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  • #28,941
  • Mar 23, 2011 6:33am Mar 23, 2011 6:33am
Quoting ely
Hi Pham...i have already posted a daily chart.
Don't trade off the minute charts, unless i'm pipping.

Accumulating at the moment, after getting out recently...so am hoping it gives a nice op for topping up, before the drips begin

I enjoy the collection at circa 9700/9800...but overall like the 9200 area.
Sanks
IMHO the recent dip to 0.97 was a knee jerk reaction to the earthquake/tsunami/nuclear scare in Japan. Although AUDUSD looks toppish now, I'm not sure if it will retrace fully back to 0.97 from here. As Japan starts rebuilding they will need loads of material, and AUD being a commodities backed currency may experience another rally.

Just sharing my own thoughts here, not an inducement to buy or sell the currency..
  • #28,942
  • Mar 23, 2011 7:29am Mar 23, 2011 7:29am
Quoting ely
Short 1.0049
Hi ely

Just out of curious ~ can help to show something e.g. picture of proof that you have short @1.0049?

No offence.

Some Updates:
Potential break down to 1.0085.
If it did break down - it will go down lower.
Support Resistance seen @ 1.0060.

Good luck to all traders!
  • #28,943
  • Edited 11:07am Mar 23, 2011 8:12am | Edited 11:07am
Quoting evelee8
Hi ely

Just out of curious ~ can help to show something e.g. picture of proof that you have short @1.0049?

No offence.

Some Updates:
Potential break down to 1.0085.
If it did break down - it will go down lower.
Support Resistance seen @ 1.0060.

Good luck to all traders!


Hi, don't know why you want proof..but two batches of shorts below from 1.0006 and 1.0060 ..and i closed twice this morning, on the ones i opened at 1.0097. Also sometimes i close knowing it will go higher...hence closed 1.0049 and re opened 1.0060....hence when i get a better price, i don't re post

Position size and account management is key, as i have other positions open in todays bubbled environment...even though i am greedy at the moment at these levels with two heavy batches..comon Mrs Market, give me the money
  • #28,944
  • Mar 23, 2011 9:16am Mar 23, 2011 9:16am
wow ely.
You really have the guts.
No offence..~

Good luck ! =X

Another Updates:
As mentioned in my previous comment - it is going down since it is breaking the 1.0085 level.
Let's see whether it will hit 1.0060 again.
Graph shown that it is strongly bearish. ~

It is like I am doing two job(s) now ~ ha ha ha.
Anyone want to hire me ehh? =P
  • #28,945
  • Mar 23, 2011 9:21am Mar 23, 2011 9:21am
Quoting evelee8
wow ely.
You really have the guts.
No offence..~
Has guts or a serious lack of market sense?

Really, this kinda of trading can be attempted on AUDUSD, but where would this style land you if you traded the majors?

**Flush**
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #28,946
  • Mar 23, 2011 9:29am Mar 23, 2011 9:29am
Quoting Magix
Has guts or a serious lack of market sense?

Really, this kinda of trading can be attempted on AUDUSD, but where would this style land you if you traded the majors?

**Flush**
That's why i said no offence first to ely...since i keep seeing shorting pair even market sign shown none for shorting in 1 hour trend..

But - just now did have a quick shorting opportunities (15 mins trend) at 1.0015 to 1.0085 then TP at 1.0085 or 1.0075 along the way it breaks down to lower then bounce back.
  • #28,947
  • Mar 23, 2011 9:43am Mar 23, 2011 9:43am
Quoting evelee8
That's why i said no offence first to ely...since i keep seeing shorting pair even market sign shown none for shorting in 1 hour trend..

But - just now did have a quick shorting opportunities (15 mins trend) at 1.0015 to 1.0085 then TP at 1.0085 or 1.0075 along the way it breaks down to lower then bounce back.
I think he mentioned he trades the daily chart so 1H trend probably doesn't bother him.
  • #28,948
  • Mar 23, 2011 10:32am Mar 23, 2011 10:32am
Quoting skipismad
I think he mentioned he trades the daily chart so 1H trend probably doesn't bother him.
Exactly my point, which some seem to not understand..thank you

Anyway, short again at 1.0110 on the one i sold earlier.
Hopefully medium term, this will play out to 0.9200.

Sanks
  • #28,949
  • Mar 23, 2011 10:49am Mar 23, 2011 10:49am
if we go higher then 1.0150 i say were going to test the all time high. if we dont in the next few days...then i dont know> you could probably go long with a stop loss at around 1.0070 ish range and take profit at around 1.0160 ish to 1.0170 ish....risk 30 pips for 65 pips.
Don't be fooled by randomness
  • #28,950
  • Edited 10:58am Mar 23, 2011 10:56am | Edited 10:58am
To someone who is ready to take mid term short bias and act on it with this pair. I for one shall not short this pair (or ENY AUD/xxx pair) for more than hours because of leveraged negative interest. God it hurts.

It might not hurt in terms of % on you account, but i just cant stand emotional drawdown to go to sleep and think that something is eating my account even if it would just whipsaw within 10 pip range. Untolarable.

Tho, i do understand that when playing in daily and -> chart, high leverage isnt even used (from 1:1 to 10-15:1 at max i would presume). but still. Add up that gold and other comm. are on mid term longrun and AUD is positively correlated most of the time, Hell.... not for me.

But wish you all willing to do this very best luck!
  • #28,951
  • Mar 23, 2011 11:35am Mar 23, 2011 11:35am
Quoting ely
Exactly my point, which some seem to not understand..thank you

Anyway, short again at 1.0110 on the one i sold earlier.
Hopefully medium term, this will play out to 0.9200.

Sanks
You will need a big account and low leverage to withstand the drawdown if you trade in this manner, or margin call might be a frequent occurance.
  • #28,952
  • Edited 2:18pm Mar 23, 2011 1:28pm | Edited 2:18pm
Quoting skipismad
IMHO the recent dip to 0.97 was a knee jerk reaction to the earthquake/tsunami/nuclear scare in Japan. Although AUDUSD looks toppish now, I'm not sure if it will retrace fully back to 0.97 from here. As Japan starts rebuilding they will need loads of material, and AUD being a commodities backed currency may experience another rally.


for those shorting at this moment, instead of anticipating, why don't you at least wait for 1 day in the red. Like I said before, unless there's another disaster, it's not like you're going to see 1.0000 tomorrow. I'm still waiting at least a week before shorting, the run up is losing its steam. If I miss the train, no big deal, also trading other stuff.

edit: forget about A/U losing steam congrats to those who are long!
  • #28,953
  • Mar 23, 2011 4:51pm Mar 23, 2011 4:51pm
Who doesn't like nutting tops and bottoms? Cripes, I do it off a 1m chart for the quickie plays, picking up support and resistance on the Majors...and even on these, if I guess wrong my draw down will never exceed 20 pips...

What Ely is doing is hoping for the mother of all shorts...the one you can ride into the sunset and retire off of...

Problem is, I have my doubts on if he is playing with a position large enough to retire off of, so his gloat factor if there is a 6-800 pip retrace is really insignificant in the time it will take and having the idea that he will be or could be holding trades that are underwater for a really long time.

Really, this is not trading. It is cheerleeding and currency investment, and on the investment part, probably the term most appropriate is Bag Holder.

I don't care about how much he will make when it finally comes to his point of profit, nor do I care if he drops a micro account a hundred bucks into the stink. The real issue is with somebody who will run dogshit trades and continue to rant on...That is what the offensive part is.

Not much of a trade system, zero on techs, drop a dime into a trade and pray for profit...Really, I feel for people like this who have surrendered to the fact that they just could not make it in market and resort to really poor judgement like this, but in end, I would rather see them crucified and margined out of market before dragging others along...

Good luck out there guys...FWIW, one of the benefits of FF is the use of the ignore button...for folks like this that set such poor example of market understanding, I encourage all others, especially those new to market to utilize the iggy...

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #28,954
  • Mar 23, 2011 5:13pm Mar 23, 2011 5:13pm
Quoting Magix
Who doesn't like nutting tops and bottoms?...


Why don't you just concentrate on trading, instead of concentrating on whether i survive or not!

Most of what you write is like your getting nobbed if i do well, but would love to see me lose so you can go on about how clever your last 10 posts were!

What i would say is, give yourself a break, concentrate on the currency pair, think about how high it is..compared to what a reality value has been for this pair...think how long can it go up...think if it continues up,,then maybe Ely has factored into his trading the possibility that he is NOT going to catch this pair at the TOP..hence his continuation of entries in batches to try and get as close to the top as possible...think if he makes money then good luck to him..and if he doesn't then so be it..it was his risk..his chance..he can either make it or lose it...think..he's probably done his mathematics..and has a reasonable reserve to see this pair through to 1.1000 amd on the way up..he'll no doubt bag a few goodies like he has been doing...think he quite likes the idea that this pair is on a bubble, in HIS opinion, hence he likes to take positional play from its CURRENT price range..

Overall, i think you need to get over it. its getting a bit silly you criticising my trades when i have made a genuine packet on the last drip down below 9700...and am looking to put the positions back in, at MUCH better prices, where i won't need to wait for 9200 anymore, it may be 9450.

To me this pair is providing ample of opportunity to make a big time raise...the way you see the game may be different to me...but i feel comfortable knowing i am prepared to lose what i have happily taken from this pair..which i feel won;t happen as i am looking at taking further positions at 1.0240 and at 1.0500 if it wants to give them to me.

I hope this helps you make more money then what i make...and i hope Mrs Market doesn't take your account away for good...maybe you should be wishing the same!


Good trades to all...whether long or short
Sanks


March 23, 2011 at 21:54
Two of the local banks have issued sell recommendations on the AUD/USD between 1.0150/1.0200 and this is based on the heavy selling interest which is still being reported between 1.0200/1.0250

http://twurl.nl/x3wrml
  • #28,955
  • Mar 23, 2011 5:27pm Mar 23, 2011 5:27pm
Quoting ely
Why don't you just concentrate on trading, instead of concentrating on whether i survive or not!
I am...

I have multiple monitors, multiple alerts and multiple pairs in trade...what makes you think that replying in a forum takes away from my ability to push a button?

Whether you survive or not, really isn't the issue. It is how many do you drag into the gutters with you on this pathetic attempt at market that is.

I spend countless hours coaching others from my forum, to interactive trading to personal one on one time. I just find it completely offensive that you stick to this tripe and dole out insults while doing it...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #28,956
  • Mar 23, 2011 5:28pm Mar 23, 2011 5:28pm
Quoting Magix
Has guts or a serious lack of market sense?

Really, this kinda of trading can be attempted on AUDUSD, but where would this style land you if you traded the majors?

**Flush**
May be i should start listening to you!
Your trades are probably so perfect, i bet even you end up surprised!

Since your moaning so much about pissing against the wind...maybe you can name your perfect trades for us all to see....or maybe you might just wake up instead!
  • #28,957
  • Mar 23, 2011 5:31pm Mar 23, 2011 5:31pm
Quoting ely
May be i should start listening to you!
Your trades are probably so perfect, i bet even you end up surprised!

Since your moaning so much about pissing against the wind...maybe you can name your perfect trades for us all to see....or maybe you might just wake up instead!

Have you looked at this chart?

http://www.forexfactory.com/showpost...ostcount=28909
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #28,958
  • Mar 23, 2011 5:33pm Mar 23, 2011 5:33pm
Quoting Magix
I am...

I have multiple monitors, multiple alerts and multiple pairs in trade...what makes you think that replying in a forum takes away from my ability to push a button?

Whether you survive or not, really isn't the issue. It is how many do you drag into the gutters with you on this pathetic attempt at market that is.

I spend countless hours coaching others from my forum, to interactive trading to personal one on one time. I just find it completely offensive that you stick to this tripe and dole out insults while doing it...

Don't talk rubbish!
When have i told anyone to follow what i am doing?..if anything, i've told them to be careful and not follow ANYONE on a bb...even if you have multiple screens!

So what if you have multiple screens. Does that make you Mr Perfect?
Do you think i give a monkeys nipple about what you trade, how you trade it, how much you make?

Sad folk like you deserve to be swallowed by the market...its the only way they learn!
  • #28,959
  • Mar 23, 2011 5:39pm Mar 23, 2011 5:39pm
Quoting Magix
Have you looked at this chart?

http://www.forexfactory.com/showpost...ostcount=28909

Its a good indicator..but i am NOT bothered what happens this SECOND...or MINUTE or DAY..or WEEK..or MONTH...i am happy to take a position at a point which I FEEL is overbought..and take my initial point as a starting point to get in to the market so i can FEEL the flow...and then continue to position accordingly as i see fit.

A method that has served me well in the past and CONTINUOUS to serve me well, WHY do i want to change that, just because YOU disagree with my view of what is cometh!!

I don'y understand what you want me to do, other then change my trading plan and listen to someone who has multiple screens to my one screen!
  • #28,960
  • Mar 23, 2011 5:46pm Mar 23, 2011 5:46pm
Quoting ely
My call is based on several technical points on a test of the 0.9200 area

After the fall to below 8100 in May 2010 the technical route had a stark comparability or a trend with similarity based on its rise thereof:

1- May 2010 went from below 8100 to 8550 falling back down below 8100 -

2- June 2010 went from below 8100 to 8870 falling back down to 8320 -...


See this.
Its my call...whats yours to what price its heading. ..what are your current positions to back your theory?
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