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GBP/AUD - Daily Trading

  • #101
  • Aug 6, 2013 2:27pm Aug 6, 2013 2:27pm
Quoting henkipips
Well in this period he had some neg trades, the rest non or less..maybe there is a personal reasom or whatever...
Have a piece of cake on me, at least then I know what you are on!

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It takes a lot for me to IGNORE you, but you can try.
  • #102
  • Aug 6, 2013 2:38pm Aug 6, 2013 2:38pm
Lol
that cake would rather sell good here in amsterdam!
  • #103
  • Aug 6, 2013 3:59pm Aug 6, 2013 3:59pm
Quoting henkipips
Lol that cake would rather sell good here in amsterdam!
yes, I noticed after I posted and checked you name that you are in Netherlands!

My parents from Friesland by the way

http://en.wikipedia.org/wiki/Friesland
It takes a lot for me to IGNORE you, but you can try.
  • #104
  • Sep 2, 2013 11:25pm Sep 2, 2013 11:25pm
Gbp/Aud Put a sell Limit On @1.7240 Sl 1.7400 Tp 1.6950
  • #105
  • Sep 11, 2013 12:30pm Sep 11, 2013 12:30pm
GbpAud to test 1.72000 LVL, IMO..... I marked my charts in morning & it played out pretty well.... climed +80 pips in time, thanks to claimount count data! Awaiting for it to break out of wedge pattern. If it happens that it break's out of wedge pattern, then probability of testing 1.72000 is pretty much assured. But always be caution on any trading plan, as market is BOSS!
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Risk / Trade Management is the name of the Game
  • #106
  • Oct 2, 2013 2:17am Oct 2, 2013 2:17am
Hello everyone

Looking around what's new on the FF forums, I noted this thread dedicated to GBP/AUD and I could not just passing by without share with you my view on this pair as I see a top around 1.7400 level and mostly a bearish divergence with the RSI on the daily chart so I think it's time to short this pair. If someone is interested to a more accurate analysis of this pair and also to see my chart, you can find it here: http://www.forex-galaxy.com/2013/10/...-on-daily.html
Buy when everyone else is selling and sell when everyone else is buying !
  • #107
  • Oct 2, 2013 6:21am Oct 2, 2013 6:21am
Quoting arenoosh
Hello everyone Looking around what's new on the FF forums, I noted this thread dedicated to GBP/AUD and I could not just passing by without share with you my view on this pair as I see a top around 1.7400 level and mostly a bearish divergence with the RSI on the daily chart so I think it's time to short this pair. If someone is interested to a more accurate analysis of this pair and also to see my chart, you can find it here: http://www.forex-galaxy.com/2013/10/...-on-daily.html
That's interesting. I have a long going with this at the moment and currently about 300 pips up. Yes I see the bearish divergence, but the bearish blip we had yesterday might have been it as it's in a strong uptrend. I don't think I'll close the trade just yet...
  • #108
  • Oct 2, 2013 12:09pm Oct 2, 2013 12:09pm
My view. Stop and target on chart.
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  • #109
  • Oct 2, 2013 2:23pm Oct 2, 2013 2:23pm
Actually 1.7480 is very likely. I will put target there.
  • #110
  • Oct 3, 2013 12:40am Oct 3, 2013 12:40am
Quoting Zappa
My view. Stop and target on chart. {image}
I guess ur SL got hit and still the 1.7480 is a valid target. Timing is everything in Forex. U can be on the right side of the trade but if u are at the wrong time is more painful cause u risk to see ur SL hit and then the rate action to go for your target. This is very difficult (impossible if u ask me) to manage when u trade on 15 min chart. I never look on less than daily chart and mostly I use weekly for my trades. This does not make me a better trader but helps me to avoid intra-day volatility.
Don't worry, you may lost a battle but not the war. Keep fighting Zappa
Buy when everyone else is selling and sell when everyone else is buying !
  • #111
  • Oct 3, 2013 1:23am Oct 3, 2013 1:23am
I had my SL at +200 pips but chickened out at +230. Arenoosh, you were right!
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  • #112
  • Oct 3, 2013 7:29am Oct 3, 2013 7:29am
Trying again here at 7204
  • #113
  • Oct 3, 2013 7:31am Oct 3, 2013 7:31am
I'll give this 100 pips stop. Target is same as before, 7480.
  • #114
  • Oct 3, 2013 7:39am Oct 3, 2013 7:39am
Quoting arenoosh
{quote} I guess ur SL got hit and still the 1.7480 is a valid target. Timing is everything in Forex. U can be on the right side of the trade but if u are at the wrong time is more painful cause u risk to see ur SL hit and then the rate action to go for your target. This is very difficult (impossible if u ask me) to manage when u trade on 15 min chart. I never look on less than daily chart and mostly I use weekly for my trades. This does not make me a better trader but helps me to avoid intra-day volatility. Don't worry, you may lost a battle...
Getting my stop hit happens. It sucks and I hate losing, especially when I post a trade on FF, but what can you do? But the stop was tight relative to target, and now I am in at a much better price, with an even better r/r, so...

I appreciate the encouragement, Arenoosh. I've been fighting for over ten years now, so no lack of a fighting spirit here.
  • #115
  • Oct 3, 2013 8:40am Oct 3, 2013 8:40am
@zappa Same with me in gbpaud today i can make huge profit but due to tight stoploss it ruined my all profit today.
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  • #116
  • Oct 3, 2013 11:18am Oct 3, 2013 11:18am
Quoting sachinkumar
@zappa Same with me in gbpaud today i can make huge profit but due to tight stoploss it ruined my all profit today. {image}
Yeah, it's tough trying to win when you are giving the market 60 pips and you want 300 out of it if you are right. But to me, there is no reason to give a market more room to go against you if your analysis says you were wrong. Remember, with a 1:4 r/r trade you only need to nail 1 out of 4 to break even, and usually you can add some size to the trade without increasing the initial risk as the trade proves you right. By the end of a successful trade you very well may have made 10 times what you risked. Plus, there are other factors that can increase it even further such as the market making it obvious that it is going to go considerably past your target, in which case you would increase your target.

That is what I did with the USDJPY trade I'm in right now. My first target was 97.00, but after seeing the market build steam over the last week, I am confident in waiting for 95.00 to take profits. Plus, I have added shorts on rallies. Not a lot, but about a 25% increase from initial size. That trade started out as a 1:3 r/r trade, now it is closer to a 1:7 r/r trade and that does NOT include the added size which increases it even more.

The main concern is getting stopped out a lot and then you've got to lower your size. To avoid this, one must simply trade with less. Small enough to withstand a nasty drawdown, but big enough to keep you interested.
  • #117
  • Oct 3, 2013 12:46pm Oct 3, 2013 12:46pm
And one more thing. Just as one should be ready to expand target if market is telling them to, they also need to be ready at all times to exit if market gives clues to possible reversal. I wrote this in the USDJPY thread a few minutes ago.

"Not liking what I'm seeing for my short position. Just took profits 97.29. Trying some new trade, but going to take a break from FF. Good luck guys/gals."
  • #118
  • Feb 5, 2015 2:30pm Feb 5, 2015 2:30pm
thread died? can't trade this pair daily any way

4 week high side break out, a la Donchian

anyone reading this, do you know any Donchian or Bollinger Bands threads, please advise

thanks, John
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It takes a lot for me to IGNORE you, but you can try.
  • #119
  • Aug 28, 2015 8:48am Aug 28, 2015 8:48am
This is a pair with poor volume, so when the rate hit your SL or TP, you can not close the deal.
I got slippage of this pair in my broker FXpro with 20 pip standard. I swear never touch this pair again, with what ever cost!
  • #120
  • Nov 15, 2015 3:15am Nov 15, 2015 3:15am
This is my favourite pair. Very volatile and very profitable if you got the right instinct. Can produce amazing result....
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