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AUD/USD

  • #61,381
  • Aug 2, 2013 7:58am Aug 2, 2013 7:58am
Quoting Malik taxila
AUS_Sep asi told you guys I am with long and I dun blve on SL 70% Recovered after few more up side point my green pips will show me
So you're still down 30 percent? What is that telling anyone.

I was talking with a buddy about everyone trying to find the bottom. It comes down to this: those that trade small enough can potential wait it out. It does mean you "win" the trade. It means your entry is wrong and you're praying it recovers.

The second type of trade continuously tries hoping to catch the bottom, but he keeps getting stopped out. He tries 10x with 20-50 SL and lose each time because he goes against the trend. He is now -200 to -500 pips. When you eventually catch the "bottom" you maybe make 200 to 500 pips and breakeven. What kind of success is that?

In the end, you may say you caught the bottom after months of trying, but what does it matter when it cost you 100s of pips to do so?
When the facts change I change my mind, what do you do sir
  • #61,382
  • Aug 2, 2013 7:58am Aug 2, 2013 7:58am
Quoting edindzeko
Sell the rally everytime...
Easy money
  • #61,383
  • Aug 2, 2013 8:03am Aug 2, 2013 8:03am
Quoting edindzeko
Sell the rally everytime...
your money may be gone if you sell every time.
  • #61,384
  • Aug 2, 2013 8:04am Aug 2, 2013 8:04am
lets see where this daily takes us this might be a time to start buying dips
  • #61,385
  • Aug 2, 2013 8:04am Aug 2, 2013 8:04am
Quoting yaphets
{quote} your money may be gone if you sell every time.
That's why you enter wisely. Your money may be gone if you buy all the time, conversely.

It's already heading back to .89
When the facts change I change my mind, what do you do sir
  • #61,386
  • Aug 2, 2013 8:06am Aug 2, 2013 8:06am
up, ... and down.... and up?...... and down......?
  • #61,387
  • Aug 2, 2013 8:10am Aug 2, 2013 8:10am
Quoting yaphets
{quote} your money may be gone if you sell every time.
Hasn't failed me on this pair in weeks. When the fundamental landscape changes, I'll change my strategy.

Until then, even terrible USD news cannot save AU...
  • #61,388
  • Aug 2, 2013 8:10am Aug 2, 2013 8:10am
how do I find the trend:

buy and if win it is uptrend. if loss is downtrend.

now is downtrend.
  • #61,389
  • Aug 2, 2013 8:14am Aug 2, 2013 8:14am
Follow your charts, and when in doubt,PULL OUT!
  • #61,390
  • Aug 2, 2013 8:15am Aug 2, 2013 8:15am
Quoting edindzeko
{quote} Hasn't failed me on this pair in weeks. When the fundamental landscape changes, I'll change my strategy. Until then, even terrible USD news cannot save AU...
  • #61,391
  • Aug 2, 2013 8:20am Aug 2, 2013 8:20am
Quoting edindzeko
{quote} Hasn't failed me on this pair in weeks. When the fundamental landscape changes, I'll change my strategy. Until then, even terrible USD news cannot save AU...
too many variables affect Aussie. It trends with yen and gold. The unemployment is rising and businesses are not doing so well. The budget deficit increased and expect 33.3 billion in revenue shortages over the next four years.

Analyze fundamentally, trade technically IMO.
When the facts change I change my mind, what do you do sir
  • #61,392
  • Aug 2, 2013 8:24am Aug 2, 2013 8:24am
Quoting Pip Anon
{quote} Analyze fundamentally, trade technically IMO.

I'm with ya partner. The only technical analysis I need though is a rally of 60+ pips and looking at S/R.

Keep it simple with this pair and you will see some of the easy trades of your career
  • #61,393
  • Aug 2, 2013 8:27am Aug 2, 2013 8:27am
In the wild, bears eat bulls. In forex seems to be the same at the moment
  • #61,394
  • Aug 2, 2013 8:28am Aug 2, 2013 8:28am
Quoting vladirich
In the wild, bears eat bulls. In forex seems to be the same at the moment
bulls are delicious..
  • #61,395
  • Aug 2, 2013 8:32am Aug 2, 2013 8:32am
said the bear
  • #61,396
  • Aug 2, 2013 8:36am Aug 2, 2013 8:36am
Quoting edindzeko
{quote} I'm with ya partner. The only technical analysis I need though is a rally of 60+ pips and looking at S/R. Keep it simple with this pair and you will see some of the easy trades of your career
It happens so often that you can almost predict it before it happens. Wait till the last green candle to print, wait the first red, sell of the second.

I mean now it's making another low lol. This is rich. Like the 5th one this week on the 4H
When the facts change I change my mind, what do you do sir
  • #61,397
  • Aug 2, 2013 8:40am Aug 2, 2013 8:40am
Quoting Pip Anon
{quote} It happens so often that you can almost predict it before it happens. Wait till the last green candle to print, wait the first red, sell of the second. I mean now it's making another low lol. This is rich. Like the 5th one this week on the 4H
I am blown away by the downward pressure on this pair. USD news was as bad as Bulls could hope for, yet we hit a new low.

I am wondering now if RBA rate cut would have much of an effect, or could we soon find a bottom (has to be out there somewhere...?)
  • #61,398
  • Aug 2, 2013 8:45am Aug 2, 2013 8:45am
Quoting edindzeko
{quote} I am blown away by the downward pressure on this pair. USD news was as bad as Bulls could hope for, yet we hit a new low. I am wondering now if RBA rate cut would have much of an effect, or could we soon find a bottom (has to be out there somewhere...?)
which part is bad?
UR is lower..
inflation is higher...
  • #61,399
  • Aug 2, 2013 8:45am Aug 2, 2013 8:45am
Quoting edindzeko
{quote} I am blown away by the downward pressure on this pair. USD news was as bad as Bulls could hope for, yet we hit a new
low. I am wondering now if RBA rate cut would have much of an effect, or could we soon find a bottom (has to be out there somewhere...?)

I think it's pushing to .877 IMO.
When the facts change I change my mind, what do you do sir
  • #61,400
  • Aug 2, 2013 8:46am Aug 2, 2013 8:46am
Quoting HelloOz
{quote} bulls are delicious..
Trade the reaction, not the news!
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