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AUD
- Thread starter money tree
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That got this close ( ---) to my stop then . 
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hangseng
Gong Xi Fa Cai
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Seemingly a good chance of going quite a bit higher. Well picked Friday night, you did well.
BentRod
ZZZZzzzzZZZZzzzzzzzz
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Gday ithatheekret ,
Can you give a quick rundown on your methodology?
Looks like you scale into positions.
Do you scale out also?
How do you determine your exit?
What is your entry? Is it discretionary or purely systematic?
Hope you don't mind me asking.(Just tell me to get stuffed otherwise)
Keep those posts coming mate, I Enjoy following yours and also Kauri's.
Cheers
Bent
Can you give a quick rundown on your methodology?
Looks like you scale into positions.
Do you scale out also?
How do you determine your exit?
What is your entry? Is it discretionary or purely systematic?
Hope you don't mind me asking.(Just tell me to get stuffed otherwise)
Keep those posts coming mate, I Enjoy following yours and also Kauri's.
Cheers
Bent
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I don't actually like scale trading , not what I'd call a perfect strategy . I have scaled when I have missed bottoming and caught first bounce , but only if the price rehits my missed entry position . Scaling is fraught with mistakes IMHO and is like using a spanner to knock in a nail .
If the price starts moving with a bit of poke , I'll start banging away at the buy or sell button , once my target area is reached , they start getting folded straight away . Some entries may only be a couple of hundred dollars , sometimes less up , but they go anyway , $200 is $200 , add a few together and you soon have a grand . I never wait for what could be with a swag or positions , I take what I can get straight away , I will leave a dreg position usually one started at the beginning of a run , just in case moves continues to moves , it then has the trailer tighten up normally . Stops are kept tight and if I see something moving in a way that I believe my stop will get hit , why wait............. other times if I feel the way is safe and my stop is moved on but not hit . I will buy again and take the helm off auto .
None of it can happen though unless I have all the right signals I need and I'm armed with knowledge of supports etc., economic news and sideshow gossip , which is second to economic data for myself , floors ceiling and the like , should be in the ammo crate already , standard issue .
But the most important rule for me is : Don't leave the helm unless you really have to ......... really have to .
If the price starts moving with a bit of poke , I'll start banging away at the buy or sell button , once my target area is reached , they start getting folded straight away . Some entries may only be a couple of hundred dollars , sometimes less up , but they go anyway , $200 is $200 , add a few together and you soon have a grand . I never wait for what could be with a swag or positions , I take what I can get straight away , I will leave a dreg position usually one started at the beginning of a run , just in case moves continues to moves , it then has the trailer tighten up normally . Stops are kept tight and if I see something moving in a way that I believe my stop will get hit , why wait............. other times if I feel the way is safe and my stop is moved on but not hit . I will buy again and take the helm off auto .
None of it can happen though unless I have all the right signals I need and I'm armed with knowledge of supports etc., economic news and sideshow gossip , which is second to economic data for myself , floors ceiling and the like , should be in the ammo crate already , standard issue .
But the most important rule for me is : Don't leave the helm unless you really have to ......... really have to .
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Example , note 9088 now gone as target hit , but below I have a dreg position well in the money ( there were two ...were ) . I went to grab some 9108s had a 9106 order that was missed , went for a coffee and missed it entirely , tough luck , now I wait and strum fingers until I see a good set up again. The trade must come to me or get within swinging distance to have a go at it , you start chasing any price that comes along and you'll get eaten by savvy Asian traders in our daytime hours . NY trade will devour anything set up wrong . You have to at least have an idea where the swap is heading or where it can fall to .
I learnt the most in the school of knocks , best advice I can give is , never stuff up twice the same way .
I learnt the most in the school of knocks , best advice I can give is , never stuff up twice the same way .
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This play is a mixture of fundamentals and event trading , a little technicals for a splash of colour . Took a second shot to start constructing a play , we need it to play out yet , had a feww add ons but they have been exited 250's and 300's , bread and butter stuff , these trades can be 60 seconds to say 10 minutes . To lazy to attempt schwings in trends at present , far too much typing to multi task open positions as well . One dreg still in play will get closed prior to instrument rollover .
The main gist of the play being the incoming US rate cut and the next RBA hike in March , that's what I see being built into the swap at present . There are other supporting data flows out there , but the banks have held her back I would say today with the pillars weighing on the Index . ANz and CBA got hit hard , CBA dropped on divvy then it did it again doubling up on the previous move . I was really tempted to hit banks today , but will wait for EOD traders to have a looksie first , they could send them down again tomorrow , dependent on the next bout of US sessions .
The main gist of the play being the incoming US rate cut and the next RBA hike in March , that's what I see being built into the swap at present . There are other supporting data flows out there , but the banks have held her back I would say today with the pillars weighing on the Index . ANz and CBA got hit hard , CBA dropped on divvy then it did it again doubling up on the previous move . I was really tempted to hit banks today , but will wait for EOD traders to have a looksie first , they could send them down again tomorrow , dependent on the next bout of US sessions .
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I'll put these up in this thread , haven't rehit CAD yet busy doing something else at present not trading related .......
Will be back after , just got to get something sorted .
2nd time round on the Yen and lost count on Skip today , be happy if it were more than scalps . Off GBP at present , hauled those anchors in Kauri , just for a moment or two until I can get back at the controls .
Will be back after , just got to get something sorted .
2nd time round on the Yen and lost count on Skip today , be happy if it were more than scalps . Off GBP at present , hauled those anchors in Kauri , just for a moment or two until I can get back at the controls .
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Kauri
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Stormin_Norman
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after yesterday's early rise, i was waiting for the drop before getting in yesterday afternoon.
Just when I was getting worried it was going to go further down it turned. Hopefully the RBA statement is as inflationary biased as expected. That should push the dollar even higher.
Just when I was getting worried it was going to go further down it turned. Hopefully the RBA statement is as inflationary biased as expected. That should push the dollar even higher.
Stormin_Norman
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i saw the same thing. there seemed like a lot of bullish energy in the AUD/USD as the USD come off its strengthening.
the AUD/USD certainly smashed through the 9135 barrier.
Kauri
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RBA Minutes: Considered a Rise Of 50 BPS In February ...
Cheers
...........Kauri
Cheers
...........Kauri
Kauri
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talk of a barrier at 92.. might be a bit of a blue... but can't see her pulling her punches..
Cheers
..........Kauri
PS...RBA Minutes revealed that the RBA considered moving 50 BPS and considered a "significant further rise in rates could be necessary".
Cheers
..........Kauri
PS...RBA Minutes revealed that the RBA considered moving 50 BPS and considered a "significant further rise in rates could be necessary".
Stormin_Norman
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i was in at 9113 and have put my stop loss at 9175. hopefully the aud/usd kicks on.
Stormin_Norman
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hitting it for the first time. lets see what happens.
Kauri
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Has been well defended for a couple of hours.. think our Northern cousins may pop it though..
Have added a pyramiddie
Cheers
..........Kauri
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