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

Quoting Spectator

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Hmm...this is a bit harsh. If you bet your account on it sure...but otherwise this was a well judged gamble just like any other currency trade, especially if you have an account with guaranteed stops (such as the UK spread betting firms), where the fools are the spread betting company offering you this feature for a couple of points.

So far this year there have been a number of similar opportunities. The news is out there and if you have been following the parties involved for the past year, you must have a much better than 50/50 chance of guessing the outcome over the weekend. Add to this the asymmetry of a guaranteed stop distance relative to the size of the gap, and it is a trade with a high expected return. How exactly is that unprofessional?

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Quoting Spectator

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Hmm...if you risk only a few percent of your account I really don't see what the problem is. At the end of last week it was pretty clear that a deal was going to be difficult and anything done to get it through would also be reasonably bad new too. I've bet on weekend gaps 4 times this year when the conditions have been right...and they have all turned out...not enough to be statistically significant of course, but very profitable, considering the ratio of potential loss to potential gain...you only have to be right 50% of the time if the upside is significantly greater than the downside, and with proper risk management even such calculated gambles should lead to an account growing over time rather than blowing up...that is why you only risk 2%...it means you can screw up 50 times in a row before going bust...you have enough rolls of the dice for it to average out.

Just another perspective I suppose. Another advantage of a well calculated gap trade is that you cannot get panicked out of a position or close in profit too early. How many people do you know who close trades too early when in profit, or similar? Personally, I trade much better over a period of a few days rather than day trading. Too much noise within a day for my liking. Some people are good at it, but I am not.

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Quoting Dr.Geppynius

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lol, stop that. i can't take it anymore. are you serious and believe this? you cannot.
this is pure gambling and NEWBIES which read this thread might jump on the train. you cannot predict what they will decide but it is already priced into the charts..but therefore one must be able to read them correlated to volume! betting on gaps is like betting on the amount of cows ike will have killed till monday 12pm...

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Quoting markam

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I hope it holds for 20 more minutes so I can get in on the coming fall.

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Quoting TraderStar

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Why do you keep knocking what obviously is working well for him???

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Quoting karmostaji

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Price is rising now lol

This week is going to be nuts, price at 190.80 now from just below 190

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Quoting markam

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makes me wonder if we are about to get some positive Lehman announcement?

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Quoting karmostaji

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can you people just relax? damn.. who cares who made money and who lost money, if you made money then good for you and if you lost money then good luck next time

Share some good analysis otherwise keep quiet and stop whining n nagging like little babies

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Quoting karmostaji

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or maybe some BofA and Merril news

it's best to stay out until London opens, hopefully things will settle down a bit

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Quoting Dr.Geppynius

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i talk about the way in which it is advertised as well calculated etc! you know why gaps happen, what they are and what their purpose is? no. like i said before, newbies might get burned by this and jump on the train really fast.

cannot remember to have spoken to you

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Quoting DutchTrader

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Agreed

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Quoting markam

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Without a Lehman resolution, I expect to be at 186 before London opens

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Quoting forex_newguy

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i was asking the question ...

but its all over every major business websites ..

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Quoting Dr.Geppynius

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lol, stop that. i can't take it anymore. are you serious and believe this? you cannot.
this is pure gambling and NEWBIES which read this thread might jump on the train. you cannot predict what they will decide but it is already priced into the charts..but therefore one must be able to read them correlated to volume! betting on gaps is like betting on the amount of cows ike will have killed till monday 12pm...

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