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GBP/AUD

  • #621
  • Dec 12, 2015 2:08pm Dec 12, 2015 2:08pm
When you in live conditions, you are going against a bank that can move prices, do you think they wont try to take you out? I know a lot will say what you trade is nothing in size vs a bank, but when you trade anything 10k plus and they can read the order books volume and have a large volume to one side, it is war. They will try to take you out and more than likely succeed.. A bank can pay a news station to fabricate anything they like. Hell they can pay a hydro company to shut off their power to cause financial chaos if they like! The bank could as far to start a war if they wanted(pay ISIS terrorists). Trading a demo will always be ghost because it is fake. Like online poker, You will always win and do well but when it comes to real the game is rigged, and badly. Same with FX live, banks have infinitely deep pockets and can move prices as much and as far as they like until you become solvent. The things they do are very sneaky and most wont think this but end of the day who else makes so much money.


That being said anything vs USD looks like it will go down, I think the most probable outcome is USD will continue to go up with maybe the exception being USDJPY as it is a risk based pair and US hikes rates this will make equities drop and therefore USJDPY drop. Anything USD is easy bet, look at the trend we have had. Just get the dip IMO.
All posts are my personal opinion
  • #622
  • Dec 12, 2015 2:49pm Dec 12, 2015 2:49pm
Lets not forget - Arguably the biggest event in the financial year takes place (Wednesday evening U.K.time) it will probably ultimately decide the fate of both theses currencies into year end - maybe a commodities rally we'll see - either way there will be fireworks - trade safely
  • #623
  • Dec 12, 2015 6:09pm Dec 12, 2015 6:09pm
Not 100%. I don't believe it because there's successful trader out there even though only 5%.
Quoting Rtm
When you in live conditions, you are going against a bank that can move prices, do you think they wont try to take you out? I know a lot will say what you trade is nothing in size vs a bank, but when you trade anything 10k plus and they can read the order books volume and have a large volume to one side, it is war. They will try to take you out and more than likely succeed.. A bank can pay a news station to fabricate anything they like. Hell they can pay a hydro company to shut off their power to cause financial chaos if they like! The bank could...
  • #624
  • Dec 12, 2015 6:43pm Dec 12, 2015 6:43pm
Quoting jampang
Not 100%. I don't believe it because there's successful trader out there even though only 5%.{quote}
im not saying it cant be done. im just saying demo is not always the same as live.
All posts are my personal opinion
  • #625
  • Dec 12, 2015 6:47pm Dec 12, 2015 6:47pm
Quoting Rtm
When you in live conditions, you are going against a bank that can move prices, do you think they wont try to take you out? I know a lot will say what you trade is nothing in size vs a bank, but when you trade anything 10k plus and they can read the order books volume and have a large volume to one side, it is war. They will try to take you out and more than likely succeed.. A bank can pay a news station to fabricate anything they like. Hell they can pay a hydro company to shut off their power to cause financial chaos if they like! The bank could...
He whoever they are including bank traders who try to act as a hero in the market without follow market rules is doom to fail in long run. Market has it own rules.US dollar value / fundamental has no effect on gbpaud except for minor swing at news announcement due to confuse trader as a result of swing in gbpusd and audusd.Gbpaud = gbp/usd / gbp/usd..... Usd is cross out....that is in accordance to mathamatical formula that exist hundreds yearsago and an absolute truth.Only fundamental on aud value and gbp value will effect gpbaudBut it will be a totally different game for gbpusd, euroud and usdjpy for ecample
  • #626
  • Dec 12, 2015 6:51pm Dec 12, 2015 6:51pm
Quoting tashkent
looks like audusd has developed pretty bearish short term setup. daily close below 7180 is just what bear need.{image} gbpusd has been having good times lately but 515x is still important level. still in a downtrend channel. i have neutral bias. yellow rectangle near term play area. green is short term (1-2 wks){image} GBPAUD is still in mid term downtrend channel {image}but weekly looks promising for bulls {image}
Great analysis friend.Based on your analysis there on audusd and gbpusd, without looking at gbpaud chart.......gbpaud will go up.
  • #627
  • Dec 12, 2015 7:07pm Dec 12, 2015 7:07pm
Quoting 3013
{quote} He whoever they are including bank traders who try to act as a hero in the market without follow market rules is doom to fail in long run. Market has it own rules.US dollar value / fundamental has no effect on gbpaud except for minor swing at news announcement due to confuse trader as a result of swing in gbpusd and audusd.Gbpaud = gbp/usd / gbp/usd..... Usd is cross out....that is in accordance to mathamatical formula that exist hundreds yearsago and an absolute truth.Only fundamental on aud value and gbp value will effect gpbaudBut it...
Should be gbpaud = gbp/ usd / aud/usd. Typing error
  • #628
  • Dec 12, 2015 10:11pm Dec 12, 2015 10:11pm
Quoting edyraper
{quote} so there are two situations here : 1. you are not green even on demo yet. so you are not trading in real . 2. you are good at demo but still trading in demo . ah , you might be failed on real thing ... or you are this : {image}
The reason why I stopped trading live was .
1. Trading small account and only making $20-50 per day . Spending my whole day earning this amount is not going to pay the mortgage and keep the wife happy.
2. The psychology of only earning $20 is having an effect on my risks. I tend to take huge risks to try to make too much money from a small account and end up loosing all the months profits in one day. Then having to start over from starting balance.
3. The psychology of trading with 30k plus demo is rewarding even though I dont get anything out of it Just seeing the profit is enough to satisfy me psychologically.
4. Go back to work and save for a large enough deposit without touching existing savings. ( have to keep the wife happy).

Im looking at starting live again jan- feb next year.

Havent been trading much this month because too busy working 7 days a week 10 hrs a day with great pain in my body.

Last months account http://www.myfxbook.com/members/Fore...KcKZUGoterGSsu
this months account http://www.myfxbook.com/members/Fore...bkMsyhwemr1l2R
20 Pips a day keeps centerlink away
  • #629
  • Dec 12, 2015 10:15pm Dec 12, 2015 10:15pm
Quoting MuscleTrader
have traded from 2000, loose money a lot on many pairs as everybody. the only way to survive in forex is money management. MM affects Psychology, if Your feel the pain in your gut and suddenly want to throw up when trading big lot size , it is the sign of psychology has been hammered and You probably will break all your own rule. Like EJ so much for 1 year. then in fond of GA for 2 Years. GA tends to go up easily then it tends to go down. i think this will be until next year. real and demo is just a different game. but if You can see the demo and...
If i loose in demo or live the feeling for me is the same. In demo if i make a wrong entry and waiting for price to come back through the night i cant sleep and stay up all night demo or real for me is no difference and must treat the same.
20 Pips a day keeps centerlink away
  • #630
  • Dec 12, 2015 10:17pm Dec 12, 2015 10:17pm
GBPAUD short looking to enter near market open or wait for FED
All posts are my personal opinion
  • #631
  • Dec 12, 2015 10:22pm Dec 12, 2015 10:22pm
Quoting PaulDaemon
{quote} The reason why I stopped trading live was . 1. Trading small account and only making $20-50 per day . Spending my whole day earning this amount is not going to pay the mortgage and keep the wife happy. 2. The psychology of only earning $20 is having an effect on my risks. I tend to take huge risks to try to make too much money from a small account and end up loosing all the months profits in one day. Then having to start over from starting balance. 3. The psychology of trading with 30k plus demo is rewarding even though I dont get anything...
You don't have to spend your whole day if trading on GA , GA is a wild animal , in a short time you will know you are winning or lossing hehehe.. just kidding.
I also don't trading for living... but 50$ a day in Indonesia is OK , consider profit 10 days only , makes $500 it sufficient to live in Indonesia.
But I also work so it makes the psychology much better because if i loose for today, i still can give food to my family hehehe
December and January is the worst time for technical person, You should consider give Yourself a holiday until the end of January.
Averaging works for me
  • #632
  • Dec 12, 2015 10:25pm Dec 12, 2015 10:25pm
Quoting Rtm
GBPAUD short looking to enter near market open or wait for FED
Great. Kindly update when the time come with sl, tp. Keen to to understand your strategy too.I will post my entry too when the time come and my entry criteria met.
  • #633
  • Dec 12, 2015 10:26pm Dec 12, 2015 10:26pm
Quoting Hickson
{quote} Yes, same here ... just pay is really not enough to save a reasonable amount.It's hard earning money without becoming a criminal in this world.
Its a hard world nothing is easy. Just set your goal and take necessary steps top achieve that goal . We are all born naked into this world some are lucky to be born into wealth some are not. Make the best with what you have been given. Successful people inspire me to keep going knowing if they can do it I can do it.

When I see another trader doing great it inspires me knowing it can be done and if they can do it I can do it .

For me I was born into working class family, I continue to do manual work today. My goal is not to become a millionaire from trading but to make an income so I can stop doing manual work.
20 Pips a day keeps centerlink away
  • #634
  • Dec 12, 2015 10:33pm Dec 12, 2015 10:33pm
Quoting MuscleTrader
{quote} You don't have to spend your whole day if trading on GA , GA is a wild animal , in a short time you will know you are winning or lossing hehehe.. just kidding. I also don't trading for living... but 50$ a day in Indonesia is OK , consider profit 10 days only , makes $500 it sufficient to live in Indonesia. But I also work so it makes the psychology much better because if i loose for today, i still can give food to my family hehehe December and January is the worst time for technical person, You should consider give Yourself a holiday...

Here in Aus to live comfortably need at least $300 (AUD) per day. This is enough for living cost only.

Im a forex junkie I love trading and love watching the charts haha.

Normally with GBP/AUD I can make enough in morning session but if have some news event I sit and watch. Also like to trade just after london open.
But yes I intend to wait until late jan to trade again.
20 Pips a day keeps centerlink away
  • #635
  • Dec 12, 2015 10:55pm Dec 12, 2015 10:55pm
Quoting PaulDaemon
{quote} The reason why I stopped trading live was . 1. Trading small account and only making $20-50 per day . Spending my whole day earning this amount is not going to pay the mortgage and keep the wife happy. 2. The psychology of only earning $20 is having an effect on my risks. I tend to take huge risks to try to make too much money from a small account and end up loosing all the months profits in one day. Then having to start over from starting balance. 3. The psychology of trading with 30k plus demo is rewarding even though I dont get anything...
glad you said you trade demo to keep yourself happy pyschologically when seeing the returns. but then again its not a guarantee your live account will start with a bang and you generate 85% returns. like one reader said trading live is a diff ball game. this pair has moved 200 pips in 2 hrs this thursday. even if you were to return live I would suggest don't leave your day job.
  • #636
  • Dec 12, 2015 11:26pm Dec 12, 2015 11:26pm
Quoting Rtm
GBPAUD short looking to enter near market open or wait for FED
Was this just a short term trade you were thinking about?

I just started looking around a bit and saw the situation on the w1 and m1 charts, and it seems to me that this pair has more in the looks of bullish movement to go before it starts to fall. Though, it could start out with a slight bearish move, I am seeing au ready to plummit and gu ready to continue higher. Not that much more, but enough to realize that I see more short term upward in this pair as well.

However... if your charts say short.... then pounce!

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDWeekly.png Size: 46 KB
"Keep your eyes on the helpers" - Mr. Rogers
  • #637
  • Dec 12, 2015 11:34pm Dec 12, 2015 11:34pm
Quoting giveachance
{quote} glad you said you trade demo to keep yourself happy pyschologically when seeing the returns. but then again its not a guarantee your live account will start with a bang and you generate 85% returns. like one reader said trading live is a diff ball game. this pair has moved 200 pips in 2 hrs this thursday. even if you were to return live I would suggest don't leave your day job.
If price goes against you must cut and wait for next time, and dont let your equity drop below 3% of your open balance. can have a big draw down only after made profit.

Im leaving hahaha nothing will change my mind. If I loose I will quit and become a monk haha.
20 Pips a day keeps centerlink away
  • #638
  • Dec 12, 2015 11:42pm Dec 12, 2015 11:42pm
Quoting giveachance
{quote} glad you said you trade demo to keep yourself happy pyschologically when seeing the returns. but then again its not a guarantee your live account will start with a bang and you generate 85% returns. like one reader said trading live is a diff ball game. this pair has moved 200 pips in 2 hrs this thursday. even if you were to return live I would suggest don't leave your day job.
I dont always get 85% can vary from 20% upwards.
20 Pips a day keeps centerlink away
  • #639
  • Dec 12, 2015 11:47pm Dec 12, 2015 11:47pm
Quoting PaulDaemon
{quote} Its a hard world nothing is easy. Just set your goal and take necessary steps top achieve that goal . We are all born naked into this world some are lucky to be born into wealth some are not. Make the best with what you have been given. Successful people inspire me to keep going knowing if they can do it I can do it. When I see another trader doing great it inspires me knowing it can be done and if they can do it I can do it . For me I was born into working class family, I continue to do manual work today. My goal is not to become a millionaire...
Those born in a working class family who are used to having to do everything themselves usually have the wrong mindset to be successful at something like for FOREX, though it is not their fault. I am serious blue collar working class, but won't get into that. 1, is that we don't have the time to put into it, because there is too much we have to do ourselves. 2. We feel we have to do everything ourselves to save money. 3. Perhaps our finances our not under control.

The first thing is to cut everything that you don't need to spend money on. Then say you are not going to do this and that anymore. Then say, these other things will get done when I can pay someone to do it for me. Now set your trading day.

Trading is a decision, and perhaps, all it is for some people is a hobby right at this moment, and that is fine. You will still learn a ton about trading treating it as a hobby. But, until you change your mindset about the things I listed above (maybe even others) and to finally move from the hobby stage to the serious about making smart money stage, we will remain in the working class.. wasting time on forex when we could have made money doing a side job and saved money doing our own fire wood.

Good Friends Trading
"Keep your eyes on the helpers" - Mr. Rogers
  • #640
  • Dec 13, 2015 12:02am Dec 13, 2015 12:02am
Quoting damonl
{quote} Those born in a working class family who are used to having to do everything themselves usually have the wrong mindset to be successful at something like for FOREX, though it is not their fault. I am serious blue collar working class, but won't get into that. 1, is that we don't have the time to put into it, because there is too much we have to do ourselves. 2. We feel we have to do everything ourselves to save money. 3. Perhaps our finances our not under control. The first thing is to cut everything that you don't need to spend money on....
For me im lucky my wife works and her income can sustain us so next year I will take the chance/risk to stop working and trade full time. One day we will die so better take a chance than to not try at all.

I know what you mean about the working class mindset, but just have to believe in yourself.
20 Pips a day keeps centerlink away
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