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

  • #5,921
  • Aug 9, 2007 8:36pm Aug 9, 2007 8:36pm
Quoting auslanco
You may find that system called Level stop Reverse on the very first post which you can download to your VT.
  • #5,922
  • Aug 9, 2007 8:38pm Aug 9, 2007 8:38pm
Quoting fourxtrader
Correct me if I'm way off in quoting you...
acouple week ago you mentioned you were a trend trader and would seek larger moves with numbers of pips ranging in the 200 - 300+ per trade and might only find 5 - 8 of these per month with this pair.

Did we just experience several of 'those months' all wrapped up in a few short weeks.

there were only 4 trades so far happened on this strategy. All other trades were going off the strategy
  • #5,923
  • Aug 9, 2007 8:46pm Aug 9, 2007 8:46pm
Hi Auslanco,

237.70 is the lowest this pair reached during this downfall. Will this number be of any significance in terms of support as it goes down.

Thanks
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #5,924
  • Aug 9, 2007 8:47pm Aug 9, 2007 8:47pm
Hi Aus,

Do you have a method with your system for determining if it is safe to enter a trade once the market has already started its trend and has perhaps been going for a while.

For example do you wait for a pullback on the 5m chart and then a resumption of the trend.

There seem to be lots of times when I, and I am sure others, turn on our pc's only to see that a good move has already started and we're left wondering if it is about to end or should we just jump in and cross our fingers.

Regards

Mike
  • #5,925
  • Aug 9, 2007 8:53pm Aug 9, 2007 8:53pm
the 15 min SI has just crossed over.
  • #5,926
  • Aug 9, 2007 9:03pm Aug 9, 2007 9:03pm
Quoting TradeStar
Hi Auslanco,

237.70 is the lowest this pair reached during this downfall. Will this number be of any significance in terms of support as it goes down.

Thanks
Yes!
You probably have your chart set to the "ask" price.
I have mine set to the "bid" price.
23760, there was probably a 10 pip spread at the time.
That price was last weeks low. If it breaks below that price, it could continue down.
  • #5,927
  • Aug 9, 2007 9:03pm Aug 9, 2007 9:03pm
hey aus is there a way to add a audible signal when the SI crosses?
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #5,928
  • Aug 9, 2007 9:06pm Aug 9, 2007 9:06pm
Quoting Mysticdiver
Yes!
You probably have your chart set to the "ask" price.
I have mine set to the "bid" price.
23760, there was probably a 10 pip spread at the time.
That price was last weeks low. If it breaks below that price, it could continue down.
Thanks
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #5,929
  • Aug 9, 2007 9:06pm Aug 9, 2007 9:06pm
Quoting auslanco
You may find that system called Level stop Reverse on the very first post which you can download to your VT.
...and just to make things a little more annoying for you... : I have the Level Stop and Reverse on my charts but are you able to give a brief explanation of what it is doing? And what the alarm is signalling.

Thanks

Mike
  • #5,930
  • Aug 9, 2007 9:07pm Aug 9, 2007 9:07pm
I can totally see what you mean about oversold, Aus. I mean, taking 4 hours for example, it looks absolutely inevitable that there will imminently be a massive correction upwards .

What I find puzzling, though, is that when I look at longer-term charts, it just doesn't look like it's going to rise... rather the opposite.
  • #5,931
  • Aug 9, 2007 9:08pm Aug 9, 2007 9:08pm
Quoting newjersey24
the 15 min SI has just crossed over.
Wait for the confirmation bar
  • #5,932
  • Aug 9, 2007 9:10pm Aug 9, 2007 9:10pm
Quoting MikeW
Hi Aus,

Do you have a method with your system for determining if it is safe to enter a trade once the market has already started its trend and has perhaps been going for a while.

For example do you wait for a pullback on the 5m chart and then a resumption of the trend.

There seem to be lots of times when I, and I am sure others, turn on our pc's only to see that a good move has already started and we're left wondering if it is about to end or should we just jump in and cross our fingers.

Regards

Mike


I have tried this many times and burnt my finger over and over again.. These were the trades I do off my strategy. More losses than winners.
  • #5,933
  • Aug 9, 2007 9:12pm Aug 9, 2007 9:12pm
Quoting MikeW
...and just to make things a little more annoying for you... : I have the Level Stop and Reverse on my charts but are you able to give a brief explanation of what it is doing? And what the alarm is signalling.

Thanks

Mike
I will post some information to my strategy thread, hopefully this weekend
  • #5,934
  • Aug 9, 2007 9:12pm Aug 9, 2007 9:12pm
Quoting auslanco
Wait for the confirmation bar
could you help me on this one? using mt4 but can't seem to find this indicator....does it have it?
  • #5,935
  • Aug 9, 2007 9:14pm Aug 9, 2007 9:14pm
Quoting Richardj
I can totally see what you mean about oversold, Aus. I mean, taking 4 hours for example, it looks absolutely inevitable that there will imminently be a massive correction upwards .

What I find puzzling, though, is that when I look at longer-term charts, it just doesn't look like it's going to rise... rather the opposite.
This is just a retracement from the yesterdays rally.. not a trend reversal. Every single big move is followed by a retracement.
  • #5,936
  • Aug 9, 2007 9:16pm Aug 9, 2007 9:16pm
Quoting khmr
could you help me on this one? using mt4 but can't seem to find this indicator....does it have it?
Sorry mate.. I have never used MT4 and dont know anything about it. May be someone else can help you out on this issue.
  • #5,937
  • Aug 9, 2007 9:16pm Aug 9, 2007 9:16pm
15M SI crossed over. 15M momentum crossed 0 from below
  • #5,938
  • Aug 9, 2007 9:17pm Aug 9, 2007 9:17pm
hope you guys enterd long for the 15 min retraco.
I'm Long from

238.40

TP 240
SL 237.79
  • #5,939
  • Aug 9, 2007 9:20pm Aug 9, 2007 9:20pm
Quoting auslanco
hope you guys enterd long for the 15 min retraco.
I'm Long from

238.40

TP 240
SL 237.79

did you get your entry after the 15M confirmation bar ? im long at 238.60 after the 15m confirmation bar formed.
  • #5,940
  • Aug 9, 2007 9:20pm Aug 9, 2007 9:20pm
Quoting osamajamal
http://www4.0zz0.com/2007/08/09/22/38896029.gif
This is GJ for me ...

http://i11.tinypic.com/68ay1c7.jpg
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