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

  • #50,041
  • Nov 13, 2007 7:44pm Nov 13, 2007 7:44pm
Quoting 59fender
not liking this at all looks as if I will be stopped out may have to stop and reverse but not just yet see you all in London
Waiting for the journey down,get some Karmo pill,since the volume is quite low,it seems more like a daily 5sma retracement,I still hold shorts in red,but if it get above 234,I will take the loss.
  • #50,042
  • Nov 13, 2007 7:46pm Nov 13, 2007 7:46pm
1 hr 100 ema (111.16) seems to be holding on u/j and was the last area of resistance Does anyone think we will go beyond this point?


Picture 6.jpg
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  • #50,043
  • Nov 13, 2007 7:46pm Nov 13, 2007 7:46pm
closed long @ 230.99 from 226.50 for +449! Sunday gap will close @231.40, then up to 235 or downto 221? Aus's daily momentum was very bullish, but that was several hours ago and we have already had nearly 150 pip run up since then. I have said this before, but I will say it again...this thread and the professionals here are making a profound difference in my life and in the life of my family!! Many thanks and goodnight!
  • #50,044
  • Nov 13, 2007 7:51pm Nov 13, 2007 7:51pm
Quoting FX-Petra
closed long @ 230.99 from 226.50 for +449! Sunday gap will close @231.40, then up to 235 or downto 221? Aus's daily momentum was very bullish, but that was several hours ago and we have already had nearly 150 pip run up since then. I have said this before, but I will say it again...this thread and the professionals here are making a profound difference in my life and in the life of my family!! Many thanks and goodnight!
Right on! Great Run
  • #50,045
  • Nov 13, 2007 7:55pm Nov 13, 2007 7:55pm
Quoting FX-Petra
closed long @ 230.99 from 226.50 for +449!
Whew! Good job!

  • #50,046
  • Nov 13, 2007 7:58pm Nov 13, 2007 7:58pm
Quoting DaddyWarbuck
i normally try to trade like this but i find myself exiting out of trades too early (because i get scared) and then getting in at a worse price. i guess that has something to do with the fact that im a newb at this.

also, i always read conflicting views on this. some ppl advocate the use of stop losses while others dont.

wouldn't the concept of "building shorts" during retracements be a bad idea then?

Here's a cool little e-book that deals with the psychological aspect of trading. If you're getting freaked out by the prospect of losses and this is effecting how much you are winning/losing then you may want to reassess how much you are trading to a more comfortable level and push your stops out further. Build up your confidence (and your account) gradually.

You may also want to be a bit more scientific about where you place your SL's, whether it be fibs, trendlines, pivot points, ATR's etc.. I personally have been experimenting with a 15m 5sma channel with a 10-15 pip buffer to identify my SL levels (amongst other things) - it seems to be quite effective.
Attached File(s)
File Type: pdf mental_fitness_for_traders.pdf   757 KB | 552 downloads
  • #50,047
  • Nov 13, 2007 8:01pm Nov 13, 2007 8:01pm
Hmm.... so where to next....

I hear one end screaming 235-236 and the other 221-220

Where will G/J go next
  • #50,048
  • Nov 13, 2007 8:06pm Nov 13, 2007 8:06pm
Quoting birdt
Here's a cool little e-book that deals with the psychological aspect of trading. If you're getting freaked out by the prospect of losses and this is effecting how much you are winning/losing then you may want to reassess how much you are trading to a more comfortable level and push your stops out further. Build up your confidence (and your account) gradually.

You may also want to be a bit more scientific about where you place your SL's, whether it be fibs, trendlines, pivot points, ATR's etc.. I personally have been experimenting with a 15m 5sma channel with a 10-15 pip buffer to identify my SL levels (amongst other things) - it seems to be quite effective.

please attach the file again...
  • #50,049
  • Nov 13, 2007 8:14pm Nov 13, 2007 8:14pm
Quoting Srikanth
please attach the file again...
It is attached. If you can't see the file, go to the attachments cache at the top of the page (the paperclip) and download it from there.

It's called mental fitness for traders.pdf
Attached File(s)
File Type: pdf mental_fitness_for_traders.pdf   757 KB | 578 downloads
  • #50,050
  • Nov 13, 2007 8:16pm Nov 13, 2007 8:16pm
Quoting birdt
It is attached. If you can't see the file, go to the attachments cache at the top of the page (the paperclip) and download it from there.

It's called mental fitness for traders.pdf
It worked now.... Thank you
  • #50,051
  • Nov 13, 2007 8:20pm Nov 13, 2007 8:20pm
Quoting birdt
It is attached. If you can't see the file, go to the attachments cache at the top of the page (the paperclip) and download it from there.

It's called mental fitness for traders.pdf
If you right click on the file and save as to desktop that will work
  • #50,052
  • Edited 9:21pm Nov 13, 2007 9:07pm | Edited 9:21pm
[quote=DaddyWarbuck;1713536]i normally try to trade like this but i find myself exiting out of trades too early (because i get scared) and then getting in at a worse price. i guess that has something to do with the fact that im a newb at this.

G'Day DW,

I was having this trouble as well up until last week, then I was given this indicator. You install it twice

1st : Colour = Blue, Input : Gamma = .55 and countbars = 950
2nd : Colour = Red, Input : Gamma = .85 and countbar = 950

It is a bit like momentum, when both are at the top at 1.0000 then ur longs are mostly safe, when both are at the bottom then your shorts are mostly safe, in between then your on your own.

If you get a QQE crossover and the indics move in the direction of the crossover then this is good sign of entry point soon to come. The shorter the TF the better it is.

Best to install and back test. I hope this helps, it has helped me stay in trades longer than my nerves normally would have.

Paddy

(attachments to come, i am having problems with uploading - I cant add the files so if anyone has the Laguerre files and can help that would be great)
Live Long and Prosper How GOOD are the NE Patriots ??
  • #50,053
  • Nov 13, 2007 9:13pm Nov 13, 2007 9:13pm
hi seniors
karmo,m2b and zoran
can you help me???
does the pic below show H/S pattern???
tks
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  • #50,054
  • Nov 13, 2007 9:41pm Nov 13, 2007 9:41pm
Quoting shahroodi
hi seniors
karmo,m2b and zoran
can you help me???
does the pic below show H/S pattern???
tks
I don't think so shahroodi. A head a shoulders pattern occurs where the price rise to a peak and subsequently declines; Then, the price rises above the former peak and again declines and finally, rises again, but not to the second peak, and declines once more. I don't see a clear head in your chart.
Attached Image
  • #50,055
  • Nov 13, 2007 9:47pm Nov 13, 2007 9:47pm
Where is Karmo, my2buoys, Zoran, Aus, Hakuna, Breeze, and the rest of mentors? Are they on strike?
  • #50,056
  • Nov 13, 2007 10:16pm Nov 13, 2007 10:16pm
Quoting pipdiddy
Where is Karmo, my2buoys, Zoran, Aus, Hakuna, Breeze, and the rest of mentors? Are they on strike?

I guess they made tonnes of pips and taking the week off
  • #50,057
  • Nov 13, 2007 10:21pm Nov 13, 2007 10:21pm
Quoting pipdiddy
Where is Karmo, my2buoys, Zoran, Aus, Hakuna, Breeze, and the rest of mentors? Are they on strike?
Aus is gone. He is no longer the moderator of this thread. Breeze has started his own thread. Zoran posts on the Daily GBP/JPY thread. This thread got out of hand so they all went elsewhere.....
  • #50,058
  • Nov 13, 2007 10:27pm Nov 13, 2007 10:27pm
I dont know if that is 100% accurate. I just think the guys are pulling back on the whole posting their entries non stop. This became a "what's your S/L thread rather than an analysis thread. I believe many of them have just taken a step away from that side of it so some of the newbs dont blow up acct after acct trying to follow them.

As Aus and Karmo have always told me, learn the system and trade what you see. Dont worry about what everyone else is saying, just trade what you see.
  • #50,059
  • Nov 13, 2007 10:28pm Nov 13, 2007 10:28pm
A close above 231.34 will close the weekend gap on Alpari.
  • #50,060
  • Nov 13, 2007 10:44pm Nov 13, 2007 10:44pm
why is everyone already jumping in shorts? lol

price needs to touch weekly 5sma, then it will reverse.
Trade what you see, not what you think.
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