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

  • #57,901
  • Jan 8, 2008 9:11pm Jan 8, 2008 9:11pm
Quoting ovaforty
LOL. That's a good one. If I think it will improve my system, then I will give it a try. I recently added the Zigzag indicator (default) from the custom indicator list at mt4. I like it a lot for determining trend.
how about slappin the zup 71 on there too?
  • #57,902
  • Jan 8, 2008 9:12pm Jan 8, 2008 9:12pm
Quoting turn1to100
Basically your sayin that you think it will head to 210-200 then wave 5 up to 251.00?
What i am saying is we had 5 waves up to 251 on the monthly chart. We are in the corrective wave down now which might turn out to be 3 waves.
  • #57,903
  • Jan 8, 2008 9:12pm Jan 8, 2008 9:12pm
Quoting turn1to100
Basically your sayin that you think it will head to 210-200 then wave 5 up to 251.00?

um i thought he meant that 251 was the top and start of wave 1 down?
  • #57,904
  • Jan 8, 2008 9:15pm Jan 8, 2008 9:15pm
ok
  • #57,905
  • Jan 8, 2008 9:15pm Jan 8, 2008 9:15pm
Quoting dagoods
um i thought he meant that 251 was the top and start of wave 1 down?
That is what I meant.
  • #57,906
  • Jan 8, 2008 9:16pm Jan 8, 2008 9:16pm
Quoting fxstman
how about slappin the zup 71 on there too?
What is the zup 71? and what does it do?
  • #57,907
  • Jan 8, 2008 9:20pm Jan 8, 2008 9:20pm
4 hour geppy Zigzag shows retrace to 217.30 area, which is also the 300 sma on the monthly chart(pink).
Attached Image (click to enlarge)
Click to Enlarge Name: 4hourgeppy.gif Size: 21 KB
  • #57,908
  • Jan 8, 2008 9:23pm Jan 8, 2008 9:23pm
Quoting ovaforty
What is the zup 71? and what does it do?
It shows when harmonic patterns show on a chart. Here's one not to long ago. and the indicator.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 39 KB
Attached File(s)
File Type: mq4 ZUP_v71.mq4   285 KB | 353 downloads
  • #57,909
  • Jan 8, 2008 9:25pm Jan 8, 2008 9:25pm
Quoting ovaforty
LOL. That's a good one. If I think it will improve my system, then I will give it a try. I recently added the Zigzag indicator (default) from the custom indicator list at mt4. I like it a lot for determining trend.

It's certainly not for me to criticise your style but can you see the wood for the trees? I've collected many indicators, some with no discernible use whatsover - they didn't improve my profitability that's for sure. The Skunny thread (and the fact that I had to delete and reinstall MT4 again) has inspired me to rely on my own eyes/brain/knowledge/analysis to make the pips. Different strokes for different folks though and I wish you all the best in your endeavours.

PS. There's no way I'm getting rid of Zup though.
  • #57,910
  • Jan 8, 2008 9:30pm Jan 8, 2008 9:30pm
Quoting birdt
It's certainly not for me to criticise your style but can you see the wood for the trees? I've collected many indicators, some with no discernible use whatsover - they didn't improve my profitability that's for sure. The Skunny thread (and the fact that I had to delete and reinstall MT4 again) has inspired me to rely on my own eyes/brain/knowledge/analysis to make the pips. Different strokes for different folks though and I wish you all the best in your endeavours.
I can zoom in or out to see anything I need to see. We each need to create our own system and tweak it until we find that Holy Grail. hehehehehe
  • #57,911
  • Jan 8, 2008 9:33pm Jan 8, 2008 9:33pm
This thread is a great one to see different methods and systems with everyone's input. We all have one goal, and that is to try and tame this beast we call geppy.
  • #57,912
  • Jan 8, 2008 9:35pm Jan 8, 2008 9:35pm
Quoting ovaforty
I can zoom in or out to see anything I need to see. We each need to create our own system and tweak it until we find that Holy Grail. hehehehehe

moley quail!!! ooohhhh you might get spanked for that one!

kudos to you... I say always trade your own plan and your own system! there are certain tools and "indicators" that are good for confirming what you see on your naked charts or to get you to see possibilites of what MAY happen....IMO... but most indicators are nothing more than pretty colors....IMO...

if you have something that works after 4 years of development than I think thats great!

but Skunny would definitely spank you!
  • #57,913
  • Jan 8, 2008 9:36pm Jan 8, 2008 9:36pm
Hi.
I know getting out of a trade is a individuals decision with many possibilities to do so...but here is a template I have been playing with to exit a trade.
I personally use the Laguerre to ultimately end a trade.

I would appreciate any constructive comments from experience, as per the scaling out approach and also in respect to 1/2's 1/3'rds 1/4'rs ect.

1. Determine amount of lots/mini lots to trade within acceptable risk.

2. Place entry trade.

3. Immediately set stop 30 pips. (a personal decision)

4. Immediately place limit close order for 1/3 of total lots opened at next '00 or '50. (my preferable method).

5. If limit order is executed :

  1. Place new limit close on second 1/3.
  2. Amend stop 2/3 to B.E.

6. If next '00 or '50 limit order is executed,

  1. Run with remaining 1/3 till Red Lag turns.
  2. Amend stop 1/3 to 50 pip before last limit close.
  3. Continue adjusting stop each '00 or '50 till Red Lag turns.

regards and thanks, D

where thought goes energy flows
  • #57,914
  • Jan 8, 2008 9:36pm Jan 8, 2008 9:36pm
Quoting fxstman
It shows when harmonic patterns show on a chart. Here's one not to long ago. and the indicator.
Nice!
Keep us posted with updates on what that zup 71 is showing.
  • #57,915
  • Jan 8, 2008 9:45pm Jan 8, 2008 9:45pm
Bingo..... now we can go down.
Attached Image (click to enlarge)
Click to Enlarge Name: gj 4 quad filled.gif Size: 33 KB
  • #57,916
  • Jan 8, 2008 9:50pm Jan 8, 2008 9:50pm
Quoting fourxtrader
Bingo..... now we can go down.
I Dont think its ready to drop just yet - i saw that as an opportunity to add to my long...

I am only looking for smaller moves (50 - 100 points). Tight stops as theres a pretty good chance im dead wrong!!
"If it bleeds ... we can kill it"
  • #57,917
  • Jan 8, 2008 9:54pm Jan 8, 2008 9:54pm
Geppy is due for a retrace up at some point. My weekly shows 3 waves down from 251 area and my daily shows 3 waves from 241 area. Weekly 200 sma combined with 38% fib is providing support for now at the 213 area. Last night we saw a retrace to 217.30 area, which got sold hard. The calendar shows a lot of news releases for Frankfurt/London session. It should provide some volatility to trade, other than panic selling that we see on the u.s. session.
  • #57,918
  • Jan 8, 2008 9:59pm Jan 8, 2008 9:59pm
I had to back off trading this choppiness. I dropped from +16.4% profit to +11.4% for january in the last 2 days.
  • #57,919
  • Jan 8, 2008 10:27pm Jan 8, 2008 10:27pm
Quoting MMDealer
I Dont think its ready to drop just yet - i saw that as an opportunity to add to my long...

I am only looking for smaller moves (50 - 100 points). Tight stops as theres a pretty good chance im dead wrong!!
Or perhaps it will range in an obedient divergent wedge until
significant data releases on Thurs. / Fri. between these TLs.
Attached Image (click to enlarge)
Click to Enlarge Name: gj divergent wedge.gif Size: 33 KB
  • #57,920
  • Jan 9, 2008 12:01am Jan 9, 2008 12:01am
Good Morning All.


Once the 4hr Gann @ 216 is cleared, longs will be in play again to 218 & higher.
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