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AUD/USD

  • #72,981
  • Feb 20, 2014 6:12pm Feb 20, 2014 6:12pm
Quoting Rtm
Probably the best short right now I would say is AUDCAD. Right up on major resistance made a false break breakout of the previous high also a very big psych pivot number. {image}
considering that both currencies are extremely weak relative to the other majors, I'd say no. When you pair both weak currencies against each other usually yields a lot of side way and choppy trading. Great if you are a range trader, but no much if you are more of an trend trader.
Trade what you see, not what you think!
  • #72,982
  • Feb 20, 2014 6:14pm Feb 20, 2014 6:14pm
Quoting whackdiddy
{quote} Yep, I am with you on this one. Long for 2.0 @ .90104 and holding longer term.
Short from 0.90163
  • #72,983
  • Feb 20, 2014 6:18pm Feb 20, 2014 6:18pm
Quoting OMGtrader
{quote} considering that both currencies are extremely weak relative to the other majors, I'd say no. When you pair both weak currencies against each other usually yields a lot of side way and choppy trading. Great if you are a range trader, but no much if you are more of an trend trader.
im just trading what i see and thats price hitting a significant resistance level, now normally i would agree audcad is a bird however today we saw a 100pip move, now that is pretty strong if you ask me.
All posts are my personal opinion
  • #72,984
  • Feb 20, 2014 6:19pm Feb 20, 2014 6:19pm
Quoting 50pipsperday
{quote} Short from 0.90163
I just worked out your strategy, oppose me.. You are going to be a very rich person.
A genius is born every minute, me I am lucky if my socks match.
  • #72,985
  • Feb 20, 2014 6:22pm Feb 20, 2014 6:22pm
Quoting whackdiddy
{quote} I just worked out your strategy, oppose me.. You are going to be a very rich person.
Why will I be very rich? are you not sure of your position?
  • #72,986
  • Feb 20, 2014 6:43pm Feb 20, 2014 6:43pm
Quoting 50pipsperday
{quote} Why will I be very rich? are you not sure of your position?
No it is something I said when I first started trading, I had setup short cuts on my keyboard for buying selling and close.

So
ALT O for buy
ALT L for sell
ALT P for close

I was not going well and said to the forum, I should just swap the shortcuts so when I get the urge to buy I am actually selling

The dollar by all reckoning should be down below 0.90000 but every time the UK come online and then NY they bump it back over the 0.90000 mark.
Take last night for example, I had the following in.

2.0 short @ .89789 and TP @ .89712
0.20 buy @ .90074 and TP @ .90097 (this was going to be a long term hedge)

Both the above orders reached their TP and closed. Making me but was a bit unexpected.

So will it repeat this afternoon (AUD time 16:30), can we put in some long orders just before London come in and make a tidy profit?
A genius is born every minute, me I am lucky if my socks match.
  • #72,987
  • Feb 20, 2014 6:54pm Feb 20, 2014 6:54pm
Quoting whackdiddy
{quote} No it is something I said when I first started trading, I had setup short cuts on my keyboard for buying selling and close. So ALT O for buy ALT L for sell ALT P for close I was not going well and said to the forum, I should just swap the shortcuts so when I get the urge to buy I am actually selling The dollar by all reckoning should be down below 0.90000 but every time the UK come online and then NY they bump it back over the 0.90000 mark. Take last night for example, I had the following in. 2.0 short @ .89789 and TP @ .89712 0.20...
Just took 20 pips
  • #72,988
  • Feb 20, 2014 7:04pm Feb 20, 2014 7:04pm
Quoting 50pipsperday
{quote} Just took 20 pips
Nice one..

I am going to wait another hour or 2 and then take another long (if direction still down and below 0.9) with a TP of 0.90240.

Very interesting that Flash Manufacturing PMI release by US did not actually drive Aussie lower

Seeing some nice action now...
A genius is born every minute, me I am lucky if my socks match.
  • #72,989
  • Feb 20, 2014 7:19pm Feb 20, 2014 7:19pm
Quoting whackdiddy
{quote} Nice one.. I am going to wait another hour or 2 and then take another long (if direction still down and below 0.9) with a TP of 0.90240. Very interesting that Flash Manufacturing PMI release by US did not actually drive Aussie lower Seeing some nice action now...
PMI was neutral.
I am smart than average trader, I simply copy the best.
  • #72,990
  • Feb 20, 2014 7:22pm Feb 20, 2014 7:22pm
Quoting whackdiddy
{quote} Nice one.. I am going to wait another hour or 2 and then take another long (if direction still down and below 0.9) with a TP of 0.90240. Very interesting that Flash Manufacturing PMI release by US did not actually drive Aussie lower Seeing some nice action now...
$%$# I left another 20pips on the table ^&^%$#@
  • #72,991
  • Feb 20, 2014 7:46pm Feb 20, 2014 7:46pm
Quoting I-Robo
{quote} PMI was neutral.
Sorry I-Robo, sometimes I have conversation with myself and do not let others in on the beginning of the conversation.

I was expecting a below 50 on the PMI flash release and was viewing anything above 50 as being positive (really positive) half expecting it to be the spark to the world that US economy is going down hill again, this bad weather shopping sounds like spin to me and I am fully expecting things to turn sour again.
So with that mind set, seeing a 56.7 is like wow!!

Just grabbed a scalp
1.0 long @ 0.89862 with tp 0.89907
A genius is born every minute, me I am lucky if my socks match.
  • #72,992
  • Feb 20, 2014 8:01pm Feb 20, 2014 8:01pm
Another scalp.

1.0 long @ .89871 TP .89902

China is buying lots of gold, removing bonds from the US and buying gold to fortify their position. Meaning a stable China economy, which will benefit Aussie.
A genius is born every minute, me I am lucky if my socks match.
  • #72,993
  • Feb 20, 2014 8:28pm Feb 20, 2014 8:28pm
Quoting whackdiddy
Another scalp. 1.0 long @ .89871 TP .89902 China is buying lots of gold, removing bonds from the US and buying gold to fortify their position. Meaning a stable China economy, which will benefit Aussie.
so all that will just bring change of 3 pips?
I am smart than average trader, I simply copy the best.
  • #72,994
  • Feb 20, 2014 8:33pm Feb 20, 2014 8:33pm
Quoting I-Robo
{quote} so all that will just bring change of 3 pips?
Yes but depending on ratio you are using a 3 pip scalp can equate to nice quick return.
Many nice quick returns can be nice. This week has been a good week, return of 50%.
A genius is born every minute, me I am lucky if my socks match.
  • #72,995
  • Feb 20, 2014 8:41pm Feb 20, 2014 8:41pm
Quoting whackdiddy
Another scalp. 1.0 long @ .89871 TP .89902 China is buying lots of gold, removing bonds from the US and buying gold to fortify their position. Meaning a stable China economy, which will benefit Aussie.
Scalping for 3 pips. That's a good plan. Whats your SL / RRR?
The true fact is market doesn't care, risk mgt is important.
  • #72,996
  • Feb 20, 2014 8:51pm Feb 20, 2014 8:51pm
Quoting Ssm
{quote} Scalping for 3 pips. That's a good plan. Whats your SL / RRR?
SL is a bit sloppy and reverse to most best practice thinking with a larger SL than TP (playing with a nice large margin so have flexibility).
RRR is low, happy with 10% / week normally but has been an exceptional week with yesterday alone grabbing nearly 40%.
^.. Required Rate of Return
Or Reserve Requirement ratio.. I am playing to win, but also are using money I can loose.

Using both technical (fibo, stoch, bands) as well as fundamental, associating chart with expected investment time.
So if I am scalping I watch the 5 - 15 minute chart and wait for quiet movements (no news release, so no shocks)
Long term I change to my H4 - daily.

Will put my investor password back on so forexfactory can see later this afternoon.
A genius is born every minute, me I am lucky if my socks match.
  • #72,997
  • Feb 20, 2014 9:08pm Feb 20, 2014 9:08pm
Getting long here above the daily pivot + off this trendline for a scalp targeting todays R1 (0.9037)
Attached Image (click to enlarge)
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  • #72,998
  • Feb 20, 2014 9:34pm Feb 20, 2014 9:34pm
Trying to have a quick short AUD/USD with 10 pips SL but it seems forever due to current sideway market.
  • #72,999
  • Feb 20, 2014 9:42pm Feb 20, 2014 9:42pm
Quoting RBlackburn
Getting long here above the daily pivot + off this trendline for a scalp targeting todays R1 (0.9037) {image}
No good... stopped out (-12)... reversing position now short...
  • #73,000
  • Feb 20, 2014 9:44pm Feb 20, 2014 9:44pm
Quoting whackdiddy
{quote} SL is a bit sloppy and reverse to most best practice thinking with a larger SL than TP (playing with a nice large margin so have flexibility). RRR is low, happy with 10% / week normally but has been an exceptional week with yesterday alone grabbing nearly 40%. ^.. Required Rate of Return Or Reserve Requirement ratio.. I am playing to win, but also are using money I can loose. Using both technical (fibo, stoch, bands) as well as fundamental, associating chart with expected investment time. So if I am scalping I watch the 5 - 15 minute chart...
Great trading as long as you know what you are doing.
The true fact is market doesn't care, risk mgt is important.
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