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AUD/USD

  • #41,321
  • Mar 4, 2012 6:13pm Mar 4, 2012 6:13pm
Quoting e585009
Is the US dollar really stronger than the Aussie at this time (doubt it) , OR are there just more Bears that BULLS at this time? Also, is there a was to see Bull vs Bear power against a currency pair?
Trade according to your own analysis, prodding for answers won't work as many traders will have different opinions.
  • #41,322
  • Mar 4, 2012 6:25pm Mar 4, 2012 6:25pm
Quoting lasty
AUD/USD @1.0741

Whats it doing up here ?

Rumours that this week is when Greece says good bye to the Euro.
Spain has been caught BS its numbers.
Our Australian Treasurer ha...
Lasty, i wont comment cause i'm in short @1.0732 , can't be objective, but nice to see shorts here...
AUD is not God. Very tight SL anyway, )
I'll shop after the drop
  • #41,323
  • Mar 4, 2012 6:29pm Mar 4, 2012 6:29pm
Not doing anything until I see these Job Numbers at least. So many mixed opinions. Already closed short from Thursday in profit.

EDIT:
News came back at 2.7% lower than last month. Buy Stop increased above a resistance point, Sell Stop in place for if 1.07170 breaks.
  • #41,324
  • Mar 4, 2012 7:14pm Mar 4, 2012 7:14pm
US mining sector sales up 40% from 2010Q3 to 2011Q3...
Source; US Census.

Tornadoes; the only problem...
I'll shop after the drop
  • #41,325
  • Mar 4, 2012 7:23pm Mar 4, 2012 7:23pm
aussie candlesticks/PA look very weird and unnatural today.
  • #41,326
  • Mar 4, 2012 7:33pm Mar 4, 2012 7:33pm
It's Monday wait for price to make a range in Asian, wait for false break at beginning of London to bust the stops then shoot opposite for real break. . Just a thought?

happytrader : Is your '10 bullets per week' the number of trades or pips? Just curious.
  • #41,327
  • Mar 4, 2012 7:45pm Mar 4, 2012 7:45pm
Quoting Rokz
It's Monday wait for price to make a range in Asian, wait for false break at beginning of London to bust the stops then shoot opposite for real break. . Just a thought?

happytrader : Is your '10 bullets per week' the number of trades or pips? Just curious.
it's the number of trades... i've already used 2 bullets today.... lol. i think the number of trades corresponds inversely to my number of green pips. ( i keep a trading journal)

here's my results for the past 6 weeks.

Week 1 = +91 pips ; 10 trades
Week 2 = +44 pips ; 24 trades
Week 3 = +26 pips ; 13 trades
Week 4 = -122 pips ; 33 trades
Week 5 = +42 pips ; 31 trades
Week 6 = +11 pips ; 22 trades.

week 1 i stick to my plan very very strictly ...then.. as you can see, my results started to decline with the increased no. of trades per week.....
  • #41,328
  • Mar 4, 2012 7:47pm Mar 4, 2012 7:47pm
Quoting happytrader
it's the number of trades... i've already used 2 bullets today.... lol. i think the number of trades corresponds inversely to my number of green pips. ( i keep a trading journal)

here's my results for the past 6 weeks.

Week 1 = +91 pips ; 10 trades
Week 2 = +44 pips ; 24 trades
Week 3 = +26 pips ; 13 trades
Week 4 = -122 pips ; 33 trades
Week 5 = +42 pips ; 31 trades
Week 6 = +11 pips ; 22 trades.

week 1 i stick to my plan very very strictly ...then.. as you can see, my results started to decline with the increased...
Ahhh nice work, I also keep a journal but it's using a daily strategy with a lot of pairs. Those figure are solid proof that over trading will kill your wallet. Is that only using AUSUSD?

Already two bullets for this week? Maybe you should not trade Monday's or DEMO trade Monday's to fulfil your addiction(That we all have). Therefore the market may have chosen a direction for the week.
  • #41,329
  • Mar 4, 2012 7:53pm Mar 4, 2012 7:53pm
Quoting Rokz
Ahhh nice work, I also keep a journal but it's using a daily strategy with a lot of pairs. Those figure are solid proof that over trading will kill your wallet. Is that only using AUSUSD?
yea over trading = revenge trading....

i only trade audusd and eurusd. i'm thinking of sticking to just one currency...cos i'm still struggling to make a constant and reasonable amount of profit yet... even after 1 year of trading..
  • #41,330
  • Mar 4, 2012 7:59pm Mar 4, 2012 7:59pm
Quoting happytrader
yea over trading = revenge trading....

i only trade audusd and eurusd. i'm thinking of sticking to just one currency...cos i'm still struggling to make a constant and reasonable amount of profit yet... even after 1 year of trading..
Maybe you need to also define your trading time. Two pairs should be fine. Those two are my main two also.
  • #41,331
  • Mar 4, 2012 8:00pm Mar 4, 2012 8:00pm
Quoting Rokz
Ahhh nice work, I also keep a journal but it's using a daily strategy with a lot of pairs. Those figure are solid proof that over trading will kill your wallet. Is that only using AUSUSD?

Already two bullets for this week? Maybe you should not trade Monday's or DEMO trade Monday's to fulfil your addiction(That we all have). Therefore the market may have chosen a direction for the week.
haha, yea... i usually lose on monday. monday's a weird day....

what kind of trader are you? scalper, swing trader etc? mind sharing a bit of your set up/strategy or tips? i'm trying to get as much help as possible.. i'm a full time trader...at the moment...
  • #41,332
  • Mar 4, 2012 8:14pm Mar 4, 2012 8:14pm
Quoting happytrader
haha, yea... i usually lose on monday. monday's a weird day....

what kind of trader are you? scalper, swing trader etc? mind sharing a bit of your set up/strategy or tips? i'm trying to get as much help as possible.. i'm a full time trader...at the moment...
I WISH I was full time trading, not confident enough yet. I have a fulltime job. At the moment I am following this thread,

http://www.forexfactory.com/showthread.php?t=331098
and use a variation of this for the AU and EU short timeframes for a decent entry
http://www.forexfactory.com/showthread.php?t=315572

If I enter on a short timeframe it MUST be inline with a larger trend, I also move my stop to BE + a few as soon as possible. It's more stop outs but it's not a loss. Even on the short timeframes I move it as early as 12pips.
  • #41,333
  • Mar 4, 2012 8:27pm Mar 4, 2012 8:27pm
Quoting Rokz
I WISH I was full time trading, not confident enough yet. I have a fulltime job. At the moment I am following this thread,

http://www.forexfactory.com/showthread.php?t=331098
and use a variation of this for the AU and EU short timeframes for a decent entry
http://www.forexfactory.com/showthread.php?t=315572

If I enter on a short timeframe it MUST be inline with a larger trend, I also move my stop to BE + a few as soon as possible. It's more stop outs but it's not a loss. Even on the short timeframes I move it as early as...
thanks!
  • #41,334
  • Mar 4, 2012 8:34pm Mar 4, 2012 8:34pm
Quoting happytrader
thanks!
This is my layout for the 5min screen. The daily layout is super basic and only has one MA.

http://i39.tinypic.com/4huk1u.png
  • #41,335
  • Mar 4, 2012 8:38pm Mar 4, 2012 8:38pm
Quoting Rokz
This is my layout for the 5min screen. The daily layout is super basic and only has one MA.

http://i39.tinypic.com/4huk1u.png
i see, do you trade 5 min chart often?
  • #41,336
  • Mar 4, 2012 9:20pm Mar 4, 2012 9:20pm
What do you guys think. Would an unchanged AUD Cash Rate of 4.25% lean positively or negatively on the Aussie? Any thoughts?
  • #41,337
  • Edited 10:01pm Mar 4, 2012 10:00pm | Edited 10:01pm
Quoting TheTonik
What do you guys think. Would an unchanged AUD Cash Rate of 4.25% lean positively or negatively on the Aussie? Any thoughts?
I would think it would be slightly more positive than negative
The banks have already put their interest rates up and seeing as last time the RBA was expected to drop the rate an unchanged rate again might suggest that the economy is going better than forecast previously

Anyone else agree with this or am I way off?
  • #41,338
  • Mar 4, 2012 10:04pm Mar 4, 2012 10:04pm
Quoting TheTonik
What do you guys think. Would an unchanged AUD Cash Rate of 4.25% lean positively or negatively on the Aussie? Any thoughts?
It can be interpreted either way. Depending on the trader on the day, can spike up and slam down, can spike down and shoot up.

Personally it's more positive and shows strength in the economy. Long term, positive.

BUUUT I hope they drop it cause I want my houses paid of sooner .
  • #41,339
  • Mar 4, 2012 10:06pm Mar 4, 2012 10:06pm
Quoting TheTonik
What do you guys think. Would an unchanged AUD Cash Rate of 4.25% lean positively or negatively on the Aussie? Any thoughts?
The cash rate is priced in, what you want to read is the minutes after. If it is negative sounding you can sell the bounce, if its not you can buy the dip... thats assuming no surprise for the rate.
  • #41,340
  • Mar 4, 2012 10:08pm Mar 4, 2012 10:08pm
Quoting happytrader
haha, yea... i usually lose on monday. monday's a weird day....

what kind of trader are you? scalper, swing trader etc? mind sharing a bit of your set up/strategy or tips? i'm trying to get as much help as possible.. i'm a full time trader...at the moment...

When I code EA"s I tend to avoid Fridays and Mondays... usually unpredictable
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