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AUD/USD

  • #90,781
  • Jun 17, 2015 3:11am Jun 17, 2015 3:11am
Quoting Miss05
{quote} Sky, interesting methode to trailing.. may i know how and what is your method on trailing these specific AUDUSD? are you setting 10 pips back from the current price until that 'neutral area'? i never implemented trail stop before, usually i just close it with green pips or red pups when i think it's technically enough.

Hi Miss05,

When i trail my stop loss orders, it is usually 10-15 pips (depending on the market's volatility) Now that price is below .77 as i'm writing this entry, my current trailed stop loss is around .7715. If price does go up to .7715, at least i have about 35 green pips. Trailing stop losses is not a good method to use for highly volatile pairs or market conditions such as the upcoming FOMC.

Trailing stop loss is just a method to close out your trades with the maximum amount of pips you can collect with profits instead of losses.
  • #90,782
  • Jun 17, 2015 3:19am Jun 17, 2015 3:19am
Quoting SkyrEk
{quote} Hi Miss05, When i trail my stop loss orders, it is usually 10-15 pips (depending on the market's volatility) Now that price is below .77 as i'm writing this entry, my current trailed stop loss is around .7715. If price does go up to .7715, at least i have about 35 green pips. Trailing stop losses is not a good method to use for highly volatile pairs or market conditions such as the upcoming FOMC. Trailing stop loss is just a method to close out your trades with the maximum amount of pips you can collect with profits instead of losses.
Sky,
I see. Great way to maintain profit and let it run. in that case, you should really discipline to do it.. you know sometime your emotions will put you back. I think trader that consistently using trailing stop profit is a great trader who's discipline with his/her system.

I need to learn that too ^^V

Thanks Sky
I've failed many times, but I took the lessons,and never give up.God Bless.
  • #90,783
  • Jun 17, 2015 3:25am Jun 17, 2015 3:25am
Quoting Miss05
{quote} Sky, I see. Great way to maintain profit and let it run. in that case, you should really discipline to do it.. you know sometime your emotions will put you back. I think trader that consistently using trailing stop profit is a great trader who's discipline with his/her system. I need to learn that too ^^V Thanks Sky
Thank you for your kind words, Miss05.

However, don't flatter me, i believe every trader has got their own way to manage their trades. I have my down days as well. Being human, emotions will come into play, hence, we can make use of our trading platform (computers/ systems do not have emotions) to implement strict guidelines so that should the trade go against us, the system will still carry out to stop out losses no matter what.

I believe we can learn alot from this trading forum as there are many diverse perspectives and opinions from fellow traders. For some, we may not agree with because they tend to force it down our throat thinking that their method is the holy grail, but its good entertainment still.

  • #90,784
  • Jun 17, 2015 4:35am Jun 17, 2015 4:35am
Quoting SkyrEk
{quote} the system will still carry out to stop out losses no matter what.
Curious as to whether you plan to close before FOMC or leave open?
Also curious as to whether you have a guaranteed stop loss? My platform doesn't allow me to use guaranteed stops in combination with trailing stops so if you don't have guaranteed stop just be aware that with event like FOMC price could gap your stop and leave slippage.
Hope for the best, prepare for the worst.
  • #90,785
  • Jun 17, 2015 4:47am Jun 17, 2015 4:47am
Quoting dab
{quote} Curious as to whether you plan to close before FOMC or leave open? Also curious as to whether you have a guaranteed stop loss? My platform doesn't allow me to use guaranteed stops in combination with trailing stops so if you don't have guaranteed stop just be aware that with event like FOMC price could gap your stop and leave slippage.
Hi dab,Yes, definitely be out before fomc. Will exit anytime now and call it a day. For guaranteed stop loss, my broker requires me to pay a fee for it, hence i do not use it. Events like FOMC, i will trade and monitor live. Hence, no stop loss orders will be used.
  • #90,786
  • Jun 17, 2015 5:00am Jun 17, 2015 5:00am
Hopefully as audusd goes DOWN somebody will learn a lesson about humility.
  • #90,787
  • Jun 17, 2015 5:31am Jun 17, 2015 5:31am
Quoting SkyrEk
{quote} Hi dab,Yes, definitely be out before fomc. Will exit anytime now and call it a day. For guaranteed stop loss, my broker requires me to pay a fee for it, hence i do not use it. Events like FOMC, i will trade and monitor live. Hence, no stop loss orders will be used.
Mine has fee but it's only about 2 or 3 pips from memory so can be useful at times.
Hope for the best, prepare for the worst.
  • #90,788
  • Jun 17, 2015 5:56am Jun 17, 2015 5:56am
Hopefully price will drop to 0.7650 so that I buy , if it drops to 0.7610 will add more and run it through FOMC.
  • #90,789
  • Jun 17, 2015 6:36am Jun 17, 2015 6:36am
Quoting tunera
Hopefully as audusd goes DOWN somebody will learn a lesson about humility.
I hear yah buddy, got to trade what you see, and I see a beautiful chart today, only missing the 1 way arrows

Attached Image (click to enlarge)
Click to Enlarge Name: 17-06-2015 9-34-41 PM.png Size: 74 KB
It takes a lot for me to IGNORE you, but you can try.
  • #90,790
  • Jun 17, 2015 6:43am Jun 17, 2015 6:43am
we are still in a range guys, since the 1st of the month. The pair has already moved about as much as it tends to move in an average day. Don't expect 500pip moves. They do happen, but they are too rare to bet on them. We are now approaching the bottom 1/3rd of the range
  • #90,791
  • Jun 17, 2015 9:50am Jun 17, 2015 9:50am
Trade taken from this morning after London open. Sitting on hands this afternoon with Greece and awaiting FOMC statement... Best time to trade is not to trade
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM30 17.06.15.png Size: 56 KB
  • #90,792
  • Jun 17, 2015 9:50am Jun 17, 2015 9:50am
Quoting ItsAtrap
Luckily I was awake to see an opportunity to reenter short. Trade review on attached chart. Still have 1/2 of the position on, with SL at break-even now (the lows of the hourly candle of 11pm GMT), Just a small profit. I wonder if the trade will live through today's vol. {image}

A review of this trade on the hourly charts posted earlier.


Closed 1/2 of this trade at 2nd take-profit which got hit. Now left 1/2 of my position with SL at B/E

Who said that all price action takes place AFTER the FOMC?
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD 1h review 17Jun15.gif Size: 44 KB
  • #90,793
  • Jun 17, 2015 12:15pm Jun 17, 2015 12:15pm
I took another 1/3rd profit here. Just because of FOMC.
  • #90,794
  • Jun 17, 2015 1:14pm Jun 17, 2015 1:14pm
Well done to you guys who made profits short today, too risky for me but well done.
  • #90,795
  • Jun 17, 2015 1:58pm Jun 17, 2015 1:58pm
SL hit at Break-Even. Price is almost at the day's open
  • #90,796
  • Edited 4:46pm Jun 17, 2015 1:59pm | Edited 4:46pm
Obahma stating last week that the dollar was too strong was the key to what would happen tonight. Add in to this all the completed chart formations, particularly this pair and it was almost a gift box full of money. I didn't have the balls to go short today even though there was a few pips to be made here or there and again well done to those that made short money. This result could now well change the landscape for both this pair and the dollar yen which coincidently is on the neckline of a reverse head and shoulders on the monthly and could very well go down considerably.

Good luck, to ALL
  • #90,797
  • Jun 17, 2015 10:11pm Jun 17, 2015 10:11pm
Quoting mrfigure
Obahma stating last week that the dollar was too strong was the key to what would happen tonight. Add in to this all the completed chart formations, particularly this pair and it was almost a gift box full of money. I didn't have the balls to go short today even though there was a few pips to be made here or there and again well done to those that made short money. This result could now well change the landscape for both this pair and the dollar yen which coincidently is on the neckline of a reverse head and shoulders on the monthly and could very...
Hi Mrfigure,

Obama clarified that he did NOT said that the dollar was too strong, it was a miscommunication by a french official.

(http://www.reuters.com/article/2015/...0OO0NG20150608)

I see this dollar pullback as an opportunity to buy in more.
This is my humble stance, with two more rate hikes to look forward to, I look forward to a stronger dollar. Yellen being a natural dove, for her to be confident about rate hikes carries alot of weightage. Look longterm and we will see dollar strengthening, data dependent yes, recent data has been proving the FED right.
  • #90,798
  • Jun 18, 2015 3:28am Jun 18, 2015 3:28am
Quoting SkyrEk
{quote} Hi Mrfigure, Obama clarified that he did NOT said that the dollar was too strong, it was a miscommunication by a french official. (http://www.reuters.com/article/2015/...0OO0NG20150608) I see this dollar pullback as an opportunity to buy in more. This is my humble stance, with two more rate hikes to look forward to, I look forward to a stronger dollar. Yellen being a natural dove, for her to be confident about rate hikes carries alot of weightage. Look longterm and we will see dollar strengthening,...
Hi skyrek, I'm aware of that report, but like many news releases that are often questionable it is irrelevant whether it was actually said or not as the fact is, the comment, said or not is out in the public domain and traders will act accordingly. Whether he said it or not, traders will look at it and say, well even if he didn't say it, he's right !

On a side note i hope you didn't buy the dollar, personally i would wait until 12,180. good luck
  • #90,799
  • Jun 18, 2015 3:32am Jun 18, 2015 3:32am
AudUsd right Now
Sell .7792
sl=30pips
tp=..
  • #90,800
  • Jun 18, 2015 3:33am Jun 18, 2015 3:33am
Quoting mrfigure
{quote} Hi skyrek, I'm aware of that report, but like many news releases that are often questionable it is irrelevant whether it was actually said or not as the fact is, the comment, said or not is out in the public domain and traders will act accordingly. Whether he said it or not, traders will look at it and say, well even if he didn't say it, he's right ! On a side note i hope you didn't buy the dollar, personally i would wait until 12,180. good luck
Hi Mrfigure,

Oic, agree with your point.

Nope, didn't buy the dollar yet. With FED and ECB, alot of noise is being produced now. Shall trade when the markets calm down.

Gd luck all!
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