AudUSd

[Aussie3228 10]

Hi Folks, This is my first post. I am looking to sell oz next week at 1.0254 (61.8)with a stop around 1.0400.Looking for a move towards .97. I only trade the oz and it's crosses and have been doing so for about 10 years now.Only look at weekly,daily and 60 mins charts.

[bobcollett 10]

Hi Aussie

Why are you going to sell the A$ short?

Technical, fundamental or just gut feel?

Kind regards

bobc

[Aussie3228 10]

Hi Bob,

Only trade technicals.Nothing else.

I am selling because it broke below 1.0157.

Also I like to sell 61.8% fib retacements on daily swings.

See what happens.

Aussie

[bobcollett 10]

Hi Bob,

Only trade technicals.Nothing else.

I am selling because it broke below 1.0157.

Also I like to sell 61.8% fib retacements on daily swings.

See what happens.

Aussie

 

Hi Aussie

Whats the other side of this short?

The euro?

I hope its not the $US

Kind regards

bobc

[Aussie3228 10]

yep going to short it. Stop above 1.0400. Will leave an order to sell tonight Melbourne time.

[bobcollett 10]

yep going to short it. Stop above 1.0400. Will leave an order to sell tonight Melbourne time.

 

Well Aussie,

There are 86 000 members on TL

If you get this right, you will be a hero.

Lots and lots of members will be watching you

Kind regards

bobc

 

PS Have you ever read Eddie Koppel

[Aussie3228 10]

No never heard of him

[Eurocat 10]

AUD/USD is sell on rallies (target 0.9970 at least), successful close above 1.3315 would change the scenario though imvho

[bobcollett 10]

AUD/USD is sell on rallies (target 0.9970 at least), successful close above 1.3315 would change the scenario though imvho

 

Hi Eurocat

Great name.

Why do you what to short the $AUD/ USD?

Kind regards

bobc

[Aussie3228 10]

Hi Eurocat,

Ended up getting short at 1.0126 my stop is at 1.0170 now.

Hopefully it will keep going down

When I enter a trade I just work out at what point I am wrong and put my stop at that number.So I always work out risk first.

I let the market do the rest.

I always use trailing stops

Win some lose some.

[Eurocat 10]

I was waiting for a close below 1.0090 to confirm bearish outlook and it happened..next an expected retracement to the broken support level (1.0160) and turned to south. it was down to 0.9981...seems i was wrong 11 pips...i was expecting 0.9970...anyway, I still prefer sell on rallies strategy to go to 0.9820/0.9780 area

[Aussie3228 10]

Hi, I basically trade the same way.Wait for a break of a level and then buy or sell the retracement. Work off the higher timeframes with about 3 hours actual screen time max per day.Levergae of no more than 3:1 and risk about 2% per trade.Get my stop to break even as soon as possible so I get a free look at it .

[RealDemo 10]

Hi, nice entry.

 

Just wondering how you manage your trade. Your target of 97 is 400 odd pips away, do you go all in all out, or take profit along the way, or trail your stop?..... or maybe you add!

 

...anyway nice call.

[Aussie3228 10]

Hi,

I open 3 lots and take 1 lot off at around 100 pips or whatever I can get after 48 hours.Then I trail my stop to about 5 pips above previous days high. If I get stopped out I will re-enter if I think the trend is still valid. I have been trading fx for about 10 years and found that day trading just doesn't work for me.Also I hate sitting on the screen.So if I get in a decent trade I give it a bit of room and hopefully it will last days or even a week or so.

[Eurocat 10]

I risk around %1/trade

[Aussie3228 10]

yep.. 1% is far better I agree. But I the system I use requires a bigger initial stop. Also I hardly ever trade at market so most of my orders are hit when I am not on the screen.

[kuokam 10]

I like the way you do it. But don't you think that trailing the initial stop to BE too soon can take you out too early ? I often get in that situation .

 

.Get my stop to break even as soon as possible so I get a free look at it .

Edited December 17, 2011 by kuokam

[Aussie3228 10]

yep agree... I like to have about 150 pips up before I move it to break even and take one third off the table..

[Aussie3228 10]

Hi Folks, This is my first post. I am looking to sell oz next week at 1.0254 (61.8)with a stop around 1.0400.Looking for a move towards .97. I only trade the oz and it's crosses and have been doing so for about 10 years now.Only look at weekly,daily and 60 mins charts.

 

Trailing stop hit at .9990

Flat now until next year.

Have fun all.

[Aussie3228 10]

Hi Eurocat,

Ended up getting short at 1.0126 my stop is at 1.0170 now.

Hopefully it will keep going down

When I enter a trade I just work out at what point I am wrong and put my stop at that number.So I always work out risk first.

I let the market do the rest.

I always use trailing stops

Win some lose some.

 

Stopped .9990. See what happens in the new year.

[kuokam 10]

Can' t see its direction either. Challenging times for FX traders!

Hope things clear up by January

 

Stopped .9990. See what happens in the new year.

[Eurocat 10]

Stopped .9990. See what happens in the new year.

 

Nice profit:)

 

AUD bulls hit 1.0380 wall but I have a feeling that we may see that number again soon...Anyway, waiting for another breakout meanwhile...If it can break 1.0380 then 1.0480/1.0500 next, however a close below 1.0280 indicates it will go back to 1.0170

[kuokam 10]

Will buy above 10390

 

Nice profit:)

 

AUD bulls hit 1.0380 wall but I have a feeling that we may see that number again soon...Anyway, waiting for another breakout meanwhile...If it can break 1.0380 then 1.0480/1.0500 next, however a close below 1.0280 indicates it will go back to 1.0170

[Eurocat 10]

This week things will be more clear I guess

[Obsidian 10]

Nice profit:)

 

AUD bulls hit 1.0380 wall but I have a feeling that we may see that number again soon...Anyway, waiting for another breakout meanwhile...If it can break 1.0380 then 1.0480/1.0500 next, however a close below 1.0280 indicates it will go back to 1.0170

 

Bulls are trying to break that wall at the moment, you have great feeling I should say:)