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

possible retracement up to 230. becareful if you are short

well I had a great run up until 20th July 2007 and just blew my account yesterday on the down turn. All fib retracements didn't hold so £8000 gone.. You live and learn.
Only started with £1000 but the loss is hard to take... Lesson to all traders its easy to trade with the trend and if in my case you did so for 8 months its hard to change your mindset. I guess now that the 61.8% fib is well and trully broke this market is trending down. This was always going to be a difficult one as I never got a reply on when to recognise a true turning of trend on the forums or researching on the net and I was caught up in it. I will observe for the next month before trading again ... If this beast turns around I will be even more confused?

Its so easy to now look at the charts but over the trend trading period these fib levels were spot on, hence my success at the time. Only issue which I wasn't aware of was the Carry trade and its impact. It this the main reason for the change in direction anyone?

Good luck to all, trend trading is definitely the way forward as I had been trading on and off for 5 years without success prior to this. I have tried so many systems before and found them too erratic. Check out Jacko's thread who is very successful trend trading (eur/USD) which incidently is at a similar fib retracement point.. I wonder if the same will happen and it keeps falling!


Dave


PS I see people jumping on and off signals from posts here. I used to follow blindly and I can tell you from experience that you will loose your account... its only a matter of time! You must adopt the trading system and make your own decisions

980 so far

I think it got to 1,005 but I wasn't here to close it and if I did it probably would have closed at 999!!

Mike

is that 15m TFT ?

When you reach 1000.. everyone here gets a beer from you :

I totally agree rumbey, best to learn a system then to just be dependant on signals from others. I followed a couple yesterday and traded on my LIVE account which i dont really touch and got burned. No blame to anyone! Serves me right really lol, i just got caught up on all the excitement. Silly me

How Much you need more....



I can send you some PIPS

Way to go Mike! I'll get the champers ready!

yeah i think it did , i was following it for you! put a TP level next time getting 100o pips is a milestone worth getting out of a trade just to achieve it

holy moly 228 territory...

1,000+

This must be what it's like to get a hole in one!!

yep ... First TP for me 238.35

Hi think the possible retracement near 228,4/3

best regards

I'm sorry if it was a little more than one hour as I promissed CONFRATULATIONS!!!!!!!!!!

First Tp Hit 238.35 :d :d

227.70 in sight...

You are so so right Dave , i used to follow what people said here and i blew my account up as well.
Now i just look at what people are saying and i take it as information for my own strategy and it's way better
But i guess a lot of people did that mistake

Seb

I see support now at 226.90.... wow