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

  • #66,141
  • Mar 6, 2008 9:48am Mar 6, 2008 9:48am
dear lyy.sq , candles say to me
  • #66,142
  • Mar 6, 2008 9:49am Mar 6, 2008 9:49am
bye guys..its been a nice trading day with you alll...great questios from the newbies and wonderfull answer from the advanced,and lovely contribution from the inter-mediate more elbows to you all and best of luck in your tradings...TRADE WELL
Imanuel Parsifal
  • #66,143
  • Mar 6, 2008 9:50am Mar 6, 2008 9:50am
dear sycho , where is shahroodi ? for count chickens
  • #66,144
  • Mar 6, 2008 9:50am Mar 6, 2008 9:50am
Quoting Togy
Hi Mike,

I'm a noobie from Toronto, studying and paper trading the GBP/JPY pair. According to your experience, do you have a set schedule as to when you trade ... when you sleep or it's all over the place and depends on what the charts tell you as when the next trade should happen. Your advice is greatly appreciated ?

Thanks to all who post on this thread ... learning a lot !!!!

regards
Hi Togy. For me, I don't have a set schedule, no. I trade the dailies and weeklies for the most part and then any movement on 4 hour charts and sometimes scalp when I'm bored. Forex doesn't have to involve an insane sleeping schedule, unless you make it that way. YOUR NEW, Trade the HIGHER timeframes FIRST. I wish I would have listened to that advice when I started. Only trade dailies and weeklies for now until you are able to understand the market better in order to trade lower timeframes efficiently. I'll keep in touch with you. PM me if you ever have any questions that I could help with too. Best of luck in your career ahead!
I dream, therefore I become.
  • #66,145
  • Mar 6, 2008 9:51am Mar 6, 2008 9:51am
Quoting sycho
bye guys..its been a nice trading day with you alll...great questios from the newbies and wonderfull answer from the advanced,and lovely contribution from the inter-mediate more elbows to you all and best of luck in your tradings...TRADE WELL
Take it easy Sycho! Good talking with you as always, have a great day man!
I dream, therefore I become.
  • #66,146
  • Mar 6, 2008 9:52am Mar 6, 2008 9:52am
Quoting hussin naiji
dear sycho , where is shahroodi ? for count chickens
don't party until we reach 101.7 as you mentioned
Trade what you see, not what you think.
  • #66,147
  • Mar 6, 2008 9:52am Mar 6, 2008 9:52am
Quoting moneymagnet
mike is taking profits again. stop it mike!!
haha you kill me man! No profit taking just yet lol. I think this will be just about the low and then we should get that run up.

What are your thoughts on it MM?
I dream, therefore I become.
  • #66,148
  • Mar 6, 2008 9:57am Mar 6, 2008 9:57am
Quoting SimonJ
Lol same here man.
Next time think about taking partial profit.
"Timing Is Everything. Really I Swear It Is"
  • #66,149
  • Mar 6, 2008 9:58am Mar 6, 2008 9:58am
Didn't get a close above 207.30/40 - check
Price has failed at the 55 day EMA 3 times - check
UJ breaking down and GU trading at the top of the range - check

Anybody still think this pair going to 208.50?????

As stated yesterday, best to see the glass half empy and half full!

Short from 207.52 waiting for it to break down to 202 area. . .

Cheers!
  • #66,150
  • Mar 6, 2008 10:01am Mar 6, 2008 10:01am
Quoting TexasforEX
Next time think about taking partial profit.
If I could take a partial profit on a 0.01 lot I would do that
Maybe I shall try out oanda which allows any amount of units.
  • #66,151
  • Mar 6, 2008 10:04am Mar 6, 2008 10:04am
dear karmo this was my candlestick analysis yesterday and after that mr yen have test 104.19 then start fall but now we must see a retest to 101.70 for sushi karmo remmber we are seeing a bearish engulfing pattern that is a major signal
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  • #66,152
  • Mar 6, 2008 10:05am Mar 6, 2008 10:05am
Quoting hussin naiji
dear karmo this was my candlestick analysis yesterday and after that mr yen have test 104.19 then start fall but now we must see a retest to 101.70 for sushi karmo remmber we are seeing a bearish engulfing pattern that is a major signal
Good stuff, we have to wait for the daily candle to close first
Trade what you see, not what you think.
  • #66,153
  • Mar 6, 2008 10:08am Mar 6, 2008 10:08am
Quoting quecee5
Didn't get a close above 207.30/40 - check
Price has failed at the 55 day EMA 3 times - check
UJ breaking down and GU trading at the top of the range - check
Anybody still think this pair going to 208.50?????

As stated yesterday, best to see the glass half empy and half full!

Short from 207.52 waiting for it to break down to 202 area. . .

Cheers!
yes
Trade what you see, not what you think.
  • #66,154
  • Mar 6, 2008 10:08am Mar 6, 2008 10:08am
dear karmo agree with u but mr YEN will close 102.70 -103.15 for today
  • #66,155
  • Mar 6, 2008 10:09am Mar 6, 2008 10:09am
Quoting mike w
Calm down and you'll be fine. If your patient, it'll come to you. Trust me on that man. I think we'll see her bouncing back up now for the close

what next miky lol am on 2 pips gain lol so better to save them but nothing no?
  • #66,156
  • Mar 6, 2008 10:11am Mar 6, 2008 10:11am
hi quecee5 , my good friend .what is your point of view ?
  • #66,157
  • Mar 6, 2008 10:11am Mar 6, 2008 10:11am
Quoting mike w
Hi Togy. For me, I don't have a set schedule, no. I trade the dailies and weeklies for the most part and then any movement on 4 hour charts and sometimes scalp when I'm bored. Forex doesn't have to involve an insane sleeping schedule, unless you make it that way. YOUR NEW, Trade the HIGHER timeframes FIRST. I wish I would have listened to that advice when I started. Only trade dailies and weeklies for now until you are able to understand the market better in order to trade lower timeframes efficiently. I'll keep in touch with you. PM me if you ever have any questions that I could help with too. Best of luck in your career ahead!
Thank you very much Mike ... I noticed your from Philly ... I hear you guys have the best Philly steak sandwiches ... Gonna be down there one day and try it out.

Truly appreciate the advice and support. Will keep in touch.
  • #66,158
  • Mar 6, 2008 10:17am Mar 6, 2008 10:17am
Quoting quecee5
I would be quite careful UP HERE IMO!

IMO, PRICE needs to close above 207.30/40 area today before one could make the assumption that it's going further.

Price has just retraced 38% from the swing high and swing low (213.47 - 203.42) which could mean a few things. . .

1) The correction from the fall from 213.47 to 203.47 has completed and the down move will continue. . .

or - a close above this area would suggest that price may head toward the weekly/monthly pivot @ 208.60'ish area. . . A break up there would speak volumes!

Just my humble opinion. . .
Here is my point-a-view given yesterday!
  • #66,159
  • Mar 6, 2008 10:23am Mar 6, 2008 10:23am
Quoting quecee5
Here is my point-a-view given yesterday!

no one around guys?
  • #66,160
  • Mar 6, 2008 10:27am Mar 6, 2008 10:27am
Quoting SimonJ
If I could take a partial profit on a 0.01 lot I would do that
Maybe I shall try out oanda which allows any amount of units.
Yeah, it's an overlooked strategy that you can trade 30 mini lots instead of 3 full size and have more flexibility in taking partial profits..
"Timing Is Everything. Really I Swear It Is"
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