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AUD/USD

  • #94,761
  • Jan 20, 2016 3:13am Jan 20, 2016 3:13am
Quoting eugenyk
{quote} test of 6750 on the way
Cool... But I'm seeing it go just a little lower...

https://www.tradingview.com/x/QLnWVnhd/

0.65603 (1.27 fib)
Follow me at andrewfx2020 (dot) com
  • #94,762
  • Jan 20, 2016 3:32am Jan 20, 2016 3:32am
Final short on the retrace
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Come with me if you want to live....
  • #94,763
  • Jan 20, 2016 3:46am Jan 20, 2016 3:46am
i do not like trading against the trend and im longterm bear for audusd, but might take a small long on the completion of the 4HR pinbar.
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  • #94,764
  • Jan 20, 2016 5:52am Jan 20, 2016 5:52am
It made a new 12 month low while I was asleep... Damn lol
  • #94,765
  • Jan 20, 2016 6:23am Jan 20, 2016 6:23am
I'm trending n trending forex godfather
Inserted Video
  • #94,766
  • Jan 20, 2016 7:41am Jan 20, 2016 7:41am
Crap all US data seems to point to a Fed mistake. What now, the bottom is in?
  • #94,767
  • Jan 20, 2016 7:57am Jan 20, 2016 7:57am
Maybe for the day? The weekly chart is still bearish. MACD crossed this week.
  • #94,768
  • Jan 20, 2016 8:14am Jan 20, 2016 8:14am
Quoting Starcraftmaz
Crap all US data seems to point to a Fed mistake. What now, the bottom is in?
You could be right and I hope you are. If oil stays at these levels, I don't expect to to read a Fed minutes report without it mentioning the effects of oil on the CPI. I don't think we will hear any QE talk, at least not this year, but I think the Fed will hold off on raising interest rates for a while and will eventually have to cut.

I took a long position last September @ .6930 that I held for four months until I eventually got stopped out at a loss (I'm not afraid to admit it). I've been on the sidelines since, but I've now just entered a new position based on these numbers with a SL at .6812.
  • #94,769
  • Jan 20, 2016 8:22am Jan 20, 2016 8:22am
Quoting PizzaGuy
{quote} You could be right and I hope you are. If oil stays at these levels, I don't expect to to read a Fed minutes report without it mentioning the effects of oil on the CPI. I don't think we will hear any QE talk, at least not this year, but I think the Fed will hold off on raising interest rates for a while and will eventually have to cut. I took a long position last September @ .6930 that I held for four months until I eventually got stopped out at a loss (I'm not afraid to admit it). I've been on the sidelines since, but I've now just entered...

You have patience my friend
  • #94,770
  • Jan 20, 2016 1:57pm Jan 20, 2016 1:57pm
What a comeback for this pair!
  • #94,771
  • Jan 20, 2016 2:14pm Jan 20, 2016 2:14pm
So far so good

See if will follow thru Asia session
  • #94,772
  • Jan 20, 2016 2:39pm Jan 20, 2016 2:39pm
Quoting PizzaGuy
{quote} You could be right and I hope you are. If oil stays at these levels, I don't expect to to read a Fed minutes report without it mentioning the effects of oil on the CPI. I don't think we will hear any QE talk, at least not this year, but I think the Fed will hold off on raising interest rates for a while and will eventually have to cut. I took a long position last September @ .6930 that I held for four months until I eventually got stopped out at a loss (I'm not afraid to admit it). I've been on the sidelines since, but I've now just entered...
What was your target? Why did you not move your stop to break even or at least small profit when price entered 73 range 3 separate times during your holding period? What R:R do you use? (Given you were over 400 pips up and worst it would have been was 102 down you must be using higher than 4:1).

It's good that you can admit your mistakes but you also need to ensure you are learning from them. Good luck!
Hope for the best, prepare for the worst.
  • #94,773
  • Jan 20, 2016 2:40pm Jan 20, 2016 2:40pm
Well, he earned 4 months of positive swaps
  • #94,774
  • Jan 20, 2016 2:42pm Jan 20, 2016 2:42pm
Quoting Ken A
Well, he earned 4 months of positive swaps
true and hopefully that offset the loss but it may not have
Hope for the best, prepare for the worst.
  • #94,775
  • Jan 20, 2016 3:28pm Jan 20, 2016 3:28pm
Quoting dab
{quote} What was your target? Why did you not move your stop to break even or at least small profit when price entered 73 range 3 separate times during your holding period? What R:R do you use? (Given you were over 400 pips up and worst it would have been was 102 down you must be using higher than 4:1). It's good that you can admit your mistakes but you also need to ensure you are learning from them. Good luck!
My target is par and I don't mind holding for five to 10 years if it takes that long as long as the rollover is positive. So many traders close their positions after it has gone their way for only 10 to 30 pips. Yet if the trade goes against them they will hold on to the trade for a loss of 100 pips+ while continuing to add to their losing position only to eventually get closed out because of a margin call.

I use to trade this way also. But now I do the complete opposite. If a trade goes against me I close it quick; however, if it goes my way, at that point I add to my position.

Last September, I went long 150k at .6930, and I eventually got up to 300k. I moved up my SL, but I didn't have to move it up as much because of the positive swaps. I actually didn't end up losing that much. If anything really, just time.

Most of the time I get stopped out of trades, but because I keep a tight SL, I don't end up losing too much. When I do win on a trade though, it's usually massive.

Anyways, this time I have a much bigger starting position of 350k and I'm in it as long as I don't get stopped out. May the Aussie Gods look down upon us.
  • #94,776
  • Jan 20, 2016 4:21pm Jan 20, 2016 4:21pm
Quoting georgemoon
i do not like trading against the trend and im longterm bear for audusd, but might take a small long on the completion of the 4HR pinbar. {image}
left my long overnight and im suprised it hit my TP after more mining/commodity carnage. I'm thinking we might see a substantial rally if we get a decent dead cat bounce from other sectors. Waiting for more PA till any futhur trades.
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  • #94,777
  • Jan 20, 2016 4:39pm Jan 20, 2016 4:39pm
Quoting PizzaGuy
{quote} My target is par and I don't mind holding for five to 10 years if it takes that long as long as the rollover is positive. So many traders close their positions after it has gone their way for only 10 to 30 pips. Yet if the trade goes against them they will hold on to the trade for a loss of 100 pips+ while continuing to add to their losing position only to eventually get closed out because of a margin call. I use to trade this way also. But now I do the complete opposite. If a trade goes against me I close it quick; however, if it goes my...
Much of what you say makes good sense and shows that you have analysed yourself and your results. If by par you mean parity than you are using R:R of over 30:1 which, in my opinion is too high, but if it works for you then I wish you all the best. You are right that it has cost you time - are you familiar with the concept of opportunity cost?

I don't know whether your references to 150k in positions is indicative of your required margin or the size of the underlying asset you control, I don't know your leverage etc (I also don't need to know). If it is your required margin than you could be talking what I consider massive position sizes (approx 300 standard lots) and I would have thought that too large for a single entry. Depends a lot on how much capital you have (again I don't need to know - it's just a point for you to ponder if you haven't already) and how far along your trading journey you are. I've found it best to trade small position sizes until having found a system that works for me.
Hope for the best, prepare for the worst.
  • #94,778
  • Jan 20, 2016 5:19pm Jan 20, 2016 5:19pm
Quoting PizzaGuy
{quote} My target is par and I don't mind holding for five to 10 years if it takes that long as long as the rollover is positive. So many traders close their positions after it has gone their way for only 10 to 30 pips. Yet if the trade goes against them they will hold on to the trade for a loss of 100 pips+ while continuing to add to their losing position only to eventually get closed out because of a margin call. I use to trade this way also. But now I do the complete opposite. If a trade goes against me I close it quick; however, if it goes my...
Yep, that's right may the Aussie gods look down upon us. I'm short AUD since July 2014 and I would like to have another 10-15%.
  • #94,779
  • Jan 20, 2016 5:52pm Jan 20, 2016 5:52pm
Quoting Ken A
{quote} Stops moved to green +100 pips so far {image}
you caught that E/A ?
nice!!!! my sell limit didnt get hit had pending at 1.6070
pretty darn sad
  • #94,780
  • Jan 20, 2016 5:53pm Jan 20, 2016 5:53pm
Quoting HelloOz
{quote} you caught that E/A ? nice!!!! my sell limit didnt get hit had pending at 1.6070 pretty darn sad
Yep long AUD against USD and EUR
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