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

  • #67,381
  • Mar 11, 2008 7:02am Mar 11, 2008 7:02am
Quoting danryman78
i do not think so because this movement was because of the news not technical reason and i think it is going to come back soon .
Technical reasons are why we were targeting 207.78/208.47 in the first place.
  • #67,382
  • Mar 11, 2008 7:06am Mar 11, 2008 7:06am
Quoting ovaforty
Technical reasons are why we were targeting 207.78/208.47 in the first place.
The Technicals were Bullish and expected !!!!
Imagination is more important than knowledge. -- Albert Einstein
  • #67,383
  • Mar 11, 2008 7:07am Mar 11, 2008 7:07am
Just curious to know. If it's too personal I understand but what lot size are you guys trading where you are making 200 and 300 pips?
  • #67,384
  • Mar 11, 2008 7:09am Mar 11, 2008 7:09am
Quoting Dmac
Just curious to know. If it's too personal I understand but what lot size are you guys trading where you are making 200 and 300 pips?
Small enough to with stand a drawdown of 500 pips or so. Depends on your MM.
  • #67,385
  • Mar 11, 2008 7:09am Mar 11, 2008 7:09am
Quoting Dmac
Just curious to know. If it's too personal I understand but what lot size are you guys trading where you are making 200 and 300 pips?
1 mini lot
  • #67,386
  • Mar 11, 2008 7:10am Mar 11, 2008 7:10am
Quoting Dmac
Just curious to know. If it's too personal I understand but what lot size are you guys trading where you are making 200 and 300 pips?
It depends on your MM and your account size.

20 lots can be pennies for someone but a dream for another
Trade what you see, not what you think.
  • #67,387
  • Mar 11, 2008 7:11am Mar 11, 2008 7:11am
Quoting danryman78
i do not think so because this movement was because of the news not technical reason and i think it is going to come back soon .
danryman78, news or technical doesn't matter. The buyers and sellers interaction matters. This nice ride which gave me good profit was a mixture of both technical and news but I think we should look at chart, there we can see how buyers and sellers contribute in the market movement and then follow them.

This nice ride gave me +350 pips from 203.70 till 207.22. It was easy. I entered at divergence and closed it again at divergence. I hope everyone made some pips from this.

I think it is enough for today.
Discipline + Patience - Fear - Greed = Success
  • #67,388
  • Mar 11, 2008 7:11am Mar 11, 2008 7:11am
it will be interesting if we are closed 4h belowe 205.80
  • #67,389
  • Mar 11, 2008 7:11am Mar 11, 2008 7:11am
Quoting kujo17
This is why I had to switch to trading 4am to 10am pst.

I was getting boned on US news while asleep here on the west coast.

Rode her down nice yesterday.
Missed some of this ride up, but scalped out a few and now I'll take her down on the retrace from 206.90, first tp is at 20sma on the 15, 206.17.

Ahhh, soo good to be back trading.
What a rush.

And the GJ has surely been filling all our bank accounts nicely these last few weeks, huh.


kj
punched out at the 10sma for a quick 30 pips.
doesn't look like a retrace is gonna happen.
  • #67,390
  • Mar 11, 2008 7:15am Mar 11, 2008 7:15am
Quoting Dmac
Just curious to know. If it's too personal I understand but what lot size are you guys trading where you are making 200 and 300 pips?
lot size depend on your sl and your account risk.
formula is:
acount risk=SL*lot size*pip value
for example:
for a 30k account with 3% risk(that is 900$) and 100 pip sl in a position and pip value of 10$
then lot size will be
900=100*lot size*10----------lot size=0.9 lot or 9 mini lot
  • #67,391
  • Mar 11, 2008 7:22am Mar 11, 2008 7:22am
Quoting arezab
danryman78, news or technical doesn't matter. The buyers and sellers interaction matters. This nice ride which gave me good profit was a mixture of both technical and news but I think we should look at chart, there we can see how buyers and sellers contribute in the market movement and then follow them.

This nice ride gave me +350 pips from 203.70 till 207.22. It was easy. I entered at divergence and closed it again at divergence. I hope everyone made some pips from this.

I think it is enough for today.
Hi Arezab,
First congrat!!second ,may I ask what divergence are you talking about please?

Thanks
Mike
Failure, is a wonderful teacher!
  • #67,392
  • Mar 11, 2008 7:34am Mar 11, 2008 7:34am
Quoting mike1349
Is this spike was for this little piece of news?

7:30am USDhttp://www.forexfactory.com/images/m...mpact_high.gifTrade Balance
http://www.forexfactory.com/images/m...etail_star.gif http://www.forexfactory.com/images/misc/progress.gif-58.2Bhttp://www.forexfactory.com/images/m...ol_refresh.gif -59.5B-58.8B
This one is better:

The Fed launched a $200 Billion stimulus plan.

http://www.cnbc.com/id/23573249
Failure, is a wonderful teacher!
  • #67,393
  • Mar 11, 2008 7:41am Mar 11, 2008 7:41am
Yay for th weeklyt pin bar and buying right by the low again at a discount. Price action on higher timeframes is king in this business. 4 hour bars don't have anything on weekly bars and so on. Think about it guys, towards the bottom everyone was yelling short becuase your looking at lower timeframes. Higher timeframes tell the true story. You will become more profitable if you make the move. Now, it's just up to you whether you do or not. Don't leave yourself wanting more out of this market, instead just make it happen for yourself.
I dream, therefore I become.
  • #67,394
  • Mar 11, 2008 7:41am Mar 11, 2008 7:41am
Quoting arezab
danryman78, news or technical doesn't matter. The buyers and sellers interaction matters. This nice ride which gave me good profit was a mixture of both technical and news but I think we should look at chart, there we can see how buyers and sellers contribute in the market movement and then follow them.

This nice ride gave me +350 pips from 203.70 till 207.22. It was easy. I entered at divergence and closed it again at divergence. I hope everyone made some pips from this.

I think it is enough for today.
thanks arezab . i think price was caming back when a doji candle had been appeared and when the news released pice begin to go higher and because of that price should come back around 206 . do you agree?
  • #67,395
  • Mar 11, 2008 7:43am Mar 11, 2008 7:43am
Be smart about it. Now, looking at the dailies, I would be expecting even more bullishness because we're probably going to be looking at a bullish engulfment pattern. We just have to wait for the close though.
I dream, therefore I become.
  • #67,396
  • Mar 11, 2008 7:45am Mar 11, 2008 7:45am
Quoting mike w
Yay for th weeklyt pin bar and buying right by the low again at a discount. Price action on higher timeframes is king in this business. 4 hour bars don't have anything on weekly bars and so on. Think about it guys, towards the bottom everyone was yelling short becuase your looking at lower timeframes. Higher timeframes tell the true story. You will become more profitable if you make the move. Now, it's just up to you whether you do or not. Don't leave yourself wanting more out of this market, instead just make it happen for yourself.
Some people like to take it the hard way
Trade what you see, not what you think.
  • #67,397
  • Mar 11, 2008 7:48am Mar 11, 2008 7:48am
Quoting karmostaji
Some people like to take it the hard way
This is true man. I did when I started though so I can't say much lol The light, when you see it, is beautiful though.
I dream, therefore I become.
  • #67,398
  • Mar 11, 2008 7:49am Mar 11, 2008 7:49am
Quoting mike w
Be smart about it. Now, looking at the dailies, I would be expecting even more bullishness because we're probably going to be looking at a bullish engulfment pattern. We just have to wait for the close though.
Thanks bro
any comments on gbp/usd long term
  • #67,399
  • Mar 11, 2008 7:56am Mar 11, 2008 7:56am
Quoting juliekhan
Thanks bro
any comments on gbp/usd long term
Gbp/usd, I'm looking for this retracement to finish to get another good buying area in. Overall, this next monthly candle should say it all. If it closes as a reversal, then down we go. If not, then I think we'll see a continuation of bullishness. Now, IF we would get a reversal candle on the monthly, then that would push g/j down to the gates of hell in the next month IMO. We're only 11 days into it though so it's going to take a while to play out.

At the moment, though, Im looking for the retracement to finish in the 1.99's and possibly even the 1.98's as a good buying point. It's already come down quite a bit so I'm not sure as to how quickly this move will become exhausted. What are your thoughts on it?
I dream, therefore I become.
  • #67,400
  • Mar 11, 2008 8:13am Mar 11, 2008 8:13am
Daily candle could close higher and form a double bottom higher close. I booked my profits today at the 5 sma high so i dont care what it does today. I was buying against the move down trusting my weekly and daily charts.

We may see a move to test the daily 5 sma again at the 206 area.
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