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

  • #24,161
  • Sep 10, 2007 11:09am Sep 10, 2007 11:09am
Quoting monarch
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
I have shorts at 230.12 and 229.95 - and I am cooking the kids tea at the same time !
  • #24,162
  • Sep 10, 2007 11:09am Sep 10, 2007 11:09am
Quoting my2buoys


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
Now you know me too well, took a couple entries just a bit to early, and the larger retrace has my blood warming quickly.

I am more use to the E/J, so this G/J is cooking my lunch, and getting ready to eat my lunch.

I learned a long time ago to pray before entering a trade, and not after!

For now, I think someone else is praying for this to go LONG, so I will wait till their target is reached, then it will fall by the way side, especially once those NY boys get too lunch, and leave us alone to selloff faster.
  • #24,163
  • Sep 10, 2007 11:11am Sep 10, 2007 11:11am
Quoting musicman007
I have shorts at 230.12 and 229.95 - and I am cooking the kids tea at the same time !
Okay, now I know I am in the right direction, thanks for giving me an assurance for my first G/J - Auslanco trade.

I have "A" and "M&M" onboard, so I must be doing something right.

Who else is SHORT???

And I don't mean short on margin. LOL

Note: Do we add more Shorts when (IF) the HOURLY bar taps the 5SMA???
MAN - I better erase this question - I am starting to sound like a NEWBIE - Sorry "A" - LOL
  • #24,164
  • Sep 10, 2007 11:12am Sep 10, 2007 11:12am
Quoting auslanco
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...

Right. No more questions.
  • #24,165
  • Sep 10, 2007 11:13am Sep 10, 2007 11:13am
Quoting winterwhite
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
Well, no wonder so many newbies are screwed up. Even babypips.com doesn't have it right. For one thing, there is only a 4 hour difference between EST and GMT, not 5 as babypips claims. Believe me, London closed at 11AM EST.

M2B
  • #24,166
  • Sep 10, 2007 11:13am Sep 10, 2007 11:13am
Quoting monarch
Okay, now I know I am in the right direction, thanks for giving me an assurance for my first G/J - Auslanco trade.

I have "A" and "M&M" onboard, so I must be doing something right.

Who else is SHORT???

And I don't mean short on margin. LOL

Note: Do we add more Shorts when the HOURLY bar taps the 5SMA???

We need KARMO onboard aswell


  • #24,167
  • Sep 10, 2007 11:14am Sep 10, 2007 11:14am
Quoting monarch
Okay, now I know I am in the right direction, thanks for giving me an assurance for my first G/J - Auslanco trade.

I have "A" and "M&M" onboard, so I must be doing something right.

Who else is SHORT???

And I don't mean short on margin. LOL
bro. Keep an eye on the 15min QQE5.. if it crosses back upwards, I'm going to exit.. I hate post London hours, Markam is manupilating the market after the London close.
  • #24,168
  • Sep 10, 2007 11:14am Sep 10, 2007 11:14am
Quoting my2buoys
Well, no wonder so many newbies are screwed up. Even babypips.com doesn't have it right. For one thing, there is only a 4 hour difference between EST and GMT, not 5 as babypips claims. Believe me, London closed at 11AM EST.

M2B
I think it might depend on whether EST is in their day light savings time or not. That would make it off by an hour.
  • #24,169
  • Sep 10, 2007 11:17am Sep 10, 2007 11:17am
Quoting auslanco
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 can 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...
Nothing really substitutes for watching that damn pair bounce up and down, day after day. After a while, you start to get a real feel for what it will probably do next. Then you find out that the indicators, when interpreted properly, can do the same thing. Put them together and your confidence level skyrockets when trading.
  • #24,170
  • Sep 10, 2007 11:18am Sep 10, 2007 11:18am
Quoting auslanco
bro. Keep an eye on the 15min QQE.. if it crosses back upwards, I'm going to exit.. I hate post London hours, Markam is manupilating the market after the London close.
I had the 5 minute and the 15 minute up here, the 5 looked like it wanted to go below, the 15 is holding under still.

Lets see what this hour here gives us, looks like it is starting to soften up a bit here.

NOTE: Looking for the 229.53 area for breach, the recent low on this move down, we breach this, we could be going deeper.
  • #24,171
  • Sep 10, 2007 11:20am Sep 10, 2007 11:20am
Quoting budak baru
i've follow this threat but my problem is where to put tp.and need explainnation.tq for u all suuport.
all i can advise you bb is, understand the charts and learn aus's system. once you understand a good time to enter a trade thats half your job done. take profit when ever you can with out being to greedy. take profit at maximum level is a art you will need experience and after two weeks of reading this thread is not enough. just practice demo and keep watching this thread for clues how others put a limit for take profit (which many times they explain why) and take note. there are diferent ways to take profit such as trend reversals using your charts or resistance lines etc...ect. no one has the exact to the pip and guarantee it reachs that point. just give yourself time to learn and the best way is by waching and you will get answers with out needing to ask. good luck
  • #24,172
  • Sep 10, 2007 11:21am Sep 10, 2007 11:21am
Quoting monarch
I had the 5 minute and the 15 minute up here, the 5 looked like it wanted to go below, the 15 is holding under still.

Lets see what this hour here gives us, looks like it is starting to soften up a bit here.

NOTE: Looking for the 229.53 area for breach, the recent low on this move down, we breach this, we could be going deeper.
As Karmo would say, "Patience"
  • #24,173
  • Sep 10, 2007 11:21am Sep 10, 2007 11:21am
Quoting auslanco
bro. Keep an eye on the 15min QQE5.. if it crosses back upwards, I'm going to exit.. I hate post London hours, Markam is manupilating the market after the London close.

don't blame me. Blame those idiots trading in the stock market. However, today, I feel fairly comfortable that we will end up as a down day in the market. Hopefully, our shorts won't be messed up.
  • #24,174
  • Sep 10, 2007 11:21am Sep 10, 2007 11:21am
Quoting monarch

I learned a long time ago to pray before entering a trade, and not after!

Amen to that!

For now, I think someone else is praying for this to go LONG,
It took me a long time to come to that conclusion. There are, no doubt, good people on both sides of a trade at any given time. I just hope God sees me as the 'gooder' of the two! Sincerely appreciate all your input, Ken. Your calm spirit is needed in this thread. I truly believe you have even helped to calm Aus down when the dweebs were fraying his nerves. God bless, and many more pips to ya!

M2B
  • #24,175
  • Sep 10, 2007 11:23am Sep 10, 2007 11:23am
Quoting Basmati
I think it might depend on whether EST is in their day light savings time or not. That would make it off by an hour.
I already checked that. That doesn't start until the first week of November.

M2B
  • #24,176
  • Sep 10, 2007 11:23am Sep 10, 2007 11:23am
Quoting auslanco
bro. Keep an eye on the 15min QQE5.. if it crosses back upwards, I'm going to exit.. I hate post London hours, Markam is manupilating the market after the London close.
I thought we had everyone onboard for SHORT, if I knew Markam was LONG, I would have put 1/2 lots only on my SHORT.

Come on and get this drop going.

This thing just grew some LONG teeth as I speak. bummer
  • #24,177
  • Sep 10, 2007 11:24am Sep 10, 2007 11:24am
Quoting markam
don't blame me. Blame those idiots trading in the stock market. However, today, I feel fairly comfortable that we will end up as a down day in the market. Hopefully, our shorts won't be messed up.
Of course, as soon as I write this, the stock market starts moving up. 13,100 looks like the critical level today. If it moves above there, I will exit my short.
  • #24,178
  • Sep 10, 2007 11:28am Sep 10, 2007 11:28am
Maybe today is one of those days, just grab some pips and go. Can't expect much
  • #24,179
  • Sep 10, 2007 11:30am Sep 10, 2007 11:30am
Quoting my2buoys
It took me a long time to come to that conclusion. There are, no doubt, good people on both sides of a trade at any given time. I just hope God sees me as the 'gooder' of the two! Sincerely appreciate all your input, Ken. Your calm spirit is needed in this thread. I truly believe you have even helped to calm Aus down when the dweebs were fraying his nerves. God bless and many more pips to ya!

M2B
Once a trader spends numerous hours watching and studying the charts they become aware of every type of candle move that is transpiring and most types of formations that shake the newbies out.

I spend time prior to my trading preparing my mind, and if someone wants to be a knowledgable trader, then my recommendation would be to have set rules that they trade, and also have a mindset of what is going to happen once they enter the market.

Many traders start with demo's, and it teaches them to just do what they want, but once you throw a real buck into the mix, then your emotions begin to play on you very quickly.

Just trade what you have on your strategy, if it stops out, then so be it, we will have hundreds of more trades to follow.

Never let one loss beat you, get it together and come back with a greater knowledge of yourself, and your strategy.

Patience and Peace, two ingredients for a fun day at the office trading FOREX.
  • #24,180
  • Sep 10, 2007 11:31am Sep 10, 2007 11:31am
If we get a 1hr bar close below 229.64.. it will be all down the hill after that.
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