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

Quoting gene22

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Yes, you are correct, there is an opposite scenario that I of course have at the moment, but, and I repeat there is a big BUT, in order for that to happen there has to be a major fundamental shift in the markets and the entire world economy, and that scenario at this point is beyond unlikelly, beyond....
Everything right now to me is noise, pure and simple noise, The shift on the 1st that I was waiting for since the last low on 3/17 happened, price wize and time wize, untill it is invalidated I will stick to it period. There are some other minor possibilities of the last high being exceeded, as I had stated earlier but that has to happen for me to switch to neutral view first or turn even more bearish at a later point. I have the next day in advance allready, so will watch and see. Judging by the recent price action and a very important announcements that are about to happen I treat this as buy the rumor sell the fact type of rally, nothing more, nothing less, you might think that the current dollar rally looks impressive, but it is nothing more than a correction, a classic continuation bear flag pattern. Here is a freebie, hey Clouds, you there?! watch what happens on the 9th once the price alligns it self with time, if the price will reach 74.40-50 on that day, that's approximatelly 70 pips up from current levels on the dollar index, watch out below.... I wouldn't want to be long any USD at that point.

LOL, sure outcome, anything sure in this life are death and taxes, moving on to the current situation I would say that presently some key levels would have to be invalidated on a daily closing bases, some major shifts would have to occur, and if that does happen I will change my view and switch my positions. I rarelly trade intraday the way most here are in FF. I built my positions similar to institutionals and then once the move is confirmed I may add to it more, on the intraday basis and start to liqudate according to time schedule and some extreme price levels.

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Quoting Clouds

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Tails, Im selling

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Quoting damonl

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it has broken through the upper t/l that has held which is now at 164.36 ish.....it may be possible to retest this area and continue on up....we'll have to see how well this line holds.... the blue "x" represents today's high

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Quoting mike w

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Plot a 5 sma out on your daily chart. Price retraces or moves to that area quite a bit.

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Quoting Dmac

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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.

so true my brother. my 1st account I put $1000 and I wiped it out my 1st day did I learn from that NOPE I put another $1000 in and lost that too only it took me a week that time. I wanted give up all together I was really pissed at myself for losing $2000. I know for some people $2000 is nothing buy I was only making $20K a year so that $2000 took me a long time to save up. I came down hard on myself for making so many stupid mistakes considering I had played a demo account the smart way before all this and proved to myself I could do grow an account But I still fell into the trap of trying to go to big to fast. It was about 2 months I never traded I had given up and excepted that I'd never be anything more than I was stuck working warehouse work that bored the hell out of mind and was hard on my body.
Than one day had visited my father and we were having a couple beers and I told him how stupid I was for trying to become a forex trader I fully excepted him to agree with me and call me a idiot for wasting that much money but he didn't he looked at me and said quote " When it comes to money nothing in life is easy, so if you want to become a trader work your damn ass off put more on your account and don't f*@% it up this time." I so did and this time I grew my account slowly almost to damn slow to stand but i did. By X-mas last year when I went to his house for supper I had made the money I lost back and a little more and when I told him he goes see I told you hard work pays off so when are you buying me my boat lol I said maybe next year old man.
He passed away Jan 14 2008 at the age of 62 of a heart attack. I stopped trading or doing much of anything really I was just going to cash out what I had and call it quits again until april when I randomly found this site which lit the fire under me that he had lit a year before. I found I site that had people like me that I could talk to joke around with and learn from.
But now I have a goal I'm buying my old man his 40 foot sail boat.

SO banan if I can do it you can do it. Just remember work your ass off and don't F*@% it up lol.

sorry it took so long to post this I wasn't sure I could. But if it can help someone than it will be wroth the emotions it brought up.

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Quoting Küster

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Lost for words...

...but you are still way better than me.

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Quoting Evilgoat

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Good luck brother,

with motivation and the right heart, nothing can stop you. let us know how its going.

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Quoting tma_21

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hii guys...
any comment or analysis about the UJ?
thanks...

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Quoting lilmoe

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lesson learned #2: if a huge bear or bull is to come, i mean 1000+ pip ones, what's losing 200-300 pips in order to get full confirmation? i think that's a cheap price.

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Quoting Dmac

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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.

so true my brother. my 1st account I put $1000 and I wiped it out my 1st day did I learn from that NOPE I put another $1000 in and lost that too only it took me a week that time. I wanted give up all together I was really pissed at myself for losing $2000. I know for some people $2000 is nothing buy I was only making $20K a year so that $2000 took me a long time to save up. I came down hard on myself for making so many stupid mistakes considering I had played a demo account the smart way before all this and proved to myself I could do grow an account But I still fell into the trap of trying to go to big to fast. It was about 2 months I never traded I had given up and excepted that I'd never be anything more than I was stuck working warehouse work that bored the hell out of mind and was hard on my body.
Than one day had visited my father and we were having a couple beers and I told him how stupid I was for trying to become a forex trader I fully excepted him to agree with me and call me a idiot for wasting that much money but he didn't he looked at me and said quote " When it comes to money nothing in life is easy, so if you want to become a trader work your damn ass off put more on your account and don't f*@% it up this time." I so did and this time I grew my account slowly almost to damn slow to stand but i did. By X-mas last year when I went to his house for supper I had made the money I lost back and a little more and when I told him he goes see I told you hard work pays off so when are you buying me my boat lol I said maybe next year old man.
He passed away Jan 14 2008 at the age of 62 of a heart attack. I stopped trading or doing much of anything really I was just going to cash out what I had and call it quits again until april when I randomly found this site which lit the fire under me that he had lit a year before. I found I site that had people like me that I could talk to joke around with and learn from.
But now I have a goal I'm buying my old man his 40 foot sail boat.

SO banan if I can do it you can do it. Just remember work your ass off and don't F*@% it up lol.

sorry it took so long to post this I wasn't sure I could. But if it can help someone than it will be wroth the emotions it brought up.

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Quoting SuperV900

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Anyone watching EG? looks like a good time to short it...

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Quoting malcolmb14

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100 .. no wait 85 .. no hold on 99 .. no wait 76 .....

hell I have no clue in this volatile market.

YM ( dj e-minis moved OVER 500 points today in 4 major waves). The markets seem very undecided.

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Quoting lilmoe

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geez, this thread is in an exponential growth rate... i can't keep up with all the posts, and i have to check each time and go back, say 25-30 pages each time i come back here.

this sucker doesn't want to come down. whatever, lol. came back to see my new shorts stopped out. screw it.

lesson learned #1; and no, it's not getting married to a trade. it's trying to get the very top and very bottom of swings. bad idea. and seeking it just as hard as seeking the start and end of a rainbow; no matter how far u go, it's a never ending journey.

i believe UJ has reached it's limits. the daily chart i posted suggests so. and yes i shorted UJ at 106.20, setting my stops 20 pip above that. i'm keeping the shorts for GJ i had since 209. setting SL at B/E (why won't i close them now? because i'm already way above monthly target, and i'm ready to risk "not making more money" this month)

lesson learned #2: if a huge bear or bull is to come, i mean 1000+ pip ones, what's losing 200-300 pips in order to get full confirmation? i think that's a cheap price. i did however think that GJ will fall. i also did think it will bounce up and down lots 2-4 times before that bear roars, but judging the price is "refusing" to close below the levels i had mind keeps me in wonders.

lessen learned #3: i do believe that price will actually try to manipulate traders before a big move, giving false signals here and there. i went back 1 week before each fall and each rise, and no, it doesn't do "that much manipulation". it actually screams at u what it WILL do. u just have to look at it in a VERY unbiased manner. i had "bear" echoing in my brain for a month now. i did make lots of pips the past 2 months, but i would've WAYYY more if i had been unbiased. i would've made 30-40% more of what i did if i had been.

confession: i still believe GJ will go down. that's my own analysis and my own prediction.

confession: i have been long multiple times today, yesterday and the day before, i just didn't post them because i thought they'd be losers. but wow. my strategy works like crazy. all i have to do is follow it, and it will raise my account way more than i would if i was seeking tops and bottoms all the time.

fact: my little brain has actually been manipulated by friends and people on this thread.

fact: i make way more pips when i work alone without reading this thread.

q: why do i read this thread?
a: because i learned so many things in the past year that would've taken me all the years it took the guys here to learned what they have shared, combined.

q: why do i still read it when it actually brings "noise" to my decisions and thread of thoughts?
a: because i still learn something new everyday. and i use that to improve my OWN strategy.

thank you guys. u have been such a grace.

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Quoting lilmoe

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my broker provides coffee arabica futures, and damn does this thing MOVE. today it went up 400 pips, yesterday wasn't alot only 200. yesterday it went down 600 pips (Damn). on may 22, it moved 900 pips in 3 hours.

i have never seen anything easier to trade. this sucker is GOOD.
i might even say goodbye to GJ, loool, kidding.

mastering GJ is my quest, and when i do so, then and only then would i feel like i accomplished something special

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