The AUD will fold against the USD, it is only a matter of time. Stay encouraged, the fundamentals in this case are essentially irrefutable. Australia is sensitive to global slowdowns, especially China. China is slowing down. It is not an if, but a when.
so I doubled my position at 477 which gives me an average of 492, and I have stop in for 50% at 492 that's a little closer than I like to play it, but that's the best I could do today so I'm down 3 in the CAD and up about 30 in the AUD (at twice the size) Ben bailed me out again
yes, that was most unfortunate. I got stopped out of one unit at 492, which was my new average after I added to a winner. The computer thinks I broke even, but I know better. CAD aint doing me much but still it's easing the pain of AUD which is once again my biggest loser. EUR went down, that was good because I was short, then it went back up which is bad because I'm still short. The one bright spot has been GBP/USD, I have been in and out of that many times on the long side, and that is keeping the whole thing from being a disaster. Ben bailed me out, Martingale saved me.
The aussie ain't a short for a few more months or more... This is a strong rally pattern. Even though there may be a few couple week week pullbacks the aussie really needs a EU crisis in order to go down. The AUD rose right from the start of the 2003 bull market in equities right up to the end...
I am extremely passive. My motto is, "If you wait long enough someone will make up your mind for you." I very rarely make trading decisions, usually the market makes them for me. But a while back I was watching Bloomberg and some guy made a very convincing case why AUD must depreciate against USD. Ever since then I have been shourt AUD in spite of what the market has been telling me. The few times I got long I took very small quick profits, because in the back of my mind are these fundamentals. If I am ever right, it will never even come close to how much I have lost. Wish I could break this dogged stubborn belief and just get back to my old passive chipper self. I already did this once in wheat, I don't need to do it again in AUD.
I keep averaging in. It cant go any higher. this will be a position into 2013.... see what happens blackguard --------------------- system shows 102 then 99 no time frame
still in this one, and green now first stop should be 102.2 after 99 will cover when it gets below 100 blackguard