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  • #12,981
  • Jan 11, 2010 8:04am Jan 11, 2010 8:04am
Quoting Jesus4748
trade for fun
lol
i look at s&p 500 more , not dow
but next time try to reply in a decent way cause i trade before u even get born
Thank you very much for you reply, I am happy that you started trading before I was born to this retrospect good luck for the coming year.

I wish you the best of success in the year 2010.

Good Luck
GeppyG
Let Price determine your future!
  • #12,982
  • Jan 11, 2010 8:17am Jan 11, 2010 8:17am
Quoting puks
Hey mate,

Thanks and I think you're right. AUD is itching to go higher but I am only aiming a quick 10-15 pips. TP at .9300 as I am stuck on shorts from Friday evening so need to clear them at .9300 and then I will be out as market is ridiculously slow and boring.

I, unfortunately, think AUD will go and test higher .9450-9500 in a week or two.
In this case if you are scalping then take the following into consideration:

I consider the art of scalping to be divided into three different trades and a live example of this is as follows:

Three Trades very simple
A. Excellent Perfect Trade:
Also known as the First time touch in my business. With some of my funds I tend to set up all these orders with TP and SL in place. I had a short with just a 10 pip TP at 317 -307. and 9/10 these trades will come through.
( Remember these are first touch trades meaning only trade on the first touch of 317 as an example)

B.Average Trade:Where you see the price going to the touch the important price zone the 2nd time and you try and scalp it.(IMHO--Never trade it)

coor Trade:Where no thought of entry + I think so without out any Price action analysis is done.

All Trades have to be plotted on a chart and you should have 100% reason to take a trade....

I see a lot of traders on FF taking trades without any logical reason.

What I am trying to say is almost all trades should fit into A. what I like about your quote is I am only aiming for 10-15 pips and you should stick withit.

I have received you Pm .Due to Year ending and Trade accounts balancing at the beggining of the year I did not have much time to reply.

Will Try and email you during the weekend.

Good Luck and have a Wonderful Trading Year

GeppyG
Let Price determine your future!
  • #12,983
  • Jan 11, 2010 8:57am Jan 11, 2010 8:57am
Good morning, it's nice to know Aud/usd is in the exact same place as 7 hours ago.
  • #12,984
  • Jan 11, 2010 9:00am Jan 11, 2010 9:00am
Quoting Geppyg
In this case if you are scalping then take the following into consideration:

I consider the art of scalping to be divided into three different trades and a live example of this is as follows:

Three Trades very simple
A. Excellent Perfect Trade:
Also known as the First time touch in my business. With some of my funds I tend to set up all these orders with TP and SL in place. I had a short with just a 10 pip TP at 317 -307. and 9/10 these trades will come through.
( Remember these are first touch trades meaning only trade on the first touch...
hey mate,

I cleared my shorts. I had TP of .9295 and it got hit while I went to bed. Just woke up to see them cleared. now I am out.

I will send you a detail pm tomorrow.

thanks once again and have a great trading year.
  • #12,985
  • Jan 11, 2010 9:10am Jan 11, 2010 9:10am
Quoting puks
You're right but again this could be a blip on the radar and a single piece of bad data amongst the list of other improving data. If retail sales are higher, as widely expected on the back of solid china exports, the story will be reverse in space of just a week.

the interesting thing is, if EUR and AUD dont make new highs on the back of this good data then I think it would be a great idea to short / start building shorts with eventual target of 85-88 cents as CBA has suggested to its clients in the note today.
AUD will male butterfly pattern at 4 hr chart
  • #12,986
  • Jan 11, 2010 10:15am Jan 11, 2010 10:15am
Quoting puks

the interesting thing is, if EUR and AUD dont make new highs on the back of this good data then I think it would be a great idea to short / start building shorts with eventual target of 85-88 cents as CBA has suggested to its clients in the note today.
where can i read what CBA suggested

[edit] I thought you were talking about RBA
  • #12,987
  • Jan 11, 2010 1:30pm Jan 11, 2010 1:30pm
Im going get my fingers sticky and buy GBP/AUD at 1.73 for a long-term position.
Still short AUD/USD for a larger position.
  • #12,988
  • Jan 11, 2010 3:09pm Jan 11, 2010 3:09pm
Oh my I went to bed then woke up to find the aussie still in the same place !! am I dreaming or is this real ? maybe I'm still sleeping ?!?
  • #12,989
  • Jan 11, 2010 3:22pm Jan 11, 2010 3:22pm
Quoting Clouds
where can i read what CBA suggested

[edit] I thought you were talking about RBA
I indeed meant CBA - Comm Bank of Aust.
  • #12,990
  • Jan 11, 2010 3:46pm Jan 11, 2010 3:46pm
Quoting Daytrader74
Oh my I went to bed then woke up to find the aussie still in the same place !! am I dreaming or is this real ? maybe I'm still sleeping ?!?
This is normal behaviour for the aud when it is in this situation. When it has reached the weekly highs and monthly highs it almost never reverses on the same day. The earliest would be today (Tuesday) but sometimes it can take 3-4 days to get going, the longer it takes the better the move usually.

That it didn't go up during NY session plus the euro bounced off monthly resistance at 1.4560 and the dollar is still well supported I think adds more weight to shorts over the next few days. Above 9372 and that view will change.
Attached Image (click to enlarge)
Click to Enlarge Name: aud.GIF Size: 17 KB
  • #12,991
  • Jan 11, 2010 5:25pm Jan 11, 2010 5:25pm
AUD/USD: Opens Asia Below 0.9300 As Alcoa Inspires Late Slip Sydney, January 12: The AUD/USD opens the Asian session around 0.9300 after slipping from 0.9315/20 late in the US session when Alcoa shares fell over 5% in the after-hours following their earnings report. While Alcoa"s revenue beat estimates - higher operating costs disappointed investors who bought Alcoa shares ahead of the report. The AUD/USD is set to open the Asian session at the price it gapped to at the open yesterday after good selling interest around the December 3 trend high at 0.9325 discouraged attempts higher. AUD bulls are also a bit disappointed by the mixed performance of commodities following the unambiguously strong China trade data that was released on Sunday. Fellow commodity currency the CAD actually lost ground across the board since Friday"s close. The AUD/USD is still getting support from elevated investor risk appetite - as evidenced by the fall in the VIX index - but the reaction to the Alcoa results might prove to be a minor setback.
The importance of the 0.9325 level as key resistance has been enhanced by the price action yesterday while hourly support has formed around 0.9285. A fall below 0.9275 could see some gap filling towards 0.9245.
  • #12,992
  • Jan 11, 2010 5:25pm Jan 11, 2010 5:25pm
AUDUSD BULLISH Violation of 0.9323 exposes the 0.9406 trend high. Support lies at 0.9124 low.
  • #12,993
  • Jan 11, 2010 5:26pm Jan 11, 2010 5:26pm
AUD
AUD traded higher supported by strong economic data from Australia and China, a surge in metals prices and
firmer Asian equity market trade. Australia reported that ANZ December jobs ads rose by 6%. The strong job ads
report will revive RBA rate hike speculation and bodes well for this week’s release of Australia’s unemployment
report. China's exports rose a record 17.7%. The rise in China's exports fueled demand for Asian equities and
optimism about the global recovery. The strong Chinese data may also encourage China to hike interest rates.
Last week Australia reported strong retail and vehicle sales, improvement in its trade deficit and rising building
approvals. These reports suggest that the Australian domestic economy has weathered recent RBA rate hikes
and puts a February RBA rate hike back on the radar screen. At the end of the AUD came under significant
pressure partly due to diminished speculation that the RBA would hike rates in February. Strong Australian
economic data encourages speculation that the RBA may hike rates in February. Financial futures are pricing the
odds of a February RBA rate hike at 50/50. Bloomberg reports that the AUD is expected to trade at parity with the
USD in 2010 reflecting improvement in the global economy and rising Australian interest rates. Focus turns to this
week's release of Australian employment data.
This week's Australian calendar includes the January 11th release of ANZ job ads expected at 4% compared to
5.2% last month. On January 12th November housing finance plan would be released expected at 2% compared
to -1.5% last month. On January 14th December unemployment will be released the unemployment rate is
expected to fall by 0.1% to 5.6% from 5.7% with employment growth at 20k s compared to 31.2k is last month.
  • #12,994
  • Jan 11, 2010 6:31pm Jan 11, 2010 6:31pm
Wow -5.6%
  • #12,995
  • Jan 11, 2010 6:34pm Jan 11, 2010 6:34pm
Quoting Clouds
Wow -5.6%
Hi Clouds and Daytrader

where do you think this will end up
  • #12,996
  • Jan 11, 2010 6:35pm Jan 11, 2010 6:35pm
Shake that money tree
  • #12,997
  • Jan 11, 2010 6:36pm Jan 11, 2010 6:36pm
Quoting shoeysfish
Hi Clouds and Daytrader

where do you think this will end up
where what will end up?
  • #12,998
  • Jan 11, 2010 6:36pm Jan 11, 2010 6:36pm
Quoting shoeysfish
Hi Clouds and Daytrader

where do you think this will end up
I don't know. I shorted at .9310 and won't be taking any new positions or closing my position until next week. I'm done for this week. Just watching now.
  • #12,999
  • Jan 11, 2010 6:37pm Jan 11, 2010 6:37pm
Quoting Daytrader74
where what will end up?
Hey Daytrader,

How you going?

The AUD with the house news

Do you think it will hit support at what you stated in prev post??

cheers
  • #13,000
  • Jan 11, 2010 6:39pm Jan 11, 2010 6:39pm
Quoting Clouds
I don't know. I shorted at .9310 and won't be taking any new positions or closing my position until next week. I'm done for this week. Just watching now.
cheers Clouds,

I am quite new at this, but that house news looks not real good, i shorted from 0.9300 and hoping that it will go down to Daytraders support quote in prev message.

cheers
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