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

  • #40,701
  • Oct 16, 2007 8:40pm Oct 16, 2007 8:40pm
if the house is rocking don't bother knocking ultimate upside target 242.00
  • #40,702
  • Oct 16, 2007 8:40pm Oct 16, 2007 8:40pm
Quoting haliker
I have been lurking on this thread now for about 3 weeks and would just like to say thanks to all for any advice that has been offered up. I am fairly new to forex and just starting my first live account.

I am using aus 15 min EA and would like to know what types of programs some of you are using and with what success.

Also any advice on keeping the nerves in check with the constantly changing forex market? (I am only kidding with the last one) I accept the stress as part of the gig.

Thanks in advance for any help anyone offers up and if any of you want to take a pupil under your wings I am a more than willing student.
The only way to keep your nerves in check is to use proper money management. As long as you know that you can only lose a small amount of your account on a bad trade, it makes life a lot easier. It is totally against human nature to close a losing position, because you always think it will turn around on you. But it will kill you. You cannot have a gamblers mentality. It will wipe you out in forex just as quickly as it will wipe you out in Vegas.

Do your analysis for your trade, determine how big your stop needs to be (with GJ it needs to be big) and make sure that your trade is small enough that the dollar amount you lose if you hit your stop is less than 2-3% of your account.
  • #40,703
  • Oct 16, 2007 8:41pm Oct 16, 2007 8:41pm
Quoting wired2199
My Ichimoku cloud settings are 7,22,44. My looks a little diff. what are your settings and why?

thank youhttp://www.forexfactory.com/images/icons/dollar.gif

Bro,
Please check my previous posts. Thanks.
  • #40,704
  • Oct 16, 2007 8:41pm Oct 16, 2007 8:41pm
i hope everyones pimping it !
  • #40,705
  • Oct 16, 2007 8:41pm Oct 16, 2007 8:41pm
well i missed this slide. lol
  • #40,706
  • Oct 16, 2007 8:43pm Oct 16, 2007 8:43pm
4hr 100sma reached--first tgt reached
  • #40,707
  • Oct 16, 2007 8:45pm Oct 16, 2007 8:45pm
I am pleasantly surprised at the willingness of people on this board to help newbies. I dont want to just follow when someone says get in now or get out now, but it is tough sometimes to catch the trends when they are new to you. And you are right about the holding on to a trade for too long and thinking it will turn. I have to laugh at myself sometimes when I want to clear my stop loss and thankfully I dont 99% of the time.
  • #40,708
  • Oct 16, 2007 8:45pm Oct 16, 2007 8:45pm
Target reached
Thanks every one
  • #40,709
  • Oct 16, 2007 8:45pm Oct 16, 2007 8:45pm
The 4h/1h system looks about to give a signal-h1 looks about to cross down.
  • #40,710
  • Oct 16, 2007 8:46pm Oct 16, 2007 8:46pm
Quoting haliker
I have been lurking on this thread now for about 3 weeks and would just like to say thanks to all for any advice that has been offered up. I am fairly new to forex and just starting my first live account.

I am using aus 15 min EA and would like to know what types of programs some of you are using and with what success.

Also any advice on keeping the nerves in check with the constantly changing forex market? (I am only kidding with the last one) I accept the stress as part of the gig.

Thanks in advance for any help anyone offers up and if any of you want to take a pupil under your wings I am a more than willing student.
I'm in no position to be teaching anybody, I'm only a year or so further down the line from you but since I've been reading this thread I've learnt a great deal and my profitability has gone through the roof. With it being a forum 'organic' discussion rather than a structured lesson, and many of the big boys employing their own slant on the strategy, it can get a little complicated. But on the other hand there are many tech wizards (with a sprinkling of fundamentals from the resident economic analyst Markam) - pretty much an inexhaustible gold mine of trading knowledge.

In my opinion the most important thing to learn about especially if you've just opened a live account is the money management. If you know how much you're comfortable with losing and incorporate that into your stops and position sizes then it's bound to take the stress out of it. Larry Williams discusses this amongst other things in an excellent video you can get from http://tv.ino.com/free/

MACD is a great tool which goes well with this strategy in my experience and you can find some good videos about it on youtube if you're not already familiar with it (tap me up if you want a better macd than the standard mt4 one).

Good luck!
  • #40,711
  • Oct 16, 2007 8:47pm Oct 16, 2007 8:47pm
Quoting Hakuna Matata
bro--where the hell were u yesterday---didnt i tel u about the severe downpour--hope u were sleeping with the raincoat on

im short and ready for the nxt drop---first t/o 4hr 100sma

wont be trading much today--ive turned an extra yr older today and thinking of taking it easy

will be popping around now and then

have fun guys

great team we have here--and i mean everyone in here --live larger guys
Hope your BD is full of pippies and fun!
  • #40,712
  • Oct 16, 2007 8:52pm Oct 16, 2007 8:52pm
Quoting nikkipip4
Hope your BD is full of pippies and fun!

thanks

closed 2 positions--lookin for nxt entry
  • #40,713
  • Oct 16, 2007 8:52pm Oct 16, 2007 8:52pm
Nikkei is tanking
Attached Image
  • #40,714
  • Oct 16, 2007 8:54pm Oct 16, 2007 8:54pm
should I stay in this short that I have already claimed 40 pips from or ride it out
  • #40,715
  • Oct 16, 2007 8:54pm Oct 16, 2007 8:54pm
4hr canlde closes in 1hr 10min
ive got my confirmed 1hr short signa in additon to otehrs
close below 100sma 4hr--and this will rock
  • #40,716
  • Oct 16, 2007 9:08pm Oct 16, 2007 9:08pm
Hi everyone,

What is the correlation between Nikkei Index and GJ? Nikkei close lower will bring GJ down as well? Hope you guys can clear my doubt
  • #40,717
  • Oct 16, 2007 9:09pm Oct 16, 2007 9:09pm
Quoting Hakuna Matata
bro--where the hell were u yesterday---didnt i tel u about the severe downpour--hope u were sleeping with the raincoat on

im short and ready for the nxt drop---first t/o 4hr 100sma

wont be trading much today--ive turned an extra yr older today and thinking of taking it easy

will be popping around now and then

have fun guys

great team we have here--and i mean everyone in here --live larger guys
Happy B-Day HMhttp://forexfactory.com/images/icons/icon12.gif
Think BIG!
  • #40,718
  • Oct 16, 2007 9:10pm Oct 16, 2007 9:10pm
ps--we just got a bounce of the 50ema daily--lovely are to scalp some pips from--i missed it!
  • #40,719
  • Oct 16, 2007 9:10pm Oct 16, 2007 9:10pm
Quoting Hakuna Matata
4hr canlde closes in 1hr 10min
ive got my confirmed 1hr short signa in additon to otehrs
close below 100sma 4hr--and this will rock

May i know what is your 1 hour short signal conformation...Could you tell us more...TY
  • #40,720
  • Oct 16, 2007 9:11pm Oct 16, 2007 9:11pm
Quoting 1ADB
Happy B-Day HMhttp://forexfactory.com/images/icons/icon12.gif
thanks
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