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

  • #119,941
  • Oct 7, 2008 7:17pm Oct 7, 2008 7:17pm
Quoting khaled22
Dear malcolmb,
What you see now on GBP/AUD ?????

ga was long .... 2.4550 .... target 2.4750 , aussie housing numbers out in a 13 min
Blogging daily now at www.volume.zone
  • #119,942
  • Oct 7, 2008 7:18pm Oct 7, 2008 7:18pm
Quoting PJkiller
really playing with price right here at these levels. Bunch of jackers.......
it is good just scalp the 5 min charts
Blogging daily now at www.volume.zone
  • #119,943
  • Oct 7, 2008 7:24pm Oct 7, 2008 7:24pm
Quoting malcolmb14
it is good just scalp the 5 min charts
malcolmb what price do we need to break on gj to get the 1 2 3 sell order going
Price does what price wants , I just need to be prepared.
  • #119,944
  • Oct 7, 2008 7:35pm Oct 7, 2008 7:35pm
Quoting malcolmb14
ga was long .... 2.4550 .... target 2.4750 , aussie housing numbers out in a 13 min
Malcolm,

I must be a complete idiot. Yesterday Aussie interest rate dropped 100 basis points and the AUD went up. Today home loans fell greater than forecast and ADU went up.

From now on, if indicators say long, I should go short and vice versa right
  • #119,945
  • Oct 7, 2008 7:50pm Oct 7, 2008 7:50pm
Quoting malcolmb14
ga was long .... 2.4550 .... target 2.4750 , aussie housing numbers out in a 13 min
Did you see the top @2.4900 or 2.5000 then we can short ?????
  • #119,946
  • Oct 7, 2008 7:56pm Oct 7, 2008 7:56pm
Quoting janela
Malcolm,

I must be a complete idiot. Yesterday Aussie interest rate dropped 100 basis points and the AUD went up. Today home loans fell greater than forecast and ADU went up.

From now on, if indicators say long, I should go short and vice versa right
as auslanco said, fundamentals and news are farts without a smell!
I recommend you read something else as this sentence is now concluded.
  • #119,947
  • Oct 7, 2008 8:11pm Oct 7, 2008 8:11pm
Quoting janela
Malcolm,

I must be a complete idiot. Yesterday Aussie interest rate dropped 100 basis points and the AUD went up. Today home loans fell greater than forecast and ADU went up.

From now on, if indicators say long, I should go short and vice versa right
sorry i am confused (Actual > Forecast = Good for currency)
Forcast = -1.0%
Actual = -2.2%
so home loans not greter than forecast, is that true????
you are confused me
  • #119,948
  • Oct 7, 2008 8:14pm Oct 7, 2008 8:14pm
Quoting khaled22
sorry i am confused (Actual > Forecast = Good for currency)
Forcast = -1.0%
Actual = -2.2%
so home loans not greter than forecast, is that true????
you are confused me
Forecast fall of 1% but home loans were worse - they fell by 2.2%. This is not good for economy
  • #119,949
  • Oct 7, 2008 8:16pm Oct 7, 2008 8:16pm
what is the best indicator to catch impending reversal or correction?
I recommend you read something else as this sentence is now concluded.
  • #119,950
  • Oct 7, 2008 8:17pm Oct 7, 2008 8:17pm
Quoting khaled22
sorry i am confused (Actual > Forecast = Good for currency)
Forcast = -1.0%
Actual = -2.2%
so home loans not greter than forecast, is that true????
you are confused me
usually actual > forecast = good for currency

What that equation fails to note is that the effect of news is not only predetermined on just the news at the moment of release but also the movements of the currency prior to the news as traders place bets on the outcome. the AUDUSD 9.2% plummet in 2 days prior to the release was just too crazy and people should've expected a significant bounce.
  • #119,951
  • Oct 7, 2008 8:22pm Oct 7, 2008 8:22pm
Quoting janela
Forecast fall of 1% but home loans were worse - they fell by 2.2%. This is not good for economy
soAUD will be go down the GBP/AUG and EUR/AUD will GO UP
  • #119,952
  • Oct 7, 2008 8:35pm Oct 7, 2008 8:35pm
Guys, I am fed up of paying oanda 12pip spread on gbp/jpy during these days and eur/jpy awful 7 pips.

Are you guys also facing same experience from other brokers. Do the experienced traders here advice some broker who is fair and honest.

Its not about any marketing on this forum but just a decent help to a novice traders like me.
  • #119,953
  • Edited 9:01pm Oct 7, 2008 8:43pm | Edited 9:01pm
Quoting Obaidah
what is the best indicator to catch impending reversal or correction?
Experience and practice is the best indicator.

After this, Fibs and Pivot Points IMHO
  • #119,954
  • Oct 7, 2008 8:44pm Oct 7, 2008 8:44pm
Quoting harora
Guys, I am fed up of paying oanda 12pip spread on gbp/jpy during these days and eur/jpy awful 7 pips.

Are you guys also facing same experience from other brokers. Do the experienced traders here advice some broker who is fair and honest.

Its not about any marketing on this forum but just a decent help to a novice traders like me.
I'm with FXCM and am having the same problems.


B
  • #119,955
  • Oct 7, 2008 8:51pm Oct 7, 2008 8:51pm
Mystery-Ratio formed a daily reversal at 174.02

with this reversal in place we have closer to 500 pip gaps between the fib levels, and knowing from experience that these levels are always achieved, i am excited to see the big moves

I use 3 indicators

  1. the mystery which accurately picks up the reversal patterns
  2. the bullshit which accurately picks up the trend strength and
  3. the holyshit which picks up the strength of the currencies individually.

togather they give me the best of the price action.

Attached Image (click to enlarge)
Click to Enlarge Name: gj-holyshit.gif Size: 11 KB
  • #119,956
  • Oct 7, 2008 8:53pm Oct 7, 2008 8:53pm
Quoting harora
Guys, I am fed up of paying oanda 12pip spread on gbp/jpy during these days and eur/jpy awful 7 pips.

Are you guys also facing same experience from other brokers. Do the experienced traders here advice some broker who is fair and honest.

Its not about any marketing on this forum but just a decent help to a novice traders like me.
You are correct in that no one likes the extra spread in any currency pair, however since you are a novice trader (i consider myself a complete noob as well ) unless you are able to commit to a sizable capital investment and play with those ECN providers there really isn't all that much you can do. IMHO oanda's ability for you to trade lots down to as small as US$1 really outweigh their spreads. Besides there aren't all that many retail brokers friendly to small accounts nowadays that will allow you to trade the beast for spreads between 5-12 pips.
  • #119,957
  • Oct 7, 2008 8:57pm Oct 7, 2008 8:57pm
Quoting bigcoupe
I'm with FXCM and am having the same problems.


B
very bad wrap there. not only are spreads constantly 11+ pips even during Euro/US session crossovers, longs are interest negative, shorts are double interest charged.

kinda like when one of my workmates opened an account with GFT that guaranteed 3-4 pip spreads for cable, even during news times. He trades a market order during news. Order hangs for 3 mins and then gets filled 50 pips in the red. I think his comment summed it all up:

GFT = Great F***ing Time
  • #119,958
  • Oct 7, 2008 9:02pm Oct 7, 2008 9:02pm
Quoting forexlion
Mystery-Ratio formed a daily reversal at 174.02

with this reversal in place we have closer to 500 pip gaps between the fib levels, and knowing from experience that these levels are always achieved, i am excited to see the big moves

I use 3 indicators

  1. the mystery which accurately picks up the reversal patterns
  2. the bullshit which accurately picks up the trend strength and
  3. the holyshit which picks up the strength of the currencies individually.

togather they give me the best of the price action.

so put this in english we are heading up big time!!!
Price does what price wants , I just need to be prepared.
  • #119,959
  • Oct 7, 2008 9:03pm Oct 7, 2008 9:03pm
Quoting Eulogy
very bad wrap there. not only are spreads constantly 11+ pips even during Euro/US session crossovers, longs are interest negative, shorts are double interest charged.

kinda like when one of my workmates opened an account with GFT that guaranteed 3-4 pip spreads for cable, even during news times. He trades a market order during news. Order hangs for 3 mins and then gets filled 50 pips in the red.
The interest issue was short lived so I let that slide. But you're right. You cannot scalp the news in FXCM. I've been caught in the same trap.

What are peoples recommendations when it comes to trading the news?

B
  • #119,960
  • Oct 7, 2008 9:19pm Oct 7, 2008 9:19pm
Quoting harora
Guys, I am fed up of paying oanda 12pip spread on gbp/jpy during these days and eur/jpy awful 7 pips.

Are you guys also facing same experience from other brokers. Do the experienced traders here advice some broker who is fair and honest.

Its not about any marketing on this forum but just a decent help to a novice traders like me.
I think that OANDA is pretty fair about spreads, you should check other brokers.

Why is it so high? you have to remember this is a cross pair, so you have to pay the GBP/USD spread plus the USD/JPY spread.

The spread increases with high volatility, right now is GBP/USD 8.0 and USD/JPY 4 so the GBP/JPY is 12.0
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