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

  • #136,221
  • Nov 13, 2008 4:26pm Nov 13, 2008 4:26pm
thanks guys ... i 'll wait and see .... if the price goes above the resistance .. i may do a hedge ... nothing else to be done at the moment.
  • #136,222
  • Nov 13, 2008 4:26pm Nov 13, 2008 4:26pm
Quoting mentos
sorry guys for gettin out the thread ... but i got short in EURJPY from 119.15 and now the loss is -600 ..... Any help here please?
3 days was DOW in minus now in PLUS and I think Friday will be bullish ... now we'ra on the TOP after nice upmove ... if you find reserval you can close your position before up move again ... IMHO .... better ask the profi here ....

trade well ... and dont forget to set SL ...
  • #136,223
  • Nov 13, 2008 4:26pm Nov 13, 2008 4:26pm
Quoting mentos
i know .... and i never took a risk more than 3 % before .... but this time i dont know why i didnt make a SL ....

am searching now for a solution ..... i know it was my fault ... but the cost here is too much

still waiting for ur opinion guys

and sorry for disturbance.
You may get a small break here, next support down I see is 123.12, I would take it if it gets close.

If you were over leveraged then start pealing away parts as it goes down, like you would if you were in a good trade.
What's that smell?
  • #136,224
  • Nov 13, 2008 4:26pm Nov 13, 2008 4:26pm
Quoting USTrader
Thanks Scrat, for your input! Helps my little brain to focus on the pair's 'true' movement!
an opinion can reflect the "true" movement? i guess scrat then must have access to crystal balls
  • #136,225
  • Nov 13, 2008 4:27pm Nov 13, 2008 4:27pm
Quoting mentos
thanks guys ... i 'll wait and see .... if the price goes above the resistance .. i may do a hedge ... nothing else to be done at the moment.
do you have experience with hedging?
  • #136,226
  • Nov 13, 2008 4:28pm Nov 13, 2008 4:28pm
Quoting pkimnyc
i'm too to be in bulls or bears.
will have to see how things unfold.

congrats on your trade btw.
Thanks, I was simply playing a potential technical bounce. I had my stop loss close below
check out my blog: forexmademillionaire dot com
  • #136,227
  • Nov 13, 2008 4:28pm Nov 13, 2008 4:28pm
Quoting mentos
i know .... and i never took a risk more than 3 % before .... but this time i dont know why i didnt make a SL ....

am searching now for a solution ..... i know it was my fault ... but the cost here is too much

still waiting for ur opinion guys

and sorry for disturbance.
Get out & live to trade again. With the massive moves we are seeing, you can get it back. Watch carefully for the next setup, long or short. But if you stay as you are, you risk losing the other 50%

And next time ... stop losses in place!
That was always my hardest lesson to learn
  • #136,228
  • Nov 13, 2008 4:31pm Nov 13, 2008 4:31pm
Quoting Dr.Geppynius
do you have experience with hedging?
then i should close it immediately ....... ?

Quoting jon clogger
You may get a small break here, next support down I see is 123.12, I would take it if it gets close.

If you were over leveraged then start pealing away parts as it goes down, like you would if you were in a good trade.
thats my last hope

Quoting TraderStar
Get out & live to trade again. With the massive moves we are seeing, you can get it back. Watch carefully for the next setup, long or short. But if you stay as you are, you risk losing the other 50%

And next time ... stop losses in place!
That was always my hardest lesson to learn
extremely hard .... i knew i should lose some money to learn ...
  • #136,229
  • Nov 13, 2008 4:31pm Nov 13, 2008 4:31pm
Quoting mentos
.. i was watching it gettin higher .. but i couldn't make anything :S

that means losing 50 % of my budget ... is there any other solution?
I'm sorry you're in this situation and I know from experience how it feels .

IMHO, I would set a SL at 126.2 and see if she will ride down during tonights session.

To add to that. I would not try to ride it down for all 600 pips back. I would try to ride it down until it looks like direction can change bullish and close out.

Good luck.
  • #136,230
  • Edited 4:32pm Nov 13, 2008 4:32pm | Edited 4:32pm
Quoting Scrat
unbelievable. as soon as we started hitting new lows, price bounced back more than 700 pips. they never cease to amaze me. clear manipulation.
i am not buying into this and i advise newbies to stay away and observe. i do believe the trend IS bearish and IT WILL STAY bearish no matter what tricks big boys are pulling out of their asses. i will patiently wait for this rally to end and then i will short this beast again, and again, and again... until i see signs that downtrend has ended and uptrend has begin - in which case i will add...
completely agree, this move was an excellent exception from law of natural moves described by Gann. it simply turned up in the middle of move down. nice job, big buys!
  • #136,231
  • Nov 13, 2008 4:33pm Nov 13, 2008 4:33pm
Quoting Dr.Geppynius
do you have experience with hedging?
Hedging is the best bet but will 50% in already, I'm on the fence as to recommend it or not. That 50% can go to zero if not done right.

B
  • #136,232
  • Nov 13, 2008 4:35pm Nov 13, 2008 4:35pm
Quoting Dr.Geppynius
an opinion can reflect the "true" movement? i guess scrat then must have access to crystal balls
I don't think his crystal ball is any clearer than mine, but, I was reminded by his input to look at the overall TF up to monthly as well the S/R levels up and down the TF's to see the 'true' potential movement. Of course, as I looked myself, I see bears. You may see bulls. But, anyway you see it, I want to know your opinion on what you see. That is what I appreciate in Scrat's post, as well I might add, as your own!

As I said in a previous post:

Difficult to see, the future is. - Yoda

But I guess Yoda hadn't met Karmo!
  • #136,233
  • Nov 13, 2008 4:36pm Nov 13, 2008 4:36pm
Quoting Geppy
Thanks, I was simply playing a potential technical bounce. I had my stop loss close below
nice.
  • #136,234
  • Nov 13, 2008 4:38pm Nov 13, 2008 4:38pm
Quoting bigcoupe
I'm sorry you're in this situation and I know from experience how it feels .

IMHO, I would set a SL at 126.2 and see if she will ride down during tonights session.

To add to that. I would not try to ride it down for all 600 pips back. I would try to ride it down until it looks like direction can change bullish and close out.

Good luck.
thanks bigcoupe

and thank you all guys ... u were so helpful ...

i think i took a decision now ... if the price reaches 126.2 or 123.2 ... i ll close immediately.

wish u all best of luck .....
  • #136,235
  • Nov 13, 2008 4:38pm Nov 13, 2008 4:38pm
hedging in that situation without experience is just moving the decisionmaking to another day.
  • #136,236
  • Nov 13, 2008 4:42pm Nov 13, 2008 4:42pm
Quoting mentos
thanks guys ... i 'll wait and see .... if the price goes above the resistance .. i may do a hedge ... nothing else to be done at the moment.

Keep in my mind the risk of hedging and diminishing margin.
  • #136,237
  • Nov 13, 2008 4:46pm Nov 13, 2008 4:46pm
well 5m is confirmed range trade, 15m is almost there too. need something to break out
  • #136,238
  • Nov 13, 2008 4:46pm Nov 13, 2008 4:46pm
Quoting sonicdeejay
it has been 12 hrs that i m making $$ fr EJ long...
u can check [eur/jpy] thread..

Sonic
The big surge up in US session late hours just turned alot of Shortist SL...Amazing
Smart move indeed...

Have a nice day ahead...ppl..

Sonic
  • #136,239
  • Nov 13, 2008 4:51pm Nov 13, 2008 4:51pm
Quoting mentos
i know .... and i never took a risk more than 3 % before .... but this time i dont know why i didnt make a SL ....

am searching now for a solution ..... i know it was my fault ... but the cost here is too much

still waiting for ur opinion guys
and sorry for disturbance.

I think it is evident.

Closing you position and trading well with good money management will get your 600 pips back, not in the next 12 hours but thats what you need to learn today anyway.

Leaving your position open, you have a ~ 50% chance to loose even more. If you hate a 600 pips loss, when will you close your trade? 900? 1200? So you already have the wrong philosophy! And it will guarantee you a margin call.
  • #136,240
  • Nov 13, 2008 4:56pm Nov 13, 2008 4:56pm
Quoting fukinagashi
I think it is evident.

Closing you position and trading well with good money management will get your 600 pips back, not in the next 12 hours but thats what you need to learn today anyway.

Leaving your position open, you have a ~ 50% chance to loose even more. If you hate a 600 pips loss, when will you close your trade? 900? 1200? So you already have the wrong philosophy! And it will guarantee you a margin call.
Hi Fuinagashi!!!!!

I'm a big fan of your posts!!! You've helped me out bunches of times!!!

And you probably hadn't realized! be with you!
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