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GBP/AUD

  • #721
  • Dec 15, 2015 2:09pm Dec 15, 2015 2:09pm
looking for 660's on this move down...looks to be long abc correction....see if c can mk 100% of a
I'm not a "Businessman" I'm a "Business-man"!! Jay-Z
  • #722
  • Dec 16, 2015 1:03am Dec 16, 2015 1:03am
Phone trading at smoko.
Got 1st entry wrong.
The spreads are ridiculous 1st thing in the morning
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20 Pips a day keeps centerlink away
  • #723
  • Dec 16, 2015 1:04am Dec 16, 2015 1:04am
Buy 0900 tp 1050 sl 0840
  • #724
  • Dec 16, 2015 1:32am Dec 16, 2015 1:32am
Must be careful now look like Aussie want to go up and pound news at 8pm.
20 Pips a day keeps centerlink away
  • #725
  • Dec 16, 2015 1:47am Dec 16, 2015 1:47am
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20 Pips a day keeps centerlink away
  • #726
  • Dec 16, 2015 2:17am Dec 16, 2015 2:17am
good morning dameon..how goes it??
I'm not a "Businessman" I'm a "Business-man"!! Jay-Z
  • #727
  • Dec 16, 2015 2:37am Dec 16, 2015 2:37am
Quoting gomab11
good morning dameon..how goes it??
Hey Im good but tired. Was so hot here today, had to work in the heat
Its 7 pm here so waiting for pound news maybe time for dinner haha.
20 Pips a day keeps centerlink away
  • #728
  • Dec 16, 2015 2:53am Dec 16, 2015 2:53am
Quoting PaulDaemon
{quote} Hey Im good but tired. Was so hot here today, had to work in the heat Its 7 pm here so waiting for pound news maybe time for dinner haha.
Hy ...i'm trying to trade GBP/AUD but it's really difficult.... please could you help me to understand your way to enter in this pair...
Looking at your phone chart... you don't use any special indi or else.. so please help me to find the right way to take some good orders here...
Thanks
Regards
  • #729
  • Dec 16, 2015 3:08am Dec 16, 2015 3:08am
Quoting PaulDaemon
{quote} Hey Im good but tired. Was so hot here today, had to work in the heat Its 7 pm here so waiting for pound news maybe time for dinner haha.
Hot...oh this is summer for you guys down there..o no? yes i see g/a is hesitant..waiting for info from news to pick a direction...could go either way..waiting
I'm not a "Businessman" I'm a "Business-man"!! Jay-Z
  • #730
  • Dec 16, 2015 3:36am Dec 16, 2015 3:36am
ok back short 0874's
I'm not a "Businessman" I'm a "Business-man"!! Jay-Z
  • #731
  • Dec 16, 2015 3:37am Dec 16, 2015 3:37am
Quoting cescof
{quote} Hy ...i'm trying to trade GBP/AUD but it's really difficult.... please could you help me to understand your way to enter in this pair... Looking at your phone chart... you don't use any special indi or else.. so please help me to find the right way to take some good orders here... Thanks Regards
Do not trade it, it will kill you. Start with something less volatile and do not trade today and probably not before mid of January.
Fix up, trade sharp ...
  • #732
  • Dec 16, 2015 4:24am Dec 16, 2015 4:24am
Quoting cescof
{quote} Hy ...i'm trying to trade GBP/AUD but it's really difficult.... please could you help me to understand your way to enter in this pair... Looking at your phone chart... you don't use any special indi or else.. so please help me to find the right way to take some good orders here... Thanks Regards
This pair is the most volatile pair. I have watched this pair for the past nine months sometimes 16 hrs a day. This is what it takes to become familiar with how this pair moves.

Most of the time my trade entry on GA is buy watching the aud/usd and gnp/usd. GA will move accordingly to what the other 2 pairs are doing. So never trade just off gbp/aud you must be look at aud/usd and gbp/usd. Must also check the strength of the usd by comparing it to eur/usd and chf/usd. This will give you the indication on how strong the pound is to the usd. Sometimes the usd will loose strength but pound is neutral.

GA is ranging between minor sup/res atm. I think mostly Pound news was already priced in so had no much effect on GA except a bit a volatility so if any one traded had in get in and out as quick as possible because no one know where it will go.

This pair on Sydney open moves very slow but can still range up to 50 pips. From the peak of yesterday it dropped 150 pips so more than likely it will pull back on Sydney open. This is why I traded it.

I think most likely now it will fall but for me right now I stay out and watch.
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20 Pips a day keeps centerlink away
  • #733
  • Dec 16, 2015 4:25am Dec 16, 2015 4:25am
Quoting gomab11
{quote} Hot...oh this is summer for you guys down there..o no? yes i see g/a is hesitant..waiting for info from news to pick a direction...could go either way..waiting
Looks like was already priced in.

Adelaide is very hot and dry in summer http://www.weatherzone.com.au/sa/adelaide/adelaide
20 Pips a day keeps centerlink away
  • #734
  • Dec 16, 2015 4:46am Dec 16, 2015 4:46am
Quoting PaulDaemon
{quote} This pair is the most volatile pair. I have watched this pair for the past nine months sometimes 16 hrs a day. This is what it takes to become familiar with how this pair moves. Most of the time my trade entry on GA is buy watching the aud/usd and gnp/usd. GA will move accordingly to what the other 2 pairs are doing. So never trade just off gbp/aud you must be look at aud/usd and gbp/usd. Must also check the strength of the usd by comparing it to eur/usd and chf/usd. This will give you the indication on how strong the pound is to the usd....


Also with this pair must watch your lot size because it can kill your account in minutes. On 40k Im using 2 lots. When in profit cut as soon as possible what ever it is $50, $100, $200 whats ever . I try aim anything from 10 to 50 pips per trade. What ever its gives me I take. If it goes against you must cut but be prepared for losses of up to 100 200 pips. It happen to me and when it happens dont get mad just wait for next time and you will make it back in 1 or 2 days trading.

Forget about text book stop loss theories for this pair because you will be stopped out every time. Risk reward should be 90% risk 10% reward. (yes you read that right) So getting entry right is a must.

You can also wait for the big movements on this pair it can move up to 100 pips in 5 minutes and all you need is scalp 20 - 30 pips to make your money. When you see it moving enter trade then exit, sometimes can make 20 pips in 2 seconds. This method you have to sit on the pc and monitor it untill it moves once you have become familiar with this pair you will just know.

Always watch sus/res lines, and candle stick patterns.

Dont use indicators they are useless. I only use MACD for confirmation.

Trading fundamentals on this pair is more important than technical.

This is how I trade it and get around 80% win rate and make anything from 1% to 5% per day. I know I will get a lot of heat from this post but this is how I trade it. What ever the text book says I do the opposite.
20 Pips a day keeps centerlink away
  • #735
  • Edited 5:18am Dec 16, 2015 5:03am | Edited 5:18am
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20 Pips a day keeps centerlink away
  • #736
  • Dec 16, 2015 5:55am Dec 16, 2015 5:55am
Quoting 3013
Buy 0900 tp 1050 sl 0840
I close 0882. Lost 18 pip on this trade.Tough trade. Fight in the next trade.
  • #737
  • Dec 16, 2015 6:00am Dec 16, 2015 6:00am
Quoting PaulDaemon
{quote} Also with this pair must watch your lot size because it can kill your account in minutes. On 40k Im using 2 lots. When in profit cut as soon as possible what ever it is $50, $100, $200 whats ever . I try aim anything from 10 to 50 pips per trade. What ever its gives me I take. If it goes against you must cut but be prepared for losses of up to 100 200 pips. It happen to me and when it happens dont get mad just wait for next time and you will make it back in 1 or 2 days trading. Forget about text book stop loss theories for this pair because...
Really thanks for your effort... I've tried many time to trade it with microlots cause i agree that's like a fire but often even if trade is wronk there are many opportunities for a retrace....
I've traded some extreme level and i've reach some good pips... but i'd like to understand also daily range movement... so i'll follow you to learn something...
Best Regards
  • #738
  • Dec 16, 2015 6:08am Dec 16, 2015 6:08am
stuck in a tight range. might break out during us open like last night.
  • #739
  • Dec 16, 2015 6:34am Dec 16, 2015 6:34am
Quoting Pip-Miner
stuck in a tight range. might break out during us open like last night.
yes still correcting..maybe i get my 660;s plus today....still short
I'm not a "Businessman" I'm a "Business-man"!! Jay-Z
  • #740
  • Dec 16, 2015 7:01am Dec 16, 2015 7:01am
sentiment on gbp is currently negative - that said - with the main event only a few hours away all bets should be off, expecting huge volatility
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