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

  • #68,301
  • Mar 14, 2008 9:57am Mar 14, 2008 9:57am
Quoting karmostaji
When I say that, I mean regular news we get from the market on daily/weekly basis, such as CPI PPI, sales, etc etc.., but shocking news such as today's bearn sterns or an emergency rate cut or Japan intervention, you must take note otherwise it might just kill the account.

Of course every trader must understand the news and know how to interpret it.
lol price is news,news is price except..ohhh my God margin call...news first then every other things follow,even patience
Imanuel Parsifal
  • #68,302
  • Mar 14, 2008 9:57am Mar 14, 2008 9:57am
Quoting malcolmb14
OK check news on Bear Stearn ...... they had to borrow from Fed and JP morgan due to margin calls on mortgage bonds.

This market is in trouble

That is the second one in days.

The banks in Japan have not reported yet. They have massive sub prime debt loads.

I know Karmo says take no notice of the news , but you have to understand it to survive.

It is not all on technicals.

Put it this way loads of traders were looking to chase this morning , myself and another guy were on skype and he was getting long signals from a service he uses which is very good and has an awesome batting average( pipsnipers)

The bearish div on the 5 , 10 and 15 min showed somewthing was up. I told him to sit and wait as i had a short trigger developing on 3 min. and with the bearish divergences setting up likely hood of that trade working was 99%.

the fill on YM was 12275. sell order.

most 30 year veteran traders do not have cnbc news or some sort of squawk box giving market news in the back ground to get news for no reason.

Put it this way you hear news on bear sterns you would have closed all long positions immediately.
good advise, malcolmb
  • #68,303
  • Mar 14, 2008 9:59am Mar 14, 2008 9:59am
Quoting malcolmb14
sorry Karno you are an awesome trader ... but you are telling newbies to ignore news like CPI , NFP and hell you may as well ignore the interest rate annocements as well .

GJ moved 180 pips up on the CPI this morning as it was not higher than expected thus meaning the feds had room for interest rate cuts on Tuesday , where as there is inflation concerns out there right now .

following the news is very important. I traded gj for a few pips on cpi . i was in long even before the news broke ... took a very quick 35 pips off the table.

I have a trick that has allowed me to make 300 pips trading news last 4 days,.

sorry i will not share it ... secret weapon
You trade the news, I don't.
You trade shorter TF's most of the time, I don't.

It depends on what kind of a 'trader' you are.

I keep track of news but I don't take trades based on them, that's all.
Trade what you see, not what you think.
  • #68,304
  • Mar 14, 2008 10:00am Mar 14, 2008 10:00am
Quoting sycho
lol price is news,news is price except..ohhh my God margin call...news first then every other things follow,even patience
are you normal?
Trade what you see, not what you think.
  • #68,305
  • Mar 14, 2008 10:05am Mar 14, 2008 10:05am
Quoting karmostaji
You trade the news, I don't.
You trade shorter TF's most of the time, I don't.

It depends on what kind of a 'trader' you are.

I keep track of news but I don't take trades based on them, that's all.

Karmo

1sy i want to say you are an awesome trader.

I do see that you have large draw downs on your account in the region of 300 - 400 pips at times.

This would kill most newbie traders accounts as they take to large a position to begin with
Blogging daily now at www.volume.zone
  • #68,306
  • Mar 14, 2008 10:06am Mar 14, 2008 10:06am
Quoting karmostaji
You trade the news, I don't.
You trade shorter TF's most of the time, I don't.

It depends on what kind of a 'trader' you are.

I keep track of news but I don't take trades based on them, that's all.
hey take it easy bro..the only reason we keep some deadly tactis we use is because we can handle the mentally and financially...but most newbies here cant.the news can sweep you acc empty before going as expected..try to understand
Imanuel Parsifal
  • #68,307
  • Mar 14, 2008 10:06am Mar 14, 2008 10:06am
Quoting karmostaji
are you normal?
I think his name speaks for itself.
Indicators show the past. Price Action "Indicates" the future.
  • #68,308
  • Mar 14, 2008 10:08am Mar 14, 2008 10:08am
Quoting malcolmb14
Karmo

1sy i want to say you are an awesome trader.

I do see that you have large draw downs on your account in the region of 300 - 400 pips at times.

This would kill most newbie traders accounts as they take to large a position to begin with
I'm here to share my analysis, and newbie's need to read all the stickied threads in the beginner's forum before trading.

They need to do their homework, you can't tell me not to tell my ideas or strategies because newbie's are going to follow blindly.

Whoever does, it is his/her responsibility, I'm not forcing no newbie to do anything.

I have enough margin to handle drawdowns, at the end of the road I come out with profit, I'm happy.
Trade what you see, not what you think.
  • #68,309
  • Mar 14, 2008 10:16am Mar 14, 2008 10:16am
Selling GU and Buying GJ at the current trend..
Is this good strategy.. Guys any comments on this..
  • #68,310
  • Mar 14, 2008 10:20am Mar 14, 2008 10:20am
Good day all. . .
  • #68,311
  • Mar 14, 2008 10:20am Mar 14, 2008 10:20am
Heads up!! Bush is going to talk about the economy now....
  • #68,312
  • Mar 14, 2008 10:21am Mar 14, 2008 10:21am
Quoting sieb_ila
Selling GU and Buying GJ at the current trend..
Is this good strategy.. Guys any comments on this..
since ur asking in this thread, try to learn auslanco's and malcomb's technique, u will do well.

for now, GJ is in consolidation period. try to stay away. but i see it will go up, up up up up up up up but not too far

* and always keep up to date with the news
  • #68,313
  • Edited 10:43am Mar 14, 2008 10:23am | Edited 10:43am
If I were trading today, I would be buying the lows, judging from what I see.

I see buying interest down there.
  • #68,314
  • Mar 14, 2008 10:24am Mar 14, 2008 10:24am
Quoting sieb_ila
Selling GU and Buying GJ at the current trend..
Is this good strategy.. Guys any comments on this..
welcome to forex.i dont know you level of xperince but for you to try something that risky,selling and buying the same pair..guess you know what your doing..best of luck
Imanuel Parsifal
  • #68,315
  • Mar 14, 2008 10:25am Mar 14, 2008 10:25am
Quoting sycho
hey take it easy bro..the only reason we keep some deadly tactis we use is because we can handle the mentally and financially...but most newbies here cant.the news can sweep you acc empty before going as expected..try to understand
Its very honerable that you are looking out for newbies and I agree. When I see someone making rookie mistakes, I may state my own exiperience and say "hey, trading 33% of your account is not a wise thing to do." lol

But if some newbie loses his or her account by overtrading or letting his loses ride and cutting his profits short. Shame on them. Tough lesson to learn. (hopefully)
That's how newbies become non-newbies.
Indicators show the past. Price Action "Indicates" the future.
  • #68,316
  • Mar 14, 2008 10:28am Mar 14, 2008 10:28am
Whats up Q man!
  • #68,317
  • Mar 14, 2008 10:28am Mar 14, 2008 10:28am
Quoting quecee5
Good day all. . .
hello q where have you been all day..have been at school and just came back to take a look in,will be leaving soon ..how was the week trade
Imanuel Parsifal
  • #68,318
  • Mar 14, 2008 10:29am Mar 14, 2008 10:29am
Quoting forexian
Heads up!! Bush is going to talk about the economy now....
yeah.. the conman is doing speech live on cnn..
  • #68,319
  • Mar 14, 2008 10:32am Mar 14, 2008 10:32am
Quoting ovaforty
If I were trading today, I would buying the lows, judging from what I see.

I see buying interest down there.
I'm with u but I think there will be more lows to come. . .

I sold UJ this a.m. on the run-up bought back at 99.68 and sold it again at 100.38, currently flat on this one right now. I also sold my EU short this a.m. for about 60 pips but I re-shorted at 1.5682 (currently in profit).

As for GJ it's been fun on this one. . . Sold yesterday at 204 from 205.12, waited and shorted it at 205 again all the way down to 202.90 this time. Bought it back at 203.15 and road ot back up to 204.60 and took profit - currently flat on this one right now. . .

This ranging has been a treat this week. . .
  • #68,320
  • Mar 14, 2008 10:32am Mar 14, 2008 10:32am
Quoting jarroo
Its very honerable that you are looking out for newbies and I agree. When I see someone making rookie mistakes, I may state my own exiperience and say "hey, trading 33% of your account is not a wise thing to do." lol

But if some newbie loses his or her account by overtrading or letting his loses ride and cutting his profits short. Shame on them. Tough lesson to learn.
That's how newbies become non-newbies.
thats right man,or probably never trade again..any way its the way the cookies crumble
Imanuel Parsifal
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