2009 8:11pm
Quoting Daytrader74
David vs. Goliath. That must be what you are thinking when you enter the trading arena. You have some "hot indicator" that you found or coded and you are ready to take on the giant and show the trading world what you're made of. Actually, what happens is more like Bambi meets Godzilla!! You get crushed in a very short period of time.

Is it your fault? You read the books. You back tested your system. You traded on demo. Then after you felt enough confidence, you funded your account and entered your first trade. Why oh why does the market always...

I have posted this before but I'll say it again as I firmly believe it.

If you put 50 successful traders in a room, they will swear by 51 methods. Trading is very individualistic. Each individual will spot different opprotunities.

I've always said that good analysis is only the first step. Nothing is more frustrating than having good analysis but not executing successful trades. I've been there and I don't want to do it again. Experience is invaluable and humbling, which is a must. Keep on keeping on.
"Timing Is Everything. Really I Swear It Is"
  • #10,763
  • Dec 3, 2009 8:18pm Dec 3, 2009 8:18pm
Quoting amyc
Thanks Daytrader, I am sitting at around step 31-33, so that must mean there are some more humbling moments coming up for me soon. great
You welcome amyc, its all a learning experience the day we stop learning we may as well be dead!
  • #10,764
  • Dec 3, 2009 8:19pm Dec 3, 2009 8:19pm
Quoting TexasforEX
I have posted this before but I'll say it again as I firmly believe it.

If you put 50 successful traders in a room, they will swear by 51 methods. Trading is very individualistic. Each individual will spot different opprotunities.

I've always said that good analysis is only the first step. Nothing is more frustrating than having good analysis but not executing successful trades. I've been there and I don't want to do it again. Experience is invaluable and humbling, which is a must. Keep on keeping on.
I totally agree with you there.
  • #10,765
  • Dec 3, 2009 8:54pm Dec 3, 2009 8:54pm
Quoting TexasforEX
I have posted this before but I'll say it again as I firmly believe it.

If you put 50 successful traders in a room, they will swear by 51 methods. Trading is very individualistic. Each individual will spot different opprotunities.

I've always said that good analysis is only the first step. Nothing is more frustrating than having good analysis but not executing successful trades. I've been there and I don't want to do it again. Experience is invaluable and humbling, which is a must. Keep on keeping on.
Hesitation can certainly cost in this business.A particular problem or habit I have got into is to assume something I suppose it can also be called complacency.....how often do we think "oh it will never get there " or something similar ....it is hard to stamp out but getting there.

Tight range in the majors in Asian session so far...
  • #10,766
  • Dec 3, 2009 8:57pm Dec 3, 2009 8:57pm
Quoting siboy
Hesitation can certainly cost in this business.A particular problem or habit I have got into is to assume something I suppose it can also be called complacency.....how often do we think "oh it will never get there " or something similar ....it is hard to stamp out but getting there.

Tight range in the majors in Asian session so far...
We all have mental obstacles to overcome. It's amazing how they surface in this game.
"Timing Is Everything. Really I Swear It Is"
  • #10,767
  • Dec 3, 2009 9:03pm Dec 3, 2009 9:03pm
Quoting TexasforEX
We all have mental obstacles to overcome. It's amazing how they surface in this game.
I found that every obstacle to successful trading melted away over night the moment i started trading sizes appropriate to my account. When every trade is insignificant to your account, gain or loss, and you don't care what happens one way or the other trading becomes really easy.
  • #10,768
  • Dec 3, 2009 9:07pm Dec 3, 2009 9:07pm
Quoting TexasforEX
We all have mental obstacles to overcome. It's amazing how they surface in this game.
Oh how right you are there Texas......amongst other things stuck to my monitor I have in large letters AZ which communicates to me Assume Zilch....found it helped when I am goofing off.
  • #10,769
  • Dec 3, 2009 9:13pm Dec 3, 2009 9:13pm
All good thoughts here guys !!!

I agree with it all
Price is what you pay. Value is what you get
  • #10,770
  • Dec 3, 2009 9:40pm Dec 3, 2009 9:40pm
i wanted to show up a very importante indicator guys that we need to consider ,,, the s&p 500 closed yesterday in a masive decline ,, everytime it closes on negative like this its followed up with a risk aversion ,
thats very important thing to consider ,,
secondly with all the momentum it had the day before yesterday and today ,, after it went up with around 300 pip from 8950 , it hit the previous high , just like what the euro did and it sailed down with around 100 pip ,,, it needs big momentum to break this level and the only thing that can give it momentum is the payroll report we r expecting today
if it didnt catch momentum to break it then we will se another sail down to break the previous low
me myself , i think that on the short term , the upside is limited and with the s&p on negative terrain yesterday , if it closes again on negative today it might test the down channel at 1085 and that will drive the risk down
things really not clear now but at the end of this day i ll have a clear view of the market next week
  • #10,771
  • Dec 3, 2009 9:58pm Dec 3, 2009 9:58pm
here is my trade
Attached Image (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 13 KB
Pation is the Holy Grail
  • #10,772
  • Dec 3, 2009 10:10pm Dec 3, 2009 10:10pm
Quoting Jesus4748
i wanted to show up a very importante indicator guys that we need to consider ,,, the s&p 500 closed yesterday in a masive decline ,, everytime it closes on negative like this its followed up with a risk aversion ,
thats very important thing to consider ,,
secondly with all the momentum it had the day before yesterday and today ,, after it went up with around 300 pip from 8950 , it hit the previous high , just like what the euro did and it sailed down with around 100 pip ,,, it needs big momentum to break this level and the only thing that can...
Looking at the S&P i think a down night is almost guaranteed, barring a good nfp number, if it closed down around the 1083-1078 mark then i think this is bullish for next week. I am expecting to see 1078 touched in this down leg. Only if we close below that on Friday will i turn bearish.
  • #10,773
  • Dec 3, 2009 10:19pm Dec 3, 2009 10:19pm
  •  G_Man
  • | Joined Aug 2009 | Status: getting ready for the next Battle | 781 Posts
Gold is down and G_Man is Happy again ...

More action to come ...
  • #10,774
  • Dec 3, 2009 10:19pm Dec 3, 2009 10:19pm
Quoting amyc
Looking at the S&P i think a down night is almost guaranteed, barring a good nfp number, if it closed down around the 1083-1078 mark then i think this is bullish for next week. I am expecting to see 1078 touched in this down leg. Only if we close below that on Friday will i turn bearish.
Also gold has been threatening sub 1200 all session currently 1201.90....ASX S/P 200 closed down 72.40.....as per normal looks like we are at the mercy of NFP..
  • #10,775
  • Dec 3, 2009 10:22pm Dec 3, 2009 10:22pm
Be Careful !
A Retracement Is Stabilizing , We May (very Probabely) See 0.9350 Before Great Fall !
  • #10,776
  • Dec 3, 2009 10:24pm Dec 3, 2009 10:24pm
done 5 short trades between 9235 and 9226. Will do that all day long again. I hope it stays around here. Very predictable.... try it in the next cycle.
Find a job that you love and you dont have to work again in your life.
  • #10,777
  • Dec 3, 2009 10:28pm Dec 3, 2009 10:28pm
Quoting tradoholic
done 5 short trades between 9235 and 9226. Will do that all day long again. I hope it stays around here. Very predictable.... try it in the next cycle.
Tradoholic what is the spread quoted by CMC on the Au/Us ?
  • #10,778
  • Dec 3, 2009 10:32pm Dec 3, 2009 10:32pm
Quoting siboy
Tradoholic what is the spread quoted by CMC on the Au/Us ?
2 pips
Find a job that you love and you dont have to work again in your life.
  • #10,779
  • Dec 3, 2009 10:33pm Dec 3, 2009 10:33pm
OK thank you for that....mine is 3 pips.
  • #10,780
  • Dec 3, 2009 10:36pm Dec 3, 2009 10:36pm
Quoting siboy
OK thank you for that....mine is 3 pips.
Good morning/afternoon/evening
...mine is 5 pips - probably it's a time to look for a new broker
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