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AUD/USD

  • #82,681
  • Jul 16, 2014 9:45am Jul 16, 2014 9:45am
Still short la la la

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  • #82,682
  • Edited 10:15am Jul 16, 2014 9:45am | Edited 10:15am
valuable lesson for all you aspiring traders, learn from these threads,there is very good hidden info within these boards...
  • #82,683
  • Jul 16, 2014 10:17am Jul 16, 2014 10:17am
Quoting Ken A
Still short la la la {image}
Funny how I still do not understand how to trade fundamentally. Technically, I was quite convinced about the shorts. But then CNY came out and Aussie down - did not want to risk anything and closed. Now after work I look at the charts ... just LOL Maybe should forget about the news altogether, or get some more experience with data somehow
Fix up, trade sharp ...
  • #82,684
  • Jul 16, 2014 10:23am Jul 16, 2014 10:23am
Quoting Hickson
{quote} Funny how I still do not understand how to trade fundamentally. Technically, I was quite convinced about the shorts. But then CNY came out and Aussie down - did not want to risk anything and closed. Now after work I look at the charts ... just LOL Maybe should forget about the news altogether, or get some more experience with data somehow
for about 5 years, i never looked at a forex calendar of events. saw quick spikes occur all over the place and knew some news was announced.
stayed focus on origin of moves, supply and demand, and did fine.. imo, and from my experience, fundies and news are incorporated into a chart already.
don't bother wasting your time with this stuff, cuz you can't figure it out anyways, case and point, cny news. so why bother...
keep your attention where it belongs...the answer is in the chart, always was, always will be. your wallet will thank you!

just a note, at that traders conference in NY city i attended, with some of the cream of the crop traders, never heard 'fundies' discussed once.
these were traders that most people don't ever get to meet. tech, tech, tech trading...nothing else... it was already understood that the value of fundies was at best, minimal!
  • #82,685
  • Jul 16, 2014 10:43am Jul 16, 2014 10:43am
waiting for a pullback...
  • #82,686
  • Jul 16, 2014 10:43am Jul 16, 2014 10:43am
Quoting nealpek
{quote} for about 5 years, i never looked at a forex calendar of events. saw quick spikes occur all over the place and knew some news was announced. stayed focus on origin of moves, supply and demand, and did fine.. imo, and from my experience, fundies and news are incorporated into a chart already. don't bother wasting your time with this stuff, cuz you can't figure it out anyways, case and point, cny news. so why bother... keep your attention where it belongs...the answer is in the chart, always was, always will be. your wallet will thank you!...
Yes, it is always the same, though now I do not tend to lose a lot like earlier, which is basically a good sign. But every try to mix up technicals with fundamentals turns out in total confusion for me. Maybe a lack of experience with fundamentals, maybe it is really not suited for me.
Fix up, trade sharp ...
  • #82,687
  • Jul 16, 2014 10:49am Jul 16, 2014 10:49am
Quoting Hickson
{quote} Yes, it is always the same, though now I do not tend to lose a lot like earlier, which is basically a good sign. But every try to mix up technicals with fundamentals turns out in total confusion for me. Maybe a lack of experience with fundamentals, maybe it is really not suited for me.
You trade too many pairs and reading too many threads and random posts lol

Get familiar with AUDUSD then you will understand what impacts the rate
  • #82,688
  • Edited 11:26am Jul 16, 2014 10:59am | Edited 11:26am
Quoting Hickson
{quote} Yes, it is always the same, though now I do not tend to lose a lot like earlier, which is basically a good sign. But every try to mix up technicals with fundamentals turns out in total confusion for me. Maybe a lack of experience with fundamentals, maybe it is really not suited for me.
last point.ken has a point. narrow your focus to a few instruments. what impacts the rate is still a micro view, though. fundamentally the large trend usually doesn't change, just the swing points within a larger move. thats why fundies don't seem so important to me...
main point. fundies should only be used as a very broad spectrum analysis. from what i know, huge moves 6 months to a year worth of up or down, can be useful, but remember fundies can have a 3-6 month lag with a real change in direction or trend. if you want to trade once or twice a year, fine..
if you want to participate in swings or position trading, you require technical for areas of entry and exit. i don't see how it can be done with fundies alone.
think of fundies as macro, and tech as micro. they do overlap, but imo, only on a very broad spectrum. certainly not for day to day involvement, or even weekly involvement...of course only imo!
  • #82,689
  • Jul 16, 2014 11:25am Jul 16, 2014 11:25am
Thoughts materialize. Unfortunately, there are few who really able to THINK, I better use the word CONTEMPLATE. Successful mixture of contemplation and learning from good and bad experience is called success.
anyway, back to discussion. fundamentals drive the market, no question. however, be careful, MOST of the data releases are intentionally falsified, they are statistically misleading. So not all news or data releases drive the market, more often they are just catalysts that pushes the market in the original direction if in line with the main trend, otherwise do nothing (as someone here was so puzzled how price acted after a news release). Therefore there are a few fundamental news/data can reverse the trend and if you neglect them wrongly comparing them to catalyst news, you are screwed big time.
As Above, So Below
  • #82,690
  • Jul 16, 2014 11:43am Jul 16, 2014 11:43am
Quoting Ken A
{quote} You trade too many pairs and reading too many threads and random posts lol Get familiar with AUDUSD then you will understand what impacts the rate
True, true ... want to learn it all, impossible of course.
Fix up, trade sharp ...
  • #82,691
  • Jul 16, 2014 11:54am Jul 16, 2014 11:54am
Quoting Hickson
{quote} True, true ... want to learn it all, impossible of course.
All my colleagues here, have a point to what they have said to you... but let me tell you also this if i may...

The reading of the chart is catholic even if it is about stocks, oil, forex, metals etc etc...

and most importantly the fundamentals, the news and all this stuff is depicted in your chart before even publish...

i know i know...this is a big conversation...with many different perspectives.

I have just added my own

Venceremos
The good thing with the future is that it is progressively approaching...
  • #82,692
  • Jul 16, 2014 12:49pm Jul 16, 2014 12:49pm
As a novice to trading, the last 6-7 posts have been the most helpful and education i have seen...
I'll be Brooklyn Til I Die
  • #82,693
  • Jul 16, 2014 1:04pm Jul 16, 2014 1:04pm
Quoting spinozagr
{quote} All my colleagues here, have a point to what they have said to you... but let me tell you also this if i may... The reading of the chart is catholic even if it is about stocks, oil, forex, metals etc etc... and most importantly the fundamentals, the news and all this stuff is depicted in your chart before even publish... i know i know...this is a big conversation...with many different perspectives. I have just added my own Venceremos
Yeah, I also think it is mostly priced in before the news. I understand news basically as an accelerator for these moves. However, if you trade your chart and look at the fundies then ... can be a bad idea - at least for me at this point
Fix up, trade sharp ...
  • #82,694
  • Jul 16, 2014 6:26pm Jul 16, 2014 6:26pm
Quoting Citiboy
{quote}There is no market conspiracy, market makers have nearly no advantage over us in the internet age. Thats why banks dont make money in the FX business anymore.
hilarious!!!
  • #82,695
  • Edited Jul 17, 2014 8:34am Jul 16, 2014 6:43pm | Edited Jul 17, 2014 8:34am
Quoting InnerSong
{quote} hilarious!!!
n
  • #82,696
  • Jul 16, 2014 8:21pm Jul 16, 2014 8:21pm
Why is AU going into a sell-off? The Business confidence number, not even a market impacting number according to FF is not even released yet.
Make your losses in demo. Earn your profits live.
  • #82,697
  • Jul 16, 2014 8:32pm Jul 16, 2014 8:32pm
Quoting Forexia
Why is AU going into a sell-off? The Business confidence number, not even a market impacting number according to FF is not even released yet. Is it leaked already?
Not sure. I am also keeping eye on Edey's speech though he is, of course, *not* Stevens. I am trying to get in on a long on AUD/JPY. Missed great opportunities for long this week at 94.90/95 levels. But it's been a bit of an eye-opener for me that 95.25/95.30 appears to be a kind of resistance. Pair seems to be stuck in the 00s and teens, popping into 20s. U/J frustratingly range bound moreover, just total refusing 102.
Enter Signature
  • #82,698
  • Jul 16, 2014 9:03pm Jul 16, 2014 9:03pm
A confirmed hrly break above .9370 should finally send this above .94 imo.
As the lights go by so too do the shadows move
  • #82,699
  • Jul 16, 2014 9:07pm Jul 16, 2014 9:07pm
Ken, i have a favor to ask. from the handful of news events that occur on a regular basis,
can u tell me which ones in your opinion, red news events, are most significant to usually produce movement in price?
like NFP,etc
  • #82,700
  • Jul 16, 2014 9:26pm Jul 16, 2014 9:26pm
Quoting nealpek
Ken, i have a favor to ask. from the handful of news events that occur on a regular basis, can u tell me which ones in your opinion, red news events, are most significant to usually produce movement in price? like NFP,etc
You might want to quote any of his post & ask him this question, He may maybe miss out otherwise, (Just suggesting)
A good trader follows his rules, but great trader knows when to break them
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