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

  • #56,941
  • Jan 2, 2008 3:20pm Jan 2, 2008 3:20pm
Quoting vinesh2
Tell me about it. I am learning a lot here. first off NEVER GO AGAINST THE TREND! I am hurting and considering cutting the bleeding but I am going to hang on till end of this week which is only 2 days away and if this thing does not retrace to that level which is around 5SMA Daily level I am going to cut and run and not trade for a while

its gonna take a boatload of karmo pills... i'll root for ya!
  • #56,942
  • Jan 2, 2008 3:21pm Jan 2, 2008 3:21pm
Quoting vinesh2
Tell me about it. I am learning a lot here. first off NEVER GO AGAINST THE TREND! I am hurting and considering cutting the bleeding but I am going to hang on till end of this week which is only 2 days away and if this thing does not retrace to that level which is around 5SMA Daily level I am going to cut and run and not trade for a while
What price are you in at Vinesh?
  • #56,943
  • Jan 2, 2008 3:24pm Jan 2, 2008 3:24pm
Quoting quecee5
LOL!

pmed u
  • #56,944
  • Jan 2, 2008 3:30pm Jan 2, 2008 3:30pm
Quoting dagoods
pmed u
Yep, got it. . .
  • #56,945
  • Jan 2, 2008 3:34pm Jan 2, 2008 3:34pm
Quoting PipChick
What price are you in at Vinesh?
Happy New Year - PipChick!What's your take on the state of the geppy right now? Do you see a retrace back up to support turned resistance (119.50 area) or more down before back up?
  • #56,946
  • Jan 2, 2008 3:38pm Jan 2, 2008 3:38pm
Quoting quecee5
Happy New Year - PipChick!What's your take on the state of the geppy right now? Do you see a retrace back up to support turned resistance (119.50 area) or more down before back up?
Seems to be risk aversion. We may not get a retrace.
  • #56,947
  • Jan 2, 2008 3:43pm Jan 2, 2008 3:43pm
223.50, 225.60, 224.50, 224.00, 222.50. This was all before the Pakistani turmoil. All this downfall began after the killing of the ex PM. I am on a mini account but dont like seeing the margin level going down. Started with 22500 its now at 17862. I started trading in Sept and made $3400 in profit. Contemplating whether to cut the bleeding and start over or just wait on the side lines for the first quater and then see what happes. Oh by the way I have a couple lots of AJ in there too all Longs 98.50 and 99.50. NZD/USD and EUR/USD seem to be doing ok for now. GJ is whats driving my account down. Another thing to learn is to try not to trade all the pairs. Focus on one and then move on to other's once I am comfertable with it. Senior memeber can definitly guide me through this. I sure have a lot to learn here.
  • #56,948
  • Jan 2, 2008 3:44pm Jan 2, 2008 3:44pm
223.50, 225.60, 224.50, 224.00, 222.50. This was all before the Pakistani turmoil. All this downfall began after the killing of the ex PM. I am on a mini account but dont like seeing the margin level going down. Started with 22500 its now at 17862. I started trading in Sept and made $3400 in profit. Contemplating whether to cut the bleeding and start over or just wait on the side lines for the first quater and then see what happes. Oh by the way I have a couple lots of AJ in there too all Longs 98.50 and 99.50. NZD/USD and EUR/USD seem to be doing ok for now. GJ is whats driving my account down. Another thing to learn is to try not to trade all the pairs. Focus on one and then move on to other's once I am comfertable with it. Senior memeber can definitly guide me through this. I sure have a lot to learn here. Thanks guys for all your guidence
  • #56,949
  • Jan 2, 2008 3:48pm Jan 2, 2008 3:48pm
Quoting quecee5
Happy New Year - PipChick!What's your take on the state of the geppy right now? Do you see a retrace back up to support turned resistance (119.50 area) or more down before back up?
Didnt mean to be rude Que....Happy New year to you too!! Was in deep thought..lol I dont think I will buy a retrace. I will wait for the retrace then sell again.
  • #56,950
  • Jan 2, 2008 3:50pm Jan 2, 2008 3:50pm
Quoting vinesh2
223.50, 225.60, 224.50, 224.00, 222.50. This was all before the Pakistani turmoil. All this downfall began after the killing of the ex PM. I am on a mini account but dont like seeing the margin level going down. Started with 22500 its now at 17862. I started trading in Sept and made $3400 in profit. Contemplating whether to cut the bleeding and start over or just wait on the side lines for the first quater and then see what happes. Oh by the way I have a couple lots of AJ in there too all Longs 98.50 and 99.50. NZD/USD and EUR/USD seem to be doing ok for now. GJ is whats driving my account down. Another thing to learn is to try not to trade all the pairs. Focus on one and then move on to other's once I am comfertable with it. Senior memeber can definitly guide me through this. I sure have a lot to learn here. Thanks guys for all your guidence
hmmmmmmmmmmm thats a lot to manage.
  • #56,951
  • Jan 2, 2008 3:54pm Jan 2, 2008 3:54pm
Quoting PipChick
Didnt mean to be rude Que....Happy New year to you too!! Was in deep thought..lol I dont think I will buy a retrace. I will wait for the retrace then sell again.
Didn't take it that way Anyway, I sold my short already @ 216.40 and bought the bounce @ 216.50 with tight stops so I'm in it for a profit and look to sell on a retrace back up as well.
  • #56,952
  • Jan 2, 2008 4:00pm Jan 2, 2008 4:00pm
Quoting quecee5
Didn't take it that way Anyway, I sold my short already @ 216.40 and bought the bounce @ 216.50 with tight stops so I'm in it for a profit and look to sell on a retrace back up as well.
That may end up being a nice trade if it can open above the 5 ema on the 1 hr.
  • #56,953
  • Jan 2, 2008 4:01pm Jan 2, 2008 4:01pm
Quoting PipChick
That may end up being a nice trade if it can open above the 5 ema on the 1 hr.
Hey..my charts are froze. Did it open above the 5 ema?
  • #56,954
  • Jan 2, 2008 4:05pm Jan 2, 2008 4:05pm
Hi everyone. I am new to this thread but have been reading on it for a month or so. Have picked up some valuable pointers from you guys and look forward to learning alot more. Keep up the good work.
  • #56,955
  • Jan 2, 2008 4:05pm Jan 2, 2008 4:05pm
Quoting PipChick
That may end up being a nice trade if it can open above the 5 ema on the 1 hr.
Yes!
  • #56,956
  • Jan 2, 2008 4:06pm Jan 2, 2008 4:06pm
Quoting TarMac
Hi everyone. I am new to this thread but have been reading on it for a month or so. Have picked up some valuable pointers from you guys and look forward to learning alot more. Keep up the good work.
Welcome to the thread TarMac
  • #56,957
  • Jan 2, 2008 4:08pm Jan 2, 2008 4:08pm
I feel sorry for ur loss,Vinesh.

The GJ will retrace back up now thro the night in asian session.

I look to see at least 219.15 which is the 23.6 fib retracement of this move down. Since the factors are very bearish ,i am a bit skeptical of 50 percent retracement.

Not trying to pick a bottom but see that it bounced off twice at 216.50.
So likely that gonna be the bottom for the day and downward move will likely start at Frankfurt /London open.

I am not sure to what it will retrace to but retarce for sure to, at least, 100-150 pips. The logic defines that it should retrace by that amount ,at the very least.

Went long @ 216.59 with tight stop and proper MM. I see little risk @ this point.

Sri
  • #56,958
  • Jan 2, 2008 4:17pm Jan 2, 2008 4:17pm
Quoting sri
I feel sorry for ur loss,Vinesh.

The GJ will retrace back up now thro the night in asian session.

I look to see at least 219.15 which is the 23.6 fib retracement of this move down. Since the factors are very bearish ,i am a bit skeptical of 50 percent retracement.

Not trying to pick a bottom but see that it bounced off twice at 216.50.
So likely that gonna be the bottom for the day and downward move will likely start at Frankfurt /London open.

I am not sure to what it will retrace to but retarce for sure to, at least, 100-150 pips. The logic defines that it should retrace by that amount ,at the very least.

Went long @ 216.59 with tight stop and proper MM. I see little risk @ this point.

Sri
Was thinking the same thing. Thinking GJ should at the very least retest daily pivot which should act as resistance. Asian daily pivot comes in at 218.64.
  • #56,959
  • Jan 2, 2008 4:18pm Jan 2, 2008 4:18pm
Quoting quecee5
Welcome to the thread TarMac
Thanks quecee
  • #56,960
  • Jan 2, 2008 4:23pm Jan 2, 2008 4:23pm
Quoting dagoods
pmed u
chk yur pm!
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