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

  • #24,141
  • Sep 10, 2007 8:43am Sep 10, 2007 8:43am
Quoting Piters
Session Active
Ends Today 2:00am
(in 21 mins.)
Really. Did they just change their closing time or is today just a special day where they decided to extend it, because London always closes at 1500GMT.

M2B
  • #24,142
  • Sep 10, 2007 8:44am Sep 10, 2007 8:44am
Quoting monarch
Looks like a nice retrace, good and strong, now looking for the drop off here.

Are you SHORT here "A"?
I went short at 229.90 & 230.01.. My TP target is 228.64
  • #24,143
  • Sep 10, 2007 8:44am Sep 10, 2007 8:44am
Quoting my2buoys
Dude,

London closed 30 minutes ago. Doh!

M2B
hah!!!!!!
just joking
in my calendar london is still open!!!!!!!??????
in your was closed????
  • #24,144
  • Sep 10, 2007 8:44am Sep 10, 2007 8:44am
Quoting kingmaker
hi monarch,
what's your 30M 5SMA? Is it 230.39? just testing my chart?

Kingmaker
I had a 30Min 5SMA at 230.15 on MT4, took 3 seperate Shorts:

230.13
229.95
229.89

I usually don't trade too much G/J, but wanted to test the strategy here, it also looks short on my 5 min setup, but not use to the faster negative pips, I am usually trading the E/J only.

Will see what we can get here, Target 229.65 at least for now.

Not much, but I am a scalper by trade.

LOL
  • #24,145
  • Sep 10, 2007 8:47am Sep 10, 2007 8:47am
Quoting auslanco
I went short at 229.90 & 230.01.. My TP target is 228.64
I guess I need to drop my limit then, your down more than I expected.

This will be one of those Enter and Trust trades, my actual first time I am trading the G/J with the 30min retrace setup, I usually just scalp for 10 or so.

What kind of Stop would I need to SET here???

Thanks all!
  • #24,146
  • Sep 10, 2007 8:51am Sep 10, 2007 8:51am
HEY GUYS is there anyway you can program your VTcharts so when your indacators(example the LEVEL STOP REVERSE SYSTEM arrows up or down on one chart like the 15min GBPJPY but im on the GBPUSD looking for trades and I miss out on that cause I did not see it in time! How can you program your charts indacators to show you which currency and time frame GO OFF so it will pop-up on the screen and show you which time frame and currency?
  • #24,147
  • Sep 10, 2007 8:53am Sep 10, 2007 8:53am
1H momentum is up. We could still see the 1h 5SMA around 230.45. Can the GBP/JPY do it within the next 5 minutes?

M2B
  • #24,148
  • Sep 10, 2007 8:54am Sep 10, 2007 8:54am
Quoting monarch
I guess I need to drop my limit then, your down more than I expected.

This will be one of those Enter and Trust trades, my actual first time I am trading the G/J with the 30min retrace setup, I usually just scalp for 10 or so.

What kind of Stop would I need to SET here???

Thanks all!

230.70 is my SL..
  • #24,149
  • Sep 10, 2007 8:54am Sep 10, 2007 8:54am
Quoting auslanco
I went short at 229.90 & 230.01.. My TP target is 228.64
hello aus,

i have following this thread for 2 weeks and i had learn good knowledge.thanks to u.
just to ask one question.how u put your limit for this short?base on what??tq
Gold Expedition Return This Year: -16.4%
  • #24,150
  • Sep 10, 2007 8:55am Sep 10, 2007 8:55am
Quoting auslanco
Momentum indicator is a very tricky indicator.. You must study the price action with the indicator behavior to get a feel and use it for your trading.. All we can do is introduce you to the correct indicators. It's up to you to take your time study and learn.. Please keep your silly lazy questions to your selves and start studying the indicator behaviors... Thats how we learnt and thats how we expect you to learn.. We our selves trade for a living and dont have time to babysit.

Not lazy. And was not looking for any "BUY-HERE" - "SELL-HERE" hand-outs . . . was ONLY interesested in your brief, and very general approach, to retraces.

Thanks M2B (must have missed the post regarding retraces.)

Regards
  • #24,151
  • Sep 10, 2007 8:55am Sep 10, 2007 8:55am
Quoting turn1to100
HEY GUYS is there anyway you can program your VTcharts so when your indacators(example the LEVEL STOP REVERSE SYSTEM arrows up or down on one chart like the 15min GBPJPY but im on the GBPUSD looking for trades and I miss out on that cause I did not see it in time! How can you program your charts indacators to show you which currency and time frame GO OFF so it will pop-up on the screen and show you which time frame and currency?
Go to www.cmsfx.com
  • #24,152
  • Sep 10, 2007 8:57am Sep 10, 2007 8:57am
Quoting budak baru
hello aus,

i have following this thread for 2 weeks and i had learn good knowledge.thanks to u.
just to ask one question.how u put your limit for this short?base on what??tq
I would say that "A" uses the amount of sweat that drips from going negative as his STOP indicator, like me right now. LOL

No Stop entered yet, waiting for blood to appear in the eyelids first.

Lets see if we have had enough retrace up here.
  • #24,153
  • Sep 10, 2007 8:59am Sep 10, 2007 8:59am
Quoting my2buoys
Dude,

London closed 30 minutes ago. Doh!

M2B

M2B

You may wish to check this:

http://www.babypips.com/school/market_hours.html

My understanding is that there has been no change in time
as outlined in the above link.

Thanks
  • #24,154
  • Sep 10, 2007 9:00am Sep 10, 2007 9:00am
Quoting monarch
I would say that "A" uses the amount of sweat that drips from going negative as his STOP indicator, like me right now. LOL

No Stop entered yet, waiting for blood to appear in the eyelids first.

Lets see if we have had enough retrace up here.
and how u put your tp?
Gold Expedition Return This Year: -16.4%
  • #24,155
  • Sep 10, 2007 9:00am Sep 10, 2007 9:00am
Quoting budak baru
hello aus,

i have following this thread for 2 weeks and i had learn good knowledge.thanks to u.
just to ask one question.how u put your limit for this short?base on what??tq

i don't mean to be rude, but if u have aus's correct setup, u would see that 230.70 is in fact the gann line on the h1 timeframe and also the m30, and you would also notice that it's also the gann line on top of the confirmation candle in the 15m TimeFrame
  • #24,156
  • Sep 10, 2007 9:04am Sep 10, 2007 9:04am
Quoting lilmoe
i don't mean to be rude, but if u have aus's correct setup, u would see that 230.70 is in fact the gann line on the h1 timeframe and also the m30, and you would also notice that it's also the gann line on top of the confirmation candle in the 15m TimeFrame
i've follow this threat but my problem is where to put tp.and need explainnation.tq for u all suuport.
Gold Expedition Return This Year: -16.4%
  • #24,157
  • Sep 10, 2007 9:05am Sep 10, 2007 9:05am
Quoting monarch
I would say that "A" uses the amount of sweat that drips from going negative as his STOP indicator, like me right now. LOL

No Stop entered yet, waiting for blood to appear in the eyelids first.

Lets see if we have had enough retrace up here.


When you're rolling on the floor praying for price to come back to break even, you know you've traded too many lots or set your stop too far away!

M2B
  • #24,158
  • Sep 10, 2007 9:06am Sep 10, 2007 9:06am
Quoting budak baru
and how u put your tp?
Personally, my Target would be 229.18 for the 1st half of my entries, that was a low spike on my charts earlier, then I would target 228.65, the same place that Auslanco has, which is another spike low on the charts since the market opened yesterday.

As for STOPS, well, I guess anywhere above 229.60 would be safe enough to allow this to breathe before heading downward, remember G/J moves fast and big, and a 40 pip stop will destroy you in a spike, so you have to give it space while it tries to take stops out.

That is my setup for now, I only have 6 lots on this, so a stop out would not hurt as bad as if I was scalping right now with a lot more money on the line.
  • #24,159
  • Sep 10, 2007 9:08am Sep 10, 2007 9:08am
Quoting SailingAway
Not lazy. And was not looking for any "BUY-HERE" - "SELL-HERE" hand-outs . . . was ONLY interesested in your brief, and very general approach, to retraces.

Thanks M2B (must have missed the post regarding retraces.)

Regards

Bro.. it's funny how people want everything on a silver platter.. When I first started forex I studied over 200 indicators and each indicator atleast for 2months every single trading day 12 hours day and ever single pip move..Then I came up with the best 3 indicators I could find. I didnt have a mentor, never done a forex course in fact I never knew anyone who trade forex. I have done the hard yard for everyone here. And still there are some people who cant study the indicator behavior for atleast an hour before they shoot a basic question on this thread.
Here's some news.. sdot, Brok, M2B, Bill7 , lilmoe are some of the people who had learnt this strategy very well... I cant even remember a day they have asked me a question about the strategy. It's all basic and self explanatory.. all you have to do is spend some time to get a feel...
  • #24,160
  • Sep 10, 2007 9:08am Sep 10, 2007 9:08am
Quoting budak baru
i've follow this threat but my problem is where to put tp.and need explainnation.tq for u all suuport.

My friend, just follow the "PATH"

http://www.forexfactory.com/showthre...=45076&page=13

". Default stoploss of 60pips, Default Take profit 100 pips"
Cheers

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