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

  • #129,461
  • Oct 31, 2008 12:54am Oct 31, 2008 12:54am
I'm getting some pretty horrible spreads all around the board on IBFX. So sad.
  • #129,462
  • Oct 31, 2008 12:57am Oct 31, 2008 12:57am
Quoting VishalJ
I'm short.. markets don't like that boj didn't cut by 50 - this is a short term trade and this is volatile with low volume, so it's a small trade.
WTF!!!! Got stopped out by a temporary 100+ pip spread.. on an INSTITUTIONAL platform!!
  • #129,463
  • Oct 31, 2008 12:59am Oct 31, 2008 12:59am
Thanks VishalJ and sonicdeejay

Good luck to you both

I think i will wait, i don't like choppy markets, they take all my sl

I have 2 pips spread usdjpyfor and 7 pips spread for gpbjpy.

wooowww what is that 100 pips spread; i never heard of that
  • #129,464
  • Oct 31, 2008 1:02am Oct 31, 2008 1:02am
Quoting VishalJ
WTF!!!! Got stopped out by a temporary 100+ pip spread.. on an INSTITUTIONAL platform!!
yeah, this is nuts
Trade what you see, not what you think.
  • #129,465
  • Oct 31, 2008 1:08am Oct 31, 2008 1:08am
Entered another risky short.. UJ needs to crack 98.
  • #129,466
  • Oct 31, 2008 1:10am Oct 31, 2008 1:10am
http://www.actionforex.com/fundamental-analysis/daily-forex-fundamentals/japan-overnight-call-rate-down-to-0.30%25.-yen-strengthens-further-2008103166532/

http://www.forexfactory.com/news.php?do=news&id=121485

http://www.forexfactory.com/news.php?do=news&id=121474
  • #129,467
  • Oct 31, 2008 1:12am Oct 31, 2008 1:12am
Quoting seejou

wooowww what is that 100 pips spread; i never heard of that
I've never seen it before.. I've seen inverted spreads a lot of times (best and easy way to make money) but never an outrageous spread like this. I've emailed them to see if it was a glitch or what.
  • #129,468
  • Oct 31, 2008 1:24am Oct 31, 2008 1:24am
Quoting VishalJ
I've never seen it before.. I've seen inverted spreads a lot of times (best and easy way to make money) but never an outrageous spread like this. I've emailed them to see if it was a glitch or what.
GM all,

This outrageous spread must have benn a glitch! I have 2 brokers myself and watching a third one on a MT4 platform just to check whether I am getting the correct prices and spreads. I have seen spreads up to 45 pips, but 100?! never

Regarding the spikes we have during the Tokyo session, I have read once that the japanese institutional traders agree usually on the time and the direction of their trades to make the biggest impact and to shake off foreign traders!!
  • #129,469
  • Oct 31, 2008 1:27am Oct 31, 2008 1:27am
Quoting forexian

Regarding the spikes we have during the Tokyo session, I have read once that the japanese institutional traders agree usually on the time and the direction of their trades to make the biggest impact and to shake off foreign traders!!
Actually no, that is called 'fixing'. The huge spikes you sometimes see during a session are due to official large orders placed by institutions. They don't do it to shake off traders, they could care less.

Sometimes reports of these 'fix'es leak out.. I have personally seen headlines like 'Rumor of Yen fix at 10 am EST'.. but no information is given about what kind of order it is. If the rumor is correct, then at 10 am there is a massive spike (up/down) So when I see those kind of headlines, I close all orders and stay on the side. It's then best to jump in .. to get in on the opposite side of the trade. Hope this helps.
  • #129,470
  • Oct 31, 2008 1:27am Oct 31, 2008 1:27am
Vishal

sorry to hear about your stop out situation. hope you are back in

what is your TP target for the shorts? 158?
Quoting VishalJ
I've never seen it before.. I've seen inverted spreads a lot of times (best and easy way to make money) but never an outrageous spread like this. I've emailed them to see if it was a glitch or what.
  • #129,471
  • Oct 31, 2008 1:28am Oct 31, 2008 1:28am
Quoting VishalJ
Entered another risky short.. UJ needs to crack 98.
Now UJ needs to crack 97.00 lol
  • #129,472
  • Oct 31, 2008 1:29am Oct 31, 2008 1:29am
Quoting Serendipity
Vishal

sorry to hear about your stop out situation. hope you are back in

what is your TP target for the shorts? 158?
I'm not looking at GJ (although i have a gj trade open) - I am exiting if UJ hits 97.00. Have a BE this time of 80 pips.. just in case any weird things happen!
  • #129,473
  • Oct 31, 2008 1:31am Oct 31, 2008 1:31am
i locked in profits so i got out at around 159. for my daily targets. as i said i dont wana be greedy kinda whipsaw environment right now

Quoting VishalJ
I'm not looking at GJ (although i have a gj trade open) - I am exiting if UJ hits 97.00. Have a BE this time of 80 pips.. just in case any weird things happen!
  • #129,474
  • Oct 31, 2008 1:32am Oct 31, 2008 1:32am
Quoting VishalJ
Now UJ needs to crack 97.00 lol
why?any chart?
  • #129,475
  • Oct 31, 2008 1:34am Oct 31, 2008 1:34am
current 4 h candle is below gann line, if it closes below....down we go.

two digits
  • #129,476
  • Oct 31, 2008 1:35am Oct 31, 2008 1:35am
Quoting moneybookers
why?any chart?
No, just my opinion.. i don't have any charts open. I just trade fundamentals - i shorted after boj decision. I only trade fundamentals and whole numbers for UJ , I hate charts

The downside is, I get to trade very few trades, but they are all 100% - the upside is, that I don't have to spend time in front of the computer all the time and scalp and all that.

I don't have patience like karmo.. i dont know how the hell he holds on to positions.
  • #129,477
  • Oct 31, 2008 1:36am Oct 31, 2008 1:36am
MT4 brokers are no different than casinos. there just to take your money
  • #129,478
  • Oct 31, 2008 1:37am Oct 31, 2008 1:37am
UJ @ 97.13.. I have exited. Better to keep profits. Now let's see if it cracks 97 or bounces off..
  • #129,479
  • Oct 31, 2008 1:38am Oct 31, 2008 1:38am
Quoting VishalJ
No, just my opinion.. i don't have any charts open. I just trade fundamentals - i shorted after boj decision. I only trade fundamentals and whole numbers for UJ , I hate charts

The downside is, I get to trade very few trades, but they are all 100% - the upside is, that I don't have to spend time in front of the computer all the time and scalp and all that.

I don't have patience like karmo.. i dont know how the hell he holds on to positions.
It really isn't all that hard when you are out on a casual drive in your Ferrari.
  • #129,480
  • Oct 31, 2008 1:39am Oct 31, 2008 1:39am
Quoting dengzhi
MT4 brokers are no different than casinos. there just to take your money
True, funny.. first time i played a slot machine.. i won $165.. and I quickly cashed it and stopped playing. My friend won $3500 or something like that, he cashed out.. went to the $50 tables and lost it all.
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