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

  • #5,981
  • Aug 9, 2007 10:15pm Aug 9, 2007 10:15pm
Quoting Venturess
Here is the link:
http://www.forexfactory.com/showthread.php?t=41509
thx...is the strength indicator same thing as Stoch on mt4? thats the closest thing I can find that resumes this SI
  • #5,982
  • Aug 9, 2007 10:18pm Aug 9, 2007 10:18pm
sorry, found all answers here :

http://www.forexfactory.com/showthread.php?t=41509

also i put it in my sig
  • #5,983
  • Aug 9, 2007 10:26pm Aug 9, 2007 10:26pm
i could be wrong, but i beleive some peolpe abuse this thread as a personal tool and a quick money maker rather than a learning experience. i put my hand up and admit i might have asked a few repetitive questions today and i sincerely apoligise. It does make it hard when this thread is flooded with repetitive questions and the inportant AUS teachings are buried. us newbies realy need to do homework and deep investigating in other post rather than always looking at easy way. we then become to lazy. just my 2 bob worth.
  • #5,984
  • Aug 9, 2007 10:29pm Aug 9, 2007 10:29pm
What's with all of the posts asking people to stop asking questions? If you don't want to answer then don't. yes, they get annoying, but so do the posts that don't say anything, and worse, don't ask questions either. Ignore the posts like most do. If someone wants to respond, that's great. If not, the person will get the hint.

There are so many posts on this thread, it isn't reasonable for someone to go back and read every single one considering 90% is nothing but worthless junk. There is very little content in this thread. I know I've gone back trying to find something and even with a search feature, it's not possible.
  • #5,985
  • Aug 9, 2007 10:31pm Aug 9, 2007 10:31pm
people if you are still long hold it we are almost at the low as long as it does not go below it there is a good chance it will go up for a good ret.
  • #5,986
  • Aug 9, 2007 10:37pm Aug 9, 2007 10:37pm
Quoting frank99
What's with all of the posts asking people to stop asking questions? If you don't want to answer then don't. yes, they get annoying, but so do the posts that don't say anything, and worse, don't ask questions either. Ignore the posts like most do. If someone wants to respond, that's great. If not, the person will get the hint.

There are so many posts on this thread, it isn't reasonable for someone to go back and read every single one considering 90% is nothing but worthless junk. There is very little content in this thread. I know I've gone back trying to find something and even with a search feature, it's not possible.
I went through ALL THE POSTS and filtered the "junk" ones as you say. My ignore list is huge. "There is very little content in this thread" ? I disagree ... this thread is the most information filled thread I have seen in a long time. Many people are just lazy and want the quick fix ... go back and do your homework ... I do not mean to offend anyone ... if you and others got offended .. sorry ... but you gotta put in the effort.

That is all I gotta say.
Cheers!
  • #5,987
  • Aug 9, 2007 10:37pm Aug 9, 2007 10:37pm
lol, i keep adding lots as it moves down hope it pays off.
  • #5,988
  • Aug 9, 2007 10:38pm Aug 9, 2007 10:38pm
Guys,

Try and get your basics down pat. Learn your support and resistence areas (a trendline is a type of s/r). If you are going to trade using charts then this is a must.

You entered the retracement on the 15m chart, set your SL and TP. Before you set them did you look to the left and see what the chart was telling you?

I also entered the retracement, looked to the left and put my TP at 239.20 why? because the chart was telling me that there is resistence at around 239.30.

The more you get into the habit of reading the charts the quicker you will get the feel for it.

Don't just blindly listen and follow, listen and learn. Auslanco and the experienced traders like KT have a lot of little gems to offer and it is good that you are all eager to learn but please try and learn the basic stuff from other threads like the Beginner Q&A and Babypips.com.

We've all been through it so we know what it's like. I've seen very experienced and skilled traders abandon their threads, depriving us of their wonderful insights, simply because they were bombarded with questions that weren't relevent to the level of knowledge the thread was meant for.

I hope this helps some of you to help the rest of us.

Now for some lunch

Regards

Mike
  • #5,989
  • Aug 9, 2007 10:41pm Aug 9, 2007 10:41pm
I didn't say that this thread doesn't have useful information. Quite the contrary. This thread is by far one of the most useful for me as well. I have never been "glued" to a thread as I have with this one. What I said was, you have to read through 10 messages before finding 1 of value (90%).

If someone asks the same questions over and over, no one will respond and they will be forced to look it up or follow the thread more closely.

No matter how many times everyone asks to not ask the same questions that have been answered numerous times, they will still do it regardless. They will miss the posts asking them to stop. I'd hate to see this thread cluttered with these requests that will go unread by those who need to read them.



Quoting ultimate
I went through ALL THE POSTS and filtered the "junk" ones as you say. My ignore list is huge. "There is very little content in this thread" ? I disagree ... this thread is the most information filled thread I have seen in a long time. Many people are just lazy and want the quick fix ... go back and do your homework ... I do not mean to offend anyone ... if you and others got offended .. sorry ... but you gotta put in the effort.

That is all I gotta say.
Cheers!
  • #5,990
  • Aug 9, 2007 10:44pm Aug 9, 2007 10:44pm
Upcoming Data Releases (London Sessions) at 1:00 a.m. EST

Consumer Confidence for July (prior 45.2 est 46)
Housing for July (prior 45 est 46)

any impact ?
  • #5,991
  • Aug 9, 2007 10:45pm Aug 9, 2007 10:45pm
Quoting bmwboyee
lol, i keep adding lots as it moves down hope it pays off.

i would (not) recommand that but if were to do that might want to wait till it start to go the correct direction again

althought i hope it goes back up and you make good pips and so will i
  • #5,992
  • Aug 9, 2007 10:47pm Aug 9, 2007 10:47pm
Quoting webstakes
Upcoming Data Releases (London Sessions) at 1:00 a.m. EST

Consumer Confidence for July (prior 45.2 est 46)
Housing for July (prior 45 est 46)

any impact ?
very little if any may help the retract but again i do not belive it will have any inpact if it does only a little
  • #5,993
  • Aug 9, 2007 10:55pm Aug 9, 2007 10:55pm
We saw this sudden dip beacuse still we are on the 4hr strong momentum cycle. This usually happens the very last hour of a big momentum 4hr timeframe. Thats why you should always catch the retracement from the very start of the 15min confirmation bar and have adequate stop loss,

Always remember.. Catching a retracement means you are going against the trend.You have to be extra cautions at all times.

Still the 30 min and 15 min SI is crossed up.. Therefor we will see 240.20+ area.

You can find the momentum indicator on your VT charts.. settings C 10
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  • #5,994
  • Aug 9, 2007 11:03pm Aug 9, 2007 11:03pm
thanks for coming back to the thread man, these VT charts are going to take sometime getting used to.
  • #5,995
  • Aug 9, 2007 11:04pm Aug 9, 2007 11:04pm
QQE indicator posted on other thread. might be the mt4 SI indicator equiv. test and confirm.
  • #5,996
  • Aug 9, 2007 11:16pm Aug 9, 2007 11:16pm
If you set indicators 5 EMA High and Low, you will see price travels between this channel/span. It acts as support and resistance on almost any time frame. Especially during Asian session on 1 hour timeframe.
  • #5,997
  • Aug 9, 2007 11:24pm Aug 9, 2007 11:24pm
Quoting auslanco
We saw this sudden dip beacuse still we are on the 4hr strong momentum cycle. This usually happens the very last hour of a big momentum 4hr timeframe. Thats why you should always catch the retracement from the very start of the 15min confirmation bar and have adequate stop loss,

Always remember.. Catching a retracement means you are going against the trend.You have to be extra cautions at all times.

Still the 30 min and 15 min SI is crossed up.. Therefor we will see 240.20+ area.

You can find the momentum indicator on your VT charts.. settings C 10

pls at what point can we see 243 area again
THE TREND IS UR FRIEND
  • #5,998
  • Aug 9, 2007 11:27pm Aug 9, 2007 11:27pm
Quoting tradechief
pls at what point can we see 243 area again
Too bad, I broke my crystal ball.....

Didn't mean to be mean! Are you still holding from 243.....
  • #5,999
  • Aug 9, 2007 11:36pm Aug 9, 2007 11:36pm
Aus, I know you probably take only major trades .. where there is a good potential for 200 pips or so. I've been trading (small lots) based on the 15 min SI and TFT indicators.. and it works pretty good (for small targets of 10-20 pips, sometimes more) Think that's risky?
  • #6,000
  • Aug 9, 2007 11:39pm Aug 9, 2007 11:39pm
Quoting tradechief
pls at what point can we see 243 area again
Oh man, why didn't you use a stop loss? I hope it doesn't go down anymore and goes back up to the level that you bought at.. let's see if this is going to be a quiet Friday or a volatile one.

Check bloomberg.com from time to time - look out for any reports on the current credit situation (banks defaulting, assets being frozen) Anything that can basically spook this market even more - currently it's very vulnerable (all the carry trade pairs) So any bad news tends to drop it down a lot.

On the other hand, it's a Friday.. usually quite a bit of profit taking takes place (maybe later NY session) so if GJ does go down now.. should go up later.. again.. anything can happen. My theory of profit taking can go out the window if the markets decide to dump GJ.

Edit : - Btw, don't feel depressed.. although that's easier said than done. I lost 25 k in 2 days.. at the end of it, I thought I was ready to have a heart attack.. and started thinking about how life was ruined, etc.. but then you calm down.. think of the positive things.. and I take it as a lesson served to me.. for carrying out absolutely stupid trades (ahhh it went up 30 pips.. so it will go up more.. let me buy... or things like.. hmm 242.00 is a barrier.. let me put a trade there, just to discover the price crashing through for another 60 pips beyond that point)

I've lost 25 k, you've probably lost some money.. if professional banks and hedge funds can go bankrupt .. we can make a few mistakes too. Learn from your mistakes, employ stop losses.. don't be greedy.. and don't trade against the trend.
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