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  • #93,021
  • Oct 22, 2015 9:56pm Oct 22, 2015 9:56pm
Thanks for the advice SkyrEk.
I'm new at this so I guess I have a whole lot of learning to do yet. Just when I think it's starting to make sense BAM!!! Think again schmuck!
  • #93,022
  • Oct 22, 2015 9:58pm Oct 22, 2015 9:58pm
Quoting Wildthing507
Thanks for the advice SkyrEk. I'm new at this so I guess I have a whole lot of learning to do yet. Just when I think it's starting to make sense BAM!!! Think again schmuck!
No worries, everyone starts off as a newbie and needs to start from somewhere. When prices go against you, don't be discourage. The best learning tips and pointers are not from websites, experts or gurus. The best tutor is the mistakes that we all learn from our trading itself, take it as tuition fees payable to the market for teaching us a thing or two.

Cheers!
  • #93,023
  • Oct 22, 2015 10:03pm Oct 22, 2015 10:03pm
Quoting SkyrEk
As of now, i don't see any signs of the bulls backing down, i shall continue riding the trend. Try to trade with a neutral mindset, don't read too much of the 'experts' analysis, if they are experts, they won't be writing analysis reports, rather, they will be trading hard for a living. My 4hr chart, very bullish, there is a strong support around .7190 - .72 region, so i don't see why people will consider shorting this. I could only assume that traders whom are short have already ingrained into themselves that aussie is a short for sure, long term...
I have no issues going long but the fact is it will whipsaw both longs and shorts in this 0.72-0.73 range
  • #93,024
  • Oct 22, 2015 10:05pm Oct 22, 2015 10:05pm
Quoting SkyrEk
As of now, i don't see any signs of the bulls backing down, i shall continue riding the trend. Try to trade with a neutral mindset, don't read too much of the 'experts' analysis, if they are experts, they won't be writing analysis reports, rather, they will be trading hard for a living. My 4hr chart, very bullish, there is a strong support around .7190 - .72 region, so i don't see why people will consider shorting this. I could only assume that traders whom are short have already ingrained into themselves that aussie is a short for sure, long term...
Hi SkyrEk , and every one
First i would like to say thank you. about all of your comments. you make me stronger.
especially the word you say is " You should trade with minimum emotions","Don't marry to your trade"
now my trade system is better. minimum lose and good profits. Thank you.

p.s. my english is not good. hope you will understand.
"Nothing comes easy"
  • #93,025
  • Oct 22, 2015 10:09pm Oct 22, 2015 10:09pm
Quoting giveachance
{quote} I have no issues going long but the fact is it will whipsaw both longs and shorts in this 0.72-0.73 range
Gotta agree that its been a week of consolidation, but a range of .72- .73 as u have mentioned is 100pips. Pretty sure 100pips can reap quite a big profit depending on how much capital you are invested
  • #93,026
  • Oct 22, 2015 10:21pm Oct 22, 2015 10:21pm
Quoting synapsez
{quote} Hi SkyrEk , and every one First i would like to say thank you. about all of your comments. you make me stronger. especially the word you say is " You should trade with minimum emotions","Don't marry to your trade" now my trade system is better. minimum lose and good profits. Thank you. p.s. my english is not good. hope you will understand.
Cheers and welcome to this forum!

Just know that there are no experts in here, including myself. We all learn from one another, every single opinion, there will definitely be opposition because humans do not think the same way. That explains why markets get volatile = the difference in opinions by traders. Imagine the whole global market thinks the same way, everyone is a bull, the market will just bubble to the top.

Thus, ride on this uncertainty and you will become profitable in time to come.
  • #93,027
  • Oct 22, 2015 10:29pm Oct 22, 2015 10:29pm
Quoting SkyrEk
{quote} Cheers and welcome to this forum! Just know that there are no experts in here, including myself. We all learn from one another, every single opinion, there will definitely be opposition because humans do not think the same way. That explains why markets get volatile = the difference in opinions by traders. Imagine the whole global market thinks the same way, everyone is a bull, the market will just bubble to the top. Thus, ride on this uncertainty and you will become profitable in time to come.
i like your mindset. it make me an inspriration.
"Nothing comes easy"
  • #93,028
  • Oct 22, 2015 10:35pm Oct 22, 2015 10:35pm
Hey guys. I just don't get it. I'm short AUD since mid July of last year. How can somebody in his right mind go LONG against such a big trend. I'm not a scalper, so I might not understand this. But the long trend is DOWN, economic fundamentals are CRAP, so what's the idea? To gain 200 pips at most?
  • #93,029
  • Oct 22, 2015 10:40pm Oct 22, 2015 10:40pm
Quoting cold chisel
Hey guys. I just don't get it. I'm short AUD since mid July of last year. How can somebody in his right mind go LONG against such a big trend. I'm not a scalper, so I might not understand this. But the long trend is DOWN, economic fundamentals are CRAP, so what's the idea? To gain 200 pips at most?
You been short since July 2014, that's a longggg trade you are holding, can't imagine the holding cost you pay daily.
Yes, long term trend is down, intraday is up.

I won't sit on my shorts for this ride up. To gain 200 pips or even 1 pip, it is still better than not having any profits in return.

The question i will like to ask you is, since you been short since July 2014 where prices are in the .90 range, and now you are in profits, why are you not bagging it?

If i can earn approx $20k a day, well, of course i will stick to my trading plan and not sit on a single trade for more than a year.
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  • #93,030
  • Oct 22, 2015 10:47pm Oct 22, 2015 10:47pm
Quoting cold chisel
Hey guys. I just don't get it. I'm short AUD since mid July of last year. How can somebody in his right mind go LONG against such a big trend. I'm not a scalper, so I might not understand this. But the long trend is DOWN, economic fundamentals are CRAP, so what's the idea? To gain 200 pips at most?
just 50 pips at 1 lot = $500 @ 5 days a week = $2.5k per week
20 Pips a day keeps centerlink away
  • #93,031
  • Oct 22, 2015 10:48pm Oct 22, 2015 10:48pm
Quoting PaulDaemon
{quote} just 50 pips at 1 lot = $500 @ 5 days a week = $2.5k per week
Agree. Still better than one trade that last more than 365 days ++++
  • #93,032
  • Oct 22, 2015 11:02pm Oct 22, 2015 11:02pm
Quoting SkyrEk
{quote} You been short since July 2014, that's a longggg trade you are holding, can't imagine the holding cost you pay daily. Yes, long term trend is down, intraday is up. I won't sit on my shorts for this ride up. To gain 200 pips or even 1 pip, it is still better than not having any profits in return. The question i will like to ask you is, since you been short since July 2014 where prices are in the .90 range, and now you are in profits, why are you not bagging it? If i can earn approx $20k a day, well, of course i will stick to my trading plan...
I'm not bagging it, because it's not low enough.
  • #93,033
  • Oct 22, 2015 11:05pm Oct 22, 2015 11:05pm
Quoting cold chisel
Hey guys. I just don't get it. I'm short AUD since mid July of last year. How can somebody in his right mind go LONG against such a big trend. I'm not a scalper, so I might not understand this. But the long trend is DOWN, economic fundamentals are CRAP, so what's the idea? To gain 200 pips at most?
Take SkyrEk's example and flip it. If EVERYONE knows the Aussie is going DOWN and it seems so obvious right? Isn't that usually where the bottom begins? When the Aussie was trading below .70 there was not a bull in sight. I bought at .6930 and have been holding ever since (Almost two months now). In Forex there are no absolutes, only probabilities and I'm betting that the AUD had bottomed out already.

In Late September last month, after recovering from the .69's, Yellen said that the FED was "likely to raise rates in 2015". Instead of selling off, the Aussie was getting bought up and stayed put at .70. There was also a day around that time when the Dow sold off 200 points and Gold sold off quite a bit too (-$10 I believe). It was the perfect day for the Aussie to go back to .69 and possibly make a new low. Once again the Aussie got bought up and remained at .70. I increased my position on this day and have been pyramiding since.
  • #93,034
  • Oct 22, 2015 11:28pm Oct 22, 2015 11:28pm
Quoting PizzaGuy
{quote} Take SkyrEk's example and flip it. If EVERYONE knows the Aussie is going DOWN and it seems so obvious right? Isn't that usually where the bottom begins? When the Aussie was trading below .70 there was not a bull in sight. I bought at .6930 and have been holding ever since (Almost two months now). In Forex there are no absolutes, only probabilities and I'm betting that the AUD had bottomed out already. In Late September last month, after recovering from the .69's, Yellen said that the FED was "likely to raise rates in 2015". Instead of selling...
Nice to see a fellow trader profiting and not listening to the experts on news media talking about .68 in 12months and all that nonsense. (I'm not saying it won't happen, but that will be a longggg time)


Just want to emphasize that i'm just your average trader, not an expert nor guru. Just trading and keeping things simple. I change direction in my trades with a click of my mouse. That simple. No holy grails or whatsoever.

I appreciate some of you pm me with your questions, if it is within my ability, i can answer them. Otherwise, i'm really not a professional trader.

Cheers to all and have a great weekend!
  • #93,035
  • Oct 22, 2015 11:33pm Oct 22, 2015 11:33pm
Good day everyone.

From my chart and personal analysis,

0.7350 be the next resistant area, breaking above should be causing the spike up to 0.7600 zone. ( just my personal opinion )

Buying range for me at the moment will be 0.7180 - 0.7280 ( where buyer would load in position )

and 0.7300 should be the zone where long term seller set their stop lost, and create a 50 pips zone of supply and demand area
at 0.7300 - 0.7350.

Lets see if the above plan play out well.
  • #93,036
  • Oct 22, 2015 11:37pm Oct 22, 2015 11:37pm
Quoting PizzaGuy
{quote} Take SkyrEk's example and flip it. If EVERYONE knows the Aussie is going DOWN and it seems so obvious right? Isn't that usually where the bottom begins? When the Aussie was trading below .70 there was not a bull in sight. I bought at .6930 and have been holding ever since (Almost two months now). In Forex there are no absolutes, only probabilities and I'm betting that the AUD had bottomed out already. In Late September last month, after recovering from the .69's, Yellen said that the FED was "likely to raise rates in 2015". Instead of selling...
Don't look at Fed or Dow. China is the main story for AUD. And China is just starting to go down.
Though you are doing the right thing, but to early in my opinion.
  • #93,037
  • Oct 22, 2015 11:46pm Oct 22, 2015 11:46pm
Quoting actorial
Good day everyone. From my chart and personal analysis, 0.7350 be the next resistant area, breaking above should be causing the spike up to 0.7600 zone. ( just my personal opinion ) Buying range for me at the moment will be 0.7180 - 0.7280 ( where buyer would load in position ) and 0.7300 should be the zone where long term seller set their stop lost, and create a 50 pips zone of supply and demand area at 0.7300 - 0.7350. Lets see if the above plan play out well.
Agree, I think .728 is the current hurdle that has to be overcome, before any further rise, but bulls seems to be on their way, at least for now.
  • #93,038
  • Oct 22, 2015 11:51pm Oct 22, 2015 11:51pm
Quoting SkyrEk
{quote} Nice to see a fellow trader profiting and not listening to the experts on news media talking about .68 in 12months and all that nonsense. (I'm not saying it won't happen, but that will be a longggg time) Just want to emphasize that i'm just your average trader, not an expert nor guru. Just trading and keeping things simple. I change direction in my trades with a click of my mouse. That simple. No holy grails or whatsoever. I appreciate some of you pm me with your questions, if it is within my ability, i can answer them. Otherwise, i'm really...
There will be no finger-pointing here if things go bad.

I'm planning on holding this trade for years if the market will allow me to. There is really only five reasons why I would exit/close my current position:

1. (The most likely) I get stopped out in the .69's. As I stated earlier, I'm hoping .70 will hold.

2. FXCM, my trading broker, goes bankrupt. If forex trading wasn't hard enough, I now also have to watch to make sure FXCM stays solvent. Recently FXCM did a 1:10 Reverse stock split; however, the stock price has increased since then.

3. The rollover turns negative. If this was the case I would most likely be stopped out already. If for some strange reason the Aussie was still trading in the .70's at this point, I would have to close out. High rollover (a lot lower now) is the reason why I first got into trading the Aussie.

4. Gold goes under $1,000.

5. Continuous nagging from my wife. "We need the money to buy a house!" or "Our baby needs more diapers", etc.
  • #93,039
  • Oct 23, 2015 1:18am Oct 23, 2015 1:18am
we are nearing to 0.7280. Lets see how this pair gonna work out.

FF open seem to favor commodities and also causes Aussie to raise abit.

We have to see if London follow suit or they will try to create their own trend.

Im positive the NY session will bias on the bull side today as ( most of the time ) NY will always follow the last short term trend when closing off friday trade.

Green pips to all!!
  • #93,040
  • Oct 23, 2015 1:37am Oct 23, 2015 1:37am
congratz to all LONGs position for your patience. a nice level for a swing trade

happy a nice weekend....
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