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

  • #2,161
  • Jul 31, 2007 4:27pm Jul 31, 2007 4:27pm
Look at the daily bars, I don't think it will continuing going back and up.
  • #2,162
  • Jul 31, 2007 4:30pm Jul 31, 2007 4:30pm
Sometimes you lose and sometimes you win.....

But, the most hateful situation is when the market crashes bigtime and you are the bagholder and what a pitiful experience to cover your losses and to see the market right back on you as If the god was angry upon me and reminds me of all the small sins i must have committed in my life that might be have resulted into this huge loss. and the worst nightmare is when you keep thinking of all the good things I could have done had i not lost it....;-)

Been there, Done that........
  • #2,163
  • Jul 31, 2007 4:31pm Jul 31, 2007 4:31pm
BOOM! waiting for the new one (was in the process of cropping the image but i guess our trusty mods beat me to it)

http://www.stuffucanuse.com/Odds_and...ing-rocket.png
"it doesn't come any sharper than this!"
  • #2,164
  • Jul 31, 2007 4:31pm Jul 31, 2007 4:31pm
Quoting chonpz
everytime auslanco sleeps everything goes to hell
http://www.forexfactory.com/showpost...postcount=2090

Nothing went to hell at all. You guys are just relying too much on another person's opinion... You must get educated and make these decisions for your self the clues were there... This is not auslanco's fault. It is the responsibility of each and every trader to become educated about how to trade and not to blindly follow.
  • #2,165
  • Jul 31, 2007 4:33pm Jul 31, 2007 4:33pm
Guys,

This channel has been broken and been tested and is going down. You need to put some lines on your charts and keep an eye on them, and don't rely on someone elses calls all the time. NOTHING and I mean NOTHING is set in stone in the market. It does what it wants and that is that.

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: g-j.jpg Size: 70 KB
  • #2,166
  • Jul 31, 2007 4:34pm Jul 31, 2007 4:34pm
But, thanks God, we have already finished a big retracement, look at the daily chart.
  • #2,167
  • Jul 31, 2007 4:35pm Jul 31, 2007 4:35pm
Quoting trader8686
Thanks.
I may not be the right person to give advice following my confession, but you should hedge since you can collect the interest and the GY's volatility is likely to bring price back to you not too far in the future.
If you do though and have not done so or much before, be very careful when trying to get out of the hedge. Although if your leverage is low you should be ok.
Consistency and patience is everything
  • #2,168
  • Jul 31, 2007 4:36pm Jul 31, 2007 4:36pm
Quoting trader8686
But, thanks God, we have already finished a big retracement, look at the daily chart.
IT AINT OVER TILL THE FAT LADY FALLS -
  • #2,169
  • Jul 31, 2007 4:37pm Jul 31, 2007 4:37pm

considering to close but i still wanna see how much it pullback

Quoting trader8686
Thanks.

"Analysis Is Hard But Trade Is Easy"
  • #2,170
  • Jul 31, 2007 4:37pm Jul 31, 2007 4:37pm
[quote=Geldmeister;1518170]Apologies in advance for an unproductive and rambling post, but I need to get my frustration, anger and despair of my chest and as most of you will appreciate have no one to talk to about FX in my life. I also like to warn other newbies in the process.

I just had the worst day in my 1 year trading career, but if I hadn't been so reckless and stupid it would have been just a disappointing day rather than the disastrous one it became for me. Today I lost > 40% of my equity! It may not be the end but a huge setback in every way. I would have expected more from myself at this stage.

Heart goes out to you mate, I lost about 120 pips or so today, that is inclusive of being up about 40 initially. Part of that was due to my PC dropping as I was about to make a buy then it just dropped & I upgraded yesterday, so I am well & trully bummed, being that it was just over 24 hours old & quad core duo.

Very brave & big of you to admit that you over leveraged & put more than your 2% at risk, & I am sure you are not the only one today on this forum & elsewhere. I am one, but only 2.xxx %; additionally not wagging your finger at Auslanco, as he states time & time again about your money management.

There is a lesson there, but a question people need to ask themselves is "not how much you will gain"(greed/ a quick buck) is "how much you will lose if it goes the opposite way." Think about what you will lose, can you afford to lose 50%. Think about it if you lose 50% of your capital, that's when you then think about proper mm, then it will take even longer to break even.

That is my tuppence worth. Good luck to you gaining your capital back, all the best.

Scott
Le singe est dans l'arbre
  • #2,171
  • Jul 31, 2007 4:39pm Jul 31, 2007 4:39pm
just increase 2% to 3% in the money management . considering market conditions... and then you will have more pips for the stoploss....heh.. sleep well.. tomorrow it will be 300 pips up

i hope
  • #2,172
  • Jul 31, 2007 4:39pm Jul 31, 2007 4:39pm
Quoting Se[V]eN

considering to close but i still wanna see how much it pullback


It will need to retrace to the 5 SMA at some point - just hope the SL holds...
  • #2,173
  • Jul 31, 2007 4:40pm Jul 31, 2007 4:40pm
Quoting Se[V]eN

considering to close but i still wanna see how much it pullback




Assuming we have bottomed now, we should (hopefully) retrace to at least 241. I closed all my shorts, and I want my one long to retrace some.

Of course, the market could do any damn thing, and it wouldn't surprise me.
  • #2,174
  • Jul 31, 2007 4:42pm Jul 31, 2007 4:42pm
My 4H still not falls of the trendline, but my 1H, 30M, 15M they all fall out of trendline.
  • #2,175
  • Jul 31, 2007 4:43pm Jul 31, 2007 4:43pm
[quote=hi6hlander;1518225]
Quoting Geldmeister
Apologies in advance for an unproductive and rambling post, but I need to get my frustration, anger and despair of my chest and as most of you will appreciate have no one to talk to about FX in my life. I also like to warn other newbies in the process.

I just had the worst day in my 1 year trading career, but if I hadn't been so reckless and stupid it would have been just a disappointing day rather than the disastrous one it became for me. Today I lost > 40% of my equity! It may not be the end but a huge setback in every way. I would have expected more from myself at this stage.

Heart goes out to you mate, I lost about 120 pips or so today, that is inclusive of being up about 40 initially. Part of that was due to my PC dropping as I was about to make a buy then it just dropped & I upgraded yesterday, so I am well & trully bummed, being that it was just over 24 hours old & quad core duo.

Very brave & big of you to admit that you over leveraged & put more than your 2% at risk, & I am sure you are not the only one today on this forum & elsewhere. I am one, but only 2.xxx %; additionally not wagging your finger at Auslanco, as he states time & time again about your money management.

There is a lesson there, but a question people need to ask themselves is "not how much you will gain"(greed/ a quick buck) is "how much you will lose if it goes the opposite way." Think about what you will lose, can you afford to lose 50%. Think about it if you lose 50% of your capital, that's when you then think about proper mm, then it will take even longer to break even.

That is my tuppence worth. Good luck to you gaining your capital back, all the best.

Scott
Taken like a true man - be happy you'll live to have another day at it.
  • #2,176
  • Jul 31, 2007 4:43pm Jul 31, 2007 4:43pm
Quoting trader8686
But, thanks God, we have already finished a big retracement, look at the daily chart.
I wouldn't count on it Still Plenty of downside If you are long pay attention or pay MR YEN
  • #2,177
  • Jul 31, 2007 4:43pm Jul 31, 2007 4:43pm
Quoting smjones
http://www.forexfactory.com/showpost...postcount=2090

Nothing went to hell at all. You guys are just relying too much on another person's opinion... You must get educated and make these decisions for your self the clues were there... This is not auslanco's fault. It is the responsibility of each and every trader to become educated about how to trade and not to blindly follow.
I totally agree. I lost big time, but I am still in it. I went short after taking a huge loss but hopefully, if the market continues south, I'll be be up in no time. It is easy to blame others for our own mistakes. That is something I learned a long time ago. I say that learn from your mistakes and move on and hopefully never to repeat them.
Humble Lifetime Member
  • #2,178
  • Jul 31, 2007 4:45pm Jul 31, 2007 4:45pm
Quoting Timingy
It will need to retrace to the 5 SMA at some point - just hope the SL holds...
hmmm dont think its going to hold
bracing for more downside!!!!! imho
  • #2,179
  • Jul 31, 2007 4:47pm Jul 31, 2007 4:47pm
Any one still holding A's long call?
  • #2,180
  • Jul 31, 2007 4:47pm Jul 31, 2007 4:47pm
Quoting chonpz
hmmm dont think its going to hold
bracing for more downside!!!!! imho
Here we go - LONGS IN THE HOUSE
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