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  • #43,941
  • May 7, 2012 4:21pm May 7, 2012 4:21pm
Quoting KillerWhale
Yeah those things happen a lot.
Unfortunately they seem to be be occurring with increasing frequency on my end. I t is not that I have lost my nerve......but ......it just seems that I do not have any direction at the current time where anything is heading.

I need to regain my focus.
  • #43,942
  • May 7, 2012 4:25pm May 7, 2012 4:25pm
Quoting KillerWhale
Too bad I didn't go long yesterday
Missed a 100 pips or so

I went 1 long on AUD/USD EUR/USD USD/JPY AUD/JPY GBP/USD

they were all sitting on strong bottoms.. picked up around 20 points on each and still long AUD

I was holding 2 AUD/USD longs over the eekend (last time I do that) and burnt 100 points pretty quick so i am at = now
  • #43,943
  • May 7, 2012 4:25pm May 7, 2012 4:25pm
Quoting Snarkalarker
Dont feel bad I took a short last week. It surpassed my target but I got out way before my target was reached. Could have been a realy good trade had I stuck to my guns.
Yes it would be good if life gave us a rewind button.
If we aren't supposed to eat animals..... why are they made out of meat??
  • #43,944
  • May 7, 2012 4:32pm May 7, 2012 4:32pm
Quoting MitchL
I went 1 long on AUD/USD EUR/USD USD/JPY AUD/JPY GBP/USD

they were all sitting on strong bottoms.. picked up around 20 points on each and still long AUD

I was holding 2 AUD/USD longs over the eekend (last time I do that) and burnt 100 points pretty quick so i am at = now
Aud is not the smartest pair to hold over the weekend
New voice message: Why are you calling me? If I need you, I'll call you!
  • #43,945
  • May 7, 2012 4:34pm May 7, 2012 4:34pm
Quoting Snarkalarker
Unfortunately they seem to be be occurring with increasing frequency on my end. I t is not that I have lost my nerve......but ......it just seems that I do not have any direction at the current time where anything is heading.

I need to regain my focus.
Don't feel bad dude just remember the best traders are strugglign with this market... only a few are making real money (those are the ones pushing price)... their job is to keep you guessing and padding their wallets. Now that there is more money the moves are that much more erratic. This is the new market and it will evolve into another beast... the money printing has caused chaos in the market... even though it might be rising its not really rising on solid fundi's its really just madness before a correction followed by more madness. You may want to look at larger TF's since your MM will be better it will be harder for brokers and like to push to your SL.
  • #43,946
  • May 7, 2012 4:48pm May 7, 2012 4:48pm
Quoting KillerWhale
Aud is not the smartest pair to hold over the weekend
Yeah I got a bit carried away on the technicals. AUD should be greater than parity and figured it had run too far over the week. Thought we would see an open up around 50-60 pips.

BUT....

Was a lesson learned and I managed to trade the losses back in 24 hours so not too painfully.
  • #43,947
  • May 7, 2012 4:51pm May 7, 2012 4:51pm
Quoting MitchL
Yeah I got a bit carried away on the technicals. AUD should be greater than parity and figured it had run too far over the week. Thought we would see an open up around 50-60 pips.

BUT....

Was a lesson learned and I managed to trade the losses back in 24 hours so not too painfully.
I'm just wondering where it will go from here
New voice message: Why are you calling me? If I need you, I'll call you!
  • #43,948
  • May 7, 2012 5:14pm May 7, 2012 5:14pm
Quoting KillerWhale
I'm just wondering where it will go from here

Still feel slike it has some room to go north.

I would expect our lovely Treasurer will throw a very "Hawkish" budget out tonight which should give it a little push.

It is just so hard cause each different time frame candle shows a different trend right now. My trading system has just evolved into a simple. look for a resistance point get on with a 10-15 point stop and get your stop loss to where you bought the currency as quickly as possible.

Seems to be working alright but I must remember this is such a short term theory that the over weekend trades are definately out. Missed a nice little opportunity on the Kiwi this morning hit a fairly nice little low and bounced 15 points so far.
  • #43,949
  • May 7, 2012 5:15pm May 7, 2012 5:15pm
I guess the the current Volatility warrants breakout trade with buy/sell stops
also need to keep an eye on VIX
  • #43,950
  • May 7, 2012 5:20pm May 7, 2012 5:20pm
Quoting MitchL
Still feel slike it has some room to go north.

I would expect our lovely Treasurer will throw a very "Hawkish" budget out tonight which should give it a little push.

It is just so hard cause each different time frame candle shows a different trend right now. My trading system has just evolved into a simple. look for a resistance point get on with a 10-15 point stop and get your stop loss to where you bought the currency as quickly as possible.

Seems to be working alright but I must remember this is such a short term theory that the...
I'll wait a bit for some more volatility and then just scalp a couple of 1000 pips
New voice message: Why are you calling me? If I need you, I'll call you!
  • #43,951
  • May 7, 2012 5:37pm May 7, 2012 5:37pm
Quoting KillerWhale
I'll wait a bit for some more volatility and then just scalp a couple of 1000 pips

Good plan.. When you see those couple of thousand pips can you just throw me a quick "heads up" on where they are coming from... I'll put a few hundred units on it and retire
  • #43,952
  • May 7, 2012 5:38pm May 7, 2012 5:38pm
Quoting MitchL
Good plan.. When you see those couple of thousand pips can you just throw me a quick "heads up" on where they are coming from... I'll put a few hundred units on it and retire
Right, that's the way to do it
New voice message: Why are you calling me? If I need you, I'll call you!
  • #43,953
  • Edited 6:26pm May 7, 2012 5:52pm | Edited 6:26pm
Looks like the AUD is testing last nights high ... lets see if it breaks ??

I am long 2 units

1 @1.0153 (sold a 1.0120 @ 1.0158 and bought back at 1.0153 )
1 @1.02068

currently around +65 pips
  • #43,954
  • May 7, 2012 6:09pm May 7, 2012 6:09pm
Short AUD @1.0215 TP @1.0175 SL @1.0255
  • #43,955
  • May 7, 2012 6:13pm May 7, 2012 6:13pm
Will the trade balance in 2 hours decide if the break of the bear trend line on h4 is valid? Or will we fall even deeper?
  • #43,956
  • May 7, 2012 6:28pm May 7, 2012 6:28pm
Quoting Daytrader74
Short AUD @1.0215 TP @1.0175 SL @1.0255

Right now that's looking pretty healthy
  • #43,957
  • May 7, 2012 7:06pm May 7, 2012 7:06pm
imo that daily looking warmed up for bulls, im more worried over the unemployment rate, as ive heard aus has been cutting a few jobs, im not exactly sure how much but maybe it will be balanced out by the mining sector, 4h is showing me a minor correction signal, not fully sell now but suggest bull is wanting a little rest, the trade balance will be good (just because im long)

ive noticed a bit latley that if there is going to be a good report, price goes low before the event, an vice versa if its a bad report, doesnt always happen but happens more times then not, on tick or 5m
  • #43,958
  • May 7, 2012 7:12pm May 7, 2012 7:12pm
Quoting jayjb
Will the trade balance in 2 hours decide if the break of the bear trend line on h4 is valid? Or will we fall even deeper?
I'm forecasting the trade balance to be around 0.66B, how much movement would that give? given the forecast is at -1.38B.
  • #43,959
  • May 7, 2012 7:16pm May 7, 2012 7:16pm
Quoting Daytrader74
Short AUD @1.0215 TP @1.0175 SL @1.0255
Why 1.0175? 1.0180 makes more sense to me
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  • #43,960
  • May 7, 2012 7:17pm May 7, 2012 7:17pm
Quoting tigershin
I'm forecasting the trade balance to be around 0.66B, how much movement would that give? given the forecast is at -1.38B.
New one to me.

According to my records this is the first time I have seen a forecast number to be on the negative side.

On the other hand when the forecast number was a positive but the release came out as being negative big movements did occur.

All others...not much movement to speak of.
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