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

  • #177,321
  • May 14, 2009 2:53pm May 14, 2009 2:53pm
Quoting sleep1Iopen
Keep an open mind Kurt, you might learn something new. Just cause it doesn't mix with your method doesn't mean it doesn't work for others.
It has nothing to do with keeping an open mind on my part but on yours, either you draw lines correctly or you don't draw lines at all.
  • #177,322
  • May 14, 2009 2:53pm May 14, 2009 2:53pm
Quoting Estero
You better know what you're doing...
It's all in the risk strategy. If you trade $100k then 1 lot is fine for most pairs (1% exposure). Exposure has to be cut in half on pound jappy though. That's what works for me.
  • #177,323
  • May 14, 2009 2:56pm May 14, 2009 2:56pm
Quoting Kurti
It has nothing to do with keeping an open mind on my part but on yours, either you draw lines correctly or you don't draw lines at all.
Say something intuitive or don't say anything at all. I use lines that touch tops and bottoms of candles too. I like to keep lines in or around the wicks most the time though. I don't question your methods and I prefer to listen instead of thinking to look for flaws.
  • #177,324
  • May 14, 2009 2:57pm May 14, 2009 2:57pm
Quoting sleep1Iopen
It's all in the risk strategy. If you trade $100k then 1 lot is fine for most pairs (1% exposure). Exposure has to be cut in half on pound jappy though. That's what works for me.
Just like the leverage, when you have all of the odds in your favor and know perfectly the risk to reward and are in control of your strategy there is nothing wrong in using more leverage but you have to know what your doing otherwise you're going to shrink your account very fast.
  • #177,325
  • May 14, 2009 2:58pm May 14, 2009 2:58pm
Quoting Estero
Just like the leverage, when you have all of the odds in your favor and know perfectly the risk to reward and are in control of your strategy there is nothing wrong in using more leverage but you have to know what your doing otherwise you're going to shrink your account very fast.
I hear ya on that. I've had my fair share of blowing up accounts in the past . It's always a learning process. The market is unforgiving.
  • #177,326
  • May 14, 2009 3:12pm May 14, 2009 3:12pm
Quoting sleep1Iopen
Say something intuitive or don't say anything at all. I use lines that touch tops and bottoms of candles too. I like to keep lines in or around the wicks most the time though. I don't question your methods and I prefer to listen instead of thinking to look for flaws.
You will always find points that are touched by the price but it doesn't necessarily mean that it's an important line.

In my picture I just drew channels randomly, and surprise, at some pints the price bounced, but that does not mean I drew the lines correctly.
Like I said, it creates a bad habit if not done right and has no significance for trading decisions.
And by the way, it was no personal offense but a general observation I noticed here on the thread
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  • #177,327
  • May 14, 2009 3:20pm May 14, 2009 3:20pm
Quoting Kurti
You will always find points that are touched by the price but it doesn't necessarily mean that it's an important line.

In my picture I just drew channels randomly, and surprise, at some pints the price bounced, but that does not mean I drew the lines correctly.
Like I said, it creates a bad habit if not done right and has no significance for trading decisions.
And by the way, it was no personal offense but a general observation I noticed here on the thread
I agree with you that most people on the threads don't draw correctly but everyone sees things different. You just have to cringe when you don't agree with someone's vision in the market and let them find what works for them. By offering your view on a chart someone drew with criticism and not backing it up with a chart/commentary of your own is not the proper etiquette to use. Bad habits will lead to failure and ultimately quitting or an increase in creativity. I don't take it personally cause I don't know you and your not part of my family.

I like your chart too. That's close enough to how I would draw as the harmonics look good. I don't use TL to call trades, they are more of a guide when in a trade.
  • #177,328
  • May 14, 2009 3:27pm May 14, 2009 3:27pm
Hi Peeps
Need your insight and advice..........seems like GBP/JPY bounced off the 61% Fib of recent high low........ have a short @ 1.45 ....... where should I take the loss and liquidate the position or is there a possibility of retest of 1.45 levels /move south in your opinion...........please advice
Would be thankful
happy trading
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BANDA333
  • #177,329
  • May 14, 2009 3:41pm May 14, 2009 3:41pm
I saw this article Sunday night before the massive sell off. The housewives at it again.

Quote
Japanese Housewives Increase Wagers Yen Will Weaken
Individual investors in Japan increased bets to the highest in six months that the yen will weaken as the economy stabilizes, jumping back into a trade that was all but wiped out last year....

http://www.bloomberg.com/apps/news?p...d=a3KpB_GHQrJI
  • #177,330
  • May 14, 2009 3:45pm May 14, 2009 3:45pm
I have a question: is it possible to upload AccuCharts on the thread? I tried already, and it did not let me do it. Also, I think they are .nhc files, so I don't know if one can only upload MT4 or not.
Thanks for your help, guys ... and girls if any around.
  • #177,331
  • May 14, 2009 3:48pm May 14, 2009 3:48pm
You could do what I do, pull up the charts, press alt+Print Screen, open MSPaint, click edit, paste, save as jpg.
  • #177,332
  • May 14, 2009 3:50pm May 14, 2009 3:50pm
Quoting imbiber
I saw this article Sunday night before the massive sell off. The housewives at it again.



http://www.bloomberg.com/apps/news?p...d=a3KpB_GHQrJI
http://www.thedigeratilife.com/image...gjapanese5.jpg

http://images.google.com/imgres?imgu...a%3DN%26um%3D1
  • #177,333
  • May 14, 2009 4:17pm May 14, 2009 4:17pm
Quoting imbiber
You could do what I do, pull up the charts, press alt+Print Screen, open MSPaint, click edit, paste, save as jpg.
Thanks a ton for your help, bro.
So, this is my view: I think this is the new chanel that is now in play. Lots of resistance @ 146.3 (Fib. 38.2%). Let's see if it plays out during Asia session.
I'd much appreciate your insights on these, my humble thougths.
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  • #177,334
  • May 14, 2009 4:25pm May 14, 2009 4:25pm
don't you guyz ever sleep..am trying to sleep,but the noise from your conversation's keep waking me up..oh! i guess it was the bull's noise
Imanuel Parsifal
  • #177,335
  • May 14, 2009 4:35pm May 14, 2009 4:35pm
Quoting sycho
don't you guyz ever sleep..am trying to sleep,but the noise from your conversation's keep waking me up..oh! i guess it was the bull's noise

Hey sycho, don't sleep, you can miss the great short

  • #177,336
  • May 14, 2009 6:29pm May 14, 2009 6:29pm
Quoting jumpman
Hey sycho, don't sleep, you can miss the great short

Hmm, not so sure about the great short, I'm not seeing much below 143.00 but off course anything is possible. This is another possible dip to go long
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  • #177,337
  • May 14, 2009 7:12pm May 14, 2009 7:12pm
what are the chances to shoot down when 4 hr qqe is crossed to upside ???

here is what i see

Price is right now facing resistance at 5 SMA on daily, 100 EMA on H4, 100 EA on H1, and 200 EMA on M30 and 61.8% fibo from 139 to 151

just now Gann could provide support on M15, qqe has confirmed the cross down on m15
  • #177,338
  • May 14, 2009 7:31pm May 14, 2009 7:31pm
Quoting harora
what are the chances to shoot down when 4 hr qqe is crossed to upside ???

here is what i see

Price is right now facing resistance at 5 SMA on daily, 100 EMA on H4, 100 EA on H1, and 200 EMA on M30 and 61.8% fibo from 139 to 151

just now Gann could provide support on M15, qqe has confirmed the cross down on m15
first we bounce from here, retest DPP [145.20] and then we'll see what's next..

If we break DPP, then we countinue our bear trip, if we bounce:

4h shows a retest of 147.50 possible today.. but we have to play our market
  • #177,339
  • May 14, 2009 7:34pm May 14, 2009 7:34pm
I am in for the ride down.
  • #177,340
  • May 14, 2009 7:47pm May 14, 2009 7:47pm
Quoting mikemay777
I am in for the ride down.
Or in for a ride
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