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

  • #15,821
  • Aug 27, 2007 12:54am Aug 27, 2007 12:54am
My long entry is 234.29. This is looking more long than short, so I might close my partial hedge.


Frank
  • #15,822
  • Aug 27, 2007 12:55am Aug 27, 2007 12:55am
Quoting frank99
My long entry is 234.29. This is looking more long than short, so I might close my partial hedge.


Frank
beat u by 3 pips entry---lol
  • #15,823
  • Aug 27, 2007 12:56am Aug 27, 2007 12:56am
Nice! :-)
  • #15,824
  • Aug 27, 2007 12:59am Aug 27, 2007 12:59am
Auslanco,

where did you get in long at?


Frank
  • #15,825
  • Aug 27, 2007 1:00am Aug 27, 2007 1:00am
Quoting KillerWhale
I'm just wondering --- How can you see an enormous drop in a totally bullish pattern?
The next serious sub-prime mortgage shit is likely to come in early 2008, (10.000's of mortgages resetting in October and then the Christmas bills, and the foreclosures starting early next year.)
Until then greed will win and the carry trade will most likely regain all its losses. The Japanese are happy that they found a reason NOT to raise interest and the UK interest will likely go up to 6%.
I'm sure that without looking at a chart you can put in a long anywhere and collect a 1000 pips in a month or so, or way sooner.

Just my thoughts, for what its worth.

Orca
Well, fair enough! That's why there's a market! Let's see what happens!
  • #15,826
  • Aug 27, 2007 1:02am Aug 27, 2007 1:02am
OK guys.. I'll be back @ NY open.. I still got a short trade open and my TP is
233.60.

Safe trading
  • #15,827
  • Aug 27, 2007 1:03am Aug 27, 2007 1:03am
Quoting frank99
My long entry is 234.29. This is looking more long than short, so I might close my partial hedge.


Frank
Well done frank, for educational purpose, what made you go long when you did. you seamed to jump in at the right time. and you also HK please explain if you have time.
  • #15,828
  • Aug 27, 2007 1:03am Aug 27, 2007 1:03am
Quoting frank99
My long entry is 234.29. This is looking more long than short, so I might close my partial hedge.


Frank

Perhaps this might be a dumb question, but I'd ask anyway.

Could you please explain who you hedge you position 'cause each account seems to have a limitation of holding positions only in direction. I would appreciate if you could explain the details of how this could be done or for that matter my be I understanding of the meaning of hedging is incorrect

Thank you in advance.

~G.
  • #15,829
  • Aug 27, 2007 1:08am Aug 27, 2007 1:08am
Quoting auslanco
I'm still using the 4hr 1hr QQE, Gann(TFT) combination. The new strategy is a smaller time frame scalping system, which is currently on live testing.
Hey baby...you in long? if so were @?
...i just got up...and boy does this look tasty..
  • #15,830
  • Aug 27, 2007 1:09am Aug 27, 2007 1:09am
Quoting auslanco
I'm still using the 4hr 1hr QQE, Gann(TFT) combination. The new strategy is a smaller time frame scalping system, which is currently on live testing.
What's the rule (signal & entry) to this scalping strategy?
Thanks
  • #15,831
  • Aug 27, 2007 1:13am Aug 27, 2007 1:13am
Quoting AlphaGA
Perhaps this might be a dumb question, but I'd ask anyway.

Could you please explain who you hedge you position 'cause each account seems to have a limitation of holding positions only in direction. I would appreciate if you could explain the details of how this could be done or for that matter my be I understanding of the meaning of hedging is incorrect

Thank you in advance.

~G.

Some brokers allow hedging (opening both a long and short position) while others do not; here's a link that describes hedging: http://www.fxcm.com/hedging.jsp
  • #15,832
  • Aug 27, 2007 1:16am Aug 27, 2007 1:16am
Can someone please confirm that I am reading this right, because it looks like the 3-month treasury bill rate has just dropped about 1.6%.

http://www.bloomberg.com/markets/rates/
  • #15,833
  • Aug 27, 2007 1:17am Aug 27, 2007 1:17am
Quoting fanforex
What's the rule (signal & entry) to this scalping strategy?
Thanks
Aus just posted that his off untill new york. and he just recently posted that the new scalping strategy is still in experimental stage and will anounce it when he comfirms it.
  • #15,834
  • Aug 27, 2007 1:17am Aug 27, 2007 1:17am
Quoting AlphaGA
Perhaps this might be a dumb question, but I'd ask anyway.

Could you please explain who you hedge you position 'cause each account seems to have a limitation of holding positions only in direction. I would appreciate if you could explain the details of how this could be done or for that matter my be I understanding of the meaning of hedging is incorrect

Thank you in advance.

~G.
It can depend on your broker. For instance, FxSol lets you hedge a position and they don't charge you extra margin for it. Other brokers will not let you hold a hedge with the same currency. In those cases sometimes you can hedge with another similar currency. I was doing that with a long E/J that was going too far the wrong way. My broker on that trade doesn't allow hedging, so I hedged it with A/J or U/J and that worked pretty well.
  • #15,835
  • Aug 27, 2007 1:21am Aug 27, 2007 1:21am
Bill77,

The chart pattern told me to go long. I saw what appeared to be a double bottom. It may not be a technical double bottom, but support was tested twice. There was a steep bounce off of 233.90, and then that same level of temporary support was retested. I also had a resistance support line that was broken.

It was a combination of those factors.


Frank


Quoting bill77
Well done frank, for educational purpose, what made you go long when you did. you seamed to jump in at the right time. and you also HK please explain if you have time.
  • #15,836
  • Aug 27, 2007 1:24am Aug 27, 2007 1:24am
darn.. just woke up... but decided to go long @ 234.51

lets see if 235.50 will be hit again.
give me my pips back...
  • #15,837
  • Aug 27, 2007 1:25am Aug 27, 2007 1:25am
AlphaGA,

Most, but not all brokers allow hedging. I basically open up an opposite position and click "Hedge", so it doesn't close the original. I adjust my stops to create a straddle. A lot of traders say it doesn't make any sense to do this, but they must not know anything about range trading. I would recommend picking a direction and then sticking with it to start with since when I first started this, the market would move just enough to hit my stops on both positions. :-)

another way to do this is to go long gbp/jpy and then short aud/jpy assuming the movement is caused by jpy.


Frank

Quoting AlphaGA
Perhaps this might be a dumb question, but I'd ask anyway.

Could you please explain who you hedge you position 'cause each account seems to have a limitation of holding positions only in direction. I would appreciate if you could explain the details of how this could be done or for that matter my be I understanding of the meaning of hedging is incorrect

Thank you in advance.

~G.
  • #15,838
  • Aug 27, 2007 1:25am Aug 27, 2007 1:25am
Quoting Hakuna Matata
ok fellas ---now we have a close of candle below 100 sma on FXdd
my other mt 4 platform closes in 1 hr and the 100sma is at 234.44 on that platform---now lets see what happens then ( it wouldnt be surprising to see the price close at 234.44ish by end of this hr---who knows? lol

ps--this candle closed at 234.54--
  • #15,839
  • Aug 27, 2007 1:27am Aug 27, 2007 1:27am
Quoting markam
Can someone please confirm that I am reading this right, because it looks like the 3-month treasury bill rate has just dropped about 1.6%.

http://www.bloomberg.com/markets/rates/
yo markam--what would that indicate if they did?
im chkin it
  • #15,840
  • Aug 27, 2007 1:29am Aug 27, 2007 1:29am
Quoting markam
Can someone please confirm that I am reading this right, because it looks like the 3-month treasury bill rate has just dropped about 1.6%.

http://www.bloomberg.com/markets/rates/
yup--thats what that site indicates
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