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AUD/USD

  • #45,721
  • May 30, 2012 6:42am May 30, 2012 6:42am
13 short positions says this pair is bear.

Attached Image (click to enlarge)
Click to Enlarge Name: au1.png Size: 176 KB
  • #45,722
  • May 30, 2012 6:44am May 30, 2012 6:44am
Quoting fosking
13 short positions says this pair is bear.

Attachment
Im quite fond of your chart layout. Very minimalistic.
  • #45,723
  • May 30, 2012 6:46am May 30, 2012 6:46am
Quoting HotBiscuits
Im quite fond of your chart layout. Very minimalistic.
Thank you, less is more sometimes.
  • #45,724
  • May 30, 2012 7:10am May 30, 2012 7:10am
Quoting Daytrader74
It can go up to 99% Draw down
Well, how is that a "trading plan"? What is the point? If the "system" assumes "oh well, you just might experience 99% drawdown, but sure, you'll recover from that so no problem"
  • #45,725
  • May 30, 2012 7:10am May 30, 2012 7:10am
Quoting Daytrader74
Thank you.
Shouldn't be too long, I already recovered 36.85% in 5 days
Why don't you mention about your 95% drawdown? I don't know your account size and the kind of leverage you are using but you seem to be trading without SL and overleveraging. Remember the market can remain solvent longer than your account does.
  • #45,726
  • May 30, 2012 7:29am May 30, 2012 7:29am
Quoting fosking
13 short positions says this pair is bear.

Attachment
I've shorted the AUD/USD 17 times in 2½ weeks for 17 winners and 882 pips... looks short to me
In the days of old when sailors were bold, and seldom if ever contented.
  • #45,727
  • May 30, 2012 7:33am May 30, 2012 7:33am
Quoting pt49
I've shorted the AUD/USD 17 times in 2½ weeks for 17 winners and 882 pips... looks short to me
Great job!
This net short is currently up +1300 pips that I started building last night.

I've got the Dow down close to some nice support so if it breaks, 9657 on AU could be on the cards.
  • #45,728
  • May 30, 2012 7:36am May 30, 2012 7:36am
Quoting Daytrader74
You can do it...look at me I came back from -71.38% to +36.85% in 5 days, believe in yourself and stay focused and determined and you can do it.
It is clear with these numbers that your risk is very high. Your account already suffered one huge blow and I can assure you that if you continue to trade with such high risk, statisically you will eventually blow your account. Look at your "Risk of Ruin" statistics.

But who am I to judge and why should I care.
  • #45,729
  • May 30, 2012 7:37am May 30, 2012 7:37am
Quoting jayjb
Why don't you mention about your 95% drawdown? I don't know your account size and the kind of leverage you are using but you seem to be trading without SL and overleveraging. Remember the market can remain solvent longer than your account does.
  • #45,730
  • May 30, 2012 9:28am May 30, 2012 9:28am
too heavy go up,bias 'll continue to the bottom in Asia season...
  • #45,731
  • May 30, 2012 9:46am May 30, 2012 9:46am
Quoting fosking
13 short positions says this pair is bear.

Attachment
All closed. +1257 pips in less than 24hrs. Best result in my trading career so far. Off to buy some beer and a Chinese. Good luck all.
  • #45,732
  • May 30, 2012 11:36am May 30, 2012 11:36am
Quoting fosking
All closed. +1257 pips in less than 24hrs. Best result in my trading career so far. Off to buy some beer and a Chinese. Good luck all.

Amazing! Well earnt chinese lol
  • #45,733
  • Edited 1:12pm May 30, 2012 12:57pm | Edited 1:12pm
Hmmm...,

has anyone noticed this?:

29/02/2012 -> 1.0861
04/10/2011 -> 0.9388

78.6% retracement between those values = 0.9697, and here we are...

[EDIT] And while EU carves new mins, AU stands above...
Use me as a contrarian indicator
  • #45,734
  • May 30, 2012 1:23pm May 30, 2012 1:23pm
i have no problem if Aud back to 1.08
  • #45,735
  • May 30, 2012 3:27pm May 30, 2012 3:27pm
Quoting mrbandwidth
Hmmm...,

has anyone noticed this?:

29/02/2012 -> 1.0861
04/10/2011 -> 0.9388

78.6% retracement between those values = 0.9697, and here we are...

[EDIT] And while EU carves new mins, AU stands above...
Yes we are at the 78.6% retracement on the AUD/USD monthly chart, so its fair to assume we at or near the bottom of this aussie bear, within a hundred or so pips maybe.

To buy based on this you'd need a stop of 305 pips for a 3:1 reward to risk trade

I'm of the opinion the aussie can reach $1.30 within 12 months or so, maybe we are close to the turning point on that trek up, who knows?
In the days of old when sailors were bold, and seldom if ever contented.
  • #45,736
  • May 30, 2012 4:21pm May 30, 2012 4:21pm
Quoting bbakker
But who am I to judge and why should I care.
Thats the best part I like about your message
  • #45,737
  • May 30, 2012 4:25pm May 30, 2012 4:25pm
Being dyslexic has its issues:

Reward to risk ratio:
3 (reward) : 1 (risk)?
900 (TP) : 300 (SL)?

Anyone able to confirm for me? Sorry for seemingly stupid questions to all you vets.

Update:

Went short at 0.9780.

Currently my practice account trial of going from $100:$1000 before I go live is sitting at 31% net profit, 15% realised.
  • #45,738
  • May 30, 2012 6:06pm May 30, 2012 6:06pm
AUD/USD .9692

Looks awful doesnt it ?
A few buyers hangin around at .9670
.9640 and we slide to .9380
Aussie cash rates heading below 2.50% suggested in Dec futures.

Its bleak and we need a few routs to squeeze out the bottom pickers.

Watch also for a massive USD rally breweing as technical wizards are now calling
Some of my favourite pals are calling for 0.80 EUR/USD in the next couple of years and this no doubt will drag Aussie but I expect the EUR/AUD to be sold heavily

For today any rally must be belted and join the snowball once .9640 breaks decisively.
  • #45,739
  • May 30, 2012 6:34pm May 30, 2012 6:34pm
what'up no reaction to the news..anybody knows?
  • #45,740
  • May 30, 2012 6:43pm May 30, 2012 6:43pm
0.9720 would be a number to watch now..
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