Auslanco - GBP/JPY and GBP/USD (newstrade)
- #97,563
- Jun 27, 2008 11:02am Jun 27, 2008 11:02am
Are shorting or longing let us know now!
I see...
daily: above gann
4h: below gann
1h: below gann
waiting for the 1h qqe to cross up over the 50 or touch and go back down.
however i won't take any more trades until monday regardless.
this morning's trade was a short by Auslanco's old 4h system. I took a bit on that because i couldn't resist it.
i might have taken another short if price had retraced to the 4h 5sma and shown a sign of going down, but it's taken too long and it's too late now... for me anyway.
I would not take any long until the 4h has crossed over and formed above the 10 period gann.. so i would only be looking for shorts at the moment.
hope that helps... so many different views and systems. No one really knows... but most of them work if you stick to them. That's the hard bit.
John
- #97,564
- Jun 27, 2008 11:03am Jun 27, 2008 11:03am
- Joined May 2007 | Status: I Love EMAS! | 1,968 Posts
- #97,565
- Jun 27, 2008 11:09am Jun 27, 2008 11:09am
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.
I will try to keep that in mind
- #97,568
- Jun 27, 2008 11:15am Jun 27, 2008 11:15am
- Joined May 2007 | Status: I Love EMAS! | 1,968 Posts
- #97,574
- Jun 27, 2008 11:29am Jun 27, 2008 11:29am
- Joined Oct 2007 | Status: Trader | 3,461 Posts
GBP-USD 1.9890. Uptrend is still intact in a triangle configuration. It should continue to rally to 1.9932 or 2.0014 if support around 1.9833 hold. After which a pullback to 1.9833 - 1.9802 zone is possible.
or not. price will tell...
- #97,576
- Jun 27, 2008 11:32am Jun 27, 2008 11:32am
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
So what do you think about geppy, cable, UJ, EJ, EU, AJ...... ???
Geppy: range (don't touch it yet)
Cable: Sell
UJ: Buy
EJ: range (don't touch it yet)
EU: Sell
AJ: Don't know ..
- #97,578
- Jun 27, 2008 11:47am Jun 27, 2008 11:47am
in the weekly candle chart GJ we must pay attention to these doji
direction is south
direction is south
direction is south
- #97,579
- Jun 27, 2008 11:52am Jun 27, 2008 11:52am
- Joined Oct 2007 | Status: Trader | 3,461 Posts
also in the weekly candle chart below we see a defective tohbo
i think tat market is childbirth new trend in the next week
wow ,VIX where have gone
we will see a big move in the next week for yen cross
direction is south
we have a perfect setup for dji, tnx, vix. gold up, gbdusd up.
yen crosses short all over the places.
please see http://www.forexfactory.com/showpost...ostcount=97523
have a nice weekend