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

  • #102,041
  • Jul 18, 2008 8:44am Jul 18, 2008 8:44am
Quoting samclider
don't against market .man

when i give up i will tell u. i still think every thing is alright for my side
  • #102,042
  • Jul 18, 2008 8:45am Jul 18, 2008 8:45am
i'm with scrat, i think we need a correction for a new hight to form. if we get a new high now i'm not sure if it will go beyond 216.xx before another major retracement. heck, this might be limited to the neckline TL belekas has mentioned. yesterday's FAST upmove took lots of gas, we need a reload. i highly believe the next dip will be below 211.

again, guys, the trend is now up. it HAS been up. since weekly CCI crossed the 0 line.
  • #102,043
  • Jul 18, 2008 8:46am Jul 18, 2008 8:46am
Quoting msniper
when i give up i will tell u. i still think every thing is alright for my side

Okay, Good Jobs
  • #102,044
  • Jul 18, 2008 8:56am Jul 18, 2008 8:56am
sold OILs...and Sold Gold ..go go
  • #102,045
  • Jul 18, 2008 9:05am Jul 18, 2008 9:05am
Quoting samclider
sold OILs...
made 400 pips on that the other day, it was a hit and run, loooool. u think GJ's scary?? try trading oil futures.

i know 2 guys still holding longs on those futures since 142, that's an equivalent to 1100 pips drawdown. YIKES!!! i would shoot myself if i were them. i think the contract ended or is about to end.
  • #102,046
  • Jul 18, 2008 9:10am Jul 18, 2008 9:10am
Quoting lilmoe
made 400 pips on that the other day, it was a hit and run, loooool. u think GJ's scary?? try trading oil futures.

i know 2 guys still holding longs on those futures since 142, that's an equivalent to 1100 pips drawdown. YIKES!!! i would shoot myself if i were them. i think the contract ended or is about to end.

I think No...Normally for GJ...
  • #102,047
  • Jul 18, 2008 9:17am Jul 18, 2008 9:17am
Quoting samclider
I think No...Normally for GJ...
well, GJ made 900+ pips in 3 days to some traders GJ IS scary. but if i'm trading oil futures i would NOT open a position larger than 1% of my equity. this sucker reacts rather "crazy" to news
  • #102,048
  • Jul 18, 2008 9:21am Jul 18, 2008 9:21am
Quoting lilmoe
well, GJ made 900+ pips in 3 days to some traders GJ IS scary. but if i'm trading oil futures i would NOT open a position larger than 1% of my equity. this sucker reacts rather "crazy" to news

Risk invoke ...Good Money management ..
  • #102,049
  • Jul 18, 2008 9:27am Jul 18, 2008 9:27am
Quoting samclider
Risk invoke ...Good Money management ..

this sure is boring, talk about "it's firday!!!" BS.

i closed my long for 23 pips. will reenter on further confirmation. this sucker is WEEK. come on GJ, where's your action????


btw, there is a 50/50 chance we might go back to range next week. there are instances after a fake breakout of a congestion zone where another ranger period occurs. if that happens, there will be another fake breakout to the downside, and that would be the BEST chance to buy GJ. i hoping for this to happen. i want to buy it cheap
  • #102,050
  • Jul 18, 2008 9:29am Jul 18, 2008 9:29am
Quoting karmostaji
IMO new high is in order for today, I'll be back later
Karmostaji i also my daily indicator told it will go up but most of day finish and didn't go over 213.60 as it suppose
now not sure close short or long
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Question: Logically My mind refuse that high " 214.00", what about history or current economy situation is it support that high??
  • #102,051
  • Jul 18, 2008 9:30am Jul 18, 2008 9:30am
Quoting lilmoe
this sure is boring, talk about "it's firday!!!" BS.

i closed my long for 23 pips. will reenter on further confirmation. this sucker is WEEK. come on GJ, where's your action????


btw, there is a 50/50 chance we might go back to range next week. there are instances after a fake breakout of a congestion zone where another ranger period occurs. if that happens, there will be another fake breakout to the downside, and that would be the BEST chance to buy GJ. i hoping for this to happen. i want to buy it cheap

sorry: ranging

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  • #102,052
  • Jul 18, 2008 9:44am Jul 18, 2008 9:44am
Agreed egkid, but I am not going short yet, I'm waiting for my signal. But bulls should really watch out here because I can see double "tops" forming at M30, M60 & 4H TFs.
The daily is having a hard time breaking above a trendline (former support now resistance) dating back March 17, 2008.
The weekly is also having a hard time advancing past 50 SMA at around 213.90ish ahead of another barrier around 214.00 being the 38.2% retracement of the weekly drop between 12/1/2007 and 4/1/2008.
Can't say where wer're headed to from here but just waiting to trade from my charts.
Happy weekend everyone
N.B. I use VT Trader, anyone know how I cancopy and post my charts on this forum.
  • #102,053
  • Jul 18, 2008 10:01am Jul 18, 2008 10:01am
Google come out with bad news, merrill lynch, microsoft, ebay all bad and market still rallies. I am getting sick and tired of this crap.
  • #102,054
  • Jul 18, 2008 10:24am Jul 18, 2008 10:24am
Quoting vinesh2
Google come out with bad news, merrill lynch, microsoft, ebay all bad and market still rallies. I am getting sick and tired of this crap.
I lost lot money and also got tired of of the GBPJPY ignoring very good Japan fundamental data but rallying on bad UK data releases and vice versa. Now I just trade from my charts and it's very profitable.
Does anyone here trade e-minis, I'm thinking of diversifying to e-minis.
  • #102,055
  • Jul 18, 2008 10:27am Jul 18, 2008 10:27am
Quoting vinesh2
Google come out with bad news, merrill lynch, microsoft, ebay all bad and market still rallies. I am getting sick and tired of this crap.
don't worry bro..its all part of trading and the learning curve....when i first started i used to think the market was out to get me....man how stupid i sounded then....
  • #102,056
  • Jul 18, 2008 10:29am Jul 18, 2008 10:29am
holly crap, u guys need to take a look at oil's weekly chart

considering that, and considering the way DJ has been reacting to that, if we close above 213.50 today, BULLS ARE in control

first target 219 second target 226!!!!!!!!!!!!!!!!!
  • #102,057
  • Jul 18, 2008 10:35am Jul 18, 2008 10:35am
Quoting karmostaji
IMO new high is in order for today, I'll be back later
My account increased by 7% three days ago, 12% yesterday and today nearly by another 10% All what the beast has taken I a having back.
I now have two options to close this long position at 213.50 at 150 pip gain or to keep running. I am thinking of going long again.
Karmostaji where are you? what should I do?
  • #102,058
  • Jul 18, 2008 11:10am Jul 18, 2008 11:10am
be careful. such a move without a fundamental support means that big guys are positioning for another long run.
i'm preparing to go long on e-u. g-j might go up but it should be limited first by the upper part of weekly channel (higher 216 as of now), and then, if that one is broken, by 219.32. IF 219.32 is taken, then we won't see another huge fall, just the boring "buy the dips". this is rather medium to long term.
on the short term, i am waiting to see a high above yesterday's high and then will closely watch for a retracement which should go as low as 211 at first sight. and from that low... buy for the next 2 weeks. august 1st (give or take 2-3 days at most) should bring us a surprise, at least that's what mr. gann would say...


Quoting lilmoe
holly crap, u guys need to take a look at oil's weekly chart

considering that, and considering the way DJ has been reacting to that, if we close above 213.50 today, BULLS ARE in control

first target 219 second target 226!!!!!!!!!!!!!!!!!
Nihil Sine Deo.
  • #102,059
  • Jul 18, 2008 11:28am Jul 18, 2008 11:28am
Quoting lilmoe
the best entry long was at 211.60 daily 5sma, too bad i missed it, i hate it when i'm asleep. it would've been low risk with a 30-40 pip S/L.
What other moving average do you look for to confirm this trend and is it a pin bar you're looking for?
  • #102,060
  • Jul 18, 2008 11:43am Jul 18, 2008 11:43am
Quoting uncletrumpet
My account increased by 7% three days ago, 12% yesterday and today nearly by another 10% All what the beast has taken I a having back.
I now have two options to close this long position at 213.50 at 150 pip gain or to keep running. I am thinking of going long again.
Karmostaji where are you? what should I do?
sound to me like you are overleveraging your account with those daily returns

The best traders are the ones that manage money the best . I lost 250 pips on gbpchf , only 3% of account , made that all back on yesterdays close on gbpchf , gbpjpy

I NEVER take more than 3% risk on a swing trade for my stop and typically it is only 1.5 %.

With 12% return a day even with a 200 pip move sounds like you are risking up to 10% of your account per trade. If you made 12% on a 100 pip ,move you are going to blow your account up in no time. As gbpjpy in these volatile times can move aginast you 100 pips in no time.

risk management is KEY in this game . Those traders that understand risk management are the bets traders out there.
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