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AUD/USD

  • #65,741
  • Sep 18, 2013 2:18pm Sep 18, 2013 2:18pm
Quoting 5percent
{quote} quit while its still early. Don't let it become revenged trading and chasing back losses, will only just snowball further. The best, leave your money somewhere safer or let the pros deal with it. Forex is just gambling to 90% of the beginners, in fact is 99%, been there done that, lose everything i gained from the market, learnt the lesson and moved on. Take a step back and stop trading. live goes on.
^^This is very good advice^^

Below is a real post from a trader's forum in the UK from a few days ago for you to consider:

14 Sep'13 - 23:11


Finally caught up on posts.
Hope everyone is well. There was some great trading over the last fortnight (some terrible trades too mind).
My personal situation isn't the best it's been.
RE: The missus; we're still split up and for now appears likely to remain that way. I'd be lying if I said the time I spend trading has not contributed to that, so that's something for all of us here to consider.
The result for now is she's moved out taking all the contents, plus I've paid quite a chunk towards furnishing her new place (as she has the kids), so I'm pretty much completely broke at the moment (£30 quid left in my overdraft limit to last till pay day), and in debt, don't even have a telly, but I still have my house with a fair bit of equity in it. Had to put things like a bed, fridge, freezer etc etc on credit cards, then returned to work to find I've been invited to a meeting ahead of a planned re-org. Fingers crossed on that one.
Despite all this, strangely, I'm not unhappy.
Kind of looking forward to rebuilding my life and meeting new people.
As for the markets, they were selling off when I went away and this was despite quite good data and very little news flow. Syria was barely in the news back then.
Yet 3 Weeks on there's been bad news everywhere including Syria, and the markets are actually higher!
That might be quite obvious to you all considering you were trading and I wasn't, but you may have overlooked it as I probably would have done.
I have no clue what I'm talking about.
  • #65,742
  • Sep 18, 2013 2:19pm Sep 18, 2013 2:19pm
Quoting thewriter30
in 2 months lost 2 months of salary...probably out soon. Just read this if you gambling,...and stop! call a 1800 line or sth!
Demo Demo Demo . micro micro micro , unless you follow patterns and the trend , you will lose..........wise choices must be made..............IMO
The More You Learn, The More You Earn.....
  • #65,743
  • Sep 18, 2013 2:20pm Sep 18, 2013 2:20pm
Quoting thewriter30
in 2 months lost 2 months of salary...probably out soon. Just read this if you gambling,...and stop! call a 1800 line or sth!
That's why a good MM is very important, I'm short from 0.9243, and my account can hold 10 times this... Right now I'm in big loss, but I can hold it until it comes down, and it will at some point!
  • #65,744
  • Sep 18, 2013 2:21pm Sep 18, 2013 2:21pm
Quoting thewriter30
thanks again guys... have any of u blown out 2 months salary?
You still have a few more months to burn, switch to demo....
The More You Learn, The More You Earn.....
  • #65,745
  • Sep 18, 2013 2:35pm Sep 18, 2013 2:35pm
Quoting thewriter30
in 2 months lost 2 months of salary...probably out soon. Just read this if you gambling,...and stop! call a 1800 line or sth!
Dude, I wish you luck, but we've all blown funds. If someone thought this was a get rich quick opportunity, utoh.
When the facts change I change my mind, what do you do sir
  • #65,746
  • Sep 18, 2013 2:37pm Sep 18, 2013 2:37pm
so most of you stayed out during this news right? and now are waiting patiently for ops to get long on AUD ....
  • #65,747
  • Sep 18, 2013 2:48pm Sep 18, 2013 2:48pm
Quoting fxtyrant
{quote} seriously no tapering today..... no change to interest rates but tapering too.... market heavy priced in tapering at 10bln... and theres none wtf... the Fed's credibility is in harm now
A closer inspection will show it has been the media masquerading as the FED mouthpiece that has no credibility. Ben himself never guaranteed anything but kept his data based guidance in tact. The media just went nuts with it and quoted the apparent opinions of irrelevant officials/ex officials and topped it off with their own BS spin on things.
Now waiting for the next debt ceiling debacle to AGAiN raise its ugly head
Come with me if you want to live....
  • #65,748
  • Sep 18, 2013 2:50pm Sep 18, 2013 2:50pm
Quoting forexalien
{quote} pretty flat and the fed is going under fire right now
heck of course they are under fire... they just caused a lot of uncertainty in the market.....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #65,749
  • Sep 18, 2013 2:50pm Sep 18, 2013 2:50pm
Quoting thewriter30
so most of you stayed out during this news right? and now are waiting patiently for ops to get long on AUD ....
I was in it, hedged dollar but my shirt still got a little dirty. Cut when it was time to cut and reevaluate. The point is not to throw your account's entire leverage into one trade.

If your 2, 5, or 10% threshold is hit get out and reevaluate. The trade doesn't go the way you thought, figure out why and fix it.
When the facts change I change my mind, what do you do sir
  • #65,750
  • Sep 18, 2013 2:51pm Sep 18, 2013 2:51pm
Quoting Ill-b-back
{quote} A closer inspection will show it has been the media masquerading as the FED mouthpiece that has no credibility. Ben himself never guaranteed anything but kept his data based guidance in tact. The media just went nuts with it and quoted the apparent opinions of irrelevant officials/ex officials and topped it off with their own BS spin on things. Now waiting for the next debt ceiling debacle to AGAiN raise its ugly head
the dollar weakness sure escalated fast....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #65,751
  • Sep 18, 2013 2:55pm Sep 18, 2013 2:55pm
Quoting fxtyrant
{quote} the dollar weakness sure escalated fast....
Yup, it's been gathering steam ever since the media started its tapering/$USD bull campaign,,,,
Come with me if you want to live....
  • #65,752
  • Sep 18, 2013 2:55pm Sep 18, 2013 2:55pm
Quoting thewriter30
so most of you stayed out during this news right? and now are waiting patiently for ops to get long on AUD ....
Nope. I was positioned for what happened. The only thing that didn't go as I expected it might was that we didn't see a fakeout to the downside before the vicious break to the upside.
I have no clue what I'm talking about.
  • #65,753
  • Sep 18, 2013 2:56pm Sep 18, 2013 2:56pm
Quoting thewriter30
in 2 months lost 2 months of salary...probably out soon. Just read this if you gambling,...and stop! call a 1800 line or sth!
Hi writer, sorry mate. My suggestion is not to go to demo but to deleverage. Go down to 1:1.
Have a look at some threads that are about supply and demand, adjusting mind set and how the markets work.
Learn to trade safe and most of all NEVER trade based on other peoples rantings.
Good luck

Gary
  • #65,754
  • Sep 18, 2013 3:00pm Sep 18, 2013 3:00pm
Quoting Ill-b-back
{quote} Yup, it's been gathering steam ever since the media started its tapering/$USD bull campaign,,,,
I believe it was a matter of "analysts" trying to jump the gun on the Fed train. They refused to let go of the Sept. taper even as Benny Boo repeated his statement over and over on potential taper.

To be quite honest, we really can't blame the Fed. Bernanke stuck to his words on when and why the taper would occur. Whether the market listens or not is another story.

It's always been a matter of the labor market and growing economic data. Last few months are mixed. He has repeated himself the last three FOMC yet the market freaks out now.
Attached Image
When the facts change I change my mind, what do you do sir
  • #65,755
  • Sep 18, 2013 3:17pm Sep 18, 2013 3:17pm
Looks like these moves are squeeze like.


EURUSD 165
GBPUSD 227
AUDUSD 171
When the facts change I change my mind, what do you do sir
  • #65,756
  • Sep 18, 2013 3:19pm Sep 18, 2013 3:19pm
Quoting Pip Anon
{quote} I believe it was a matter of "analysts" trying to jump the gun on the Fed train. They refused to let go of the Sept. taper even as Benny Boo repeated his statement over and over on potential taper. To be quite honest, we really can't blame the Fed. Bernanke stuck to his words on when and why the taper would occur. Whether the market listens or not is another story. It's always been a matter of the labor market and growing economic data. Last few months are mixed. He has repeated himself the last three FOMC yet the market freaks out now....
After the first 2 weeks of Taper ground hog day and reading the rediculous/child like headlines that started filtering through, I was quite sure something was up.
I don't trust the media one little bit, just doing their deceptive job....
Did their best to leave the Fed holding the credibility bag by quoting "other" Fed officials and their apparent views and twisting Bens words,
but no, you are right, Ben is not to blame here, and very convenient for the press conference guy to ask the fateful tapering timeline question......
Come with me if you want to live....
  • #65,757
  • Sep 18, 2013 3:25pm Sep 18, 2013 3:25pm
Quoting Ill-b-back
{quote} After the first 2 weeks of Taper ground hog day and reading the rediculous/child like headlines that started filtering through, I was quite sure something was up. I don't trust the media one little bit, just doing their deceptive job.... Did their best to leave the Fed holding the credibility bag by quoting "other" Fed officials and their apparent views and twisting Bens words, but no, you are right, Ben is not to blame here, and very convenient for the press conference guy to ask the fateful tapering timeline question......
Well I applaud BoA, apparently the only bank to say no taper. The fact is "we" are getting excited over the current data and it's not that great. However, Operation Endless Balance will no doubt blow the country up.

What I think should have happened was a taper with the condition that they can add back if needed. Now the market believes it prob won't happen for months if every. Bye bye greenback.
When the facts change I change my mind, what do you do sir
  • #65,758
  • Sep 18, 2013 3:27pm Sep 18, 2013 3:27pm
Quoting Pip Anon
{quote} Well I applaud BoA, apparently the only bank to say no taper. The fact is "we" are getting excited over the current data and it's not that great. However, Operation Endless Balance will no doubt blow the country up. What I think should have happened was a taper with the condition that they can add back if needed. Now the market believes it prob won't happen for months if every. Bye bye greenback.
yep
Come with me if you want to live....
  • #65,759
  • Sep 18, 2013 3:34pm Sep 18, 2013 3:34pm
What a day huh fellas!

Closed out my shorts. The fundamentals clearly don't favor dollar strengthening at the moment.
  • #65,760
  • Sep 18, 2013 3:37pm Sep 18, 2013 3:37pm
Opened up a small short from 0.952 looking for some minor retracement.
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