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

  • #168,741
  • Apr 1, 2009 8:16pm Apr 1, 2009 8:16pm
Quoting OrionsWay
You seem eager cullian, nothing wrong with such, NEVER forget you money management. It will be your demise if you dont, especially being so hungry for attack.
This is my month, I'm an aries
  • #168,742
  • Apr 1, 2009 8:18pm Apr 1, 2009 8:18pm
Quoting mktjong
I think this beast has really been drugged lately .. and programmed to go north only
Everyone betting on G20 and new creative accounting rules to get us out of this mess. *Poof* what recession?
  • #168,743
  • Apr 1, 2009 8:20pm Apr 1, 2009 8:20pm
Quoting cullian
This is my month, I'm an aries
Oh, and i finally mastered, money management, 10-20 pip stop, under resistance where i expect a bounce, kill sooner if candles look bad, move to BE asap, follow under each resistance, 2 loosers mean no more trades today, some days i only make 1 pip 20 to 30 times, but some days pay.
  • #168,744
  • Apr 1, 2009 8:24pm Apr 1, 2009 8:24pm
I can't ignore this inverse Head and Shoulder.
Attached Image (click to enlarge)
Click to Enlarge Name: geppy 4 hour 2.gif Size: 23 KB
  • #168,745
  • Apr 1, 2009 8:25pm Apr 1, 2009 8:25pm
hey big coupe, where is your short order for bounce?
  • #168,746
  • Apr 1, 2009 8:31pm Apr 1, 2009 8:31pm
Quoting mktjong
I think this beast has really been drugged lately .. and programmed to go north only
But seriously, i think the reason the big boys are long, is because we broke that long term UTL from the big drop, so we should be on at least a 50% retracement, if i understand everything correctly
  • #168,747
  • Apr 1, 2009 8:36pm Apr 1, 2009 8:36pm
Quoting grashid
Add another short from 142.20
Am holding 2 lot of 142.20 (+10pips)
1 lot of 141.75 (-45pips)

All be set to take @ 139.50 and am put SL=145..hit my SL..am loosing ~USD12K for this April fool month...

Bored and sleepy...

Take care guys...
Aik..still not 145 yet..ehem 143.75 is the resistance..So am adjust my Sl to reduce my losses to be @ 144...Seems going back to down test to 140.63....

Just hold all this short with more than - pips each (2 lot almost -100 while another one with -125 pips....
  • #168,748
  • Apr 1, 2009 8:41pm Apr 1, 2009 8:41pm
Quoting grashid
Aik..still not 145 yet..ehem 143.75 is the resistance..So am adjust my Sl to reduce my losses to be @ 144...Seems going back to down test to 140.63....

Just hold all this short with more than - pips each (2 lot almost -100 while another one with -125 pips....
Im not an expert, but that seems like a lot of risk, i put 10-20 pip stops, and if it gets hit, i was wrong, and i move on, you must have a large account to take such draw down.
  • #168,749
  • Apr 1, 2009 8:41pm Apr 1, 2009 8:41pm
Quoting grashid
Aik..still not 145 yet..ehem 143.75 is the resistance..So am adjust my Sl to reduce my losses to be @ 144...Seems going back to down test to 140.63....

Just hold all this short with more than - pips each (2 lot almost -100 while another one with -125 pips....
do not make the same mistake i did when i below up my first account, these open trades will keep you away from taking new good ones, no offense but do not keep losing trades open..
I recommend you read something else as this sentence is now concluded.
  • #168,750
  • Apr 1, 2009 8:41pm Apr 1, 2009 8:41pm
Cable target reached. Normally price retraces when it reaches a previous high contract volume target.
Attached Image (click to enlarge)
Click to Enlarge Name: 6B 06-09 4_1_2009 (30 Min).jpg Size: 120 KB
  • #168,751
  • Apr 1, 2009 8:44pm Apr 1, 2009 8:44pm
closed a long for +70
I recommend you read something else as this sentence is now concluded.
  • #168,752
  • Apr 1, 2009 8:46pm Apr 1, 2009 8:46pm
Quoting GodfreyH
Cable target reached. Normally price retraces when it reaches a previous high contract volume target.
Humility is learned from failure not success and we often discover what will succeed, by finding out what fails. , hats the school of hard knocks, I'm an alumni. What i've learned from failure, is everything does the opposite during NFP week.
  • #168,753
  • Apr 1, 2009 8:51pm Apr 1, 2009 8:51pm
Quoting Obaidah
do not make the same mistake i did when i below up my first account, these open trades will keep you away from taking new good ones, no offense but do not keep losing trades open..
I agree with this, and open loosing trades are like a millstone around your neck. While it can be done successfully, it requires serious discipline and a solid knowledge of where historical support and resistance lines are, in order to release the trades without incurring further losses. For most of us, releasing the trades releases the mental burden and frees you to see other proper setups.
  • #168,754
  • Apr 1, 2009 8:52pm Apr 1, 2009 8:52pm
Quoting Obaidah
do not make the same mistake i did when i below up my first account, these open trades will keep you away from taking new good ones, no offense but do not keep losing trades open..
I just only loose~ 12% from my account..should not be an issue..

143.75 is the most resistance and she may reverse at anytime...
Am a bit studborn as I just wanna see how she react ..a bit gambling..
Lost mean April fool month am just started with almost -USD12K

Even she already broke my UTL..but am still stick with my stand that 143.75 will reverse sooner or later and she may not hit 145 by this week..

Am maybe wrong...appreciate your advice....since she already in - pips no way to me to take that losses by closing it...let she hit the SL or return to +pips.....
  • #168,755
  • Apr 1, 2009 8:54pm Apr 1, 2009 8:54pm
Quoting GodfreyH
I agree with this, and open loosing trades are like a millstone around your neck. While it can be done successfully, it requires serious discipline and a solid knowledge of where historical support and resistance lines are, in order to release the trades without incurring further losses. For most of us, releasing the trades releases the mental burden and frees you to see other proper setups.
I recommend you read something else as this sentence is now concluded.
  • #168,756
  • Apr 1, 2009 8:55pm Apr 1, 2009 8:55pm
Quoting ovaforty
I can't ignore this inverse Head and Shoulder.
Attached Image
  • #168,757
  • Apr 1, 2009 8:57pm Apr 1, 2009 8:57pm
just a slight hangup on the 15M bollinger band, this train should get under way any minute now
  • #168,758
  • Apr 1, 2009 9:14pm Apr 1, 2009 9:14pm
i calculate 143.62 from the inverted H&S, but i think even higher tonight
  • #168,759
  • Apr 1, 2009 9:14pm Apr 1, 2009 9:14pm
Quoting GodfreyH
Cable target reached. Normally price retraces when it reaches a previous high contract volume target.
Nice chart Godfrey. Can you share the indicator that shows "normal distribution (bell shape)"? Thanks a lot bro ..
  • #168,760
  • Apr 1, 2009 9:21pm Apr 1, 2009 9:21pm
Quoting GodfreyH
Cable target reached. Normally price retraces when it reaches a previous high contract volume target.
Is this why Big Coupe expects a bounce?
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