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AUD/USD

  • #39,061
  • Jan 17, 2012 3:54pm Jan 17, 2012 3:54pm
My view. More upside perhaps.
Attached Image (click to enlarge)
Click to Enlarge Name: aussie1.gif Size: 18 KB
" If I can't be my own, I'd feel better dead" - Alice In Chains
  • #39,062
  • Jan 17, 2012 4:06pm Jan 17, 2012 4:06pm
I like the little push at the end of the hour to create a bull flag on the hourly
  • #39,063
  • Jan 17, 2012 4:28pm Jan 17, 2012 4:28pm
looking again now it certainly appears that 0380 held despite that dip

market long @ 1.0378
limit long @ 1.0355

stopped below today's hourly support

target.. 1.0520
Any prices quoted are futures
  • #39,064
  • Jan 17, 2012 4:47pm Jan 17, 2012 4:47pm
long @1.0380
TP @1.0425

This week has been a bit of a roller coaster week for me. Started off with a bang on Monday as my GBPAUD trades all hit their TPs.

Yesterday kind of sucked as both my EURUSD and AUDUSD trades went the opposite way (negative unrealized losses - as I don't use SLs). Still trading within my money management policy, so it's all fine.

Good luck to everyone.
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #39,065
  • Jan 17, 2012 5:00pm Jan 17, 2012 5:00pm
Quoting rafiqhidayat
long @1.0380
TP @1.0425

This week has been a bit of a roller coaster week for me. Started off with a bang on Monday as my GBPAUD trades all hit their TPs.

Yesterday kind of sucked as both my EURUSD and AUDUSD trades went the opposite way (negative unrealized losses - as I don't use SLs). Still trading within my money management policy, so it's all fine.

Good luck to everyone.
I know this policy - it goes like this

I will exit when the PAIN of losing one more dollar is greater than the PAIN of admitting that I was possibly wrong!

Really, no stop loss but you have money management?

I am very interested in that - can you spare a few crumbs of insight into your strategy?

Thanks
It takes a lot for me to IGNORE you, but you can try.
  • #39,066
  • Jan 17, 2012 5:01pm Jan 17, 2012 5:01pm
Quoting rafiqhidayat
EURUSD
looks like a cup is forming. possibly a 2865 retest
Any prices quoted are futures
  • #39,067
  • Jan 17, 2012 5:05pm Jan 17, 2012 5:05pm
Quoting rafiqhidayat
long @1.0380
TP @1.0425

This week has been a bit of a roller coaster week for me. Started off with a bang on Monday as my GBPAUD trades all hit their TPs.

Yesterday kind of sucked as both my EURUSD and AUDUSD trades went the opposite way (negative unrealized losses - as I don't use SLs). Still trading within my money management policy, so it's all fine.

Good luck to everyone.
Executing trades without stop-loss, yeah that sounds like you have solid money management, good luck to you - I think you'll need it.
Expect the unexpected.
  • #39,068
  • Jan 17, 2012 5:09pm Jan 17, 2012 5:09pm
Quoting redteamgo
looks like a cup is forming. possibly a 2865 retest
Does anyone ever post a chart with the analysis or just throw up random comments like this?

Even information like which time frame could be of some help in decipher the mysterious "cup"

What is the reliability of this pattern, do you know, or just hoping we will agree and trade it on your say so?

just curious, you do know it is still just under 6 HOURS until Europe opens?
It takes a lot for me to IGNORE you, but you can try.
  • #39,069
  • Edited 5:28pm Jan 17, 2012 5:17pm | Edited 5:28pm
Quoting Erebus
Does anyone ever post a chart with the analysis or just throw up random comments like this?

Even information like which time frame could be of some help in decipher the mysterious "cup"

What is the reliability of this pattern, do you know, or just hoping we will agree and trade it on your say so?

just curious, you do know it is still just under 6 HOURS until Europe opens?
excuse me, go fuck yourself. i am not here to give you trading advice nor do I care what you trade. my commentary is soley based on his/her commentary. if you want EUR/USD chart analysis, here is a novel idea.. goto the EUR/USD thread. oh and if you have to ask what the pattern is.. well, you know. not to mention a pattern isnt ever validated until after a move happens. but im sure you knew that too
Attached Image (click to enlarge)
Click to Enlarge Name: temp.jpg Size: 207 KB
Any prices quoted are futures
  • #39,070
  • Jan 17, 2012 5:26pm Jan 17, 2012 5:26pm
Quoting Erebus
Does anyone ever post a chart with the analysis or just throw up random comments like this?
Check previous pages.

Even information like which time frame could be of some help in decipher the mysterious "cup"
Google it.

What is the reliability of this pattern, do you know, or just hoping we will agree and trade it on your say so?
Do your OWN analysis.

just curious, you do know it is still just under 6 HOURS until Europe opens?
Yes, but that's past my bedtime. I'll trade now if you don't mind.
" If I can't be my own, I'd feel better dead" - Alice In Chains
  • #39,071
  • Jan 17, 2012 5:30pm Jan 17, 2012 5:30pm
what's wrong with aussie today? since tokyo opened, euro has gone up by 20 pips and this little aussie is struggling to move 10 pips up.

oh my god.
  • #39,072
  • Jan 17, 2012 5:38pm Jan 17, 2012 5:38pm
Quoting Erebus
[b][color="Blue"]

easy to see how you won 5 vouches
courtesy begets courtesy. if you had been polite i would have been happy to go into detail. my red comment stands. off to ignore you go
Any prices quoted are futures
  • #39,073
  • Jan 17, 2012 5:42pm Jan 17, 2012 5:42pm
Quoting Erebus
Does anyone ever post a chart with the analysis or just throw up random comments like this?

Even information like which time frame could be of some help in decipher the mysterious "cup"

What is the reliability of this pattern, do you know, or just hoping we will agree and trade it on your say so?

just curious, you do know it is still just under 6 HOURS until Europe opens?
U must be on the losing side of the trade
  • #39,074
  • Jan 17, 2012 5:42pm Jan 17, 2012 5:42pm
Quoting Erebus
I know this policy - it goes like this

I will exit when the PAIN of losing one more dollar is greater than the PAIN of admitting that I was possibly wrong!

Really, no stop loss but you have money management?

I am very interested in that - can you spare a few crumbs of insight into your strategy?

Thanks
Answering your quote in red. I don't exit, period.

My strategy is simple. My maximum risk is 15% (generally I keep it around less than 10%)

Example:

Let's say I have a balance of USD 50,000, 15% risk = USD 15,000 (that's the max I will risk at ANY ONE TIME)

So, how does that compute for what I decide to trade.

1. I don't trade USD 15,000. That's suicide / over-leveraging. What I do is I trade a smaller fraction of the amount i.e. up to 10% of that amount (USD 1,500 or 1.5 standard lots - not that I would put all in one trade, I would than put 10% max of that amount i.e. USD 150 or 1.5 mini lots in a trade)
2. This means I have the ability to weather up to USD 13,500 worth of pips (I believe this is about 900 pips) and is I've only put up USD 150 in a trade, I can weather up to USD 14,850 or 9900 pips (which is basically like saying you DO NOT NEED a SL)
3. I combine this with technical and fundamental analysis, and so far.... it has produced the desired results. I do have some trades that are in the red (refer to item #1), but the total impact to my overall funds is still within my acceptable risk limits.

Like I've said before, a trader needs to understand his / her own mentality while trading. It's good to learn from others, but you need to understand your own style. I am comfortable trading like this, and as long as the TRADER is comfortable and know what he / she is doing, I think it should be fine.
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #39,075
  • Jan 17, 2012 5:49pm Jan 17, 2012 5:49pm
Quoting fx-rocket
Executing trades without stop-loss, yeah that sounds like you have solid money management, good luck to you - I think you'll need it.
Please read my answer to someone else.

MONEY MANAGEMENT = HOW YOU MANAGE YOUR MONEY.

As long as your money is managed properly, I don't see the problem of not using a SL.
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #39,076
  • Jan 17, 2012 5:54pm Jan 17, 2012 5:54pm
Quoting happytrader
what's wrong with aussie today? since tokyo opened, euro has gone up by 20 pips and this little aussie is struggling to move 10 pips up.

oh my god.
Could be waiting for the employment data tomorrow ?
  • #39,077
  • Jan 17, 2012 5:59pm Jan 17, 2012 5:59pm
Quoting happytrader
what's wrong with aussie today? since tokyo opened, euro has gone up by 20 pips and this little aussie is struggling to move 10 pips up.

oh my god.
motor vehicle sales news was just released a bit ago, less than expected...its trying to move up anyway, but held back because of that news.
  • #39,078
  • Jan 17, 2012 6:00pm Jan 17, 2012 6:00pm
Quoting rafiqhidayat
Please read my answer to someone else.

MONEY MANAGEMENT = HOW YOU MANAGE YOUR MONEY.

As long as your money is managed properly, I don't see the problem of not using a SL.
OK, so basically you are only risking 1% of your capital on any given trade.
(in your example $150 of a total equity of $15000)

and you allow for price action to recover if the trad goes agains you
insted of having a physical stop loss order, ok If it works for you then I guess it does!
Expect the unexpected.
  • #39,079
  • Jan 17, 2012 6:06pm Jan 17, 2012 6:06pm
Quoting andri66
Could be waiting for the employment data tomorrow ?
yea could be. aussie is in a uptrend now, and it looks like it has a hard time breaking 0390... cmon break it.
  • #39,080
  • Jan 17, 2012 6:14pm Jan 17, 2012 6:14pm
Quoting fx-rocket
OK, so basically you are only risking 1% of your capital on any given trade.
(in your example $150 of a total equity of $15000)

and you allow for price action to recover if the trade goes agains you
instead of having a physical stop loss order, ok If it works for you then I guess it does!
That's how I read those figures, they were all over the place, but realistically the stop loss is 1,000 pips not 9,900 he quoted, for each $150

And how to make money with needing that many pips for $150 profit?

Assuming 1:1 profit target

I think he is suffering from all 3 of these -

Trading Fears - Losing money, Missing Out, Being Wrong

Attached Image (click to enlarge)
Click to Enlarge Name: 1000pips.png Size: 126 KB
It takes a lot for me to IGNORE you, but you can try.
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