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

  • #165,641
  • Mar 12, 2009 11:37pm Mar 12, 2009 11:37pm
Quoting forexboomer
well since you in the trade alrdy, i wouldnt take a loss now, instead wait for price to come back to break even and wait for a confirmed breakout......everything is still, no movement, wait for a close outside the fib levels at least to enter, just my advice, malcolm is good trader, and im sure he has little tricks to what he does to make his trading work......
by the way 50 pips is nothing.....so dont poo in your pants stay calm, the market always scares people into taking losses.....just try to make sure you know what your sl is and tp before entering the trade, i always make sure my moneymanagement/sl is within reason before taking a trade....VERY important
  • #165,642
  • Mar 12, 2009 11:37pm Mar 12, 2009 11:37pm
Quoting forexboomer
well since you in the trade alrdy, i wouldnt take a loss now, instead wait for price to come back to break even and wait for a confirmed breakout......everything is still, no movement, wait for a close outside the fib levels at least to enter, just my advice, malcolm is good trader, and im sure he has little tricks to what he does to make his trading work......
i hope it does come back to at least breakeven, if it gets near 136.50 before heading back down to break even i blow my entire account. eek. yes stupid noob :
  • #165,643
  • Mar 12, 2009 11:40pm Mar 12, 2009 11:40pm
Quoting fxnoob08
i hope it does come back to at least breakeven, if it gets near 136.50 before heading back down to break even i blow my entire account. eek. yes stupid noob :
oh, didnt know you risked your whole account.......gl sir
  • #165,644
  • Mar 12, 2009 11:42pm Mar 12, 2009 11:42pm
Quoting forexboomer
oh, didnt know you risked your whole account.......gl sir
yea i've been demoing for a while, refunded an account again with only 150$ and took it for a ride. won't happen again. :
  • #165,645
  • Mar 12, 2009 11:51pm Mar 12, 2009 11:51pm
Quoting fxnoob08
yea i've been demoing for a while, refunded an account again with only 150$ and took it for a ride. won't happen again. :
you want my advice? dont open an account with $150, those brokers are swines trying to get people to do that so they can margin call you and steal your money, if you trading minis, you need at the very least couple thousand for normal person, for lunatics 1k. 90% of traders lose money.......so you sort of have no odds playing with $150.....watch, now 20 guys are going to say they can turn $150 into 1 million in a month, lol , anyways gu is 1 hour gann closed down since 1 hour before, so it should fall at least to 1.3850 or lower..which could take gj down with it, pray it does
  • #165,646
  • Mar 12, 2009 11:54pm Mar 12, 2009 11:54pm
Quoting fxnoob08
i hope it does come back to at least breakeven, if it gets near 136.50 before heading back down to break even i blow my entire account. eek. yes stupid noob :
looks like you lucked out... failed on that move up 136.32 looks strong for now (wide spread downbar after an upthurst)

malcolmb - i realized that my trading method is like a "twin" of yours so i decided to combine them both for maximum power!
  • #165,647
  • Mar 12, 2009 11:55pm Mar 12, 2009 11:55pm
Quoting forexboomer
you want my advice? dont open an account with $150, those brokers are swines trying to get people to do that so they can margin call you and steal your money, if you trading minis, you need at the very least couple thousand for normal person, for lunatics 1k. 90% of traders lose money.......so you sort of have no odds playing with $150.....watch, now 20 guys are going to say they can turn $150 into 1 million in a month, lol , anyways gu is 1 hour gann closed down since 1 hour before, so it should fall at least to 1.3850 or lower..which could take...
thanks alot for the good advice. i'll be funding my next account with a couple grands for sure. i've learned my lesson
  • #165,648
  • Mar 12, 2009 11:56pm Mar 12, 2009 11:56pm
Quoting rogerdoger
looks like you lucked out... failed on that move up 136.32 looks strong for now (wide spread downbar after an upthurst)

malcolmb - i realized that my trading method is like a "twin" of yours so i decided to combine them both for maximum power!
if it failed on the move up, that means it's heading lower.. which is what i need it to do or did i misunderstand.
  • #165,649
  • Mar 12, 2009 11:58pm Mar 12, 2009 11:58pm
Quoting fxnoob08
if it failed on the move up, that means it's heading lower.. which is what i need it to do or did i misunderstand.
yes it is coming down but if it breaks that high from before you will be in trouble
  • #165,650
  • Mar 13, 2009 12:03am Mar 13, 2009 12:03am
Quoting rogerdoger
yes it is coming down but if it breaks that high from before you will be in trouble
im going to start trading off the hourly and higher TF's. i can't afford a heart attack , exited position at -25 pips loss. it hurts and it'll probably head lower but i can't afford that so better safe than sorry.
  • #165,651
  • Mar 13, 2009 12:06am Mar 13, 2009 12:06am
Quoting fxnoob08
im going to start trading off the hourly and higher TF's. i can't afford a heart attack , exited position at -25 pips loss. it hurts and it'll probably head lower but i can't afford that so better safe than sorry.
if you have less $ trade lower time frames
  • #165,652
  • Mar 13, 2009 12:07am Mar 13, 2009 12:07am
Quote
fxnoob08

I'd be careful right here. It looks as if a Bull Flag was broken out and then the upper down TL was tested and looks like it's bouncing up.

B.
Attached Image
  • #165,653
  • Mar 13, 2009 12:08am Mar 13, 2009 12:08am
Quoting fxnoob08
im going to start trading off the hourly and higher TF's. i can't afford a heart attack , exited position at -25 pips loss. it hurts and it'll probably head lower but i can't afford that so better safe than sorry.
ya, 1 hour or higher is probably best for you......4 hour is actually better, keep in mind some people only put in 1 or 2 trades per month and make a very nice living.....
  • #165,654
  • Mar 13, 2009 12:12am Mar 13, 2009 12:12am
Quote
im going to start trading off the hourly and higher TF's. i can't afford a heart attack , exited position at -25 pips loss. it hurts and it'll probably head lower but i can't afford that so better safe than sorry.

Patience... Patience.. It might come back down.. possibly 133 or lower, of course it may go back up too.. 139ish I'm leaning towards down and short but will wait to see what london open offers. if she breaks 136.5 i'll change my tune.. possibly

Next time trade a reasonable sized position that wont break your account, and then you wont sweat a 25-50 pip DD..

Cheers
  • #165,655
  • Mar 13, 2009 12:16am Mar 13, 2009 12:16am
Quoting Cdawg
Patience... Patience.. It might come back down.. possibly 133 or lower, of course it may go back up too.. 139ish I'm leaning towards down and short but will wait to see what london open offers

Next time trade a reasonable sized position that wont break your account, and then you wont sweat a 25-50 pip DD..

Cheers
thanks, a bunch to all of you. I really apreciate the responses that i've been given. I can only trade 1$/pip with my broker thats the reason, i should just start with more capital.
  • #165,656
  • Mar 13, 2009 12:23am Mar 13, 2009 12:23am
Quoting fxnoob08
thanks, a bunch to all of you. I really apreciate the responses that i've been given. I can only trade 1$/pip with my broker thats the reason, i should just start with more capital.
bro, micro lots is a really good way to go also, it enables you to average in positions, so when you put in a bad entry like you did, you can average it in and still make money if you wrong...unless you are trading full time, micro lots are a great way to pass the time and learn a lot
  • #165,657
  • Mar 13, 2009 12:32am Mar 13, 2009 12:32am
where have all the regulars gone ??
  • #165,658
  • Mar 13, 2009 12:39am Mar 13, 2009 12:39am
Quoting pipmyride
where have all the regulars gone ??
resting mate.... resting... this chopping PA kills..
  • #165,659
  • Mar 13, 2009 12:40am Mar 13, 2009 12:40am
GJ H1 TF
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  • #165,660
  • Mar 13, 2009 12:48am Mar 13, 2009 12:48am
it's just churning.

waiting for big boys.
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