Forex Pair of the Week is Eur/Aud

Casey Stubbs– Please follow me on Twitter for trading updates during the week.

Welcome forex traders, I have done a video because the overwhelming majority said they prefer videos to article format. I will probably eventually put it in both article and video format, so that those people that like videos will get them and those that like articles will get those.  The weekly analysis is in the video below the article.

Questions for You:
The pair in the video is the Eur/Aud but before I get to that I want to ask some questions:

  • What pairs would you like us to cover on this blog?
  • What is your greatest challenges in trading?
  • Have you been able to have long term success in your trading for over a period of a year or more?
  • What types of articles would you like, Educational, Technical analysis, fundamental Analysis? All of the above?

This blog is for successful traders and traders that are attempting to become successful. We need your feedback to make this blog great please participate in the comments section.

Speaking of Education here is a great article about mental strength that is critical to becoming a great trader. I love analysis but there is nothing like old fashion trading. So here is a live trade that Nathan Tucci Published on my blog this week.  At Winners Edge Trading we encourage participation so please join the discussion about maximizing profits on this article.

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  • Buster48

     once again spot on and what a drop it was

  • http://www.winnersedgetrading.com caseystubbs

    YOu are welcome

  • http://www.winnersedgetrading.com caseystubbs

    Have you Tried 
    http://www.hotforex.com/?refid=9951 I have an account with them.

  • http://www.winnersedgetrading.com caseystubbs

    Matt, I think that we could see a retrace soon because the current pace is unsustainable. Did you See Sophia’s Article about the Gbp/USD http://www.winnersedgetrading.com/gbpusd-trading-consolidation-range-trading-opportunities/

  • Matt Barker

    Hi again Casey and everyone here, I commented earlier but wanted to add this question. What does everyone think about gbp/usd for the coming week? It seems I have been waiting for a retrace on this pair forever now. I would like to short the retrace and then buy a potential uptrend continuation.

  • http://www.winnersedgetrading.com caseystubbs

     Thats right, we react to the market and take what the market gives, it is always good to look and think about all the different scenarios.

  • http://www.winnersedgetrading.com caseystubbs

     Thanks, Jay I am glad you find the site useful. We are working hard to help traders just like you.

  • http://www.winnersedgetrading.com caseystubbs

     Thanks for the feedback, I appreciate it and keep trying if something hasnt been working for you dont give up just try a new angle and you might see different results!

  • http://www.winnersedgetrading.com caseystubbs

     Thanks Buster

  • http://www.winnersedgetrading.com caseystubbs

    We will be watching the news closely this week to see how that will impact this pair, becuase if the rates drop we could see a huge move against the Aud.

  • http://www.winnersedgetrading.com caseystubbs

     Claudius, thanks for the feedback. We will definately be looking at the Eur/Usd, so stay tuned.

  • Dkoster77

    Are you kidding Austin?  In my opinion those that get stopped out to see the trade go their way did not place the proper stop.  Losses are part of the business.  I think you missed my point about EAs (albeit managed) and mental stops.  Sounds like you are one of the lucky ones when it comes to trading.  Do you ever step away from your screen?  Do you know that the pair will eventually turn in your direction?  This particular EA trades without stops.  It was recently buying at the top of the AUD at the 1.77 level and continually bought as the trend was clearly down, again without stops.  Then when the EA realized the trend was down it placed a large sell order at 1.2577, without a stop.  I hope you never blow your micro account.  I will continue to trade with stops.   

  • Claudius

    Hi, I just started with forex and apply same methodology than for futures. I’d like some technicals on eurusd

  • Daniel

    Hi Casey, As you said the analisys is simple but when to enter and the managment  the trade is the hard part. I’ m still working on discipline and patience ( i lost a lot of trades because of that). Every time i watch the videos from you guys i get motivade to continue on this journey.Thanks Casey and all the team of Winners Edge

  • Kalonga22l

    Thanks for a graet video, I have a question, you mentioned the Au dollar went high this week can you show some insight as to why it did when the interest appears to be dropped on Tuesday this week I thought vit should have cause the AUD to drop. any comments

    Col

  • Buster-48

    another great vidio  keep em coming they,re a great help for things to look out for .

  • Beelyjay

    Casey great analysis, in regards to ur questions

    1. would be great if u covered  gu, eu and au constantly every week

    2. my greates challenge in trading has been being consistent in my profit making this is due to the fact that I dont stick to my trading plan 100%.

    3. no have not been successful for a year 

    4. All of the above

  • Wolverine

    You’re right !!

  • Jay

    Hey Casey,thanks for your videos. The videos definitely make it easier to understand the forex market and how to analyze to become a better trader. I recently became interested in the forex market a few months ago and have learned quite a bit about forex through your emails,free tools and now videos. Thanks again and keep up the good work!!!

  • Kkruiz

    I appreciate your logical and sound analysis. I also enjoy your “if/then” scenarios. We all know the market will move as it’s going to move and our job is to make money by adjusting to it.

  • Jay

     Hey Brit, try Infinity futures http://www.infinitybrokerage.com/ Im a customer and they are great.

  • Johnbrown80

    I have been using a Demo a/c fotr some time and have fpound your articles extremely helpful – Thank you.
    I personally prefer your text version, as I can print the article & study and use as future reference,.Of course both types of presentation would be great.Once again thank you for your help.

    John Brown

  • Matt Barker

    Casey, thank you for another excellent article/video.

    I would like to see the following pairs covered on the blog: eur/usd, gbp/usd, aud/usd.

    My biggest challenge right now as a trader is time. I still have a day job and I can’t get by staying up all night to trade so I tend to stick to daily and 4 hour charts for actually making trades. I would love it if I knew some kind of strategy for trading the daily timeframes but my stops are so big that it overwhelms me most of the time.

    So I guess I would say I prefer educational and technical analysis articles/videos for the blog.

    Thanks again and happy trading this week!

  • Gazza1963

    thanks for the videos, it really helps to see another traders view, im interested what setting do you use for your williams %R ? thanks again for your efforts

  • Phil

    Hi  Casey , Thanks mate I have been following you  and participating in quite a few of your trades in the last year or so .I always learn a great deal from you and your team at winners edge trading  You Sophia and Nathan are all great  traders .I guess to answer your  questions  1, What Pairs Aud/Usd,  Nzd/Usd,  Eur/Usd , Gbp/Usd, and the major Yens , Gold and Silver . I guess are my main trading pairs. 2. Patience and not panicking in a trade when I see it going against me .Knowing when to pull the pin if it is,  trying to avoid  too many lossesEgI was in the Aud/Usd Thursday Friday long and sold at a loss,  only to find it  bounced again after I got out and went on and hit my profit target 100+ pips  and it would have missed my stop by 12 pips..AlsoLosing profits  when target is not hit by a few pips then seeing a large retrace and hitting your stop. 3. long term success? , No not really yet .I tend to have some winning trades  then a few more losing trades  and lose more than I win.    at best over time i am  just slightly ahead .in dollar terms. .4. I like technical analysis , and trade management especially when in a trade .Trading psychology  and educational articles  Also I would like to know about Risk on Risk off , which currencies and commodities are affected  What economic factors determine risk on or off  how long could we expect risk to stay in the direction when does risk on become risk off ? How about Oil  and the Usd/ Cad  which currency pairs does oil price affect?
    Thanks  for your  generosity
    Your NZ friend

    Phil

  • Will

    Great stuff Nathan,every time I watch or read your comments I lean something.
    Hopefully as my trading improve I’ll feel confident enough to contribute.

    Thanks mate! 

  • austin

    Interesting on stops. A lot of people get stopped out on trades only to see the trade go their way after being stopped out. I don’t use stops anymore for this reason.
    My trade plan allows for small micro-lots only and then it doesn’t matter if the trade goes against you initially, it eventually comes back and if not then I adjust my take profit and trade again from a  support – resistance level either at the same position size or a larger one. I might take a break-even or a small loss on the first trade and a larger profit on the second. If it continues to go against me I again place a new trade in the same direction from another S-R level. All the time I make a profit on the basket of trades. Trading small is the key. This gives you control.

  • Brit in MIichigan

     What is your greatest challenges in trading? Finding a Broker I can trust.

  • Dkoster77

    1)  I would like to see your analysis on the following pairs EUR/USD, AUD/USD, USD/GBP, EUR/JPY
    2)  My greatest challenge is having a JOB and trying to trade around it.  Therefore I tend to trade the daily time frame.  Therefore my stop losses are large.  3)  I would like to see more educational and technical articles because today’s charts tend to reflect tomorrows news.  I follow the major news announcements on Forex Factory and I am a technical trader.  I try to keep things simple and trade with only 2 SMAs and FIBs.  I think psychology is a major factor and your references to these types of articles is very helpful.  4)  My trading progress was steadily improving until recently when I took one major loss.

  • Dbk777

    Nearly all sound FX and investing advise is to use stop losses.  Some traders use mental stops with an alarm however it seems that the majority of traders will use them to limit large losses and margin calls.  If that is the case then why don’t some FX EAs use them?  I lost more than 1/3 of my account in one trade using such an EA.

  • Exeis

    Hi Casey, once again with you.

    First, I’m living at the Argentine Republic so I am spanish speaker. When you speak in your language but slowly I can understand you at all, but when you speaks fast I begin thinking “I should read this”. Anyway, I think you can show your video with a little explanation about it and that’s enough for understanding.

    Least, when trying to follow a trend I began to appreciate the importance of support and resistance, congestion zone and distribution. Concepts that I can explain at the left and at the middle of the chart, but the  hard work is to decide what to do at the right corner of the chart.

    I’m trading forex in daily charts since a year ago because of my work, trying to keep some cents in my balance. I’m using EMA 100 for stablishing S/R and MACD for detecting highs, lows and divergences; sometimes I use CCI 14 for clarifying some apreciations, but the market seems to be dissaponting my work.

    I thank you all there your work, your teaching classes and efforts.

    Be happy in your work.

    Julio

  • Jackie W. Cox

    Thank you Nathan for your video. You’ve done a wonderful job on it. I’ll be watching this one this week. Hopefully I’ll profit from it!!!!