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AUD/USD

  • #45,881
  • Jun 1, 2012 4:46am Jun 1, 2012 4:46am
Quoting Daytrader74
I think my account speaks for itself with +120.75% for the week so far.
Well.. although I think 120% in a week is pretty incredible.... the thing that I personally would not feel comfortable with is that based on the pips won on average, and the pips lost on average... you need a 96.6428% win ratio to just break even.

and I'm willing to vet taht such a small margin for error will set you back more often than you may think it would.

but, i don't really know what your doing....so, maybe i'm just wrong here.

X
  • #45,882
  • Jun 1, 2012 5:22am Jun 1, 2012 5:22am
FXstreet.com (Barcelona) - The Aussie dollar is trading in levels last seen in October 2011 as risk aversion is dominating the markets on soft euro zone data out of PMI prints and weaker Chinese manufacturing results.

According to I.Spivak, Currency Strategist at DailyFX, the cross is testing the support zone delimited by the levels around the late November bottom and the 76.4% Fibo retracement, and technical studies would indicate the likeliness of a rebound in the near term.

“We will stand aside for now, looking for an upward correction to yield a selling opportunity”, the expert suggested.

As of writing, AUD/USD is losing 0.75% at 0.9649, facing the next support at 0.9621 followed by 0.9596 then 0.9557 and 0.9518
On the upside, a breakout of 0.9727 would open the door to 0.9775 then 0.9803 and 0.9842
  • #45,883
  • Jun 1, 2012 5:26am Jun 1, 2012 5:26am
Quoting forextraderx
Well.. although I think 120% in a week is pretty incredible.... the thing that I personally would not feel comfortable with is that based on the pips won on average, and the pips lost on average... you need a 96.6428% win ratio to just break even.

and I'm willing to vet taht such a small margin for error will set you back more often than you may think it would.

but, i don't really know what your doing....so, maybe i'm just wrong here.

X
No, you're not wrong.
FF journal: Peaks and Troffs
  • #45,884
  • Jun 1, 2012 5:30am Jun 1, 2012 5:30am
Quoting bogus
No, you're not wrong.
He is actually...
  • #45,885
  • Jun 1, 2012 5:56am Jun 1, 2012 5:56am
Quoting Daytrader74
I think my account speaks for itself with +120.75% for the week so far.
Yeah but didn't you wipe out your account last week? I've been trying to understand your figures on myfxbook.

Cheers,

Ben
  • #45,886
  • Jun 1, 2012 6:27am Jun 1, 2012 6:27am
Entered @ 0.96461.
daddybearforex. com
  • #45,887
  • Jun 1, 2012 6:35am Jun 1, 2012 6:35am
Quoting DaddyBear
Entered @ 0.96461.
Why?
Do you have a chart please?
  • #45,888
  • Jun 1, 2012 6:42am Jun 1, 2012 6:42am
Quoting DaddyBear
Entered @ 0.96461.
be careful, "fake legs"..tight sl. coz bad news coming soon
  • #45,889
  • Jun 1, 2012 6:49am Jun 1, 2012 6:49am
Quoting Daytrader74
I think my account speaks for itself with +120.75% for the week so far.
I think your account speaks for itself with 95% drawdown

In case anyone is thinking of following his trades, please scrutinise his profile properly, he probably doesn't trade with a stop loss and doesn't have a proper plan.

He was down 76% last week and up 120% this week, his average win is 14pips while his average loss is 450pips. Worst trade is a 650pips trade (probably a margin call)

His risk of ruin is pretty ridiculous, he only needs 2 consecutive losses to wipe his whole account, so you can probably guess his leverage.
  • #45,890
  • Jun 1, 2012 7:06am Jun 1, 2012 7:06am
Can anyone suggest a valid reason that brokers increase the minimum stop loss around NFP and similar high volatility times.
IG Markets minimum SL has gone from 5 pips to 20 pips!!
Anyone??
Cheers, Harry The hardest way to make easy money.
  • #45,891
  • Jun 1, 2012 7:08am Jun 1, 2012 7:08am
Quoting HarryJ
Can anyone suggest a valid reason that brokers increase the minimum stop loss around NFP and similar high volatility times.
IG Markets minimum SL has gone from 5 pips to 20 pips!!
Anyone??
News trading is one of the fastest way to earn pips (and lose), why would they make it cheap for you?
  • #45,892
  • Jun 1, 2012 7:22am Jun 1, 2012 7:22am
Quoting jayjb
News trading is one of the fastest way to earn pips (and lose), why would they make it cheap for you?
Well they have lost that round. I won't be trading with that stop loss!!

PS. Their pip spread is still fine.
Cheers, Harry The hardest way to make easy money.
  • #45,893
  • Jun 1, 2012 7:25am Jun 1, 2012 7:25am
Quoting fosking
Why?
Do you have a chart please?
I shorted AUDUSD from 0.96809 to 0.96405. When I go long, I am looking for 50 to 100 pips only. At this point, shorting AUDUSD is too risky even though it could go one more wave down.

It appears to be a bullish wedge to me. In case it moves down again to touch the lower trend line, I will add more long positions.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD-060112.JPG Size: 89 KB
daddybearforex. com
  • #45,894
  • Jun 1, 2012 7:40am Jun 1, 2012 7:40am
Quoting tobafx
don't be hurry to buy back coz wary of big sale tp 0.9610
great weekend, GL guys...+120
  • #45,895
  • Jun 1, 2012 7:42am Jun 1, 2012 7:42am
i dont get it. When news is negative for US, AUD still went down. does anyone know why?
Work like a slave. Live like a king.
  • #45,896
  • Jun 1, 2012 7:47am Jun 1, 2012 7:47am
Quoting ready12799
i dont get it. When news is negative for US, AUD still went down. does anyone know why?
AUD is a risk on currency and USD is a safe haven currency.
  • #45,897
  • Jun 1, 2012 7:57am Jun 1, 2012 7:57am
Quoting ready12799
i dont get it. When news is negative for US, AUD still went down. does anyone know why?
It was a human reaction to bad news. AUDUSD will move up from here. Added more long positions below 0.9600.
daddybearforex. com
  • #45,898
  • Jun 1, 2012 7:57am Jun 1, 2012 7:57am
Quoting fosking
AUD is a risk on currency and USD is a safe haven currency.
thanks for pointing me in the right direction. I'll research that now. bw fosking, since i've been lurking on FF ive come to follow and respect your posts. i've learned alot from you and a few others
Work like a slave. Live like a king.
  • #45,899
  • Jun 1, 2012 8:03am Jun 1, 2012 8:03am
Quoting ready12799
thanks for pointing me in the right direction. I'll research that now. bw fosking, since i've been lurking on FF ive come to follow and respect your posts. i've learned alot from you and a few others
Thank you.

On the chart below I have overlayed the Dow futures on a M5 AU chart. The correlation speaks for itself.

M5
Attached Image (click to enlarge)
Click to Enlarge Name: au3.png Size: 135 KB
  • #45,900
  • Jun 1, 2012 8:14am Jun 1, 2012 8:14am
Quoting fosking
Thank you.

On the chart below I have overlayed the Dow futures on a M5 AU chart. The correlation speaks for itself.

M5
Attachment

AUDUSD will decouple with DOW futures at least for today.
daddybearforex. com
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