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

  • #89,541
  • Jun 5, 2008 3:55pm Jun 5, 2008 3:55pm
any views on a short gbp/aud now
  • #89,542
  • Jun 5, 2008 3:55pm Jun 5, 2008 3:55pm
thanks man for all. ill do it as fast as i can. i've already lost a lot of my equity... And now i don't know what to do I would be really thankful if you would give me any advice.

Quoting mike w
Your trying to do the same thing I did man....listen to me on this. Get the knowledge first. You will completely screw yourself if you don't. You'll end up in a bad trade and then, trying to get out of it or trying to make it ride, lose your equity. There is no fast way to money without empowering yourself with the knowledge of how to make the money in the first place. If I want to play the guitar, I can't just pick it up and play some Hendrix or Grateful Dead without learning the basics first. If you want the knowledge, go to the place where it blooms from - James16 chart thread over in the systems area of the forum. After that, read the articles in the beginners section from the editor. Another piece of reading that I would suggest is "No free lunch but all the free coffee you can drink" thread. It's in the beginners section also. If you follow those things, you have yourself the basis of a solid trader.

P.S. sorry for the long note, but I want to see you succeed.
  • #89,543
  • Jun 5, 2008 3:55pm Jun 5, 2008 3:55pm
Quoting damonl
I was at work and so I missed all the up move, but got some nice pips on the down move before the rally...

i am still long with you on eurcad, could you place your profit targets again for me please?

i have bee trying to watch price movement of fib lines, but time is limited...i will get it though

think 1.6400 to start !!!! I have higher targets at 1.7000 .. yes 1.7000... you are not misreading that.

The channel that formed on the daily and has broken to the upside in the last 2 days was a bull flag , the flag pole was 1800 pips long. The breakout of the flag was 1.5700. That makes target 1.7200.
Blogging daily now at www.volume.zone
  • #89,544
  • Jun 5, 2008 3:59pm Jun 5, 2008 3:59pm
Quoting damonl
what makes you think it will come down? or are you just thinking a minor retracement

Heres a chart, this will become a channel top me thinks

daily bar not present yet , not until 6pm est
Attached Image (click to enlarge)
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"Millionaires don't use astrology, billionaires do"
  • #89,545
  • Jun 5, 2008 3:59pm Jun 5, 2008 3:59pm
Quoting Clouds
any views on a short gbp/aud now
I would not be shorting anything gbp realted right now .. I believe there is going to be a 180 degree turn around on the gbpusd next week . Tomorrow will be the confirmation of that bullish pattern forming in the GBPUSD daily.

Then by the end of next week I would close all longs as all hell is going to break loose on the weekend before June 16th.

I believe we see a large drop in the markets week after next.

Look up the recent news on Lehman Brothers ... the next Bear Stearns
Blogging daily now at www.volume.zone
  • #89,546
  • Jun 5, 2008 4:03pm Jun 5, 2008 4:03pm
Quoting malcolmb14
I would not be shorting anything gbp realted right now .. I believe there is going to be a 180 degree turn around on the gbpusd next week . Tomorrow will be the confirmation of that bullish pattern forming in the GBPUSD daily.

Then by the end of next week I would close all longs as all hell is going to break loose on the weekend before June 16th.

I believe we see a large drop in the markets week after next.

Look up the recent news on Lehman Brothers ... the next Bear Stearns
however, GBP/AUD has been downtrend for 6 years, but it may not be the right time to short ATM
  • #89,547
  • Jun 5, 2008 4:05pm Jun 5, 2008 4:05pm
Retracement to 206.50 and then continuation upwards

Later
Trade what you see, not what you think.
  • #89,548
  • Jun 5, 2008 4:11pm Jun 5, 2008 4:11pm
Quoting banan
thanks man for all. ill do it as fast as i can. i've already lost a lot of my equity... And now i don't know what to do I would be really thankful if you would give me any advice.

Listen to Mike. He knows what he is talking about. You must learn to trade first and if you are losing I would suggest everything Mike said plus to trade on a demo account untill you feel confident that you know what you're doing. If you have no idea and have to ask others for direction, then you are not ready. What ever you do, DO NOT QUIT. I had lost a lot of money and didn't think I could do it anymore and Mike set me straight. Don't give up but don't continue doing the same things you are doing now. Read and read and read and then read some more. Myself, I am definetly back from the dead. Do not over leverage. Trust me. Slow and steady wins the race. Try to build your account slowly. Trying to get everything back quickly will just make you lose more. It's also a good idea to take a break every now and then. You don't have to trade every day. This business can be stressful at times so take a break now and then to refresh your mind. Most important, read the threads Mike has mentioned. I know they are long, but no body said this was easy. You must put the time and effort in if you want to be succesful. There is tremendous potential and opportunity here. It's up to you to want it bad enough to do the work. By the way, thanks again Mike.
  • #89,549
  • Jun 5, 2008 4:12pm Jun 5, 2008 4:12pm
Price is at a critical point right now........(in trendless area)
New daily bar should give more insight ( in the next hour for me)..

However... a daily close above 207.70 means this baby is going all the way to 209 @ least...if not then possibility of returning to 205.85 level
  • #89,550
  • Jun 5, 2008 4:17pm Jun 5, 2008 4:17pm
Hey, What the heck happened to Dutch? Haven't seen him around.
  • #89,551
  • Jun 5, 2008 4:17pm Jun 5, 2008 4:17pm
closing longs before Asian session begins.
Attached Image (click to enlarge)
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  • #89,552
  • Jun 5, 2008 4:25pm Jun 5, 2008 4:25pm
keepngi my yen longs, and shorting eur/cad for a few pips
  • #89,553
  • Jun 5, 2008 4:30pm Jun 5, 2008 4:30pm
Quoting pipdiddy
closing longs before Asian session begins.
errrrrrrrrrrrrrrm, excuse me. just wondering what killing a wild animal from a distance, with a weapon has to do with trading forex ? forgive my ignorance
  • #89,554
  • Jun 5, 2008 4:35pm Jun 5, 2008 4:35pm
screw it, shorting yen
  • #89,555
  • Jun 5, 2008 4:38pm Jun 5, 2008 4:38pm
Quoting Clouds
screw it, shorting yen
What an indecision, man!!!
  • #89,556
  • Jun 5, 2008 4:41pm Jun 5, 2008 4:41pm
Quoting Küster
What an indecision, man!!!
ill short everything tall,
  • #89,557
  • Jun 5, 2008 4:42pm Jun 5, 2008 4:42pm
I've tried to catch up some of your posts .. majority were and are short and praying ..
Guys, I posted a Dow chart yesterday just about 24 hours ago regarding Dow bullish divergence. But some of you didn't buy it and thought it'd go below 12,000 level. Well.. don't want argue with that ..
Anyway, the bullish divergence has played out very nicely now. GJ & EJ have upped so much but not UJ and tomorrow is NFP day. We may likely see some profit taking before it.
I see today's moves were mainly driven by EUR strength and the improvement of coming European GDP outlook. But, the Usd is starting to gain strength as well. If tomorrow's NFP number is good, we would likely see EUR and GBP sell off a bit and that would drag GJ and EJ down. The UJ may up but not much .. imo .. due to persistent of risk aversion that is still prevailing but is getting less prevailing nowadays.
Well .. this is my heads up ..may completely be the opposite of what the market will do .. hehe
  • #89,558
  • Jun 5, 2008 4:42pm Jun 5, 2008 4:42pm
Quoting Clouds
screw it, shorting yen
llooooooooooooooooll
  • #89,559
  • Jun 5, 2008 4:46pm Jun 5, 2008 4:46pm
Quoting Dmac
Listen to Mike. He knows what he is talking about. You must learn to trade first and if you are losing I would suggest everything Mike said plus to trade on a demo account untill you feel confident that you know what you're doing. If you have no idea and have to ask others for direction, then you are not ready. What ever you do, DO NOT QUIT. I had lost a lot of money and didn't think I could do it anymore and Mike set me straight. Don't give up but don't continue doing the same things you are doing now. Read and read and read and then read some more. Myself, I am definetly back from the dead. Do not over leverage. Trust me. Slow and steady wins the race. Try to build your account slowly. Trying to get everything back quickly will just make you lose more. It's also a good idea to take a break every now and then. You don't have to trade every day. This business can be stressful at times so take a break now and then to refresh your mind. Most important, read the threads Mike has mentioned. I know they are long, but no body said this was easy. You must put the time and effort in if you want to be succesful. There is tremendous potential and opportunity here. It's up to you to want it bad enough to do the work. By the way, thanks again Mike.
Sure thing and thanks for the kind words man! I'm glad to know that I could help you out in at least some way or another.
Banan, everything in this post is the truth man. I've been there before too and I know how it goes when your starting out. The bold ones are the ones to follow. Perseverance is key in this business.
I dream, therefore I become.
  • #89,560
  • Jun 5, 2008 4:46pm Jun 5, 2008 4:46pm
MK those chart DOW charts you posted are they available for free?
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