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

  • #70,841
  • Mar 25, 2008 10:57pm Mar 25, 2008 10:57pm
Anyone know where I can get the file for S/R 123's? I have the daily weekly and monthly pivots but missing the others. TKS
Price does what price wants , I just need to be prepared.
  • #70,842
  • Mar 25, 2008 11:06pm Mar 25, 2008 11:06pm
Quoting jarroo
Two entries: 1st off the retrace of the Pin Bar at 1.9770 and 2nd off the break of the top of the Pin Bar at 1.9885.
  • #70,843
  • Mar 25, 2008 11:14pm Mar 25, 2008 11:14pm
anyone going long should wait 4 a hard break, avoid head fakes
  • #70,844
  • Mar 25, 2008 11:23pm Mar 25, 2008 11:23pm
Quoting peterzbox



hi jacko,
i love your method cos it keeps you always on the game.i believe that overall
its goin to be a success using it.
what about the gj , can you give candid explanations on how to use your method.especially wit reference to stop loss positions?
Hi peterzbox

As I stated earlier
"My "method" can be applied to any currency pair (or gold or any market) that trends. Only the parameters of the Trailing Stop Loss and the contract size are the variables."

In the case of the GBP/JPY, it is more volatile than the EUR/USD, therefore the Trailing Stop Loss should be larger and the number of contracts should be smaller (relative to EUR/USD)

1. If you look at the weekly and daily charts, there was an impressive turnaround in July 2007 and the market has been trending downward ever since. Therefore the main trend is down.
Furthermore, that downward trend since Oct 2007 has accelerated.
Remember: If the chart starts at the top left corner and ends at the bottom right corner...the market is going DOWN (It is amazing the number of people who can't see that!!)

Therefore, as a Trend Trader, you should only be trading in the main , or "short", direction for the GBP/JPY pair.

2. Stops From a quick look at the GBP/JPY pair, it would appear that for a medium term trader, that you would need to use stops of about 150 pips. (Big enough not to be whipsawed by the "noise" of the market, small enough not to cause too much damage too your account...but also sufficient to tell you that your entry was wwwrong)

Also, when you have got this down pat, you should then think about using Trailing Stop Losses that continually lock in your profits as the market continues to move in your direction.
AAAAhhhhhh !!!!! SUCCESS !!!!!!

3. Anti-Hedge Insurance.
Now lets look at the other scenario. You know, the one where you were wwwwwrong. (I have trouble saying that word... LOL ).
The Anti-Hedge is a method that will minimise your drawdowns AND will get you back all or most of your losses if you make a bad trade. It was explained here yesterday. Go here

http://www.forexfactory.com/showpost...ostcount=70735

Use those three steps, plus some reasonable money management and you are assured of successful trading.


.
  • #70,845
  • Mar 25, 2008 11:23pm Mar 25, 2008 11:23pm
Quoting ephisi
anyone going long should wait 4 a hard break, avoid head fakes
If this was the start of the London session, I may go for a hard break. Since it's not, I may short for a quick 40 -50 pips.
Indicators show the past. Price Action "Indicates" the future.
  • #70,846
  • Mar 25, 2008 11:25pm Mar 25, 2008 11:25pm
Hey jaroo I was thinking the same thing, just trying to figure out my entry point
All that is left in FF is just plain garbage. "Cloggie"
  • #70,847
  • Mar 25, 2008 11:25pm Mar 25, 2008 11:25pm
Bearish bats on my 30min and 15 minutes chart, interesting. i was itching to go long. longs b careful. we didnt get a hard break
Attached Images
  • #70,848
  • Mar 25, 2008 11:27pm Mar 25, 2008 11:27pm
Quoting jacko
Hi peterzbox

As I stated earlier
"My "method" can be applied to any currency pair (or gold or any market) that trends. Only the parameters of the Trailing Stop Loss and the contract size are the variables."

In the case of the GBP/JPY, it is more volatile than the EUR/USD, therefore the Trailing Stop Loss should be larger and the number of contracts should be smaller (relative to EUR/USD)

1. If you look at the weekly and daily charts, there was an impressive turnaround in July 2007 and the market has been trending downward ever since. Therefore the main trend is down.
Furthermore, that downward trend since Oct 2007 has accelerated.
Remember: If the chart starts at the top left corner and ends at the bottom right corner...the market is going DOWN (It is amazing the number of people who can't see that!!)

Therefore, as a Trend Trader, you should only be trading in the main , or "short", direction for the GBP/JPY pair.

2. Stops From a quick look at the GBP/JPY pair, it would appear that for a medium term trader, that you would need to use stops of about 150 pips. (Big enough not to be whipsawed by the "noise" of the market, small enough not to cause too much damage too your account...but also sufficient to tell you that your entry was wwwrong)

Also, when you have got this down pat, you should then think about using Trailing Stop Losses that continually lock in your profits as the market continues to move in your direction.
AAAAhhhhhh !!!!! SUCCESS !!!!!!

3. Anti-Hedge Insurance.
Now lets look at the other scenario. You know, the one where you were wwwwwrong. (I have trouble saying that word... LOL ).
The Anti-Hedge is a method that will minimise your drawdowns AND will get you back all or most of your losses if you make a bad trade. It was explained here yesterday. Go here

http://www.forexfactory.com/showpost...ostcount=70735

Use those three steps, plus some reasonable money management and you are assured of successful trading.


.
Excellent, Jacko. I must spent more time in your thread.
Indicators show the past. Price Action "Indicates" the future.
  • #70,849
  • Mar 25, 2008 11:28pm Mar 25, 2008 11:28pm
my 30min 1hr and 4hr still look bullish, i need more confirmation to go long or short dis beast
  • #70,850
  • Mar 26, 2008 12:29am Mar 26, 2008 12:29am
y yall so quiet,
  • #70,851
  • Mar 26, 2008 12:38am Mar 26, 2008 12:38am
coz its boring, up down up down

Quoting ephisi
y yall so quiet,
Why do people only post a nice trending period chart?
  • #70,852
  • Mar 26, 2008 12:40am Mar 26, 2008 12:40am
quiet because im lost dont know just got stop out my short and dont know if i should try again or is it going long so confuse
  • #70,853
  • Mar 26, 2008 12:41am Mar 26, 2008 12:41am
hi guys
could any one do me a favor ?
i m looking for pivot indicators . could you upload your indicators ?
  • #70,854
  • Mar 26, 2008 12:49am Mar 26, 2008 12:49am
We have a fib cluster (fib 50 & 38.2) at 200.45ish level. We stay above this level we could hit 201.00 land.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #70,855
  • Mar 26, 2008 12:59am Mar 26, 2008 12:59am
i would have made a bad trade cos i tot london was open an hour ago. sharoodi pls give us some MOM analyses
  • #70,856
  • Mar 26, 2008 1:08am Mar 26, 2008 1:08am
4 hr mom
Attached Image
  • #70,857
  • Mar 26, 2008 1:16am Mar 26, 2008 1:16am
Quoting jarroo
We have a fib cluster (fib 50 & 38.2) at 200.45ish level. We stay above this level we could hit 201.00 land.
Took a small long position at 200.43. Tight stop loss at 199.90.
Indicators show the past. Price Action "Indicates" the future.
  • #70,858
  • Mar 26, 2008 1:20am Mar 26, 2008 1:20am
why long?
  • #70,859
  • Mar 26, 2008 1:24am Mar 26, 2008 1:24am
Quoting supersaiyanj1
why long?
Short answer is the trend is up on the 4 hour. Price open above the fib cluster, which is a strong S/R level.
Indicators show the past. Price Action "Indicates" the future.
  • #70,860
  • Mar 26, 2008 1:29am Mar 26, 2008 1:29am
Quoting jarroo
Short answer is the trend is up on the 4 hour. Price open above the fib cluster, which is a strong S/R level.
ok im just frozen for the moment dont know which way
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