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AUD/USD

  • #54,561
  • Oct 23, 2012 9:24pm Oct 23, 2012 9:24pm
Quoting bogus
Nice return. I didn't get into a/u long, but got into e/a short at 1.2625.
Nothing says a/u short to me at the moment.
Thanks Bogus! I actually didn't have any A/U longs either, only A/J...

I agree about A/U at the moment. Need to see how the rest of the week plays out first.

Congrats on the E/A short! I will be looking to open up anywhere from 4-8 E/A shorts and 4-8 G/A shorts during the next few weeks. I see a nice weekly down trend forming on both of these pairs! Also, tonight should bring some volatility our way with all of the EUR news events taking place. Hopefully it retraces at least a little so that I can get in one more position before London opens up.

Good luck Bogus!
  • #54,562
  • Oct 23, 2012 9:27pm Oct 23, 2012 9:27pm
gona take a sleep... been a hectic day yesterday with all that profit....
Gona sleep, recover a bit and ill see you muppets again later, hopefully everyone gets their chance in the green
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #54,563
  • Oct 23, 2012 9:29pm Oct 23, 2012 9:29pm
you deserve to get some rest mate,
see you in a bit..


Quoting fxtyrant
gona take a sleep... been a hectic day yesterday with all that profit....
Gona sleep, recover a bit and ill see you muppets again later, hopefully everyone gets their chance in the green
  • #54,564
  • Oct 23, 2012 9:31pm Oct 23, 2012 9:31pm
Quoting HelloOz
you deserve to get some rest mate,
see you in a bit..
See you buddy, btw do watch out.... AU is starting to look strange compared to other pairs risk pairs which is hinting at another leg down... GU and NU for Example....

Problem is its Asia Right now and it probably is just taking out stops, and they probably took the CPI and China PMI data just to do so , before London gets to sell off again....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #54,565
  • Oct 23, 2012 9:36pm Oct 23, 2012 9:36pm
Dollar barely reacted to the release (still early) watch ES tomorrow for confirmation on a short squeeze.

Otherwise looks like the range play is still intact in dollar index sell at the top range buy at the 786.
I have been short since the last range level at 80.125 i might add short here to range this again and actually take profit this time as it ebbs lower
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  • #54,566
  • Oct 23, 2012 9:54pm Oct 23, 2012 9:54pm
Quoting 100PipsADay
I wanted to share the reason why I closed my AUD/JPY longs sooner than planned. There has been a lot of talk about a 10 Trillion Yen monetary stimulus by the BOJ and Yen has been weakening real fast. However, this may be another one of those "buy the rumor sell the news" situations and will leave many investors disappointed if they don't follow through with it.

There is a chance that we could see some risk off sentiment going into the US elections which will strengthen the safe haven flows back to the Yen. If/when they do go through with another...
You learn fast

Still keep USD/JPY longs to run with locked in BE +100.
  • #54,567
  • Oct 23, 2012 9:57pm Oct 23, 2012 9:57pm
Quoting 100PipsADay
Hey JP,

Question about leverage with position trading - What is the most leverage you use at any given time as a position trader?

I understand it all depends on the trader's personal preference but what would you recommend for a Swing trader?

Position Trader Max Leverage: ?

Swing Trader Max Leverage: ?


Thanks JP!
My comfort zone for longer term is 1:1 - 3:1 without SL.
  • #54,568
  • Oct 23, 2012 10:06pm Oct 23, 2012 10:06pm
My comfort zone is 20:1 up to 50:1 with stop loss at 5% of account at risk per trade.

This may seem strange but for me a full line constitutes 30% of total account in margin is in play. Although I don't risk 30% of the account per trade that would be suicide I risk 5% of total Account per trade.

I never exceed 30% of the entire account in play and Each quarter (not recently) i try to increase size never exceeding 30%

The intial position entry because I pyramid into the position needs to be in profit right off the bat. Plus if I do add I better be convinced on a thesis to continue shorting and set the stop loss accordingly to adjust for the new cost basis
  • #54,569
  • Oct 23, 2012 10:15pm Oct 23, 2012 10:15pm
Quoting Ken A
You learn fast

Still keep USD/JPY longs to run with locked in BE +100.
I learned from PT! hahahaha

I asked him about U/J last night and he passed the info along to me. Thought it would be wise to book my profits and wait...
  • #54,570
  • Oct 23, 2012 10:16pm Oct 23, 2012 10:16pm
Quoting Ken A
My comfort zone for longer term is 1:1 - 3:1 without SL.

1:1 - 3:1 per trade or for your entire account?

I don't think I could make any money with 3:1 leverage... LOL

My account is leveraged anywhere from 10:1 - 20:1 at any given time, but I'm a swing trader. Haven't done much "position" trading as I don't have the patience for it.
  • #54,571
  • Oct 23, 2012 10:18pm Oct 23, 2012 10:18pm
Quoting jplazard
My comfort zone is 20:1 up to 50:1 with stop loss at 5% of account at risk per trade.

This may seem strange but for me a full line constitutes 30% of total account in margin is in play. Although I don't risk 30% of the account per trade that would be suicide I risk 5% of total Account per trade.

I never exceed 30% of the entire account in play and Each quarter (not recently) i try to increase size never exceeding 30%

The intial position entry because I pyramid into the position needs to be in profit right off the bat. Plus if I do add...

Interesting, thanks for your perspective JP! I'm a little confused though, do you consider 5% per trade as in each position opened. Or, a "trade" is a group of positions as in ALL of your AUD/USD shorts at any given time.

Thank you in advance for clarifying.
  • #54,572
  • Oct 23, 2012 10:19pm Oct 23, 2012 10:19pm
Thought I'd post my e/a chart here since the e/a threads dead and it's correlated.
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  • #54,573
  • Oct 23, 2012 10:25pm Oct 23, 2012 10:25pm
Quoting 100PipsADay
1:1 - 3:1 per trade or for your entire account?

I don't think I could make any money with 3:1 leverage... LOL

My account is leveraged anywhere from 10:1 - 20:1 at any given time, but I'm a swing trader. Haven't done much "position" trading as I don't have the patience for it.
Yes, per position though I might add when the first locked in BE. Sometimes I can open 10 pending orders with 10 pips interval with 1:1 each. I prefer longer term because can not baby sitting high leverage positions full time sitting in front of PC.

Well it all depends on the account size and how much is enough per pip
  • #54,574
  • Oct 23, 2012 10:31pm Oct 23, 2012 10:31pm
Quoting bogus
Thought I'd post my e/a chart here since the e/a threads dead and it's correlated.
Might be a good idea to watch the calendar in the morning will be full of events especially EURO. So far for AUD is all good other than the risk-off continuation.


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  • #54,575
  • Oct 23, 2012 10:33pm Oct 23, 2012 10:33pm
from the group of trades. When I first shorted at the initial rate cut I was in profit almost instantly, then as you remember I added a small amount near the bottom range before we headed back to pre Oct cut levels. Then I added heavily at 1.04 1.0410 than the lower move back to 1.0350. There was no risk of 5% on the intal entry because the selloff came through then we barely traded above pre cut levels before selling again. and the same goes for 1.04-1.0410 for obvious reasons





Looking for RBA nov cut if it does not come Im out and off for the year lol... Keeping the short Dollar.
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  • #54,576
  • Oct 23, 2012 10:33pm Oct 23, 2012 10:33pm
Quoting bogus
Thought I'd post my e/a chart here since the e/a threads dead and it's correlated.
Hey Bogus,

I've also got the H4 TL drawn on my E/A chart. It has been respecting it very nicely.

What is your target for your E/A short?
  • #54,577
  • Oct 23, 2012 10:35pm Oct 23, 2012 10:35pm
Quoting Ken A
Yes, per position though I might add when the first locked in BE. Sometimes I can open 10 pending orders with 10 pips interval with 1:1 each. I prefer longer term because can not baby sitting high leverage positions full time sitting in front of PC.

Well it all depends on the account size and how much is enough per pip
I understand, sometimes I over leverage myself but am working on that. I know that is my GREED kicking in and I need to check my self every once in a while.
  • #54,578
  • Oct 23, 2012 10:36pm Oct 23, 2012 10:36pm
Quoting Ken A
Might be a good idea to watch the calendar in the morning will be full of events especially EURO. So far for AUD is all good other than the risk-off continuation.


Attachment

Going to be a busy night for me! Hopefully we see some fireworks with the EUR...
  • #54,579
  • Oct 23, 2012 10:41pm Oct 23, 2012 10:41pm
Quoting Wulfgar
looking for a close under here(0283) on the hour to justify a continuation to the downside... if not we are looking towards the 0317 next and then the 0350/0361...

GL guys

Wulf
that hour bar closed above 0283... and here we are... 0317/0325 is the next hurdle.... a move and close back under 0294 is a trigger we are back to the bears

GL guys
  • #54,580
  • Oct 23, 2012 10:43pm Oct 23, 2012 10:43pm
Quoting jplazard
from the group of trades. When I first shorted at the initial rate cut I was in profit almost instantly, then as you remember I added a small amount near the bottom range before we headed back to pre Oct cut levels. Then I added heavily at 1.04 1.0410 than the lower move back to 1.0350. There was no risk of 5% on the intal entry because the selloff came through then we barely traded above pre cut levels before selling again. and the same goes for 1.04-1.0410 for obvious reasons





Looking for RBA nov cut if it does not come Im out and...
Won't be surprised 200%-500% return p.a. even with 50% win and risking 5% per entry.
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