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

  • #106,881
  • Aug 13, 2008 7:12am Aug 13, 2008 7:12am
Quoting Scrat
down! just move your SL, don't worry about target.
Dear,
Please what is your target??
  • #106,882
  • Aug 13, 2008 7:18am Aug 13, 2008 7:18am
1.86 on g-u.
as for g-j, i don't know... i'd like to see 178, but it's too far. depends on what tf you are trading?

Quoting khaled22
Dear,
Please what is your target??
Nihil Sine Deo.
  • #106,883
  • Aug 13, 2008 7:20am Aug 13, 2008 7:20am
Check your records, that is why we call him the beast
213.30 here we come. check 29th of april and 1st of April this year.

Quoting xoiper
203.30 GJ NEVER MOVED MORE THAN 400 PIPS PER DAY BUT WHO KNOWS IT IS ALREADY ACTING IN DIFFERENT WAY
  • #106,884
  • Aug 13, 2008 7:23am Aug 13, 2008 7:23am
Quoting xoiper
178 OR 144 WHY NOT AS LONG I HAVE ENOUGH EQUITY
OK I EXPLAIN
GJ LL NOT GO STRAIGHT TO 178 IT ALWAYS GO BACK
SO SAY IT GOES TO 195 AND THEN GOES BACK TO 205
WHILE IT WAS 195 I CLOSE MY SHORT POSITIONS UP TO 200 OR 205
AND WHILE IT IS AT 205 I CLOSE MY LONG POSITIONS FROM 195
AND IF I THINK IT LL NOT GO BACK TO 210 I CAN CLOSE THIS HEDGED POSITIONS FORM 205 TO 210 LOSING NOTHING OR EVEN KEEP THEM BECAUSE SOMEDAY IT LL COME BACK TO 210
We undertand Hedging xoiper, but like karmo said its ok if you know what you are doing. so basicly you have to be good enouth to pick tops and bottom. that is where its dangerous. but good luck if it works for you
  • #106,885
  • Aug 13, 2008 7:27am Aug 13, 2008 7:27am
Quoting Macedonia
although i don't like hedging because i get nervous, but what he is doing is selling same amount as he is bying. so he does not loose evan if the pair goes to 100 he would only loose the spread. but eventualy it will turn and he can start colecting. not only bull profits but also interest that will eventualy cover the spreads. its not my cup of tea.
As karmo said hedging is useful when it is used properly. Normally most of those who hedge their positions can't accept to close a losing position and open an opposite one because they can't accept that trend has changed. They fear they lose more than they earn if they close them. This causes to fall into the hedging trap.

Psychologically it is very tempting to close the winning side of a hedged position when it is well into profit and traders do this unfortunately in wrong place and wrong time. Then when they see the losing position is going to get dipper into loss, they hedge it again and so they are just losing their capital because they are actually widening the hedged position's distance and locking their margin more and more ... nothing more.

If the trader who uses hedging follows a system or goes with the main trend and doesn't close and open them emotionally, then it is something and can be profitable but the point is if someone follows a system and goes with trend and is not afraid of closing a small losing position, then actually he or she won't need to hedge their positions at all

This is psychology and normally the newbies fall into hedging trap. I've already tried that. It is far more better to cut losing positions fast and let the wining one run.

Cheers
Discipline + Patience - Fear - Greed = Success
  • #106,886
  • Aug 13, 2008 7:27am Aug 13, 2008 7:27am
Last night we had good move up at tokyo lunch maybe those releasing shorts for 3xxx interest. Anyone have anythoughts about same story at end of london session, just a thought
Price does what price wants , I just need to be prepared.
  • #106,887
  • Aug 13, 2008 7:33am Aug 13, 2008 7:33am
it depends.
daily move has not finished yet, and it looks like a motive wave. we're in the middle of it, meaning wave 3. so if this is what i think it is, then our retrace should not exceed 210.56 (4) then down again big time for a 5th one.
if we go above this value, then it's something else... we're probably going up.
and here is the h4 chart to show you possible targets to the upside. i would go with 5sma monthly (or 0.5 retracement), but it may go only to 207.80 area or as high as 210.

Quoting uncletrumpet
Check your records, that is why we call him the beast
213.30 here we come. check 29th of april and 1st of April this year.
Attached Image (click to enlarge)
Click to Enlarge Name: gjh4.gif Size: 26 KB
Nihil Sine Deo.
  • #106,888
  • Aug 13, 2008 7:46am Aug 13, 2008 7:46am
Quoting arezab

This is psychology and normally the newbies fall into hedging trap. I've already tried that. It is far more better to cut losing positions fast and let the wining one run.

Cheers
Are you realy santa claus? seriously, well said. psychologicaly most fail. its the bigest hurdle.
  • #106,889
  • Aug 13, 2008 7:53am Aug 13, 2008 7:53am
my 2cents on hedging -

i primarily use it to cover my positions. I'm a position trader and can be in a trade for weeks or months so the ability to cover my positions is crucial...baby

it's not about picking tops or bottoms...this is were most people fail with this. I will also not advise using it if you are an intra day trader..wots the point?..
  • #106,890
  • Aug 13, 2008 7:57am Aug 13, 2008 7:57am
Very well said! Can I copy this to my forex blog?

Quoting arezab
(Hedging) is psychology and normally the newbies fall into hedging trap. I've already tried that. It is far more better to cut losing positions fast and let the wining one run.
  • #106,891
  • Aug 13, 2008 8:03am Aug 13, 2008 8:03am
Quoting dogberry
Very well said! Can I copy this to my forex blog?
Sure thing my friend
Discipline + Patience - Fear - Greed = Success
  • #106,892
  • Aug 13, 2008 8:12am Aug 13, 2008 8:12am
I've made my biggest profit ever today. Actually I collected the profit today. This AU sell off paid me well. +1000 green pips in one short position which makes +2000 pips in value (because my broker offers this pair with $20.00 tick value).

Even with GJ I've made +800 pips profit in one position as my biggest wining position but this AU short was awesome for me.

TO KARMO >> I'm going to buy one of four tyres of my Ferrari with the profit I collected today. I'm assembling it. Get ready for the race
Discipline + Patience - Fear - Greed = Success
  • #106,893
  • Aug 13, 2008 8:23am Aug 13, 2008 8:23am
Quoting arezab

Even with GJ I've made +800 pips profit in one position as my biggest wining position but this AU short was awesome for me.

more to come..baby

you'll be getting the 2nd tyre very soon
  • #106,894
  • Aug 13, 2008 8:24am Aug 13, 2008 8:24am
i think the beast is heading to 61.8 fibo. 201.50 area.
Attached Image (click to enlarge)
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Nihil Sine Deo.
  • #106,895
  • Aug 13, 2008 8:29am Aug 13, 2008 8:29am
Quoting Scrat
i think the beast is heading to 61.8 fibo. 210.50 area.
oh baby...I'll be very very very very surprised if it gets there maybe next week but not this week...i think 208.50 max
  • #106,896
  • Aug 13, 2008 8:37am Aug 13, 2008 8:37am
We're all going on a summer holiday,
Money & Pain Respect the market, protect your capital, be patient
  • #106,897
  • Aug 13, 2008 8:42am Aug 13, 2008 8:42am
Quoting metlife777
GJ has shown an increasingly intense correlation to gold prices since 2000
Do you just enjoy spouting off random comments without any evidence to back up your claims?

56% correlation has just about the same statistical significance for a predictive indicator as a monkey throwing darts at a stock list.
Attached Image(s) (click to enlarge)
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  • #106,898
  • Aug 13, 2008 8:43am Aug 13, 2008 8:43am
Who are plan for Long - What I can see from the price action now, when GJ retrace at H1 (Just check at your H1 GJ chart at GMT 9:00), huge trader ready for short this pair. When it try to retrace retail, big boys, fund managers will short this pair.

MACD GJ weekly also start to fall

-IMO
  • #106,899
  • Aug 13, 2008 8:48am Aug 13, 2008 8:48am
time is for say good-by 204 and hi 202 and 200.30
  • #106,900
  • Aug 13, 2008 8:48am Aug 13, 2008 8:48am
203.8 is the 23.8 fib level for the Nov 07 to Mar 08 plunge.
Weekly close below this level and we'll see 196 very quickly (green line on weekly)
Attached Image(s) (click to enlarge)
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