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

  • #27,361
  • Sep 16, 2007 10:25am Sep 16, 2007 10:25am
Quoting Hakuna Matata
every week we have the jokers post of the week

If he still had the trade open, it would be down 56 pips.
  • #27,362
  • Sep 16, 2007 10:32am Sep 16, 2007 10:32am
Quoting karmostaji
This is a good lesson for the traders who follow without knowing what on earth is happening, trading blindly will only lead to a disaster.
I totally agree with everybody saying we are intraday traders, ofcourse we are.. when I predict something, it doesn't mean I have a short trade sitting and I'm just waiting, nah. I trade what I see based on intraday moves, make pips. I was short biased last week and price went up at the beginning (pricing in 25bp?), I made green pips (I didn't sit there like a newbie and watch $20K evaporate), but then the market turned around last day of the week and the weekly candle closed as a bearish candle which is what I was expecting it to do.
My weekly candle appears to be bull.
My chart package is a stand alone subscription.
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  • #27,363
  • Sep 16, 2007 11:14am Sep 16, 2007 11:14am
Quoting Mysticdiver
My weekly candle appears to be bull.
My chart package is a stand alone subscription.
Guess I was thinking about the week before, but that's not the point. The point is that every trader should have his/her own analysis and not just follow someone blindly.

Market opens in a couple of hours, get ready ladies and gentlemen
Trade what you see, not what you think.
  • #27,364
  • Sep 16, 2007 11:21am Sep 16, 2007 11:21am
Quoting auslanco
Definitely not.. Keep those information coming to this thread. Very much appreciated.

I recieved a PM from one trader , saying how he lost $20,000 when the price rose to 234.75 and he's blaming on this thread for his losses since every one hear expected a big fall last week. My concern is to contribute a balance view so some idiotic traders don't invest blindly.
That is why I don't trade blindly. Hopefully this person has learned his or her lesson. God Speed!
Humble Lifetime Member
  • #27,365
  • Sep 16, 2007 11:27am Sep 16, 2007 11:27am
Quoting karmostaji
I might have something on my PC if any of you can't find anything.

Karmo - what the thing you have now in your PC ? - me interested..Thanks
  • #27,366
  • Sep 16, 2007 11:34am Sep 16, 2007 11:34am
well until 234-235 levels are broken I'm still 100% short right now....but in the long term it could go up (I'd say after october)
  • #27,367
  • Edited 11:53am Sep 16, 2007 11:34am | Edited 11:53am
Looking at this first and foremost from a technical pov, aside from this mysterious 4 week ascending triangle, I think it's safe to say that b/c this is the Geppy, Thursday's candle we can call a Gravestone with a close below the TL followed by a bearish confirmation candle on Friday. And although we got that "where do we go from here" Spinning Top on Friday, it is slightly bearish and did bounce off a good 3 point trendline at around 233.30 on Friday into the reversal before coming up a bit before close of biz.

However, b/c it's the beginning of the trading week and a Japanese holiday, I would wait for further bearish confirmation in the way of another trendline bounce and/or a strong resistance showing at around 234.60-80 ish before selling the farm for our continuation down to 224.00 ish onto 218 and downward.

Good luck to all and be careful trading my ideas as you might end up working along side of me at my neighborhood McDonald's!

kt
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  • #27,368
  • Sep 16, 2007 11:42am Sep 16, 2007 11:42am
Yeah, I lost a pile of money too a few weeks ago when I followed someone blindly (not on this thread) who, by the way, doesn't believe in stop-losses. I got nailed by my own stupidity and bad choices. But, guess what? I won't make that same mistake again! Karmo encouraged me to think of it as my "tuition" costs, and that helped me to rearrange my thinking and pick myself up. Whoever lost $20,000 -- yeah, it hurts bad. But just pick yourself up and begin again. Life goes on.
  • #27,369
  • Sep 16, 2007 12:02pm Sep 16, 2007 12:02pm
GBP/JPY closed Friday near the week's average price. Possibly
indicative of indecision and ranging until Tuesday's US interest
rate release at 2:15 EDT. Today, being a Japanese holiday, will
contribute to less volatility in the market. Time will tell.
  • #27,370
  • Sep 16, 2007 12:19pm Sep 16, 2007 12:19pm
I want to draw your attention to the Hang Seng. It is in the final stages of a bubble.
Maybe it's a bit early still, as you never know how far the rally will go, but it will certainly crash.
Watch out for bearish signals and buy put options with a not too short expiration when you can be sure the top has formed.

I also read on a German website, that the Spanish real estate bubble is about to burst. In the last ten years prices have gone up as much as 400 %.
Most peaople have adjustable mortgage rates which are now going up.

Note: Decide for yourself, I am not responsible for possible losses.

Edit: But if you make profits, I will gladly accept donations.
  • #27,371
  • Edited 12:49pm Sep 16, 2007 12:32pm | Edited 12:49pm
Quoting Ash
That is why I don't trade blindly. Hopefully this person has learned his or her lesson. God Speed!

Aren't you the guy that turned a 5k$ account to 60k$ in like 2 weeks . . . . . what a joke . . . . please don't post this kind of garbage here in this thread and then 3 weeks later forget all about it and pretend to know what you are doing . . .

You might have increased your account 12 fold in 2 weeks as you claimed - and I am not goint to call y0u a liar but if that is true then you must also realize that you are promoting exactly the opposit of what Aussie, Karmo, and others have been trying so hard to teach about MM . . . What you claimed is possible - but you would have to trade @ 1:100 leverage or higher to achieve that outcome - even with the 500-800 pip daily moves that we saw at that time.

Here's that post incase you forgot . . . .

Quoting Ash
So true, last week I went with the flow. Shorted all the Yens on Monday morning ($5000.00), on wednesday, right before I flew out to London, my account was valued over $11,000 and when I turned on my computer Thrusday afternoon, I was blown away, my acocunt was valued at over $63,000 when I closed all the positions. I had a feeling that the Fed was going to screw with nature and try to reverse it's course. Thank God I did, becuase, Friday is when the Fed intervined and the stock market was in the positive again.

How long will they keep this up, I don't know but something has to give.
Oh . . Here's another one . . . where you increased your balance to 1400% in six weeks . . . .

Quoting Ash
Brother, what I would do (I am not recommending that you do this becuase anything can happen and I cannot take responsibility for anyone except for my own trades). If I didn't want to close my positions (which I would) I would buy into a different currency with whatever I have left over (only the ones that I know) and keep a low pip profit margin and build up my cash reserves until your positions clear. Otherwise, judging by what you have, had you only one position open (say -509 pips) you could possibly recover and and possibly hold out but since you have a hedge open but with huge gaps, you are bound to loose out on one of them.

The choice is yours. I know how hard it is to loose but sometimes we have to cut our losses, learn from our mistakes and move on. It may seem hard but with hard work, determination and hope, it can be done. I was down to $146.00 on my account a few months ago. I didn't give up. In about six weeks, my account went up from $146.00 to over $2100.00.

Good Luck!
  • #27,372
  • Sep 16, 2007 12:52pm Sep 16, 2007 12:52pm
Quoting brok
Honestly I don't think he was following the thread. There were lots of people insisting on the upwards channel and I as recall rite only person insisted on short was Karmo when the breakout happened and he even got profit successfully after closing the short and opening a long.... And I remember people talking about closing the losing short trade at the retracement.

that would be me

so i guess i'm the one to blame for that guy's loss
sorry...?
  • #27,373
  • Edited 1:26pm Sep 16, 2007 12:53pm | Edited 1:26pm
Quoting digitizer123
Aren't you the guy that turned a 5k$ account to 60k$ in like 2 weeks . . . . . what a joke . . . . please don't post this kind of garbage here in this thread and then 3 weeks later forget all about it and pretend to know what you are doing . . .

You might have increased your account 10+ fold in 2 weeks as you claimed - and I am not goint to call y0u a liar but if that is true then you must also realize that you are promoting exactly the opposit of what Aussie, Karmo, and others have been trying so hard to teach about MM . . . What you claimed is possible - but you would have to trade @ 1:100 leverage or higher to achieve that outcome - even with the 500-800 pip daily moves that we saw at that time.

Here's that post incase you forgot . . . .

Listen up you imbecile, I don't trade blindly. NEVER DID! Period! Prior to that, I made mistakes and I learned from them and moved on. When I started following this forum, I met Aus, Karm, Mark and the rest of the bunch who shared their ideas and trading techniques. Thanks to these gentleman I trade when I FEEL LIKE IT (from what I have learned and still am learnign from them), NOT WHEN SOMEBODY IS TAKING A TRADE (like some people on this thread) or when some one calls a trade.

As far as attacking my dignity and honor by calling me a liar, well, you are just are a peon looser who is having a bad day, week or time of month for you. I am at ease with what I have accomplished and where I am headed.

OH, YEAH, WHERE WERE YOU WHEN GY DROPPED A 1000 POINTS IN ONE DAY ALONG WITH AUD/YEN, NZD/YEN, EUR/YEN? I guess you weren't around when the party was happening or maybe you were holding onto the wrong end of the stick (ouch).

Good Luck! Take care! God Speed!

P.S. It wasn't in two weeks, it was actually in five days. I gambled. I saw the possibility if carry trades unwinding so I shorted three days earlier. I had also shorted AUD/USD, NZD/USD. My hunches paid off big time. I took a gamble. I won. When I did loose $12,000 in the beginning a few months ago, I didn't blame anyone. I had myself to blame. And yes, I raised the acocunt from $146 to a little over $2100 in six weeks. I did with the help of God who gave the patience and strength to carry on. My faith in God gives me the strength to fight on. Maybe you're having a bad day, week, time of month or it's just in your nature to attack others. So good luck to you! God Speed!

Maybe your fasting is bothering you? If so, may God teach you patience and the true meaning of Ramadan. Ameen!
Humble Lifetime Member
  • #27,374
  • Sep 16, 2007 12:57pm Sep 16, 2007 12:57pm
i got 231.150 on oanda right now
  • #27,375
  • Sep 16, 2007 1:01pm Sep 16, 2007 1:01pm
One of my brokers opened @ 231.21 , seems like very small gap (10 pips)
Trade what you see, not what you think.
  • #27,376
  • Sep 16, 2007 1:05pm Sep 16, 2007 1:05pm
Don't forget....
Northern Rock withdrawals at £2bn
People with accounts at the Northern Rock have withdrawn almost £2bn since Friday, the BBC's business editor Robert Peston has learned.
And the firm is bracing itself for more withdrawals in the coming days.
It is also understood that the Northern Rock was close to being sold to one of two UK banks before it sought emergency funding from the Bank of England. However, these deals fell through because of the difficulty of borrowing money in the current financial climate.


http://news.bbc.co.uk/1/hi/business/6997264.stm

We'll have to wait and see how the markets react to the
Humble Lifetime Member
  • #27,377
  • Sep 16, 2007 1:22pm Sep 16, 2007 1:22pm
G'mornng, Hope everyone had a good weekend sofar I had 11 trades last week. 263 pips profit. But only 4 profitable trades.. 6 trades hit my 60 pip SL. This was mainly due to the sideways market we saw on better part of last week. From this week I'm trying different methods to filter out bad trades. Two level stop indicators with Daily pivot points start @ 7GMT is one method I'm keen to test this week. Everything seem very clear when you add the pivots.. here's a screen shot.
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  • #27,378
  • Sep 16, 2007 1:29pm Sep 16, 2007 1:29pm
Quoting auslanco
G'mornng, Hope everyone had a good weekend sofar I had 11 trades last week. 263 pips profit. But only 4 profitable trades.. 6 trades hit my 60 pip SL. This was mainly due to the sideways market we saw on better part of last week. From this week I'm trying different methods to filter out bad trades. Two level stop indicators with Daily pivot points start @ 7GMT is one method I'm keen to test this week. Everything seem very clear when you add the pivots.. here's a screen shot.
I have been using pivot points along with Fib's. They give me a much clearer picture.
Humble Lifetime Member
  • #27,379
  • Sep 16, 2007 1:30pm Sep 16, 2007 1:30pm
Quoting Ash
Listen up you imbecile, I don't trade blindly. NEVER DID! Period! Prior to that, I made mistakes and I learned from them and moved on. When I started following this forum, I met Aus, Karm, Mark and the rest of the bunch who shared their ideas and trading techniques. Thanks to these gentleman I trade when I FEEL LIKE IT, NOT WHEN SOMEBODY IS TAKING A TRADE.

As far as attacking my dignity and honor by calling me a liar, well, you are just are a peon looser who is having a bad day and or week. I am at ease with what I have accomplished and where I am headed.

OH, YEAH, WHERE WERE YOU WHEN GY DROPPED A 1000 POINTS ALONG WITH AUD/YEN, NZD/YEN, EUR/YEN? I guess you weren't around when the party was happening or maybe you were holding onto the wrong end of the stick (ouch).

P.S. it wasn't in two weeks, it was actually in five days.



Ashish, Ashok or what ever your real name is - listen Kid . . . You are dealing with someone who have been around for a lot longer than your 2 months in this thread - I know - I have been with this group before even Aussie started this thread - and the YM group - or even the the old Y/J thread - and I read everything, know who is who . . . . I just don't post to kiss up like yourself.

not everyone here is trading demos or a few grand like you are- some are making/losing more in a day than your entire account and that is utilizing proper MM - risking 1% . . .

Do your math you moron . . . what was your leverage required to go 5k to 60k in a week even with 600-1000 pip moves a day?????
That's all I am saying - not calling you a lier but your cowboy posts is contridicting everything being thaught here.
  • #27,380
  • Sep 16, 2007 1:32pm Sep 16, 2007 1:32pm
Wow.. Just received this PM. Hope jacson can give us some more detailed tips on how they trade using the fundies..

Quoting jacson101
Dear friend,
I've noticed your thread here on FF and have been reading it for sometime now.
I would just like to personally commend you for your hard work and accomplishments thus far.

By the way, Do you know you're system is almost identical to what we use on our institutional desk here in Canada.
The only difference is we have a need to match fundies with tech's before taking a position which kinda holds us back from the proverbial 100% monthly returns, but that's life as they say.

Anyway,
I do hope you get a chance to read my private message as your work is breath of fresh air!

Best Regards,
Your friend from the other side of the world.
Jack
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