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AUD/USD

  • #34,801
  • Oct 24, 2011 6:36pm Oct 24, 2011 6:36pm
Quoting lasty
RBA's Battellino Reaffirms possible Interest rate cuts

http://news.smh.com.au/breaking-news...025-1mh1d.html

Its going to be an interesting few weeks left in 2011..
A strong Aussie won't be good for Australia's economy... heck, a strong Euro isn't what Euro country needs right now... but as long as there is hope, people are going to keep pushing both Euro and AUD up....

I have some shorts open from before.... let's hope the market blinks first before I do....
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #34,802
  • Oct 24, 2011 6:38pm Oct 24, 2011 6:38pm
Quoting rafiqhidayat
A strong Aussie won't be good for Australia's economy... heck, a strong Euro isn't what Euro country needs right now... but as long as there is hope, people are going to keep pushing both Euro and AUD up....

I have some shorts open from before.... let's hope the market blinks first before I do....
where are you short from? if we manage to get another bull run during london/ny tonight im going short for the rest of the week
  • #34,803
  • Oct 24, 2011 6:46pm Oct 24, 2011 6:46pm
all my shorts are 0.01 units (so overall damage is manageable, but I still don't like to see the red losses lol)


but I have a few south of parity, but the rest are between 1.015 and 1.035... so if the market goes down to the 1.0250 - 1.035 area... my financial position would be much2 better....

I can stomach a move all the way up to 1.1 or 1.15 if required... but obviously will make a decision sometime on the move up if I can't create a better financial position by then..

We'll see.
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #34,804
  • Oct 24, 2011 8:27pm Oct 24, 2011 8:27pm
In with a fresh new long @ 1.0461 targeting 1.0600, tight stop 1.0441
Expect the unexpected.
  • #34,805
  • Oct 24, 2011 8:40pm Oct 24, 2011 8:40pm
Quoting fx-rocket
In with a fresh new long @ 1.0461 targeting 1.0600, tight stop 1.0441
Make that stop @ 1.0421...
Expect the unexpected.
  • #34,806
  • Oct 24, 2011 9:27pm Oct 24, 2011 9:27pm
Quoting taxe91
long from 1.037 currently but theres no way in hell i'll keep it open till wednesday
closed the lots at 1.045 and 1.047 respectively

looking for a good entry for an intraday short now
  • #34,807
  • Oct 24, 2011 9:56pm Oct 24, 2011 9:56pm
Quoting taxe91
closed the lots at 1.045 and 1.047 respectively

looking for a good entry for an intraday short now
Nice.

Still waiting on the sidelines here... will only go in once the price action breaks south of 1.0441.
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #34,808
  • Oct 24, 2011 10:45pm Oct 24, 2011 10:45pm
Quoting rafiqhidayat
A strong Aussie won't be good for Australia's economy... heck, a strong Euro isn't what Euro country needs right now... but as long as there is hope, people are going to keep pushing both Euro and AUD up....

I have some shorts open from before.... let's hope the market blinks first before I do....
I know this trading plan, used it before myself... it goes like this, when the pain of losing just $1 more is greater than the pain of admitting I am wrong, I will exit the trade.

Fortunately, I don't trade that way anymore since I discovered POSITION SIZING. Now before I enter a trade, I always know my entry, exit and take profit, and maximium loss per trade; pretty easy really, no stress
OPPORTUNITY IS NOWHERE
  • #34,809
  • Oct 24, 2011 10:57pm Oct 24, 2011 10:57pm
Quoting Callisto
...POSITION SIZING. Now before I enter a trade, I always know my entry, exit and take profit, and maximum loss per trade...
Callisto, thanks for that....I was just redoing my MM plan, and was looking for a sentence or two to simply explain what the plan was all about.....You hit it on the head....

Hey, on an unrelated subject I have been meaning to ask you, the indicator (fib indicator) that you modified to indicate your entry, break even and profit target points: since you changed that do you no longer have a fib tool, or is there a clever way around that problem?
Thanks, appreciate your posts.
  • #34,810
  • Oct 24, 2011 10:58pm Oct 24, 2011 10:58pm
Heads up on the Kiwi..

It looks like the World Champions of Rugby's currency is struggling.
We may see the AUD/NZD move up or AUD go down with it..

But to me the kiwi looks heavy..
  • #34,811
  • Oct 24, 2011 11:11pm Oct 24, 2011 11:11pm
i am failing to understand AU pair today asx loosing ground , interest rate cut on card, but no sign of giving up, why ?
Mohan
  • #34,812
  • Oct 24, 2011 11:17pm Oct 24, 2011 11:17pm
Quoting funwithbux
Callisto, thanks for that....I was just redoing my MM plan, and was looking for a sentence or two to simply explain what the plan was all about.....You hit it on the head....

Hey, on an unrelated subject I have been meaning to ask you, the indicator (fib indicator) that you modified to indicate your entry, break even and profit target points: since you changed that do you no longer have a fib tool, or is there a clever way around that problem?
Thanks, appreciate your posts.
So which part fit you trading plan? The Position Sizing or was it the PAIN of losing $1 more?

No, there is no clever way to have 2 Fib tools, once you change it, your are stuck with those settings until you change it back. It would be good to have both if you are a dedicated Fib trader I suppose.
OPPORTUNITY IS NOWHERE
  • #34,813
  • Oct 24, 2011 11:40pm Oct 24, 2011 11:40pm
Quoting mohan76
i am failing to understand AU pair today asx loosing ground , interest rate cut on card, but no sign of giving up, why ?
pair looks asleep to me too mohan.. maybe we will see some moves in ny market hours? (i hope so at least)
  • #34,814
  • Oct 24, 2011 11:42pm Oct 24, 2011 11:42pm
Quoting mohan76
i am failing to understand AU pair today asx loosing ground , interest rate cut on card, but no sign of giving up, why ?
Maybe to make forex trading difficult ? I mean if it follow our logic it's much easier to understand and most of us already a winner in this game..
  • #34,815
  • Oct 25, 2011 12:31am Oct 25, 2011 12:31am
Quoting andri66
Maybe to make forex trading difficult ? I mean if it follow our logic it's much easier to understand and most of us already a winner in this game..
mater of time it should fall 100 pip before tomorrow CPI, if CPI support it might fall further

edit : sidelined until London (some time it might +100 then -100 )
Mohan
  • #34,816
  • Oct 25, 2011 12:34am Oct 25, 2011 12:34am
Quoting mohan76
i am failing to understand AU pair today asx loosing ground , interest rate cut on card, but no sign of giving up, why ?
Welcome to FX.

Fundamentally this should be sub parity with all whats going on.
Euro even more so..

Market seems to have got itself short as well as some (strange equity purchases) giving it a lift.

Didnt see it coming myself-

Anyway we bat on hoping CPI tom is low and RBA cut rates on Melbourne Cup day..

Everyday I feel average.. And average is normally another big fig higher
  • #34,817
  • Oct 25, 2011 12:40am Oct 25, 2011 12:40am
ny futures indices are down and i think the european ones were too. regardless its a long time to go till ny opens but risk appetite might be lower today after the strong rallys of the past 2 trading days.

edit: my mistake the ftse futures are down but cac and dax are up and the euro stoxx 50 as well
  • #34,818
  • Oct 25, 2011 12:44am Oct 25, 2011 12:44am
Quoting lasty
Welcome to FX.

Fundamentally this should be sub parity with all whats going on.
Euro even more so..
poor farmers first Drought, now Forex , i feel sorry for them
Mohan
  • #34,819
  • Edited 3:27am Oct 25, 2011 12:55am | Edited 3:27am
Quoting taxe91
closed the lots at 1.045 and 1.047 respectively

looking for a good entry for an intraday short now
short from 1.047..first lot finally TP'd at 1.045..if we manage to break this mini support level i will hold onto 2nd lot and if not i will close it at 1.046.

edit: just slapped a trailing stop on 2nd lot to save myself some energy

edit2: short orders from 1.075 and 1.085 seem to have got hit while i was napping..hmm seems we got awfully close to 1.05 too
  • #34,820
  • Oct 25, 2011 4:02am Oct 25, 2011 4:02am
Quoting lasty
Welcome to FX.

Fundamentally this should be sub parity with all whats going on.
Euro even more so..

Market seems to have got itself short as well as some (strange equity purchases) giving it a lift.

Didnt see it coming myself-
my attitude to these things is to never be upset that the market has yet to go in your direction, but be happy that the market is waiting for you to get in before it turns
the bears will again have their day my friend, positivity (and confidence) are the best tools at your disposal in this game
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