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AU specializing: advice please

  • #1
  • First Post: Dec 11, 2011 11:45pm Dec 11, 2011 11:45pm
Have been trading for 2 years, I always feel strong resonance with the idea of "specialize in a pair and be an ace there".

After tired of using systems and systems (mostly mechanical = indicator based etc), I think it's about time for me to really use my head (instead of mechanical systems) to trade AU and specialize in doing it. I always love AU btw.

My current trading approach is to recognize conflicts of interest in the market and join the stronger/winning side (usually the cunning side ), definitely not mechanical anymore. Short term is my fave.

If you are doing well with AU or you believe to know pretty much about AU, please share some insights and advice for me in relationship with trying to specialize in AU. Pretty much about what you did to become an AU ace.

That would be well appreciated

PS: I am actively following interactive AUD/USD thread already =)
The tone of your words reflects the quality and result of your trading ;-)
  • #2
  • Dec 12, 2011 3:33pm Dec 12, 2011 3:33pm
I am not an AU specialist and neither trade it very often.

and whats the point these days anyway to specialize in a such a pair. Market moves with Eurusd. You specialize in eu and you specialized almost all the market (well there could be exceptions).

But i can certainly give advise you on howto become better at trading AU or any other pair for that matter,

Track a news feed or two all day reading everything about the pair you'r interested in and monitor the charts (5M to Daily,... preferably) alongside.

In a matter of months you should be able to develop a strong understanding of how the pair behaves. You will start to see patterns that could be exploited.

Also for AU, you better keep an eye on Chinese economy as it effects AU more than it does Yuan. lol
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  • #3
  • Dec 12, 2011 5:15pm Dec 12, 2011 5:15pm
Quoting nasir.khan
and whats the point these days anyway to specialize in a such a pair. Market moves with Eurusd. You specialize in eu and you specialized almost all the market (well there could be exceptions).
Right now, every time an EU official breathes it moves global markets, but that's only right now. Otherwise every pair moves according to its own relative fundamentals.

isaacyassar, I dont' know your typical trade duration, but I've learned on a multi day-week basis AU tends to trend fairly smoothly and steadily. Not sure about day trading it, but for me it's one of the better set-n-forget pairs.
  • #4
  • Dec 12, 2011 10:19pm Dec 12, 2011 10:19pm
Quoting nasir.khan
I am not an AU specialist and neither trade it very often.

and whats the point these days anyway to specialize in a such a pair. Market moves with Eurusd. You specialize in eu and you specialized almost all the market (well there could be exceptions).

But i can certainly give advise you on howto become better at trading AU or any other pair for that matter,

Track a news feed or two all day reading everything about the pair you'r interested in and monitor the charts (5M to Daily,... preferably) alongside.

In a matter of months you should be...
Thanks. The yuan stuff is interesting. Will monitor it
The tone of your words reflects the quality and result of your trading ;-)
  • #5
  • Last Post: Dec 12, 2011 10:23pm Dec 12, 2011 10:23pm
Quoting Rob Mondave
Right now, every time an EU official breathes it moves global markets, but that's only right now. Otherwise every pair moves according to its own relative fundamentals.

isaacyassar, I dont' know your typical trade duration, but I've learned on a multi day-week basis AU tends to trend fairly smoothly and steadily. Not sure about day trading it, but for me it's one of the better set-n-forget pairs.
I agree. EU stuff makes people jumpy in these few days. I also follow it as i find it rather interesting

I trade very short term, usually watch 1H, 30M, and 15M candle. I like fast paced action, quick in quick out with low risk & target
The tone of your words reflects the quality and result of your trading ;-)
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