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Daily GBP/JPY analysis

  • #13,061
  • Aug 17, 2007 7:16am Aug 17, 2007 7:16am
Quoting the_wizard
Fed just cut rates!!!
Yep, that caused the +136 1 min bar back at 8:15edt.......and I wasnt in it then, but got some great entries later, nice clear signals, but frighteningly fast moves
Trading Levels with WRBs
  • #13,062
  • Aug 17, 2007 3:31pm Aug 17, 2007 3:31pm
Quoting bravado
enough to buy some lollipops.
Ok, I understand
If you never lose, something is wrong...
  • #13,063
  • Aug 17, 2007 4:02pm Aug 17, 2007 4:02pm
Quoting the_wizard
Fed just cut rates!!!

Fed cut the discount rate from 6.25% to 5.75%

This is different from the funds rate of 5.25% which remains unchanged.
  • #13,064
  • Aug 17, 2007 4:09pm Aug 17, 2007 4:09pm
This is crazy.. Just stopped off at the "office" and in the demo I have running there's a short position open from the 9th of august, before all the mess. it's at +1100 pips (was +1700).. When trading in the office analysis is kept to a minimum and I just do what the market is doing.. with green price bars and nothing else... All trades in that demo are big winners except for 2 with minor losses. (9 trades altogether) and just 2 trades during the unwind.

It broke support downwards, I went short and closed MT4, didnt think of it since. Just returned to work.

At home, this is hardly ever the case. I am always busy ANALyzing the charts to death and creating some sort of story behind a trade I'm about to take.. Overall just breaking even!

Why? Analysis is bad?
  • #13,065
  • Aug 17, 2007 6:42pm Aug 17, 2007 6:42pm
Quoting bobblong
This is crazy.. Just stopped off at the "office" and in the demo I have running there's a short position open from the 9th of august, before all the mess. it's at +1100 pips (was +1700).. When trading in the office analysis is kept to a minimum and I just do what the market is doing.. with green price bars and nothing else... All trades in that demo are big winners except for 2 with minor losses. (9 trades altogether) and just 2 trades during the unwind.

It broke support downwards, I went short and closed MT4, didnt think of it since. Just returned to work.

At home, this is hardly ever the case. I am always busy ANALyzing the charts to death and creating some sort of story behind a trade I'm about to take.. Overall just breaking even!

Why? Analysis is bad?

just some self confident and eliminate/reduce the amount of fear
and you will do in the real account what you did in the demo

as you see the only difference is the money
in the demo you think that you dont lose anything if you receive MC
so do the same for the real account
  • #13,066
  • Edited Aug 18, 2007 11:43am Aug 17, 2007 8:10pm | Edited Aug 18, 2007 11:43am
Quoting Islander
In the current volatile time, I prefer to watch the action on a 1 min chart.

The 8ema envelope - yellow dashed - and The Snake show likely pull backs / reversals that are away from the pivots and the 8ema itself helps confirm entries / exits and provides support for each move.

I´m now waiting to see if the 223 handle holds - also 200ema - green - of if M2 is to be tested yet again.

Dear Islader,

Can you please email or post the MT4 indicator named (SnakeInBorders M24) that you used on your 1 min gpy/yen chart wiith the envelopes and moving averages.

Thank You

M. Hafiz
  • #13,067
  • Aug 17, 2007 8:52pm Aug 17, 2007 8:52pm
Quoting bobblong
Why? Analysis is bad?
No, over-analysis is bad, as is the second guessing that often causes over trading. I would imagine (having read other posts of yours) that you are pretty aware of the bigger technical picture by the time you enter the office, so that the opportunities become more intuitively available.

And maybe it's a lesson in the pleasure of trading longer time frames. If you have the talent (and you seem to), why not put a few contracts on in micros or minis (something absolutely unpainful if you lose), write out a trading plan, and stick to it and see what happens).

PS - it's a good thing to do so you'll be practiced at it once you get older and no longer have the excess of testosterone that fuels the younger guys. What remains is better put to other uses

\
  • #13,068
  • Edited Aug 18, 2007 10:09am Aug 17, 2007 9:39pm | Edited Aug 18, 2007 10:09am
Quoting halifaxCB
.... why not put a few contracts on in micros or minis (something absolutely unpainful if you lose), write out a trading plan, and stick to it and see what happens).
Do you mean by that to trade smaller altogether and see how it works or to start a trade with an initial feeler amount to see if it will go my way? Trading plan is a concept perhaps I do not understand... My usual 'plan' is to set a stop that makes sense <Check> then if it gets hit, re-assess what's happening, maybe then reverse, maybe not. Normally 3 parts are traded with 1 without a TP.. 3% for seemingly strong signals and 1.5-2% with less confluence between technicals going on. You'd say this is a trading plan, or part of it?

EDIT: Here's a thread with a good template to give a good idea of what a trading plan is for those like me that didn't know
http://forexfactory.com/showthread.p...highlight=plan

Thank you for the advice benssol, HalifaxCB...

Will try to make use of it lol.
  • #13,069
  • Aug 18, 2007 12:11am Aug 18, 2007 12:11am
Quoting mhafiz
Dear Islader,

Can you please email me (at [email protected]) or post the MT4 indicator named (SnakeInBorders M24) that you used on your 1 min gpy/yen chart wiith the envelopes and moving averages.

Thank You

M. Hafiz
Snake emailed as requested http://www.forexfactory.com/images/icons/icon14.gif

PS for your own security its a good idea to delete your email from these 2 posts and only put your email in a PM rather than in the thread http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #13,070
  • Aug 18, 2007 3:02pm Aug 18, 2007 3:02pm
hey islander,

can you post your snakeinborders indicator please? also, does this indicator re-paint or is it real-time painting?? thanks
  • #13,071
  • Aug 18, 2007 5:18pm Aug 18, 2007 5:18pm
Lower liquidity + need for it = more movement....just like NFP. Thus we see 1000 pip drops in gbpjpy....400 pips in 5minutes. Crazy movement.

hope the liquidity remains like this. That may ensure more volatility
100% of traders are losers. Just that some win more than they lose!
  • #13,072
  • Aug 18, 2007 6:49pm Aug 18, 2007 6:49pm
I have spent hours looking for it.
How far back is it?

Thanks;
Deb
  • #13,073
  • Edited 8:33pm Aug 18, 2007 8:23pm | Edited 8:33pm
Quoting cybernan
I have spent hours looking for it.
How far back is it?

Thanks;
Deb

He has his own two threads... one for discussion and the other detailing his
strategy... look under the forex discussions. Is that the info you are looking for?
If not, go to the first post on his discussion thread, note the date (7-28-08) and
then go back from that date on this thread to any of his previous posts.

You could always click on his name and it will bring up all the post he has
ever written. Good luck.... it's in the 1,000's

Here's his strategy link:

http://www.forexfactory.com/showthread.php?p=1524053
Auslanco-GBP/JPY Strength Indicator strategy

Dr. D.
  • #13,074
  • Aug 18, 2007 10:47pm Aug 18, 2007 10:47pm
Here are the snake indicators.
Attached File(s)
File Type: mq4 SnakeForce.mq4   6 KB | 1,166 downloads
File Type: mq4 SnakeInBorders.mq4   8 KB | 1,220 downloads
Is your SL my TP?
  • #13,075
  • Aug 19, 2007 1:10am Aug 19, 2007 1:10am
Quoting kenmania
Here are the snake indicators.
do these indicators re-paint?? thankyou
  • #13,076
  • Aug 19, 2007 1:41am Aug 19, 2007 1:41am
Good question. I don't really have much experience with them- I found them through a search on the web after I saw Islander's setup.

I will say that using SnakeForce on the one minute chart was pretty interesting- I didn't notice it repainting, but then again...it was a one minute chart. :
Is your SL my TP?
  • #13,077
  • Aug 19, 2007 1:49am Aug 19, 2007 1:49am
hopefully Islander or anyone can shed some light on these indicators, they look to good to be true, the snakeforce especially looks great, but if it does not re-paint on the 1 minute than i dont think it will repaint on any other timeframes.....
  • #13,078
  • Aug 19, 2007 1:57am Aug 19, 2007 1:57am
I scalped quite a few pips on g/j running SnakeForce in demo Friday. It wasn't the only indicator I was running but the color change on that one helped me figure direction a lot, it seemed.

It's been a very unusual week, though. I'm not normally a scalper, especially on this pair- but if the volatility holds I might become one.
Is your SL my TP?
  • #13,079
  • Aug 19, 2007 11:01am Aug 19, 2007 11:01am
i just ran a 5 minute backtest on the indicator, its useless, it re-paints bigtime, i knew it was to good to be true
  • #13,080
  • Aug 19, 2007 1:23pm Aug 19, 2007 1:23pm
Quoting Clusterwise
I hope that you don't think of it as a joke , it's serious

Next step 230 , 222 then 201

If i am not mistaken

Many thanks
from http://www.forexfactory.com/showthre...01#post1513585

We have crossed half of the way, are you ready for the second part ?

many thanks
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