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

  • #43,461
  • Oct 23, 2007 8:29pm Oct 23, 2007 8:29pm
Im Trying To Find The Best Time To Trade This Pair. I Located In The Est Of Usa. Thanks For All The Trading Tips Thus Far.....fxkings
  • #43,462
  • Oct 23, 2007 8:38pm Oct 23, 2007 8:38pm
Quoting auslanco
. Entry was made from the 8hrTF momentum on the last 8hr bar.
Hey Aus,
What about the current 8hr. bar? It is pointing up I believe. How do you see this affecting things?
Thanks!
  • #43,463
  • Oct 23, 2007 8:39pm Oct 23, 2007 8:39pm
Quoting Fxkings
Im Trying To Find The Best Time To Trade This Pair. I Located In The Est Of Usa. Thanks For All The Trading Tips Thus Far.....fxkings
I also live in EST in the US. I've found the best times to trade are as Aus has listed them from 4:00 gmt (12:00am EST) to 15:00 gmt (11:00am EST)

I've found most of the movement so far to happen around the London open trading time of 7:00 gmt (3:00am EST) through to 13:00 gmt (9:00am EST).
** The above ideal time frame also depends on what times the news falls as well.

Hope this helps.
  • #43,464
  • Oct 23, 2007 8:39pm Oct 23, 2007 8:39pm
Quoting birdt
Aus, may I ask is this how you calculate all your stop loss levels, ie. consider how much you are prepared to lose and your position size then calculate it accordingly?
On my Momentum trades I calculate 2% of my account balance and that will be my stop loss level. position size is .. I go up to 1:3 leverage per trade(1:1 per positionx3 positions at different levels). However maximum collective loss is 2% on all trades no matter how many open positions . TP target 2-4% of the account balance .


Now when you take a typical $5000 account the maximum lots you can open is 3 mini lots at different levels. Maximum SL per trade (collective of all three positions)= $100. Therfor if you have 1mini lot open you can stretch you SL up to 110 pips on this pair. For two mini lots 55pips. But If you got 3 mini lots open you can stretch your SL only upto 35pips.
  • #43,465
  • Oct 23, 2007 8:45pm Oct 23, 2007 8:45pm
Quoting fer
Thank you for the explanation Auslanco. What is your entry if you dont mind me asking.

Fer
234.95
  • #43,466
  • Oct 23, 2007 8:50pm Oct 23, 2007 8:50pm
Quoting rodders
Hey Aus,
What about the current 8hr. bar? It is pointing up I believe. How do you see this affecting things?
Thanks!
Bullish until 8GMT.. very risky to open new short trades or larger positions
  • #43,467
  • Oct 23, 2007 8:52pm Oct 23, 2007 8:52pm
Quoting Fxkings
Im Trying To Find The Best Time To Trade This Pair. I Located In The Est Of Usa. Thanks For All The Trading Tips Thus Far.....fxkings

anytime other than 10.00EST to 17.00EST, IMO
  • #43,468
  • Oct 23, 2007 8:53pm Oct 23, 2007 8:53pm
Ok guys.. The Q & A session is over. I'll be back later on
  • #43,469
  • Oct 23, 2007 8:54pm Oct 23, 2007 8:54pm
Quoting auslanco
Bullish until 8GMT.. very risky to open new short trades or larger positions
Which indicator on TF do use? I am still learning from the best.

Thank you.
Do not follow my trades. Trade what you see on your own charts.
  • #43,470
  • Oct 23, 2007 8:55pm Oct 23, 2007 8:55pm
Quoting igmak
Which indicator on TF do use? I am still learning from the best.

Thank you.
8hr bar on GFT deal book
  • #43,471
  • Oct 23, 2007 8:58pm Oct 23, 2007 8:58pm
a good price to go short is 234.48. It's below the Tokyo pivot and 1hr 100sma
  • #43,472
  • Oct 23, 2007 8:58pm Oct 23, 2007 8:58pm
4hr 5sma touch and the 4hr bar touched the 2nd deviation line using regressoin analysis, looks like we go up from here for at least the 2 hours and looking for new highs after that 236+

Many pips to all
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  • #43,473
  • Oct 23, 2007 9:06pm Oct 23, 2007 9:06pm
Oh noes, I didn't see this move up was a 50% retrace from the big move down. I am going to have to amend my previous post and say I've lost a bit of confidence in a big move up, but lets see . This pair is king of 50% retraces.
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  • #43,474
  • Oct 23, 2007 9:07pm Oct 23, 2007 9:07pm
Quoting lepiricus
4hr 5sma touch and the 4hr bar touched the 2nd deviation line using regressoin analysis, looks like we go up from here for at least the 2 hours and looking for new highs after that 236+

Many pips to all
Yo, Lep, just out of curiosity, what happened to the last regression chart you posted? I think you said the regression was showing price going down to 232.50 or so before bouncing back up. I'm not being critical, I honestly want to know what happened to that chart.

M2B
  • #43,475
  • Oct 23, 2007 9:16pm Oct 23, 2007 9:16pm
divergence on 30min.. M2B, Please correct me if i'm wrong.
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  • #43,476
  • Oct 23, 2007 9:17pm Oct 23, 2007 9:17pm
Quoting auslanco
On my Momentum trades I calculate 2% of my account balance and that will be my stop loss level. position size is .. I go up to 1:3 leverage per trade(1:1 per positionx3 positions at different levels). However maximum collective loss is 2% on all trades no matter how many open positions . TP target 2-4% of the account balance .


Now when you take a typical $5000 account the maximum lots you can open is 3 mini lots at different levels. Maximum SL per trade (collective of all three positions)= $100. Therfor if you have 1mini lot open you can stretch you SL up to 110 pips on this pair. For two mini lots 55pips. But If you got 3 mini lots open you can stretch your SL only upto 35pips.
Thanks for the explanation mate! Sounds like a solid MM rule.
I must admit I could do with being a bit more disciplined in that area.
  • #43,477
  • Oct 23, 2007 9:29pm Oct 23, 2007 9:29pm
National City announced after market close that they are exiting the correspondent lending business, effective immediately. They are announcing earnings tomorrow, and they are rumored to be really bad.
  • #43,478
  • Oct 23, 2007 9:35pm Oct 23, 2007 9:35pm
Quoting markam
National City announced after market close that they are exiting the correspondent lending business, effective immediately. They are announcing earnings tomorrow, and they are rumored to be really bad.
Let the storm come soon!
  • #43,479
  • Oct 23, 2007 9:38pm Oct 23, 2007 9:38pm
Quoting lepiricus
Oh noes, I didn't see this move up was a 50% retrace from the big move down. I am going to have to amend my previous post and say I've lost a bit of confidence in a big move up, but lets see . This pair is king of 50% retraces.

hi,
Would you like to share this indicator with us please, it's a like gravity center used by a morrocan profetionnal trader whose name is bel khayate, it's a good analyst of gold espatially, if you don't minde to share that indicator with us, it's almost the same, thanks
  • #43,480
  • Oct 23, 2007 9:39pm Oct 23, 2007 9:39pm
Quoting auslanco
divergence on 30min.. M2B, Please correct me if i'm wrong.
You're correct. It's also showing on the 15M and, more importantly, the 1H. The 1H is inverted bearish divergence which is a sign of continuing bearishness as opposed to reversal. One other thing, we just completed a bullish divergence move on the 4H chart (second chart below). Price moved up 600 pips (from 230 to 236). 4H is now overbought and threatening to turn down on Stochastics. Though there is no bearish divergence showing on 4H presently, these other factors support a move down.

M2B
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