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

  • #128,441
  • Oct 29, 2008 3:58pm Oct 29, 2008 3:58pm
Quoting vinesh2
Does anyone know if there is any kind of indicator where you can setup an alaram so that when a price is approcahing your TP the alaram sounds
yeah he is called Mitch ... my eleven year old step son ..... lol

he sits there and watches the chart while i relax
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  • #128,442
  • Oct 29, 2008 3:59pm Oct 29, 2008 3:59pm
closed and reversed at 2 min 50 sma...30 pip stops

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  • #128,443
  • Oct 29, 2008 3:59pm Oct 29, 2008 3:59pm
Quoting vinesh2
Does anyone know if there is any kind of indicator where you can setup an alaram so that when a price is approcahing your TP the alaram sounds
Just use the chin breakout alert, you'll find it in the attachments!
  • #128,444
  • Oct 29, 2008 4:00pm Oct 29, 2008 4:00pm
Quoting malcolmb14
yeah he is called Mitch ... my eleven year old step son ..... lol

he sits there and watches the chart while i relax

hahaha do you pay him with milky bars
  • #128,445
  • Oct 29, 2008 4:01pm Oct 29, 2008 4:01pm
Quoting malcolmb14
closed and reversed at 2 min 50 sma...30 pip stops

Attachment

not done yet ..wants 160....I am out
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  • #128,446
  • Oct 29, 2008 4:02pm Oct 29, 2008 4:02pm
Malcolmb can you have him yell out when price approcahes my TP. Tell him to scream so that I can hear him here in NY
  • #128,447
  • Oct 29, 2008 4:04pm Oct 29, 2008 4:04pm
Quoting vinesh2
Does anyone know if there is any kind of indicator where you can setup an alaram so that when a price is approcahing your TP the alaram sounds
on my platform i have a "price alert" i can set.....and then choose a sound from my computer.

Take profit....sound of a Cash Register
Stop loss ..... sound of a toilet flushing.

No Kidding.

If you're not having fun while losing money.....whats the point?

p.s.....quickly learning these big swing days are not my style unless i get in early....and have some breathing room.

I dropped around 400 pips today......while at the same time have a few trades that were OVER 100 pip profit.

I should limit myself to TWO trades a day.
--post hoc ergo propter hoc--
  • #128,448
  • Oct 29, 2008 4:06pm Oct 29, 2008 4:06pm
Quoting susufx
hahaha do you pay him with milky bars
  • #128,449
  • Oct 29, 2008 4:07pm Oct 29, 2008 4:07pm
40 pip gap up on my platform gotta sell that LOL
"Millionaires don't use astrology, billionaires do"
  • #128,450
  • Oct 29, 2008 4:07pm Oct 29, 2008 4:07pm
Quoting vinesh2
Malcolmb can you have him yell out when price approcahes my TP. Tell him to scream so that I can hear him here in NY

I use esignal ... it can make all kinds of noises... it even has one for ' hey dumb arse do not go short here' lol
I think MT4 has some thing you can use

Tradestation has alerts
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  • #128,451
  • Oct 29, 2008 4:08pm Oct 29, 2008 4:08pm
Quoting malcolmb14
i have used 50 sma since day 1 of trading . i added 33 and 14 ...

the big red line is 50 sma on my last posting chart
ok sorry, i was just saying he's the one who introduced it to me

closed half of the remaining long for 180 pips. rest at 50+SL

i think i'll call it a day, or maybe not?? who knows.
  • #128,452
  • Oct 29, 2008 4:08pm Oct 29, 2008 4:08pm
come on 163......please please please.....that would set me right for the day.

If everyone in the world just bought .000000000000001 of a lot right now.....i would be ok.
--post hoc ergo propter hoc--
  • #128,453
  • Oct 29, 2008 4:11pm Oct 29, 2008 4:11pm
160 short ... 30 pips stop

price cannot get thru it ...
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  • #128,454
  • Oct 29, 2008 4:17pm Oct 29, 2008 4:17pm
Quoting malcolmb14
160 short ... 30 pips stop

price cannot get thru it ...

here is what I was looking at

scored a 30 pipper on that one .... now taking 4 hours off .. see you all later

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  • #128,455
  • Oct 29, 2008 4:22pm Oct 29, 2008 4:22pm
Lilmo I will surely check out the indicators. Just a comment on your trading style I think you are overtrading and overleveraging yourself. If you have the margin fine but if you are on a tight margin i strongly suggest to stop doing the above mentioned things. I have done it and almost blew my account. I limit mine to one trade a day and if things are looking good then maybe two but thats it. I have a weekley goal if i make it to the goal in 2-3 days i stop putting full lot trades i would do half lots just to experiment and try out new theories. i also focus only on maybe two pairs. Diversifying is the key.
  • #128,456
  • Oct 29, 2008 4:51pm Oct 29, 2008 4:51pm
Quoting vinesh2
Lilmo I will surely check out the indicators. Just a comment on your trading style I think you are overtrading and overleveraging yourself. If you have the margin fine but if you are on a tight margin i strongly suggest to stop doing the above mentioned things. I have done it and almost blew my account. I limit mine to one trade a day and if things are looking good then maybe two but thats it. I have a weekley goal if i make it to the goal in 2-3 days i stop putting full lot trades i would do half lots just to experiment and try out new theories. i also focus only on maybe two pairs. Diversifying is the key.

I did 70 plus trades yesterday between fx and futures....lol .... is that over trading ?

today was only a mere 20 or so

if the set up is there trade it ....seems to be working ok for me as hit rate has been about 80% and I let losers go early.
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  • #128,457
  • Oct 29, 2008 4:58pm Oct 29, 2008 4:58pm
price is moving along ema 14 on h1
momentum is going higher and higher

IMO shorts are pointless in this environment unless u are scalping only .

say hello to 168 soon
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  • #128,458
  • Oct 29, 2008 5:00pm Oct 29, 2008 5:00pm
Well I am sure 70 trades a day works for you but in the long run I think the more you trade the more you get exposed to the market and more you get stressed and emotional and more the chances of getting hit with a loss. It only takes one loser trade to wipe out 5 winning trades. All I am saying is that overleveraging is a bad idea in the long run sure its good to make money every few hours but its not fun when one stubborn trade can wipe out your account.
  • #128,459
  • Oct 29, 2008 5:10pm Oct 29, 2008 5:10pm
Quoting vinesh2
Well I am sure 70 trades a day works for you but in the long run I think the more you trade the more you get exposed to the market and more you get stressed and emotional and more the chances of getting hit with a loss. It only takes one loser trade to wipe out 5 winning trades. All I am saying is that overleveraging is a bad idea in the long run sure its good to make money every few hours but its not fun when one stubborn trade can wipe out your account.

If you dont agree with this style thats fine, this is a highly volatile pair and that movement is a double edged sword ....we get it. Personally taking these guys tips I have had my best 24 hours ever +800 pips (TY BTW) risk 2% doesnt seem that risky... We are all adults and responsible for our own actions ...Go play mom somewhere else JK
  • #128,460
  • Oct 29, 2008 5:16pm Oct 29, 2008 5:16pm
Quoting vinesh2
Well I am sure 70 trades a day works for you but in the long run I think the more you trade the more you get exposed to the market and more you get stressed and emotional and more the chances of getting hit with a loss. It only takes one loser trade to wipe out 5 winning trades. All I am saying is that overleveraging is a bad idea in the long run sure its good to make money every few hours but its not fun when one stubborn trade can wipe out your account.

you are right ... you have to trade with no emotion .. and to adhere to good MM . There will never be another market like this in my lifetime and I plan to make the most of it., Some of the trades / moves we see in an hour took a month before. In a slower market I like to do my 30 -50 pips a day , but knowing that I can go in with 20 or 30 lots and not have some crazy 100 pip reversal. In this market I go in with smaller position more often. Once i get 30 or 40 pips i take half off and move stop to be +1 other half .. it is a free trade / no stress.

If 1st 2 trades of day are losers I stop trading it is a good sign I am not in the right head space for the day

My stops are 45 pips on all trades ... soo if 1st 2 trades give me 200 I have to do 5 losing trades in a row.

as you can see form this forum my calls are fairly accurate .. just simply using 30 pip lines off thge daily pivot to trade around.

also knowing when to trade .... I made ok money in asia yesterday but it was tough and spreads were all over the place. I find the best time to trade for me is form 4am pst to 1p m pst . But mostly I am only in the marjet for the 1st 4 hours of that time .
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