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AUD/USD

  • #14,061
  • Jan 20, 2010 8:11am Jan 20, 2010 8:11am
PUKS,

I understand your point of view ...
Remeber the one touch rule..Yesterday we already saw that buyers came in at that level but we did not sustain the buying hence we are where we are today.
Today it was 2nd touch buddy which is a NO NO NO...Never go shortlong on the 2nd touch of a support point as there is no guarantee and that too if it touches it the very next day...

Also your entry at 9120 is what I like to call a perfect entry... we have orders along all these as these are our traps....

Good Luck
Hope you have a good day.
Let Price determine your future!
  • #14,062
  • Jan 20, 2010 8:18am Jan 20, 2010 8:18am
I have to admit, I completely forgot the one touch rule and I am taking the blame on me.

its my mistake. a bad trade/set up due to ignorance on my part.

Lets hope I can come out with tiny profit after scaling in at .9120.



Quoting Geppyg
PUKS,

I understand your point of view ...
Remeber the one touch rule..Yesterday we already saw that buyers came in at that level but...
  • #14,063
  • Jan 20, 2010 8:21am Jan 20, 2010 8:21am
Dear Fellow Traders,

Indeed the aud is hovering above the 0.9120 level.
I got a gut feeling that the big boys are waiting for us small timers
to buy in than they are gonna let itbreak the 0.9120 support.

I like your theory on the 2nd touch.
I guess its like uncertainty in the mkt

cheers mate
i stay aside for now
when in doubt stay out
  • #14,064
  • Jan 20, 2010 8:32am Jan 20, 2010 8:32am
Quoting Geppyg
Patience , this is impossible,
He will never make it in the trading industry by such exposure, he might as well adopt martingale ...

Tradeholic I challenge you if you can make 100% a week for 3 months consistently I will pay you £1000 there you go...just post your trades in a live journal...with screen shots of you ac...

Forget all this crap...

PUKS why the entry at 160 please could you explain this to me if you dont mind...???
I would love to take you up on this, but as you said, I will forget all this crap. One thing you are missing is the Gold factor. One of the main reasons for the Aussie to get where it is was the appreciation in Gold and other metals. Gold seems to be loosing its shine, and if you chart the ups and downs of the two pairs against USD you will see the influence. A while ago, we were talking about formation of BARR in the yearly charts.
The reversal of the upward trend would take us down to .86, possibly a touch lower. This matches with the astrological charts that point to gold reaching 900 and below in the next 8 weeks or so. Also the other astrological chart that points to reversal of DOW. So, combining these I would dare say that Aussie has started its downward journey, yes there would be some profit taking from time to time, but in general its on its way down. My shorts will not have SL, but the longs that I take will. Thats my strategy.
Find a job that you love and you dont have to work again in your life.
  • #14,065
  • Jan 20, 2010 8:34am Jan 20, 2010 8:34am
Quoting john2301
Dear Fellow Traders,

Indeed the aud is hovering above the 0.9120 level.
I got a gut feeling that the big boys are waiting for us small timers
to buy in than they are gonna let itbreak the 0.9120 support.

I like your theory on the 2nd touch.
I guess its like uncertainty in the mkt

cheers mate
i stay aside for now
when in doubt stay out
Yeah, I got myself trapped a few times too, always learning it the hard way.
I'm thinking the China ann tomorrow might bring some boost to Aud, but don't think that will last for long. Looking at shorting again around 9170 if retracement happens.
  • #14,066
  • Jan 20, 2010 8:39am Jan 20, 2010 8:39am
I just did a quick google to see if I could find some information about Hedge Fund returns and I stumbled across this dated pdf file.

Here are the returns of various hedge funds for 2005 and 2006. The best return for 2006 for a hedge fund was 42.04% - that's for a year, not a day.

Just to put things into perspective for the newer traders. Just because you're not making 20% per day, don't be overly concerned about it

Attached Image (click to enlarge)
Click to Enlarge Name: Hedge Fund Returns.png Size: 141 KB
Nothing worth having is easy.
  • #14,067
  • Jan 20, 2010 8:41am Jan 20, 2010 8:41am
Quoting tradoholic
I would love to take you up on this, but as you said, I will forget all this crap. One thing you are missing is the Gold factor. One of the main reasons for the Aussie to get where it is was the appreciation in Gold and other metals. Gold seems to be loosing its shine, and if you chart the ups and downs of the two pairs against USD you will see the influence. A while ago, we were talking about formation of BARR in the yearly charts.
The reversal of the upward trend would take us down to .86, possibly a touch lower. This matches with the astrological...
Dude stop this crap about 100% a day and 100% a week come on dude you know you are lacking the basic fundamentals of trading ie money management. I am not here to compete with you but I always guide all the newbies in the right direction and you are a danger in all honesty to newbies because...

A. No money mangement
B. You Trade based on Astrology
C. Even if you dont trade on astrology cant see calls mapped out on charts...

Good Luck cant post much more.. as this is getting very tiideous

Back to the trades...
Let Price determine your future!
  • #14,068
  • Jan 20, 2010 8:43am Jan 20, 2010 8:43am
Quoting Patience
I just did a quick google to see if I could find some information about Hedge Fund returns and I stumbled across this dated pdf file.

Here are the returns of various hedge funds for 2005 and 2006. The best return for 2006 for a hedge fund was 42.04% - that's for a year, not a day.

Just to put things into perspective for the newer traders. Just because you're not making 20% per day, don't be overly concerned about it

Attachment

I said the same to him yesterday .....He just does not get the point....

I made my books are there to show..42% Last year and I am telling you the last 6 months of trading I have had to break my back as Guys on the GU|GJ|EU Thread know...

I get irritated to be honest cos these guys are misleading new traders into the false dream of trading....

My god anytrader would laugh if you said you risk 100% of your equity per trade....
Let Price determine your future!
  • #14,069
  • Jan 20, 2010 8:49am Jan 20, 2010 8:49am
Hedge funds make a lot of money. They are smarter with their funds than just saying, I'm long and I'm short, doesn't matter. They pick a side, and invest and wait. It's easy to lose capital over trading, trying to catch each turn.
  • #14,070
  • Jan 20, 2010 9:16am Jan 20, 2010 9:16am
I somehow liked the old AUD thread more. I get too distracted and even sometimes have a headache sieving thru all this stuff. No wonder I find it hard to make a green pip. Anyone feeling smart or experienced, might want to share their stats on myfxbook. You have the option to hide your balances and figures. Entries and exits only. Hard facts and no bollox. Equity curves never lie.
Good trading all, I can't contribute anything but a cool song.
forget about tomorrow, just steal away into the night
  • #14,071
  • Jan 20, 2010 9:17am Jan 20, 2010 9:17am
Quoting Geppyg
I said the same to him yesterday .....He just does not get the point....

I made my books are there to show..42% Last year and I am telling you the last 6 months of trading I have had to break my back as Guys on the GU|GJ|EU Thread know...

I get irritated to be honest cos these guys are misleading new traders into the false dream of trading....

My god anytrader would laugh if you said you risk 100% of your equity per trade....
Listen buddy, I hate to drag this on and on, but cant let you have the last word either. when someone asked me yesterday about my account this is what I said" On certain set ups I risk in excess of 80% of my equity, with tight SL on half the amount. Bearing in mind that I get 99.5% leverage, this gives me a lot to deal with. On these set ups my rate of success in in excess of 90%."
I clear my account everyweek, leaving an amount that I can afford to loose in following week. Believe me I have had my share of losses before, but now I make it a point to withdraw money from my account every week. I do not risk my total equity in every trade....... So far this year I have not had to re-charge my account and I hope to continue on this way.
And to let you have peace of mind:
1. I will not mention about my trade size or percentages gained or lost
2. I will not mention astrology
3. I will try and post charts when I can. As I mentioned before my charts are loaded in a different computer, and I always log in from my notebook.
Find a job that you love and you dont have to work again in your life.
  • #14,072
  • Jan 20, 2010 9:31am Jan 20, 2010 9:31am
Not looking too good for longs. We are obviously below daily and weekly pivots. S3 is at 0.9081 and 200 SMA at 0.9088 (4 hour chart) with monthly pivot 0.9010. Average weekly range for last year was around 300 pips. We've done 176 pips so far this week (high at 0.9279 and low at 0.9103). Last week's range was only 158 pips.

Attached Image (click to enlarge)
Click to Enlarge Name: aud-4hour.gif Size: 27 KB
Nothing worth having is easy.
  • #14,073
  • Jan 20, 2010 9:34am Jan 20, 2010 9:34am
Quoting Patience
Not looking too good for longs. We are obviously below daily and weekly pivots. S3 is at 0.9081 and 200 SMA at 0.9088 with monthly pivot 0.9010. Average weekly range for last year was around 300 pips. We've done 176 pips so far this week (high at 0.9279 and low at 0.9103). Last week's range was only 158 pips.

Attachment
Gold is still droping. Thats why Aud is droping as well. Its a new low for gold since I think october or so
Find a job that you love and you dont have to work again in your life.
  • #14,074
  • Jan 20, 2010 9:40am Jan 20, 2010 9:40am
Quoting tradoholic
Gold is still droping. Thats why Aud is droping as well. Its a new low for gold since I think october or so
No, Aud is dropping, that's why Gold is dropping.
  • #14,075
  • Jan 20, 2010 9:41am Jan 20, 2010 9:41am
Quoting tradoholic
Gold is still droping. Thats why Aud is droping as well. Its a new low for gold since I think october or so
Yep, gold is taking a right bath. This is gold (line) and AU (candlesticks) daily chart. Although I always keep my eye on gold, it's good to remember that they don't always move in sync (as circled). The US$ is rising from the ashes. Let's see how far she wants to go this time.

Attached Image (click to enlarge)
Click to Enlarge Name: gold and au daily.jpg Size: 159 KB
Nothing worth having is easy.
  • #14,076
  • Jan 20, 2010 9:49am Jan 20, 2010 9:49am
nzd/usd looks exhausted from selling
  • #14,077
  • Jan 20, 2010 9:51am Jan 20, 2010 9:51am
Quoting Clouds
No, Aud is dropping, that's why Gold is dropping.
I think it could be that the chinese decision to tighten lending sparked a sell off in the equity market which inturn affected Gold and AUD ( being a commodity currency).


Jan. 20 (Bloomberg) -- The yen and dollar rose and stocks retreated on concern China’s moves to curb bank lending will slow the global economic recovery. Greek bonds slumped, driving the two-year yield to its highest level in more than a year, on speculation the government may struggle to fund the biggest deficit in the European Union.
Find a job that you love and you dont have to work again in your life.
  • #14,078
  • Jan 20, 2010 10:37am Jan 20, 2010 10:37am
Hello all
Wish all making green ++
Just view:
Don't try to pick up the bottom we are in down trend
http://www.forexfactory.com/showthre...=1#post3383528
  • #14,079
  • Jan 20, 2010 10:55am Jan 20, 2010 10:55am
Quoting tradoholic
I think it could be that the chinese decision to tighten lending sparked a sell off in the equity market which inturn affected Gold and AUD ( being a commodity currency).


Jan. 20 (Bloomberg) -- The yen and dollar rose and stocks retreated on concern China’s moves to curb bank lending will slow the global economic recovery. Greek bonds slumped, driving the two-year yield to its highest level in more than a year, on speculation the government may struggle to fund the biggest deficit in the European Union.
did we hit the bottom at 9080???

I had my tp at 9080 thinking of going long
  • #14,080
  • Jan 20, 2010 11:09am Jan 20, 2010 11:09am
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting kilalik
did we hit the bottom at 9080???

I had my tp at 9080 thinking of going long
Had my TP @ 9085. Waiting for some retrace now... But I will rather look for another nice entry point for another short. yes I know I am a chicken
"Blue Horseshoe loves Anacott Steel!"
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