Lately I would think it should have been much more difficult to lose in a trade on the AUDUSD. Just look at the momentum behind it and how quickly it has moved. IMO tight stop losses are the critical flaw. In my experience you should set a realistic risk-reward ratio that would be 1:2 or 1:3 (if your lucky!) and this calculation would show that often your stop loss needs to be 150pips minimum, if not 200+.
So the issue here is margin. Managing the margin cannot be under estimated. Its probably more important than where you put your stop loss. If you dont have enough funds in your account for a realistic stop then you might have to leave it. The odds of truly picking the peak (or trough) for a short (or long) are pretty remote. My best trades lately have seen me set and forget (with a stop generally 150-200pips depending on the entry), at least for a few hours.
I generally trade the 4hr and 30min chart. The 5min chart is rubbish imo. Trying to get <100 pips from a trade probably isnt worth it. On the 30min I use simple support/resistance and trendlines, plus the fib levels have been very accurate lately.
Good luck and I hope it helps. Lets crack below 80c tonight!
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