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

  • #23,261
  • Sep 7, 2007 12:42pm Sep 7, 2007 12:42pm
Quoting karmostaji
sit tight bears
Karmo

I have seen on this thread that sometimes traders leave their sell trade open for the weekend to catch the "Gap", I think that is what it is called. That means I think that price will fall and the trader could pick up additional pips.

What conditions based on your experience will let a trader make that decision at Friday's closing?

Is today such a day to leave a sell trade open?

Still learning.

Thanks sw
The Will is Greater than the Skill
  • #23,262
  • Sep 7, 2007 12:42pm Sep 7, 2007 12:42pm
Quoting karmostaji
Every trade must learn a skill we humans call it 'Patience'
Ok, Patience loaded.
I am short, so now I wait
If you lose, I will grab your pips away
  • #23,263
  • Sep 7, 2007 12:42pm Sep 7, 2007 12:42pm
Where do you think this pair will close today? Will the Asian open on Sunday take this pair lower? Thanks for your opinion...
  • #23,264
  • Sep 7, 2007 12:45pm Sep 7, 2007 12:45pm
Quoting skillwill
Karmo

I have seen on this thread that sometimes traders leave their sell trade open for the weekend to catch the "Gap", I think that is what it is called. That means I think that price will fall and the trader could pick up additional pips.

What conditions based on your experience will let a trader make that decision at Friday's closing?

Is today such a day to leave a sell trade open?

Still learning.

Thanks sw
There could easily be a 100 pip gap when trading starts up again. My opinion right now is that the gap could go either way. I'm closing everything. It would only be worthwhile if I had a big position open and I don't want to gamble.
  • #23,265
  • Sep 7, 2007 12:48pm Sep 7, 2007 12:48pm
guys, when US sneezes, the world catches a cold, and when US has COLD, then imagine what will happen, all stoch markets Monday will crash as badly or more, and that gives oppurtunity to Sell in Rallies
So load up today if you are agressive trader , if not, wait till monday 1 hr after asian stocks start to fall to enter market
  • #23,266
  • Sep 7, 2007 12:51pm Sep 7, 2007 12:51pm
Quoting markam
There could easily be a 100 pip gap when trading starts up again. My opinion right now is that the gap could go either way. I'm closing everything. It would only be worthwhile if I had a big position open and I don't want to gamble.
Malcom

What causes the Gap? What makes you say that it could go either way? Does it depend on whether market is going down vs. up at closing?

Thanks. sw
The Will is Greater than the Skill
  • #23,267
  • Sep 7, 2007 12:53pm Sep 7, 2007 12:53pm
Quoting skillwill
Malcom

What causes the Gap? What makes you say that it could go either way? Does it depend on whether market is going down vs. up at closing?

Thanks. sw
I have been calling you Malcom all along. My apologies.
The Will is Greater than the Skill
  • #23,268
  • Sep 7, 2007 12:54pm Sep 7, 2007 12:54pm
I am wanting to get this one new trade just a bit into profit and lock some in and let it run. Trust me it ain't a large trade by any means but if I have some locked it then as karm say's,"it's a free trade"

good luck and I sure wish it would hury up so I can take a nap.

made pips today and ain't gunna give but a few back this way I guess?
  • #23,269
  • Sep 7, 2007 12:56pm Sep 7, 2007 12:56pm
Quoting skillwill
Malcom

What causes the Gap? What makes you say that it could go either way? Does it depend on whether market is going down vs. up at closing?

Thanks. sw

There is still trading over the weekend. It is just that us small fry can't get in on it. On a strong down or up condition going into close, it would be more likely to continue in that direction. A few weeks ago, we had that big dive in the stock market and GJ in the last hour of the market. It continued down over the weekend and was down something like 100 pips when trading for us opened.

If we get a big crash in the last 2 hours of the market, we might see some action over the weekend. If we limp into the close (like I think we will), there probably won't be much happening over the weekend.
  • #23,270
  • Sep 7, 2007 12:57pm Sep 7, 2007 12:57pm
Quoting skillwill
I have been calling you Malcom all along. My apologies.
From what I have seen, it normally will open with a gap in the same direction it was going when it closed. This is due to last minute trades from all over the place I believe. You know "Panic" trades?
If I am wrong somebody wil correct me I hope.
  • #23,271
  • Sep 7, 2007 1:01pm Sep 7, 2007 1:01pm
Quoting markam
There is still trading over the weekend. It is just that us small fry can't get in on it. On a strong down or up condition going into close, it would be more likely to continue in that direction. A few weeks ago, we had that big dive in the stock market and GJ in the last hour of the market. It continued down over the weekend and was down something like 100 pips when trading for us opened.

If we get a big crash in the last 2 hours of the market, we might see some action over the weekend. If we limp into the close (like I think we will), there probably won't be much happening over the weekend.

Damn this is getting wierd... I think it is going to stay like this until close too, you know "limp" into the week end. But on the brighter side I have a very VERY tight S/L set as well as a good T/S just in case. I would just like to lock in like 10 pips and go to sleep better though..

Just in case: Have a great week end all my forex friends.
  • #23,272
  • Sep 7, 2007 1:02pm Sep 7, 2007 1:02pm
Quoting markam
There is still trading over the weekend. It is just that us small fry can't get in on it. On a strong down or up condition going into close, it would be more likely to continue in that direction. A few weeks ago, we had that big dive in the stock market and GJ in the last hour of the market. It continued down over the weekend and was down something like 100 pips when trading for us opened.

If we get a big crash in the last 2 hours of the market, we might see some action over the weekend. If we limp into the close (like I think we will), there probably won't be much happening over the weekend.
Thanks for the explanation. I understand much better. Now can you do your magic and get this bear to head south in a hurry
The Will is Greater than the Skill
  • #23,273
  • Sep 7, 2007 1:05pm Sep 7, 2007 1:05pm
Quoting skillwill
I have been calling you Malcom all along. My apologies.
I think I am guilty of the same thing.!
I'm sorry!!
  • #23,274
  • Sep 7, 2007 1:06pm Sep 7, 2007 1:06pm
I will make my usual end of market dow call. Please don't take this for anything of significance, I just like to see how well I can read the stock market.

We are not going to drop anymore today. That last half-hearted breach of 13150 on the dow was it. I expect asian and european markets to be a lot more worried when next week begins. That, and some bad news should put a little more fear into the stock market bulls next monday.

I could easily be wrong. Earlier I thought the market would end around the 13000 mark. Make your own calls and decisions.
  • #23,275
  • Sep 7, 2007 1:09pm Sep 7, 2007 1:09pm
Well heck with it...I locked in B/E and left my T/S working...time for a nap. Bowling night you know..
  • #23,276
  • Sep 7, 2007 1:13pm Sep 7, 2007 1:13pm
Quoting markam
I will make my usual end of market dow call. Please don't take this for anything of significance, I just like to see how well I can read the stock market.

We are not going to drop anymore today. That last half-hearted breach of 13150 on the dow was it. I expect asian and european markets to be a lot more worried when next week begins. That, and some bad news should put a little more fear into the stock market bulls next monday.

I could easily be wrong. Earlier I thought the market would end around the 13000 mark. Make your own calls and decisions.
Markam,

I am thinking the same thing so don't feel bad. I will leave a tiny trade working at break even and a trailing stop and see what happens sunday night. Shame you don't live close to iowa we could really get some crap started over a few beers at the local pub..lol

See ya next week

Well crap got stopped out already, guess I will just go take a nap..
  • #23,277
  • Sep 7, 2007 1:14pm Sep 7, 2007 1:14pm
just imagine this scenario: the fed cuts rates but the dow does not rally
  • #23,278
  • Sep 7, 2007 1:15pm Sep 7, 2007 1:15pm
Quoting kevinsw
Damn this is getting wierd... I think it is going to stay like this until close too, you know "limp" into the week end. But on the brighter side I have a very VERY tight S/L set as well as a good T/S just in case. I would just like to lock in like 10 pips and go to sleep better though..

Just in case: Have a great week end all my forex friends.
Kevinsw

We may very well "limp" into the weekend. After all home values are down, jobs are being cut.....so the only think to give America hope is the BIG DOW.

I am an optimist but I agree with Mr. "Gloom & Doom". It's only a matter of time before America gets a reality check. The rest of the world has already figured it out, and so have we. We are just simply delaying the inevitable.

Enjoy the ride down for now....and just remember that chart HK showed us a few days ago.
The Will is Greater than the Skill
  • #23,279
  • Sep 7, 2007 1:23pm Sep 7, 2007 1:23pm
Quoting kevinsw
Damn this is getting wierd... I think it is going to stay like this until close too, you know "limp" into the week end. But on the brighter side I have a very VERY tight S/L set as well as a good T/S just in case. I would just like to lock in like 10 pips and go to sleep better though..

Just in case: Have a great week end all my forex friends.

Kevin, your strategy would give you only more loses than wins, I guess.
You can't trade this pair with tight SL and only 10 pips win. It is a very bad strategies.
  • #23,280
  • Sep 7, 2007 1:26pm Sep 7, 2007 1:26pm
I don't think DOW is done for falling the day, 1hr 30 mins to go
Trade what you see, not what you think.
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