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AUD/USD

  • #72,581
  • Feb 12, 2014 7:46pm Feb 12, 2014 7:46pm
Quoting Chaits26
New to Forex. Second Post at FOREXFACTORY.com. I lost some right after the release and entered Sell AUD/USD. Currently on my little profit for the day.....since I am learning...and currently trying to recover my losses since last three days...not sure what should I do...do you guys suggest me keeping me for a while...lets say an hour or two. Any suggestion will be highly appreciated.
Focus on developing your own plan for entry and exit, whether price goes with or against you. If you are reliant on others' views than you will not succeed. Trade small lots until you are very confident in your systems and have learnt to manage your emotions. This may take years.
Hope for the best, prepare for the worst.
  • #72,582
  • Feb 12, 2014 7:58pm Feb 12, 2014 7:58pm
Quoting Boy Wonder
I think there is a good chance that we go up by another 100 pips on A/U over the next 24 hours.
The pair indeed moved by more than 100 pips! as per your prediction. ...... but to the downside.
The true fact is market doesn't care, risk mgt is important.
  • #72,583
  • Feb 12, 2014 8:02pm Feb 12, 2014 8:02pm
Quoting Ssm
{quote} The pair indeed moved by more than 100 pips! as per your prediction. ...... but to the downside.

I got everyone of those pips
  • #72,584
  • Feb 12, 2014 8:06pm Feb 12, 2014 8:06pm
I am entering long. Aiming for 0.8960-0.8970. Then short again.
  • #72,585
  • Feb 12, 2014 8:22pm Feb 12, 2014 8:22pm
Quoting dab
{quote} Focus on developing your own plan for entry and exit, whether price goes with or against you. If you are reliant on others' views than you will not succeed. Trade small lots until you are very confident in your systems and have learnt to manage your emotions. This may take years.
Thanks Dab! I am kinda learning to control emotions on Exit...but finding it hard to limit my profits...howsoever little they are
  • #72,586
  • Feb 12, 2014 8:23pm Feb 12, 2014 8:23pm
Quoting Ssm
{quote} The pair indeed moved by more than 100 pips! as per your prediction. ...... but to the downside.
Oh dear, oh dear, oh dear! How, how can that be?!

Quoting Boy Wonder
{quote} John I look at many things, and my conclusion is that there is a better than 50-50 chance that this goes up by 100 pips over the next 24 hours. That is regardless of the content of the employment report. The setup is there for this to go up by another 100 pips. I am still short and I will still be short 100 pips higher. Beyond that I will be greasing myself into damage limitation mode, probably by selling a shitload of ATM puts.
Hey and guess what? I'm still heavy short muthafucka, and laughing my fucking arse off!

So yeah baby!
I have no clue what I'm talking about.
  • #72,587
  • Feb 12, 2014 8:44pm Feb 12, 2014 8:44pm
SHORT at 0.8940 for 0.890.

Cheers
  • #72,588
  • Feb 12, 2014 9:03pm Feb 12, 2014 9:03pm
Quoting Chaits26
New to Forex. Second Post at FOREXFACTORY.com. I lost some right after the release and entered Sell AUD/USD. Currently on my little profit for the day.....since I am learning...and currently trying to recover my losses since last three days...not sure what should I do...do you guys suggest me keeping me for a while...lets say an hour or two. Any suggestion will be highly appreciated.
Something I learnt long ago is, Never let a winner turn into a loser.

I have found it beneficial to either take some profit off the table or adjusting the stop so if the market moves against you, at least you didn't see a loss when it was actually a winner.

Forex is to be viewed like a marathon not a sprint. Its time in the seat watching the markets, developing your method or system and removing the psychological weaknesses that are there, that will eventually make Forex profitable and rewarding.

Best of luck.
"It's life, Jim, but not as we know it."
  • #72,589
  • Feb 12, 2014 9:36pm Feb 12, 2014 9:36pm
Quoting Chaits26
New to Forex. Second Post at FOREXFACTORY.com. I lost some right after the release and entered Sell AUD/USD. Currently on my little profit for the day.....since I am learning...and currently trying to recover my losses since last three days...not sure what should I do...do you guys suggest me keeping me for a while...lets say an hour or two. Any suggestion will be highly appreciated.
after morning drop...i'm waiting for retracement then want to sell again.
  • #72,590
  • Edited 10:06pm Feb 12, 2014 9:42pm | Edited 10:06pm
im so noob, but i think it takes guts to show what you think, and you must be able to commit or you will never be anything in this game, so here is what i see. I would appreciate any of you pros checking out my screenshot and giving your opinion.
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  • #72,591
  • Edited 10:08pm Feb 12, 2014 9:52pm | Edited 10:08pm
Quoting eurusd_trade
{quote} ok yeah, i'm pretty sure this is a confirmed break at this point, and we're in no man's land/empty space, so it's probable to see weakness risk is trading very poorly on the open i wouldn't chase the move but i'm also not buying here until the picture clears up more 891x is pretty cirtical support, if that goes it opens up 885x again same 90.8x in AJ be especially cautious with AJ longs, since UJ is stillhigh (and falling) and AU is closer to critical support than AJ
speak of the devil guys, UJ is already taking a crack again at 4H support buoyed by the prospects of a poor US retail sales number tomorrow and a broken AJ. Actually, technically we are already through 4H support, but not through the stops sub 102. The stops could be dependent on the number turning out bad before they get triggered, but if they trigger BEFORE the number even comes out then watch out we could see something like 101.50 tomorrow.
i view the triggering BEFORE the number as a less likely outcome as eventually they may wish to run 102.7x as well but we'll have to see.
  • #72,592
  • Feb 12, 2014 10:28pm Feb 12, 2014 10:28pm
Quoting Boy Wonder
{quote} Oh dear, oh dear, oh dear! How, how can that be?! {quote} Hey and guess what? I'm still heavy short muthafucka, and laughing my fucking arse off! So yeah baby!
Congrats!
The true fact is market doesn't care, risk mgt is important.
  • #72,593
  • Feb 12, 2014 10:32pm Feb 12, 2014 10:32pm
AUD .8945

Market has been caught long and lumped at .8980-.9000 with stops.

NO real bounce at all and more than likely we will see another sell off from frustrated long position holders.

I think in the bigger picture its range bound anyway. .8880-.8900 likely tested before more support at .8820

Australian Equities could turn lower as banks stocks look offered now who were responsible for the buy up in the first place.


happy hunting
  • #72,594
  • Feb 13, 2014 12:55am Feb 13, 2014 12:55am
Quoting Chaits26
New to Forex. Second Post at FOREXFACTORY.com. I lost some right after the release and entered Sell AUD/USD. Currently on my little profit for the day.....since I am learning...and currently trying to recover my losses since last three days...not sure what should I do...do you guys suggest me keeping me for a while...lets say an hour or two. Any suggestion will be highly appreciated.
Demo accounts..
I ran demo accounts for 2 years, made a goal for myself that once I took 5,000 ponies too (Austin Powers) 1 Million ponies I would start using real money.

This is not a game where a person will win long term on luck alone or gut feel, forex will take the shirt right of your back if you are not careful.
But with planning, strategy and your trading RULES that you set yourself you can make good coin.
A genius is born every minute, me I am lucky if my socks match.
  • #72,595
  • Feb 13, 2014 1:02am Feb 13, 2014 1:02am
Fuck 'em. I want my Aussie dollars. I'd rather sit on my aussie dollars and 3% then a jerkoff to .25%. I'd rather sit on Aussie dollars then the USD following the JPY into oblivion. This news mentality and short term technical analysis does no one any good anyhow. Yellin is supposed to bring the USD down while nothing has changed iin US politics and the Republicans have finally capitulated to continuous spending and no oversight? Gimme a break man! AUD, parity and beyond! AUD has the resources, China has the means, USD has the printing press. Long term,, fuck it, leave it in AUD and enjoy retirement
  • #72,596
  • Feb 13, 2014 1:05am Feb 13, 2014 1:05am
seeing small-ish spikes due to London coming online early rises and all as expected. But as the dust settles expecting we will see 0.89038 and below (fingers crossed, donkey slap) before the release of employment figures tomorrow from the US. Not enough study for me into the US figures just yet.
A genius is born every minute, me I am lucky if my socks match.
  • #72,597
  • Feb 13, 2014 1:09am Feb 13, 2014 1:09am
my new noob guess .8966
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  • #72,598
  • Feb 13, 2014 1:14am Feb 13, 2014 1:14am
Quoting TheTopBloke
Fuck 'em. I want my Aussie dollars. I'd rather sit on my aussie dollars and 3% then a jerkoff to .25%. I'd rather sit on Aussie dollars then the USD following the JPY into oblivion. This news mentality and short term technical analysis does no one any good anyhow. Yellin is supposed to bring the USD down while nothing has changed iin US politics and the Republicans have finally capitulated to continuous spending and no oversight? Gimme a break man! AUD, parity and beyond! AUD has the resources, China has the means, USD has the printing press. Long...
^Great, Awesome, Bloody Beut.. I like it.
Chaits26... if you are long and have the margin, yes totally agree the TheTopBloke.

AUD will get above parity again, after a bit more of a fall. I am waiting for a bottom figure and then will be putting in a large-ish long term long.
Maybe at a 7 handle depending on the US data of course, but if employment data tomorrow is bad, really bad then the AUD might shoot back to this mornings (AUD timeframe) level of .90500 + . But with a strategy you will have your long term trades and your scalps / short term trades and the margin to cater for both. Dont get greedy and use small lots. <advise I should take myself>
A genius is born every minute, me I am lucky if my socks match.
  • #72,599
  • Feb 13, 2014 1:17am Feb 13, 2014 1:17am
Looking for downward move to continue in next couple mins to weekly pivot @ .8889
He who knows when he can fight and when he cannot, will be victorious.
  • #72,600
  • Feb 13, 2014 1:43am Feb 13, 2014 1:43am
Quoting c3p0
im so noob, but i think it takes guts to show what you think, and you must be able to commit or you will never be anything in this game, so here is what i see. I would appreciate any of you pros checking out my screenshot and giving your opinion. {image}

To be honest I cant see your chart very well as you have more lines and colours than a Picasso painting. I was always told to keep your screen clear and trade price not indicators. Seeing as we are high on the 240 curve I wouldn't be taking any longs as in a down trend price respects supply more than it respects demand!
Trading comes quickly, patience and discipline does not!
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