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Auslanco - GBP/JPY and GBP/USD (newstrade)

  • #21
  • Jul 28, 2007 10:18pm Jul 28, 2007 10:18pm
:surprised WoW!!!! Isnt this thread created to learn? Not to just follow.:surprised

A man can give another man a fish, which lasts one day.
But if you teach him how to fish, That man can fish for life on his own!!!


Quoting Venturess
Great to be here Auslanco. Looking forward to learning from you.

Also opened an FXCM account and wanted to know how to set it up for auto trading and your signals.

Thank you
Venturess
  • #22
  • Jul 28, 2007 10:28pm Jul 28, 2007 10:28pm
No need to get so hyped up Que. And yes, it is my money and therefore my business whether I choose to use live calls or use the calls to augment my own system.

What's with the attitude. If you wish to be helpful, change your tone or butt out.

Quoting Que
I am quite sure he is not placing live calls for you to auto trade on. As a matter of fact, he will probably not give any live calls. He is not your personal trade calling bitch.

He formed this thread to teach you to trade his way, not for you to blindly follow his every move. It's your money, take responsibility for it for gods sake.
  • #23
  • Jul 28, 2007 10:29pm Jul 28, 2007 10:29pm
Below 50 and sharp pointing south
Good bearish momentum
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  • #24
  • Jul 28, 2007 10:31pm Jul 28, 2007 10:31pm
Quoting newjersey24
:surprised WoW!!!! Isnt this thread created to learn? Not to just follow.:surprised

A man can give another man a fish, which lasts one day.
But if you teach him how to fish, That man can fish for life on his own!!!
Yes this thread is for learning and auslanco is very well aware that I am here to learn.

That fish story is sounding a little hackneyed me thinks
  • #25
  • Jul 28, 2007 10:32pm Jul 28, 2007 10:32pm
deleted
  • #26
  • Edited Jul 29, 2007 12:00am Jul 28, 2007 10:36pm | Edited Jul 29, 2007 12:00am
Below Zero but pointing up
Ready for a retracement up to 5 SMA
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  • #27
  • Jul 28, 2007 10:36pm Jul 28, 2007 10:36pm
Auslanco, I have spent a good part of today taking notes and studying the charts you posted in the other thread in the last few days.

I'm back-testing using your methods and trying to set up the VT charts.
  • #28
  • Edited Jul 29, 2007 12:00am Jul 28, 2007 10:41pm | Edited Jul 29, 2007 12:00am
Below Zero but no strong pointing up or down

Bearish Nuetral...
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  • #29
  • Edited Jul 29, 2007 12:01am Jul 28, 2007 10:44pm | Edited Jul 29, 2007 12:01am
On the Zero line.. No strong pointing to either side...
You will see this pattern on ranging market condition
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  • #30
  • Jul 28, 2007 10:49pm Jul 28, 2007 10:49pm
Sudden change of momentum from bearish to bullish
It will retraceto 5 SMA and beyond. You have to watch out for this kind of indications as this kind of pointing could lead to 100-200 pip retracement or change of the trend on 4hr/daily charts
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  • #31
  • Jul 28, 2007 10:50pm Jul 28, 2007 10:50pm
Auslanco,

Glad you started your own thread. If this week is as volatile as last, it may be 500 pages by friday.

Quick question about money management. In order to obtain larger positions while minimizing risk, I scale into orders. I will place an order with say a 50 pip trailing stop. 50 pips below that, i will place a second order. Depending upon the size of the expected correction, I might have three or four levels of entry. I just was curious to see if you see any potential problems with that approach.
  • #32
  • Jul 28, 2007 10:52pm Jul 28, 2007 10:52pm
Quoting auslanco
Dear traders....
Stay away from the ranging markets. There will be enough of trend break outs on this pair than you ever want. Why take any extra risks trying to chase 20 pips on a ranging markets when you can grab 200 pips on a break out.
I disagree. That trend break can go against you in this pair so easily. Trading ranging markets in shorter timeframes can make you money if things are done correctly. You can reach 200 pips in a short period of time. It is easier to predict the next price movement in the ranging markets. When you try to spot a big move like 200 pips movement at one time, it is likely you'll get stopped out. But this is just a difference of one's trading style.
  • #33
  • Jul 28, 2007 10:53pm Jul 28, 2007 10:53pm
Thx Aussie,
  • #34
  • Jul 28, 2007 10:54pm Jul 28, 2007 10:54pm
Thanks Auslanco for the helpful thread. This is also my favorite pair to trade. I look forward to much profitable discussion here.
Scott
  • #35
  • Edited 11:10pm Jul 28, 2007 10:58pm | Edited 11:10pm
Quoting ukutrader
I disagree. That trend break can go against you in this pair so easily. Trading ranging markets in shorter timeframes can make you money if things are done correctly. You can reach 200 pips in a short period of time. It is easier to predict the next price movement in the ranging markets. When you try to spot a big move like 200 pips movement at one time, it is likely you'll get stopped out. But this is just a difference of one's trading style.
I think his point is his system does not favor a ranging market, not that scalping can't be profitable as you described. In other words, he won't be teaching scalping methods using his system.
  • #36
  • Edited Jul 29, 2007 12:15am Jul 28, 2007 11:09pm | Edited Jul 29, 2007 12:15am
Quoting ukutrader
I disagree. That trend break can go against you in this pair so easily. Trading ranging markets in shorter timeframes can make you money if things are done correctly. You can reach 200 pips in a short period of time. It is easier to predict the next price movement in the ranging markets. When you try to spot a big move like 200 pips movement at one time, it is likely you'll get stopped out. But this is just a difference of one's trading style.

Hi Ukutrader, Glad to see you on this thread. This is soley depends on your strategy. I dont trade on ranging markets. You may collect 200 pips on a ranging markets but @ what risk?. Say if you make 5 trades on 2% risk per trade to collect 200 pips your are exposing your account 5 times for risks compared to mine only once. My 200 pips are far more superior than your 200 pips because I only risked 2% to make 200 pips but you risked 10% to make 200 pips. hope you get the point. Good practise of forex trading is all about maximum gains with minimum risk exposure just like any other liquid investment.
  • #37
  • Jul 28, 2007 11:12pm Jul 28, 2007 11:12pm
Quoting Al_Have1
I think his point is his indicator interpretation does not work well in a ranging market, not that scalping can't be profitable as you described. In other words, he won't be teaching scalping methods using his system.
You are correct. This is one reason I dont trade in ranging markets since I follow larger timeframs like daily, 4hr and 1 hr. But I also could trade on ranging markets by breaking my timeframes down to 1hr 10mis and 5 mins . But I have chosen not to do so..
  • #38
  • Jul 28, 2007 11:16pm Jul 28, 2007 11:16pm
Quoting Venturess
Auslanco, I have spent a good part of today taking notes and studying the charts you posted in the other thread in the last few days.

I'm back-testing using your methods and trying to set up the VT charts.
Thats good to hear Venturess .. all the best
  • #39
  • Jul 28, 2007 11:21pm Jul 28, 2007 11:21pm
Quoting auslanco
Below 50 but pointing up
Ready for a retracement up to 5 SMA
Anyone know what this indicator is in MT4 ?
Tried the momentum indicator listed in MT4 but does not have same scale as the one shown by Auslanco.

Looked through the old thread and still no idea.
  • #40
  • Edited 11:35pm Jul 28, 2007 11:23pm | Edited 11:35pm
Quoting ukutrader
I disagree. That trend break can go against you in this pair so easily. .
I would like to point out that, There are only about 10% of the trend breaks ever gone against me on my current trading startegy I follow. Only other times it has hit my 2% stopp loss was when I pull the trigger prematualy or when I go with my gut feeling. If you have a rock solid strategy it always works in your faour.
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