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AUD/USD

  • #44,281
  • May 10, 2012 5:34pm May 10, 2012 5:34pm
Quoting piplow
Having worked in the financial sector, the brokers have no need to have positions against you. Thats more so the banks and the funds. The brokers make enough on the spread. Say for example I have 200 000 dollars in my account with reasonable 25:1 leverage. I buy 50 lots at a 2 pip spread. The broker just made 5000 dollars. Personally I'm a scalper and with the amount of trades I take, brokers make at least a few hundred off me a day.
Long story short, the conspiracy theories are ridiculous.
In order to get liquidity some brokers must hedge your position before putting it thru to the bank (conventional bucketshop). Even some ECN's why would the bank take the other side of a trade that can lose? If brokers hedge, then bank wins no matter what via spread... broker loses if customer wins... this creates a problem between the broker and customer.
  • #44,282
  • May 10, 2012 5:37pm May 10, 2012 5:37pm
Quoting piplow
Lets be clear, the banks, funds and firms do. The brokers are more profitable if you keep your money.
absolutely correct.
  • #44,283
  • May 10, 2012 5:38pm May 10, 2012 5:38pm
Quoting cher
they all (FXDD, Alpari and many many...) want you to lose your money. that's all.
Hahaha, damn I've been doing it wrong all these years then. Really Cher, we are the only ones responsible for whether we make or lose. Nothing any broker, bank or fund does should impact on our decisions. Yes banks hunt for stops etc but there's nothing to stop us from having buy orders at new lows where we think others maybe stopping out. Whilst banks can see the stops, they are usually in obvious places.
  • #44,284
  • May 10, 2012 5:39pm May 10, 2012 5:39pm
let's focus on trading. if it can't break 1.0065, it goes to 1.0020 (last low)
Attached Image (click to enlarge)
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  • #44,285
  • May 10, 2012 5:50pm May 10, 2012 5:50pm
Quoting cher
let's focus on trading. if it can't break 1.0065, it goes to 1.0020 (last low)
Amen to that. But I didn't start the conspiracey theories if I remember correctly. Seriously though, some traders in this market have such long timeframes I think that's important to remember. I have seen someone hold a trade for two years that stated out as a short term thing just because it kept running his way. Adding on all the way, trading around his core position. Trading longer timeframes can make you imune to any of the worries you have about whether some sector is out to get you. As for trading, I get it, you think the AUD is going lower. You could well be right judging by what JPMorgan is doing. I'm more interested hearing both sides of any view though.
  • #44,286
  • May 10, 2012 5:51pm May 10, 2012 5:51pm
Ok, your right, My observations are at best an oversimplification...but since 2008 the Aussie has rocketed up...high interest rates, good economy...but maybe with the uncertainty in the Market, hedge funds or others are pulling out of risky assets and the profitable ones like Aussie to make sure they are more liquid in case they get margin called...or their current assets get revalued at far lower prices ( bonds/property)...since 2008 Aussie went from a low of 0.6 to 1.1...someone said average value over past decade was around 0.8, so we are still over valued...hence 0.90 would still be over valued but workable by government/industry/tourism
  • #44,287
  • May 10, 2012 6:10pm May 10, 2012 6:10pm
Quoting Hyperion
Amen to that. But I didn't start the conspiracey theories if I remember correctly. Seriously though, some traders in this market have such long timeframes I think that's important to remember. I have seen someone hold a trade for two years that stated out as a short term thing just because it kept running his way. Adding on all the way, trading around his core position. Trading longer timeframes can make you imune to any of the worries you have about whether some sector is out to get you. As for trading, I get it, you think the AUD is going lower....
you wanna keep talking? you said "I am an independant trader who trades for myself and some clients I've had for 20 yrs"

then why you said "LONG" when price was 1.0090 at that time when market was falling sharply to 1.0050?

you can go back and see all post.
  • #44,288
  • May 10, 2012 6:22pm May 10, 2012 6:22pm
mini bull here.
  • #44,289
  • May 10, 2012 6:26pm May 10, 2012 6:26pm
Quoting sidhujag
In order to get liquidity some brokers must hedge your position before putting it thru to the bank (conventional bucketshop). Even some ECN's why would the bank take the other side of a trade that can lose? If brokers hedge, then bank wins no matter what via spread... broker loses if customer wins... this creates a problem between the broker and customer.
As proof I use FXCM and when I look at the tick chart and take a trade during off Asian hours I always notice price jumps the opposite way a tiny bit. Thought my 1-3 lots weren't big enough for that and was coincidence... but noticed it again and again so its probably right... even though they claim they don't they all do... makes sense that when retailers short market rises because they are actually going long.
  • #44,290
  • May 10, 2012 6:31pm May 10, 2012 6:31pm
Quoting cher
you wanna keep talking? you said "I am an independant trader who trades for myself and some clients I've had for 20 yrs"

then why you said "LONG" when price was 1.0090 at that time when market was falling sharply to 1.0050?

you can go back and see all post.
Yes if if you can read you'll see I said was was long from yesterday just before the Aussie employment number (1.0060 at the time) and had a breakeven stop loss. What's wrong with you? I won't respond to you again. I hope you are right and make enough money to buy some glasses.
  • #44,291
  • May 10, 2012 6:45pm May 10, 2012 6:45pm
Quoting Hyperion
I hope you are right and make enough money to buy some glasses.
  • #44,292
  • Edited 7:00pm May 10, 2012 6:49pm | Edited 7:00pm
Quoting Hyperion
Yes if if you can read you'll see I said was was long from yesterday just before the Aussie employment number (1.0060 at the time) and had a breakeven stop loss. What's wrong with you? I won't respond to you again. I hope you are right and make enough money to buy some glasses.
You did NOT get my point of view. It doesn't change anything, other traders saw it like a fake "LONG", they would lose their funds.

glasses
  • #44,293
  • May 10, 2012 6:57pm May 10, 2012 6:57pm
Dear experts, please advise me, I am new day trader, but today struck when long at 1.01280, and still waiting when AUD will go up? there is any chance to reach again 1.01280, I will get my position back, waiting your reply please,
  • #44,294
  • May 10, 2012 7:01pm May 10, 2012 7:01pm
Quoting ahmad37
Dear experts, please advise me, I am new day trader, but today struck when long at 1.01280, and still waiting when AUD will go up? there is any chance to reach again 1.01280, I will get my position back, waiting your reply please,
If you are a beginner like me, stick to high and low, yesterday's low was around 1.0040 area, and high was 1.0143 area. Don't buy when its at around its high. The high got tested almost 3 times. before moving lower into 1.0120 area and slipping into 1.0100 then into 1.0080 during new york hours.

How much lot size and margin are u using? how much % current in red?
this is my life
  • #44,295
  • May 10, 2012 7:11pm May 10, 2012 7:11pm
mr ahmad,
what came down will come back up...
no worries..just a matter of time.
it won't be long i guess..
  • #44,296
  • May 10, 2012 7:15pm May 10, 2012 7:15pm
Quoting ahmad37
Dear experts, please advise me, I am new day trader, but today struck when long at 1.01280, and still waiting when AUD will go up? there is any chance to reach again 1.01280, I will get my position back, waiting your reply please,
Sure it can although it might fall to 1.0 before that? Nobody can tell you that for sure.

What was your plan for the entry / exit, do you have a stop-loss? It might be better if you swallow the bitter pill and close the position before getting in an even bigger mess.
  • #44,297
  • May 10, 2012 7:21pm May 10, 2012 7:21pm
Quoting Ati_82
Sure it can although it might fall to 1.0 before that? Nobody can tell you that for sure.

What was your plan for the entry / exit, do you have a stop-loss? It might be better if you swallow the bitter pill and close the position before getting in an even bigger mess.
Thanks PROFX and ATI,
what do you think, AUD is waiting for next news? becas I am worry, when its reach 1.00200, I will be out due to margin,
  • #44,298
  • May 10, 2012 7:22pm May 10, 2012 7:22pm
Hi Ahmed,
I would suggest that if it did trade back up to your entry then it would look good to go higher still (maybe on a longer timeframe then your original plan). Having said that, you need a stop loss. Trading is just a game of trying to ensure that your profits are a multiple of your initial loss. Remember computer studies have proven that if you flip a coin to decide a trade BUT aim for 3 to 5 times profit of your initial risk, then you will make money. All we are trying to do is add value to the process and pretend it was our skill
  • #44,299
  • May 10, 2012 7:22pm May 10, 2012 7:22pm
Long Aud @1.0060 TP @1.0085 SL @1.0049
  • #44,300
  • May 10, 2012 7:36pm May 10, 2012 7:36pm
Quoting Daytrader74
Long Aud @1.0060 TP @1.0085 SL @1.0049
i miss out that entry at 1.0053 as i thought may fall further when. 1 min , 5 min and 15min all push into 1.0075. with 5min crossing the moving average.
this is my life
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