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

  • #111,881
  • Sep 9, 2008 9:08am Sep 9, 2008 9:08am
anyone making any pips huge swings today... 1 min candle even!!!!
Price does what price wants , I just need to be prepared.
  • #111,882
  • Sep 9, 2008 9:10am Sep 9, 2008 9:10am
Quoting forexer
i've just added 100K to my already established short position at 190.14.

this beast is not going to play anymore tricks with me again.


i just closed my short positions after taking profits
I always knew that someday I would make it big
  • #111,883
  • Sep 9, 2008 9:16am Sep 9, 2008 9:16am
Quoting $teve
Confirmed candle is the candle right after the cross occur. Basically you wait for one more candle after the cross occur to see if the que cross stays because sometimes it reverses. Confirmation candle will save you a lot of head fakes. Read Aussie's 15M thread and it will explain more. Actually, read all the threads started by Auslanco. I'm sure those threads have produced a lot of great traders.
are you still going long?
I always knew that someday I would make it big
  • #111,884
  • Sep 9, 2008 9:21am Sep 9, 2008 9:21am
Quoting Ulterior
When everybody gets used to bad news, good news are making wonders, my friend
yea but i dont see any good news anytime soon
I recommend you read something else as this sentence is now concluded.
  • #111,885
  • Sep 9, 2008 9:24am Sep 9, 2008 9:24am
Quoting PJkiller
anyone making any pips huge swings today... 1 min candle even!!!!

Almost! I'm losing pips off of swings!
  • #111,886
  • Sep 9, 2008 9:42am Sep 9, 2008 9:42am
Quoting PJkiller
anyone making any pips huge swings today... 1 min candle even!!!!
I've been making some pips off the 1 min swings .. how do you trade them?
  • #111,887
  • Sep 9, 2008 10:08am Sep 9, 2008 10:08am
1 mn charts .... lol ...that is dangerous game to play

if you really want to play this scalping game use 100 tick charts. They work miles better than 1 min chart
Blogging daily now at www.volume.zone
  • #111,888
  • Sep 9, 2008 10:17am Sep 9, 2008 10:17am
this should be the last breeze down to some 189.50's;
(if breaks through the higher fibs)
"Everybody needs money. That's why they call it money" - Danny De Vito
  • #111,889
  • Sep 9, 2008 11:25am Sep 9, 2008 11:25am
Waiting to see if we get a 4h QQE cross down, that will indicate a big bearish movement..

Price is still trading below 4h gann hilo, so there was no confirmed bullish movement.
Trade what you see, not what you think.
  • #111,890
  • Sep 9, 2008 11:39am Sep 9, 2008 11:39am
Quoting karmostaji
Waiting to see if we get a 4h QQE cross down, that will indicate a big bearish movement..

Price is still trading below 4h gann hilo, so there was no confirmed bullish movement.
You sure? How about on the .5 millisecond chart?
Patience + Humility + Study = Success
  • #111,891
  • Sep 9, 2008 11:40am Sep 9, 2008 11:40am
Quoting DutchTrader
You sure? How about on the .5 millisecond chart?


ask these guys who are trading 1 min charts lol
Trade what you see, not what you think.
  • #111,892
  • Sep 9, 2008 11:42am Sep 9, 2008 11:42am
Quoting slide
this should be the last breeze down to some 189.50's;
(if breaks through the higher fibs)
last time i checked, that guy was holding longs with 2000 pip drawdowns..
Patience + Discipline - Greed = Success
  • #111,893
  • Sep 9, 2008 11:43am Sep 9, 2008 11:43am
Quoting karmostaji


ask these guys who are trading 1 min charts lol
I see some Beallish diversion on the .30 millli second chart. Think I'll go shong here.
Patience + Humility + Study = Success
  • #111,894
  • Sep 9, 2008 11:44am Sep 9, 2008 11:44am
Quoting malcolmb14
1 mn charts .... lol ...that is dangerous game to play

if you really want to play this scalping game use 100 tick charts. They work miles better than 1 min chart
MT4 doesn't have 100 tick charts, right?
  • #111,895
  • Sep 9, 2008 11:51am Sep 9, 2008 11:51am
Quoting TraderStar
MT4 doesn't have 100 tick charts, right?

and if you are a newbie trader you should not be trading on 1min , 5 min , 10 min or any other small time frame unless it is in demo . That is just my thought. It is better to wait for nice trades on 30 min and higher charts and go for those 200 plus

This market is very dangerous .. I mean look at last 5min candle low to high of 50pips.....in less than 1 min

90% of day traders lose their money .... I only traded my live account once today for 70 pips.. 1st 2 trades of the day

I made my money

Then I traded demo aocunt to hone the trading skills for rest of day... made 200 pips plus , most if it on last move down 190 to 188.65.

sound dumb right ..... but there is only a limited amount of concentration you can have if you are really trading off a 100 tick charts and once you have green pips in the bank for the day best to keep them there

I typically use 5 min and 10 min confirmed by 60 min trend and have good risk management in place. If I do not LOVE the set up I will not take it
Blogging daily now at www.volume.zone
  • #111,896
  • Sep 9, 2008 11:52am Sep 9, 2008 11:52am
Quoting karmostaji


ask these guys who are trading 1 min charts lol
LOL, I don't 'trade' on 1 minute charts, but using micro lots I sometimes practice entry/exit techniques there .... or if I get bored ...
  • #111,897
  • Sep 9, 2008 11:52am Sep 9, 2008 11:52am
the "scalping game" has never worked for me.....today being proof of that once again.....i always get turned upside down.....make a bunch of pips - lose a bunch of pips and so on and so on.....end result always being i profit enough to buy a half a ham sandwhich at the end of the day.
--post hoc ergo propter hoc--
  • #111,898
  • Sep 9, 2008 11:54am Sep 9, 2008 11:54am
Quoting malcolmb14
if you really want to play this scalping game use 100 tick charts. They work miles better than 1 min chart
Where do you find the 100 tick charts?
  • #111,899
  • Sep 9, 2008 11:57am Sep 9, 2008 11:57am
Quoting slide
if you wait for the weekly candle to get a confirmation for this pair, better forget about it, that's almost...philosophical.

this is very volatile market these days moved by speculation, look for breakouts and trade what brings you pips don't wait for the weekly chart.
If I might just weigh in on this discussion, not knocking anyone, but more for informational purposes.

I believe Hussin trades are mainly based on candlestick analysis more than trend following per se. , and candlestick analysis is generally far more accurate on higher time frames, such as daily or weekly.

In the same way one may see, say, a bullish engulfing candle on a 30 min chart, you can do the same for a weekly chart and trade the weekly chart given the preceding week's candlestick.

Now Hussin may have traded the previous week's candlestick and not this week's own. He is content to wait until this week's candlestick is finished and confirms (or not) a particular bullish/bearish pattern. Given his vast knowledge of candlestick patterns , he can predict usually very accurately that the following week the candlestick will be bullish or bearish. He will probably hold his trade from the start of the week to the end.

If no known pattern is revealed then he may just sit out the week or look on a different currency pair. It may seem like a grand waste of time to sit out a day or week of trading, but I've found that much of trading is about waiting for the right setup.
  • #111,900
  • Sep 9, 2008 11:57am Sep 9, 2008 11:57am
Quoting Monk
the "scalping game" has never worked for me.....today being proof of that once again.....i always get turned upside down.....make a bunch of pips - lose a bunch of pips and so on and so on.....end result always being i profit enough to buy a half a ham sandwhich at the end of the day.
Hey half a sandwich is better than none

But I agree, I would not want to try to make a living trading anything below 4h .. but just for fun & to keep the trigger finger exercised, the 1 min (at least the way I was taught to do it) can usually produce enough for a cup of coffee (not at Starbucks! )
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