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

  • #85,921
  • May 30, 2008 3:15am May 30, 2008 3:15am
Quoting Evilgoat
how do you know that? and if your right you my new best friend
Ron Paul! Gold UP! UP Forever! USA doom! Ron Paul! Gold UP! UP!
  • #85,922
  • May 30, 2008 3:16am May 30, 2008 3:16am
Quoting Clouds
Ron Paul! Gold UP! UP Forever! USA doom! Ron Paul! Gold UP! UP!
you got it

btw, who the hell is even trading 208 yen for a single sheet of toilet paper anyway?? crazies
  • #85,923
  • May 30, 2008 3:17am May 30, 2008 3:17am
Quoting Que
How can you possibly use MM without a defined stop?
Well not lookin for 30-50 pips, playing large swings so what is 1-2 points if lookin for 10-12.
Now if i was trading the middle of a swing different story. Position sizing is more important,

Like this swing i have set will play outt with any luck to the tune of around 3:1. They will never see my orders unless its resting ore, or its a small ledge breakout which im unsure of then i risk about 20 pips
"Millionaires don't use astrology, billionaires do"
  • #85,924
  • May 30, 2008 3:17am May 30, 2008 3:17am
Quoting RonPaul2008
you got it

btw, who the hell is even trading 208 yen for a single sheet of toilet paper anyway?? crazies
Parity?
  • #85,925
  • May 30, 2008 3:20am May 30, 2008 3:20am
Quoting OrionsWay
Well not lookin for 30-50 pips, playing large swings so what is 1-2 points if lookin for 10-12.
Now if i was trading the middle of a swing different story. Position sizing is more important,

Like this swing i have set will play outt with any luck to the tune of around 3:1. They will never see my orders unless its resting ore, or its a small ledge breakout which im unsure of then i risk about 20 pips
So you still have a soft stop...

Otherwise, I do not see how you can know what % of your account you are risking without knowing how far you wre willing to lose. That would determine how large or small the position size was.
Que
  • #85,926
  • May 30, 2008 3:23am May 30, 2008 3:23am
Quoting Que
So you still have a soft stop...

Otherwise, I do not see how you can know what % of your account you are risking without knowing how far you wre willing to lose. That would determine how large or small the position size was.
mental ones of course, "beyond this point trade is no longer valid" never for protecting profits though.
"Millionaires don't use astrology, billionaires do"
  • #85,927
  • May 30, 2008 3:23am May 30, 2008 3:23am
Quoting Evilgoat
my fav Dubya quote is

"Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we."
my favourite has got to be this little gem:

"Too many good docs are getting out of the business. Too many OB-GYNs aren't able to practice their love with women all across this country."

erm ... ahhh ... mmmkay!
  • #85,928
  • May 30, 2008 3:24am May 30, 2008 3:24am
Quoting quecee5
Shake, shake, shake. . . .
Shake, shake, shake. . .

Morning Q, hope all is well!

Shakes
  • #85,929
  • May 30, 2008 3:24am May 30, 2008 3:24am
Quoting OrionsWay
mental ones of course, "beyond this point trade is no longer valid" never for protecting profits though.
Then I think my point is valid. The only reason I use real stops is because I go to sleep with active trades, go have sex with the wife, work, eat etc all away from the computer.

The fact is, you still use stops. a mental stop is still a stop...
Que
  • #85,930
  • May 30, 2008 3:27am May 30, 2008 3:27am
Quoting rsharpe30
my favourite has got to be this little gem:

"Too many good docs are getting out of the business. Too many OB-GYNs aren't able to practice their love with women all across this country."

erm ... ahhh ... mmmkay!
yeah that's a good one
  • #85,931
  • May 30, 2008 3:28am May 30, 2008 3:28am
This is just my opinion of course...

I think the senior traders on this forum should make it clear that they use mental stops if they are not using physical ones. I see post after post in the beginner section where these guys think its ok to hold a -500 pip loser because they saw some senior guy say he did not use stops.

I know it makes a lot of people feel "Manly" to say they do not use stops. but lets get real here....

No professional or proftable treader disregards the use of stops one way or another. Amateur traders following "Man Up" are the ones who TRUELY use no stops and let there accounts get blown.
Que
  • #85,932
  • May 30, 2008 3:29am May 30, 2008 3:29am
here we go....
  • #85,933
  • May 30, 2008 3:30am May 30, 2008 3:30am
hmmm, i'm short from about 208.10 ... looking to get to 207.40 ish. SL is at 208.90

am i being silly on this one?
  • #85,934
  • May 30, 2008 3:31am May 30, 2008 3:31am
Quoting Que
Then I think my point is valid. The only reason I use real stops is because I go to sleep with active trades, go have sex with the wife, work, eat etc all away from the computer.

The fact is, you still use stops. a mental stop is still a stop...
Yea its more an area. This pair is tough, prolonged irratinal movements with huge amounts of noise, just about everyother bar is a reversal bar. Just my experience it will grab your money and run so now i really dont let it. I dictate my trades fate not the action, and most times where i would put a stop is now where i will add to a position. out think the thinker LOL
"Millionaires don't use astrology, billionaires do"
  • #85,935
  • May 30, 2008 3:31am May 30, 2008 3:31am
Quoting Que
Then I think my point is valid. The only reason I use real stops is because I go to sleep with active trades, go have sex with the wife, work, eat etc all away from the computer.

The fact is, you still use stops. a mental stop is still a stop...
like I have to head to the store soon so I'll set a stop loss to b/e on my short while I buy some munchies for example
  • #85,936
  • May 30, 2008 3:31am May 30, 2008 3:31am
Quoting rsharpe30
hmmm, i'm short from about 208.10 ... looking to get to 207.40 ish. SL is at 208.90

am i being silly on this one?
yes, you can get a lot better than 207.4 my friend
  • #85,937
  • May 30, 2008 3:32am May 30, 2008 3:32am
Quoting Evilgoat
like I have to head to the store soon so I'll set a stop loss to b/e on my short while I buy some munchies for example
you got munchies?? share man share!!!
  • #85,938
  • May 30, 2008 3:35am May 30, 2008 3:35am
Quoting lilmoe
by the way, it's been 3 times since 208.90 that my m4 charts have shown reversal signs only for price to resume it's downtrend.

u're right quecee

shake shake shake

4th reversal pattern failure on m5
  • #85,939
  • May 30, 2008 3:35am May 30, 2008 3:35am
Quoting rsharpe30
you got munchies?? share man share!!!

smoke em if you got em but I don't like to share

cigarettes of course lol wink wink
  • #85,940
  • May 30, 2008 3:35am May 30, 2008 3:35am
Um. Careful shorts, this is only going down because of GU, and not UJ, if UJ suddenly takes off, because of the dollar buying, its over..
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