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  • #7,581
  • Aug 23, 2012 5:51am Aug 23, 2012 5:51am
Quoting flipnfaith
If this holds, we are forming a nice bottom on the 6h
The US dollar is making a comeback judging from my USDCAD long. =(
  • #7,582
  • Aug 23, 2012 5:52am Aug 23, 2012 5:52am
Quoting tunera
Ok my friends, i just bought at 1.0496, targeting 1.0610, looking for another bull move soon!
So you took the other side of my trade, so lets hope we can both be profitable.

SL moved to BE +5 pips and 20 pip TSL added
Some people say I'm lucky, but the more I practice the luckier I get
  • #7,583
  • Aug 23, 2012 5:54am Aug 23, 2012 5:54am
Quoting Iro
The US dollar is making a comeback judging from my USDCAD long. =(
I won't go long unless I see some type of conformation. hammer, engulfing, etc. This is a good level to watch and see if it turns back up.
  • #7,584
  • Aug 23, 2012 5:55am Aug 23, 2012 5:55am
Quoting Iro
I've seen a demo account on fxbook with an audusd sell from 1.10 last year and its actually MINUS a few K even with the price we have now.

The swap is that bad for shorts.
Why did you not get out when it went to 0.94?
Some people say I'm lucky, but the more I practice the luckier I get
  • #7,585
  • Aug 23, 2012 5:55am Aug 23, 2012 5:55am
Quoting Robot Trader
So you took the other side of my trade, so lets hope we can both be profitable.

SL moved to BE +5 pips and 20 pip TSL added
Thank for your answer last post.
  • #7,586
  • Aug 23, 2012 5:55am Aug 23, 2012 5:55am
Rule number 5 for me -

5. When I want to SELL or BUY I need to actually take the trade in the opposite way to what I'm thinking.
  • #7,587
  • Aug 23, 2012 5:56am Aug 23, 2012 5:56am
Quoting Robot Trader
So you took the other side of my trade, so lets hope we can both be profitable.

SL moved to BE +5 pips and 20 pip TSL added
nice, so you already profitable.. let's see if both will be at the end
Yeah the downtrend (correction) can be resumed, but the uptrend also can be resumed (my scenario), considering that the dollar is falling, the oil is again at the highest level, the only reason why audusd is not yet over 1.06 is that capitals are flowing in the eur more than aud, and this is penalizing aud.
On the other side, this eur-squeeze (especially referring to euraud) if it end and euraud make a decent correction, audusd will be at 1.06 in a fashionable jump, let's see.. just speculation, guessing..

Good short by the way!
  • #7,588
  • Aug 23, 2012 5:58am Aug 23, 2012 5:58am
Quoting Daytrader74
Rule number 5 for me -

5. When I want to SELL or BUY I need to actually take the trade in the opposite way to what I'm thinking.
I had this same thought many a times too - that if I think buy, I should actually sell & vice versa.
  • #7,589
  • Aug 23, 2012 6:01am Aug 23, 2012 6:01am
Oh i want to write some words about this thread, congratulation for the wisdom and the intelligence of the members who post here, compared to other threads this one is really enjoyable to read and to interact, very smart and polite posts, you are great people
  • #7,590
  • Aug 23, 2012 6:01am Aug 23, 2012 6:01am
Quoting gatorinla
aud seems to want 0629.. since its at 0520 atm.. i will wait for sub 0465.. not saying its going there. its just a place i look to long at with a weakness of bear signal.
atm i am looking to L the aud. hopefully near 0412/65... and if it goes below 0410 i close L..
those who can, do. those who cant, talk about those who can
  • #7,591
  • Aug 23, 2012 6:03am Aug 23, 2012 6:03am
Quoting bouble
I don't know about it before.
Since I can not do short anymore.
  • #7,592
  • Aug 23, 2012 6:04am Aug 23, 2012 6:04am
Quoting Robot Trader
Why did you not get out when it went to 0.94?
It was someone's else account on fxbook.

Though at some point it must of been in the money 20k+ considering how good the entry was.
  • #7,593
  • Aug 23, 2012 6:07am Aug 23, 2012 6:07am
I think it's more like CAD weakness. Broke trendlines versus all civilised currencies, I was thinking about buying AUD/CAD (swap positive), but with this vigor in EUR/AUD (and other EUR pairs), I decided not to buy Aussie. Anyway shorting loonie seems a good idea, whether CAD/XXX short or XXX/CAD long, matter of taste.

Quoting Iro
The US dollar is making a comeback judging from my USDCAD long. =(
forget about tomorrow, just steal away into the night
  • #7,594
  • Aug 23, 2012 6:37am Aug 23, 2012 6:37am
Quoting Daytrader74
Rule number 5 for me -

5. When I want to SELL or BUY I need to actually take the trade in the opposite way to what I'm thinking.

Just change buttons' position order...
Use me as a contrarian indicator
  • #7,595
  • Aug 23, 2012 6:40am Aug 23, 2012 6:40am
Quoting Iro
The swap is that bad for shorts.
Aha... U should think *deeply* on that...
Use me as a contrarian indicator
  • #7,596
  • Edited 8:20am Aug 23, 2012 6:45am | Edited 8:20am
Quoting nbhaya
Hi, Hope you dont mind my comment, but seem to get the impression there is a wish to see this pair down and looking therefore are looking for those signals / signs. Some how I dont see this happening given the following:

The pair is in a strong uptrend with no signs of relenting and getting major support on every down trend. Statements from Australia do recognize head winds but are willing to wait to act on them.

US needs a weak dollar to have any sustained recovery - which is stalling

Data from China is dependable?

Australian rates being...
You've got a very good analysis. But, the market is irrational most of the time. When a person believes what he thinks of the market without any reservations, it's time to be afraid of what he cannot see. IMHO
daddybearforex. com
  • #7,597
  • Aug 23, 2012 6:47am Aug 23, 2012 6:47am
Quoting mrbandwidth
Just change buttons' position order...
How do I do that on MT4?
  • #7,598
  • Aug 23, 2012 6:49am Aug 23, 2012 6:49am
Trading rules from great traders are always worth reading. If you spend some time to understand the concept behind each trading rule this will improve your trading skills and take you to the next level.

1. Never, under any circumstance add to a losing position…. ever! Nothing more need be said; to do otherwise will eventually and absolutely lead to ruin!

2. Trade like a mercenary guerrilla. We must fight on the winning side and be willing to change sides readily when one side has gained the upper hand.

3. Capital comes in two varieties: Mental and that which is in your pocket or account. Of the two types of capital, the mental is the more important and expensive of the two. Holding to losing positions costs measurable sums of actual capital, but it costs immeasurable sums of mental capital.

4. The objective is not to buy low and sell high, but to buy high and to sell higher. We can never know what price is “low.” Nor can we know what price is “high.” Always remember that sugar once fell from $1.25/lb to 2 cent/lb and seemed “cheap” many times along the way.

5. In bull markets we can only be long or neutral, and in bear markets we can only be short or neutral. That may seem self-evident; it is not, and it is a lesson learned too late by far too many.

6. “Markets can remain illogical longer than you or I can remain solvent,” according to our good friend, Dr. A. Gary Shilling. Illogic often reigns and markets are enormously inefficient despite what the academics believe.

7. Sell markets that show the greatest weakness, and buy those that show the greatest strength. Metaphorically, when bearish, throw your rocks into the wettest paper sack, for they break most readily. In bull markets, we need to ride upon the strongest winds… they shall carry us higher than shall lesser ones.

8. Try to trade the first day of a gap, for gaps usually indicate violent new action. We have come to respect “gaps” in our nearly thirty years of watching markets; when they happen (especially in stocks) they are usually very important.

9. Trading runs in cycles: some good; most bad. Trade large and aggressively when trading well; trade small and modestly when trading poorly. In “good times,” even errors are profitable; in “bad times” even the most well researched trades go awry. This is the nature of trading; accept it.

10. To trade successfully, think like a fundamentalist; trade like a technician. It is imperative that we understand the fundamentals driving a trade, but also that we understand the market’s technicals. When we do, then, and only then, can we or should we, trade.

11. Respect “outside reversals” after extended bull or bear runs. Reversal days on the charts signal the final exhaustion of the bullish or bearish forces that drove the market previously. Respect them, and respect even more “weekly” and “monthly,” reversals.

12. Keep your technical systems simple. Complicated systems breed confusion; simplicity breeds elegance.

13. Respect and embrace the very normal 50-62% retracements that take prices back to major trends. If a trade is missed, wait patiently for the market to retrace. Far more often than not, retracements happen… just as we are about to give up hope that they shall not.

14. An understanding of mass psychology is often more important than an understanding of economics. Markets are driven by human beings making human errors and also making super-human insights.

15. Establish initial positions on strength in bull markets and on weakness in bear markets. The first “addition” should also be added on strength as the market shows the trend to be working. Henceforth, subsequent additions are to be added on retracements.

16. Bear markets are more violent than are bull markets and so also are their retracements.

17. Be patient with winning trades; be enormously impatient with losing trades. Remember it is quite possible to make large sums trading/investing if we are “right” only 30% of the time, as long as our losses are small and our profits are large.

18. The market is the sum total of the wisdom … and the ignorance…of all of those who deal in it; and we dare not argue with the market’s wisdom. If we learn nothing more than this we’ve learned much indeed.

19. Do more of that which is working and less of that which is not: If a market is strong, buy more; if a market is weak, sell more. New highs are to be bought; new lows sold.

20. The hard trade is the right trade: If it is easy to sell, don’t; and if it is easy to buy, don’t. Do the trade that is hard to do and that which the crowd finds objectionable. Peter Steidlmayer taught us this twenty five years ago and it holds truer now than then.

21. There is never one cockroach! This is the “winning” new rule submitted by our friend, Tom Powell.

22. All rules are meant to be broken: The trick is knowing when… and how infrequently this rule may be invoked!
  • #7,599
  • Aug 23, 2012 6:52am Aug 23, 2012 6:52am
Quoting macroman
btw I am AUD bull

no position at present.
Welcome macroman! I am USD Bull at this moment. Go USA!
daddybearforex. com
  • #7,600
  • Aug 23, 2012 7:01am Aug 23, 2012 7:01am
Quoting tunera
Ok my friends, i just bought at 1.0496, targeting 1.0610, looking for another bull move soon!
Wake up and read your message now.

When you posted your chart yesterday, I thought you saw the whole picture. I hope you are O.K. because the Bull may be in hibernation now.
daddybearforex. com
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