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AUD/USD

  • #24,041
  • Oct 6, 2010 5:35pm Oct 6, 2010 5:35pm
What to do... jump on board or wait for pullback.
  • #24,042
  • Oct 6, 2010 5:38pm Oct 6, 2010 5:38pm
Quoting aussietrader
What to do... jump on board or wait for pullback.

money management. i would say buy, but no one would be able to tell you how much to buy. if you succeed to manage the position well, you will profit out of the position. if you max your leverage, i would guarantee a loss, especially going into nfp on friday
  • #24,043
  • Oct 6, 2010 5:42pm Oct 6, 2010 5:42pm
usualyl best to stay out once the main jump has happened, cost me a ton of money to learn that lesson.
  • #24,044
  • Oct 6, 2010 5:42pm Oct 6, 2010 5:42pm
  •  damo
  • | Joined Aug 2010 | Status: Chart Pattern & Trend Trader | 217 Posts
I am shocked at how many bozo's on this forum are still calling shorts. These guys must be either brave or broke. Since Tuesday the Aussie has rallied on 300 pips, and all I've heard were shorts.

Price to watch is 9852 - all time high.

Don't mess with the trend.
Trade what you see, not what you think.
  • #24,045
  • Oct 6, 2010 5:47pm Oct 6, 2010 5:47pm
Quoting Catch-22
usualyl best to stay out once the main jump has happened, cost me a ton of money to learn that lesson.

So have I.
That being said, I have a limit buy at .9800, but it may retrace further through that number before resuming its climb.
  • #24,046
  • Oct 6, 2010 5:48pm Oct 6, 2010 5:48pm
awh man - historic highs
  • #24,047
  • Oct 6, 2010 5:55pm Oct 6, 2010 5:55pm
  •  damo
  • | Joined Aug 2010 | Status: Chart Pattern & Trend Trader | 217 Posts
To 9852 and beyond !!!!!!!!!!!!!!!!!

But don't look at me. I must be a dumbass...my post count is so low (as I was told).

My very very lose prediction will come true. (OMG)
Trade what you see, not what you think.
  • #24,048
  • Oct 6, 2010 5:56pm Oct 6, 2010 5:56pm
wooowww..thats crazy ...

0.9849 is a historical ???

i think do not pass easy the historical level and retrace to 0.9780 anyone agree ?
  • #24,049
  • Oct 6, 2010 5:57pm Oct 6, 2010 5:57pm
I was trading this employment change news and got 40 pips on AUDUSD and 45 on EURAUD in two minutes, hope you guys didn't miss it.
  • #24,050
  • Oct 6, 2010 5:57pm Oct 6, 2010 5:57pm
Quoting damo
I am shocked at how many bozo's on this forum are still calling shorts. These guys must be either brave or broke. Since Tuesday the Aussie has rallied on 300 pips, and all I've heard were shorts.

Price to watch is 9852 - all time high.

Don't mess with the trend.
dumb and broke. i made one mistake on an aud/usd trade that could have costed me 50 pips AT MOST...but now i'm facing 500. all those trading psychology books just went right out the window. no point in following the rules if you don't follow it ALL THE TIME. this is my first time i strayed from my rules and shot up on hope-ium and now i'm paying the price!!

edit..one mistake led to a shitload
  • #24,051
  • Oct 6, 2010 6:01pm Oct 6, 2010 6:01pm
  •  damo
  • | Joined Aug 2010 | Status: Chart Pattern & Trend Trader | 217 Posts
Quoting Heliosdz
I was trading this employment change news and got 40 pips on AUDUSD and 45 on EURAUD in two minutes, hope you guys didn't miss it.
You got this trade because you traded with the trend. Even with news breakout...the breakout in the direction of the trend (e.g. good news in an established uptrend) will always be profitable.

Good work.
Trade what you see, not what you think.
  • #24,052
  • Oct 6, 2010 6:01pm Oct 6, 2010 6:01pm
I think what most people think and it really is a kind of.....paradigm shift is. There is NO top or bottom. You buy when it's going up and you sell when it's going down. Now if your buys start losing, you know that it's going down....and you sell....and keep doing it. Lesson 2: You, or anyone else for that matter, knows where the market is going. We can only hope to follow it and maybe make some money along the way.
  • #24,053
  • Oct 6, 2010 6:03pm Oct 6, 2010 6:03pm
Quoting Heliosdz
I was trading this employment change news and got 40 pips on AUDUSD and 45 on EURAUD in two minutes, hope you guys didn't miss it.
Well done.
I took 110 on Tuesdays move from .96, but have missed other limit entries since then. I'll wait for a retrace.
  • #24,054
  • Oct 6, 2010 6:07pm Oct 6, 2010 6:07pm
Quoting damo
To 9852 and beyond !!!!!!!!!!!!!!!!!

But don't look at me. I must be a dumbass...my post count is so low (as I was told).

My very very lose prediction will come true. (OMG)
Combined Manufacturing and Services exports are bigger than Fuel and Minerals Exports. With the strength we are seeing some exports will be crying while the commodity exports are enjoying strong commodity pricing coupled with strong currency (not much effect).

Not the best setup for exporters. I can only imagine that a short play is in the cards sooner rather than later. Otherwise the greenback will be worthless by the year end at this rate.
  • #24,055
  • Oct 6, 2010 6:07pm Oct 6, 2010 6:07pm
I thought I'd try scalping the retrace. I set my S/L to 0.9845, and still got taken out even though the high so far was 0.9843.

I should have set it above the 0.9849 High of July 2008.


Hmmmn.
  • #24,056
  • Oct 6, 2010 6:10pm Oct 6, 2010 6:10pm
Quoting aussietrader
I thought I'd try scalping the retrace. I set my S/L to 0.9845, and still got taken out even though the high so far was 0.9843.

I should have set it above the 0.9849 High of July 2008.


Hmmmn.

Me too... high on my chart is 98442 but stopped me out at 9845
  • #24,057
  • Oct 6, 2010 6:14pm Oct 6, 2010 6:14pm
Quoting aussietrader
I thought I'd try scalping the retrace. I set my S/L to 0.9845, and still got taken out even though the high so far was 0.9843.

I should have set it above the 0.9849 High of July 2008.


Hmmmn.
Hi mate
My platform says the high was 98445. Perhaps you could try to go long on the end of the current retrace? We should see the high taken out during the US session tonight
  • #24,058
  • Oct 6, 2010 6:16pm Oct 6, 2010 6:16pm
  •  damo
  • | Joined Aug 2010 | Status: Chart Pattern & Trend Trader | 217 Posts
Quoting latropsudoxe
dumb and broke. i made one mistake on an aud/usd trade that could have costed me 50 pips AT MOST...but now i'm facing 500. all those trading psychology books just went right out the window. no point in following the rules if you don't follow it ALL THE TIME. this is my first time i strayed from my rules and shot up on hope-ium and now i'm paying the price!!

edit..one mistake led to a shitload
If you've lasted this far then don't stress to much. I am almost telling the same story as yourself. I broke my rules listening to the "experienced" calls on this forum, this included those in the EUR and GBP who were doing the same thing.

The dollar won't go parity. Its psychological. I believe this is it. It's shy of its all time high, it's Thursday and after a super strong week profit taking should set in on Thursday avo or Friday. Once this happens, then its shorting time.
Trade what you see, not what you think.
  • #24,059
  • Oct 6, 2010 6:34pm Oct 6, 2010 6:34pm
  •  damo
  • | Joined Aug 2010 | Status: Chart Pattern & Trend Trader | 217 Posts
Ouch, is that a flagish formation forming up on the 5min?

If it is, this may be the big one.
Trade what you see, not what you think.
  • #24,060
  • Oct 6, 2010 6:46pm Oct 6, 2010 6:46pm
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