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

  • #115,281
  • Sep 17, 2008 9:33pm Sep 17, 2008 9:33pm
Ok now that is funny

Quoting Monk
can we please go to 8850 first???

PLEASE!!!

I need a 600 PIP range for me to make up my mind its time to get in.....to then make 50 pips.....over which i give back 35 not exiting in time
Que
  • #115,282
  • Sep 17, 2008 9:34pm Sep 17, 2008 9:34pm
Quoting Que
Ok now that is funny
not kidding....but those 15 pips are hard earned pips.....i sweat over em
--post hoc ergo propter hoc--
  • #115,283
  • Sep 17, 2008 9:41pm Sep 17, 2008 9:41pm
Quoting Monk
not kidding....but those 15 pips are hard earned pips.....i sweat over em

if it makes you feel any better took short 190.54 .... closed 190.43 cause I got nervous ....dropped 100 pips from there....lol ....
Blogging daily now at www.volume.zone
  • #115,284
  • Sep 17, 2008 9:46pm Sep 17, 2008 9:46pm
and very nervous i can second mac14
  • #115,285
  • Sep 17, 2008 9:47pm Sep 17, 2008 9:47pm
Quoting malcolmb14
if it makes you feel any better took short 190.54 .... closed 190.43 cause I got nervous ....dropped 100 pips from there....lol ....
THAT right there....is my trading style......we could co-author a book!!!

Ok....everyone....lets all think 8880.....unless you are long....then think 215.00
--post hoc ergo propter hoc--
  • #115,286
  • Sep 17, 2008 9:52pm Sep 17, 2008 9:52pm
yen is oversold, pound overbought.. which one will determine the next direction?;
"Everybody needs money. That's why they call it money" - Danny De Vito
  • #115,287
  • Sep 17, 2008 9:56pm Sep 17, 2008 9:56pm
stopped out.....yet again......

looking for a new reentry....would like to get at least one more "real" trade in
--post hoc ergo propter hoc--
  • #115,288
  • Sep 17, 2008 9:57pm Sep 17, 2008 9:57pm
another 25 pips someone is trying to prop the markets

its an obvious buy but as always be careful
  • #115,289
  • Sep 17, 2008 10:02pm Sep 17, 2008 10:02pm
Quoting Monk
stopped out.....yet again......

looking for a new reentry....would like to get at least one more "real" trade in

give it up till euro session ... typically the 7:30 to about 9 pm pst is a dead zone.

I had trade trigger that suited my system , would have put me in long 189.80 , but did not take it due to time and been over trading today
Blogging daily now at www.volume.zone
  • #115,290
  • Sep 17, 2008 10:02pm Sep 17, 2008 10:02pm
entered long on USDJPY @ 108.30 with B/E for 100 pips;

play safe tonight
"Everybody needs money. That's why they call it money" - Danny De Vito
  • #115,291
  • Sep 17, 2008 10:02pm Sep 17, 2008 10:02pm
Here is a "typical trade" for me:

1. I go short at 9000
2. Price rises to 9040....me sweating it......
3. Price comes back to 9000 ....i breath a sign of relief....and almost close...thinking i got out of that one without losing
4. Price drops to 8940....and i think YAY.....hear we go.
5. Set stop close to BE....say 8930.
6. Price then reverses and i get stopped out

100 pip move completes itself......and i make 10 pips.

WTF
--post hoc ergo propter hoc--
  • #115,292
  • Sep 17, 2008 10:10pm Sep 17, 2008 10:10pm
Quoting Monk
Here is a "typical trade" for me:

1. I go short at 9000
2. Price rises to 9040....me sweating it......
3. Price comes back to 9000 ....i breath a sign of relief....and almost close...thinking i got out of that one without losing
4. Price drops to 8940....and i think YAY.....hear we go.
5. Set stop close to BE....say 8930.
6. Price then reverses and i get stopped out

100 pip move completes itself......and i make 10 pips.

WTF
Hi Monk, do you mind posting a screenshot when you've entered and explain why? In this slow time, maybe knowledgeable people could tell what was wrong?..
Just joking..
  • #115,293
  • Sep 17, 2008 10:12pm Sep 17, 2008 10:12pm
Quoting ephisi
very hig probalitiy that target will be hit, my bias is consolidation but with bullish bias until frankfurt london. maybe 100pips up 100pips down/ down and up

playing out quite nicely. just sidelines till frankfurt. Know when to stay out. except u are a range trader
  • #115,294
  • Sep 17, 2008 10:17pm Sep 17, 2008 10:17pm
Quoting Monk
can we please go to 8850 first???

PLEASE!!!

I need a 600 PIP range for me to make up my mind its time to get in.....to then make 50 pips.....over which i give back 35 not exiting in time
What broker do you have? I feel like I did the same as you do now 2 years back, playing with mini lots. When I didn't succeed as I wanted, I changed my broker to Oanda, where I could trade any size of units. I started very small (smaller then micro lots) and it worked, building up knowledge, patience and spirit, while reading and studying. Because of the small lot size it was never a big risk.
Slowly I added to my trades and it is still working.
At this moment I trade multiple mini lots and my goal is 2.5% gain on my account per week.

Maybe this can work for you too?

Let me know what you think,

Orca
New voice message: Why are you calling me? If I need you, I'll call you!
  • #115,295
  • Sep 17, 2008 10:19pm Sep 17, 2008 10:19pm
Quoting TraderStar
And has been doing it about every hour for the past several days

I am also trying to sort out who is bearish, who bullish in here .. problem is people often say they are bullish (or bearish) but don't mention timeframe .. so it might be bullish for the next hour, but overall bearish .. or vice versa.

Maybe some of the 'pros' in here could post their long term bias and if they are counter-playing some short term strategies in the meantime.
Down to 176 area
Trade what you see, not what you think.
  • #115,296
  • Sep 17, 2008 10:23pm Sep 17, 2008 10:23pm
Quoting Monk
Here is a "typical trade" for me:

1. I go short at 9000
2. Price rises to 9040....me sweating it......
3. Price comes back to 9000 ....i breath a sign of relief....and almost close...thinking i got out of that one without losing
4. Price drops to 8940....and i think YAY.....hear we go.
5. Set stop close to BE....say 8930.
6. Price then reverses and i get stopped out

100 pip move completes itself......and i make 10 pips.

WTF
take your system trading and demo for a while keep an excel sheet

off your decisions look at your profit or loss after the first month then the

second then decide that is if you have the time

but if you keep with it and change your system its poss
  • #115,297
  • Sep 17, 2008 10:25pm Sep 17, 2008 10:25pm
Quoting karmostaji
Down to 176 area
not sure on that for a few fundamental reasons that arose today

1) gold rose today $75 .. .a record = risk aversion
2) DJ closed under the 10800 level for 1st time in years = markets crashing
3) financial institutions going down left and right
4) gj still at 189 = intervention

gj should already be at 176 if it was going to get there
Blogging daily now at www.volume.zone
  • #115,298
  • Sep 17, 2008 10:28pm Sep 17, 2008 10:28pm
Quoting malcolmb14
not sure on that for a few fundamental reasons that arose today

1) gold rose today $75 .. .a record = risk aversion
2) DJ closed under the 10800 level for 1st time in years = markets crashing
3) financial institutions going down left and right
4) gj still at 189 = intervention

gj should already be at 176 if it was going to get there
yes, but how long can they hold it up?
  • #115,299
  • Sep 17, 2008 10:30pm Sep 17, 2008 10:30pm
Quoting KillerWhale
What broker do you have? I feel like I did the same as you do now 2 years back, playing with mini lots. When I didn't succeed as I wanted, I changed my broker to Oanda, where I could trade any size of units. I started very small (smaller then micro lots) and it worked, building up knowledge, patience and spirit, while reading and studying. Because of the small lot size it was never a big risk.
Slowly I added to my trades and it is still working.
At this moment I trade multiple mini lots and my goal is 2.5% gain on my account per week.

Maybe this can work for you too?

Let me know what you think,

Orca
sounds like we are on the same track.
I've been trading on and off for about 5 years. First got introduced to forex being a hack for a commodities shop robbing investors for 25K investments. This was back in 99....then in 2000 or so when forex got big in retail got my first demo account with refco.

Ever since then i have been trading on and off. But always watching. Broker is CMSFX and i can trade as small as .1 of a lot.

I was always a e/u guy....and did well. Hard to get hurt in something that considers a BIG DAY a 60 pip move.

Then on another board i got introduced to this damn pair....it was like going from doing a little bump on a friday night at a party to locking myself naked in the back of a closet smoking 8 balls of crack....

Honestly.....my goal would be to see a 100 pip trade on .2 of a lot....3 times a week.

I would be very happy with that. If i can do that consistently.....

I am in NO hurry to make money.....just trying to learn.

I have my own company as a programmer now a days.....so i sit in front of a computer all day and all night.....which is perfect for forex.

I have done well demo trading and even have demo accounts now where i can "test"

My issues are good entry and exits.
AND NOT OVER TRADING!!!!

I was up 300 pips today....off of that move.....and have managed to give back a third of it since then.

Hope this all makes sense
--post hoc ergo propter hoc--
  • #115,300
  • Sep 17, 2008 10:33pm Sep 17, 2008 10:33pm
Quoting Monk
Here is a "typical trade" for me:

1. I go short at 9000
2. Price rises to 9040....me sweating it......
3. Price comes back to 9000 ....i breath a sign of relief....and almost close...thinking i got out of that one without losing
4. Price drops to 8940....and i think YAY.....hear we go.
5. Set stop close to BE....say 8930.
6. Price then reverses and i get stopped out

100 pip move completes itself......and i make 10 pips.

WTF
do not go for the 100 pip moves .. sure they are great

instead go for moves of 30 - 50 pips .. some days like today i have done a few trades , most of them being profitable , and i have racked up a nice sum in the account.

but even if I only get one 30 pip trade a day , by risking 3% of my account (50 pips stop) I can grow 10 k into 1 million in 2 years by compounding

last move down my short entry 190.10 , closed for 50 pips ,shortly after ( another 10 pips) it reversed.

this move up (i did not take it) 189.80 entry ... would have just closed for 50 pips

trade a strategy ... stick to it .. and do not be greedy ... 4 trades of 30 - 50 pips is better than trying to hit one trade for 200 out of the park. The 30 - 50 pip trades come along all the time. The 200 pips trades are a lot more scarce. This market is not typical.

develop a habit and stick to it ... do not be greedy
Blogging daily now at www.volume.zone
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