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AUD/USD

  • #37,381
  • Dec 8, 2011 11:40pm Dec 8, 2011 11:40pm
Quoting e_piz
Correct, I believe this is the case. He's trading like if market goes against him he will blow the account.

Try this,
Scenario 1: You trade 10 lot = 10usd per pip, 20 pip profit you fleee. = 200usd

Scenario 2 : If you trade 2 lot = 2usd per pip, you can have it run 50pip and you dont need to worry a damn thing. = 100usd

Ill go with scenario 2, I can sleep better. just need to repeat it 10, 20 times and u see how big your account is.
erm, you're right about this . hehe.
  • #37,382
  • Dec 9, 2011 12:01am Dec 9, 2011 12:01am
does anyone know what time the EU summit starts .......east coast australian time....cheers?
  • #37,383
  • Dec 9, 2011 12:08am Dec 9, 2011 12:08am
Quoting happytrader
erm, you're right about this . hehe.
That's what I've been trying to tell you.

I'm trading Mini Lots (technically micro lots), and as the risk is low, I can afford to let my trades run even if they don't go the right way.

I had the same problem before, and I know it's not easy. But as the example shown above, if you trade 0.1 Mini Lot, and it goes 100 pips away from your entry point, you're only down USD 10, so no biggie. With my capital, I can even let the trades run up to -2000 pips (USD 200) and it'll still be within my money management rules.

Good luck happy.
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #37,384
  • Dec 9, 2011 12:16am Dec 9, 2011 12:16am
I doubt it will break lower than 1.0100. The swing doesn't seem convincing for me
The tone of your words reflects the quality and result of your trading ;-)
  • #37,385
  • Dec 9, 2011 12:21am Dec 9, 2011 12:21am
Quoting isaacyassar
I doubt it will break lower than 1.0100. The swing doesn't seem convincing for me
Going in long for 30 pips targeting 1.0130.
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #37,386
  • Dec 9, 2011 12:36am Dec 9, 2011 12:36am
Im on 33pip + riding from 0133.. lock +5 profit and moving on to my day job.
Trade what you see. Write what you feel
  • #37,387
  • Dec 9, 2011 12:38am Dec 9, 2011 12:38am
Quoting rafiqhidayat
Going in long for 30 pips targeting 1.0130.
I plan to go long too, just waiting to see some buying interest in 15m candle first. It seems very quiet in the market, feels weird, like something is missing
The tone of your words reflects the quality and result of your trading ;-)
  • #37,388
  • Dec 9, 2011 12:39am Dec 9, 2011 12:39am
Quoting rafiqhidayat
Going in long for 30 pips targeting 1.0130.
SL?

personally I think this would be too risky running a long without a SL. While we all expect a short bounce to the top, I think everyone agree's the aussie is heading south soon. I'd hate to be caught with a long position and down 400pips. Even with the carry trade exchange I still don't really see much long term upside.
  • #37,389
  • Dec 9, 2011 12:43am Dec 9, 2011 12:43am
We will see a bounce after reaching ~ 1.002.
Trade what you see. Write what you feel
  • #37,390
  • Dec 9, 2011 12:47am Dec 9, 2011 12:47am
Quoting benjamf13
SL?

personally I think this would be too risky running a long without a SL. While we all expect a short bounce to the top, I think everyone agree's the aussie is heading south soon. I'd hate to be caught with a long position and down 400pips. Even with the carry trade exchange I still don't really see much long term upside.
and what else i'm finding risky, is this could be the second day running we finish under the 200EMA, (1D) the 10/30EMAs still below the 200, so its still long term downtrend, the 10/30 gap is closing, indicating an intermediate shift in direction to the downside. We all expect the up, but my indicators are telling me otherwise.

4H shows MACD strong bear, intermediate downtrend, and in 1H14M if this candle finishes around where it is now, we're under the 200ema too...

1H MACD strong bear, EMA's intermediate downtrend, and we're trading well below the 200EMA...

make up your mind, but I guess we won't' know where we're heading until London opens.
  • #37,391
  • Dec 9, 2011 12:51am Dec 9, 2011 12:51am
My target is 1.0060 which is a congestion area since last week.
Will re-enter if it breaks panty.
  • #37,392
  • Dec 9, 2011 12:52am Dec 9, 2011 12:52am
It's breaking lower than the previous low, but my fake-out sense is tingling. It's too simple to just break lower, not as intelligent and twist-ful as I expected
The tone of your words reflects the quality and result of your trading ;-)
  • #37,393
  • Dec 9, 2011 12:57am Dec 9, 2011 12:57am
Quoting isaacyassar
It's breaking lower than the previous low, but my fake-out sense is tingling. It's too simple to just break lower, not as intelligent and twist-ful as I expected
It has been intelligent breaking 1.035 yesterday on a false breakout. Being stupid today is the best intelligent thing to do. Most people will be waiting for a retracement before re-entering.
Trade what you see. Write what you feel
  • #37,394
  • Dec 9, 2011 1:03am Dec 9, 2011 1:03am
Quoting e_piz
It has been intelligent breaking 1.035 yesterday on a false breakout. Being stupid today is the best intelligent thing to do. Most people will be waiting for a retracement before re-entering.
the 61.8 retrace has passed at 1.009ish.... I guess lets see where we go now~
  • #37,395
  • Dec 9, 2011 1:03am Dec 9, 2011 1:03am
Quoting ragnakore
My target is 1.0060 which is a congestion area since last week.
Will re-enter if it breaks parity (sorry for vulgar words.. typo error).
wtf.. bouncing off 1.0060 BID (no 1.0060 ask on my broker)....
  • #37,396
  • Dec 9, 2011 1:03am Dec 9, 2011 1:03am
Quoting e_piz
It has been intelligent breaking 1.035 yesterday on a false breakout. Being stupid today is the best intelligent thing to do. Most people will be waiting for a retracement before re-entering.
In the end I have to stick with my current approach: whoever win, I join

The breaking lower is quite a convincing bearish 30M marubozu, short we go!
The tone of your words reflects the quality and result of your trading ;-)
  • #37,397
  • Dec 9, 2011 1:07am Dec 9, 2011 1:07am
Quoting isaacyassar
In the end I have to stick with my current approach: whoever win, I join

The breaking lower is quite a convincing bearish 30M marubozu, short we go!

Close my short on 55pip +, my job is calling me, will join back during london open. Trade safe all.
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Trade what you see. Write what you feel
  • #37,398
  • Dec 9, 2011 1:16am Dec 9, 2011 1:16am
Quoting ragnakore
wtf.. bouncing off 1.0060 BID (no 1.0060 ask on my broker)....
KaCHING... that last trades gave my account a nice +60% profit... though I started it yesterday with a -20%
im all out (except for a small USDJPY long)...

Waiting to short circa 1.0100 (waiting for confirmation)
or short at break of 1.000 (no need for confirmation)
  • #37,399
  • Dec 9, 2011 1:19am Dec 9, 2011 1:19am
Quoting ragnakore
KaCHING...
im all out (except for a small USDJPY long)...
short GU @5595, TP 5500.. No SL, Ill cut loss if i see reversal.
Trade what you see. Write what you feel
  • #37,400
  • Dec 9, 2011 1:28am Dec 9, 2011 1:28am
Quoting e_piz
Close my short on 55pip +, my job is calling me, will join back during london open. Trade safe all.
That's nice. I closed my short after 15M for 17 pip because I like it fast. Will consider if there will be a nice retracement opportunity

Market is simple after the hundred pip move south earlier today. I still expect to see twists and intrigue come into play, where intelligence and power strives to serve different purposes
The tone of your words reflects the quality and result of your trading ;-)
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