Comments on: AUD pops up slightly after improved China PMI data

By: Yue

Yue — Thu, 21 Mar 2013 07:00:25 +0000

Sorry for reply so late. I just come back. Ok, If this opportunity comes, please remember to tell us. I trade Forex just half a year, look forward to learn more from you….

By: Sean Lee

Sean Lee — Thu, 21 Mar 2013 04:06:36 +0000

I like that Yue, obviously there are some very few occasions when we need to muscle up and have a big play, but this only happens very seldom in my opinion, 4 or 5 times a year

By: Yue

Yue — Thu, 21 Mar 2013 03:54:59 +0000

Haha……Ok, I see. The old Chinese saying “Haste makes waste’ （欲速则不达）may well suit for the Forex trade.

By: Sean Lee

Sean Lee — Thu, 21 Mar 2013 03:47:41 +0000

Oh I see, much of your profit was eaten by the greedy broker. Yes indeed it can be very very stressful if we use too much margin. I try to keep it around 6:1 or 8:1 leverage and only will increase sharply for short periods if I have plenty of profit in the trade and am ‘in form’. Otherwise my grey hairs will be white very quickly 🙂

By: Yue

Yue — Thu, 21 Mar 2013 03:46:21 +0000

In those days, I traded as gambling. Now I enter all the trade with small amount and add the position when the trend is confirmed. All these is learned from your blog, Thank you,Sean!

By: Yue

Yue — Thu, 21 Mar 2013 03:40:41 +0000

heihei…English is not my native language, I am sorry for Inappropriate express……In January, AUDUSD stayed quiet above 1.05, in February, it begin to decline obviously, during these days ,I kept the positon open, the swap was calculated day by day. The most worried was AUDUSD could break 1.0605 to 1.08zone. I had very bad and impatient mood during those days……for the amount was large according to my account, If 1.08 comes, Margin call would also come……

By: Sean Lee

Sean Lee — Thu, 21 Mar 2013 03:21:50 +0000

I don’t understand Yue, if the position is closed how come you still pay interest? Also much of money that brokers make is made on overnight rolls, which are wide enough to drive a bus through 🙁

By: Yue

Yue — Thu, 21 Mar 2013 03:02:57 +0000

I am waiting to sell new high of AUDUSD. In January I sold it around 1.0590 and closed around 1.0280, but I have to pay $7.92 per day per lot of the interest to my broker. Very sour trade……

By: Sean Lee

Sean Lee — Thu, 21 Mar 2013 02:43:25 +0000

No strong view there sorry Kirill. Overall I’m still strongly of the view that at some stage the AUD/USD will correct sharply lower, towards 95, but that could mean that USD/CAD is at 110 again? Not much help, sorry

By: Kirill

Kirill — Thu, 21 Mar 2013 02:33:53 +0000

Sean, do you have a view on AUD/Cad? Current levels are looking attractive for short in this pair, but i am not happy with recent dynamic: aud is heading north, while cad is struggling against usd.