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  • #64,921
  • Sep 11, 2013 9:54pm Sep 11, 2013 9:54pm
Quoting Pharm0r
{quote} First stop from here should be 9034
Yea, I just TP on some aussie. I take off to Boston in the morning, and I don't need any surprises 30,000 feet up lol. Grinding that dollar yen gap though.

Looking to re-enter additional AUD shorts with stops/limits
When the facts change I change my mind, what do you do sir
  • #64,922
  • Sep 11, 2013 9:55pm Sep 11, 2013 9:55pm
Quoting thewriter30
So i opened a long at 93.45...what should i do? honestly?|
No disrespect, but if you think that why open it

At least have an objective rather right or wrong
When the facts change I change my mind, what do you do sir
  • #64,923
  • Sep 11, 2013 9:59pm Sep 11, 2013 9:59pm
HI mate
I wrongly thought the price broke tough resistance, and thought again that was going to finally go up... non taken, i embrace any tips given...
  • #64,924
  • Sep 11, 2013 10:03pm Sep 11, 2013 10:03pm
Quoting thewriter30
HI mate I wrongly thought the price broke tough resistance, and thought again that was going to finally go up... non taken, i embrace any tips given...

What you should do depends on you.

Options:

1) Take your profit now. You have a really solid entry.
2) Put in a tight stop loss above your entry, so no matter what, you exit with a profit.
3) Let it ride, if you think this will recover and begin to go up again.
4) Put your stop loss below your entry and below support if you think this will come back down toward your entry and take out certain levels.

It all depends on your trading strategy and your bias on AUD/USD.
  • #64,925
  • Sep 11, 2013 10:06pm Sep 11, 2013 10:06pm
Hey Baggi
The entry was long unfort so it was terrible entry. Picked the top of the of the short, but long.
thanks. I don't have a bias for the AUD USD anymore. i am lost
  • #64,926
  • Sep 11, 2013 10:10pm Sep 11, 2013 10:10pm
Quoting thewriter30
So i opened a long at 93.45...what should i do? honestly?|

Hello thewriter30,
IMHO , Only you can tell what you should or shouldn’t do.
To date you’ve been down <90 pips.
How heavily weighted is your position.
What draw down = what percentage of your account
You need to know and should’ve known before you entered the trade where your threshold of pain is.
A lot of traders use 1 or 2 % risk as their guide.
For others it’s 5 - 10%
Purely depends on the type of trader you are and what your risk tolerance is
We should all know IF & THEN = if price does this then I’ll do that etc
If your position is weighted heavily and you’re beyond your risk tolerance then most will probably say it’s better to cut your losses and fight another day.
Others will fight to reclaim some if not all of their loss.
Once again only you can decide.
Don’t trade what other people suggest.
You need to know why you enter a trade and you need to know what you’ll do if price goes against you.

Good luck
  • #64,927
  • Sep 11, 2013 10:15pm Sep 11, 2013 10:15pm
Hi KCV, I also have an Alpari account but I cannot find the EMA indicator in the indicators list. All I see listed is moving averages...... Does it perhaps goe by a different name that EMA??? Thanks in advance for your help.. I am a somewhat new trader so please forgive my ignorance.
  • #64,928
  • Sep 11, 2013 10:16pm Sep 11, 2013 10:16pm
As I see this familiar pattern after the unenjoyment report came in very negative, there is no Chinese data to push the AUD up the rest of the week and come the open of the London session, the AUD will plummet more on this unenjoyment report. The only hope for the AUD is if the USD unenjoyment claims come in higher than the target. Last week the USD unenjoyment claims came in lower than target. I do not see anything the rest of the week to support the AUD. However, as always, I do appreciate constructive mature comments if I am missing something here.


Cheers!

Caz

AUD
down
down
down
  • #64,929
  • Sep 11, 2013 10:17pm Sep 11, 2013 10:17pm
Quoting thewriter30
HI mate I wrongly thought the price broke tough resistance, and thought again that was going to finally go up... non taken, i embrace any tips given...
Aussie is infamous for this. It always trades hard before data like this, and usually in the opposite direction of what expectations are (i.e. higher unemployment, trades higher to drop it.)

It's just a matter of experience.

Also, since you mentioned resistance. Be sure stretch out your charts. Sometimes traders are too short-term in terms of analysis. Historical S/R points will almost always hold better than short-term or small time periods.
When the facts change I change my mind, what do you do sir
  • #64,930
  • Sep 11, 2013 10:21pm Sep 11, 2013 10:21pm
Quoting Cazadores
As I see this familiar pattern after the unenjoyment report came in very negative, there is no Chinese data to push the AUD up the rest of the week and come the open of the London session, the AUD will plummet more on this unenjoyment report. The only hope for the AUD is if the USD unenjoyment claims come in higher than the target. Last week the USD unenjoyment claims came in lower than target. I do not see anything the rest of the week to support the AUD. However, as always, I do appreciate constructive mature comments if I am missing something...
And don't forget, US nonfarm last month was revised down from 162k to 104k. And for a minute "analysts" thought the US labor market was getting stronger!

I am wondering if to short USD through exotics to pick up on some swap been a while since I messed with that
When the facts change I change my mind, what do you do sir
  • #64,931
  • Sep 11, 2013 10:22pm Sep 11, 2013 10:22pm
Thanks all for the support and the comments. Basic stuff I know. i played a gamble there I suppose hoping to recover losses that now increased....I guess some of you been there than that....
  • #64,932
  • Sep 11, 2013 10:23pm Sep 11, 2013 10:23pm
Quoting mercie
{quote} Were you short or long???

sorry for the late reply mercie, i didn't see the post.
I was long from 9298.8 & stopped at 9299.0

cheers
  • #64,933
  • Sep 11, 2013 10:24pm Sep 11, 2013 10:24pm
Quoting dpaulinla
Hi KCV, I also have an Alpari account but I cannot find the EMA indicator in the indicators list. All I see listed is moving averages...... Does it perhaps goe by a different name that EMA??? Thanks in advance for your help.. I am a somewhat new trader so please forgive my ignorance.
Hi dpaulinla,

Its the same Moving Avg indicator, You have to select the Method.

check this pic.

KC.
Attached Image (click to enlarge)
Click to Enlarge Name: EMA_Pic.PNG Size: 94 KB
  • #64,934
  • Sep 11, 2013 10:28pm Sep 11, 2013 10:28pm
Quoting forexalien
{quote} great Job ! I have started to fade it short, it's near a high ,until proven different
posted 8 hours ago, and I still don't know what the news came out to be..................
The More You Learn, The More You Earn.....
  • #64,935
  • Sep 11, 2013 10:29pm Sep 11, 2013 10:29pm
thanks buddy
  • #64,936
  • Sep 11, 2013 10:29pm Sep 11, 2013 10:29pm
Quoting forexalien
{quote} I don't trade news, or care what the numbers are, the PA will go the direction it wants no mater what.........So...........use your indicators and see if it is a fake out or trend continuation and play it from there............... It's the Total Herd you need to be in tune with...............
Recommendation 5 hours ago..............
The More You Learn, The More You Earn.....
  • #64,937
  • Sep 11, 2013 10:30pm Sep 11, 2013 10:30pm
guess the falling speed is halted at 0.926 , take a breath for an hour or so
  • #64,938
  • Sep 11, 2013 10:31pm Sep 11, 2013 10:31pm
Quoting thewriter30
Spartan, me again. i pay you 20% of my profits if you give me your predictions.... fair business prop, right? Alien, you still think your pattern prediction will hold true?
What do you think.............?
The More You Learn, The More You Earn.....
  • #64,939
  • Sep 11, 2013 10:31pm Sep 11, 2013 10:31pm
Hey Pip Anon-
THANK YOU! This is the benefit of this site. Everyone helps everyone get perspective and we all win, buy our own country and create our own currency.... It's us against the bastards!


I thank you for being an extra set of eyes and your obvious seasoned experience. With that said, I think the revised 104K NF figure you shed light on is already digested by the market, however could show up in that USD unenjoyment report later. I still see a short term scalp down to .9234 or so somewhere around the time of the London open and the USD unenjoyment report. Just my 2C.


Cheers!

Caz
  • #64,940
  • Sep 11, 2013 10:33pm Sep 11, 2013 10:33pm
Hey ALien
i wish that answer came an 2 hours later "
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