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

  • #91,961
  • Jun 10, 2008 3:20pm Jun 10, 2008 3:20pm
Quoting ak4x
ok, I'll bite. here is a statement from a demo account I played with last year for fun. Got to wondering one day what would happen if...

So I open a 100k acct and traded like a bandit. Scared myself I did!! Get up in the morning, look in the mirror and do the big at myself a few times. STOP LOSSES? you gotta be kidding.

Ok, short version, 100k to 4mil in a a couple months of dinkin around.. maybe 450 trades. 4 mil to nothin a whole lot faster than that.

RonPaul, are you sure you're on the right thread?

HEY WHERE DID YOU GET MY ACCOUNT STATEMENT !!!!

Blogging daily now at www.volume.zone
  • #91,962
  • Jun 10, 2008 3:23pm Jun 10, 2008 3:23pm
Quoting ovaforty
you picking tops now, rustyy? I am surprised.
No sir, low risk, possible good reward.
  • #91,963
  • Jun 10, 2008 3:27pm Jun 10, 2008 3:27pm
Quoting malcolmb14
Rusty how comes you are shorting ??? .... the trend is VERY strong and sure it has got to pull back at some point , but that point would be wait for a break back down 107 and a break of the bottom of the trend channel

Right now this bad boy is heading towards 107.64 and if it breaks that we could well see 108.64

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Fundamentally only. Asia looking to dump dollars because of rampant inflation.

You are correct, technically a bad trade. Strong uptrend.

I just believe that all this dollar strength is only from verbal intervention from talking fedheads.

But I could be very wrong.....

Edit: Only other reason but I am weak here is this divergence on Daily chart. But I think it will be a while to play out.
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  • #91,964
  • Jun 10, 2008 3:31pm Jun 10, 2008 3:31pm
Quoting Rustyyy
Fundamentally only. Asia looking to dump dollars because of rampant inflation.

You are correct, technically a bad trade. Strong uptrend.

I just believe that all this dollar strength is only from verbal intervention from talking fedheads.

But I could be very wrong.....
Asians are buying USD....
  • #91,965
  • Jun 10, 2008 3:32pm Jun 10, 2008 3:32pm
Looks like a rally, to be followed by a dip, but I could be wrong.
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  • #91,966
  • Jun 10, 2008 3:33pm Jun 10, 2008 3:33pm
4 hour chart moms show a retrace to 5 sma high. Might be a good contra-trend scalp.
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  • #91,967
  • Jun 10, 2008 3:35pm Jun 10, 2008 3:35pm
Quoting ovaforty
Asians are buying USD....
But they hold some of the largest US dollar reserves in the world.

http://www.iht.com/articles/ap/2008/...an-Markets.php
  • #91,968
  • Jun 10, 2008 3:36pm Jun 10, 2008 3:36pm
Quoting Rustyyy
But they hold some of the largest US dollar reserves in the world.
Look at the crashes in the asian equities..... They are hedging their losses.
  • #91,969
  • Jun 10, 2008 3:36pm Jun 10, 2008 3:36pm
This is what I see on the 4H chart and usually is very reliable ..
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  • #91,970
  • Jun 10, 2008 3:38pm Jun 10, 2008 3:38pm
Quoting ovaforty
Look at the crashes in the asian equities..... They are hedging their losses.
Maybe. Or a beginning of a dump.

Happened before. Carry trades unwound.
  • #91,971
  • Jun 10, 2008 3:40pm Jun 10, 2008 3:40pm
Quoting Rustyyy
Maybe. Or a beginning of a dump.

Happened before. Carry trades unwound.
You could be right, if they start to run stop losses. But the charts dont signal it yet.
  • #91,972
  • Jun 10, 2008 3:40pm Jun 10, 2008 3:40pm
hm if i was long, looking to reach the maximum potential for GBP JPY (213.x) - it wud never go higher than 213 - id be hoping for a GBPUSD of around 1.99, because UJ is never going to break into 108

i dont see 1.99+ on gu for a while
  • #91,973
  • Jun 10, 2008 3:42pm Jun 10, 2008 3:42pm
Quoting RonPaul2008
hm if i was long, looking to reach the maximum potential for GBP JPY (213.x) - it wud never go higher than 213 - id be hoping for a GBPUSD of around 1.99, because UJ is never going to break into 108

i dont see 1.99+ on gu for a while
  • #91,974
  • Jun 10, 2008 3:42pm Jun 10, 2008 3:42pm
Quoting mktjong
This is what I see on the 4H chart and usually is very reliable ..
any bearish div on GJ? 4h/daily?
Trade what you see, not what you think.
  • #91,975
  • Jun 10, 2008 3:50pm Jun 10, 2008 3:50pm
Quoting karmostaji
any bearish div on GJ? 4h/daily?
Yes, glad you asked .. (it's a brutal bulls trap .. imo)
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  • #91,976
  • Jun 10, 2008 3:56pm Jun 10, 2008 3:56pm
MK how come you measure divergence from the top of the stoch and not the bottom?
  • #91,977
  • Jun 10, 2008 4:01pm Jun 10, 2008 4:01pm
Quoting karmostaji
any bearish div on GJ? 4h/daily?
the 14 c mom was showing divergence on this 4 hour chart, but has since made a higher high.
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  • #91,978
  • Jun 10, 2008 4:01pm Jun 10, 2008 4:01pm
Quoting vinesh2
MK how come you measure divergence from the top of the stoch and not the bottom?
That's the way it is:
- Bullish divergence: From bottom to top
- Bearish divergence: From top to bottom

You can do the search on Google to find the Divergence article.
Thanks.
  • #91,979
  • Jun 10, 2008 4:02pm Jun 10, 2008 4:02pm
New daily momentum is bearish

Good night
Trade what you see, not what you think.
  • #91,980
  • Jun 10, 2008 4:03pm Jun 10, 2008 4:03pm
Quoting karmostaji
any bearish div on GJ? 4h/daily?
4h geppy
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