For me...GU,UJ, and GJ complete a double Top up....in momentum indi...So .... i prefer Gj continue.....Bearish Trend Now....maybe Try to break a Bottom 
:
: 
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #66,183
- Mar 6, 2008 11:10am Mar 6, 2008 11:10am
- Joined Feb 2008 | Status: Trader | 5,732 Posts
no i can't but aus or karmo(with oil money) can do it
Patience + Discipline - Greed = Success
- #66,184
- Mar 6, 2008 11:13am Mar 6, 2008 11:13am
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
Market is just crazy today. AUD/USD to fall 100 pips in a day is not a common thing. GJ forget about it very very unpredictable. This market is clearly no a suit for newbies unless you have a million dollar margin. For newbies I would suggest to look at the bigger picture. If you are trading 4hourly and are in negative look at the Daily and Weekley and be patient cause if you start putting tight stop losses you are going to get whipped out again and again. Just use your judgement.
I think the intraday trading is more for experienced traders, also not a guarantee either these skill traders will make it in a long term.
As suggested by Mike W, I started to agree trading with longer time frames is easier and profitable ( hopefully ..http://www.forexfactory.com/images/icons/icon10.gif ). I am learning to adapt to this trading style too. Not easy as your finger is itchy all the time .. hehee.
Even though I still like intraday trading but more to a Swing trade. I will be happy to consistently earn 30 pips a day. Less trade less risk, I think by looking at longer time frame this can be achieved .. hopefully
- #66,187
- Mar 6, 2008 11:23am Mar 6, 2008 11:23am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
But when? ^^ I don't think letting your position into a lose first then is a good idea.
Closed mine at 15 pips profit
Simon wait till you start trading those 50 lots ... lol .. on GBPJPY you start off with $3000 loss.
Blogging daily now at www.volume.zone
- #66,191
- Mar 6, 2008 11:30am Mar 6, 2008 11:30am
- Joined Aug 2007 | Status: Trader | 2,616 Posts
Ever since I have been trading on longer time frames I have been profitibale every single month. For month of Feb i was up an average of 80 pips a day same as a intraday trades. Sure, intraday trading is fun and you can probably make more but the more you trade the more you expose yourself to losses. Sure, you might be negative some times probably negative 100, 200 and even 300 pips but by looking at longer time frames you will be able to tell what the overall trend is. Ofcourse don't overleverage yourslef its the easiet way to blow your account unless you have a nice margin. All I am saying is trust your charts and as Mike said longer time frame + patience
= profit
= profit
- #66,192
- Mar 6, 2008 11:31am Mar 6, 2008 11:31am
- Joined Jul 2006 | Status: Trader | 4,090 Posts
I dream, therefore I become.
- #66,193
- Mar 6, 2008 11:32am Mar 6, 2008 11:32am
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Trade what you see, not what you think.
- #66,194
- Mar 6, 2008 11:33am Mar 6, 2008 11:33am
- Joined Mar 2007 | Status: Trader | 1,731 Posts
shahroodi agree with me ?
just kidding
i totaly agree with you
- #66,195
- Mar 6, 2008 11:34am Mar 6, 2008 11:34am
Ever since I have been trading on longer time frames I have been profitibale every single month. For month of Feb i was up an average of 80 pips a day same as a intraday trades. Sure, intraday trading is fun and you can probably make more but the more you trade the more you expose yourself to losses. Sure, you might be negative some times probably negative 100, 200 and even 300 pips but by looking at longer time frames you will be able to tell what the overall trend is. Ofcourse don't overleverage yourslef its the easiet way to blow your account unless you have a nice margin. All I am saying is trust your charts and as Mike said longer time frame + patience
Thank You
- #66,197
- Mar 6, 2008 11:34am Mar 6, 2008 11:34am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Agreed, this pair looks very lucrative but at the same time it is a verocious killer as well. I think it's not suitable for newbies.
I think the intraday trading is more for experienced traders, also not a guarantee either these skill traders will make it in a long term.
As suggested by Mike W, I started to agree trading with longer time frames is easier and profitable ( hopefully ..http://www.forexfactory.com/images/icons/icon10.gif ). I am learning to adapt to this trading style too. Not easy as your finger is itchy all the time .. hehee.
Even though I still like intraday trading but more to a Swing trade. I will be happy to consistently earn 30 pips a day. Less trade less risk, I think by looking at longer time frame this can be achieved .. hopefully
I am an intraday trader , but only trade for 5 hours per day otherwise you get burnt out pretty quick. I set profit targets for the day and once met stop trading. If I do 2 losing trades in a row I stop trading ... things are not working for me.
The other thing about intraday trading is choose your time to trade. The best time is during the euro / usa overlap. , 5 am Pacific to about 9am Pacific should net you those 30 pips you are looking for. You need the volatility.
Once you have the 30 pips ( the target you mentioned) stop trading !!! ... reiterate that one. So many times I have been in profit only to give it all back plus some through over trading.
Today for example there was a nice ramp up and a reversal. After that is went into chop. It is not worth sitting there for hours in the chop.... go do something more enjoyable that will refresh your mind and body.
Above all successful trading is not about the entry or exit , or how many pips you make, it is about good money management. If you flipped a coin every day you woke up ... heads for short and tails for long. You did one trade , but with good money management / risk , you would still make profit.
I think there is a forum on Forex factory that has tested this principal.
Blogging daily now at www.volume.zone
- #66,198
- Mar 6, 2008 11:35am Mar 6, 2008 11:35am
- Joined Mar 2007 | Status: Trader | 1,731 Posts
در گیر و دار تنزل پوند ین ما فردا ان اف پی را نیز داریم که منفی است همین
plz don't write persian in this public thread.
plz write in english for public use
tks in advance
- #66,199
- Mar 6, 2008 11:37am Mar 6, 2008 11:37am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
dear hussin
plz don't write persian in this public thread.
plz write in english for public use
tks in advance
It does look cool .. other than the fact that translated i think it means
"that Malcolm guy does not know what he is talking about"
Blogging daily now at www.volume.zone
- #66,200
- Mar 6, 2008 11:38am Mar 6, 2008 11:38am
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
Persian quote
:May be next time I can write down my Chinese characters too
Thanks.