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AUD/USD

  • #46,301
  • Jun 5, 2012 8:12am Jun 5, 2012 8:12am
Thks mat, any suggestion which book will help me?
  • #46,302
  • Jun 5, 2012 8:19am Jun 5, 2012 8:19am
Got my face ripped off by the market today, my RBA trend strategy lost 20 pips (after being 45 in profit) and three times the market moved against me in an unexpected way. 4 trades all losers in a day (I average about 2 trades a day) just makes you want to give up the game. The psychology part of trading can be tough.
  • #46,303
  • Jun 5, 2012 8:21am Jun 5, 2012 8:21am
I'm still holding shorts from average 9780
Quoting DaddyBear
Entered short @0.97504, no sl, tp between 0.9635 & 0.9630
  • #46,304
  • Jun 5, 2012 8:41am Jun 5, 2012 8:41am
Quoting 4_x
I'm still holding shorts from average 9780
Good for you! Any exit plan?
daddybearforex. com
  • #46,305
  • Jun 5, 2012 8:50am Jun 5, 2012 8:50am
Yes, I trade off H4 and daily so leaving TP open for now until I look at charts after work. SL for half my position is at 9800 as I think there may be more room to go up. Good luck on all your trades!

Quoting DaddyBear
Good for you! Any exit plan?
  • #46,306
  • Jun 5, 2012 8:58am Jun 5, 2012 8:58am
Quoting 4_x
Yes, I trade off H4 and daily so leaving TP open for now until I look at charts after work. SL for half my position is at 9800 as I think there may be more room to go up. Good luck on all your trades!

Aussie will go up again but before that she has to drop to somewhere below pivot.
daddybearforex. com
  • #46,307
  • Jun 5, 2012 9:01am Jun 5, 2012 9:01am
OK I'll keep an eye open for the drop from my phone and trade during lunch if I have to lol Thanks for the heads up

Quoting DaddyBear
Aussie will go up again but before that she has to drop to somewhere below pivot.
  • #46,308
  • Jun 5, 2012 9:32am Jun 5, 2012 9:32am
Quoting 4_x
OK I'll keep an eye open for the drop from my phone and trade during lunch if I have to lol Thanks for the heads up
I use M144 chart instead of H4. Because there are only 6 bars a day, I feel it could lag too much. I may be the only one using M144 chart.
daddybearforex. com
  • #46,309
  • Jun 5, 2012 9:37am Jun 5, 2012 9:37am
0.9750 looks to be a top now.
  • #46,310
  • Jun 5, 2012 9:37am Jun 5, 2012 9:37am
Only a lousy +14.95% for the week so far
  • #46,311
  • Jun 5, 2012 9:58am Jun 5, 2012 9:58am
Thanks for the update. I'm watching numbers with no charts from work lol

Quoting jayjb
0.9750 looks to be a top now.
  • #46,312
  • Jun 5, 2012 10:42am Jun 5, 2012 10:42am
Quoting DaddyBear
Put your money on some trading books before you ever put one penny in Forex market. Get a good ECN broker and pay the commission. Don't buy the no commission hype. Try not to use MT4 platform. See if you can use a 3rd. party platform with API support.
Whats wrong with mt4
The fragrance remains in the hands of those that gves the rose
  • #46,313
  • Jun 5, 2012 10:57am Jun 5, 2012 10:57am
Thinking about taking profit on half my lots and leaving other half running. How low do you see this going?

Quoting DaddyBear
I use M144 chart instead of H4. Because there are only 6 bars a day, I feel it could lag too much. I may be the only one using M144 chart.
  • #46,314
  • Jun 5, 2012 11:01am Jun 5, 2012 11:01am
the net short position is the highest its been ever. makes me wonder if a few big funds positioned short on the currency since retailers still look net long

the attached chart is an overlap between audusd and the net long/short position on those CME Aussie futures.

what do you guys think?
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2012-06-05 at 8.57.51 AM.png Size: 187 KB
  • #46,315
  • Jun 5, 2012 11:07am Jun 5, 2012 11:07am
Quoting okosodo
Whats wrong with mt4
I have used tradestation, IB station, FXCM station, Meta4, ProRealTime and finally NijarTrader. Because Meta4 closes open positions one by one by default. This may end up wiping out all fund left due to consecutive multiple margin calls.

In addition, the interface is not up to my expectation. The indicators programming is not easy comparing to other professional platforms.
daddybearforex. com
  • #46,316
  • Jun 5, 2012 11:21am Jun 5, 2012 11:21am
Quoting 4_x
Thinking about taking profit on half my lots and leaving other half running. How low do you see this going?
You may unload some positions if you feel it's more comfortable to you. Do not take my view to trade at any time. We are here to exchange information only.
daddybearforex. com
  • #46,317
  • Jun 5, 2012 11:27am Jun 5, 2012 11:27am
Quoting 4_x
Thinking about taking profit on half my lots and leaving other half running. How low do you see this going?

0.96535 is a feasible target to take into consideration. I will unload a portion between 0.9710 and 0.9693. FYI only.
daddybearforex. com
  • #46,318
  • Jun 5, 2012 11:49am Jun 5, 2012 11:49am
Quoting chummybeagle
the net short position is the highest its been ever. makes me wonder if a few big funds positioned short on the currency since retailers still look net long

the attached chart is an overlap between audusd and the net long/short position on those CME Aussie futures.

what do you guys think?
What you see is what already happened. This may be changed at any time without notice. I would not trade based on this data alone.
daddybearforex. com
  • #46,319
  • Jun 5, 2012 11:57am Jun 5, 2012 11:57am
Quoting jayjb
0.9750 looks to be a top now.
Ma'am, Finally we have some viewpoints in common. Now, we are Comrades!
daddybearforex. com
  • #46,320
  • Jun 5, 2012 12:32pm Jun 5, 2012 12:32pm
I unloaded all my lots except for 1. I would hold longer but I do not feel safe while I'm away from my computer. I feel safer taking profits now than feeling sorry later. 200 pips from last night is good enough for me. Thanks for your updates, happy hunting!

Quoting DaddyBear
You may unload some positions if you feel it's more comfortable to you. Do not take my view to trade at any time. We are here to exchange information only.
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