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

  • #158,321
  • Feb 5, 2009 5:22pm Feb 5, 2009 5:22pm
Quoting Monk
NICE!!!!

that was spot on!!!
simple resistance level ...

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  • #158,322
  • Edited 5:35pm Feb 5, 2009 5:22pm | Edited 5:35pm
Quoting malcolmb14
long hit target ... now waiting for sell confirmation... right on target ...

got to love asia
how long did it take for you to become so good ?
i really got a feeling for this market

Edit - you really have not me
  • #158,323
  • Feb 5, 2009 5:27pm Feb 5, 2009 5:27pm
Not too many orders stacked up over 134.20. There should be some profit taking through the asian session.
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{Some Profound Statement goes here}
  • #158,324
  • Feb 5, 2009 5:27pm Feb 5, 2009 5:27pm
Quoting hazy
the markets listened to you ... ask for rally and get one ... nice

1) as per post not so long ago .. .15 min rsx very oversold .. no way I was going short .. so only looking for longs

2) zoom down to 5 min chart and see a double bototm forming with bullish div rsi..... got test of bottom just as I looked at chart.
3) was expected rally into the preivous support test.

4) placed buy order133.2 , take profit 133.65 and limit sell order 133.65

I can make pips easier in this kind of market than when it is ripping up ...lol

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  • #158,325
  • Edited 5:39pm Feb 5, 2009 5:28pm | Edited 5:39pm
Quoting shelby
how long did it take for you to become so good ?
i really got a feeling for this market

2 wives ..... and 1000's of charting hours ...

wives liked the money but the amount of time it took to learn how to trade !!!

yes ladies .. loaded and single ....well ok the loaded part was a lie !!!! lol
Blogging daily now at www.volume.zone
  • #158,326
  • Feb 5, 2009 5:42pm Feb 5, 2009 5:42pm
Quoting malcolmb14
2 wives ..... and 1000's of charting hours ...

wives liked the money but the amount of time it took to learn how to trade !!!
well, 1000 hours means 6 months i guess or less. so at list by the end of the year i could make some constant pips. if the market doesn't kill me by that time.
already took 20% of my account. but i was jumping from trade to trade like crazy. trying to figure it now.
i have to put a banner in front of me "Don't Chase it"

.hopefully i can keep my wife
  • #158,327
  • Feb 5, 2009 5:46pm Feb 5, 2009 5:46pm
here is the trades i just opened

SL for GJ close below 30min up trend
SL for GU close below 1h gann
target for both i am not sure exactly depend on PA i will figure the target

20% risk of the account

wish me luck
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  • #158,328
  • Feb 5, 2009 5:50pm Feb 5, 2009 5:50pm
Quoting shelby
well, 1000 hours means 6 months i guess or less. so at list by the end of the year i could make some constant pips. if the market doesn't kill me by that time.
already took 20% of my account. but i was jumping from trade to trade like crazy. trying to figure it now.
i have to put a banner in front of me "Don't Chase it"

.hopefully i can keep my wife
I can relate to that. I am usually a position trader, still short from 206.50, waited for 3 months to take the trade, so that shows how patient I can be. But then I have weeks where my ADD kicks in and I have to trade.

I eleviate that now by scalping EURJPY with small lots, keeps me busy, keeps my mind active, Keeps me in touch with PA and I feel like a trader, not a seat warmer. Golden Rule on scalping, 3 wrong trades and Im out for the day!
{Some Profound Statement goes here}
  • #158,329
  • Feb 5, 2009 5:52pm Feb 5, 2009 5:52pm
Quoting shelby
well, 1000 hours means 6 months i guess or less. so at list by the end of the year i could make some constant pips. if the market doesn't kill me by that time.
already took 20% of my account. but i was jumping from trade to trade like crazy. trying to figure it now.
i have to put a banner in front of me "Don't Chase it"

.hopefully i can keep my wife

lol makes sure you do not get to addicted ....one thing i have learned is never chase. I did not get in on the 600 pip up move today as i did not see the right oppertunity that I liked. I waited and waited and then shorted off the top and made several other decent trades.

You ALWAYS make mistake when you feel pressured to get into a trade , or the market is running away on you.

I also have a motto.. 2 x 25 pip losers .. shut her down for the day . I am not feeling the market . Once you get 2 losses the mental block that you will have will be hard to overcome either
1) to scared to trade
2) trying to get even with market ( always a money loser) !!!
Blogging daily now at www.volume.zone
  • #158,330
  • Feb 5, 2009 5:54pm Feb 5, 2009 5:54pm
Quoting msniper
here is the trades i just opened

SL for GJ close below 30min up trend
SL for GU close below 1h gann
target for both i am not sure exactly depend on PA i will figure the target

20% risk of the account

wish me luck

Wow, I do wish you luck... 20% !!
  • #158,331
  • Feb 5, 2009 5:57pm Feb 5, 2009 5:57pm
Quoting bpatto
I can relate to that. I am usually a position trader, still short from 206.50, waited for 3 months to take the trade, so that shows how patient I can be. But then I have weeks where my ADD kicks in and I have to trade.

I eleviate that now by scalping EURJPY with small lots, keeps me busy, keeps my mind active, Keeps me in touch with PA and I feel like a trader, not a seat warmer. Golden Rule on scalping, 3 wrong trades and Im out for the day!
i have talked with someone about position trading. i think it might be easier for me to trade that way since this is a crazy volatile market. but a lot of people quit swing trades this days because of the volatility and the fact that you can make (or lose) the amount of pips that you used to make in a month - now in a few days. i don't know what is good for me. one thing i know chasing is not.
thanks for feedback
  • #158,332
  • Feb 5, 2009 6:00pm Feb 5, 2009 6:00pm
Quoting malcolmb14
lol makes sure you do not get to addicted ....one thing i have learned is never chase. I did not get in on the 600 pip up move today as i did not see the right oppertunity that I liked. I waited and waited and then shorted off the top and made several other decent trades.

You ALWAYS make mistake when you feel pressured to get into a trade , or the market is running away on you.

I also have a motto.. 2 x 25 pip losers .. shut her down for the day . I am not feeling the market . Once you get 2 losses the mental block that you will have will...
well. tell you what.
i have done 1) and 2) over and over again. and every single trade i "feel" that this is the trade that will get me even with the market, get my money back and then i can trade with patience. lool
  • #158,333
  • Feb 5, 2009 6:00pm Feb 5, 2009 6:00pm
Quoting malcolmb14
1) as per post not so long ago .. .15 min rsx very oversold .. no way I was going short .. so only looking for longs

2) zoom down to 5 min chart and see a double bototm forming with bullish div rsi..... got test of bottom just as I looked at chart.
3) was expected rally into the preivous support test.

4) placed buy order133.2 , take profit 133.65 and limit sell order 133.65

I can make pips easier in this kind of market than when it is ripping up ...lol

Attachment

learnt not to be greedy in Asia .. closed short for 30 pip ....

lovely trade .. could not even believe it all came together ..... 2 very nice little earners ..

hope some of you followed along.
Blogging daily now at www.volume.zone
  • #158,334
  • Feb 5, 2009 6:02pm Feb 5, 2009 6:02pm
what that rally did was allow rsx to come out of the oversold zone on 15 min .

now we have a sell trigger ... this could head alot lower but i am happy with pips gained so far in Asia so calling it an evening and watching only.
Blogging daily now at www.volume.zone
  • #158,335
  • Feb 5, 2009 6:06pm Feb 5, 2009 6:06pm
Quoting shelby
i have talked with someone about position trading. i think it might be easier for me to trade that way since this is a crazy volatile market. but a lot of people quit swing trades this days because of the volatility and the fact that you can make (or lose) the amount of pips that you used to make in a month - now in a few days. i don't know what is good for me. one thing i know chasing is not.
thanks for feedback

position trading is ok ... but you have to have a planned trade a stick to it.

Sunday . i was talking to a buddy that position trades , he had target 135 , annd was buying every 100 pips down as price dropped to 125 ....

he had an awesome week ..... but had a trade planned and stuck to plan .

poistion trading these days you have to wait for the perfect entry
Blogging daily now at www.volume.zone
  • #158,336
  • Feb 5, 2009 6:20pm Feb 5, 2009 6:20pm
Quoting msniper
20% risk of the account

wish me luck
That was quick.
  • #158,337
  • Feb 5, 2009 6:21pm Feb 5, 2009 6:21pm
Quoting malcolmb14
position trading is ok ... but you have to have a planned trade a stick to it.

Sunday . i was talking to a buddy that position trades , he had target 135 , annd was buying every 100 pips down as price dropped to 125 ....

he had an awesome week ..... but had a trade planned and stuck to plan .

poistion trading these days you have to wait for the perfect entry
I would agree, not as easy and hassle free as you may think, you have to take into consideration things like swap, drawdowns, where to add to trades, and most importantly where to exit. Even if your plan is solid, and trade is on the correct side of the market it is extemely hard to watch your potential profit being erroded due to a retrace.

I don't have any projections for any new position trades at the moment so I am day trading.

The key to any style of trading is patience.
{Some Profound Statement goes here}
  • #158,338
  • Feb 5, 2009 6:30pm Feb 5, 2009 6:30pm
Quoting bpatto
I would agree, not as easy and hassle free as you may think, you have to take into consideration things like swap, drawdowns, where to add to trades, and most importantly where to exit. Even if your plan is solid, and trade is on the correct side of the market it is extemely hard to watch your potential profit being erroded due to a retrace.

I don't have any projections for any new position trades at the moment so I am day trading.

The key to any style of trading is patience.

oddly enough I taught my self to day trade fx about 2 years ago ( been traidng 6 years) .. the old days when markets were all choppy like they are right now. when I used to tell people i got 30 -50 pips a day , day in day out and they said ' yeah right '

I like trading in these conditions .. and always screw up when there is a strong trend ... unless i get in on the bottom... really odd

as for position trading .. no patience lol
Blogging daily now at www.volume.zone
  • #158,339
  • Feb 5, 2009 6:43pm Feb 5, 2009 6:43pm
ok this might sound like crazy talk..but looking at my daily's..it's not impossible we actually retrace all the way back to 129.90...

only to rip back up later in the day.....

oh baby...132 is key..if that breaks then i expect 129.90...baby

I will enter short if: we get a bounce at 132.30 to 134.40 and stall there...if we fail to break above this then bye bye...baby
  • #158,340
  • Feb 5, 2009 6:47pm Feb 5, 2009 6:47pm
Looks like shorts could be on the table if we get a 10min close below 132.80. UTL is holding and price broken out of the wedge.
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