AUD/USD | Page 4991 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

AUD/USD

Similar Threads

EUR/GBP, EUR/USD, GBP/USD, AUD/USD, CAD, NZD, JPY, and more... 15 replies

EUR/USD, AUD/USD, and CAD/USD ready to move up 2 replies

Anyone here trading AUD/USD or USD/AUD tonight regarding AUS Home Loan Report? 1 reply

The AUD/USD 1.00 EUR/AUD 1.60 GBP/AUD 2.00 Thread! 0 replies

AUD Trade Balance and AUD Retail sales 6 replies

Attachments: AUD/USD
Exit Attachments

AUD/USD

  • #99,801
  • Nov 22, 2016 11:26pm Nov 22, 2016 11:26pm
Quoting Pip-Miner
It took me 12 years to be consistently profitable and then when I finally understood how it works, I got bored. It's not interesting anymore... and so I quit. I feel a lot better now, since I'm not doing it anymore. That's the beauty of it all, you can quit anytime without a problem. I still watch you guys, but I'm free from this illness. I thought it would be hard to quit, but no, no problem, you just stop. It's like quitting smoking. thanks for your honesty. Like I mentioned 95% don't make it. It is best to quit early if you are trying for a long...
I believe he said he finally become successful then quit.
  • #99,802
  • Nov 23, 2016 2:08am Nov 23, 2016 2:08am
Quoting Jfrancis
{quote} You got bored off making money?
I got other more interesting and less time consuming ways.
  • #99,804
  • Nov 23, 2016 7:20am Nov 23, 2016 7:20am
Quoting Pip-Miner
Interesting analysis in this thread. I would class myself as a professional trader, since my main income comes from trading. It took me 2 years to be consistently profitable and get my psychology correct ( hardest part by far ). Believe it or not the system or methodology you use is trivial. You are best picking a system your a comfortable with and practicing for hundreds of trades demo and Live until you achieve a high rate of success. Here are some common mistakes I eliminated and made me part of the 5% successful traders in the world. http://www.slideshare.net/ForexTrain...-to-avoid-them...
 
HI all. thanks for posting and keeping the thread alive. there is a very interesting thread where a guy called Sisse posts interesting but at times complicated analysis. point is I am trying to really understand WHO makes money in trading. do you need a masters degree as this guy seems to have? of course it won't hurt.
Or is just about following patterns and avoiding major movers unless that is what you are trading...
 
My particular case is that of the 95 % . I lost more money that I could afford to and now I am burnt. fear as many pointed out dominates me now. so I am trying yet again for the third time to see if I can figure this out. for now I am just reading and re learning.
 
Do you know people who lost lots of money? most people talk about wins not lose . I got into gambling mode which I believe is what happened to many 
  • #99,805
  • Nov 23, 2016 7:33am Nov 23, 2016 7:33am
Quoting Jfrancis
{quote} Wait for a corrective structure(bear flag) to sell again. Don't try to buy it while it's correcting unless it's short term and you know what you're doing.
As I mentioned, Aussie is going into correction. The pattern is not over yet more to come

Look for something like this
Attached Image (click to enlarge)
Click to Enlarge Name: download (61).png Size: 89 KB
  • #99,806
  • Nov 23, 2016 7:46am Nov 23, 2016 7:46am
Quoting thewriter30
{quote} Â HI all. thanks for posting and keeping the thread alive. there is a very interesting thread where a guy called Sisse posts interesting but at times complicated analysis. point is I am trying to really understand WHO makes money in trading. do you need a masters degree as this guy seems to have? of course it won't hurt. Or is just about following patterns and avoiding major movers unless that is what you are trading... Â My particular case is that of the 95 % . I lost more money that I could afford to and now I am burnt. fear as many...
I think we've all lost a significant amount of money. It comes with the territory.

This time you should gain as much knowledge of possible before you start trading with real money again.
  • #99,807
  • Nov 23, 2016 7:47am Nov 23, 2016 7:47am
Quoting Jfrancis
{quote} As I mentioned, Aussie is going into correction. The pattern is not over yet more to come Look for something like this {image}
Will keep an eye on it
20 Pips a day keeps centerlink away
  • #99,808
  • Nov 23, 2016 8:04am Nov 23, 2016 8:04am
Quoting thewriter30
{quote} HI all. thanks for posting and keeping the thread alive. there is a very interesting thread where a guy called Sisse posts interesting but at times complicated analysis. point is I am trying to really understand WHO makes money in trading. do you need a masters degree as this guy seems to have? of course it won't hurt. Or is just about following patterns and avoiding major movers unless that is what you are trading... My particular case is that of the 95 % . I lost more money that I could afford to and now I am burnt. fear as many...
I have lost money at the start. Not a lot but enough to learn from in order not to get burnt. I have friends and met people that have lost 10's of thousands in short periods.

i like many took to FX to get rich off a $1000. But it didnt take too long to understand its not about jumping in and clicking buttons . It takes aot of study chart time and passion. You need to want it and willing to work for it.

What made it work for me is I started trading on a large demo. $100,000 plus. This is a part of the psychology. You need to know how much you can make trading a large account keeping the DD low. When you can keep the demo at least 6 months then trade a live account keeping the same percentage ratio on your positions. Trading a large demo along side a small live account will keep the ego at bay.

Get a demo account that doesnt expire. I didn't know I could get this until I asked my broker, if I did I would of had my TE demo a lot longer. My live account is much similar to the demo only not as large.

May be taking a break from FX for a while got too many things to do atm.
20 Pips a day keeps centerlink away
  • #99,809
  • Nov 23, 2016 9:09pm Nov 23, 2016 9:09pm
I have lost money at the start. Not a lot but enough to learn from in order not to get burnt. I have friends and met people that have lost 10's of thousands in short periods.

i like many took to FX to get rich off a $1000. But it didnt take too long to understand its not about jumping in and clicking buttons . It takes aot of study chart time and passion. You need to want it and willing to work for it.

What made it work for me is I started trading on a large demo. $100,000 plus. This is a part of the psychology. You need to know how much you can make trading a large account keeping the DD low. When you can keep the demo at least 6 months then trade a live account keeping the same percentage ratio on your positions. Trading a large demo along side a small live account will keep the ego at bay.
Get a demo account that doesnt expire. I didn't know I could get this until I asked my broker, if I did I would of had my TE demo a lot longer. My live account is much similar to the demo only not as large.
May be taking a break from FX for a while got too many things to do atm.
We have all lost money at the start like Paul mentioned. Unless your a freak you wont be a long term profitable trader straight away. Patience is something that I had to learn with time. Don't just take any trade , only the high probability ones. Don't trade if your too busy like Paul mentioned. You need to be 100% focused and committed on EVERY trade. An example, putting the wrong pip amount ie 1.0 instead of 0.01 and it could wipe out a years profit after a late night out/ You might of made 1000 good trades but in one night you can lose it all. This is why being profitable consistently over a long period of time is much more difficult then people like to believe.
  • #99,810
  • Nov 24, 2016 1:35am Nov 24, 2016 1:35am
Entered AUD/USD short with 4 hr technical confirmation. Divergence between US Fed's rate rise and AUD overvaluation in the G10 currency bloc.

Inserted Video
  • #99,811
  • Nov 24, 2016 2:33am Nov 24, 2016 2:33am
Quoting thewriter30
{quote} Â HI all. thanks for posting and keeping the thread alive. there is a very interesting thread where a guy called Sisse posts interesting but at times complicated analysis. point is I am trying to really understand WHO makes money in trading. do you need a masters degree as this guy seems to have? of course it won't hurt. Or is just about following patterns and avoiding major movers unless that is what you are trading... Â My particular case is that of the 95 % . I lost more money that I could afford to and now I am burnt. fear as many...
HEY BUDDY, WHEN I KNOW HOW EXACTLY TO DO IT, I WILL LET KNOW, STILL IN A PROCCES OF RESEARCH. i THINK BIG PART IS MONEY management, AND STYLE OF TRADING. I DO LOST A LOT OF MONEY, AND .......DOESNT FEEL GOOD.NOW PLAYING WITH THE SMALLEST AMOUNTS AND TRYING MONEY MANAGEMENT RULES.
I KNOW THATS MY PROBLEM AND I HAVE TO WORK WITH IT. ITS VERY DIFFERENT WITH REAL MONEY COMPARE TO DEMO, I WAS DOING VERY WELL ON DEMO, BUT REAL NOT AT ALL. THE DIFFERENCE IS THAT IN REAL MONEY, WHEN YOU LOOSE, YOU ARE WILLING TO RISK AGAIN DOUBLE OR EVEN MORE JUST MAKE A LITTLE PROFIT, AND IF THIS DOESNT WORK , U READY TO GO AGAIN AND RISK TRIPLE OR EVEN MOREV OF THE ORIGINAL AMOUNT OF ATTACK( WHICH SHOULD BE THE MOST 7% TO ME , I AM STILL NOT PROFESSIONAL , WHERE IS 2% TO 5 %), AND 4-5 WRONG decisions LIKE THAT, AND YOU ARE OUTTTTTTT. BIG TIME, SO NOW I KNOW, BUT ITS HARD, BECAUSE U HAVE TO BE VERY patient AND OF COURSE NEED TO HAVE A LOT OF knowledge........
SO IMAGINE YOU HAVE THE KNOWLEDGE, YOU STILL NEED TO IMPLANT ALL THIS MONEY MANAGEMENT RULES( WHICH ARE SUPER IMPORTANT , IF U REALLY WANNA BE SUCESSFUL)
WELL MAY BE THATS WHY 95% OF PEOPLE LOOSE
I GUESS IF U ARE STILL HERE STILL FIGHTING
HAHAHAH, GOOD LUCK TO EVERYONE
  • #99,812
  • Nov 24, 2016 3:08am Nov 24, 2016 3:08am
Quoting lioslim
{quote} HEY BUDDY, WHEN I KNOW HOW EXACTLY TO DO IT, I WILL LET KNOW, STILL IN A PROCCES OF RESEARCH. i THINK BIG PART IS MONEY management, AND STYLE OF TRADING. I DO LOST A LOT OF MONEY, AND .......DOESNT FEEL GOOD.NOW PLAYING WITH THE SMALLEST AMOUNTS AND TRYING MONEY MANAGEMENT RULES. I KNOW THATS MY PROBLEM AND I HAVE TO WORK WITH IT. ITS VERY DIFFERENT WITH REAL MONEY COMPARE TO DEMO, I WAS DOING VERY WELL ON DEMO, BUT REAL NOT AT ALL. THE DIFFERENCE IS THAT IN REAL MONEY, WHEN YOU LOOSE, YOU ARE WILLING TO RISK AGAIN DOUBLE OR EVEN MORE JUST...
I agree with you on this.. Money Management is the way forward .. It's the main thing to do than just opening trades and closing.. with MM, you are able to feel the market and have wide SL just in-case the RB decides to trow in little fake outs .. Thanks for this im sure alot of people will learn from it too
  • #99,813
  • Nov 24, 2016 6:20am Nov 24, 2016 6:20am
Quoting Daniel 777
Entered AUD/USD short with 4 hr technical confirmation. Divergence between US Fed's rate rise and AUD overvaluation in the G10 currency bloc. https://www.youtube.com/watch?v=_vQdd3liflI
Gat any chart to show the confirmation?
  • #99,814
  • Nov 24, 2016 6:52am Nov 24, 2016 6:52am
Looks like bears power coming again.
We are at 50% last swing, so break or bounce here.
  • #99,815
  • Nov 24, 2016 10:55am Nov 24, 2016 10:55am
Nice exchanges going on about surviving the markets.
I think it's perfectly natural to be fearful and lacking in courage. For instance, I had a scalping strategy today which was to buy at each repeated hit of 7364 and take 6pips profit per try, and stop if and when it breaks below 7360. The pair hit 7364 precisely FIVE times and bounced over 10pips each. I would have profited nicely . But Ironically never did I enter the trade on any of those five occasions - fear. Because last week, I got burnt on the few occasions I took the courage to pull the trade. I kept fearing 7364 would break and I'd lose more again.
In the longer term, I have found myself going through emotional cycles which have been relative to my performance in the markets. So it's at times like this when I find my courage on a downward spiral with fear overtaking me, that I will stop and take a week's break. Personally, that's my strategy for managing the emotional aspect that controls our trading behavior. I think it's very common amongst all traders to go through these emotional cycles and I think it's very important to be able to learn to manage it. This, together with smart money management, as @lioslim mentioned, I feel are key for long term success in the forex market - looking for steady and consistent profits over time.
  • #99,816
  • Nov 24, 2016 10:58am Nov 24, 2016 10:58am
Quoting MaryJ84
Looks like bears power coming again. We are at 50% last swing, so break or bounce here.
Better not speculate, there's nothing to suggest sellers are gaining control imo. As a matter of fact, the pair has remained steady above 7360 (80pips lost from yesterday) and recovered almost 70% whilst other pairs like the U/J and E/U have moved way over a hundred pips and recovered less than 50%. From where I see it, the 200h MA currently at .7438 will be tested. Profit taking also possible into the weekend, after a stellar week for the USD!
  • #99,817
  • Nov 24, 2016 12:29pm Nov 24, 2016 12:29pm
Its coming down nicely

Attached Image (click to enlarge)
Click to Enlarge Name: download (61).png Size: 89 KB


Attached Image (click to enlarge)
Click to Enlarge Name: download (4).png Size: 82 KB
  • #99,818
  • Nov 24, 2016 12:31pm Nov 24, 2016 12:31pm
Now this B wave is not complete. Expecting 1 more move down before going up for the C wave.

Attached Image (click to enlarge)
Click to Enlarge Name: download (5).png Size: 71 KB
  • #99,819
  • Nov 24, 2016 1:16pm Nov 24, 2016 1:16pm
Quoting ell3
{quote} Better not speculate, there's nothing to suggest sellers are gaining control imo. As a matter of fact, the pair has remained steady above 7360 (80pips lost from yesterday) and recovered almost 70% whilst other pairs like the U/J and E/U have moved way over a hundred pips and recovered less than 50%. From where I see it, the 200h MA currently at .7438 will be tested. Profit taking also possible into the weekend, after a stellar week for the USD!
True. I will wait till next week with trading anyway, dont want to hold position for weekend. Fridays can be less predictable, today also we have a bank holiday (USD).
  • #99,820
  • Nov 24, 2016 4:19pm Nov 24, 2016 4:19pm
Quoting Jfrancis
Now this B wave is not complete. Expecting 1 more move down before going up for the C wave. {image}
Yuo have been saying for quite a while now that we are already in wave 5 which will go down to the low 70s...and now you say it is going back up "as you are expecting"..can you make up your mind?

This was from your post 5 days ago:
Attached Image (click to enlarge)
Click to Enlarge Name: download (50).png Size: 76 KB
25 traders viewing now