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

  • #3,221
  • Aug 2, 2007 3:24pm Aug 2, 2007 3:24pm
Quoting kunlex1982
what next for GJ in the market
GJ is stalled on the 38.2 fib @ 242.82. Should breakout up to continue trend.
  • #3,222
  • Aug 2, 2007 3:25pm Aug 2, 2007 3:25pm
Quoting bballfan31
I don't know. Give it a try Tell me something
What are your charts telling you
  • #3,223
  • Aug 2, 2007 3:25pm Aug 2, 2007 3:25pm
Come on Kunlex....anything.....Right or wrong don't matter
Great way to learn
  • #3,224
  • Aug 2, 2007 3:29pm Aug 2, 2007 3:29pm
Quoting kunlex1982
what next for GJ in the market
Hit and run dude....posted and took off
  • #3,225
  • Aug 2, 2007 3:31pm Aug 2, 2007 3:31pm
Quoting bballfan31
I have moved my stop on long from 242 to 242.60

Moved mine to 241.91.... and exited, scalping long after the last two draw downs.

Now I'll wait and go back to.........

sleepinginadumpster
  • #3,226
  • Aug 2, 2007 3:32pm Aug 2, 2007 3:32pm
Quoting Al_Have1
GJ is stalled on the 38.2 fib @ 242.82. Should breakout up to continue trend.
Also...FYI...Tues GJ tested the 38.2 fib. It failed and ret 500+ pips.
  • #3,227
  • Aug 2, 2007 3:33pm Aug 2, 2007 3:33pm
i want to know the direction in which people using technical are going
  • #3,228
  • Aug 2, 2007 3:35pm Aug 2, 2007 3:35pm
Quoting bballfan31
I have moved my stop on long from 242 to 242.60
and TP you said something like 243.20?
  • #3,229
  • Aug 2, 2007 3:36pm Aug 2, 2007 3:36pm
Quoting bballfan31
Come on Kunlex....anything.....Right or wrong don't matter
Great way to learn

Still learning the charts (basics). Showing that it might go up but this is a crazy pair, the beast as I like to call it. Can't tame it but rather study it's moves (in every aspect news, trend, etc.) and follow it.
Humble Lifetime Member
  • #3,230
  • Aug 2, 2007 3:37pm Aug 2, 2007 3:37pm
If someone wants to know more about EFX Group, you can visit this link for more information.

http://www.forexfactory.com/showthread.php?t=10002

Justin would be happy to help.

Now please get back to the discussion.
  • #3,231
  • Aug 2, 2007 3:40pm Aug 2, 2007 3:40pm
Quote
Now please get back to the discussion.
Thank you!
  • #3,232
  • Aug 2, 2007 3:41pm Aug 2, 2007 3:41pm
Quoting Al_Have1
GJ is stalled on the 38.2 fib @ 242.82. Should breakout up to continue trend.
NY closes in 20 minutes. Asian session, Tokyo, opens in 3 hours or so.
Gone to a better place
  • #3,233
  • Aug 2, 2007 3:42pm Aug 2, 2007 3:42pm
Quoting Ash
Yeah, I'm with MB and they do have 1/2 pip buy and 1/2 sell USD Currencies and 1 Pip BUY and 1 pip sell for exotic currencies (e.g. GBY/JPY, CHY/JPY, EUR/CAD, etc.....) but here is the drawback, They give you little or nothing carry trade interest if you are long and if you are short, they debit your account the full amount.

Hope that helps out. Also, they execution is pretty quick but beware during fast market conditions, you may or may get your order executed.


Thanks for your perspective. Inspite of these negatives, do you still like the broker? I'm not sure that EFXGroup and MBTrading are identical on all matters. So I really don't know at this point. Then, is there any one perfect broker? Pluses and minuses with all.... so it's a matter of preference and liking.

Order execution or other issues...

Isn't that the case with many brokers. Order execution is sometimes iffy in fast markets. I don't have an opinion yet on the carry trade interest comparisons as I still limit most of my postions to shorter time periods while still learning.

If I'd only let some winners run then I might not be...

sleepinginadumpster
  • #3,234
  • Aug 2, 2007 3:44pm Aug 2, 2007 3:44pm
Quoting smikester
NY closes in 20 minutes. Asian session, Tokyo, opens in 3 hours or so.


SO???
  • #3,235
  • Aug 2, 2007 3:49pm Aug 2, 2007 3:49pm
Quoting fourxtrader
Thanks for your perspective. Inspite of these negatives, do you still like the broker? I'm not sure that EFXGroup and MBTrading are identical on all matters. So I really don't know at this point. Then, is there any one perfect broker? Pluses and minuses with all.... so it's a matter of preference and liking.

Order execution or other issues...

Isn't that the case with many brokers. Order execution is sometimes iffy in fast markets. I don't have an opinion yet on the carry trade interest comparisons as I still limit most of my postions to shorter time periods while still learning.

If I'd only let some winners run then I might not be...

sleepinginadumpster
The truth is, i have been seriously contemplating about moving some where else. The interest on one GBP/JPY lot is roughly about $26.00 per day. That's a lot of money when you do the math (on a leveraged account). Other than that, I think they are ok. They are basically no frills (no charts / graphs, etc.).

An individual has to weigh the pro's and con's. I still might utlize them for day trading and utilize someone else for carry trades. Haven't decided yet. Good luck!
Humble Lifetime Member
  • #3,236
  • Aug 2, 2007 3:51pm Aug 2, 2007 3:51pm
tHIS NOT A TRADE RECOMMENDATION NOT NOT NOT A RECOMMENDATION

Now I don't know jack (I guess alot) But.......I have a feeling that if we can hold 63 here on the current candle the Aussies may come in and give me the 243.30-243.60 Im looking for. I hope the higher end.
200 MA on 1 hr chart is 243.62. If achieved I believe that we will get a significant bounce. In this particular market (the night before NFP) I do not think that there will be a strong enough push to go thru this level. When this pair ranges like today the 200 plays very strong support or resistance.
And this is IF we get there. Of course the longer it takes the lower the 200 becomes and that will be your bounce. Should be a nice short for those of you who short this pair (the brave ones). I DO NOT.... At this point I would say my initial target 241.21 then 240.85 and finally 239.84.

But I really do not wxpect a whole bunch of movement tonight.

AND THEN AGAIN I COULD BE FULL OF CRAP
  • #3,237
  • Aug 2, 2007 3:53pm Aug 2, 2007 3:53pm
Quoting fourxtrader
Thanks for your perspective. Inspite of these negatives, do you still like the broker? I'm not sure that EFXGroup and MBTrading are identical on all matters. So I really don't know at this point. Then, is there any one perfect broker? Pluses and minuses with all.... so it's a matter of preference and liking.

Order execution or other issues...

Isn't that the case with many brokers. Order execution is sometimes iffy in fast markets. I don't have an opinion yet on the carry trade interest comparisons as I still limit most of my postions to shorter time periods while still learning.

If I'd only let some winners run then I might not be...

sleepinginadumpster
MB is the Broker and EFX is the introducing broker. The introducing broker might offer a few incentives whereas MB does not. You would have research into EFX.
Humble Lifetime Member
  • #3,238
  • Aug 2, 2007 3:54pm Aug 2, 2007 3:54pm
Quoting magiclino
Thank you!

sorry.....

Sometimes listening to where a person is putting their stop gets a little monotonous too.

I have a question... is this thread limited to technical analysis... or can other trading strategies and even discussions on fundamentals be permitted.

...and sorry again for wasting the space with an apology and a question.

Yes, you are correct.... I think.... but didn't you see how I tied in the discussion with the GBPJPY. GBPJPY - 1 pip spread who wouldn't give their last pip for such a find.

Now would someone show me a broker that will let me into a trade and out and back in and back out with the GBPJPY for less than that 8 pip spread previously mention and actually couple it with a very favorable execution speed which too if delayed can further add to the spread that some broker charge.

stillsleepinginadumpster
  • #3,239
  • Edited 4:02pm Aug 2, 2007 3:56pm | Edited 4:02pm
Quoting Ash



Still learning the charts (basics). Showing that it might go up but this is a crazy pair, the beast as I like to call it. Can't tame it but rather study it's moves (in every aspect news, trend, etc.) and follow it.
Not a problem I'm still learning too but
if ya can't read a chart ya can't trade it take a gander at it and guess
If your ( not targeting anyone it's a general statement) new you probably shouldn't be trading this pair
Try CADYEN ,AUDYEN ,EURUSD,
GBPCHF ONE OF THE BEST BEHAVING PAIRS TO TRADE TECHNICALLY.
This pair will amaze you at how well it behaves. Very good pair to practice reading the charts. This pair forget it all over the place
  • #3,240
  • Aug 2, 2007 3:58pm Aug 2, 2007 3:58pm
Quoting bballfan31
tHIS NOT A TRADE RECOMMENDATION NOT NOT NOT A RECOMMENDATION

Now I don't know jack (I guess alot) But.......I have a feeling that if we can hold 63 here on the current candle the Aussies may come in and give me the 243.30-243.60 Im looking for. I hope the higher end.
200 MA on 1 hr chart is 243.62. If achieved I believe that we will get a significant bounce. In this particular market (the night before NFP) I do not think that there will be a strong enough push to go thru this level. When this pair ranges like today the 200 plays very strong support or resistance.
And this is IF we get there. Of course the longer it takes the lower the 200 becomes and that will be your bounce. Should be a nice short for those of you who short this pair (the brave ones). I DO NOT.... At this point I would say my initial target 241.21 then 240.85 and finally 239.84.

But I really do not wxpect a whole bunch of movement tonight.

AND THEN AGAIN I COULD BE FULL OF CRAP
I doubt seriously that you are full of crap on this thought.
I have been watching that 200 MDA and thinking similar thoughts.
I thought we had a chance at the 244 where we have overlapping FIBs but also have a line on my chart at 243.31 as more resistance.

So, if the 200 MDA doesn't stop it, those FIBs really have a good shot at doing so. I am glad to se your numbers, as I had a target of 241.
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