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AUD/USD

  • #50,881
  • Jul 21, 2012 7:17pm Jul 21, 2012 7:17pm
I have never heard of Wednesday. Maybe noon Friday before, at best noon Thursday.

I have roll already posted from my positions.

BTW 5pm is too easy, and where did you hear of Wednesday? If you are long for a 24 hour period or before noon on Either Friday or thursday you will get weekend roll......
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #50,882
  • Jul 21, 2012 7:24pm Jul 21, 2012 7:24pm
Quoting XTrade
I have never heard of Wednesday. Maybe noon Friday before, at best noon Thursday.

I have roll already posted from my positions.

BTW 5pm is too easy, and where did you hear of Wednesday? If you are long for a 24 hour period or before noon on Either Friday or thursday you will get weekend roll......
mt4 brokers always have been wed 2pm pacific time. You dont gotta worry bout gap
  • #50,883
  • Edited 8:15pm Jul 21, 2012 8:03pm | Edited 8:15pm
I only use MT4 for Gold and my leverage is 0.
For currency I don't use Mt4 and would not again, did it once and it was the worst experience I ever had trading. I will use it as a demo or if trading for someone else if it is the only means, I don't use EAs and therefore I basically have no use for MT4 which it was designed for. It is especially cumbersome trying to use it to day trade. There are too often re-quotes or other garbage messages I have not found at all with other brokers. Any broker that offers MT4, I am sure will have the same problems, it is due to Boston technologies and their "Role" in this game....... I wonder how much they get per trade placed.

Personally I don't wan't my trades going from Mt4 to broker to market or even MT4 to broker and back to me.

My leverage for currency is 1:50 which I don't mind actually and I think every one should use it. If I am not correct, large banks' FX desks only trade a max of 50:1 or the average 25:1 leverage. Yet, they have way more money to push around than the average retailer.

I am not worried about the gap I am trading it. I am expecting a gap up, also keep in mind the gaps are not created by the retail market, they are created by the real interbank Foreign Exchange market.
Thus, These rules of time to get roll and when to not probably do not apply at all.

Yes, I know there are rules for retail brokers, however, I still think a long from Weds is out of the question. I will log in now and see where the roll is if I can.

Also:
I would imagine if I am central bank A and I buy the Aussie at 4:59 PM from central bank B, as long as my trade is honored, due to the fact that I have now purchased Australian dollars (no they are not in my hand)the bank has a rate issue by the RBA that it pays for overnight holdings.

We as a whole are spit in the ocean as far as the FX market goes.

Quoting sidhujag
mt4 brokers always have been wed 2pm pacific time. You dont gotta worry bout gap
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #50,884
  • Jul 21, 2012 8:09pm Jul 21, 2012 8:09pm
I am showing one day roll so far, Saturday, with positions taken on Friday.
We will see tomorrow if I get the two day roll. Come 5pm EST for me.

Is any one trading the GAP? if there will be one.................
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #50,885
  • Jul 21, 2012 8:18pm Jul 21, 2012 8:18pm
Good for me that I chanced over here in time to read your informative posts. The last time I read this thread, posters seemed of one accord that the direction would be down intially, so that the pair could complete a technical wave level. In case anyone does not know, xe.com gives weekend quotes. I've been keeping track. Aud Usd has gone up as high as 1.03805, and is now 1.03750, where it's been for many hours.

Quoting XTrade
I only use MT4 for Gold and my leverage is 0.
For currency I don't use Mt4 and would not again, did it once and it was the worst experience I ever had trading. I will use it as a demo or if trading for someone else if it is the only means,

My leverage for currency is 1:50 which I don't mind actually and I think every one should use it. If I am not correct, large banks' FX desks only trade a max of 50:1 or the average 25:1 leverage. Yet, they have way more money to push around than the average retailer.

I am not worried about the gap I am trading...
  • #50,886
  • Jul 21, 2012 8:38pm Jul 21, 2012 8:38pm
I'd have to check my limits to see if I am out. I doubt it yet but knew on that last bar (hourly) people were bidding the pair up again.

Next week I am expecting a break of the previous weeks high.

Yes, I know what you mean, it seems everyone on this site only knows how to short.

This is actually the WORST pair to short and hold as a position due to the roll you will be charged. Next in line would be the Kiwi.

Also, I don't use Elliot wave if you were referring to it due to it's infinite invariables. No one is ever "sure" which wave is which or if it is a b c or 123. please.

If I don't see any bullish action in the Aussie which is now my favorite pair to trade -exceeding cable- I simply don't trade it. Unless it is maybe a day trade.

edit: BTW thanks for the site, need to check that out.\
XT

Quoting Greenstar
Good for me that I chanced over here in time to read your informative posts. The last time I read this thread, posters seemed of one accord that the direction would be down intially, so that the pair could complete a technical wave level. In case anyone does not know, xe.com gives weekend quotes. I've been keeping track. Aud Usd has gone up as high as 1.03805, and is now 1.03750, where it's been for many hours.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #50,887
  • Jul 21, 2012 9:56pm Jul 21, 2012 9:56pm
Quoting KillerWhale
Eur/Aud, almost in a constant fall for 1300 pips now.
Does anyone see a break in the near future? (I don't see it yet)

do you remember i made call for short unfortunately i forgot take short on my call
Mohan
  • #50,888
  • Jul 21, 2012 9:59pm Jul 21, 2012 9:59pm
Quoting XTrade
I have never heard of Wednesday. Maybe noon Friday before, at best noon Thursday.

I have roll already posted from my positions.

BTW 5pm is too easy, and where did you hear of Wednesday? If you are long for a 24 hour period or before noon on Either Friday or thursday you will get weekend roll......
most broker charge Weekend roll on Wednesday NY close (Australian time Thursday morning 7 am)
Mohan
  • #50,889
  • Jul 21, 2012 10:25pm Jul 21, 2012 10:25pm
Quoting XTrade

Next week I am expecting a break of the previous weeks high.
I'm not so sure about that, we might see more pull-back first.

All my indicators tell me more south too
New voice message: Why are you calling me? If I need you, I'll call you!
  • #50,890
  • Jul 21, 2012 10:26pm Jul 21, 2012 10:26pm
Quoting KillerWhale
I'm not so sure about that, we might see more pull-back first.

All my indicators tell me more south too
4 hr chart
Attached Image (click to enlarge)
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New voice message: Why are you calling me? If I need you, I'll call you!
  • #50,891
  • Jul 22, 2012 12:39am Jul 22, 2012 12:39am
Quoting XTrade
I have never heard of Wednesday. Maybe noon Friday before, at best noon Thursday.

I have roll already posted from my positions.

BTW 5pm is too easy, and where did you hear of Wednesday? If you are long for a 24 hour period or before noon on Either Friday or thursday you will get weekend roll......

For someone with over total over 4,600 posts to his name and still not understand that there is a triple roll on Wednesday all I can say is those 4,600+ posts must be full of absolute bollocks .
  • #50,892
  • Jul 22, 2012 12:45am Jul 22, 2012 12:45am
Quoting Balmain Boy
For someone with over total over 4,600 posts to his name and still not understand that there is a triple roll on Wednesday all I can say is those 4,600+ posts must be full of absolute bollocks .

Fortunately I have no triple roll on Wednesday with Oanda.
I get or pay the interest everyday and with every trade I close, calculation per second.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #50,893
  • Jul 22, 2012 12:45am Jul 22, 2012 12:45am
Quoting Balmain Boy
For someone with over total over 4,600 posts to his name and still not understand that there is a triple roll on Wednesday all I can say is those 4,600+ posts must be full of absolute bollocks .
relax hero must be the alchohol talking. He said he doesnt use mt4 get out of ur bubble and look outside. Read his last post u can learn somethin about money management somethig you will need before trying to admit shame on soemone else.
  • #50,894
  • Jul 22, 2012 12:55am Jul 22, 2012 12:55am
Quoting sidhujag
relax hero must be the alchohol talking. He said he doesnt use mt4 get out of ur bubble and look outside. Read his last post u can learn somethin about money management somethig you will need before trying to admit shame on soemone else.

I don't use MT4 either .
What I stated is industry practice . Read below ;



When is rollover booked?

5 pm in New York is considered the beginning and end of the forex trading day. Any positions that are open at 5 pm sharp are considered to be held overnight, and are subject to rollover. A position opened at 5:01 pm is not subject to rollover until the next day, while a position opened at 4:59 pm is subject to rollover at 5 pm. A credit or debit for each position open at 5 pm generally appears on your account within an hour, and is applied directly to your accounts balance.

How do banks account for Weekends and Holidays?

Most banks across the globe are closed on Saturdays and Sundays, so there is no rollover on these days, but most banks still apply interest for those two days. To account for that, the forex market books 3 days of rollover on Wednesdays, which makes a typical Wednesday rollover three times the amount on Tuesday. There is no rollover on holidays, but an extra days worth of rollover usually occurs 2 business days before the holiday. Typically, holiday rollover happens if either of the currencies in the pair has a major holiday. So, for Independence Day in the USA, which is on July 4, when American banks are closed an an extra day of rollover is added at 5 pm on July 1 for all US dollar pairs. You can view how rollover is counted for holidays using our Rollover Calendar Page.
  • #50,895
  • Jul 22, 2012 12:58am Jul 22, 2012 12:58am
Quoting Balmain Boy
I don't use MT4 either .
What I stated is industry practice . Read below ;



When is rollover booked?

5 pm in New York is considered the beginning and end of the forex trading day. Any positions that are open at 5 pm sharp are considered to be held overnight, and are subject to rollover. A position opened at 5:01 pm is not subject to rollover until the next day, while a position opened at 4:59 pm is subject to rollover at 5 pm. A credit or debit for each position open at 5 pm generally appears on your account within an hour,...
u quote from fxcm lol u make me laugh the biggest bucketshop there is. The fact that two ppl just told u they dont get wed rollover should spell it out for u. Depends on broker not industry.
  • #50,896
  • Jul 22, 2012 6:22am Jul 22, 2012 6:22am
Hi jplazard,

I heard my friend talked about options hedge before but I just can't understand what my friend said.

Can you explain a bit more about this option you put in?

From what I can understand, you will have to pay $24K if DX touches either 82.70 or 83.80 right? If it doesn't, you will receive 65K right?

Best case scenario, DX goes lower but does not touch 82.70, you receive the premium + profit from the short you entered.

Worst case scenario, DX goes higher, touches 83.80. You loses the premium of 24K + losses from the shorts.

Am I interpreting this right? My friend told me the exact same thing about opening a hedge option to offset losses/reduce risk but I don't think I can ever have access to this type of trade.

He advised me to average in, have options to hedge before I open any positions (didn't really understand this part, something about offloading positions @ agreed price to 3rd party if that position goes against you) and some other methods but I don't think it's my type of trading really.

Cheers.

J.

Quoting jplazard
Sure on my exposure at the moment on Dollar future I am short 45contracts which you can see the specs on contract here https://www.theice.com/productguide/...B4C?specId=194
Now per tick it’s $5*45= $225/tick




I have averaged lower as the market went my way since last Friday and now I have a basis of 83.217. So in order to hedge a currency position most corporate or non commercials will call up a separate bank and ask to set up which is called a ‘Double No touch option’ or DNT....
  • #50,897
  • Jul 22, 2012 9:36am Jul 22, 2012 9:36am
For someone with 32 posts you have just kicked yourself in the foot.

Did you read your own POST? or shall I quote it for you?

Here:
Quoting Balmain Boy
When is rollover booked?

5 pm in New York is considered the beginning and end of the forex trading day. Any positions that are open at 5 pm sharp are considered to be held overnight, and are subject to rollover. A position opened at 5:01 pm is not subject to rollover until the next day, while a position opened at 4:59 pm is subject to rollover at 5 pm. A credit or debit for each position open at 5 pm generally appears on your account within an hour,...
And smart ass, if you had read what I said instead of trying to find fault in it and make yourself look smart, you would know that "I said I don't know about having TO HOLD FROM WEDNESDAY to collect weekend roll"
As someone else had stated is what they need to do.

But, being that you are smart, you have already posted the answer in which I have quoted above.

I am collecting roll. END OF STORY.

The ORIGINAL Question was who is expecting / Trading the GAP.

I have no more time to waste with you. Good luck you'll need it.

Quoting Balmain Boy
For someone with over total over 4,600 posts to his name and still not understand that there is a triple roll on Wednesday all I can say is those 4,600+ posts must be full of absolute bollocks .
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #50,898
  • Jul 22, 2012 10:06am Jul 22, 2012 10:06am
or 2 those who were telling every one to short from 1.03 or those who were telling everyone to short from 1.036

is aussiiee a short lmaooooooooooooooo if so let us hear your ignorance
  • #50,899
  • Jul 22, 2012 10:51am Jul 22, 2012 10:51am
likely silence to follow....

echo o o o


Quoting acacia357
or 2 those who were telling every one to short from 1.03 or those who were telling everyone to short from 1.036

is aussiiee a short lmaooooooooooooooo if so let us hear your ignorance
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #50,900
  • Jul 22, 2012 6:26pm Jul 22, 2012 6:26pm
Hey Folks, looking today.... i am a big believer of "Never Trusting Monday Moves" so today ill be longing at 1.0300 (1.0303 on 3 pip spread)
1.0300 has been a significant level of which we broke out with a follow thru to 1.0410, i will be looking to long again at 1.03
TP 1.0400

SL around 1.0280, Risk: Reward = 1:5
Warning: Australian Inflation figures coming out tonight... if this thing comes out negative.... we may see a plummet back to 1.0000, reason for my 20 pip SL...

PS. Oh by the way.. for Gap traders out there... AUDUSD's Gap at 1.0380 isnt filled yet....

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