Me too.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #74,001
- Apr 18, 2008 1:05pm Apr 18, 2008 1:05pm
- Joined Oct 2007 | Status: Trader | 5,510 Posts
- #74,002
- Apr 18, 2008 1:35pm Apr 18, 2008 1:35pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
- #74,003
- Apr 18, 2008 1:38pm Apr 18, 2008 1:38pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
most of the Sterling pound pairs are doing the same formation, check it out guys. this happens once a life time. TRADERS!!!!!!! IT'S FREE MONEY!!!!
sighs, but i can be wrong of course... (those who contribute to this forum have to say that)
sighs, but i can be wrong of course... (those who contribute to this forum have to say that)
- #74,004
- Apr 18, 2008 1:43pm Apr 18, 2008 1:43pm
- | Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts
most of the Sterling pound pairs are doing the same formation, check it out guys. this happens once a life time. TRADERS!!!!!!! IT'S FREE MONEY!!!!
sighs, but i can be wrong of course... (those who contribute to this forum have to say that)
Patience + Humility + Study = Success
- #74,005
- Apr 18, 2008 1:44pm Apr 18, 2008 1:44pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
You want to put your bermudas on don't you?
:
- #74,007
- Apr 18, 2008 1:51pm Apr 18, 2008 1:51pm
- | Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts
Patience + Humility + Study = Success
- #74,009
- Edited 10:57pm Apr 18, 2008 2:00pm | Edited 10:57pm
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
Short is looking good so far .. 
But I closed mine, dont want to hold it in the week-end.
But I closed mine, dont want to hold it in the week-end.
Q, or anyone doing well on this move
So do you agree with the people here saying it´ll come down to 204.5 again before heading up to 213 or more?? I had to get out of my short in the end, lost a lot but it went up another 400pips so not too sad now I see that I was right.
Also where can I get PA?
Cheers
FIB levels are very powerful. However, you must study their behavior before gaining confidence. Depending upon trading style, some trades will require some intestinal fortitude before hitting your target. It's a very humbling experience the first time you execute a trade & it hits to-the-pip! FIBs can help you do that. Daily, 1hr, & 15m charts work for me.
Then, once you feel comfortable w PA(price action) & the FIB relationship, you will also be able to profit from smaller time frames inside the original trade. Thereby, maximizing your "screen time"
Give FIBs the respect they deserve though. They are very powerful in deed, but human emotion is truly a puzzle. FIBs don't lie, but they can take time. STUDY STUDY STUDY
Check out Skunny's "indicator free trading" forum thread. It appears abandoned now, but the 1st 200 pgs have some valuable offerings
- #74,011
- Apr 18, 2008 2:14pm Apr 18, 2008 2:14pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
- #74,012
- Apr 18, 2008 2:21pm Apr 18, 2008 2:21pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
the downtrend was three much faster than the uptrend that started 3 years ago. so i would think that patterns would "shrink" in size so that it would perform the cycle with the pace the price is moving in ... it happens alot, and sure did happen a couple of times this month and the month before, only on smaller timeframes
take it easy bro, no need to get upset, i'm making my point sound just as good as yours sound...
according to your chart, in the past the low of 192, was tested after 189 was tested, now, the high in between is 205 not 213. the price has to reach 189.xx before going back up.
it's all about the sequence of events (highs and lows) and your sequence was incorrect imo (with all do respect of course).
213 was tested back 2005, but it was tested 3 times in January and February of this year, which is 2 monthly candles back our current candle on your monthly chart.
it's all about the sequence bro. that's my point...
but of course i could be wrong.
q, i really do respect and learn lots from u, so please do not consider this as an insult.
please consider my setup, and tell me ur feedback...
- #74,013
- Apr 18, 2008 3:44pm Apr 18, 2008 3:44pm
the downtrend was three much faster than the uptrend that started 3 years ago. so i would think that patterns would "shrink" in size so that it would perform the cycle with the pace the price is moving in ... it happens alot, and sure did happen a couple of times this month and the month before, only on smaller timeframes
- #74,014
- Apr 18, 2008 5:39pm Apr 18, 2008 5:39pm
i really have learned a lot from reading here and i want to thank everyone who has contributed to this forum.
i have a suggestion that would greatly help noobs like me use all the wonderful indicators posted here. i have downloaded the indies posted today by quecee5 and godfreyh but i have no idea what settings to use or what to look for such as which line crosses what to give a signal. it would be most useful if people would include a short "read me" with their file so there would be no doubt in how to use it. thanks again to all.
i have a suggestion that would greatly help noobs like me use all the wonderful indicators posted here. i have downloaded the indies posted today by quecee5 and godfreyh but i have no idea what settings to use or what to look for such as which line crosses what to give a signal. it would be most useful if people would include a short "read me" with their file so there would be no doubt in how to use it. thanks again to all.
- #74,015
- Apr 18, 2008 6:38pm Apr 18, 2008 6:38pm
- | Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts
Patience + Humility + Study = Success
- #74,016
- Edited Apr 19, 2008 1:35am Apr 18, 2008 11:40pm | Edited Apr 19, 2008 1:35am
- | Commercial User | Joined Sep 2006 | 1,007 Posts
- #74,017
- Edited 4:08am Apr 19, 2008 1:22am | Edited 4:08am
- Joined Oct 2007 | Status: Trader | 5,510 Posts
i really have learned a lot from reading here and i want to thank everyone who has contributed to this forum.
Aus has already posted a self help page located here;
http://www.pnwenterprises.com/auslanco/4-1strategy.htm
Start there to get the basic concept, study it, practice it on a demo account for a while then ask questions as you continue to study this material.
I will eventually put together my version of my trading strategy but right now I don't have the time to do so. I post detailed charts in the forum almost on a daily basis which I think real time analysis is the best way to learn if you study what's presented. . .
Ask questions to the forum if you don't understand. There are many experienced traders in this forum that can assist you if you ask the right questions and present a chart for them to see your thought process. . .
That's what this forum is all about - exchanging knowledge and helping others in their trading methods to minimize losses. However, you have to do your own DD (due diligence) and find what works for your trading style whether it be scalping, intraday trading, long-term or short-term trading.
Depending on your method of trading will dictate how you develop your trading system. Only you can do this by studying, researching concepts, asking questions then tweaking your strategy to the point that you are ultimately satisfied.
Once u build confidence in your strategy trade what your charts are telling you, if you make mistakes (and you will) find out what went wrong in your decision making, tweak your strategy and try again. . . It's all a process and many on this thread have gone thru it and blown many accounts in doing so. . .
Trading Forex is a learning process mentally and emotionally. Once you remove the emotions and practice patience you will be on your way to becoming a better trader. As I have stated before you don't have to take every trade, rather wait for the right trade/set-up. Once this is learned Forex trading can be quite fun and pay huge dividends/pipage in end . . .
Remember, good traders focus on minimizing losses. . .
Gamblers focus more on maximizing capital in a short period of time resulting in huge losses and blown accounts.
Hope this helps - cheers
- #74,019
- Apr 19, 2008 1:48am Apr 19, 2008 1:48am
- Joined Feb 2008 | Status: Trader | 2,258 Posts
DT-you have to realize something here. A bottom in the equity markets was seen when the Bear Sterns situation was settled and the Fed started swapping illiquid mortgage paper for treasuries.
Gordon Brown spent a lot of time with Ben Bernanke today and you can bet this was one of the hot topics of discussion.
Markets are going to be very encouraged when the BoE implements the plan-as a matter of fact, the creation of the TSLF (along with the other lending facilities created during the crisis) will be looked back on as as a major central bank innovation.
All that is left in FF is just plain garbage. "Cloggie"
