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

  • #109,581
  • Sep 1, 2008 6:28pm Sep 1, 2008 6:28pm
hedging works for me....

Quoting cohiba pips
this is one massive sell off going long ........... you got balls man
[
  • #109,582
  • Sep 1, 2008 6:29pm Sep 1, 2008 6:29pm
192.50 is a essential gate way to break before we goes down again. Still waiting and see how it goes.
  • #109,583
  • Sep 1, 2008 6:30pm Sep 1, 2008 6:30pm
Quoting malcolmb14
this is an INSANE market ..... and one that can kill accounts .. unless you are short off 215 ....

200 pip drops in minutes , followed by 100 pip retracements in minutes , followed 1`00 pip drop in minutes ...

this action is even scaring me. .....
Have a look at the 1 minute chart, the action is clear, just bigger ranges than normal.
{Some Profound Statement goes here}
  • #109,584
  • Sep 1, 2008 6:30pm Sep 1, 2008 6:30pm
Quoting cohiba pips
this is one massive sell off going long ........... you got balls man
No not balls but look we are down 2350 pips straight and hit the 52 week low that is a great place to long a bounce and the money management is in place since I have profited nicely since july on shorts and several other bounce trades off support just trading man nothing special...
Price does what price wants , I just need to be prepared.
  • #109,585
  • Sep 1, 2008 6:35pm Sep 1, 2008 6:35pm
I waited for months for this target for a nice retracement...The US GDP is positive and oil is down as well as gold...

I thinking we are due for retracement ...The 192.60 range is a strong support, if the GJ decides to pullback more I will hedge for extra pips..



Quoting PJkiller
No not bals but look we are down 2350 pips straight and hit the 52 week low that is a great place to long a bounce and the money management is in place since I have profited nicely since july on shorts and several other bounce trades off support just trading man nothing special...
[
  • #109,586
  • Sep 1, 2008 6:38pm Sep 1, 2008 6:38pm
man, FF hasn't been working on my computer for some time now, jeez...

closed MOST of my positions at 193... this was faster than i expected...

waiting for price to either close the gap or go to a 23.6 retrace from here again to add more shorts again (will reevaluate when we get a retracement)


good luck all!

remember, sell rallies!
  • #109,587
  • Sep 1, 2008 6:39pm Sep 1, 2008 6:39pm
where is everyone lilmoe, malcolmb, scrat, orions way and others what you guys thinking....
Price does what price wants , I just need to be prepared.
  • #109,588
  • Sep 1, 2008 6:39pm Sep 1, 2008 6:39pm
Quoting malcolmb14
this is an INSANE market ..... and one that can kill accounts .. unless you are short off 215 ....

200 pip drops in minutes , followed by 100 pip retracements in minutes , followed 1`00 pip drop in minutes ...

this action is even scaring me. .....
not nearly as insane when we reached 192 the first time

welcome back beast!!!!
  • #109,589
  • Sep 1, 2008 6:40pm Sep 1, 2008 6:40pm
Quoting PJkiller
No not balls but look we are down 2350 pips straight and hit the 52 week low that is a great place to long a bounce and the money management is in place since I have profited nicely since july on shorts and several other bounce trades off support just trading man nothing special...

but illl wait to go long - i just dont think its now - soze bro
  • #109,590
  • Sep 1, 2008 6:42pm Sep 1, 2008 6:42pm
Thank God, I'm on the short side. First the gap this morning and now another 300 pips, "what happened?"
  • #109,591
  • Sep 1, 2008 6:47pm Sep 1, 2008 6:47pm
FUN damental for asia..


Sept. 2 (Bloomberg) -- Japan's stocks may fall following the resignation of the nation's prime minister, and after crude fell to the lowest in more than four months, diminishing the earnings prospects for oil explorers.

[
  • #109,592
  • Sep 1, 2008 6:48pm Sep 1, 2008 6:48pm
Quoting cohiba pips
this is one massive sell off going long ........... you got balls man

pjkiller is master scalper and understands that on large down runs there will be nice retracements.
Blogging daily now at www.volume.zone
  • #109,593
  • Sep 1, 2008 6:53pm Sep 1, 2008 6:53pm
Quoting malcolmb14
pjkiller is master scalper and understands that on large down runs there will be nice retracements.
Not only that malcolmb but so many positive pips in the house since july I can scalp bounces for day trading profits but untill one hour ago I have been married to shorts since last week of july. Nice trading this year july and august... Thanks for the props pal.. Copying you from yesterday on gap and drop scalps. Nice work!!!
Price does what price wants , I just need to be prepared.
  • #109,594
  • Sep 1, 2008 6:57pm Sep 1, 2008 6:57pm
If one is short and up 1000 pips that is the time to hedge the bounce for 300 pips and then back at the low your 1000 pip drop just became 1300. Most people hedge lossers only as a means to not have to accept they were wrong and the final result a lower balance in the account. Hedging has lots of uses the right way, heck the whole world hedges their businesses all the time!!!
Price does what price wants , I just need to be prepared.
  • #109,595
  • Sep 1, 2008 6:58pm Sep 1, 2008 6:58pm
Quoting malcolmb14
pjkiller is master scalper and understands that on large down runs there will be nice retracements.

well as ever its been a good day and a long one night friends and good luck
  • #109,596
  • Sep 1, 2008 6:58pm Sep 1, 2008 6:58pm
Quoting PJkiller
where is everyone lilmoe, malcolmb, scrat, orions way and others what you guys thinking....

I am thinking something that begins with....

WHAT THE....

lol

I am a scalper ..... I miss the big movers but aim to scoop 30 - 100 pips a day and compound the account.

Today I missed the big move down .....and let move up slide by as I was picking tongue up off the floor. ....

Got 75 pips reversal to downside .... into 193 whole number and that may be it for me in this session. It does look like a long above 193.5 for another 50 pips to upside. with stop 193.45
Blogging daily now at www.volume.zone
  • #109,597
  • Sep 1, 2008 7:02pm Sep 1, 2008 7:02pm
Quoting PJkiller
If one is short and up 1000 pips that is the time to hedge the bounce for 300 pips and then back at the low your 1000 pip drop just became 1300. Most people hedge lossers only as a means to not have to accept they were wrong and the final result a lower balance in the account. Hedging has lots of uses the right way, heck the whole world hedges their businesses all the time!!!

Yea hedging the winners is a great way to not lose market share or position
"Millionaires don't use astrology, billionaires do"
  • #109,598
  • Sep 1, 2008 7:02pm Sep 1, 2008 7:02pm
Quoting PJkiller
Not only that malcolmb but so many positive pips in the house since july I can scalp bounces for day trading profits but untill one hour ago I have been married to shorts since last week of july. Nice trading this year july and august... Thanks for the props pal.. Copying you from yesterday on gap and drop scalps. Nice work!!!

got to love those dead cat bounces ..... they are by far the easiest day trades out there.....
Blogging daily now at www.volume.zone
  • #109,599
  • Sep 1, 2008 7:07pm Sep 1, 2008 7:07pm
Quoting OrionsWay
Yea hedging the winners is a great way to not lose market share or position
There you are, what is your take on all this madness!!!
Price does what price wants , I just need to be prepared.
  • #109,600
  • Sep 1, 2008 7:09pm Sep 1, 2008 7:09pm
Quoting PJkiller
There you are, what is your take on all this madness!!!

GU has gone BID me thinks after this wash out

So oversold its under my desk LOL
"Millionaires don't use astrology, billionaires do"
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