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AUD/USD

  • #59,821
  • Jun 28, 2013 10:58am Jun 28, 2013 10:58am
Quoting Davit
{quote} Please always use caution last day of the month.Big boys like to see profits in their portfolios. Ease yourself into the trade.Your 1st trade should be smallest lot. Take for example 2lots you are willing to invest. then divide that into 8 Now you got 8 mini lots to trade averaging in the price so your overall range should balance out should the price go in your favor. When losing position same way average out of trades never all at once. Just my 2c
Didn't know anything about last day of the month

Started trading today with nice x/JPY profit,
than I shorted aud/usd - nzd/usd expecting a double buttom retracement =(

equity %120 to %50...

still got some longs aud/usd - nzd/usd
and usd/jpy short from 99.33
  • #59,822
  • Jun 28, 2013 10:59am Jun 28, 2013 10:59am
double buttom retracment taking place right know I guess...
  • #59,823
  • Jun 28, 2013 11:00am Jun 28, 2013 11:00am
Hi, can you tell me why are u bearish on USDJPY?

Quoting openyoureyes
{quote} Didn't know anything about last day of the month Started trading today with nice x/JPY profit, than I shorted aud/usd - nzd/usd expecting a double buttom retracement =( equity %120 to %50... still got some longs aud/usd - nzd/usd and usd/jpy short from 99.33
  • #59,824
  • Jun 28, 2013 11:02am Jun 28, 2013 11:02am
Close or not to close...

I hate to leave any positions be opened over the weekend...
  • #59,825
  • Jun 28, 2013 11:02am Jun 28, 2013 11:02am
Quoting openyoureyes
double buttom retracment taking place right know I guess...

I like UJ short.Same here You should examine your lot sizes.One should not lose more then 50% equity on any trade.You are over-trading.
GL
In trading, you have to be defensive and aggressive at the same time
  • #59,826
  • Jun 28, 2013 11:03am Jun 28, 2013 11:03am
Quoting sibajnok
Close or not to close... I hate to leave any positions be opened over the weekend...

mine open for sure.Why close?Next month could become all bull rally.
In trading, you have to be defensive and aggressive at the same time
  • #59,827
  • Jun 28, 2013 11:05am Jun 28, 2013 11:05am
selling level in my system, overbought

99.440-99.330

I use 100 tick charts.
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  • #59,828
  • Jun 28, 2013 11:06am Jun 28, 2013 11:06am
Quoting Davit
{quote} I like UJ short.Same here You should examine your lot sizes.One should not lose more then 50% equity on any trade.You are over-trading. GL
Yup normally I trade
$1k ~ 1 lot

this time I traded around 2 lots.

and didn't know stop out margin level was %80
I was using another broker at margin stop out %40

was trying to even out aud/usd losses from nzd/usd - usd/jpy

usd got strength
  • #59,829
  • Jun 28, 2013 11:07am Jun 28, 2013 11:07am
Quoting Davit
{quote} mine open for sure.Why close?Next month could become all bull rally.
actually I agree with you, expect the same. and my MM can hold this position till .90.

that would be 5% account loss...

but I don't trade AU so often, so maybe my preferred pairs will suffer until i must hold this position. that's my confuse.
  • #59,830
  • Jun 28, 2013 11:10am Jun 28, 2013 11:10am
Quoting Davit
{quote} I like UJ short.Same here You should examine your lot sizes.One should not lose more then 50% equity on any trade.You are over-trading. GL
haha, holding the same here .. they will not let it go there (=stay) over 100...
  • #59,831
  • Jun 28, 2013 11:11am Jun 28, 2013 11:11am
Quoting sibajnok
{quote} actually I agree with you, expect the same. and my MM can hold this position till .90. that would be 5% account loss... but I don't trade AU so often, so maybe my preferred pairs will suffer until i must hold this position. that's my confuse.
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  • #59,832
  • Jun 28, 2013 11:13am Jun 28, 2013 11:13am
Quoting sibajnok
{quote} haha, holding the same here .. they will not let it go there (=stay) over 100...

I made ton of money last 2days shorting Euro/Cad and USD/CAD but 80% Euro/Cad.Something worth looking.I have pending shorts from 37 and up.
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In trading, you have to be defensive and aggressive at the same time
  • #59,833
  • Jun 28, 2013 11:14am Jun 28, 2013 11:14am
Quoting Davit
{quote} I made ton of money last 2days shorting Euro/Cad and USD/CAD but 80% Euro/Cad.Something worth looking.I have lot of pending shorts from 37 and up.
GJ
  • #59,834
  • Jun 28, 2013 11:23am Jun 28, 2013 11:23am
Quoting iahmedz
hmmm... best of luck. Check my trades on AUD. I am out of market now for some days {quote}
Its Good chance to gain some green Pips and you are Out so Funny for me
how dare you ignore your $ on this point ????? Come and Trade its a Good chance Best of luck
  • #59,835
  • Jun 28, 2013 11:24am Jun 28, 2013 11:24am
I'm a technical trader. I'd prefer higher timeframes, most preferred is H1. My concern is that H1 MA, EMA, WMA, Momentum is giving me clear sell signals.
Down channel is being hold, continuation flag indicates down, Price Action pointing down.

With other words I would say what I have learnt 5 years ago and still keeping it as one of the main rules: if the chart is starting in the top left hand corner and ends in the bottom right hand corner it's a bear trend. And vice versa.

That's why I'm confused...
  • #59,836
  • Jun 28, 2013 12:34pm Jun 28, 2013 12:34pm
Quoting sibajnok
I'm a technical trader. I'd prefer higher timeframes, most preferred is H1. My concern is that H1 MA, EMA, WMA, Momentum is giving me clear sell signals. Down channel is being hold, continuation flag indicates down, Price Action pointing down. With other words I would say what I have learnt 5 years ago and still keeping it as one of the main rules: if the chart is starting in the top left hand corner and ends in the bottom right hand corner it's a bear trend. And vice versa. That's why I'm confused...

You are correct Aussie is 100% down trend.To me it is severely oversold and retrace is due at least 300pips up.
My reasoning for buying.I trade daily and weekly charts.I hold orders at times weeks.
That being said I am also aware banks,hedge funds may have reasons to continue selling further down.One can never be 100% accurate.
If it was that easy I am sure entire nation of Nigeria would of trade forex instead of sending scam emails (come claim your ancestors 2 million but sent us 2k to process your money)
In trading, you have to be defensive and aggressive at the same time
  • #59,837
  • Jun 28, 2013 1:10pm Jun 28, 2013 1:10pm
Long 9140 TP 9310.
When Scalpers win, I lose and Vice varsa...
  • #59,838
  • Jun 28, 2013 1:24pm Jun 28, 2013 1:24pm
I go out of market when my mind tells me to go for it... but my technical analysis say don't do it. My mind is saying me buy buy buy... But I am not getting any buy signal for time being. Not to trade is part of my trading strategy.

Quoting Malik taxila
{quote} Its Good chance to gain some green Pips and you are Out so Funny for me how dare you ignore your $ on this point ????? Come and Trade its a Good chance Best of luck
  • #59,839
  • Jun 28, 2013 2:29pm Jun 28, 2013 2:29pm
Aussie should retrace, but it seems to be building another leg down, oversold or not. Lots of pressure, I guess.

Think I may have found a confluence in the chart, between 0.89222 and 0.88426, the blue color area. If this is correct, this may be the zone to look at for a good retrace. Plus levels were kind of respected in the past more than once...

Of course, I may be wrong, don't want to fool anyone...

PS - The minor Fibo was drawn from a daily/weekly pivot, which cannot be seen properly in this monthly chart.
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  • #59,840
  • Jun 28, 2013 5:34pm Jun 28, 2013 5:34pm
aud is now playing on borderline. Any further, we will vitenss black swan scenario.

fundamentally, aud is really value of rocks and no more. rest is built on debt. with approaching/escalating trouble in UK, AU mother country, possibility of extended & furious down move should not be discounted. My calcs targeting around 78 in couple of weeks if this shock scenario unfolds. So, will not be buying lows this time without a stop. Will prepare for possibility of sharp downmove, which is the prime time to bring your account balance to new unexpected levels .
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