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

  • #112,801
  • Sep 12, 2008 10:53am Sep 12, 2008 10:53am
Quoting mktjong
Shorted as well from the top and closed for 50+ pips .. closed too early.
I closed at 192.02 + 94
  • #112,802
  • Sep 12, 2008 10:53am Sep 12, 2008 10:53am
Quoting forexer
hope you all doing great in the latest shoot up

the beast is still keeping the major downtrend ,and what we 're seeing now now is minor uptrend correction ,but the beast will find bears waiting for her at 195.00 level .

the beast will head back down again and the major targeted level is 180.00 in the long run
mmm ... 700 pips minor ????

lol

we may close 197 gap this weekend
Blogging daily now at www.volume.zone
  • #112,803
  • Sep 12, 2008 10:54am Sep 12, 2008 10:54am
Quoting Eulogy
TraderStar...... you really should read your signature now and again. Here's a refresher:

I don't get it .. what did I say?
  • #112,804
  • Sep 12, 2008 10:56am Sep 12, 2008 10:56am
Quoting malcolmb14
no offense intended ... but if charts rule how comes you still so bearish last night . I was calling this last night along time before it happened. Look at Karmos gbpjpy thraed .. classic bullish divergence on 4 hour

seems like you follow Karmo .... he is a bear overall and has been for a while.... but rallies in this market are fast and large
I read the chart differently I guess .. I made good pips shorting the rallies last night while you were longing the dips. When the last rally did not yield so much, I went flat, then went long, then went short again.

Overall the trend is down so I prefer to short rallies even if I collect less pips in the interim.
  • #112,805
  • Sep 12, 2008 10:57am Sep 12, 2008 10:57am
Moe called it. Great call. I won't hold over the weekend but I like the pippeage I've collected so far.
Patience + Humility + Study = Success
  • #112,806
  • Sep 12, 2008 10:58am Sep 12, 2008 10:58am
Quoting TraderStar
I don't get it .. what did I say?
something about wanting to kill Gup if she gaps since you closed out early.
.... oh and needing patience
  • #112,807
  • Sep 12, 2008 10:59am Sep 12, 2008 10:59am
Quoting malcolmb14
bad idea ..... stop loss on weekends do not work

Feds tell Lehman they are on their own we will see gap open under 188

why hold a position when something so major coming out
So, if Lehman on their own .. would be very bearish. .. I guess .. yes no?
  • #112,808
  • Sep 12, 2008 10:59am Sep 12, 2008 10:59am
Quoting Macedonia
Bravo Traderstar well said. But i want to add some advise Monk and to many other newbies. dont get sucked in by all posts that show how much they won. I bet that psycologicaly efects you and you jump in a trade with frustration and folow blindly in an atempt to jump on the wining side and then all of a sudden it turns. dam that used to hapen to me alot. so have a plan and use your own mind. Don't listen to the bragers on this thread because no one (but few) have the balls to admit when they are wrong but only boast when they are on the wining side. that is why 100% on this thread a winning trades. and this frustrates you and you ask why am i loosing. dont wary because many others are loosing also but because they hibernate you dont hear about it.
Excellent!
  • #112,809
  • Sep 12, 2008 11:01am Sep 12, 2008 11:01am
Quoting TraderStar
I closed at 192.02 + 94


can I suggest something

Please do not listen to others ....study Karmos techniques.He is a good trader but has large draw down a regular

I think you are following him

Instead study your charts in this market nothing larger than 60 min will keep you out of trouble

If you must day trade have a strategy .... do not just buy cause you see it going up ... case in point you get in at 193 and have a 100 pip poss in minutes. Know why you are getting in . Are we breaking a fib level ... what are you going to do if trade goes against you . No plan = no account
Blogging daily now at www.volume.zone
  • #112,810
  • Sep 12, 2008 11:02am Sep 12, 2008 11:02am
Quoting forexer
hope you all doing great in the latest shoot up

the beast is still keeping the major downtrend ,and what we 're seeing now now is minor uptrend correction ,but the beast will find bears waiting for her at 195.00 level .

the beast will head back down again and the major targeted level is 180.00 in the long run
I agree forexer Until she makes it at least to the 178-180 this bear run ain't over, so my bias is to stay short whenever possible.
  • #112,811
  • Sep 12, 2008 11:03am Sep 12, 2008 11:03am
Quoting karmostaji
if we get a 15m QQE cross up with a candle close above the 15m gann hilo.
Did anyone take this trade? I did and I'm already up 200+ pips
Trade what you see, not what you think.
  • #112,812
  • Sep 12, 2008 11:03am Sep 12, 2008 11:03am
Quoting TraderStar
I read the chart differently I guess .. I made good pips shorting the rallies last night while you were longing the dips. When the last rally did not yield so much, I went flat, then went long, then went short again.

Overall the trend is down so I prefer to short rallies even if I collect less pips in the interim.

you are not listening .... I know you made 40 pips going short on one trade .. but the trend was UP on a 15 min . This trend started 24 hours ago .... you still shorting rallies today ?

I know you are a new trader just trying to reach out to you and guide you along. Do not get married to your trade
Blogging daily now at www.volume.zone
  • #112,813
  • Sep 12, 2008 11:04am Sep 12, 2008 11:04am
Quoting Eulogy
something about wanting to kill Gup if she gaps since you closed out early.
.... oh and needing patience
I guess I still don't get the correlation ... I can kill her patiently ..
  • #112,814
  • Sep 12, 2008 11:06am Sep 12, 2008 11:06am
Quoting malcolmb14
can I suggest something

Please do not listen to others ....study Karmos techniques.He is a good trader but has large draw down a regular

I think you are following him

Instead study your charts in this market nothing larger than 60 min will keep you out of trouble

If you must day trade have a strategy .... do not just buy cause you see it going up ... case in point you get in at 193 and have a 100 pip poss in minutes. Know why you are getting in . Are we breaking a fib level ... what are you going to do if trade goes against you . No plan = no account
Thanks malcomlb, but I do have my own plan, I trade my plan, I do well, and getting better all the time. I listen to karmo because when I first joined this thread and read through it, his analysis was the most consistently accurate in my opinion.
I am not following him,, but I respect his analysis & the reasons he gives for it. I am learning from him.
  • #112,815
  • Sep 12, 2008 11:07am Sep 12, 2008 11:07am
Quoting karmostaji
Did anyone take this trade? I did and I'm already up 200+ pips
I did too but did not hang in for so many pips .. chickened out, but still did well Thanks.
  • #112,816
  • Sep 12, 2008 11:11am Sep 12, 2008 11:11am
Quoting malcolmb14
you are not listening .... I know you made 40 pips going short on one trade .. but the trend was UP on a 15 min . This trend started 24 hours ago .... you still shorting rallies today ?

I know you are a new trader just trying to reach out to you and guide you along. Do not get married to your trade
Thanks again but I am not that new and today I was both long and short, sometimes simultaneously. It all worked out, my account is up nicely for the week.

I only date my trades, and then only casually

And you follow the 15 min, that is great and I am watching what you do. But I do not always trade that way and no one can say with 100% certainty just what the gup will do from here .. so since the trend is still down, I prefer the short side. When the long term trend is up again, I'll prefer the long side.
There was a time when I refused to short the guppy, I would short GBPCHF instead. I've gotten used to shorting her now, but my preference is still long .. just not when she is in a major downtrend
  • #112,817
  • Sep 12, 2008 11:11am Sep 12, 2008 11:11am
Thanks for everyone's input.

I've been trading on an off for about 5 years now.
And still make some of the "basic" mistakes over and over.

The one that kills me the most is having 9 successful trades in a row.
And then on the 10th trade....giving back all the pips made in the previous 9 because i "think" the market is going to do what i "want" it to do.

Letting profits ride and cutting losses short is my hardest thing to do.

I also don't use limit orders as much as i should and "lose" potential profits while not sitting in front of my computer.

yawn.....will learn in time.
--post hoc ergo propter hoc--
  • #112,818
  • Sep 12, 2008 11:13am Sep 12, 2008 11:13am
Quoting malcolmb14
mmm ... 700 pips minor ????

lol

we may close 197 gap this weekend
Hey... what can you know?

there were people still going long on EURUSD even one week after 08/08
"Everybody needs money. That's why they call it money" - Danny De Vito
  • #112,819
  • Sep 12, 2008 11:13am Sep 12, 2008 11:13am
Quoting TraderStar
Thanks malcomlb, but I do have my own plan, I trade my plan, I do well, and getting better all the time. I listen to karmo because when I first joined this thread and read through it, his analysis was the most consistently accurate in my opinion.
I am not following him,, but I respect his analysis & the reasons he gives for it. I am learning from him.

here is a chart for you ,... bullish divergence double bottom 4 hour ... that was 600 pips ago .. something to look out for in the future


http://www.forexfactory.com/attachme...9&d=1221164851
Blogging daily now at www.volume.zone
  • #112,820
  • Sep 12, 2008 11:13am Sep 12, 2008 11:13am
Looks like London is not taking any chance over the week-end. Profit taking is kicking in ..
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