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AUD/USD

  • #69,581
  • Nov 13, 2013 9:49am Nov 13, 2013 9:49am
Quoting TheTopBloke
{quote} Without risk, it's just a hedge. What's the point? Too technical for me.
Top Bloke,

do you understand this process, I am lost in it??
Mark up
Make sure that the light at the end of the tunnel is not an on coming train
  • #69,582
  • Nov 13, 2013 10:05am Nov 13, 2013 10:05am
Quoting Crazy-Trader
{quote} It's not just an hedge. it's more like a reversed hedge.... If price goes up... then Order 3 can be Lotsize Order 2 * 2 Until Order X where lotsize could be big while Risk = 0... it worths to be technical
Your risk is your paper profits, which is not risk = 0.
  • #69,583
  • Nov 13, 2013 12:00pm Nov 13, 2013 12:00pm
.9525 would be nice ...
I have no clue what I'm talking about.
  • #69,584
  • Nov 13, 2013 12:09pm Nov 13, 2013 12:09pm
Quoting Mark up
{quote} Top Bloke, do you understand this process, I am lost in it?? Mark up
All I know is, I'm not the only one out there that understands you can drive yourself insane trying to invent the perfect system.

In the end it all comes down to making a profit. Sometimes you do, sometimes you don't. I don't like sitting in front of the monitor all day, so my strategies are very different. Often times I won't even trade. At most I'll trade once a day. I like to remind myself that there's a 2/3 chance you'll not lose money. First, you take profit, second, you close out a position with no profit, no loss. and of course third, you lose.

For the record, I have in the past tried to automate processes, and for me it's just a waste of time. I'd rather just flip a coin sort of speak. I look at the fundamentals, and a few charts to confirm, and I'm looking to make trades where the profits are above 100 pips minimum, no matter what the size of the position.
  • #69,585
  • Nov 13, 2013 12:14pm Nov 13, 2013 12:14pm
Quoting Boy Wonder
.9525 would be nice ...
I'm all for a bullish AUD but I closed my long for 40 pips just there againgst the USD. Risk currencies look a bit toppy again I wasn't exactly convinced with the AUD bounce off .9280 and it's now at a resistance level which was former support. The lackluster attempt at bouncing off .9280 doesn't instill much confidence in me that we cam really break .9330.. If I'm wrong I don't mind I'm short the eur/aud and long the aud/nzd which admittedly are under water.. But I think if you wanna make money off the AUD there's easier ways than taking on the almighty dollar.. Just my opinion but another 200 pips upside, not in my eyeline
  • #69,586
  • Nov 13, 2013 12:14pm Nov 13, 2013 12:14pm
Quoting Crazy-Trader
{quote} It's not just an hedge. it's more like a reversed hedge.... If price goes up... then Order 3 can be Lotsize Order 2 * 2 Until Order X where lotsize could be big while Risk = 0... it worths to be technical
Technically speaking, a hedge is supposed to be a position that limits your down side, limits your potential losses. I know that's not how most people actually trade and yet they call it a hedge. It looks like what you're doing is compounding the size of the trade (doubling down) based on the profit perceived from a position that has not closed yet. If I have it backwards, then all you're doing is losing profit on a trade you haven't yet closed but are making a profit on. Either way, wouldn't you rather just close the position and secure the profit?
  • #69,587
  • Nov 13, 2013 12:32pm Nov 13, 2013 12:32pm
Quoting RodMca
{quote} I'm all for a bullish AUD but I closed my long for 40 pips just there againgst the USD. Risk currencies look a bit toppy again I wasn't exactly convinced with the AUD bounce off .9280 and it's now at a resistance level which was former support. The lackluster attempt at bouncing off .9280 doesn't instill much confidence in me that we cam really break .9330.. If I'm wrong I don't mind I'm short the eur/aud and long the aud/nzd which admittedly are under water.. But I think if you wanna make money off the AUD there's easier ways than taking...
Fair enough. But 200 pips is not much in the scheme of things. It's probably around or just more than the average weekly range.
The trouble with the euro is that there are mutterings that it could be the next JPY.
I have no clue what I'm talking about.
  • #69,588
  • Nov 13, 2013 12:37pm Nov 13, 2013 12:37pm
Quoting Boy Wonder
{quote} Fair enough. But 200 pips is not much in the scheme of things. It's probably around or just more than the average weekly range. The trouble with the euro is that there are mutterings that it could be the next JPY.
200 is an awful long way when there's many selling points and not an awful lot of demand for the currency not to mention how close we are to the neckline, I like piptrapper have become fond of the sleep test if I can't sleep because of a trade it's best to close it otherwise you're not confident which is why I closed mine.. I'm just giving my opinion I may be wrong but that's how I roll.. And a multirange currency is a traders wet dream that we cam pick excellent sr levels and trade them not invest
  • #69,589
  • Nov 13, 2013 2:31pm Nov 13, 2013 2:31pm
Quoting TheTopBloke
{quote} Technically speaking, a hedge is supposed to be a position that limits your down side, limits your potential losses. I know that's not how most people actually trade and yet they call it a hedge. It looks like what you're doing is compounding the size of the trade (doubling down) based on the profit perceived from a position that has not closed yet. If I have it backwards, then all you're doing is losing profit on a trade you haven't yet closed but are making a profit on. Either way, wouldn't you rather just close the position and secure...
Yes we could just take profit... I like to give a go when market is ranging. Profit order 1 is "sacrificied" to protect order 2
If Pips_Diff is high, then you can compound more than double.. and if you repeat this step 2 or 3 times, you handle high Lots without risk and can make big profit with the last trade.

In practice, it's not that easy! : ( => Little of technical analysis, patience, timing, luck)
$10K Live Account... 3 months investor testing!
  • #69,590
  • Nov 13, 2013 2:53pm Nov 13, 2013 2:53pm
Nzdusd is a perfect sell stop 0.8242 ! Set and forget !!!
  • #69,591
  • Nov 13, 2013 3:26pm Nov 13, 2013 3:26pm
Quoting okanemici
Nzdusd is a perfect sell stop 0.8242 ! Set and forget !!!

You are posting this post in many other threads! Crazy. For what reason?
The Market pays you to be disciplined
  • #69,592
  • Nov 13, 2013 3:28pm Nov 13, 2013 3:28pm
Quoting mima
{quote} You are posting this post in many other threads! Crazy. For what reason?
Sharing is caring ! This is a perfect short trade.
  • #69,593
  • Nov 13, 2013 4:20pm Nov 13, 2013 4:20pm
Quoting okanemici
{quote} Sharing is caring ! This is a perfect short trade.
Those who say it cannot be done should not interrupt those who are doing it
  • #69,594
  • Nov 13, 2013 4:29pm Nov 13, 2013 4:29pm
0.94 ,0.9550 is coming

maybe 0.9670,0.9750 . When USD/RMB below 6.00 by the end of this year, AUD/USD would be 0.98+.
  • #69,595
  • Nov 13, 2013 4:37pm Nov 13, 2013 4:37pm
I know I'm on holidays but had to have a quick look on my phone and saw price action to my pleasant suprise. I didn't think price would reach 92xx this quickly and really is an overshoot. AUD to continue higher. It will be back in a 4H bullish channel (sorry can't attach guys) if it breaks above 9380-90 where it may find support base to re challenge 9530s and beyond. We are going to parity people in my eyes. Careful trading bears!
Cheers
  • #69,596
  • Nov 13, 2013 4:54pm Nov 13, 2013 4:54pm
Quoting PipTrapper
{quote}
Blind asked for one eye, God gave him two eyes My pending short didn't trigger but it jumped to 0.8294 which is the max it should go. 0.8294 is best of the best to short with a 0.8340 sl !
  • #69,597
  • Nov 13, 2013 4:59pm Nov 13, 2013 4:59pm
Quoting okanemici
{quote} Blind asked for one eye, God gave him two eyes My pending short didn't trigger but it jumped to 0.8294 which is the max it should go. 0.8294 is best of the best to short with a 0.8340 sl !
I had a EUR/USD pending short that didn't trigger at 1.3499
It might still hit later though.
Those who say it cannot be done should not interrupt those who are doing it
  • #69,598
  • Nov 13, 2013 6:27pm Nov 13, 2013 6:27pm
dang, it really bounce from 0.93 ish, and i m too scared to trade that, what a mess
  • #69,599
  • Nov 13, 2013 6:32pm Nov 13, 2013 6:32pm
I think this is last dance of AUD Bull.

Risk: China will release declaration in 1 week, next year‘s GDP target PROBABLY down to 7%-7.2% .
  • #69,600
  • Nov 13, 2013 6:35pm Nov 13, 2013 6:35pm
Risk on.. AUD rally soon..
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