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  • #2,981
  • May 14, 2009 5:15am May 14, 2009 5:15am
For those of you that dont speak Swiss/german i have provided an english translation.....but i dont speak American so it may need more translation for yall....

Firstly we take a predetermined % amount of our capital.I myself go 3% but you are free to select the % thats suits you sir.
Then we divide this capital amount by the stop which is on average about 350 pips.
Now we have a sum per pip.
Then my personal preferance is to divide this amount by 3 giving me the ability to do 3 separate protocols in any one trade.
Then we have a nice cuppa tea.

You may have to employ micro lots for a while but you can be beyond doubt that it will set you up for a jolly good show out there,what what i say.....

Any questions to "The Royal society for the protection of capital" Patron HRH"gor bless her"Her majesty
  • #2,982
  • May 14, 2009 5:16am May 14, 2009 5:16am
Quoting strat
I hope you are all watching and waiting. We have strong trends in both directions that are retracing ( at this point). We should be watching and looking for signs that the retrace will end. If you don't know what the signs are then you need to go back to the beginning of The Path of Learning.

For those that know the signs, KEEP THE PATIENCE and wait for PASR - do not jump the gun! The Queen has been kind to her serfs over the last couple of weeks so must be becoming impatient for some heads to roll. Make sure the head that rolls are NOT yours!

And...
700 points on GJ is one hell of a retracement...

I mean, that's over 60% of the move up.
  • #2,983
  • May 14, 2009 5:26am May 14, 2009 5:26am
Firsta you taka a nica % slica of il capitale.Forra mi itsa 3%.
Poi divisod buya de stoppy lossy.Normalmente 350 pippys.

AFFterri diviso in 3 pizza slice....oh god thats enough laters
  • #2,984
  • May 14, 2009 5:42am May 14, 2009 5:42am
i started spread betting at the begining....its cr8p....

50 pence a pip is huge.....and they know it(bloody bucket shops)

i went micro as soon as the penny dropped,and im glad i did....

You are doing EVERYTHING RIGHT......its the bucket shops thats doing you in.

(swiss/german)It is vital to ze plan to start as you mean to go on......dump ze bucket shop(english) i say what what......
  • #2,985
  • May 14, 2009 5:47am May 14, 2009 5:47am
Quoting Baba G

(swiss/german)It is vital to ze plan to start as you mean to go on......dump ze bucket shop(english) i say what what......
Wey aye man, allreet, all dee it noo.

Translation: You are spot on old bean, i agree, i will act on your advice right away...
  • #2,986
  • May 14, 2009 5:53am May 14, 2009 5:53am
Ve muzt nicht let zis "bucket shop bast8rds" get in ze way of our plan for vorld domination in ze F.X markets!!!!!

its just not cricket,we trya to meke di pizza butta they takea awaya il pasta......

In the words of the illustrious leader of the U.S.A for many years...."they be evil doers,they does evil".....lol
  • #2,987
  • May 14, 2009 6:03am May 14, 2009 6:03am
Quoting KillPhil08
700 points on GJ is one hell of a retracement...

I mean, that's over 60% of the move up.
KillPhil - Welcome aboard old chap!

Thanks BabaG - Yes, I got out of kiwi short for a small loss as I made an error by moving the stop to the high of the IB which was hunted out
Morale of story - cover the full stop distance as per the plan - no excuses
Trade less and become more profitable!
  • #2,988
  • May 14, 2009 6:07am May 14, 2009 6:07am
Quoting Grimweasel
KillPhil - Welcome aboard old chap!

Thanks BabaG - Yes, I got out of kiwi short for a small loss as I made an error by moving the stop to the high of the IB which was hunted out
Morale of story - cover the full stop distance as per the plan - no excuses
As long as your happy dude....were all with you pal.....
There is no I in T E A M......
  • #2,989
  • Edited 7:11am May 14, 2009 6:58am | Edited 7:11am
Quoting KillPhil08
700 points on GJ is one hell of a retracement...

I mean, that's over 60% of the move up.
For what it's worth, i think today's close on GBPJPY should tell us something about the direction it wants to go in in the medium term.

There's an obvious uptrend but as KillPhill says, this trend does appear to be stalling.

Today's bar is at confluence of the 61 Fib from the most recent swing low, at 32 Fib from the major swing low, an ascending TL which has been sporting the major trend since the beginning of the year and the 50SMA.

But i don't know sweet FA, so comments welcome

Attached Image (click to enlarge)
Click to Enlarge Name: sterlingyen.gif Size: 19 KB


Oh, and i would suggest my trend lines show momentum is falling out of the uptrend, but i'm new to drawing TL's, so again, comments welcome.
  • #2,990
  • Edited 7:38am May 14, 2009 7:37am | Edited 7:38am
Sony makes first loss in 14 years

Electronics giant Sony has reported its first annual loss in 14 years, after being hit by a big drop in sales.
 Sony reported a loss of 98.9bn yen ($1.04bn; £685m) for the year to the end of March, compared with a profit of 369.4bn yen the previous year.
The company blamed the global downturn and the strong yen for the loss. Worldwide sales were down 12.9%.

Keep alert to USDJPY, especially if you are trading it.


Toyota, and now Sony, along with many smaller Japanese companies are seeing their FIRST losses. Exports are vital to Japan's economy and, under orders from the Government, BOJ will step in at any time (usually during the Asian session) to buy $millions to weaken the Yen.


As I write this USDJPY is falling towards support at 94.50 meaning the Yen is getting stronger. Historically, BOJ likes to see USDJPY around 102 to 104.


This is not a prediction or a forecast - just an alert - the Japanese do not like being messed with.
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,991
  • May 14, 2009 7:41am May 14, 2009 7:41am
Quoting AstonDan
For what it's worth, i think today's close on GBPJPY should tell us something about the direction it wants to go in in the medium term.
Unless 139 swing low is penetrated, trend is up. But I agree that uptrend momentum is stalling. The recent swing high on May 7th couldn't manage to print HH on the chart, so it is a sign of weakness.
  • #2,992
  • May 14, 2009 8:17am May 14, 2009 8:17am
Pull up any indices chart (FTSE, DAX, DOW) and draw an ascending trendline on it from beginning of March and you will see that we have dropped down and we are sitting on it, much like sitting on a cliff. Everyone is watching now to see which way we go and it does affect the currencies, the dollar crosses, Yens and CAD.
If you are wondering why yens ... when the indices fall the yens strengthen and yen crosses will fall. The usual pattern has been for the dollar to strengthen too.
So we watch and we wait ...
  • #2,993
  • May 14, 2009 8:18am May 14, 2009 8:18am
Quoting AstonDan
For what it's worth, i think today's close on GBPJPY should tell us something about the direction it wants to go in in the medium term.

There's an obvious uptrend but as KillPhill says, this trend does appear to be stalling.

Today's bar is at confluence of the 61 Fib from the most recent swing low, at 32 Fib from the major swing low, an ascending TL which has been sporting the major trend since the beginning of the year and the 50SMA.

But i don't know sweet FA, so comments welcome

Looks to me as if a double top has formed, well almost a double top. Admittedly the two SHs are a tad apart but the difference between those and the previous SHs is marked when looked at quickly on the chart.

My comment hasn't added anything to the debate but I've put it in anyway.

As you say, wait for the end of day candle to close.
  • #2,994
  • May 14, 2009 8:50am May 14, 2009 8:50am
Quoting Lotuselanman
Looks to me as if a double top has formed, well almost a double top. Admittedly the two SHs are a tad apart but the difference between those and the previous SHs is marked when looked at quickly on the chart.

My comment hasn't added anything to the debate but I've put it in anyway.

As you say, wait for the end of day candle to close.
It could be quite a debate ... although it looks as though the beginning of April swing high was higher than the one at the end of last week, the daily closing prices of the recent swing high are higher by about 80 ticks ...
Hmmm are we using closes or candle tails ...
Put it on a line chart and there is no debate for me
Wonder what Strat says ...
  • #2,995
  • May 14, 2009 8:58am May 14, 2009 8:58am
Quoting elitejets
It could be quite a debate ... although it looks as though the beginning of April swing high was higher than the one at the end of last week, the daily closing prices of the recent swing high are higher by about 80 ticks ...
Hmmm are we using closes or candle tails ...
Put it on a line chart and there is no debate for me
Wonder what Strat says ...
I'm not biased either way, i think if the TL and 50 hold, that tells us alot, and if the TL and 50 are broken, that also tells us a lot.
  • #2,996
  • May 14, 2009 9:23am May 14, 2009 9:23am
Hi Baba G

Spooky spooky....
Just read this, at the moment I just have a SB account and I have been looking for a broker that does micro accounts. Reason being, if 0.50p is too much for my % risk with SL on a trade via a SB broker, that I can still trade, although with a micro account from 0.05..

Do you have any recomendations...just looked at Activtrades..minimum seems to be 0.10 and my demo FX pro is 0.10..

Thanks in advance for any help/advice....I can't seem to find one yet at 0.05!
  • #2,997
  • May 14, 2009 9:39am May 14, 2009 9:39am
Quoting KillPhil08
700 points on GJ is one hell of a retracement...

I mean, that's over 60% of the move up.
That's the nature of the beast that is GBPJPY. She has put in a double top and formed an almost perfect reverse head and shoulders.

Whether it's 700 pips, 7 pips or 7000 pips, the recommendation stays the same, watch what it does at the TL support and S&R support she is on right now.
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,998
  • May 14, 2009 10:06am May 14, 2009 10:06am
Quoting pmn100
4 days later, page 50 :nerd: I'm getting there.

Thanks for all the input, and special thanks for Strat for the thread.

Finished (the thread that is), and on page 200 as well. Thanks for everyone's input. I've a few more things to do, restudy PA, look into Fib drawing with Bobokus, then go over my charts spending a lot of time adding appropriate S/R.

I'd like to get registered on the Path of Learning, if you'll have me?
  • #2,999
  • May 14, 2009 10:16am May 14, 2009 10:16am
Quoting AstonDan
For what it's worth, i think today's close on GBPJPY should tell us something about the direction it wants to go in in the medium term.

There's an obvious uptrend but as KillPhill says, this trend does appear to be stalling.

Today's bar is at confluence of the 61 Fib from the most recent swing low, at 32 Fib from the major swing low, an ascending TL which has been sporting the major trend since the beginning of the year and the 50SMA.

But i don't know sweet FA, so comments welcome

Attachment

Oh, and i would suggest...
Yes, you do know sweet Fanny Adams - I've seen you talking with her many times!

As Blackeagle so rightly points out, technically the uptrend is still valid until the "head" at 140.68 (close, my data) is taken out.

My Momentum studies show bullish Momentum slowing in April and pretty much grinding to a halt anytime soon meaning we go into "neutral". It does not mean we go into bearish momentum as it could stay in neutral (go sideways) as long as there is no dominant buying or selling pressure. The previous bullish momentum could also continue. We don't guess direction anytime and instead let the BIG BOSS and BOSS reveal their grail to the Worker. We then look for the Worker to show us her PASR and then..........

I would have liked to tell you what my Momentum Cycles position was but last night, while going into MT4 to copy my cycles program onto a Word file so that I could "tweak" it, I accidentally hit "delete" instead of copy! The annoying thing is that the "cycles" part of my "stuff" has been settled for 3 months or so and I just had a "what if" situation run through my head and thought I would see what the result would be. This proved a very costly "what if" moment as I did not have copies of my programs (although I thought I had). Needless to say, I have to recover 18 months of development work of which about 90% is in my head. The remaining 10% is the hard part - that was developed through many time consuming trial and error scenarios which I have to somehow recreate again. As a result of this, it shut down my cycles and momentum cycles so I am now cycle-less. (Cyclops might be a better description you say?).
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,000
  • May 14, 2009 10:22am May 14, 2009 10:22am
3000 posts already, well done Strat

Do i get a special prize for being customer 3000?
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