AUD/USD

sweet aussie!! everytime I heard Aud is a good currency to invest!!
Com´on..push..strenght

Let's Go Aussie Let's Go ....

Looks like 0.95270 gonna hold ???

Hi guys, i have a long entry opened @0.97, down by ~200pips now big mistake didnt put a SL.

So.. i was waiting to see if the market bouce up from 0.9527. Dont know what to do atm. Wait or close trade before loosing more.


Anyone can give-me feedback? Ty.

I am in a similar situation with a buy from 0.9664, and I will not close it until I see a full1 hour candle opens and closes bellow 0.9527! The decision is yours to make
In addition, the one hour RSI shows that the pair is oversold, I would personally wait if my account can handle it .

About the Trade Balance @2:30, its the same forecast of the last month 0.20B and the actual was 0.31B.

I guess we need to wait and see.

Positive numbers could push it up. Let's see.

Trading without putting SL that is called time SL, some traders use this kind of SL, but they have theirs own strategy to enter and out ,hey buddy why u r buying a this level, if u have an answer u can hold or cut losses. it is ur money.

H4 TF showing some buyers,???

The markets are barely open and you try to read something into it already?

Anyway, time for an up wave, so you could be "right"

Take it up to where I can sell again, I need another 100 pips today

Nice trade

This pair is beautiful bears or bulls she is always money machine

depends on your Lot size and account margin...and your strategye...I´m wating a retracement, but I build positions on inverted pyramid..for example, I opened 0.1 at 9700, other 0.2 at 9600 and 0.6 at 9500...doubling the basis, so I can jump off on retracements with breakeven or profit...works very good on monthly range´s, not in direct/sharp trend market...hope this will be not!IF so, more margin needed!!!

I'm glad I just closed my short position for only a 10.00 lose, I'll what till after the news to get back in.

RSI doesnt mean much. It currencies can be oversold for long periods of time, clearly. A week or so ago aussie has an rsi of 4...just 4

Read a book; I suggest "The Way Of The Turtle"

Under duress, people make poor assessments of risk and event probabilities. What could be more stressful than winning or losing money? Behavioral finance has proved that when it comes to such scenarios, people rarely make completely rational decisions. Successful traders understand this tendency and benefit from it. They know that someone else’s errors in judgment are opportunities, and good traders understand how those errors manifest themselves in market price action.

• Loss aversion: The tendency for people to have a strong preference for avoiding losses over acquiring gains
• Sunk costs effect: The tendency to treat money that already has been committed or spent as more valuable than money that may be spent in the future

How does this phenomenon influence trading? Consider the typical
new trader who initiated a trade with the expectation of winning
$2,000. At the time the trade first was entered, he decided that
he would exit the position if the price dropped to the point where
a $1,000 loss would be incurred. After a few days, the trade’s position
is at a $500 loss. A few more days pass and the loss grows to
over $1,000: More than 10 percent of the trading account. The

value of that account has dropped from $10,000 to less than $9,000.
This also happens to be the point where the trader previously
decided to exit.
Consider how cognitive biases might affect the decision whether
to keep true to the prior commitment to get out at a $1,000 loss or
to keep holding the position. Loss aversion makes it extremely
painful for the trader to consider exiting the position because that
would make the loss permanent. As long as he does not exit, he
believes there is a chance that the market will come back and turn
the loss into a win. The sunk cost effect makes the decision not one
of deciding what the market is likely to do in the future but one of
finding ways to avoid wasting the $1,000 that already has been spent
on the trade. So, the new trader continues to hold the position not
because of what he believes the market is likely to do but because
he does not want to take a loss and waste that $1,000. What will he
do when the price drops even more and the loss increases to $2,000?
Rational thought dictates that he will exit. Regardless of his earlier
assumption about the market, the market clearly is telling him
that he was wrong, since it is far past the point at which he originally
decided to exit. Unfortunately, both biases are even stronger
at this point. The loss he wishes to avoid is now larger and even
more painful to consider. For many, this kind of behavior will continue
until the trader loses all his money or finally panics and exits
with a loss of 30 to 50 percent of his account, perhaps three to five
times what he had planned.

See anyone you know there?

.9520

Nesting in support zone of a downtrend

Local exporters may look at part hedging here

.9550 should contain upside for the time being for the next move lower


BUYERS BEWARE !!

Enjoy your ride

Looks like the AUD/USD is having problems breaking through the bottom and I also don't like that hammer on the previous candle on the 4hr chart. Glad I got out when I did. Be careful folks.

I would imagine many people on these forum dont know what sunk cost is...and have no risk management strategy

AUD about to go lower