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

  • #97,421
  • Jun 27, 2008 1:25am Jun 27, 2008 1:25am
Quoting Eulogy
Then what do you call G/C?
FEMBEAST
  • #97,422
  • Jun 27, 2008 1:34am Jun 27, 2008 1:34am
Quoting PandoraBox
No problem bro, One day GJ will be in you hand.
now does GJ look now for a short?
  • #97,423
  • Jun 27, 2008 1:47am Jun 27, 2008 1:47am
Quoting Eulogy
Then what do you call G/C?

you should ask pandora.... he is the one who call gj is a beast and i agree with him...
" Good things come to those who wait " ( bon jovi 'santa Fe' )
  • #97,424
  • Jun 27, 2008 1:48am Jun 27, 2008 1:48am
Quoting Clouds
now does GJ look now for a short?
I will wait for H4 close - If next H4 close below 211.99 we will see Bearish continuation pattern at H4. BUT Long Term GJ is UPTREND, If you short lock your profit or take around 50 ~ 100 pips.


Good Luck
  • #97,425
  • Jun 27, 2008 1:52am Jun 27, 2008 1:52am
Quoting Lost_angles
you should ask pandora.... he is the one who call gj is a beast and i agree with him...
I not familiar with GC, but sometimes I trade it. One thing I don't like GC, it connected with GOLD. Because Gold was CHF business.
  • #97,426
  • Jun 27, 2008 2:12am Jun 27, 2008 2:12am
Quoting kairos
Everywhere i read it is said not to use more than 2% in a transaction or a pair. Do you guys refer to the margin utilisation ?
so if you have 10.000 usd you should have a maximum of 2 lots of 10.000 ?

Thanks
I lost over $1300 in a week trading my 10%

read this

Limit your risk (this was attributed to a posting by the Elliott Wave group, however, I was not able to confirm)

If you risk 50% – you will wipe out as soon as you have 2 consecutive losing trades – 1 chance in 4

If you risk 25% – you will wipe out as soon as you have 4 consecutive losing trades – 1 chance in 16

If you risk 10% – you will wipe out as soon as you have 10 consecutive losing trades – 1 chance in 1024

If you risk 5% – you will wipe out as soon as you have 20 consecutive losing trades – 1 chance in 1,048,576 (about a million)

If you risk 2% – you will wipe out as soon as you have 50 consecutive losing trades – 1 chance in 1,125,899,906,842,620 or about a BILLION!

Somewhere between 2-5% is the maximum amount you can risk

The average bank trader or hedge fund only risks 1% to 1 ½ % of the account.

If you can’t be successful trading a micro account, don’t go up to a mini account. Don’t go up to a standard account if you can’t make a micro or mini account work.

1.Trading is a battle, fighting losses hunting for profit be battle minded.
2.Trading is hunting watch and looks out for your prey and aim well.
3.Discover your winning system that you have mastered very well.
4.Don’t over trade.
5.Have a fixed %age of your account that you trade per time.
6.Every trading day is an entirely different day. Be broad minded.
7.Never trade with a bad mood.
8.Use at least 3 confirmation (confluence of events) to enter a trade.
9.Increase your winning ratio as you progress in trading.
10.Have a daily, weekly target.
11.Know your prey (currency pair, strategies, time of trading and systems).
12.Don’t be greedy, trade your plan and plan your trade.
  • #97,427
  • Jun 27, 2008 2:15am Jun 27, 2008 2:15am
Quoting PandoraBox
I will wait for H4 close - If next H4 close below 211.99 we will see Bearish continuation pattern at H4. BUT Long Term GJ is UPTREND, If you short lock your profit or take around 50 ~ 100 pips.


Good Luck

Can it go up from here? Any chance?
  • #97,428
  • Edited 2:28am Jun 27, 2008 2:26am | Edited 2:28am
You are right, uncletrumpet!
It's much easier to loose than to win :-)
In particular you're trading GBP/JPY. Some call it the beast.
I prefer to called it killer currency...it's easily kills your account when y're overtrading it.

August 2008 becomes interesting again when seasonal or calendar patterns should occur:

GBP/JPY shows very strong directional tendencies in August with an average drop of over 600 pips :
-->http://www.actionforex.com/articles-...s-200605177339

But I wouldn't rely only on it!
  • #97,429
  • Jun 27, 2008 2:48am Jun 27, 2008 2:48am
Hi guys.I am short on geppy end EJ to..We went below 4hr 50 sma on geppy which was support for now and coming to S1 211.63 on my platform.What do you think how down much more it could go.I think it will be large one because daily,4hr,1 hr momentum were down hard and rest of indicators are classic 15 minute strategy.Estimation?
  • #97,430
  • Jun 27, 2008 2:50am Jun 27, 2008 2:50am
This is a rock on the way.Long live Ajnstain.
  • #97,431
  • Jun 27, 2008 2:57am Jun 27, 2008 2:57am
Let see if this 1hr close below 211,20 then it will go more.Probably!!!!But we will see.
  • #97,432
  • Jun 27, 2008 3:00am Jun 27, 2008 3:00am
nice drop glad i hold my shorts in GJ and EJ lets see what 215 people will say
  • #97,433
  • Jun 27, 2008 3:01am Jun 27, 2008 3:01am
next one 210,78 S2 and 100 sma is there but i thinh this going even 209,64
  • #97,434
  • Jun 27, 2008 3:01am Jun 27, 2008 3:01am
Quoting msniper
nice drop glad i hold my shorts in GJ and EJ lets see what 215 people will say
target?
  • #97,435
  • Jun 27, 2008 3:03am Jun 27, 2008 3:03am
EJ s2 167,13 on my platform.We will come to there i think
  • #97,436
  • Jun 27, 2008 3:03am Jun 27, 2008 3:03am
Quoting Clouds
now does GJ look now for a short?
I wish I had shorted>
  • #97,437
  • Jun 27, 2008 3:04am Jun 27, 2008 3:04am
Quoting "expert"
target?
168.8
  • #97,438
  • Jun 27, 2008 3:06am Jun 27, 2008 3:06am
Quoting Clouds
I wish I had shorted>
Any final target as opinion?I think it is not too late to enter maybe if this 1hr bar close below 210.78
  • #97,439
  • Jun 27, 2008 3:08am Jun 27, 2008 3:08am
Quoting Eulogy
168.8
S1 167,42 taken and going back.I am thinking of closing this one on EJ.But...
  • #97,440
  • Jun 27, 2008 3:09am Jun 27, 2008 3:09am
Quoting "expert"
target?
for my small target it is 209 but i dunno if we will see it today but probably next week but if u r talking about long term then i think its below 195 of course.

and for EJ with the rising wedge pattern the target is down to close the gap i think near 164

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