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

  • #34,681
  • Oct 1, 2007 4:02am Oct 1, 2007 4:02am
Quoting gtt
If I recall correct, you've a 1 pip = 1K account? If you do as Aus does you'd be getting over 100K profit (at least one 15 Min strat of 120 pips on gbp/jpy).
Big money on small movement is good.. but i am not sure if it would be considered for large movement
  • #34,682
  • Oct 1, 2007 4:05am Oct 1, 2007 4:05am
is there a pivot theory or sum thing that helps you see this event?thanks
Quoting auslanco
Bullish month
  • #34,683
  • Oct 1, 2007 4:05am Oct 1, 2007 4:05am
Quoting Syafi
Big money on small movement is good.. but i am not sure if it would be considered for large movement
IMHO. One who want to make money consistently should stop hunting for the large and should content themselves with small to mid movements...
.
  • #34,684
  • Oct 1, 2007 4:07am Oct 1, 2007 4:07am
Quoting gtt
If I recall correct, you've a 1 pip = 1K account? If you do as Aus does you'd be getting over 100K profit (at least one 15 Min strat of 120 pips on gbp/jpy).

Aus I've got recorded 236.47 on bid, kinda sucks to have a pip miss. But it's better than over a pip in a stop loss and turn, but we'll get there
I have several different lot sizes for each scalping system I use.

I have one system that I trust completely, all the others are still a work in progress, or I may just trade on a candle formation such as today, which may only get 10 or 20 lots, depending on the type of candle I am pursuing.

I only had one trade with my system here today, but all the requirements for perfect entry did not line up, so in those cases, I lower the lot sizes because of the chance of error.

Trading is a "make a decision now" type of job, and there are times the system does not form perfect to my liking, and those trades are usually the ones you have to be careful with.

I have all of Auslanco's system on my computer, but I lack one indicator still, and that is the hold on my trading his entry and exits. I have asked for assistance on the QQE for MT4, I have it on my charts, but they have never looked like any of those posted by others who are trading this system.

Until then, I will read and follow the thread and try to learn the best I can with what I have.
  • #34,685
  • Oct 1, 2007 4:07am Oct 1, 2007 4:07am
Quoting gtt
If I recall correct, you've a 1 pip = 1K account? If you do as Aus does you'd be getting over 100K profit (at least one 15 Min strat of 120 pips on gbp/jpy).

Aus I've got recorded 236.47 on bid, kinda sucks to have a pip miss. But it's better than over a pip in a stop loss and turn, but we'll get there
Monarch's usual 30 full lots would have got him $30960 on that trade.
  • #34,686
  • Oct 1, 2007 4:09am Oct 1, 2007 4:09am
Quoting monarch
We broke the 235.50 barrier and reached a new high of 236.47, news for GBP was moderately calm, so your correct, we should find some ranging here while we wait for the upcoming ISM manufacturing news from the US.

I would think the 236.01 R-1 should be our median with 235.50 support now, and 236.47 as our resistance.

This could also be a scalpers delight, too bad I am tired now and have too sleep. LOL

You take care of all these traders who are looking for this great breakout in the next few hours.

Ken
Any1 have R-1 at 236.01
  • #34,687
  • Oct 1, 2007 4:12am Oct 1, 2007 4:12am
Quoting bullrock
IMHO. One who want to make money consistently should stop hunting for the large and should content themselves with small to mid movements...
So true.

The small trades with larger lots are much easy to come by then a large trade with a large drawdown.

I am very content with only 10 pips profit per day, just happens I made a bit more today. LOL

Nice signature Bullrock.

Ken
  • #34,688
  • Oct 1, 2007 4:15am Oct 1, 2007 4:15am
Quoting monarch
So true.

The small trades with larger lots are much easy to come by then a large trade with a large drawdown.

I am very content with only 10 pips profit per day, just happens I made a bit more today. LOL

Nice signature Bullrock.

Ken
That is my strategy and since I am doing this I started to get back what I have fed into FX (roughly 40K)
.
  • #34,689
  • Oct 1, 2007 4:16am Oct 1, 2007 4:16am
Quoting monarch
So true.

The small trades with larger lots are much easy to come by then a large trade with a large drawdown.

I am very content with only 10 pips profit per day, just happens I made a bit more today. LOL

Nice signature Bullrock.

Ken
Thanks monarch
.
  • #34,690
  • Oct 1, 2007 4:17am Oct 1, 2007 4:17am
Quoting comeinvest
Any1 have R-1 at 236.01
So far since the Market open we have had a low of 234.67 and a high of 236.47, this makes our median price at 235.57, which is just above the previous resistance breached today.

I would think that if we break above the 236.47, we would press upwards for another estimated 90 pips.

That would put us at 237.37 area, which is 13 pips below the next resistance line at 237.50.

NOTE: UJ should find some strong resistance at 115.88 area, just 30 pips higher, this would slow the move upwards on the GJ a bit.
  • #34,691
  • Oct 1, 2007 4:18am Oct 1, 2007 4:18am
Quoting auslanco
Monarch's usual 30 full lots would have got him $30960 on that trade.
Someday, will get there, I hope.

I've come out of the position too early today, because everyone was ready for a retracement, but it doesn't and goes to my original TP, 236.45+2, and on Aud/jpy it's still grinding higher. But I'm happy with 136 pips total. Other day, I came out of losing position with +35Pips. Pure luck.
  • #34,692
  • Oct 1, 2007 4:24am Oct 1, 2007 4:24am
Quoting gtt
Someday, will get there, I hope.

I've come out of the position too early today, because everyone was ready for a retracement, but it doesn't and goes to my original TP, 236.45+2, and on Aud/jpy it's still grinding higher. But I'm happy with 136 pips total. Other day, I came out of losing position with +35Pips. Pure luck.
yehh...on my 15min strategy trade today I came out with a 7pip loss only to see it hits my anticipated profit target of 120pips in just 2 hours. Thats just trading I guess.. Better to be safe than sorry.
  • #34,693
  • Oct 1, 2007 4:25am Oct 1, 2007 4:25am
Quoting monarch
So true.

The small trades with larger lots are much easy to come by then a large trade with a large drawdown.

I am very content with only 10 pips profit per day, just happens I made a bit more today. LOL

Nice signature Bullrock.

Ken
I was never good at scalping.. regardless of what system I used. For me, only fundamental trading works, and it works flawlessly. Only thing is, you have to be very patient with that, as opportunities do not present themselves on a daily basis.

Edit - Looking at the charts, I wonder if.. carry trades are back! AUd/JPY is now only 200 pips away from it's peak (before the july crash)
  • #34,694
  • Oct 1, 2007 4:29am Oct 1, 2007 4:29am
Aus.. what's the minimum trade requirement on FXCM cnx platform? I emailed their sales team 3 days ago but they haven't replied back.. hoping you have info. Thanks!
  • #34,695
  • Oct 1, 2007 4:31am Oct 1, 2007 4:31am
Quoting VishalJ
I was never good at scalping.. regardless of what system I used. For me, only fundamental trading works, and it works flawlessly. Only thing is, you have to be very patient with that, as opportunities do not present themselves on a daily basis.

Edit - Looking at the charts, I wonder if.. carry trades are back! AUd/JPY is now only 200 pips away from it's peak (before the july crash)
I have tried many systems in my days of learning, you can even go to the Cable thread I started a while back. Thru the many systems and analysis, which I still use in my scalping trades, I have come to understand a few things which has been beneficial with my scalping style.

Even though I have a full screen of charts in front of me, I prefer watching price action and taking advantage of the moves with a quick hit called scalping. There are times that I fail, which we all have to deal with, but overall my trades are usually the same thing over and over.

I like the analysis part of trading, that is why I remain at Forex Factory, I really enjoy chatting and reading everyones ideas and analysis.

Once a trader loses contact with other traders and quits trying new things, then he/she is stuck with another full time boring job, who wants to do just that?

NOT ME. I can make money and chat at the same time, enjoying the company of others like me.
  • #34,696
  • Oct 1, 2007 4:32am Oct 1, 2007 4:32am
UJ has reached a tough resistance area, and GU wants to retrace
Trade what you see, not what you think.
  • #34,697
  • Oct 1, 2007 4:36am Oct 1, 2007 4:36am
Quoting VishalJ
Aus.. what's the minimum trade requirement on FXCM cnx platform? I emailed their sales team 3 days ago but they haven't replied back.. hoping you have info. Thanks!
They will fix your spread according to your trade volume.

My package is Min $20million a month for .05- 1.5 pips on Eur/Usd, UJ and 3-6 pips GJ

If you can give 'em 50million Volume per month .05-1 pips on Eur/USD,UJ and 3-4 GJ
  • #34,698
  • Oct 1, 2007 4:37am Oct 1, 2007 4:37am
Quoting monarch

NOT ME. I can make money and chat at the same time, enjoying the company of others like me.
True mate, and it's great to be in company of experienced pros like you, Aus, karmo, zoran - everyone - (hakuna doesn't count because he makes 500 pips a day lol.. he's just pip hungry)

There's a wealth of information here to be accessed by newbies and pros alike.
  • #34,699
  • Oct 1, 2007 4:39am Oct 1, 2007 4:39am
Quoting VishalJ
I was never good at scalping.. regardless of what system I used. For me, only fundamental trading works, and it works flawlessly. Only thing is, you have to be very patient with that, as opportunities do not present themselves on a daily basis.

Edit - Looking at the charts, I wonder if.. carry trades are back! AUd/JPY is now only 200 pips away from it's peak (before the july crash)
Monarch scalps on Eur/Jpy where spread is 4pips at most, but if we try his method on GBP/JPY we'll get slaughtered, I'd presume. I've 9 pip spread

The guy who publishes (pfxforex- i believe) his video on FF showed a Aud/jpy Fibonacci and was aiming at 107 something, so I've taken a look, it's nice ride up plus cool interest, it doesn't retrace much tough if you get out early. But since this week we've a Aussie interest rate it'll be quite/very volatile. (Also Britain has interest rate too) Just something to look at if gbp/jpy is dead still or ranging.
  • #34,700
  • Oct 1, 2007 4:42am Oct 1, 2007 4:42am
Quoting VishalJ
True mate, and it's great to be in company of experienced pros like you, Aus, karmo, zoran - everyone - (hakuna doesn't count because he makes 500 pips a day lol.. he's just pip hungry)

There's a wealth of information here to be accessed by newbies and pros alike.
LOL, I would like to clear 500 pips a day.

I just took in 7 pips on GJ on the 5 minute candle formation alone, now I believe anyone could sit there and make those kind of trades all day long, but 500 pips WOW> I need lots of help.
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