Attachments: Aussie Trading Room and Cartoons Gallery

Aussie Trading Room and Cartoons Gallery

#8,681
Sep 2, 2012 1:24pm Sep 2, 2012 1:24pm

DaddyBear
| Membership Revoked | Joined Jan 2011 | 31,935 Posts

Quoting tunera

Disliked

oh god, this thread is becoming like all the other FF threads.

sometime looks like the average "trader" is a 14yrs old teenager with a 500 dollars account funded by his parents, somehow treating trading like a multiplayer online game

sorry, just kidding..

let's get back to aussie, the core of the problem here is that most see the pair still in a range, while some see such range as it was a correction of the multi-year uptrend.

In my honest opinion, the range/correction ended with May (month) downmove, such a downmove was the typical exaustion...

Ignored

Thanks for bring this thread back to the right track.

My view is that the Aussie has been on a major corrective wave for a long time. We do experience some impulsive sub-wave within this context.

To get a big picture, I looked at monthly chart. It confirmed my view posted earlier today.

Your opinion, "In my honest opinion, the range/correction ended with May (month) down move." might be right on the money.

I had a range view until yesterday. Now I see a continuation in the cards. IMHO

daddybearforex. com

#8,682
Sep 2, 2012 2:02pm Sep 2, 2012 2:02pm

GnarlyPips
| Joined Apr 2012 | Status: Toker | 918 Posts

Quoting tunera

Disliked

somehow treating trading like a multiplayer online game

Ignored

As a poker player, live and online, I've come to learn to treat the game as what it is... A game. I don't think of how much money I've made one hand, but how much my stack grew in percentage and how much the other stacks just got hit.

So, if poker is a multiplayer game where people bet against each other, then why can't forex be a game where people bet against each other? I don't like thinking about how much money I lost or made in a trade, but the pips instead.

In poker, the fish play their cards while the sharks are playing (eating) the fish.

Play the players, not the cards.

#8,683
Sep 2, 2012 2:13pm Sep 2, 2012 2:13pm

DaddyBear
| Membership Revoked | Joined Jan 2011 | 31,935 Posts

The Aussie gaps down. 0282/0292

daddybearforex. com

#8,684
Sep 2, 2012 2:25pm Sep 2, 2012 2:25pm

doblece
Joined May 2006 | Status: Still here. | 2,602 Posts

Quoting GnarlyPips

Disliked

As a poker player, live and online, I've come to learn to treat the game as what it is... A game. I don't think of how much money I've made one hand, but how much my stack grew in percentage and how much the other stacks just got hit.

So, if poker is a multiplayer game where people bet against each other, then why can't forex be a game where people bet against each other? I don't like thinking about how much money I lost or made in a trade, but the pips instead.

In poker, the fish play their cards while the sharks are playing (eating)...

Ignored

When trading, I only bet against myself. Challenges are vital for me to keep the interest (both mental and $%) flowing.

I don't see pips or $, just percentages. And walking slowly, very slowly on a single direction, while giving back to the markets just a few pebbles all along, so it may keep giving back to me. I take what it wishes to give, when it wishes to do it. Whenever I wait for more, I am ignoring that gift and he bites back. The markets, it or he. Has many faces.

Not everyone is playing ALL the cards. And some might even be bluffing. But the challenges are fun. And the cartoons.

Little fish feed upon the crumbs that are floating around sharks.
There's room for everyone, as long as little fish don't dream that they are sharks and seek to fight them.
There's not a single shark in my little pool.
Only my sharky alter-ego ...

For me, Forex is a business. And I treat my fellow traders as colleagues.

#8,685
Sep 2, 2012 2:40pm Sep 2, 2012 2:40pm

GnarlyPips
| Joined Apr 2012 | Status: Toker | 918 Posts

Quoting doblece

Disliked

When trading, I only bet against myself.

For me, Forex is a business. And I treat my fellow traders as colleagues.

Ignored

If you only bet against yourself, when you win, where does the money come from? If you lose, where does your money go?

Also price jumped down to 1.27

Play the players, not the cards.

#8,686
Sep 2, 2012 2:44pm Sep 2, 2012 2:44pm

tunera
| Commercial User | Joined Sep 2005 | 2,784 Posts

Quoting GnarlyPips

Disliked

If you only bet against yourself, when you win, where does the money come from? If you lose, where does your money go?

Also price jumped down to 1.27

Ignored

chances are that when you make money, money comes from your broker. And when you loose money, they go to your broker.

#8,687
Sep 2, 2012 4:25pm Sep 2, 2012 4:25pm

NewbTrader7
| Joined Jan 2011 | Status: Trader | 274 Posts

anyone else thinking a short term long to fill in the gap?

http://img.photobucket.com/albums/v6...2at22342PM.png

#8,688
Sep 2, 2012 4:32pm Sep 2, 2012 4:32pm

tunera
| Commercial User | Joined Sep 2005 | 2,784 Posts

Quoting NewbTrader7

Disliked

anyone else thinking a short term long to fill in the gap?

http://img.photobucket.com/albums/v6...2at22342PM.png

Ignored

i'm with you

#8,689
Sep 2, 2012 5:10pm Sep 2, 2012 5:10pm

Daytrader74
| Joined Nov 2009 | Status: FUDGE | 2,229 Posts

Quoting DaddyBear

Disliked

Really?

Ignored

Yes, it may be hard or you to believe I know but its a true story. If you have noticed I have been keeping my draw down to a much smaller amount now than in all my previous accounts and not making any more than 3 open trades at the same time, my account is looking much better this time than all my previous accounts....in this business you need to learn from your mistakes and keep adjusting/improving yourself otherwise you will just keep doing the same thing over and over again and thats the definition of insanity!

#8,690
Sep 2, 2012 5:27pm Sep 2, 2012 5:27pm

KickAss
| Joined Aug 2012 | Status: net profit -80% | 50 Posts

Quoting tunera

Disliked

i'm with you

Ignored

is 1.03 so easy to break ? :nerd:

#8,691
Edited 8:37pm Sep 2, 2012 6:52pm | Edited 8:37pm

pauladkinsau
| Joined Jul 2012 | Status: Aussie Aussie Aussie Oi Oi Oi | 78 Posts

Good morning and good luck to all for the new week.

Opened lower thanks to China, a quick bounce to 1.30, now retesting support around 1.0275. I suspect we will oscillate between the two, as the competing views are both quite valid.

Late edit - shows what I know. I turn away to have some breakfast, and wham, the price is nudging 1.0240. But I don't mind, my TP hit on 1.0250 for 100 pip gain.

#8,692
Sep 2, 2012 7:09pm Sep 2, 2012 7:09pm

jeff_b
| Joined Oct 2011 | Status: Trader | 201 Posts

Can you tell me what time the institutional feeds come online?

Cheers.

Quoting tunera

Disliked

At this point, this week will be full of volatility, we have the chinese pmi (already known but not yet priced in, market will open in a few hours, and the istitutional feeds will start 1 hour before the normal market hour, not before),.

Ignored

#8,693
Sep 2, 2012 7:43pm Sep 2, 2012 7:43pm

Erebus
Joined Jul 2011 | Status: Gold Again | 10,565 Posts

Quoting GnarlyPips

Disliked

As a poker player, live and online, I've come to learn to treat the game as what it is... A game. I don't think of how much money I've made one hand, but how much my stack grew in percentage and how much the other stacks just got hit.

So, if poker is a multiplayer game where people bet against each other, then why can't forex be a game where people bet against each other? I don't like thinking about how much money I lost or made in a trade, but the pips instead.

In poker, the fish play their cards while the sharks are playing (eating)...

Ignored

I like the poker analogy. I play the WSOP app on my iPhone a lot, I find that the less hands I play, the more my account grows, interesting right?

Is it because it is only play money and others will call anything? Probably that is part of it, but I like to think it is because I only play the very best hands, when chance is in my favor, thereby increasing my win rate.

So, try to do this with your trading, find the best trend, trade it, account grows!

It takes a lot for me to IGNORE you, but you can try.

#8,694
Sep 2, 2012 8:45pm Sep 2, 2012 8:45pm

5percent
Joined May 2012 | Status: I'm Pawning 95Percent | 1,407 Posts

aud has been breaching every support.

1.0177-1.0215, the next likely support/bounce.

i love to see another low for aud, preferably 0.93-0.97 if things in september get worst. so i can play a long term long.

#8,695
Sep 2, 2012 8:52pm Sep 2, 2012 8:52pm

GnarlyPips
| Joined Apr 2012 | Status: Toker | 918 Posts

Quoting Erebus

Disliked

I like the poker analogy. I play the WSOP app on my iPhone a lot, I find that the less hands I play, the more my account grows, interesting right?

Is it because it is only play money and others will call anything? Probably that is part of it, but I like to think it is because I only play the very best hands, when chance is in my favor, thereby increasing my win rate.

So, try to do this with your trading, find the best trend, trade it, account grows!

Ignored

Well, if you've never played poker with real money, it's a whole lot different. If you play play money poker, you're not playing poker. Those people just gamble and have such a high VPIP rate the only way to play against them is to only play the biggest hands. Though, these come around rarely and even then, you have to know how to play them.

If you play tight in a mid-stake cash game, the sharks will eat you alive. You have to consider the blinds every round. If you wait around for pocket aces, you could pass up 200 hands easily. Let's say there's 6 people at the table and the limits 1/2. Every round, blinds eat up three bucks. You'll probably have 200 bucks. For every round, you lose three bucks and six hands are down. It takes about 33 rounds to get to 200 hands, and by them, you'll have lost half your stack. Now, when you get your aces, even if you double up, you're right back to where you started.

This is why bluffing and semi-bluffing are important in poker. You have to hedge against the blinds.

Play the players, not the cards.

#8,696
Sep 2, 2012 8:57pm Sep 2, 2012 8:57pm

mrluckystar
Joined May 2011 | Status: Balance sh*t | 2,062 Posts

Quoting 5percent

Disliked

aud has been breaching every support.

1.0177-1.0215, the next likely support/bounce.

i love to see another low for aud, preferably 0.93-0.97 if things in september get worst. so i can play a long term long.

Ignored

economic data not helping aud...

still hold my swing sell post from 1.0433...

regards.

Peace Yo!

#8,697
Sep 2, 2012 9:03pm Sep 2, 2012 9:03pm

irfandbl
| Joined May 2012 | Status: Ball reader | 1,034 Posts

Waking up and sees my H4 upper targets for correction weren't hit. Seems it went down just after it has reached it's 61.8% FIB and has formed new downward targets

Attached Image

and the new targets are

Attached Image

but I'm not jumping in to short this pair right now, H1 has reached it's 100% target, so a long (scalp) would be more reasonable as for now..or wait for a correction to short. But if it goes to the H4 south targets without any corrections then tough luck...