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AUD/USD

  • #33,561
  • Sep 22, 2011 6:21am Sep 22, 2011 6:21am
Quoting VennD
I hv said it earlier ... refer 2nd option ... post # 33557 and 33531.

Post # 33565 ... THE WHITE FIB.
Thank's
  • #33,562
  • Sep 22, 2011 6:45am Sep 22, 2011 6:45am
Quoting rnegoro
I initiated a sell order at 1.0500, been waiting for a while and racking up overnight fees. Closed today at 1.0014.

Question is , there is a strong support at 1.0000 , where is the next significant support (0.9100 )? Anyone got any trading strategies ?
3 Key Decisions

There are three key decisions you need to make when trading and if your trading plan answers each question, then you may have the makings of a simple yet robust trading plan.

Your trading boils down to the following:

  1. Under what circumstances will you enter a trade?
  2. How much money will you commit to the trade?
  3. Under what circumstances will you close the trade?

Never picture your trading plan as a detailed document containing pages and pages of information because then it will overwhelm you and may deter you from compiling one in the first place.

Think in the simple terms above and once you have answered the above questions, then you can add some detail to it as time goes by.

A trading plan is simple, easy to execute, and most importantly suits you and your personality.

OPPORTUNITY IS NOWHERE
  • #33,563
  • Sep 22, 2011 7:23am Sep 22, 2011 7:23am
testing late '10 lows

wtf!
  • #33,564
  • Sep 22, 2011 7:27am Sep 22, 2011 7:27am
aussie way below parity.. looking for a setup to either long or short
  • #33,565
  • Sep 22, 2011 7:45am Sep 22, 2011 7:45am
0.9770 buy order.
  • #33,566
  • Sep 22, 2011 7:48am Sep 22, 2011 7:48am
Quoting VennD
0.9770 buy order.
risk aversion is full effect...demand level there i will look at reaction there on lower tf
  • #33,567
  • Sep 22, 2011 7:49am Sep 22, 2011 7:49am
Quoting VennD
0.9770 buy order.
good luck with that I'm sure you have a plan
Attached Image (click to enlarge)
Click to Enlarge Name: aud_usd_1_22_11_a.gif Size: 24 KB
OPPORTUNITY IS NOWHERE
  • #33,568
  • Sep 22, 2011 8:01am Sep 22, 2011 8:01am
I've been heavily short on this pair for a couple of weeks in a position trade.

Won't be closing these positions any day (or any week) soon.

The AUD was ranging between .9402 and .8063 in July 2009 to May 2010 and that's whre I see its true value. It also made a low of 0.60 in Nov 2008 but it would take a collapse in the gold price to see that again. My gold positions also closed today (at a good profit) and maybe gold has double topped (but I'd be a gold buyer again at $1920). If gold falls back to $1,600 or thereabouts (quite likely) this could put more downward pressure on the AUDUSD.

So I'm in for the long haul and maybe it will be a long ride.
  • #33,569
  • Sep 22, 2011 8:29am Sep 22, 2011 8:29am
Quoting VennD
0.9770 buy order.
hard to know whether long or short, but generally dont fight the trend
  • #33,570
  • Edited 9:04am Sep 22, 2011 8:43am | Edited 9:04am
Quoting Callisto
good luck with that I'm sure you have a plan
OPERATION TWIST . Im still on short from 1.0074 , btw.

Entering long from 0.9970 is to secure those gains (+304 pips) on short, coz I think there might be some more prices down there has not been executed.
  • #33,571
  • Sep 22, 2011 8:50am Sep 22, 2011 8:50am
Quoting FX-Petra
Stopped out @ 0135. Rebuy 3 longs @ weekly tend line 0085. Daily close below this would be bad for longs.

Regards,
Longs added @ 09790. Good trades to all....

Regards,
  • #33,572
  • Sep 22, 2011 8:58am Sep 22, 2011 8:58am
Quoting FX-Petra
Longs added @ 09790. Good trades to all....

Regards,
Still holding all of your other longs Petra?

I was starting to build a long position below parity, now I'm second guessing myself. It's a bad idea to stand in front of that bear freight train at the moment so I'll stay on the sidelines for now.
  • #33,573
  • Edited 9:11am Sep 22, 2011 9:07am | Edited 9:11am
Quoting john123x
hard to know whether long or short, but generally dont fight the trend
Long 0.9770 stopped out at BE+1. Still lurking around where to park 1 long to secure pips gain on short from 1.0074.

Many ppl buying USD, man. Like gold rush ... but this time USD rush
  • #33,574
  • Edited 9:54am Sep 22, 2011 9:27am | Edited 9:54am
Got one long entry ... but very bad @ 0.9747 (Low is 0.9733).
Gains +327 pips secured (Short @ 1.0074).

Could be something ghosting around ... maybe it won't stop until it touch at / between 0.9705-0.9644.

OPERATION TWIST isn't enough to calm market ... hospitalized ... Someone please call the doctor !
  • #33,575
  • Sep 22, 2011 9:32am Sep 22, 2011 9:32am
Excuse me, this in my first post.
I get -400+
Anyone can help me? Must I cut lose for it when the margin position still strong enough? When the chart will move up?
Sorry for my stupid first post
  • #33,576
  • Sep 22, 2011 9:44am Sep 22, 2011 9:44am
Quoting henryfekok
Excuse me, this in my first post.
I get -400+
Anyone can help me? Must I cut lose for it when the margin position still strong enough? When the chart will move up?
Sorry for my stupid first post
how big is your account, how much in $$$ is the loss, how many lots?
  • #33,577
  • Edited 11:55am Sep 22, 2011 10:42am | Edited 11:55am
Quoting diggo
Still holding all of your other longs Petra?

I was starting to build a long position below parity, now I'm second guessing myself. It's a bad idea to stand in front of that bear freight train at the moment so I'll stay on the sidelines for now.
I cut all my longs loose(except my 09750) @ 1.0050. Yes, it stings, but I made a lot on the way up so I guess I should not complain. Went long another 2 lots @ 09790. This big question is.... will 09700 hold. Also, we need to get back above the weekly trendline near 9950 before weeks end. In any case, if we break 09650, it am out and will take a week or so off to evaluate the market. I just cannot short this pair. I congratulate those that have and have made good pips.

Regards,
  • #33,578
  • Sep 22, 2011 10:52am Sep 22, 2011 10:52am
Quoting BurgerKing
how big is your account, how much in $$$ is the loss, how many lots?
I just starting to learn trade. My account is about $7, the amount left for margin is about $2 right now. I still confused about lot, this position is 50 (qty) at 1:100 leverage
  • #33,579
  • Sep 22, 2011 11:17am Sep 22, 2011 11:17am
Quoting henryfekok
I just starting to learn trade. My account is about $7, the amount left for margin is about $2 right now. I still confused about lot, this position is 50 (qty) at 1:100 leverage
what you have is losing almost 72% of an account to a single position... this is overleveraged/losing badly and you shoud cut loss.

do not overleverage.. it is number one rule in surviving forex
learn to cut loss is rule number 2.. look around; we cut loss and surviving. noobs dont survive past the first month.
  • #33,580
  • Sep 22, 2011 11:28am Sep 22, 2011 11:28am
Quoting BurgerKing
what you have is losing almost 72% of an account to a single position... this is overleveraged/losing badly and you shoud cut loss.

do not overleverage.. it is number one rule in surviving forex
learn to cut loss is rule number 2.. look around; we cut loss and surviving. noobs dont survive past the first month.
Oh, I see. Would you like to show me where I can learn about the cut lose? I don't want to face my second MC because of AUD/USD and GBP/USD.
Sorry, I have to take a rest. I'll monitor this thread and this forum. Nice to meet a nice person like you. Thanks for all.
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