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AUD/USD

  • #93,201
  • Oct 27, 2015 8:27pm Oct 27, 2015 8:27pm
Quoting dab
{quote} I've had 28 completed trades for the month, 27 short and 1 long. Not all have been profitable but overall I've done well. I am the first to tell people I'm terrible at picking short & sometimes even medium term price direction but will back in my system and risk management. Unfortunately my only open trades are now two small longs (just above 72c 'support') but at the time I was still net short and was profiting on the way down as far as 7160, then neutral, then net long from 7130. More than one way to skin a cat!
losing is inseparable part of the trading. if one wants to make money, he must accept the losses. while everybody is concentrated on winning, i am focusing on losing and lately i have been reading a lot about the art of losing, because for me it is far important than winning. winners will always come as long as we are still in the game. we can remain in the game only buy learning how to lose, keeping the losses in control through risk management.
As Above, So Below
  • #93,202
  • Oct 27, 2015 8:33pm Oct 27, 2015 8:33pm
Quoting tashkent
{quote} losing is inseparable part of the trading. if one wants to make money, he must accept the losses. while everybody is concentrated on winning, i am focusing on losing and lately i have been reading a lot about the art of losing, because for me it is far important than winning. winners will always come as long as we are still in the game. we can remain in the game only buy learning how to lose, keeping the losses in control through risk management.
Agreed.
  • #93,203
  • Oct 27, 2015 8:40pm Oct 27, 2015 8:40pm
Quoting tashkent
{quote} losing is inseparable part of the trading. if one wants to make money, he must accept the losses. while everybody is concentrated on winning, i am focusing on losing and lately i have been reading a lot about the art of losing, because for me it is far important than winning. winners will always come as long as we are still in the game. we can remain in the game only buy learning how to lose, keeping the losses in control through risk management.
well said, we as traders tend to get attached to the trades and sometimes fail to realize that the opportunities will be here tomm.
  • #93,204
  • Oct 27, 2015 8:42pm Oct 27, 2015 8:42pm
Quoting Dimi.A
{quote} Myfxbook Live Trade Explorer (link inside profile)
Mods can rape you for this, you know?
Consider this, if you don't want to get banned or get commercial status.
  • #93,205
  • Oct 27, 2015 8:43pm Oct 27, 2015 8:43pm
Quoting tashkent
{quote} losing is inseparable part of the trading. if one wants to make money, he must accept the losses. while everybody is concentrated on winning, i am focusing on losing and lately i have been reading a lot about the art of losing, because for me it is far important than winning. winners will always come as long as we are still in the game. we can remain in the game only buy learning how to lose, keeping the losses in control through risk management.
I agree that one must be able to accept losses. I am uncertain about the art of losing being more important than winning (I'll take a winner over loser any day!). For me the focus is on net profit and good trading (accepting losses, having a plan, risk management, being able to follow your plan etc)
Hope for the best, prepare for the worst.
  • #93,206
  • Oct 27, 2015 8:53pm Oct 27, 2015 8:53pm
Quoting dab
{quote} For me the focus is on net profit and good trading (accepting losses, having a plan, risk management, being able to follow your plan etc)
what you are saying is the common focal point, joe and his granma also focuses on the profit, winning more trades and there is nothing wrong with it.
keep doing what you think works for you best
As Above, So Below
  • #93,207
  • Oct 27, 2015 8:59pm Oct 27, 2015 8:59pm
Quoting ninja87
{quote} well said, we as traders tend to get attached to the trades and sometimes fail to realize that the opportunities will be here tomm.
exactly. sticking to loser can wipe out the account easily. the other problem is one may need to wait a long time until price comes back to BE and missing lots of other good opportunities to make money. it is a lose-lose situation and not worth wasting money and time.
As Above, So Below
  • #93,208
  • Oct 27, 2015 9:01pm Oct 27, 2015 9:01pm
looks like we will have another ride down until london open
As Above, So Below
  • #93,209
  • Edited 9:38pm Oct 27, 2015 9:14pm | Edited 9:38pm
Quoting Jonh
{quote} Mods can rape you for this, you know? Consider this, if you don't want to get banned or get commercial status.
Incorrect. It's actually the same thing as having a standard Forex Factory trade explorer "attached" to your signature (which can be done in your profile). I had a Forex Factory trade explorer before I moved from MT4 to cTrader ECN STP. Plus I'm not offering signals. So I suggest you move along and pay attention to your AUDUSD chart instead of worrying about what my signature says

Anyway, back on topic.
Hope you gents have made some profit on that small retrace before it sunk lower. I'll be looking at going long again later.
  • #93,210
  • Oct 27, 2015 9:24pm Oct 27, 2015 9:24pm
Quoting tashkent
looks like we will have another ride down until london open
I am sure we will have enough for next few months. but the coming rba cut will be the last one and markets will price aud accordingly. there is not much scope to cut after next week's cut
  • #93,211
  • Oct 27, 2015 9:55pm Oct 27, 2015 9:55pm
The fiercely defended support line was crushed. Multiple support lines are gone now due to CPI.

What's next? Needless to say, it is obvious who is winning the battle. Faster than expected, i guess correction season is over, trend resumption is back

Happy Pipping!
  • #93,212
  • Oct 27, 2015 10:00pm Oct 27, 2015 10:00pm
Quoting samgrey
{quote} Good stuff. Where do you source this data? I think we've got 2 big points coming up... Inflation on 28 October - It might cause a big dip, and people might think that interest rate are going to be cut. This is because RBA has a target on underlying inflation (not normal, but the underlying inflation) staying within 2-3 percent range. It's unlikely given the upheaval in the Sep quarter. Yet, nowhere do I see any language from RBA or the governor (who I think is more of a hawk) being willing to cut rates. So, couple of big chances for someone...

Alternatively, if someone agrees with a view that inflation is going to be bad on 28 Oct, they can short it with a view to exiting post the inflation number release.
I am shit at trading. But, I did call it.
  • #93,213
  • Oct 27, 2015 10:04pm Oct 27, 2015 10:04pm
now, i think it's too close to call on nov interest rate cut.
  • #93,214
  • Oct 27, 2015 10:16pm Oct 27, 2015 10:16pm
actually I change my mind. The interest rate cut is locked in 60-40 for nov on first instinct.

The RBA is targeting inflation of 2-3 percent annually.

The underlying inflation means if dec quarter comes out even below average, the RBA will have to have 2 interest rate cuts in the first half of the year to ensure YOY inflation stays within band. The RBA is forward looking rather than backward looking - so it might hit the button.

The bank interest rate rises mean that the net passback to consumers in housing will be minimal. So, expect a rate cut.
  • #93,215
  • Oct 27, 2015 10:35pm Oct 27, 2015 10:35pm
now aud usd at support 0.71080 which is 61.8 previous retracement
Attached Image (click to enlarge)
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  • #93,216
  • Oct 27, 2015 11:44pm Oct 27, 2015 11:44pm
Dropping well below required retracement of 0.6182 x (iii), as expected, but would still need a complex (4) and a (5) for completing the bottoming process, before the rally.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH1 28Oct15.png Size: 49 KB

http://www.forexfactory.com/showthre...48#post8559948
Elliott Wave for optimum entry, exit and risk management of trades
  • #93,217
  • Oct 27, 2015 11:47pm Oct 27, 2015 11:47pm
My view
Attached Image (click to enlarge)
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  • #93,218
  • Oct 28, 2015 12:46am Oct 28, 2015 12:46am
Quoting tashkent
{quote} you will get your 71701 soon, be patient you have got more than you wanted, lol
do not stand out in the open with gun ;stand in the bushes with knife..
  • #93,219
  • Oct 28, 2015 1:26am Oct 28, 2015 1:26am
Quoting Expo33
Next stop 7115 area
It took two weeks but we made it. (and to the exact pip) BTW, if you see this TASHKENT, I think you should nominate me as an honorary guru
Pride always comes before destruction.... -Proverbs 16:18
  • #93,220
  • Oct 28, 2015 1:35am Oct 28, 2015 1:35am
Quoting Expo33
{quote} It took two weeks but we made it. (and to the exact pip) BTW, if you see this TASHKENT, I think you should nominate me as an honorary guru
Congrats if you traded what you posted at least +250 green pips by now
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