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

I got it, married but available.

thanks lilmoe and ukvi . i'm taking her to a nice sushi place, hope she'll love it.
and if g-j starts falling next week, i'll take her to hawaii soon.
alright, gotta go (for real now).
enjoy the weekend!

http://www.forbes.com/afxnewslimited...fx5089523.html

oil Prices shot higher on Friday after comments that an Israeli attack on Iranian nuclear sites looks 'unavoidable' from one of Prime Minister Ehud Olmert's deputies. <----- I bet all his buddies longed oil just before he said too. what an IDIOT!

http://www.dw-world.de/dw/article/0,...395336,00.html

"Russia is now a global player and understands its responsibility for the fate of the world," said Medvedev <-----why doesn't that help me relax?

food for thought
I pray for peace

you too scrat; take it easy

can i join u guys to hawaii?

don't worry, i'll just the good ole fellow trader who joined u guys to hawaii that summer

Hey .. am still single and looking ..

After several months, I've come to realize that everyone has to find their own style of trading. Some persons are medium to long term position traders, some intra-day traders and others are scalpers. That being said, I would caution you against scalping the gbp/yen, it is probably the worst currency to do this with unless you are very experienced with a solid trading strategy.

Personally, I am very uneasy with scalping generally, because it is very difficult to exercise good money management (MM), because in scalping, your take profit is typically a fraction, and not a multiple of your stop loss.

From what I see MM seems to be lacking from your trading style. Which leads me to this point, concentrate more on your risk/reward ratio than the amount of trades won ratio. With good money management you can even be right just 1/3 of the time and still break even.

GBP/YEN broker spreads are usually between 6-9 pips. Placing an order every 5 pips is extremely counter-productive. Also, as a scalper, placing orders as a trade goes against you is certainly a recipe for failure as there is no margin of error, if you are caught in a retracement it means you are in the wrong trade. Intra-day traders that trade 1hr and 4r charts can better afford retracements and even place additional orders there.

Regarding stop losses,whether mental or fixed, these are necessary to establish your risk. Where you place your stop loss , and how much stop loss is important, or you could be constantly getting your stop loss hit.

Also, as a scalper, you will not be holding trades overnight so interest payments don't matter, you can therefore afford to take both LONG and SHORT trades, rather than just uni-directional LONG trades.

Finally, you seem to prefer trading without indicators, indicators are our friends , but if you prefer trading "naked" without indicators, there is an excellent thread on the DIBS method

http://forexfactory.com/showthread.p...highlight=dibs

but it does seem that you will have to do more research on trading methods. There are several good threads on Forexfactory but you are going to have to do a lot of reading.

This thread initially started off to just dicuss Auslanco's system, but it has become a general gbp/yen trading thread. These alternative views have made the original Auslanco system even better. But if you were attempting to learn the Auslanco system with all these other strategies now being mentioned you might end up confused.

The point is, part of the reason for your "head ache" and confusion may be due to your looking on too many different strategies. You probably need to focus on a particular strategy, when you have mastered that you can look on other strategies to improve your initial strategy. Good luck.

But what it has to do with this forum any way ...

Hey whats up MK so I was watching the video for divergence that you posted a couple of weeks ago. The guy was using 30 mins chart with 8,8,3 STOC+RSI inidicator what would you use on a high time frame he mentioned to chage the inputs for higher time frame. Any advice?

me also; always on the lookout for Pips (the female variety

For a position or a woman? The former will probably make you much better off. lol It won't take half your stuff away when it gets angry at you.

Hi Vinesh,

Yeah..it's really a good video and he claimed to have 80% accuracy which is very good and I think I can believe it..hehe.
I like to trade 4H as it would give more 'meat' compares to 20-30 pips. Well, if u see, my chart always posted with Slow Stoch 5,3,3 settings. I think any oscillator indicators would also do just fine.

ehhee .. you must have been in that situation before, weren't you?

Thanks

You are a bad boy and am a good boy ..

But question in a such long time frame would't it take a while for a divergence to occur? I mean how would enter the trade without going to the smaller time frame?

Thankfully not yet! haha At 20 years old, I'd be kickin myself in the ass if I had been lol One day I probably will though, as that's the way of the world anymore, right? haha

You are only 20 yrs old .. can't believe it
And you are already such a good trader .. cool .. bro.. it seems million if not billion of pips waiting for you ahead ..

I sure hope so and thanks, I think the same of you man! believe me on that, there are only a few peoples' comments that I pay attention to on this thread anymore and your one of them for sure. Believe me, I wish I would've started even younger than when I did. Experience is everything and we're all getting it slowly but surely. I decided when I was working a crap job a couple years ago that I didn't want to be broke anymore so that was it. lol

That's the beauty of higher time frame .. less risky and big pips .. You need to have patience bro .. u can't win all the pips the market can give. As long as you are always in profit .. you are on the right track, dont u agree?

Plus, the waiting usually doesn't take long after you have closed the previous position 'coz new opportunity usually evolves soon enough .. could be other pairs ..