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

  • #35,001
  • Oct 1, 2007 2:40pm Oct 1, 2007 2:40pm
Quoting wog
karmo, thanks or answerin my question,like how long will we experience the us pivot levl 235.10?
Maybe after the US stock market closes (about an hour to go), not sure.. but I'm staying out until a trade comes to me, no need to jump the gun and burn my butt.
Trade what you see, not what you think.
  • #35,002
  • Oct 1, 2007 2:40pm Oct 1, 2007 2:40pm
  •  jmatt
  • | Joined Jul 2007 | Status: Forex is great, God is better!!! | 60 Posts
Quoting goonergonebad
This is probably a feed into a scam...

Beware!
they trade with virtual money...not real money
  • #35,003
  • Oct 1, 2007 2:43pm Oct 1, 2007 2:43pm
Quoting markam
the stock market has pushed GJ way into overbought range, since they move together. Once the stock market is moving down, GJ will also.
I agree on this occasion, but would respectfully point out the weekly is still a long way off overbought (but it stayed in the "overbought" area from May 06 until February 07), and the H4 is overbought stochastically but also has been known to stay up in that area for days and even weeks when the carry trade is performing as we like it to.

Like you, though, I have a funny feeling that the DOW will not be able to perform this handstand much longer.
Gone to a better place
  • #35,004
  • Oct 1, 2007 2:44pm Oct 1, 2007 2:44pm
236.20

this is the level i am watching
a close above it i might aim short until 234.50
  • #35,005
  • Oct 1, 2007 3:02pm Oct 1, 2007 3:02pm
15min and 30min candles have both closed below the Gann. More bearish signs adding up.
  • #35,006
  • Oct 1, 2007 3:02pm Oct 1, 2007 3:02pm
Quoting konrad20
Hello all

I've been doing some reading, and stumbled across the 2007 Automated Trading Championships thread/webpage. The event started today, and many of the traders are trading GBP/JPY. I've noticed some of them opened their positions long this morning, and have T/P set in the 239 range. Thought it might be interesting to see what their systems are coming up with.

Current trader in first place is up $6000 on his trade already, 1st day isn't complete yet.

http://championship.mql4.com/2007/users
Did you notice the top 3 are all long the g/j @23496 no S/l or T/P
the only difference between the 1st 2nd and 3rd place is position size.
  • #35,007
  • Oct 1, 2007 3:03pm Oct 1, 2007 3:03pm
Quoting jmatt
they trade with virtual money...not real money
Just an observation about the sponsoring web site - Hey, I could of course be wrong - but I have (over recent weeks) been inundated with emails from various uninvited sources enticing me to check out a similar oppotunity on this type of web site and join them in proving their mega pip making strategy.

It is a great idea, but probably better sponsiored from a site such as FF. IMO.
  • #35,008
  • Oct 1, 2007 3:21pm Oct 1, 2007 3:21pm
Quoting goonergonebad
Just an observation about the sponsoring web site - Hey, I could of course be wrong - but I have (over recent weeks) been inundated with emails from various uninvited sources enticing me to check out a similar oppotunity on this type of web site and join them in proving their mega pip making strategy.

It is a great idea, but probably better sponsiored from a site such as FF. IMO.
Sponsors are ODL Securities Limited, FXDD, and Alpari Limited ; TRADERS' magazine is the media sponsor; event organizer is MetaQuotes Software (Metatrader)

I wasn't aware that MetaQuotes could not be trusted. Will keep that in mind.
  • #35,009
  • Oct 1, 2007 3:23pm Oct 1, 2007 3:23pm
  •  jmatt
  • | Joined Jul 2007 | Status: Forex is great, God is better!!! | 60 Posts
Quoting goonergonebad
Just an observation about the sponsoring web site - Hey, I could of course be wrong - but I have (over recent weeks) been inundated with emails from various uninvited sources enticing me to check out a similar oppotunity on this type of web site and join them in proving their mega pip making strategy.

It is a great idea, but probably better sponsiored from a site such as FF. IMO.
true...been getting them too...annoying
  • #35,010
  • Oct 1, 2007 4:04pm Oct 1, 2007 4:04pm
New daily bar on VTtrader and momentum is very bearish, so daily 5sma is due IMO and thats around 235, so I guess 235.50 will be our support, possible long trade from there up to my daily 61.8% which is 238.95, that's about 400 pips.

I will go by the rules and system, so have some patience and let the trade come to you
Trade what you see, not what you think.
  • #35,011
  • Oct 1, 2007 4:04pm Oct 1, 2007 4:04pm
its seems new york has close, hopefuly, i think there should be a kind of short till 235.10.
  • #35,012
  • Oct 1, 2007 4:12pm Oct 1, 2007 4:12pm
daily momentum turned way down, so we will hopefully see a retrace to the daily sma
  • #35,013
  • Oct 1, 2007 4:17pm Oct 1, 2007 4:17pm
Quoting karmostaji
Maybe after the US stock market closes (about an hour to go), not sure.. but I'm staying out until a trade comes to me, no need to jump the gun and burn my butt.
Sounds to me like you were overtrading a bit and perhaps chasing a loss. Time to step back a bit and as you say, let them come to you. Even take a day or two off to refresh a bit.
  • #35,014
  • Oct 1, 2007 4:25pm Oct 1, 2007 4:25pm
DOW chart attached and the weekend removed from the cycle (MT4 problem, not mine). Therefore, next cycle period will come this Wednesday (3rd Oct). Is that the big day?
Attached Image (click to enlarge)
Click to Enlarge Name: dow-daily.gif Size: 15 KB
  • #35,015
  • Oct 1, 2007 4:31pm Oct 1, 2007 4:31pm
Quoting konrad20
Sponsors are ODL Securities Limited, FXDD, and Alpari Limited ; TRADERS' magazine is the media sponsor; event organizer is MetaQuotes Software (Metatrader)

I wasn't aware that MetaQuotes could not be trusted. Will keep that in mind.
Sorry Konrad, I am now so conditioned to closing my thoughts to email notification for this type of web based event that I have become biased against anything of this nature and probably lazy with regard to assessing the potential associated merits. I am therefore guilty of not taking time to look into who the sponsors were for this particular competition, before shooting my mouth off.
You are right of course, you would expect these honest and upright organisations to have all traders best interests at heart...
  • #35,016
  • Oct 1, 2007 4:43pm Oct 1, 2007 4:43pm
the market is dull for now i think till asian time, we will have a bearish trend down till 235 or so.
  • #35,017
  • Edited 5:03pm Oct 1, 2007 4:52pm | Edited 5:03pm
If the 5 SMA emphatically goes below the slower moving average on 2 or more Yen crosses by Frankfurt\London tomorrow, I think we could see the bears going down to the woods for a substantial picnic.
Attached Image (click to enlarge)
Click to Enlarge Name: 2300UK.jpeg Size: 479 KB
  • #35,018
  • Oct 1, 2007 4:59pm Oct 1, 2007 4:59pm

market slowly changing from bull to bear i think regardless the price..

Quoting wog
the market is dull for now i think till asian time, we will have a bearish trend down till 235 or so.

"Analysis Is Hard But Trade Is Easy"
  • #35,019
  • Oct 1, 2007 5:01pm Oct 1, 2007 5:01pm
Quoting Se[V]eN

market slowly changing from bull to bear i think regardless the price..



Agreed. Im waitingfor a small jump up to the 45-50 area to get in at a better price. This is just going to be a small trade as the trend is still up so i will probably be targeting only 30 to 40 pips. Good luck everyone with your trades.
I dream, therefore I become.
  • #35,020
  • Oct 1, 2007 5:06pm Oct 1, 2007 5:06pm
mornin everyone

ive shorted g/j at 236.52
s/l 20-25 pips
t/p 75-100 pips
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