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

  • #126,721
  • Oct 27, 2008 4:12am Oct 27, 2008 4:12am
We will most likely see a new low in the coming hours, stay tuned.

If BOJ intervenes, I'll call Grandpa Buffet to sell 1,000 yards so no worries lol
Trade what you see, not what you think.
  • #126,722
  • Oct 27, 2008 4:13am Oct 27, 2008 4:13am
Quoting karmostaji
It means look down into a dark hole
It means more blood on the chart
It means the trend is down
It means a lot of $$$

THAT is the funniest thing i read outside of the post the other night that had the title of

Whatever Happens
Tell my wife i loved her.
--post hoc ergo propter hoc--
  • #126,723
  • Oct 27, 2008 4:14am Oct 27, 2008 4:14am
Quoting Monk
thanks...the main reason i ask is i always seem to catch a move \"piece meal\"
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.
right now, price is trending, and the trend is down. we are getting small pull backs (50-60) pips here and there, all the time. when u need to use a b/e stop, don't do that as soon as u get green pips, wait for price to break a good S/R level, or at least drop a significant amount of pips.

when i first started this strategy i got stopped out at b/e 60% of the time, then i learned that i should give my 20-40pip SL some space first, then when i get a good amount of pips i close half and set the rest to B/E.

like i said, this system needs some discipline to be carried out, it's not as simple as it seems. managing ur stops is a very essential part, u have to play reverse psychology on your brain.
  • #126,724
  • Oct 27, 2008 4:26am Oct 27, 2008 4:26am
Quoting lilmoe
right now, price is trending, and the trend is down. we are getting small pull backs (50-60) pips here and there, all the time. when u need to use a b/e stop, don't do that as soon as u get green pips, wait for price to break a good S/R level, or at least drop a significant amount of pips.

when i first started this strategy i got stopped out at b/e 60% of the time, then i learned that i should give my 20-40pip SL some space first, then when i get a good amount of pips i close half and set the rest to B/E.

like i said, this system needs some discipline to be carried out, it's not as simple as it seems. managing ur stops is a very essential part, u have to play reverse psychology on your brain.
understood.

Right now is when i start getting nervous again.....
Short from 4500.....price has gone was low as it has and has retraced 100 pips. Current stop is at 4300

Which means i am locked in 200 pips.....all good....happy with that.
But it kills me to sit and whatch 50% of what i "could" have had go up in smoke.

What kills me even more....is i have the stop above place....i walk away.....i get stopped out only to find out if i would have place the stop at 150 pips profit i could have made another 600 pips when the damn thing plummets.

frustrated......but still making pips i guess.
--post hoc ergo propter hoc--
  • #126,725
  • Oct 27, 2008 4:30am Oct 27, 2008 4:30am
Quoting Monk
understood.

Right now is when i start getting nervous again.....
Short from 4500.....price has gone was low as it has and has retraced 100 pips. Current stop is at 4300

Which means i am locked in 200 pips.....all good....happy with that.
But it kills me to sit and whatch 50% of what i \"could\" have had go up in smoke.

What kills me even more....is i have the stop above place....i walk away.....i get stopped out only to find out if i would have place the stop at 150 pips profit i could have made another 600 pips when the damn thing plummets.

frustrated......but still making pips i guess.
making pips is better than making no pips and better than losing pips
  • #126,726
  • Oct 27, 2008 4:32am Oct 27, 2008 4:32am
Quoting moneybookers
making pips is better than making no pips and better than losing pips
agreed.
  • #126,727
  • Oct 27, 2008 4:32am Oct 27, 2008 4:32am
Quoting Monk
understood.

Right now is when i start getting nervous again.....
Short from 4500.....price has gone was low as it has and has retraced 100 pips. Current stop is at 4300

Which means i am locked in 200 pips.....all good....happy with that.
But it kills me to sit and whatch 50% of what i \\"could\\" have had go up in smoke.

What kills me even more....is i have the stop above place....i walk away.....i get stopped out only to find out if i would have place the stop at 150 pips profit i could have made another 600 pips when the damn thing plummets.

frustrated......but still making pips i guess.
pond in few
  • #126,728
  • Oct 27, 2008 4:38am Oct 27, 2008 4:38am
short at 143, 35 pip SL
  • #126,729
  • Oct 27, 2008 4:39am Oct 27, 2008 4:39am
Nice entry
  • #126,730
  • Oct 27, 2008 4:41am Oct 27, 2008 4:41am
Quoting gimp
Nice entry
yea, former support.
  • #126,731
  • Oct 27, 2008 4:45am Oct 27, 2008 4:45am
Quoting lilmoe
short at 143, 35 pip SL
closed half for 100 pips, R@BE
  • #126,732
  • Oct 27, 2008 4:50am Oct 27, 2008 4:50am
Quoting lilmoe
short at 143, 35 pip SL
hey guys,

GoodMorning,

nice trading today, beside short scalping, i was reading long term analysis.

i read and appreciate Karmo's and Lilmoe posts about shorting, as the major trend is down.
I am just wondering if this is seems to be nice setup of double bottom on guppy and eurjpy.

by the way nice setup for a buy scalp right now @142.32 ???
  • #126,733
  • Oct 27, 2008 4:57am Oct 27, 2008 4:57am
Quoting harora
hey guys,

GoodMorning,

nice trading today, beside short scalping, i was reading long term analysis.

i read and appreciate Karmo's and Lilmoe posts about shorting, as the major trend is down.
I am just wondering if this is seems to be nice setup of double bottom on guppy and eurjpy.

by the way nice setup for a buy scalp right now @142.32 ???
morning.

careful with longs, i see a trending PA, and we might currently be a the top of wave 4 on 5m chart. wave 5 is about to start, and may take out friday's low. so be careful.
  • #126,734
  • Oct 27, 2008 5:02am Oct 27, 2008 5:02am
It seems going up to 150 then come down to 130
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  • #126,735
  • Edited 5:08am Oct 27, 2008 5:07am | Edited 5:08am
Attachment
Quoting lilmoe
morning.

careful with longs, i see a trending PA, and we might currently be a the top of wave 4 on 5m chart. wave 5 is about to start, and may take out friday's low. so be careful.
no, i m not long yet.. I was looking for 15 min qqe and gann setup and
lilmoe's confirmation .
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  • #126,736
  • Oct 27, 2008 5:13am Oct 27, 2008 5:13am
Quoting 5ysfx
m30 ema 55 resistance

tank baby

im going to sleep have a nice hunting everyone.
heh

baby is tanking so nicely
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  • #126,737
  • Oct 27, 2008 5:25am Oct 27, 2008 5:25am
added more short at 141.60
  • #126,738
  • Oct 27, 2008 5:30am Oct 27, 2008 5:30am
whats your S/L on that bro? i got in at 141.80 also. S/L above 142.10 above the 50ema 1m. but maybe need more room to breath? lol

also your TP? 139 or below?

Quoting lilmoe
added more short at 141.60
  • #126,739
  • Oct 27, 2008 5:33am Oct 27, 2008 5:33am
Quoting lilmoe
added more short at 141.60
stopped out...
  • #126,740
  • Oct 27, 2008 5:34am Oct 27, 2008 5:34am
me too . dang. oh well i am going to get some sleep and be back for NY open. take care limoe

Quoting lilmoe
stopped out...
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