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

  • #3,141
  • Aug 2, 2007 11:21am Aug 2, 2007 11:21am
Quoting trader8686
I don't have 5SMA, like to know the retrace number to get back in?
Mine are 242.25 on MT and 242.18 on VT if that helps
  • #3,142
  • Aug 2, 2007 11:23am Aug 2, 2007 11:23am
Quoting trader8686
I don't have 5SMA, like to know the retrace number to get back in?
Trader, please, please, please go take the school at babypips before you trade live. Don't get mad at me, but many here agree with me. If you can't draw a 5 SMA, you should not be trading. I demoed for a year and then followed the same pattern as you have been reading about. Now I am making money. Mostly because I learned when NOT to trade. I have not made any trades this week, yet. There are opportunities but it doesn't fit my trading style.

Also, for those who ask "are we long or short". The answer could be "neither". I use this forum as a tool to guage uncertainty in the GJ market.
  • #3,143
  • Aug 2, 2007 11:27am Aug 2, 2007 11:27am
Quoting ovidiu
Mine are 242.25 on MT and 242.18 on VT if that helps
All right, just got my 5SMA set up on MT4.
When you find 242.25, what TF (time frame) are you looking at?
(just want to verify it on mine)
  • #3,144
  • Aug 2, 2007 11:28am Aug 2, 2007 11:28am
Quoting karmostaji
I don't use any of A's indicators except the 5SMA which is a great MA to use for retracement, support now is 242.70 (38.2 fibo) but a retrace to 5SMA is possible if it doesnt have the power to go higher at the moment

Great call and tip on using the 5SMA as a retracement indicator! I continue to learn from your posts and discussions on TA indicators. I see that many here rely on the 4H and 1HR (and Daily) price chart.

I've noticed that the 5SMA gives a different figure per price chart. Which TF do you trade off for placing a stop loss and for re-entry with this pair?

I'm trying to simplify the complex as I learn.

thanks for any further discussion,

How did you do on your exam?

Dr. D.

sleepinginadumpster
  • #3,145
  • Aug 2, 2007 11:32am Aug 2, 2007 11:32am
lets see if the price goes retraces to the 5sma..I might enter long when it hits that point...
  • #3,146
  • Aug 2, 2007 11:33am Aug 2, 2007 11:33am
Quoting Al_Have1
Trader, please, please, please go take the school at babypips before you trade live. Don't get mad at me, but many here agree with me. If you can't draw a 5 SMA, you should not be trading. I demoed for a year and then followed the same pattern as you have been reading about. Now I am making money. Mostly because I learned when NOT to trade. I have not made any trades this week, yet. There are opportunities but it doesn't fit my trading style.

Also, for those who ask "are we long or short". The answer could be "neither". I use this forum as a tool to guage uncertainty in the GJ market.
I think he put it wrong, many here make there on analyses and they came up a way or another but it also fells good when your not alone with your results that's my case at least, that's why we all miss Asulanco not for his trading signals but more for the certanty that he gives when he says hold your position or something like this, the only way to learn as I see it is to learn while you trade, interpret the signals while they are given.
Anyway I am trading demo so I guess is not the same thing if your doing it live but still I fell I learned a lot from Asulanco K and all the others that share their results on the thread
  • #3,147
  • Aug 2, 2007 11:34am Aug 2, 2007 11:34am
Quoting trader8686
All right, just got my 5SMA set up on MT4.
When you find 242.25, what TF (time frame) are you looking at?
(just want to verify it on mine)
1H that's the tf that gives the signal to go short or long, in this case it was 4H but any way the price retraces to 1H 5SMA or so Asulanco says, he he was right almost every time
  • #3,148
  • Aug 2, 2007 11:35am Aug 2, 2007 11:35am
Quoting fourxtrader
Great call and tip on using the 5SMA as a retracement indicator! I continue to learn from your posts and discussions on TA indicators. I see that many here rely on the 4H and 1HR (and Daily) price chart.

I've noticed that the 5SMA gives a different figure per price chart. Which TF do you trade off for placing a stop loss and for re-entry with this pair?

I'm trying to simplify the complex as I learn.

thanks for any further discussion,

How did you do on your exam?

Dr. D.

sleepinginadumpster
Thanks Dr. D.

I rely mostly on 4h and daily, I use 1hr chart for entry only ("A" said the same thing), smaller TF's have a lot of noise so I try to avoid it.

When a retracement starts, I first look at the 5min chart 5SMA, if that gets hit, i look at 15min 5SMA, up to the 1hr and sometimes 4hr 5SMA, i wait and see which one holds and then enter in the trend position again.

As for stop-loss and TP's, I use TLs, Fibo levels and S/R levels.. using 4h and daily charts

Edit - Auslanco said that the true price is the retracement to the 5SMA on the 1hr, that's the main and most important one!
Trade what you see, not what you think.
  • #3,149
  • Aug 2, 2007 11:41am Aug 2, 2007 11:41am
Quoting ovidiu
1H that's the tf that gives the signal to go short or long, in this case it was 4H but any way the price retraces to 1H 5SMA or so Asulanco says, he he was right almost every time
Thanks, and learning.
  • #3,150
  • Aug 2, 2007 11:44am Aug 2, 2007 11:44am
[quote=karmostaji;1521443]Thanks Dr. D


When a retracement starts, I first look at the 5min chart 5SMA, if that gets hit, i look at 15min 5SMA, up to the 1hr and sometimes 4hr 5SMA, i wait and see which one holds and then enter in the trend position again.



Very nice of you to share that, only if I had knew that earlier, anyway is always the next time
  • #3,151
  • Aug 2, 2007 11:45am Aug 2, 2007 11:45am
[quote=ovidiu;1521463]
Quoting karmostaji
Thanks Dr. D


When a retracement starts, I first look at the 5min chart 5SMA, if that gets hit, i look at 15min 5SMA, up to the 1hr and sometimes 4hr 5SMA, i wait and see which one holds and then enter in the trend position again.



Very nice of you to share that, only if I had knew that earlier, anyway is always the next time

NICE!!!!
  • #3,152
  • Aug 2, 2007 11:48am Aug 2, 2007 11:48am
Quoting karmostaji
Thanks Dr. D.

I rely mostly on 4h and daily, I use 1hr chart for entry only ("A" said the same thing), smaller TF's have a lot of noise so I try to avoid it.

When a retracement starts, I first look at the 5min chart 5SMA, if that gets hit, i look at 15min 5SMA, up to the 1hr and sometimes 4hr 5SMA, i wait and see which one holds and then enter in the trend position again.

As for stop-loss and TP's, I use TLs, Fibo levels and S/R levels.. using 4h and daily charts

Edit - Auslanco said that the true price is the retracement to the 5SMA on the 1hr, that's the main and most important one!
Hey K,
Just a question..how do u decide when the retracement reaches the 5sma that its gonna go back up or down? Thanks
  • #3,153
  • Aug 2, 2007 11:49am Aug 2, 2007 11:49am
Top of this move will be 243.30-243.60 before close today... I believe.
After this retrace which could go as low as 242.20
will check back in tonight to update

Of course if Dow has 200 point day all bets are off

Still long from 238 Good Luck traders
  • #3,154
  • Aug 2, 2007 11:50am Aug 2, 2007 11:50am
soon enough every on will ask you diffrent stuff and PM you, I know I will... then you will go also like Asulanco did
  • #3,155
  • Aug 2, 2007 11:52am Aug 2, 2007 11:52am
Quoting xlr8
Hey K,
Just a question..how do u decide when the retracement reaches the 5sma that its gonna go back up or down? Thanks
I don't know how to answer this question, I guess from experience and watching price action, you'll learn as you grow keep learning
Trade what you see, not what you think.
  • #3,156
  • Aug 2, 2007 11:53am Aug 2, 2007 11:53am
Quoting ovidiu
soon enough every on will ask you diffrent stuff and PM you, I know I will... then you will go also like Asulanco did
I'm not a guru nor an expert, I honestly consider myself a newbie just like the rest of you.. I will answer whatever I know and help everybody as much as I can

I learned a lot from this forum, I must give back ya know
Trade what you see, not what you think.
  • #3,157
  • Aug 2, 2007 11:55am Aug 2, 2007 11:55am
Quoting ovidiu
soon enough every on will ask you diffrent stuff and PM you, I know I will... then you will go also like Asulanco did

That is so true....maybe we should have a knowledge management database somewhere so folks can just look up for certain items for eg. info on a trading method and the common questions that ppl ask.
  • #3,158
  • Aug 2, 2007 11:57am Aug 2, 2007 11:57am
Quoting xlr8
That is so true....maybe we should have a knowledge management database somewhere so folks can just look up for certain items for eg. info on a trading method and the common questions that ppl ask.
If some of the traders would just use the 'search' button and do some reading in the beginner section of this forum, we won't have as many very very basic questions, I hope new traders would spend their time reading a lot of information first before trying to trade, let alone making money.
Trade what you see, not what you think.
  • #3,159
  • Aug 2, 2007 11:58am Aug 2, 2007 11:58am
Quoting xlr8
That is so true....maybe we should have a knowledge management database somewhere so folks can just look up for certain items for eg. info on a trading method and the common questions that ppl ask.
some one had the idea to gather anything relevant to A's strategy and paste it in a word document, i am plannig to do the same(that is by going to thread allover again), after i will finish it we can ask smjones to put it on the first page of the thread that would be the best solution as I see it
  • #3,160
  • Aug 2, 2007 11:59am Aug 2, 2007 11:59am
Quoting karmostaji
I don't know how to answer this question, I guess from experience and watching price action, you'll learn as you grow keep learning
Thanks K.

Aus did mention it the first I joined the daily G/Y thread. I should have written it down. I think that if the indicators are pointing down in the 1 hr timeframe but in the 4hr timeframe the indicators are pointing up, when the price reaches the 5sma in the 1hr chart then that means that is the time to enter another long.

Confusing ......any comment people?
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