Tradefair & Financials
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For those of you who like to trade curriencies.Tomorrow- tuesday , the reseve bank will announce yet another interest rate decision.Pundits are 50/50 on a rise.Personally I dont think rates will rise but thats irrelevant to the trade potential.
On friday the aud rose about 100 pips for no reason, to 89.70's.This morning it has traded as high as 90.07.
Now heres the trade scenario-at 2pm aussie time, exacly 23hours from now, look for this.If the aud is spiking up short it, if it is spiking down-buy it.If its doing nothing , well sorry no trade.
Currently Im favouring a short, but Ive learnt from expereince not to prejudge these trades, just tade the opposite of the close spikes.
This trade method works well with aud interest rate announcements and usa job numbers.I believe those numbers are coming out this friday?
Ive done these trades a number of times now and when correct you can capture anywhere from 50 to 150 pips.Be careful about setting stop losses because often the 15 minute volatility can be huge.
Its all about manipulation.
Now all you snips get ready- no doubt you will floods into you negativity on this one.Nevertheless , theres $$$$ to made on this one.
time now 3.09pm aussie time.
On friday the aud rose about 100 pips for no reason, to 89.70's.This morning it has traded as high as 90.07.
Now heres the trade scenario-at 2pm aussie time, exacly 23hours from now, look for this.If the aud is spiking up short it, if it is spiking down-buy it.If its doing nothing , well sorry no trade.
Currently Im favouring a short, but Ive learnt from expereince not to prejudge these trades, just tade the opposite of the close spikes.
This trade method works well with aud interest rate announcements and usa job numbers.I believe those numbers are coming out this friday?
Ive done these trades a number of times now and when correct you can capture anywhere from 50 to 150 pips.Be careful about setting stop losses because often the 15 minute volatility can be huge.
Its all about manipulation.
Now all you snips get ready- no doubt you will floods into you negativity on this one.Nevertheless , theres $$$$ to made on this one.
time now 3.09pm aussie time.
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This post is wrong on so many different levels, I don't know where to begin. I don't have a lot time today, so I'll stick to a couple of observations (I don't want to pull a SUB)
First of all, I don't think you traded currencies in your life. If the a given cross "spikes" up or down, you missed the move, it's over. And if you don't understand the fundamentals that drive currency cross movements, you have no business trading them in the first place. You'll soon find out you've become cannon fodder. This move works well for US interest rate announcements in the US???? Really???? And how many interest rate movements have we seen from the FED ever since they went to ZIRP. And keeping it there was about the only highly predictable thing in the currency and bond markets. Evidently what was obvious to any currency trader that can fog a mirror, was a mystery to you. This forum is slowly being transformed into a comedy show. |
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And when you appear, it turns into bad drama.
Why don't you lay off this guy? Your post above is totally unnecessary. Also in your haste to be rude and supercilious, you've made a few errors in your remarks. It's obvious that this guy meant to suggest that if the AUD trades up or down after interest rate announcements, then take an opposite position, with not too tight stops. He simply uses the word spike incorrectly. But his meaning is clear. Als he refers the US job figure announcements as being a similar trading opportunity in the US, not interst rate announcements. Whilst I agree that Mr B would appear to be somewhat naive, over enthusiastic, and is obviously not a pro trader ( like you are apparently - I think not ), he is really doing no harm on here to anything or anybody, except perhaps to his own reputation if his very open and unquaified projections don't eventuate. Let him be what he is. Not many are replicating his moves I would think, as trading in exotic currencies like the AUD is a bit too hairy for most non-professional traders. But you should one day just try to behave and post like at least like a semi-normal, sociall animal. Could you ever do that please ? |
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Menelaus
Can you contribute with a better strategy, show us ur worth |
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Should be good for a contrarian trade, if nothing else.
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TRADE REPORT.
reserve bank lifted rates by .25% prior to the announcement the aud traded up from 89.8 to 90. In accordance with my plan I set sells above this at 90.11, 90.21. 90.31 and 90.41 Only he 90.11 and 90.21 were filled the aud spiked down in the 30 seconds after the announce to 90.59 the zoomed up to 90.3 and shot back down to a low of 89.57 before closing the 5 min bar at 89.82.I averaged 89.69 on the close out of 6 contracts, a gain of 282 pips with a net result around 3,300 aud. Its ok and I'm happy.But to be honest I was hoping for unchanged which could have seen a 100/150 pip fall in which I may have netted around 1,000 pips. Oh well not to be this time.I did miss being filled by another 5 short contract by 2 pips.Thats the way it goes. So onto the next trade this friday with the usa jobs report.I will use the same strategy. |
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Okay, I am going to pull a SUB because you're not worth taking 5 minutes to comment on this.
You've never traded currencies in your life. All you are doing is spewing nonsense on this forum. You have a long ways to catch up to YLB, but you're doing a good job of it so far. |
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Menelaus 02 Mar 20:56
lololol . I gotta feel sorry for you malanus.lol I post all the info b4 the trade. I posted my strategy b4 the trade.You still don't believe it.Thats your problem. oloolol do you believe your own reflection in the mirror? or need confirmation for that also? hahhahaha sorry , I just cant take this seriously anymore. It would'nt matter what happened you guys have a problem with it.lol Next time YOU have a trade melanus , do let us know.lolololololololol |
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You see tht's your basic problem ( with life ?) Menelaus.
You just can't bear the thought that somebody just might be able to see things you can't. Now I, like you, don't know whether Mr B is aftertiming these results, but I will give him the benefit of the doubt and at least admit that he laid out his planned trading strategy well before the events occurred. Why can't you do the same ? What does it matter if he is playing a game with us or not ?. I don't think he is, but it's irrelevant either way. Christ you're a sick, insecure little beggar. |
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From memory, AUD / USD tanked last month after the predicted interest rate rise didn't happen? If you thought the Reserve Bank weren't going to raise interest why did you trade? You could've lost a heap if your prediction had happened.
As it was, the interest rate rise (like last month) was already priced in and the big boys would've been buying days before you came to the table. It's not a good idea to trade near the top of a range. You're better off waiting for a retracement and for the price to find support - in my opinion. |
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no pastie not last month.I have'nt taded aud since last november.
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any way pastie please re-read my original post.I stated what I thought they would do BUT thats not the way I was going to trade it.
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I never stated that you traded last month when it tanked.
I was merely pointing out that you are going long near the top of a range with an interest rate decision pending (and the subsequent interest rate more than priced in), with a thought in your mind that the rates wouldn't be changed, and had you been correct then you'd have stood to lose plenty. |
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Pastie 04 Mar 20:16
I never stated that you traded last month when it tanked. I was merely pointing out that you are going long near the top of a range with an interest rate decision pending (and the subsequent interest rate more than priced in), with a thought in your mind that the rates wouldn't be changed, and had you been correct then you'd have stood to lose plenty. lolool pastie- is it you or me who is dense? I'm not interested if it was at the top of the range for this trade,if I was "picking" a trade I would TOTALLY agree with you.However these trades relate to announcements and the manipulation of curriencies leading into them. It as not a case of being correct or wrong, its a case of trading the maniplation surrounding the announcements. If you want to see it in live action watch the job numbers this friday watch the futures/euro/aud etc in the prior 30 mins and then watch the 5 minute bar as the announcement goes on the market. What you are talking about is making a trade based on my opinion at the time.Its not that kinda trade. |
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Just trying to help you think longer term old boy. There's more pips to be made long term rather than guessing nearing an important announcement and hoping it goes in your favour.
Enjoy your profits (not that I believe for one second you made any) as you'll end up with your @rse badly burnt if things didn't go your way. Forex is not something you can control and the risk / reward ratio of your strategy is not something I'd feel comfortable with 6 contracts (I assume your trading full contracts even though you should be trading mini's or a demo a/c?) on the table! Here's a tip from me MrBen - check out USD / JPY. It's not one for this week, but will turn up once the US start to raise interest rates. It's trading at around 88ish today. It'll be 100 in a year or so. Forget scalping and guessing the news based on 'spikes.' |
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Pastie
I like your style.. Remember, MR B has admitted that he is a GAMBLER betting on FEX.. Dangerous game, but can be profitable |