we should see a good pullback here.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #126,681
- Oct 27, 2008 2:47am Oct 27, 2008 2:47am
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
- #126,686
- Oct 27, 2008 2:54am Oct 27, 2008 2:54am
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
- #126,687
- Oct 27, 2008 3:03am Oct 27, 2008 3:03am
- | Joined Sep 2007 | Status: HAPPYness is the ONLY State 2 Be In | 375 Posts
bounced off the 1m 50ema. hmmmmmm wonder it will go up further ? 
i'm also showing an FE100 level at 143... with good divergence on m5.
so far it doesn't seem to want to bounce.
- #126,688
- Oct 27, 2008 3:04am Oct 27, 2008 3:04am
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
bounced off the 1m 50ema. hmmmmmm wonder it will go up further ?
- #126,690
- Oct 27, 2008 3:11am Oct 27, 2008 3:11am
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
- #126,692
- Oct 27, 2008 3:21am Oct 27, 2008 3:21am
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
lilmoe,
out of curiosity and the strong desire to learn....couple questions.
Since you are short from 4600......and the current price is ~4300....and you are thinking there will be a pullback:
1. at what level do you place a stop and
2. would you take a hedge on current short,
3. close a portion of it
.....or just pray for england and look to add more shorts on the pull back?
i would say if i was going to go long. but i didn't because i'm not liking the way price is fooling around on the 1m chart. im going to wait and add more shorts on a pull back if we get one, maybe to 1h 5sma.
but normally when i do go long, i always leave some of my shorts just in case that long doesnt work out, so yes, i do hedge (code name: "two timing")
no matter if i'm long or short, seeing a pullback or not, i ALWAYS take partial profit, either the first good amount of pips, or a the first S/R level.
my stops vary from 25 - 50 pips on scalps. and anywhere between 50-100 on swings
- #126,693
- Oct 27, 2008 3:29am Oct 27, 2008 3:29am
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Trade what you see, not what you think.
- #126,694
- Oct 27, 2008 3:31am Oct 27, 2008 3:31am
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
I'm feeling horrible, feel like dying from this sickness...
Collect some green pips for me as well, I'm going back to bed
hope u get better
- #126,699
- Oct 27, 2008 3:37am Oct 27, 2008 3:37am
my stops vary from 25 - 50 pips on scalps. and anywhere between 50-100 on swings
meaning i pick my entry....i'm in some profits....get stopped, or close the trade because its coming up on my stop!! then i wait....renter at a new level (lower or higher from my initial depending on the current direction) and then repeat the same process 5 times over.
Then i look back and see there has been a 800 pip move since i first entered and i have managed to catch only 200 of it.
Perfect example is tonight. First good trade was short at 4900.
Now we are at 4200/4300 and i have a short from 4500....all the previous ones having been stopped or closed all the way down.
I'm not trying to learn how to pick bottoms or tops....just why i only catch 20% of any given move!!!!!
thanks .....and anyone else please chime in.
--post hoc ergo propter hoc--
- #126,700
- Oct 27, 2008 3:37am Oct 27, 2008 3:37am
- | Joined Sep 2007 | Status: HAPPYness is the ONLY State 2 Be In | 375 Posts
get better bro. drink lots of green magma (young barley grass)
I'm feeling horrible, feel like dying from this sickness...
Collect some green pips for me as well, I'm going back to bed