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

  • #132,381
  • Nov 5, 2008 7:38pm Nov 5, 2008 7:38pm
check out this 2 min chart

lovely day trading range right now .. 50 to 60 pips

Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 23 KB
Blogging daily now at www.volume.zone
  • #132,382
  • Nov 5, 2008 7:40pm Nov 5, 2008 7:40pm
Quoting Monk
Currently Active Users Viewing This Thread: 97 (55 members and 42 guests)

i've always wondered....who are the 42????

lurkers?
Pay no attention to the men behind the curtain...
What's that smell?
  • #132,383
  • Nov 5, 2008 7:40pm Nov 5, 2008 7:40pm
anyone know if forexllion was saying LONG or SHORT? lol

I thought first he said the short trend is on etc. then another post said he was long aiming towards 159 area. so i am confused

thanks all

Serendipity

Quoting forexlion
There is a sound, time tested reason behind the trade

Chart 1: Daily chart trend reversed.

Chart 2: Fx Snipper confirmed the reverse.

And most importantly: The mystery indicator has never failed me, even during the days of 2000 pip moves.
  • #132,384
  • Nov 5, 2008 7:48pm Nov 5, 2008 7:48pm
i have short gj at 155.63. what would be an ideal SL? pls anyone may guide me? Thanks.
  • #132,385
  • Nov 5, 2008 7:52pm Nov 5, 2008 7:52pm
Quoting anbakani
i have short gj at 155.63. what would be an ideal SL? pls anyone may guide me? Thanks.

you got in wrong price. .. but that is another story

the pair is in a sideways movement right .... but if you are looking for a swing trade / day trade then you should ALWAYS wait for a flag to form (slight upward movement ) .

I think this thing goes 100 pip higher to go test the trendline that it broke out of earlier. TThat would be the flag I am looking for.

sideways movement can sometime be an accumulation stage ... once all sellers are absorbed by the buyers then she will start to move up .
Blogging daily now at www.volume.zone
  • #132,386
  • Nov 5, 2008 7:57pm Nov 5, 2008 7:57pm
Hi guys i am very new to forex. i have been observing the market for the past 1 year. Now decided to open live account. I really really need you guys assistance and guidance. PLease be there for me....thanks guys
  • #132,387
  • Nov 5, 2008 7:59pm Nov 5, 2008 7:59pm
Quoting malcolmb14
155.74 short for me .. 40 pip off half , stop loss break even other 1/2

I am still waiting for my chip buttie lunch ... with a pickled onion please. ...lol

Attachment

my trade is trying to survive ,what a bad volume now
I always knew that someday I would make it big
  • #132,388
  • Nov 5, 2008 8:02pm Nov 5, 2008 8:02pm
Quoting anbakani
Hi guys i am very new to forex. i have been observing the market for the past 1 year. Now decided to open live account. I really really need you guys assistance and guidance. PLease be there for me....thanks guys

I will be there for you .... just send cheque in mail to ,,,, lol

do not rely on others ..... rely only on yourself
Blogging daily now at www.volume.zone
  • #132,389
  • Nov 5, 2008 8:02pm Nov 5, 2008 8:02pm
hi malcolmb14,

what you advised is really make sense. so what shall i do as at now?
  • #132,390
  • Nov 5, 2008 8:03pm Nov 5, 2008 8:03pm
ok.....i'm done for now.
+180 for the day.
And thats after giving back 120 in the last 3 hours with this choppiness.

need to take a breather and see what direction she wants to choose
--post hoc ergo propter hoc--
  • #132,391
  • Nov 5, 2008 8:06pm Nov 5, 2008 8:06pm
Quoting malcolmb14
you got in wrong price. .. but that is another story

the pair is in a sideways movement right .... but if you are looking for a swing trade / day trade then you should ALWAYS wait for a flag to form (slight upward movement ) .

I think this thing goes 100 pip higher to go test the trendline that it broke out of earlier. TThat would be the flag I am looking for.

sideways movement can sometime be an accumulation stage ... once all sellers are absorbed by the buyers then she will start to move up .
or fall like a pack of cards
  • #132,392
  • Nov 5, 2008 8:06pm Nov 5, 2008 8:06pm
Quoting malcolmb14
I will be there for you .... just send cheque in mail to ,,,, lol

do not rely on others ..... rely only on yourself
in order to rely on myself at least i shall get some basic knowledge...lol

anyway thanks for your sincere thought.
  • #132,393
  • Nov 5, 2008 8:07pm Nov 5, 2008 8:07pm
Quoting anbakani
i have short gj at 155.63. what would be an ideal SL? pls anyone may guide me? Thanks.
put SL 80 pips away & watch the beast tank im wit you
  • #132,394
  • Nov 5, 2008 8:12pm Nov 5, 2008 8:12pm
Quoting kinzu
put SL 80 pips away & watch the beast tank im wit you

that trendline is 156.5 .... your stop need to be higher than that


the move to test it will be shapr if it happens

i am still holding short form this morning .. 160.7 .... yeah baby ... for verifcation members of my trading room will verify i was waffling about a market top this morning .( i hope they listened and shorted it at 160 for a lovely 500 pip for day)


i am aiming for 150 ... I hope ... but 155 is support on charts right now ... with 500 pip drops and no retracement i would like to see a nice flag form ... then drop to 150 ...
Blogging daily now at www.volume.zone
  • #132,395
  • Nov 5, 2008 8:13pm Nov 5, 2008 8:13pm
Quoting kinzu
put SL 80 pips away & watch the beast tank im wit you
i have just done that.
  • #132,396
  • Nov 5, 2008 8:14pm Nov 5, 2008 8:14pm
Quoting anbakani
i have just done that.
look at my post re trendline .. .your stop needs to be higher .. you will get stopped out only to watch her tank .. allow 200 pips ... you should be ok
Blogging daily now at www.volume.zone
  • #132,397
  • Nov 5, 2008 8:18pm Nov 5, 2008 8:18pm
Quoting malcolmb14
that trendline is 156.5 .... your stop need to be higher than that


the move to test it will be shapr if it happens

i am still holding short form this morning .. 160.7 .... yeah baby ... for verifcation members of my trading room will verify i was waffling about a market top this morning .( i hope they listened and shorted it at 160 for a lovely 500 pip for day)


i am aiming for 150 ... I hope ... but 155 is support on charts right now ... with 500 pip drops and no retracement i would like to see a nice flag form ... then drop to 150 ...
yup! great call this morning M...was short on the break of 160 like u said for some sweet pips..day turned out better than most lol..hit me up on skype when u can as im trading asia as usual..enjoy the fishing if i dont hear from u tho..
  • #132,398
  • Nov 5, 2008 8:21pm Nov 5, 2008 8:21pm
Quoting malcolmb14
look at my post re trendline .. .your stop needs to be higher .. you will get stopped out only to watch her tank .. allow 200 pips ... you should be ok
follow Malcomb. Its better safe than sorry
  • #132,399
  • Nov 5, 2008 8:21pm Nov 5, 2008 8:21pm
Quoting malcolmb14
that trendline is 156.5 .... your stop need to be higher than that


the move to test it will be shapr if it happens

i am still holding short form this morning .. 160.7 .... yeah baby ... for verifcation members of my trading room will verify i was waffling about a market top this morning .( i hope they listened and shorted it at 160 for a lovely 500 pip for day)


i am aiming for 150 ... I hope ... but 155 is support on charts right now ... with 500 pip drops and no retracement i would like to see a nice flag form ... then drop to 150 ...
hello, could you please post a pic of the flag you are wating? thank you.
  • #132,400
  • Nov 5, 2008 8:26pm Nov 5, 2008 8:26pm
Quoting lilmoe
loool, trust me, i do NOT over leverage. each trade uses 2% MM. my most risky trade ever was a risk of 5% of my account (which was not today obviously). i had 5 bad trades today and 2 winners. 1 of the winners was 5 pips, loooool, and the other was 1/2 for 70 pips and the rest were closed for -20. also, i closed 2 loser trades before their stops were hit (which saved me some pips, cuz their stops would've hit anyway)

so basically, if ALL were losers i would've lost 10%. i RARELY get 5 losing trades in a row.

5 trades X 2% = 10% loss.

far from over leveraging
you are unlucky then,i though you are on short side with 16050,why change to long? i got out too earlier with my shorts,only made 2% back,miss 300pips.
two days score is -5%.
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