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

  • #47,201
  • Nov 2, 2007 11:26am Nov 2, 2007 11:26am
I learn alot from a bunch of people on this thread, but I learned a very important lesson from Karmo. The lesson of patience.
I have been following this thread since its beginning in late July, and little by little, Karmo's voice has been getting thru to me . . . PATIENCE!
Several months ago, I was a 10 and 20 pip scalper. If I left my screen for a moment, and came back to find a trade up 30 pips, I would almost pee myself with delight! I would jump on the mouse and close the trade at once.
It has been very hard for me to watch a trade go 50, 60, 100 pips into green,
and restrain myself from closing it. Don't get me wrong, I still enjoy scalping,
just today I had 14 trades (all winners of course, or I wouldn't be bringing them up). But just this week, I closed 4 trades with 300+ pips each.
I have 2 nice shorts open (already green), that I am going to ride down into hell. I have a separate acct I use for G/J, a mini that was just into 5 digits.
In the past 2 weeks I doubled it.
Now, I know undocumented bragging is frowned upon here, But I hope you folks will bear with me this once. When I try to talk to an Earthling about trading, they look at me like I have 2 heads.
Trading is a lonely business, and you folks are the only trading friends I have.

So without further ado, I got a present for Karmo. A Lamborghini Diablo!

Only problem is, I don't have an exporting license. So I will have to keep it here in safe keeping for Karmo.
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  • #47,202
  • Nov 2, 2007 11:29am Nov 2, 2007 11:29am
Market Minute: Something's Fishy


"The degree of ebullience in so many markets is stretched to an extreme:

  1. The last three days of gold bulls (Daily Sentiment Index) is 93% (Oct. 26), 94% (Oct. 29) and 90% (Oct. 30). In silver it’s four straight days of significant extremes; 90% (Oct. 25), 95% (Oct. 26), 97% (Oct. 29) and 93% (Oct. 30). Platinum has bulls of 90% (Oct. 25), 93% (Oct. 26), 90% (Oct. 29) and 83% (Oct. 30).
  2. Crude oil shows bulls of 91% (Oct. 24), 95% (Oct. 25), 96% (Oct. 26), 97% (Oct. 29) and 91% (Oct. 30). Commodity bulls hit 91% two days ago but were “just” 86% yesterday.
  3. FOREX is in the mix too. The Canadian Dollar shows an extreme of 92% (Oct. 25), 93% (Oct. 26), 93% (Oct. 29) and 94% (Oct. 30). The Swiss Franc is at 90% (Oct. 25), 91% (Oct. 26), 89% (Oct. 29) and 90% (Oct. 30). The U.S. Dollar shows equal extremes, but in pessimism instead of optimism. Dollar bears were 91% and 92% the past two days.

I cannot remember the last time a simultaneous extreme was reached in so many markets." – Steve Hochberg, Oct. 31 Short Term Update.

  • #47,203
  • Nov 2, 2007 11:32am Nov 2, 2007 11:32am
Quoting gene22
El Grande, I think I was nice when I asked for a chart showing a count from 251, I don't get something here, are you deff, or just plain ignorant, show me your count from 251, I would really love to see the evidence of me being wrong, for once it'll save me a whole bunc of money, as I"M short, for many, many reasons. If you show me a chart with a count from 251 and it makes sense with the current situation, I'll have to reconsider my positions. If I do close them, they are in profit anyhow, I'll give you 1% from the profit, trust me it'll pay for a nice vacation. Show me a chart with a count from 251, I want to feel like an idiot for being wrong and say thank you, please do I need to beg?!

gene22, I am not a Guru like Auslanco, Karmo, Hakuna, Zoran, Markam and M2B. It is best that you follow their call.

I would love to get that 1% you offered as I need need that money. Although ffor a professional advise, that is too little. As they say, you be your own trader. Trade based on what you see on your charts and not from somebody elses chart.

If you took time to go thru my thread, you will find out how difficult or challenging EW is. Maybe you will have a better appreciatiopn of what it is.

I will draft that count you wabnt to see a little later and it will not be just from 251. But it will be from my monthly chart down to the 15min or maybe to the 1 min chart too.

Then I should deserve more if I am right. But instead of giving that to me, donate that to the Sister's of Charity if you are serious about it.

EG
  • #47,204
  • Nov 2, 2007 11:39am Nov 2, 2007 11:39am
Quoting Zoran
OK, here is my EW count from 251. I accept cheques although you can pay for my vacation to Russia if you please.
Zoran, after2 weeks, you'll be able to come here first class on your own. Thanks for the analyses, mine are a touch diffferent though I'm looking on the monthly and 251 is a very interesting number INMO, also note monthly divergence, target, and if you counted correctly you'll see that it all lines up perfectly. But where is the danm profet El Grande, Ok I'll leave in an hour or so, have a couple of shots of vodka, maybe more than a couple, and put that joker on the ignore list. That's it you ignorant "$%$%$" I tried to give you some advise but I guess it's not needed. Allright enjoy your ride, I only wish I could be a witness.
  • #47,205
  • Nov 2, 2007 11:44am Nov 2, 2007 11:44am
I guess not many ppl took my long g/j advice.

Too bad.
  • #47,206
  • Edited 12:26pm Nov 2, 2007 11:49am | Edited 12:26pm
JUST PERFECT AND WORTH THE WAIT.

I hope others got on that ride.

Now I am Off to bed. Goodnight everyone. Have a great weekend.

My SL is 600
TP @
238.61 FE 61.8
237.83 FE 100.0

Please disregard above: Preferred ones are below
FE 61.8 @ 237.93
FE 100.0 @ 236.50

EG

WARNING
I almost forgot, somebody might be trading my charts without understanding them. Please do not trade my charts. They are at most an exercise in applying what I know on EW and puffing it with Fibs on the sides plus other tools.

on my demo my SL is at 600
My Live account is at previous high of 241.35 + 1 = 241.36 although today I used 600 for each of the at least 10 LIVE Trades I made.
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  • #47,207
  • Nov 2, 2007 11:49am Nov 2, 2007 11:49am
Quoting el grande
gene22, I am not a Guru like Auslanco, Karmo, Hakuna, Zoran, Markam and M2B. It is best that you follow their call.

I would love to get that 1% you offered as I need need that money. Although ffor a professional advise, that is too little. As they say, you be your own trader. Trade based on what you see on your charts and not from somebody elses chart.

If you took time to go thru my thread, you will find out how difficult or challenging EW is. Maybe you will have a better appreciatiopn of what it is.

I will draft that count you wabnt to see a little later and it will not be just from 251. But it will be from my monthly chart down to the 15min or maybe to the 1 min chart too.

Then I should deserve more if I am right. But instead of giving that to me, donate that to the Sister's of Charity if you are serious about it.

EG
OK last post, I swear, it is difficult because you make it so. The beauty is in simplicity, just look at the monthly, stop analysing, counting, what, it doesn't jump out at you after you had put in so much effort in to it?!
Ok if you can't see it, bro, a word of advice, some people can trade and some can't. This inability doesn't diminish a person, it's just some are meant to fly and some to crawl.

I'll stop now, yes you are right. My 1% can't possibly satisfy you. That's it done, no more posts.
  • #47,208
  • Nov 2, 2007 11:56am Nov 2, 2007 11:56am
Quoting uncleforex
I guess not many ppl took my long g/j advice.

Too bad.

Didn't take your advice Uncleforex but I've been longing along with you all day, still am.

Just all looks long to me (sorry Zoran), great how we can all make money though if we make sensible trades long and short on the same day.
  • #47,209
  • Nov 2, 2007 11:57am Nov 2, 2007 11:57am
Quoting uncleforex
I guess not many ppl took my long g/j advice.

Too bad.
dont worry man we are with u loool

even i bought late i was eating i couldn't catch it from the buttom. but so far so good.

http://xs221.xs.to/xs221/07445/001uuk.png
  • #47,210
  • Nov 2, 2007 11:57am Nov 2, 2007 11:57am
karmo are you still adding to your short?
  • #47,211
  • Nov 2, 2007 12:00pm Nov 2, 2007 12:00pm
Quoting msniper
dont worry man we are with u loool

even i bought late i was eating i couldn't catch it from the buttom. but so far so good.

http://xs221.xs.to/xs221/07445/001uuk.png

Just make sure to close it above 240

I'm not carrying these trades over the weekend , hehe.
  • #47,212
  • Nov 2, 2007 12:10pm Nov 2, 2007 12:10pm
GU heading 2.1050
GJ heading 241.40 which is a very strong resistance from monthly chart.

We could see a big fall from there, get ready!
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  • #47,213
  • Nov 2, 2007 12:15pm Nov 2, 2007 12:15pm
Quoting Wolf.
Didn't take your advice Uncleforex but I've been longing along with you all day, still am.

Just all looks long to me (sorry Zoran), great how we can all make money though if we make sensible trades long and short on the same day.
Of course. I have long plans also but not unless my brick wall breaks (241.06). 247 is the target but my current plan is to stay short until such time. This isn't based on intraday trading.
  • #47,214
  • Nov 2, 2007 12:18pm Nov 2, 2007 12:18pm
Quoting msniper
dont worry man we are with u loool

even i bought late i was eating i couldn't catch it from the buttom. but so far so good.

http://xs221.xs.to/xs221/07445/001uuk.png
it's dangrous in my eyes.
one bad trade could wipe off all your profit
the biggest profit is only 48, looks like scalping trade
  • #47,215
  • Nov 2, 2007 12:18pm Nov 2, 2007 12:18pm
Quoting Zoran
Of course. I have long plans also but not unless my brick wall breaks (241.06). 247 is the target but my current plan is to stay short until such time. This isn't based on intraday trading.
I love those seasoned traders
  • #47,216
  • Nov 2, 2007 12:21pm Nov 2, 2007 12:21pm
Quoting Zoran
OK, so I said that during DOW close and it seems to have gone 50 pips lower, but I still stand by what I said yesterday. This could be the last bounce for DOW before another largish fall. I suspect Guppy may follow this one.
Here is some intraday analysis.... I did mention a bounce on DOW and Guppy a few minutes before it occured.

http://www.forexfactory.com/showthre...86#post1695986
  • #47,217
  • Nov 2, 2007 12:25pm Nov 2, 2007 12:25pm
Quoting msniper
dont worry man we are with u loool

even i bought late i was eating i couldn't catch it from the buttom. but so far so good.

http://xs221.xs.to/xs221/07445/001uuk.png
trust me my friend it's not the least safe!
  • #47,218
  • Nov 2, 2007 12:30pm Nov 2, 2007 12:30pm
Quoting zoheir
trust me my friend it's not the least safe!
OOps I'm sorry, I just noticed that these are already closed trades
  • #47,219
  • Nov 2, 2007 12:31pm Nov 2, 2007 12:31pm
Quoting uncleforex
Very very ugly today g/j

I goin out for drinks. Cheers.

Hope to c at least +100pips for me later.

Enjoy ur weekend guys.
I do remember bib bruv asking you what you based your long view on and
above was your reply from 3 hours ago. So seen as youre still around would you like to answer his question.
Donagh
The more I wait the more I make
  • #47,220
  • Nov 2, 2007 12:40pm Nov 2, 2007 12:40pm
Quoting MoForce
wow that was quick! G/J just made a complete turnaround... man that 237.70 support is strong. I've got a fairly decent amount going long now expecting 240 w/ SL +1
I've locked in about 150 pips

1HR, 4HR momentum is up so I'm seeing G/J closing at 240 and next week reaching 241.50 by NY's open/close on Monday and a crash from there.
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