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AUD/USD

  • #20,341
  • Mar 29, 2010 5:00pm Mar 29, 2010 5:00pm
Quoting Zeroh
No i dont play that pair, Greece I think there could be more problems and that cause risk aversion for the aud.

the more problems with Greece, the better for all the bears out there..
as much as technical analysis can help guide the movement of currencies, sentiments and psychology are a big play in the market!
  • #20,342
  • Mar 29, 2010 5:03pm Mar 29, 2010 5:03pm
I'M SHORT

TARGET 0.9105

WHAT ABOUT YOU GUYS?

I JUST DISLIKE HOW Lazy the AUD moves
  • #20,343
  • Mar 29, 2010 5:06pm Mar 29, 2010 5:06pm
Quoting kourtney
I'M SHORT

TARGET 0.9105

WHAT ABOUT YOU GUYS?

I JUST DISLIKE HOW Lazy the AUD moves

Agree! there will be some profit taking sooner or later before the week close.
  • #20,344
  • Mar 29, 2010 5:07pm Mar 29, 2010 5:07pm
Quoting kourtney
I'M SHORT

TARGET 0.9105

WHAT ABOUT YOU GUYS?

I JUST DISLIKE HOW Lazy the AUD moves

kourtney - what type of time frame do you see your target pan out?
  • #20,345
  • Mar 29, 2010 5:33pm Mar 29, 2010 5:33pm
Quoting stwk81
kourtney - what type of time frame do you see your target pan out?

hello every one
Have been losin pips on this pair
I shorted aud at .8980 yesterdaay
got stopped out short again .9150
stopped out again...looks like
it just wanna take all my money.

George C knowswhat I ve been doin since
last nite.

Today I better sit at the side line'
all the best guys
  • #20,346
  • Mar 29, 2010 5:46pm Mar 29, 2010 5:46pm
Quoting chinaman
hello every one
Have been losin pips on this pair
I shorted aud at .8980 yesterdaay
got stopped out short again .9150
stopped out again...looks like
it just wanna take all my money.

George C knowswhat I ve been doin since
last nite.

Today I better sit at the side line'
all the best guys
This surge caught quite a few traders off guard, so don't feel bad - if it's of any consolation, this kind of unexpected moves doesn't seem to happen too often.
  • #20,347
  • Mar 29, 2010 5:49pm Mar 29, 2010 5:49pm
Quoting George C
This surge caught quite a few traders off guard, so don't feel bad - if it's of any consolation, this kind of unexpected moves doesn't seem to happen too often.

Thanks
George C
nice to know people care.

Best wishes to all.
  • #20,348
  • Mar 29, 2010 5:52pm Mar 29, 2010 5:52pm
Quoting George C
This surge caught quite a few traders off guard, so don't feel bad - if it's of any consolation, this kind of unexpected moves doesn't seem to happen too often.
George, did you hold onto your shorts? Looks like my H4 is finally giving me what I've been expecting all day! It's all about the Timing!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #20,349
  • Mar 29, 2010 5:53pm Mar 29, 2010 5:53pm
Quoting chinaman
hello every one
Have been losin pips on this pair
I shorted aud at .8980 yesterdaay
got stopped out short again .9150
stopped out again...looks like
it just wanna take all my money.

George C knowswhat I ve been doin since
last nite.

Today I better sit at the side line'
all the best guys
are you gambling or what? if you open a transaction then you should have a real reason to believe. and if you believe it then you should hold what you believe. if you believe the trend will bearish try to believe it even if the trend goes backward. , try to think it just a temporary move before it goes down again.
  • #20,350
  • Mar 29, 2010 5:54pm Mar 29, 2010 5:54pm
Quoting MarcVUM
George, did you hold onto your shorts? Looks like my H4 is finally giving me what I've been expecting all day! It's all about the Timing!
Yep, I did - I made a deliberate effort to start the drawdown, well, down, reckoning that I set my stop losses and should now let the trade run its course - even with a soaring DD, so long as it is within the stoploss parameters I originally designed. I hate manually closing trades, because, more often than not, I end up cutting my winners short.

What about you?
  • #20,351
  • Mar 29, 2010 6:00pm Mar 29, 2010 6:00pm
Quoting chinaman
hello every one
Have been losin pips on this pair
I shorted aud at .8980 yesterdaay
got stopped out short again .9150
stopped out again...looks like
it just wanna take all my money.

George C knowswhat I ve been doin since
last nite.

Today I better sit at the side line'
all the best guys
Hey man,
Sorry to hear that. What do you use to look for setups and how do you analyze the market. If you give me an idea of how you trade and what you look for I can give you suggestions
  • #20,352
  • Mar 29, 2010 6:02pm Mar 29, 2010 6:02pm
Well, after staring at the charts pretty much 12 hours, it's time to call it a night. The 4H candle - albeit with a bullish body - is not too far from being a shooting star, and I'm generally somewhat optimistic on what will happen in the next 6 hours.

I can't say I'll get a good night's sleep over it, but I can lay off the coffee - and that's a start.

Good night everyone.
  • #20,353
  • Mar 29, 2010 6:04pm Mar 29, 2010 6:04pm
Quoting George C
Well, after staring at the charts pretty much 12 hours, it's time to call it a night. The 4H candle - albeit with a bullish body - is not too far from being a shooting star, and I'm generally somewhat optimistic on what will happen in the next 6 hours.

I can't say I'll get a good night's sleep over it, but I can lay off the coffee - and that's a start.

Good night everyone.

Sleep tight! Till Tomorrow...
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #20,354
  • Mar 29, 2010 6:06pm Mar 29, 2010 6:06pm
just because it goes out of the trend line a little bit, doesn't mean the trend has changed. i still think the aud/usd trend lines are valid, but that doesn't mean it's always gonna bounce off the tl to the pip, now if it went up another 100 pips i'd be worried. also, looking at cad, i do think aud is still down

aud/usd
Attached Image


usd/cad
Attached Image
  • #20,355
  • Mar 29, 2010 6:09pm Mar 29, 2010 6:09pm
Quoting yeri
are you gambling or what? if you open a transaction then you should have a real reason to believe. and if you believe it then you should hold what you believe. if you believe the trend will bearish try to believe it even if the trend goes backward. , try to think it just a temporary move before it goes down again.
That was what ive been doing....it stopped me out
but i believe its gonna go down thus i shorted again
thats how i ended up losing more.

so in your opinion aud up or down?

I aint joining Custer making his last stand
my mama says stop out today live to
trade another day.
  • #20,356
  • Mar 29, 2010 6:18pm Mar 29, 2010 6:18pm
So that all is not lost in your mind.

Make note of where you got stopped out.

Re-enter at the same price as it falls, today, tomorrow or next month. You can re-capture the loss now booked.

Good luck,
BR

Quoting chinaman
hello every one
Have been losin pips on this pair
I shorted aud at .8980 yesterdaay
got stopped out short again .9150
stopped out again...looks like
it just wanna take all my money.

George C knowswhat I ve been doin since
last nite.

Today I better sit at the side line'
all the best guys
  • #20,357
  • Mar 29, 2010 7:13pm Mar 29, 2010 7:13pm
Hi Geppy,
Not taking a shot at you, but I agree and disagree with a few of your items. First, I agree that stops are very important and don't trade without them.
I don't think that mental stops are efficient and feel that their are counter to the reason that we have electronic stops in place (to take out the mental aspect.)
I do agree that we should, when posting, give reasoning behind our trades and supporting charts or what have you. Also, when it comes to following the crowd, your statement
that you will lose 101% of your money when following the crowd is, I believe false. What if the crowd is right? I know this is a generalization, but when your sentiment is
supported by the crowd, it adds weight to your decisions. I believe that you should have your trading dicision set before seeking support of the crowd, but it is nice to know
that people share your opinion. Why else are you on this forum and why else would you have your own Thread? But yes, I do agree that trading decisions should not be made based solely
on FF posts. When you stated that you are a forex chartist and this is your strategy, I have to disagree. Being a chartist or a fundie is a system, not a strategy. We use the systems to build strategies.
For example. Buying when a S/R is crossed or on a bounce with a prespecified SL/TP is a strategy (simple). Saying that my strategy is to chartist, doesn't really make sense. Just like saying that
my strategy is fundie. Doesn't make sense either. Saying that IR is going to move this way, so my strategy in that situtation is such and such, would be a strategy based in a fundamental system.

Again, not taking a shot at you. Your posts are good but it seems that Chinaman is a new trader, you don't want to scare the shit out of him and you should probably be more clear.
Like this,

Hi Chinaman. Basing decisions solely on FF posts is probably not a good idea. You should probably have your decision already made up and just use FF for comparison and sentiment. When posting,
it would probably be best to show charts and supporting arguements so that others on the forum can help you and also, so they can understand the reasoning behind your trade decisions. Also, you
need to decide what weights you are going to put on Techincal and Fundamental variables. For me, I am a short/micro-term trader so I use mostly Technical Analysis to develop my strategies, but I use
basic Fundamental Analysis to help me develop my LT projections and also to ensure that I am on the right side of the LT trend.

It seems that you are new to trading FX. Here are some good websites to visit that could give you a better idea of FX:
WWW.BabyPips.com
etc...

Also, here are a few good books to freshen up on too:
Economics - Froyen
Regime Analysis - etc...

And lastly, you should probably start with a demo account and test your strategies and see if they work. You can also back test them as well which helps a lot too. Almost all FX FCMs offer
demo accounts, but here are the best I think:
FXPRO
FXCM
IBFX
etc...

If you have any more questions, shoot me an e-mail or post it on this thread and we will totally help you out.


We are here to help each other, so let's try not to scare people away that are genuinely interested in FX and seem to have gotten off on the wrong foot.


Quoting Geppyg
IMHO Learn how to trade ....I have just taken some time out to look at your posts...it is obvious you have just taken the plunge into trading....

You need a statergy before you start trading...
I am a Forex chartist...and that is my stratergy...
By making decisions based on the forums is ludicrous....

Stop playing with money....trade on demo....write a journal....this will help you in a lot of ways...

Good Luck
GeppyG
  • #20,358
  • Mar 29, 2010 7:16pm Mar 29, 2010 7:16pm
Quoting Saxon
Hi Chinaman. Basing decisions solely on FF posts is probably not a good idea. You should probably have your decision already made up and just use FF for comparison and sentiment.
I completely agree with this. You can cheat on math tests, but you'll never learn math, and end up copying someone's answers from someone with wrong answers. Better study and practice. Study groups aren't a bad idea, but you better have a good idea about the subject.
  • #20,359
  • Mar 29, 2010 7:30pm Mar 29, 2010 7:30pm
Quoting Geppyg
When you get the time...go through my posts it shows how different stratergies are developed from charting.......I am not going to get into a debate with you regarding...who I am what I know etc....

And there only a handful of traders ...on this thread that now how to trade so it can get very confusing for newbies....and I always have there best intrest at heart...I get almost 10-15 questions a day from Guys on this thread and take the time out to make them understand the problems with their trades....

Good Luck....But My Statment stand as...
no way that's possible. , or i'd just go opposite of all calls, and be a billionaire, just kidding, i agree
  • #20,360
  • Mar 29, 2010 7:31pm Mar 29, 2010 7:31pm
I have not been active since early 2007....I just forgotten how to attach the chart.Need a refreshing course....pls.
Shah For every action there is an equal and opposite reaction.....
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