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AUD/USD

  • #34,821
  • Oct 25, 2011 4:34am Oct 25, 2011 4:34am
Quoting taxe91
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
agreed....

Hence the importance of money mgmt to withstand the movements...

Overall, i only have 0.9 mini lots in play, so I can withstand huge drawdowns before even getting any margin call...
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #34,822
  • Oct 25, 2011 5:59am Oct 25, 2011 5:59am
Quoting Callisto
So which part fit you trading plan? The Position Sizing or was it the PAIN of losing $1 more?
It was the Position Sizing statement, that covered all the specific bases I was trying to summarize in the new MM plan, but...."when the pain of losing just $1 more is greater than the pain of admitting I am wrong, I will exit the trade." Is Classic, just Classic. I have printed that off in Bold letters and pasted it to the top of my trade terminal. Doesn't get any more succinct than that.
Regarding that Fib Tool, don't know if it is important to you, but I found a way to keep the Fib Tool and still have a RR Trade Indicator as well.
I did like yours, but wanted to keep my Fibber as well.
  • #34,823
  • Oct 25, 2011 6:42am Oct 25, 2011 6:42am
still waiting on ny to wake this thing up
  • #34,824
  • Oct 25, 2011 7:45am Oct 25, 2011 7:45am
Opportunity may arise with the CB consumer confidence report in 20 mins or so. It would be nice if this was a good forecast for the US as it would prove helpful in finding a position to go long on again.
  • #34,825
  • Oct 25, 2011 7:55am Oct 25, 2011 7:55am
Quoting taxe91
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
closed off 1 lot at 1.0454.. holding 2nd one with fingers crossed that we can break this support zone
  • #34,826
  • Oct 25, 2011 8:39am Oct 25, 2011 8:39am
Quoting taxe91
closed off 1 lot at 1.0454.. holding 2nd one with fingers crossed that we can break this support zone


Did you enjoy that one? just stacked 40 pips onto your gain
  • #34,827
  • Oct 25, 2011 8:44am Oct 25, 2011 8:44am
Quoting stoleo
Did you enjoy that one? just stacked 40 pips onto your gain
yep! i had actually re-entered short at 1.046 on that 30 second bullish spike we got about 10 minutes ago, so im stuck with 2 lots again.

not to sound greedy but im still bearish on the pair so will keep holding (SL moved to +5) probably overnight its overvalued at the moment in my opinion
  • #34,828
  • Oct 25, 2011 8:48am Oct 25, 2011 8:48am
Quoting FX-Petra
Still looking for a dip to add another long. May not be offered. I did not buy the 4hr break of 0370.....surley I will get a better price soon. We shall see.

Regards,
Bought 1 lot @ 0400. Perhaps will get to buy another below 0300.

Regards,
  • #34,829
  • Oct 25, 2011 9:01am Oct 25, 2011 9:01am
HORRIBLE consumer confidence in the US..wow..
  • #34,830
  • Oct 25, 2011 9:19am Oct 25, 2011 9:19am
Quoting taxe91
HORRIBLE consumer confidence in the US..wow..
the aud is holding up quite nicely compared to nzd and cad...lol did the canadian gov intervene? LOL
  • #34,831
  • Oct 25, 2011 9:20am Oct 25, 2011 9:20am
1.04 seems to be powerful support theres been two 50 pip bounces off it already, still hoping we can break through it but i wont expect too much.. looks like everythings set for the aus CPI tomorrow
  • #34,832
  • Oct 25, 2011 9:44am Oct 25, 2011 9:44am
Quoting taxe91
1.04 seems to be powerful support theres been two 50 pip bounces off it already, still hoping we can break through it but i wont expect too much.. looks like everythings set for the aus CPI tomorrow

This could be going to 1.06.....by the support I saw at 1.04. I think everyone is thinking cpi is good because of the china data.
  • #34,833
  • Oct 25, 2011 9:55am Oct 25, 2011 9:55am
I still remain short on this pair
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  • #34,834
  • Oct 25, 2011 9:58am Oct 25, 2011 9:58am
Quoting stoleo
I still remain short on this pair
This one should display better
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  • #34,835
  • Oct 25, 2011 10:04am Oct 25, 2011 10:04am
Quoting western
This could be going to 1.06.....by the support I saw at 1.04. I think everyone is thinking cpi is good because of the china data.
yes, definitely could go either way. market might be a bit tentative tomoro before euro news though. also pricing in that the US consumer confidence was worst level since march 2009

edit: do we have one more retest of 1.04 in us?
  • #34,836
  • Oct 25, 2011 10:09am Oct 25, 2011 10:09am
Seems to me this pair is just fluctuating between 1.00 (decently strong support) to 1.08 (strong resistance) . The only time AUD goes below 1.00 is when bad news happen.

If you wanna play it safe, you can wait for 1.08 before u start a sell, but imho 1.05 is good level to start a sell.
  • #34,837
  • Oct 25, 2011 10:23am Oct 25, 2011 10:23am
Quoting rnegoro
Seems to me this pair is just fluctuating between 1.00 (decently strong support) to 1.08 (strong resistance) . The only time AUD goes below 1.00 is when bad news happen.

If you wanna play it safe, you can wait for 1.08 before u start a sell, but imho 1.05 is good level to start a sell.
I am not in the aud, so i am not long or short. just so posters dont think i am biased. Anyways, from what I am getting for the euro crisis is that tomorrow they may be a solution, but from what I hear the solution is not really a solution but buys more time. It paints the picture to the market that they have solved the problem, but indeed they havent. So, I think if this is true, we will see a market meltdown tomorrow. I think the smart money is taking the profit now. After tomorrow, if this is indeed correct, we will see a further meltdown. If I am wrong, then we will see further move north, as the union will solve the problem with further liquidity. I think this is why we are getting confused today, with some profit taking. My question is, are the ones taking the profit today correct? or r they prematurely exiting. Eitehr way, maybe the best strategy is to exit with half, and wait. Honestly I dont know. I am staying out. this is like flipping a coin.
  • #34,838
  • Oct 25, 2011 11:48am Oct 25, 2011 11:48am
down channel confirmed on 5 mins
  • #34,839
  • Oct 25, 2011 11:54am Oct 25, 2011 11:54am
Who knows where this is going but a small projection on 5 mins
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  • #34,840
  • Oct 25, 2011 12:11pm Oct 25, 2011 12:11pm
Quoting stoleo
Who knows where this is going but a small projection on 5 mins

Just keep on charting
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