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

  • #53,341
  • Dec 5, 2007 4:47am Dec 5, 2007 4:47am
Quoting moneymagnet
wow just woke up to see the drop. something told me last night(Godly) to close my buy entry stops above 227 and i did. even closed my longs (although they would have made my target of 227) before i went to sleep. Thank God! anyway if we have seen the initial bottom we could get a retrace up tp the 225.90-226.10 area (50% fib of last swing high) before another leg down. but this is triple interest wednesday so the big boys could have just repositioned themselves to take it back up to 228-229 area. imo if we can get a hourly close above 226.65 area we could possibly reach back up to the 228 area if the mom's line up.
Hi moneymagnet,

Can I ask you a question?
when you say "big boys", who exactly do you mean, I don't understand what does it mean. Are they special financial community or group or something else?

Also please tell me what is "triple interest" and why Wednesday is it's day.

Thank you for help.
Discipline + Patience - Fear - Greed = Success
  • #53,342
  • Dec 5, 2007 4:51am Dec 5, 2007 4:51am
http://www.fxsurfer.com/forums/showt...=3377#post3377

post 295 and 298 before and after. Pity i didn't have as much faith in my first time point.
  • #53,343
  • Dec 5, 2007 4:51am Dec 5, 2007 4:51am
Quoting zenger
sorry bro my loss is bigger than yours
i wish it go up
guys i am telling you from experience, quit "hoping and wishing" trade your plan and be ready to re-evaluate. i have a friend who is an excellent trader and his best trait is that he doesn't fall in love with a trade. one time he lost 7k on a trade then re-evaluated the market and made 12k for a 5k profit. trust me i am still trying to get there, just be careful, they dont call this pair the BEAST for nothing
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #53,344
  • Dec 5, 2007 4:55am Dec 5, 2007 4:55am
Quoting moneymagnet
wow just woke up to see the drop. something told me last night(Godly) to close my buy entry stops above 227 and i did. even closed my longs (although they would have made my target of 227) before i went to sleep. Thank God! anyway if we have seen the initial bottom we could get a retrace up tp the 225.90-226.10 area (50% fib of last swing high) before another leg down. but this is triple interest wednesday so the big boys could have just repositioned themselves to take it back up to 228-229 area. imo if we can get a hourly close above 226.65 area we could possibly reach back up to the 228 area if the mom's line up.
can any one please explain why after the retrace we should another leg down..?
isn't it was a bullish direction before the news or the news had changed the trend?
  • #53,345
  • Dec 5, 2007 4:56am Dec 5, 2007 4:56am
Bounce off the supporting 4hr TL....still potential 2 touch 61.8 @ 224.34 & lower
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr.gif Size: 17 KB
  • #53,346
  • Dec 5, 2007 4:57am Dec 5, 2007 4:57am
Quoting zenger
sorry bro my loss is bigger than yours
i wish it go up
i was just kidding offcourse
but i dont know how
becoz we both on the opposite way of trading
Due to today is the triple interest day i think they will go up also so i prefer to admit it and open the long position and take the lose in my short trade cause just now im hanging in the middle hopefuly this is the wise decision.

i just need 100pips from now onb how bout u?
  • #53,347
  • Dec 5, 2007 5:00am Dec 5, 2007 5:00am
Someday I'll start a thread w/ GBP/CHF....it's very wild during London-NY sessions. (I need to post something so i can pm) :-D

Quoting moneymagnet
guys i am telling you from experience, quit "hoping and wishing" trade your plan and be ready to re-evaluate. i have a friend who is an excellent trader and his best trait is that he doesn't fall in love with a trade. one time he lost 7k on a trade then re-evaluated the market and made 12k for a 5k profit. trust me i am still trying to get there, just be careful, they dont call this pair the BEAST for nothing
  • #53,348
  • Dec 5, 2007 5:02am Dec 5, 2007 5:02am
Quoting arezab
Hi moneymagnet,

Can I ask you a question?
when you say "big boys", who exactly do you mean, I don't understand what does it mean. Are they special financial community or group or something else?

Also please tell me what is "triple interest" and why Wednesday is it's day.

Thank you for help.
when i say big boys i mean the real players who move the market. banks, countries, major hedge funds, etc. actually move the market we just ride their coat tails. they look at tl's, ma's, technicals, ew patterns, etc. just like we do (on the bigger time frames) and position themselves accordingly. Trillions are traded everyday and trust me our 1 or 10 lot trades wont put a dent agaimst a Billion dollar hedge or if a country decides to diversify funds like China.



Triple Interest Wed:
For positions that are held after 5pm on a Wednesday, the value delivery date is the following Monday, provided that there are no holidays in any of the participating markets before that Monday. This implies two extra days of rollover charges / credits when the delivery is rolled over the weekend when banks are closed and the actual delivery of currency cannot take place. Thus, positions that remain open on the DealStation™ at 5pm on Wednesday incur a triple amount of rollover charges / credits. Now you have different rates depending on the currency, check with your broker for correct times and rates

hope i explained it properly
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #53,349
  • Dec 5, 2007 5:04am Dec 5, 2007 5:04am
Quoting stan88
Due to today is the triple interest day i think they will go up also so i prefer to admit it and open the long position and take the lose in my short trade cause just now im hanging in the middle hopefuly this is the wise decision.

i just need 100pips from now onb how bout u?
100 -my (-230) = -130 pips
it yr turn now to lend me those
  • #53,350
  • Dec 5, 2007 5:05am Dec 5, 2007 5:05am
Quoting moneymagnet
guys i am telling you from experience, quit "hoping and wishing" trade your plan and be ready to re-evaluate. i have a friend who is an excellent trader and his best trait is that he doesn't fall in love with a trade. one time he lost 7k on a trade then re-evaluated the market and made 12k for a 5k profit. trust me i am still trying to get there, just be careful, they dont call this pair the BEAST for nothing
I know a girl who lost 100k in 4hrs, that is where who stop loss was set, the market reversed and she would have been 1million up the next day. She was trading what she could afford to risk. About 2 weeks later she was back in the market risked 100k again and turned it into 500k in 2days. Whacked that 500k in the next trade and was up about 5million by the end of the week. Haven't heard from her since which was about 2 months ago.
  • #53,351
  • Dec 5, 2007 5:07am Dec 5, 2007 5:07am
Quoting zenger
can any one please explain why after the retrace we should another leg down..?
isn't it was a bullish direction before the news or the news had changed the trend?
please read what i said. we "could" move down. i also gave an opinion about a "possible" move up. just an analysis, everyone is diff, trade YOUR plan
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #53,352
  • Dec 5, 2007 5:08am Dec 5, 2007 5:08am
Quoting zenger
100 -my (-230) = -130 pips
it yr turn now to lend me those
Hopefully will reach our target there.
Hows other opinion on gj mind to share?
  • #53,353
  • Dec 5, 2007 5:11am Dec 5, 2007 5:11am
Quoting forexnovice
Bounce off the supporting 4hr TL....still potential 2 touch 61.8 @ 224.34 & lower
yeah i like that chart fxnovice
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #53,354
  • Dec 5, 2007 5:17am Dec 5, 2007 5:17am
Quoting moneymagnet
when i say big boys i mean the real players who move the market. banks, countries, major hedge funds, etc. actually move the market we just ride their coat tails. they look at tl's, ma's, ...

hope i explained it properly
thank you moneymagnet, it was your favor to me to explain it so nicely , I appreciate.
Discipline + Patience - Fear - Greed = Success
  • #53,355
  • Dec 5, 2007 5:19am Dec 5, 2007 5:19am
Quoting arezab
thank you moneymagnet, it was your favor to me to explain it so nicely , I appreciate.
np bro
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #53,356
  • Dec 5, 2007 5:25am Dec 5, 2007 5:25am
Quoting arezab
thank you moneymagnet, it was your favor to me to explain it so nicely , I appreciate.
also

you will pay rollover charges if you sell the currency with the higher interest rate in the pair and. For example, if the British pound has a higher interest rate than the US dollar,you will be paying rollover charges on short GPB/USD positions and earning rollover credits on long GBP/USD positions. The amount of rollover charges/credits is determined by the difference between US interest rates and the interest rates in the corresponding country. The greater the interest rate differential between the two currencies, the higher the rollover charge/credit will be.
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #53,357
  • Dec 5, 2007 5:32am Dec 5, 2007 5:32am
Just longed from 224.70 for 225.80 which is the 50% retracement of the previous H4 candle.

Aus mention that today's daily candle is bullish. Not sure whether it still holds or not. If yes then we might see a huge retracement during US session.
  • #53,358
  • Dec 5, 2007 5:36am Dec 5, 2007 5:36am
I am thinking of the same thing too. Especially we have lots of news for USD later during the NY session. But im not trading GU or GJ though for today. trying some other currency - AUDUSD and USDCAD
  • #53,359
  • Dec 5, 2007 5:37am Dec 5, 2007 5:37am
Quoting uncleforex
Just longed from 224.70 for 225.80 which is the 50% retracement of the previous H4 candle.

Aus mention that today's daily candle is bullish. Not sure whether it still holds or not. If yes then we might see a huge retracement during US session.
lol. i opened a small long at 224.78
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #53,360
  • Dec 5, 2007 6:02am Dec 5, 2007 6:02am
Quoting uncleforex
Just longed from 224.70 for 225.80 which is the 50% retracement of the previous H4 candle.

Aus mention that today's daily candle is bullish. Not sure whether it still holds or not. If yes then we might see a huge retracement during US session.
do any one have any idea about the dow...what's is going to happen
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