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

  • #42,581
  • Oct 21, 2007 11:43pm Oct 21, 2007 11:43pm
Quoting haliker
Unfortunately I am only working with a small account so I cant afford to do the patient huge setup trades, i.e. having it possibly go the wrong way for over 100 pips.
Just make sure you do not risk more than 2% of your account. Trade micro lots, then a 100 pip loss on G/J is just USD$9.
  • #42,582
  • Oct 21, 2007 11:44pm Oct 21, 2007 11:44pm
Quoting auslanco
todays daily momentum gives me hots
yeah today is bearish indeed, and downtrend should continue after london opens most probably, 231.50 area is the next target based on my fibs.
Trade what you see, not what you think.
  • #42,583
  • Oct 21, 2007 11:45pm Oct 21, 2007 11:45pm
Quoting pipdiddy
Aus, I'm just learning your system so please teacher correct me if I am wrong. Didn't we just get a buy signal on the 15m chart a short while ago at around 233.25?

No.. you only go with 1hr 100sma. 1hr 100sma is the trend for 15min strategy. However as M2B pointed out you can collect your profits on 50ema's and 100sma on the 15min TF .. when you take a strategy signal against the 1hr 100sma trend.
  • #42,584
  • Oct 21, 2007 11:45pm Oct 21, 2007 11:45pm
Quoting FXStudent
How about a statement like aus do ?

are u just bored or have u lost the plot??

i guess noone here is entertaining u nitwit !

learn to trade and be wise and keep your comments within

read what your name says
  • #42,585
  • Oct 21, 2007 11:45pm Oct 21, 2007 11:45pm
Now, I am confused,
Aus looks estimate bull for this week and bear for today
correct me if I am wrong
  • #42,586
  • Oct 21, 2007 11:47pm Oct 21, 2007 11:47pm
Quoting pipdiddy
Aus, I'm just learning your system so please teacher correct me if I am wrong. Didn't we just get a buy signal on the 15m chart a short while ago at around 233.25?
Hi pip, aus just answered that a few posts above that the price is below 1h 100sma. also there is no qqe cross up on the 1 h. hope this helps
  • #42,587
  • Oct 21, 2007 11:47pm Oct 21, 2007 11:47pm
Quoting karmostaji
Looking at the weekly momentum on VT just gives me chills, very very very VERY bullish!

I completely agree, this week will end up a bull candle, I fully expect it to hit 239 area at least, based on regression analysis.

Today however I'm not sure, short term I am bearish but I'd like this gap to fill first.
  • #42,588
  • Oct 21, 2007 11:50pm Oct 21, 2007 11:50pm
Quoting auslanco
But the Price is below the 1hr 100sma
Aus, just my 1 cent. I am not quite sure why 100 ma is a necessary condition. although I agree that 100 ma can be a good reference indicating the recent price level.

Since this is a short-term strategy, price is possible either retreating from oversold/bought to 100 ma or rally from 100 ma to overbought/sold. Honestly wondering, this 100 ma filter bad trades almost as many as good trades.

Well, actually, just my 1 cent question, i have no idea at all.
  • #42,589
  • Oct 21, 2007 11:50pm Oct 21, 2007 11:50pm
Quoting Hakuna Matata
hi bro

i actually was trgting t/p long for g/j at 15min 5oema --well more aorund 234 (all this is mentioned in the journal)-- but took profits early
im already short at 234--limit order was placed
i discussed that in the journal too

all im waiting for a confriemd 1/2 hr signal short and this baby will ride further down
s/l is tight
I do see that the new 4H 5SMA on my charts is right around 234.05. I took partial profits on my long but I'm still holding a couple positions. 15M and 30M are OB but 1H and 4H still have room to move up on Stochastics. My last positions are locked into profit so I'm not concerned about them. I did read your analysis for the week, bro. Good stuff there. I have really enjoyed following the trades and analysis you post in this thread. It's been a huge learning experience for me. Appreciate it. Keep up the good work.

M2B
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  • #42,590
  • Oct 21, 2007 11:50pm Oct 21, 2007 11:50pm
Quoting karmostaji
Looking at the weekly momentum on VT just gives me chills, very very very VERY bullish!
u meant Geppie right? You're kidding right? it looks like a typical head and shoulders forming up....and the momentum is definitely weaker....
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  • #42,591
  • Oct 21, 2007 11:53pm Oct 21, 2007 11:53pm
Quoting GJtrader
Now, I am confused,
Aus looks estimate bull for this week and bear for today
correct me if I am wrong
yess

Today Daily is Bearish,

Weekly is bullish.



Pic: these are not exact price levels.. Just to give you a basic idea about the weekly direction.
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  • #42,592
  • Oct 21, 2007 11:54pm Oct 21, 2007 11:54pm
Quoting Hakuna Matata
are u just bored or have u lost the plot??

i guess noone here is entertaining u nitwit !

learn to trade and be wise and keep your comments within

read what your name says
  • #42,593
  • Oct 21, 2007 11:56pm Oct 21, 2007 11:56pm
Quoting auslanco
But the Price is below the 1hr 100sma
thanx Mr Auslanco to remind me about the 100sma...
  • #42,594
  • Oct 21, 2007 11:56pm Oct 21, 2007 11:56pm
Quoting jest1081
u meant Geppie right? You're kidding right? it looks like a typical head and shoulders forming up....and the momentum is definitely weaker....
No mate , he's not kidding. come back on Friday and you will realize.
  • #42,595
  • Oct 21, 2007 11:59pm Oct 21, 2007 11:59pm
Quoting my2buoys
I do see that the new 4H 5SMA on my charts is right around 234.05. I took partial profits on my long but I'm still holding a couple positions. 15M and 30M are OB but 1H and 4H still have room to move up on Stochastics. My last positions are locked into profit so I'm not concerned about them. I did read your analysis for the week, bro. Good stuff there. I have really enjoyed following the trades and analysis you post in this thread. It's been a huge learning experience for me. Appreciate it. Keep up the good work.

M2B
i personally doubt we will see anything higher then 30min 50ema
ldn boys should bring more action
bro--my trades are not posted here anymore--all posted live in the journal now
Its good to see how this thread since last week is getting free from everyone posting their trades/scalps
analysis and opinions are good from everyone
difference of opinions will always exist
as long as one makes pips and $-- one will remain happy

its good to see when all the 1kt/senior members are in agreement to a direction of a trade--it just rocks the mood

happy trading to all
  • #42,596
  • Oct 22, 2007 12:05am Oct 22, 2007 12:05am
Hey Haku, I just went short on GJ as well.. based on fundamentals of course. G7 repercussions should start from London onwards, as you mentioned - I don't know what Frankfurt will do - might push it up a bit (temporarily) but not a massive spike or anything like that. (logically of course)
  • #42,597
  • Oct 22, 2007 12:07am Oct 22, 2007 12:07am
Quoting charvo
Aus, just my 1 cent. I am not quite sure why 100 ma is a necessary condition. although I agree that 100 ma can be a good reference indicating the recent price level.

Since this is a short-term strategy, price is possible either retreating from oversold/bought to 100 ma or rally from 100 ma to overbought/sold. Honestly wondering, this 100 ma filter bad trades almost as many as good trades.

Well, actually, just my 1 cent question, i have no idea at all.
Bro..I agree with you. The reason we adopted the 1hr 100sma to filter out bad trades during the ranging markets. It's hard to create a bullet proof strategy for both ranging and trending markets. Speacially for a newbie who has no idea about the price action, this is a good way to enter the market to go with the trend. However for an expereince trader can enter the market during high volatile price action like now and collect his pips without waiting for the 1hr 100sma.
  • #42,598
  • Oct 22, 2007 12:09am Oct 22, 2007 12:09am
momentum setting is 14 10 & 1 right ? for 15m strategy ?
I only use 10C on VT now
  • #42,599
  • Oct 22, 2007 12:17am Oct 22, 2007 12:17am
Financial bookmakers, or spread betters, in London expected Britain's FTSE
100 (.FTSE: Quote, Profile, Research) index to open between 115 and 117 points lower, the German DAX
(.GDAXI: Quote, Profile, Research) 154 to 162 points lower and the French CAC 40 (.FCHI: Quote, Profile, Research) 121 to 140 points lower.

It is just a wave of fear moving around the world
  • #42,600
  • Oct 22, 2007 12:19am Oct 22, 2007 12:19am
Quoting markam

It is just a wave of fear moving around the world
Yep.. when one market panics.. the others latch on to it.. and before you know it everyone's jumping out the window. Best times to make profits imo.
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