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

  • #174,261
  • Apr 30, 2009 10:59am Apr 30, 2009 10:59am
Quoting malcolmb14
not really ..... the volume in the upward move off 139 is showing steady buying still ..Even on that last dip it as just bought again , nothing like being in the market for 1.5 hours and making 200 pips

the volume in last 4 hour has been really high , this could show signs of weakness as high volume bars close to old areas of ressitance can indicate sellers.
one bear bar and ur paying me 2 for 1 400pips...lol..hhahah!!
Imanuel Parsifal
  • #174,262
  • Apr 30, 2009 11:07am Apr 30, 2009 11:07am
I will follow you if you don't mind this time:-).

I could not get out right now actual, I am at work:-(
  • #174,263
  • Apr 30, 2009 11:12am Apr 30, 2009 11:12am
hmmmmm
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MY OPINION NOT FINANCIAL ADVISE
  • #174,264
  • Apr 30, 2009 11:14am Apr 30, 2009 11:14am
Quoting arezab
Just be careful mate.

I don't know if you have any experience about how blowing an account hurts but I do .. so use the experience of everybody here and let your account grow.

JMHO
Hopefully I will use MM diligently, but I know what you mean it is painful to lose a trade imagine to blow your accnt. But I bet you got back your tuition as they say.
Thanks
  • #174,265
  • Apr 30, 2009 11:20am Apr 30, 2009 11:20am
Malcomb is this reasonable?
  • #174,266
  • Apr 30, 2009 11:25am Apr 30, 2009 11:25am
Hmm, I had been there but mini one. Yes, it hurts. If you dont feel the pains, then you won't a successful trader. You may be a big gambler, then you don't feel that much pains. Hey, no pain no gain! Cheers.

My experiences after I blowed one mini account was that, if you lose 1-2-3 trades, then don't keep double the lots. Stay calm, re-plan your strategy, and don't let the emotional hurt your mentals. That is why most ppls did good on demo because you don't care about it.(fake money).

I am not saying I am winning now, I am still losing but I am better than few months ago. MM is still my enenmy. I am still learning how to control it. Good Luck.
  • #174,267
  • Apr 30, 2009 11:26am Apr 30, 2009 11:26am
Quoting Big Bruv
Newbies have to understand that
1. you need a plan - and stick to it
2. Have a SL and stick to it

It is very easy to get confused on this board bicos Auslanco's original system has been adapted..remember systems don't work all the time..hence the adapting...markets change and so does your system...
2 years ago it was ok having a SL of 30 - 40 pips...now i just don't think it is enough trading geppy unless you are Malcb...baby
sorry late reply..just finish my clubbing with peer since tomorrow we r in Holiday...
  • #174,268
  • Apr 30, 2009 11:32am Apr 30, 2009 11:32am
Quoting arezab
Depends on which time frame you are trading, the size of the positions and your equity (Money Management). If you are trading GJ in H4 or higher 300 pips is nothing.
  • #174,269
  • Apr 30, 2009 11:33am Apr 30, 2009 11:33am
Quoting Andrew Vu
Hmm, I had been there but mini one. Yes, it hurts. If you dont feel the pains, then you won't a successful trader. You may be a big gambler, then you don't feel that much pains. Hey, no pain no gain! Cheers.

My experiences after I blowed one mini account was that, if you lose 1-2-3 trades, then don't keep double the lots. Stay calm, re-plan your strategy, and don't let the emotional hurt your mentals. That is why most ppls did good on demo because you don't care about it.(fake money).

I am not saying I am winning now, I am still losing but...
The thing is right now this is easy to trade, ww are in strong uptrend and channeling but when it ranges and spikes thats another ballgame.
  • #174,270
  • Apr 30, 2009 11:35am Apr 30, 2009 11:35am
Quoting Fusion
Where is agood place right now for buying deep? Any suggestions?
You might want to try buying dips at the lower trend line. It's been holding up well.
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  • #174,271
  • Apr 30, 2009 11:40am Apr 30, 2009 11:40am
Quoting Pips_Cruiser
You might want to try buying dips at the lower trend line. It's been holding up well.
Many thanks.
  • #174,272
  • Apr 30, 2009 11:42am Apr 30, 2009 11:42am
Bit quite...just finish my clubbing with my peers..just short for looking @ 145.50 first and set my sell limit @ 147.5 area...

Breaking this 147.75 may seen north 149-152-155....else am looking for south next week..
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  • #174,273
  • Apr 30, 2009 11:43am Apr 30, 2009 11:43am
Quoting Fusion
Many thanks.
  • #174,274
  • Apr 30, 2009 12:07pm Apr 30, 2009 12:07pm
Quoting grashid
Bit quite...just finish my clubbing with my peers..just short for looking @ 145.50 first and set my sell limit @ 147.5 area...

Breaking this 147.75 may seen north 149-152-155....else am looking for south next week..
Hey bro since you are drawing multiple TLs on the chart if you turn off chart's grid, your chart will look better.

For me they are useless I don't know what for you are using them. JMO
Discipline + Patience - Fear - Greed = Success
  • #174,275
  • Apr 30, 2009 12:28pm Apr 30, 2009 12:28pm
Dow in the red, perhaps a move down below 144 to find more buyers, then back up to 148.00. Respecting the t/l on the dip.
Patience + Humility + Study = Success
  • #174,276
  • Apr 30, 2009 12:31pm Apr 30, 2009 12:31pm
Anybody pays attention about calls done by large companies such LLoyds tsb?
http://www.actionforex.com/technical...2009042285590/

I mean they must have an hedge when it comes to pull the trigger they are market movers... If they say mkt is going to 160 it is in their best interest to achieve it...I'm sure the financials are a cartel just like oil companies and move the market whichever way they want.

Any thoughts?
  • #174,277
  • Apr 30, 2009 12:36pm Apr 30, 2009 12:36pm
Quoting Andrew Vu
I will follow you if you don't mind this time:-).

I could not get out right now actual, I am at work:-(


I closed day trade and reversed off 146.50. There is some signs of weakness and we moved into 147 , with a low volume doji forming on the 60 min indicating potential weakness , coupled with the distribution i saw in the Lonodn session overnight. I am not as bullish for gj to hit 150as i was in Asia last night as there have been some signs of weakness showing up in the 60 min volume between the London and US session. I am not saying that we are going to tank though , may be more like some kind of range.

. i am back to day trading

I closed my swing trade long in the 146.5 zone to .

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Blogging daily now at www.volume.zone
  • #174,278
  • Apr 30, 2009 12:40pm Apr 30, 2009 12:40pm
Quoting Estero
Anybody pays attention about calls done by large companies such LLoyds tsb?
http://www.actionforex.com/technical...2009042285590/

I mean they must have an hedge when it comes to pull the trigger they are market movers... If they say mkt is going to 160 it is in their best interest to achieve it...I'm sure the financials are a cartel just like oil companies and move the market whichever way they want.

Any thoughts?

COME ON !!! think about this for a minutes . Why would it be in lloyds interest to say that it is going to 160. I know why !! they want to sell alll the way down building their position for the move to 120.

remember oil at 120 ..... everyine saying oil going to 200 and when it moved up slightly to 150 as all the retail buyers were taking the bait , professionals were selling it like crazy
Blogging daily now at www.volume.zone
  • #174,279
  • Apr 30, 2009 12:41pm Apr 30, 2009 12:41pm
Quoting malcolmb14
I closed day trade and reversed off 146.50. There is some signs of weakness and we moved into 147 , with a low volume doji forming on the 60 min indicating potential weakness , coupled with the distribution i saw in the Lonodn session overnight. I am not as bullish for gj to hit 150as i was in Asia last night as there have been some signs of weakness showing up in the 60 min volume between the London and US session. I am not saying that we are going to tank though , may be more like some kind of range.

. i am back to day trading

I closed...

I think back below 144
Patience + Humility + Study = Success
  • #174,280
  • Apr 30, 2009 12:42pm Apr 30, 2009 12:42pm
Quoting DutchTrader
Dow in the red, perhaps a move down below 144 to find more buyers, then back up to 148.00. Respecting the t/l on the dip.
i think we might find a small time range..to gain some momemtum and speculation for the south-side
Imanuel Parsifal
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