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AUD/USD

  • #58,921
  • Jun 7, 2013 8:30am Jun 7, 2013 8:30am
Quoting xandi
{quote} thanks bro, I do appreciate your thoughts, for long time! Make me laugh some expert traders trying to share an naive image of trading safely, with security, as if this Market works like that!! lol...Here in POrtugal we call it the "thief´s song". Instead of that, we should teach values of discipline and rigidity, and trading accordly to that, because we will blow much more accounts and sooner if we do not execute the plan, in every all trades!! One exception and it´s sufficient to start blowing the account... In this market, when you are...

Hi Xandi
Only you know what your account can handle.Not knowing this fact advising anyone is pointless.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #58,922
  • Jun 7, 2013 8:34am Jun 7, 2013 8:34am
Quoting tashkent
{quote} opened another long at 0.9443. i do counter trade at yearly critical levels and average in but as soon as in green always set BE or close for some profit quickly because my additional entries are always a few times bigger that the previous entry. this will sustain to keep the equity at balance and offer an opportunity to catch the whale. as soon as feel the reversal signs keep adding aggressively at every retracement with tight trade management. everyone has his own style

I am more aggressive in averaging into a position in selling then buying.I was aggressively selling the UC from 1.0400
I also use same tactics as you.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #58,923
  • Jun 7, 2013 8:39am Jun 7, 2013 8:39am
Quoting Davit
{quote} Hi Xandi Only you know what your account can handle.Not knowing this fact advising anyone is pointless. Regards
wise words...thanks

ps: I´ve emphatize that point, writing always "depend on your margin account", when I be need to advise, I remember your words.
Thanks bro, very respect and admiration about your work here
  • #58,924
  • Jun 7, 2013 8:40am Jun 7, 2013 8:40am
Quoting xandi
{quote} wise words...thanks ps: I´ve emphatize that point, writing always "depend on your margin account", when I be need to advise, I remember your words. Thanks bro, very respect and admiration about your work here
whats your TP this time?
  • #58,925
  • Jun 7, 2013 8:42am Jun 7, 2013 8:42am
Quoting xandi
{quote} wise words...thanks ps: I´ve emphatize that point, writing always "depend on your margin account", when I be need to advise, I remember your words. Thanks bro, very respect and admiration about your work here

Xandi
I suggest have limit sells on USD/CAD at 1.0300 and all the way to 400 in 25pip increments.Just have the troops ready to attack once get triggered.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #58,926
  • Jun 7, 2013 8:45am Jun 7, 2013 8:45am
Quoting tashkent
{quote} opened another long at 0.9443. i do counter trade at yearly critical levels and average in but as soon as in green always set BE or close for some profit quickly because my additional entries are always a few times bigger that the previous entry. this will sustain to keep the equity at balance and offer an opportunity to catch the whale. as soon as feel the reversal signs keep adding aggressively at every retracement with tight trade management. everyone has his own style

exactly the same here, my TP is always maximum 50/70 pips or BE, and if it is trigger after additional entries, better because the profit will be higher and faster!
Feeling good being in good company, you, Davit, and more traders whom forex it´s not only one blyndly way of trade it!
  • #58,927
  • Jun 7, 2013 9:23am Jun 7, 2013 9:23am
Alright, I think we've covered the topic of pyramiding trades enough. Back to AUD discussion...

We're dangerously close to forming new lows since 2011 which means a bull reversal could be soon. Currently there is a doji forming right on the mofu of the daily chart which suggests a reversal could be eminent.

This is an extremely dangerous area, and I would advise not trading it until we can confirm a continuation BELOW the 2011 low, or a reversal. Right now the long term trend is bearish, but the short term is split.

If we hit a new low, the game will change and the entire world will change their FIBs, which means volatility. Trade safe!
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  • #58,928
  • Jun 7, 2013 9:26am Jun 7, 2013 9:26am
Quoting Pharm0r
Alright, I think we've covered the topic of pyramiding trades enough. Back to AUD discussion... We're dangerously close to forming new lows since 2011 which means a bull reversal could be soon. Currently there is a doji forming right on the mofu of the daily chart which suggests a reversal could be eminent. This is an extremely dangerous area, and I would advise not trading it until we can confirm a continuation BELOW the 2011 low, or a reversal. Right now the long term trend is bearish, but the short term is split. If we hit a new low, the game...
What is Mofu?
Mofo?
  • #58,929
  • Jun 7, 2013 9:26am Jun 7, 2013 9:26am
Quoting Pharm0r
+80 on my short from yesterday. We made a new low today, still bearish. Will be looking to reload shorts once we get a pull back from today's shenanigans. plan to reload shorts around .9487 mofu
Also voiding this. The r/r isnt there due to possible bull reversal
  • #58,930
  • Jun 7, 2013 9:29am Jun 7, 2013 9:29am
Quoting HelloOz
{quote} What is Mofu? Mofo?
50% fib zones that tend to be high volitility / rejection areas. Search gatorinla and his posts for more information on mofus
  • #58,931
  • Jun 7, 2013 9:30am Jun 7, 2013 9:30am
Quoting HelloOz
{quote} whats your TP this time?
9550 is my TP, and I be satisfied with that, but have to look better to charts, I have no opportunity until now..
  • #58,932
  • Jun 7, 2013 9:33am Jun 7, 2013 9:33am
Quoting xandi
{quote} 9550 is my TP, and I be satisfied with that, but have to look better to charts, I have no opportunity until now..
i have 958..
anyway GL, we have chinese data out on the weekend.. not sure if i should keep pos open..
hmm...
  • #58,933
  • Jun 7, 2013 9:41am Jun 7, 2013 9:41am
Long From 9450 or 9425 ................................
waiting ..........................



Chull Bulll Chull Bulll................ its market Lollllllllllllll....................
  • #58,934
  • Jun 7, 2013 11:29am Jun 7, 2013 11:29am
if chinese data is worse than forecast and previous month..... what will happen to aud... slaughter?
Logics do not apply in FOREX
  • #58,935
  • Jun 7, 2013 12:54pm Jun 7, 2013 12:54pm
well, I´m out to enjoy weekend and holiday on monday! position on cruise mode.

I enjoyed a lot the week here, was a nice thread arguiing ideas and trading! all the best to you all, it´s easy leaving out emotions from trading, and share those emotions here in family..
take care!
  • #58,936
  • Jun 7, 2013 12:56pm Jun 7, 2013 12:56pm
Quoting Pharm0r
Alright, I think we've covered the topic of pyramiding trades enough. Back to AUD discussion... We're dangerously close to forming new lows since 2011 which means a bull reversal could be soon. Currently there is a doji forming right on the mofu of the daily chart which suggests a reversal could be eminent. This is an extremely dangerous area, and I would advise not trading it until we can confirm a continuation BELOW the 2011 low, or a reversal. Right now the long term trend is bearish, but the short term is split. If we hit a new low, the game...

In actuality we have another 100pips to go down at 9370 area to match 2011 low.If then it breaks then we might be looking all the way to 80
Its not panic time now.
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #58,937
  • Jun 7, 2013 1:08pm Jun 7, 2013 1:08pm
Quoting Davit
{quote} In actuality we have another 100pips to go down at 9370 area to match 2011 low.If then it breaks then we might be looking all the way to 80 Its not panic time now. {image}
2011 low is 9387, this most recent low came within 50 pips of 2011 low. Considering we've been trending 50-100 pips a day, we can very well see the low and/or reversal as early as Monday or Tuesday.

If you scalp or intra day trade, there are still pips on the table, but not enough to justify 3:1 r/r which is what I trade.

I'm not saying panic, I'm saying wait until we have a clear trend continuation or reversal. Which will most likely be next week.
  • #58,938
  • Jun 7, 2013 1:11pm Jun 7, 2013 1:11pm
Quoting xandi
well, I´m out to enjoy weekend and holiday on monday! position on cruise mode. I enjoyed a lot the week here, was a nice thread arguiing ideas and trading! all the best to you all, it´s easy leaving out emotions from trading, and share those emotions here in family.. take care!

Same here enjoy your weekend.
Hopefully this beast turns around to North.
I would suggest if we get a spike up close all positions.This pair is losing interest in big investors specially hinting further interest rate cut.. 78% retail traders are long on Aussie and it creates not even dent with 6% of market share no wonder.
Trade safely.Protect your troops for another battle.

I did close all my Kiwi longs 100pips ego with -960pips loss but I gained 1250 pips on UC short.
In trading, you have to be defensive and aggressive at the same time
  • #58,939
  • Jun 7, 2013 1:17pm Jun 7, 2013 1:17pm
Quoting Davit
{quote} Same here enjoy your weekend. Hopefully this beast turns around to North. I would suggest if we get a spike up close all positions.This pair is losing interest in big investors specially hinting further interest rate cut.. 78% retail traders are long on Aussie and it creates not even dent with 6% of market share no wonder. Trade safely.Protect your troops for another battle.
yap, you are right, yesterday saw that number, and if it is correct, I should not be longing this pair, but the opposite.. My medium price is now at 9500 and I´ll try to jump off at BE, without adding more!
Definitly will find another pair, will look to USDCAD has you sugest!
Thanks for everything, you´re good friend!

Enjoy your weekend! take care bro!
Attached Image
  • #58,940
  • Jun 7, 2013 1:19pm Jun 7, 2013 1:19pm
Quoting Pharm0r
{quote} 2011 low is 9387, this most recent low came within 50 pips of 2011 low. Considering we've been trending 50-100 pips a day, we can very well see the low and/or reversal as early as Monday or Tuesday. If you scalp or intra day trade, there are still pips on the table, but not enough to justify 3:1 r/r which is what I trade. I'm not saying panic, I'm saying wait until we have a clear trend continuation or reversal. Which will most likely be next week.
edited*
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