AUD/USD | Page 1755 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

AUD/USD

Similar Threads

EUR/GBP, EUR/USD, GBP/USD, AUD/USD, CAD, NZD, JPY, and more... 15 replies

EUR/USD, AUD/USD, and CAD/USD ready to move up 2 replies

Anyone here trading AUD/USD or USD/AUD tonight regarding AUS Home Loan Report? 1 reply

The AUD/USD 1.00 EUR/AUD 1.60 GBP/AUD 2.00 Thread! 0 replies

AUD Trade Balance and AUD Retail sales 6 replies

Attachments: AUD/USD
Exit Attachments

AUD/USD

  • #35,081
  • Oct 29, 2011 2:49am Oct 29, 2011 2:49am
Sorry I dont understand your metaphor.

I only recommend him because I completed his course and my results physchologiclly are great. He is an exmarine and ex army people are notoriously good traders

Look him up

Quoting Mingary
Jason Stapleton?
life in the ocean, some unlucky creature is wounded and now the sharks are coming in for the kill.
  • #35,082
  • Oct 29, 2011 4:10am Oct 29, 2011 4:10am
AUD/USD – Bias (Overall): Bullish + Potentially Consolidating

http://lcchong.files.wordpress.com/2...ng?w=837&h=380
  • #35,083
  • Oct 29, 2011 5:27am Oct 29, 2011 5:27am
Quoting happytrader
Hi jayjb,

thanks for your advice. it really really is helpful.

can i ask how do you set your s/l at say a 4h tf. surely, you must set aside many many pips for s/l when u use such a high tf. i usually use 10 to 15 pips can s/l. that;s my standard.

thanks
It's usually about 50 to 80 pips

I use trendline r/s, fib r/s and the basis of 25, 50, 75 to be psychological numbers
  • #35,084
  • Edited 7:14am Oct 29, 2011 7:09am | Edited 7:14am
Quoting Pipx
In my opinion you will learn nothing from these forums
@ Pipx, Sorry you feel that way, and I believe that your belief system will limit whatever you hope to benefit from trading forex I'm sure (PS, don't read the rest of this post, be of no benefit for somone that apparently knows it all )

Quoting happytrader
can i ask how do you set your s/l at say a 4h tf. surely, you must set aside many many pips for s/l when u use such a high tf. i usually use 10 to 15 pips can s/l. that;s my standard.

thanks
jayjb, first thing you need to learn the terms, MONEY MANAGEMENT & POSITION SIZING

Then get away from ever using fixed pip stop loss & number of lots again, every trade should be different based on the price action, if you can only use 10 or 15 pip stop loss, then either your position is way too big or your account is way too small, trades need some room to work

here is an example, please follow, here is a 1 hour chart, say your system / method says to go long at the break of recent high, or maybe you want to allow 5 pips above that high and a stop loss 5 pips below the recent low, this give a difference of 60 pips

go to http://www.earnforex.com/position-size-calculator and input the values to make the calculation, say we have a brand new account with $10,000

using a RISK of 2% it says we can open a position of 0.288, round this to 0.28, set up an entry to go long on a stop at that level

so what we have done here, made a trade plan to go long when price breaks above a certain level, at which point the price action is in our desired direction,

we know the exact amount risk on the trade, where to exit if the trade plan doesn't work, IF it triggers, all we can expect is that something will happen

the exact same set up could be done for a break of the downside level, using the same calculations

jaykb, now, did you learn anything? questions? Practice this on DEMO, do it 20 times, or until it becomes a habit, report back to me your results, thanks for reading

Attached Image(s) (click to enlarge)
Click to Enlarge Name: buy_gbp_chf_01.gif Size: 24 KB
Click to Enlarge Name: risk_calc.png Size: 43 KB
OPPORTUNITY IS NOWHERE
  • #35,085
  • Oct 29, 2011 7:28am Oct 29, 2011 7:28am
Quoting Callisto
@ Pipx, Sorry you feel that way, and I believe that your belief system will limit whatever you hope to benefit from trading forex I'm sure (PS, don't read the rest of this post, be of no benefit for somone that apparently knows it all )



jayjb, first thing you need to learn the terms, MONEY MANAGEMENT & POSITION SIZING

Then get away from ever using fixed pip stop loss & number of lots again, every trade should be different based on the price action, if you can only use 10 or 15 pip stop loss,...
thank you guys! thanks for the valuable lesson here!!! i will practice it!
  • #35,086
  • Oct 29, 2011 7:36am Oct 29, 2011 7:36am
close above .0764 on monday would give us a bullish engulifng outside bar on the monthly...... :-P

Attached Image (click to enlarge)
Click to Enlarge Name: audusd.jpg Size: 115 KB
Hero calls followed by margin calls...
  • #35,087
  • Oct 29, 2011 7:47am Oct 29, 2011 7:47am
I noticed that and have your same concerns. I closed my AUDUSD short for a small loss since the pair seems to ge relatively strong. If it breaks it will be a nice move I figure however. I opted to keep a couple other pairs in dollar longs, Euro and CAD...gonna be interesting open to see if there is any follow through.

Quoting taxe91
was fooling around on my daily chart when i noticed how symmetrical our last 2 candles are with the 2 candles from august. i know its just a coincidence but its good for a laugh or a light ponder.

damn i really hope we dont complete the image and go charging to 1.10 on monday seeing as im short from 0720
  • #35,088
  • Oct 29, 2011 8:05am Oct 29, 2011 8:05am
Quoting Callisto
jayjb, first thing you need to learn the terms, MONEY MANAGEMENT & POSITION SIZING

Then get away from ever using fixed pip stop loss & number of lots again, every trade should be different based on the price action, if you can only use 10 or 15 pip stop loss, then either your position is way too big or your account is way too small, trades need some room to work

here is an example, please follow, here is a 1 hour chart, say your system / method says to go long at the break of recent high, or maybe...
I think you're addressing the wrong person?
  • #35,089
  • Oct 29, 2011 8:11am Oct 29, 2011 8:11am
Attached Image (click to enlarge)
Click to Enlarge Name: aud daily.gif Size: 19 KB



locked in a sell, might get a retrace from here for a few


pole into supply, might catch a flag south to buy zone


crazy bullish thou
  • #35,090
  • Oct 29, 2011 10:17am Oct 29, 2011 10:17am
I think the aud/usd is forming a massive head n shoulders. We maybe be heading into the right shoulder on the daily. If we close higher next week such as 1.08 or 1.09, I expect a retrace to 1.03 then consolidate into the right shoulder, and then another bang up to 1.13 or something crazy. I admit this is just speculation and fundamental drivers can change. But it is fun to try and guess. I would never base a strategy on this, just speculate. Although if it did roll into a right shoulder I may have to put down a few bucks, just fun.
  • #35,091
  • Oct 29, 2011 10:53am Oct 29, 2011 10:53am
I am opening a Free chat room for all that want to take part. It may be useful particularly in discussing things in real time and could be used along with this and other threads. The details are here: http://www.forexfactory.com/showthread.php?t=322868
ex member
  • #35,092
  • Oct 29, 2011 11:17am Oct 29, 2011 11:17am
If a paragraph of information will help them turn an unprofitable account into a profitable one then we would have more successful people in forex.

To become consistantly profitable it takes years and you must be prepared to give it everything.

I was actually trying to help that bloke, maybe he will realise once he blows his next account

Quoting Callisto
@ Pipx, Sorry you feel that way, and I believe that your belief system will limit whatever you hope to benefit from trading forex I'm sure (PS, don't read the rest of this post, be of no benefit for somone that apparently knows it all )



jayjb, first thing you need to learn the terms, MONEY MANAGEMENT & POSITION SIZING

Then get away from ever using fixed pip stop loss & number of lots again, every trade should be different based on the price action, if you can only use 10 or 15 pip stop...
  • #35,093
  • Oct 29, 2011 11:36am Oct 29, 2011 11:36am
It's kinda hard to give advice to someone who clearly does not conform to your style and the learners' concept.

First question we need to ask is your fund capacity ( how much punishment can your funds take before a margin call). This determines your lot size and SLs.

2ndly, your holding duration, do you just want to scalp or hold them for a day or hold them for a week ?

3rdly, are you doing this for fun or for real ?

4th, do you have a job ?

5th, do you have basic fundamental and technical knowledge ?
  • #35,094
  • Oct 29, 2011 11:51am Oct 29, 2011 11:51am
Personally I think that the first thing we need to do is work on psychology + discipline, because even if we have the best system and no psychology we will lose.

Its very hard when you have real money in your account to have a number of bad trades in a row and still trade your plan, not take your profits earlier than in your plan and take your stops as advised by your plan.

In fact to be honest now I dont mind losing, as long as I have followed my plan because my plan has been back tested and I have expectancy with how many losers I will have in a row and the overall outcome.

Its worked very well

Only my opinion


Quoting rnegoro
It's kinda hard to give advice to someone who clearly does not conform to your style and the learners' concept.

First question we need to ask is your fund capacity ( how much punishment can your funds take before a margin call). This determines your lot size and SLs.

2ndly, your holding duration, do you just want to scalp or hold them for a day or hold them for a week ?

3rdly, are you doing this for fun or for real ?

4th, do you have a job ?

5th, do you have basic fundamental and technical knowledge ?
  • #35,095
  • Oct 29, 2011 1:21pm Oct 29, 2011 1:21pm
From what I understand for monday from the RBA is that the consensus is unchanged. A cut is not expected and a cut would send this pair down...ALOT. If the rate is unchanged, I am still expecting a sell off, but not as much. If the rate is raised....1.10 here we come.
  • #35,096
  • Oct 29, 2011 2:01pm Oct 29, 2011 2:01pm
Well AUD got bought up more than anything else Thurs, so I expect big guys are loading up on commodities again... this isn't to say that it might or might not sell off, just that it probably won't sell off more than others. If it goes up it will go up more.
I'm watching 75 USDx as a trigger.
  • #35,097
  • Oct 29, 2011 2:54pm Oct 29, 2011 2:54pm
Quoting western
From what I understand for monday from the RBA is that the consensus is unchanged. A cut is not expected and a cut would send this pair down...ALOT. If the rate is unchanged, I am still expecting a sell off, but not as much. If the rate is raised....1.10 here we come.
From what I've read the market has priced in a 25 bps cut at 89%, and its expected the RBA will cut. However, the fundamentals don't matter anymore, we've entered a funnymentals era, as long as the market believes that Europe has kicked the can down the road for another year or two it will rally, if the euphoria dies off it won't, the euro will sell off and so will the Aussie.
Yay! Pips for everyone!
  • #35,098
  • Oct 29, 2011 9:45pm Oct 29, 2011 9:45pm
Quoting Pipsforall
From what I've read the market has priced in a 25 bps cut at 89%, and its expected the RBA will cut. However, the fundamentals don't matter anymore, we've entered a funnymentals era, as long as the market believes that Europe has kicked the can down the road for another year or two it will rally, if the euphoria dies off it won't, the euro will sell off and so will the Aussie.
source please?

judging from what i witnessed last week, the market has priced in anything but a rate cut

that implies if the rate is unchanged that we will rally hard
  • #35,099
  • Oct 29, 2011 10:42pm Oct 29, 2011 10:42pm
Quoting jayjb
I think you're addressing the wrong person?
Yes, you are correct, it is for happytrader, not sure how I mixed that up, anyway, I think he got the point and is off to do some study
OPPORTUNITY IS NOWHERE
  • #35,100
  • Oct 29, 2011 10:54pm Oct 29, 2011 10:54pm
Quoting Pipx
If a paragraph of information will help them turn an unprofitable account into a profitable one then we would have more successful people in forex.

To become consistantly profitable it takes years and you must be prepared to give it everything.

I was actually trying to help that bloke, maybe he will realise once he blows his next account
No, the paragraph will not change him into a profitable trader, might stop him from losing as much, remember -
a journey of a thousand miles begins with a single step

On one hand you said that "you will learn nothing from these forums" and then go on to "I was actually trying to help" so sorry if I'm am confused.

Tell us more about Jason Stapleton, I didn't know he was into trading psychology? Apart from being # 1 spammer, I thought he was selling systems?
OPPORTUNITY IS NOWHERE
31 traders viewing now