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GBPJPY scalpers

  • #821
  • Mar 24, 2008 12:52pm Mar 24, 2008 12:52pm
Quoting malcolmb14
You do not need to spend more than 3.5 hours a day trading. More than this and sure you can make more $$$$ , but you also over trade and lose focus as a day trader , and could potentially lose money. Swing traders .. err on gj stand to have large draw downs inflicted upon their accounts.

I instead prefer to go away for the day after i have reached profit targets , and come back to her the next morning with a fresh mind.

I am getting a trading website going in the next could of weeks that I will be posting lives trades in ... kind of like in here today , but in real time. It will be subscribed website , but 1st 2 weeks will be free. We will be trading 4:30 pst to 0800 pst only.

Today I might be back in at 11:30 pst for last 1.5 hours for US markets as there will liekly be a 100 pip drops if the stock day trader longs cover into close.
I'd join you, as I'm PST and trading US/Euro overlap as well.

Scalping a 1M strat at the moment, that really ONLY works on trending markets and not on ranging days.

You see a 100 pip drop in an hour or so ?
Good. Me too. I went short at 200.25 with tight SL.

kj
  • #822
  • Mar 24, 2008 1:15pm Mar 24, 2008 1:15pm
Quoting kujo17
I'd join you, as I'm PST and trading US/Euro overlap as well.

Scalping a 1M strat at the moment, that really ONLY works on trending markets and not on ranging days.

You see a 100 pip drop in an hour or so ?
Good. Me too. I went short at 200.25 with tight SL.

kj
Only if dj sells off will we get that drop I was looking for
Blogging daily now at www.volume.zone
  • #823
  • Mar 24, 2008 1:18pm Mar 24, 2008 1:18pm
Quoting malcolmb14
Only if dj sells off will we get that drop I was looking for
I'm showing a 3 inside down 4 bars ago, and my +Di and -Di are about to cross, my rapid rsi is also just under 70 heading down.
All that is left in FF is just plain garbage. "Cloggie"
  • #824
  • Mar 24, 2008 1:35pm Mar 24, 2008 1:35pm
Even if DJ doesn't sell off, I'll bet the usual 50% retrace during the Asian session.

4H 50sma is around 198.64

I'll take profit at 199 and see what happens.
Very little volume the last 3 hours and 4H candle looks bearish.
Short term of course.

Probably a little retrace down to the lower TL.

But, as you said, we'll just have to wait and see.

kj
  • #825
  • Mar 24, 2008 2:22pm Mar 24, 2008 2:22pm
Quoting malcolmb14
You do not need to spend more than 3.5 hours a day trading. More than this and sure you can make more $$$$ , but you also over trade and lose focus as a day trader , and could potentially lose money. Swing traders .. err on gj stand to have large draw downs inflicted upon their accounts.

I instead prefer to go away for the day after i have reached profit targets , and come back to her the next morning with a fresh mind.

I am getting a trading website going in the next could of weeks that I will be posting lives trades in ... kind of like in here today , but in real time. It will be subscribed website , but 1st 2 weeks will be free. We will be trading 4:30 pst to 0800 pst only.

Today I might be back in at 11:30 pst for last 1.5 hours for US markets as there will liekly be a 100 pip drops if the stock day trader longs cover into close.
PM waiting for you Mr Malcolmb.....
  • #826
  • Mar 24, 2008 3:23pm Mar 24, 2008 3:23pm
The Dj-30 has a nice looking mesa top forming on the 5min. And has 2 gaps as well.We shall see.
Price does what price wants , I just need to be prepared.
  • #827
  • Mar 24, 2008 3:30pm Mar 24, 2008 3:30pm
Quoting malcolmb14
You do not need to spend more than 3.5 hours a day trading. More than this and sure you can make more $$$$ , but you also over trade and lose focus as a day trader , and could potentially lose money. Swing traders .. err on gj stand to have large draw downs inflicted upon their accounts.

I instead prefer to go away for the day after i have reached profit targets , and come back to her the next morning with a fresh mind.

I am getting a trading website going in the next could of weeks that I will be posting lives trades in ... kind of like in here today , but in real time. It will be subscribed website , but 1st 2 weeks will be free. We will be trading 4:30 pst to 0800 pst only.

Today I might be back in at 11:30 pst for last 1.5 hours for US markets as there will liekly be a 100 pip drops if the stock day trader longs cover into close.

Malcolm14,
I am a newborn in Forex. I have been following your thread for quite sometime and I have to say it is very informative. I have learnt some basic stuff from you. You are doing a great job here and I am sure your website will be a hit too.
  • #828
  • Mar 24, 2008 3:32pm Mar 24, 2008 3:32pm
Quoting UltimatePips
Malcolm14,
I am a newborn in Forex. I have been following your thread for quite sometime and I have to say it is very informative. I have learnt some basic stuff from you. You are doing a great job here and I am sure your website will be a hit too.
In addiiton to just trade chat , there will be charts shows , mentoring and training in the evening for 30 min , maybe some weekly charts set ups, etc etc etc
Blogging daily now at www.volume.zone
  • #829
  • Mar 24, 2008 3:33pm Mar 24, 2008 3:33pm
Quoting malcolmb14
In addiiton to just trade chat , there will be charts shows , mentoring and training in the evening for 30 min , maybe some weekly charts set ups, etc etc etc
Sounds good, can you Pm me when up and running?
All that is left in FF is just plain garbage. "Cloggie"
  • #830
  • Mar 24, 2008 3:37pm Mar 24, 2008 3:37pm
HI Malcomb,

Which will be a better pair to go long gbp/jpy or gbp/chf. Thanks.
  • #831
  • Mar 24, 2008 3:40pm Mar 24, 2008 3:40pm
Quoting sharon_gpl
HI Malcomb,

Which will be a better pair to go long gbp/jpy or gbp/chf. Thanks.
Both are forming bull flags right now.

Wait for a breakout of the top of the flag on the 15 min charts,

I like gbpchf

Attached Image (click to enlarge)
Click to Enlarge Name: Chart15.JPG Size: 143 KB
Blogging daily now at www.volume.zone
  • #832
  • Mar 24, 2008 3:40pm Mar 24, 2008 3:40pm
Quoting malcolmb14
In addiiton to just trade chat , there will be charts shows , mentoring and training in the evening for 30 min , maybe some weekly charts set ups, etc etc etc

Even better!
  • #833
  • Mar 24, 2008 3:41pm Mar 24, 2008 3:41pm
hi mal
very much interested please make it asap
  • #834
  • Mar 24, 2008 3:49pm Mar 24, 2008 3:49pm
Hi Malcomb,

When you decide to enter a trade either with gbp/jpy or gbp/chf could you post it please and also is the plan to short eur/cad at 1.5650 still on . Thanks a lot.
  • #835
  • Mar 24, 2008 4:03pm Mar 24, 2008 4:03pm
It sure is forming a nice flag on the 60 minute as well.

On this one you don't get long until price crosses the top of the flag
because you want to confirm it is in fact going to continue up?
Attached Image (click to enlarge)
Click to Enlarge Name: Chart7.JPG Size: 143 KB
  • #836
  • Mar 24, 2008 4:05pm Mar 24, 2008 4:05pm
RRram,

Cant open your image.
  • #837
  • Mar 24, 2008 4:19pm Mar 24, 2008 4:19pm
Quoting sharon_gpl
RRram,

Cant open your image.
It opened for me I just tried it.
  • #838
  • Mar 24, 2008 4:19pm Mar 24, 2008 4:19pm
Quoting rrram2
It sure is forming a nice flag on the 60 minute as well.

On this one you don't get long until price crosses the top of the flag
because you want to confirm it is in fact going to continue up?
1H on the GJ has a big Bear Divergence.
I'd guess a drop to at least the 100sma, at 197.78 area.
  • #839
  • Mar 24, 2008 4:23pm Mar 24, 2008 4:23pm
Quoting kujo17
1H on the GJ has a big Bear Divergence.
I'd guess a drop to at least the 100sma, at 197.78 area.
I wasn't talking about GJ on this one.
  • #840
  • Mar 24, 2008 4:24pm Mar 24, 2008 4:24pm
RRRAM,

I doubled click and got this


<img>The image “http://www.forexfactory.com/attachme...&d=1206392506” cannot be displayed, because it contains errors.
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