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

  • #1,481
  • Jul 31, 2007 12:24am Jul 31, 2007 12:24am
Quoting frank99
YOu seem so calm. The rest of us (at least myself) are sweating. :-)



Frank
LOL... you will get use to it..This is GBP/JPY the most volatile pair in the world... 100 pip swings are very normal.. When you a hve good money management and only risking 2% of your capital and you usual profit target is 4-6% per trade...you only need 50% of good trades to make a fortune
  • #1,482
  • Jul 31, 2007 12:25am Jul 31, 2007 12:25am
open some more longs on the bottom before the bounce back...
  • #1,483
  • Jul 31, 2007 12:26am Jul 31, 2007 12:26am
Auslanco,

Thanks for the words of encouragement. That's what I'm hoping to learn by following and participating in this thread! Thanks!


Frank


Quoting auslanco
LOL... you will get use to it..This is GBP/JPY the most volatile pair in the world... 100 pip swings are very normal.. When you a hve good money management and only risking 2% of your capital and you usual profit target is 4-6% per trade...you only need 50% of good trades to make a fortune
  • #1,484
  • Jul 31, 2007 12:27am Jul 31, 2007 12:27am
Quoting glenn5t
open some more longs on the bottom before the bounce back...
Glennn Grrr
  • #1,485
  • Jul 31, 2007 12:27am Jul 31, 2007 12:27am
Quoting stevenou
Sweating? Hah, well that's an understatement...
It's just playing with you, showing you who's boss.
  • #1,486
  • Jul 31, 2007 12:28am Jul 31, 2007 12:28am
Quoting auslanco
LOL... you will get use to it..This is GBP/JPY the most volatile pair in the world... 100 pip swings are very normal.. When you a hve good money management and only risking 2% of your capital and you usual profit target is 4-6% per trade...you only need 50% of good trades to make a fortune
Thats a great tip Aus! Thanks for keeping up with your market analysis been enjoying it. If the 5sma support is broken would you be looking at a trend reversal?
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  • #1,487
  • Jul 31, 2007 12:28am Jul 31, 2007 12:28am
Just don't go another 100 pips south GBPJPY...I might have to hedge then.
  • #1,488
  • Jul 31, 2007 12:31am Jul 31, 2007 12:31am
When your trading of the higher time frames always remember if your with the trend....the pair will always return to the trend after news...

  • #1,489
  • Jul 31, 2007 12:32am Jul 31, 2007 12:32am
Where does everyone have their stops for long positions?


Thanks,


Frank
  • #1,490
  • Jul 31, 2007 12:33am Jul 31, 2007 12:33am
It went down to that fib level and expansion I said about earlier (well it was actually 1 pip off)
  • #1,491
  • Jul 31, 2007 12:34am Jul 31, 2007 12:34am
I take 75% of the daily average.....but I know everyone has there way...
  • #1,492
  • Jul 31, 2007 12:34am Jul 31, 2007 12:34am
Quoting LiveLoud
Thats a great tip Aus! Thanks for keeping up with your market analysis been enjoying it. If the 5sma support is broken would you be looking at a trend reversal?
NP I spot the trends on 4HR chats... My 4hr strength indicator or monentum hasnt even moved from that dip...
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  • #1,493
  • Jul 31, 2007 12:36am Jul 31, 2007 12:36am

aus...any comment about GU?

"Analysis Is Hard But Trade Is Easy"
  • #1,494
  • Jul 31, 2007 12:37am Jul 31, 2007 12:37am
Quoting glenn5t
When your trading of the higher time frames always remember if your with the trend....the pair will always return to the trend after news...


  • #1,495
  • Jul 31, 2007 12:41am Jul 31, 2007 12:41am
You have to have big ca hones to trade this pair.
  • #1,496
  • Jul 31, 2007 12:42am Jul 31, 2007 12:42am
Everyone it about to drop hard and fast. I would say the 239.00 area
  • #1,497
  • Jul 31, 2007 12:43am Jul 31, 2007 12:43am
Quoting auslanco
are u still holding ur long positions? do u believe it is stillgoibg up?
  • #1,498
  • Jul 31, 2007 12:45am Jul 31, 2007 12:45am
Quoting auslanco
GBP/JPY - Pivot: 240.27 Support 1: 239.11 Support 2: 237.17 Resist 1: 242.21 Resist 2: 243.37 200 Day MA: 235.49

Seems to be useful information about now.
  • #1,499
  • Jul 31, 2007 12:47am Jul 31, 2007 12:47am
Quoting auslanco
Glennn Grrr
Hey just got back in to this forum - had a very good nights sleep. Whats in play here!
  • #1,500
  • Jul 31, 2007 12:47am Jul 31, 2007 12:47am
You newbies should stop panicking and getting all worried, if you are using good money management and risking only 1 or 2 percent, there is no need to worry.

If you don't know what is money management, you should go to the beginners section and spend all day READING and LEARNING it because that is far more important than anything else in trading.
Trade what you see, not what you think.
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