AUD/USD | Page 4336 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

AUD/USD

Similar Threads

EUR/GBP, EUR/USD, GBP/USD, AUD/USD, CAD, NZD, JPY, and more... 15 replies

EUR/USD, AUD/USD, and CAD/USD ready to move up 2 replies

Anyone here trading AUD/USD or USD/AUD tonight regarding AUS Home Loan Report? 1 reply

The AUD/USD 1.00 EUR/AUD 1.60 GBP/AUD 2.00 Thread! 0 replies

AUD Trade Balance and AUD Retail sales 6 replies

Attachments: AUD/USD
Exit Attachments

AUD/USD

  • #86,701
  • Nov 5, 2014 2:39pm Nov 5, 2014 2:39pm
Quoting tashkent
{quote} Trade consists of three parts: 1) entry 2) trade management 3) exit parts one and three takes less than a second to complete. click of a mouse button. click, your in and click, you are out. the main, the most important part however is the second. let's say, now you are in and have an open position on your screen. what would you do? wait until it hits the profit or sl, right? or enter, walk away, and come back to see if you hit tp or sl. This is ABSOLUTELY WRONG attitude. over 90% of the traders are too concerned about the 1st part (entry),...
I feel like I'm in school right now and it's my favorite class. Keep going please
  • #86,702
  • Nov 5, 2014 2:40pm Nov 5, 2014 2:40pm
Quoting tashkent
{quote} Trade consists of three parts: 1) entry 2) trade management 3) exit parts one and three takes less than a second to complete. click of a mouse button. click, your in and click, you are out. the main, the most important part however is the second. let's say, now you are in and have an open position on your screen. what would you do? wait until it hits the profit or sl, right? or enter, walk away, and come back to see if you hit tp or sl. This is ABSOLUTELY WRONG attitude. over 90% of the traders are too concerned about the 1st part (entry),...
read your thread posts a bit and I think I got an idea... martingale dangerous, so you do some form of hedging. and when you hit TP u offset against a portion of your earlier (bad) entries. I am trying to apply it too but so scary and so hard...
  • #86,703
  • Nov 5, 2014 2:43pm Nov 5, 2014 2:43pm
Quoting thelostpip
{image} It seems to me that price rejected the downward trendline on the 4H chart with the last candle and is now making an indecision candle at the daily (red line) and Monthly (purple line) If it closes above these lines, then I will be bullish. Until then Im bearish.
Good analysis. I was so focused on the range boundaries, but sooner or later, ranges are broken....
  • #86,704
  • Nov 5, 2014 2:46pm Nov 5, 2014 2:46pm
Quoting MaryAnne
{quote} crap... you are so right. sounds easy yet hard to put in practice my god. so instead of focusing on cycles... we should be focusing on that? Thanks again for kind advice *hugs*
I think the most important thing is to find your trading style. Either you're a day trader where you get in and out the market and make quick pips, or swing trader to hold a position with a bias to follow the trend and make several hundreds pip. Then just develop the strategy work best for you. I find that day trader just put lots of stress and could be very discouraging as market could be very cruel!

Hope we all could make green pips!
  • #86,705
  • Nov 5, 2014 2:51pm Nov 5, 2014 2:51pm
Quoting MaryAnne
{quote} read your thread posts a bit and I think I got an idea... martingale dangerous, so you do some form of hedging. and when you hit TP u offset against a portion of your earlier (bad) entries. I am trying to apply it too but so scary and so hard...

Ask, and it shall be given you; seek, and ye shall find
As Above, So Below
  • #86,706
  • Nov 5, 2014 2:52pm Nov 5, 2014 2:52pm
Quoting Lamira
{quote} I feel like I'm in school right now and it's my favorite class. Keep going please
got some bad trades to manage right now, but i shall be around
As Above, So Below
  • #86,707
  • Nov 5, 2014 2:52pm Nov 5, 2014 2:52pm
Quoting phongvu12
{quote} I think the most important thing is to find your trading style. Either you're a day trader where you get in and out the market and make quick pips, or swing trader to hold a position with a bias to follow the trend and make several hundreds pip. Then just develop the strategy work best for you. I find that day trader just put lots of stress and could be very discouraging as market could be very cruel! Hope we all could make green pips!
excellent point
As Above, So Below
  • #86,708
  • Nov 5, 2014 3:09pm Nov 5, 2014 3:09pm
Quoting phongvu12
{quote} I think the most important thing is to find your trading style. Either you're a day trader where you get in and out the market and make quick pips, or swing trader to hold a position with a bias to follow the trend and make several hundreds pip. Then just develop the strategy work best for you. I find that day trader just put lots of stress and could be very discouraging as market could be very cruel! Hope we all could make green pips!
I am still trying to figure out my style... day or swing or longer term lol. you are right... identity crisis here that needs to be sorted

Quoting tashkent
{quote} Ask, and it shall be given you; seek, and ye shall find
Many thanks, Sensei. Lamira, let's study shall we??? I need to get some rest first though cya all later and once again thank you people for the guidance. Very appreciate it
  • #86,709
  • Nov 5, 2014 3:14pm Nov 5, 2014 3:14pm
[quote=MaryAnne;7849628]{quote} I am still trying to figure out my style... day or swing or longer term lol. you are right... identity crisis here that needs to be sorted {quote} Many thanks, Sensei. Lamira, let's study shall we??? I need to get some rest first though cya all later and once again thank you people for the guidance. Very appreciate it
haha, I'm in always up for study
  • #86,710
  • Nov 5, 2014 3:25pm Nov 5, 2014 3:25pm
[quote=Lamira;7849637]
Quoting MaryAnne
{quote} I am still trying to figure out my style... day or swing or longer term lol. you are right... identity crisis here that needs to be sorted {quote} Many thanks, Sensei. Lamira, let's study shall we??? I need to get some rest first though cya all later and once again thank you people for the guidance. Very appreciate it haha, I'm in always up for study
What helped me was doing both as the same time. Choose 1 pair that you have the most bias that it would go much lower or higher, then trade it and let it ride. Once you're in the money, use it as a leverage to make intraday trade from another pair to make quick profit. My lesson after a few years of trading is never fight the trend until it's actually broken, and really take a look at a big picture!
  • #86,711
  • Nov 5, 2014 4:15pm Nov 5, 2014 4:15pm
[quote=phongvu12;7849655]
Quoting Lamira
{quote} What helped me was doing both as the same time. Choose 1 pair that you have the most bias that it would go much lower or higher, then trade it and let it ride. Once you're in the money, use it as a leverage to make intraday trade from another pair to make quick profit. My lesson after a few years of trading is never fight the trend until it's actually broken, and really take a look at a big picture!
I'm looking forward to start trading 6 pairs at the time. Right now due of regular job, I have not much chances to monitor all of em true my phone. My goal for now keep focused on one/two similar pairs at time and learn specialises of their moves. Each pair have their own attitude of style. But correlation is always needed in my analysis.
  • #86,712
  • Nov 5, 2014 4:17pm Nov 5, 2014 4:17pm
Something wrong with this thread
  • #86,713
  • Nov 5, 2014 5:11pm Nov 5, 2014 5:11pm
AUD .8575

Finally some common sense has prevailed and the Aussie is starting to decline .

So can we say goodbye to the 90's for awhile ?
Its starting to look that way and we will be soon welcoming in the 70's.

My first target is .8340 and then .7930

Fundamentally speaking;
US dollar bullish trend is real.
How many times does the BOJ tell you to sell yen yet I see people trying to pick tops? Follow the trend .. yen is weakening
GOLD - its a mud guard - shiny on top and crap underneath - just sell it
Which brings me to EUR/CHF and the SNB. - Lets see how good they are at defending 1.2000
I might buy some Swiss Chocolate and watch the performance.
  • #86,714
  • Nov 5, 2014 5:17pm Nov 5, 2014 5:17pm
Quoting lasty
AUD .8575 Finally some common sense has prevailed and the Aussie is starting to decline . So can we say goodbye to the 90's for awhile ? Its starting to look that way and we will be soon welcoming in the 70's. My first target is .8340 and then .7930 Fundamentally speaking; US dollar bullish trend is real. How many times does the BOJ tell you to sell yen yet I see people trying to pick tops? Follow the trend .. yen is weakening GOLD - its a mud guard - shiny on top and crap underneath - just sell it Which brings me to EUR/CHF and the SNB. - Lets...
common sense.

-Let fundamentals be your guide and technicals be your trigger.

Im with you on the EURCHF part. Seems like a no brainer. ALTHOUGH, you will need the most patience here, more than anything else, ever. Look at the past and see how long EURCHF held that floor before it finally popped to upside!

AUDUSD too easy now just short the rally.
All posts are my personal opinion
  • #86,715
  • Nov 5, 2014 5:23pm Nov 5, 2014 5:23pm
This might be completely out of left field:

1- Want to figure out what type of trader you are?

Download all those account statements, sift through the trades and put them in a +ve/-ve column with date and time.
Now get the charts out and plot the +ve and -ve trades.

Either you will find you do great during consolidation/range bound markets or trending markets.

2- Start a Journal, not digital but actual pen and paper. If you had been doing this step 1 would be so much easier. Now, if you a trend trader, enter any pair which is trending, but before you enter put the entry in the journal give your reasons for why you want to enter(RR, Trend, etc etc). If you don't have 3-4 good reasons and the RR is against you i.e. your TP<SL(Defining the ratio here is impossible and is based on individual trading practice/style/risk apetite), dont enter. You will be surprised by the sheer number of entries you will reject in those 30-60 seconds it will take to jot everything down.

So many more things that can be done to improve/recognise how one should be trading.

Oh and most of all make an investment and buy a good book on Money management and make up your rules for MM, they help not only in Forex but life.

Got all this in a webinar somewhere, put in practice it does work for me. Think it was on youtube.

--------------------------------------------------------------------------------------
Edit:

Read a few of the posts about how and what to do and learn. So i thought I would give the pointers which have and are helping me.
  • #86,716
  • Nov 5, 2014 5:23pm Nov 5, 2014 5:23pm
.8640 broken, if data released today is not good, .83xx will be hit before any serious bounce.
  • #86,717
  • Nov 5, 2014 5:25pm Nov 5, 2014 5:25pm
Quoting neo1599
This might be completely out of left field: 1- Want to figure out what type of trader you are? Download all those account statements, sift through the trades and put them in a +ve/-ve column with date and time. Now get the charts out and plot the +ve and -ve trades. Either you will find you do great during consolidation/range bound markets or trending markets. 2- Start a Journal, not digital but actual pen and paper. If you had been doing this step 1 would be so much easier. Now, if you a trend trader, enter any pair which is trending, but before...
  • #86,718
  • Nov 5, 2014 5:26pm Nov 5, 2014 5:26pm
Quoting Rtm
{quote} common sense. -Let fundamentals be your guide and technicals be your trigger. Im with you on the EURCHF part. Seems like a no brainer. ALTHOUGH, you will need the most patience here, more than anything else, ever. Look at the past and see how long EURCHF held that floor before it finally popped to upside! AUDUSD too easy now just short the rally.
Let fundamentals be your guide and technicals be your trigger
  • #86,719
  • Nov 5, 2014 5:28pm Nov 5, 2014 5:28pm
down baby, down!!!.....
  • #86,720
  • Nov 5, 2014 5:46pm Nov 5, 2014 5:46pm
Quoting poseikwame
down baby, down!!!.....
Don't hold your breath just yet.
There's always money in the banana stand.
27 traders viewing now