Auslanco - GBP/JPY and GBP/USD (newstrade) | Page 8912 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/JPY, GBP/USD

Similar Threads

Auslanco-GBP/JPY Strength Indicator strategy 345 replies

Auslanco 15min GBP/JPY startegy 630 replies

My MT4 indicators for Auslanco's strategy 92 replies

Auslanco 15 minute Strategy Oanda FXManager Updates.. 62 replies

Questions About Auslanco's Trades 72 replies

Attachments: Auslanco - GBP/JPY and GBP/USD (newstrade)
Exit Attachments

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

  • #178,221
  • May 20, 2009 4:31am May 20, 2009 4:31am
Quoting bhanu545
hello guys.i am short in GJ from 144.3.will it reach that price again in this week??please help me guys.i am a newbie
What on earth were you thinking... You MUST use a stop to limit your losses. Also as soon as you start to run on hope ..... get the hell out of it ..... Sorry I cant give you any advise except losses are the best way to learn.

  • #178,222
  • May 20, 2009 4:34am May 20, 2009 4:34am
Quoting GreekEagle
it will go to 152.95 then will drop to 140 or even 135 i am a proffesional trader who trades many peoples accounts if you can hedge i would recomend you double up right here & close the longs at 152.90 then watch your losing position go back to make you even more money
PM me GreekEagle. It seems we're in the same biz.
Every time you use 'hopium' in a post, God kills a kitten.
  • #178,223
  • May 20, 2009 4:36am May 20, 2009 4:36am
Quoting GreekEagle
it will go to 152.95 then will drop to 140 or even 135 i am a proffesional trader who trades many peoples accounts if you can hedge i would recomend you double up right here & close the longs at 152.90 then watch your losing position go back to make you even more money
You're serious? You really recommend this kind of cowboy trade to a newbie? I'm not saying it won't work, but what about the poor guys account if it doesn't?
  • #178,224
  • May 20, 2009 4:40am May 20, 2009 4:40am
Quoting bhanu545
hello guys.i am short in GJ from 144.3.will it reach that price again in this week??please help me guys.i am a newbie
In all honesty, no one knows if we'll see 144 again soon, so you have 2 choices:

1. Cut the trade and put it down to experience.
2. Hedge the trade so your exposure to more upside is limited.

If you don't know why your trade went wrong, then you might want to step away from the market until you can read the direction better.

Good luck.
  • #178,225
  • May 20, 2009 4:43am May 20, 2009 4:43am
Quoting ukdaytrader
In all honesty, no one knows if we'll see 144 again soon, so you have 2 choices:

1. Cut the trade and put it down to experience.
2. Hedge the trade so your exposure to more upside is limited.

If you don't know why your trade went wrong, then you might want to step away from the market until you can read the direction better.

Good luck.
i advise the first option. Hedging is for professional traders. It might do you even worse. The worst is you will have a bad sleep at night but it will all be good later. Also since you are new i believe your account should be small so you would not have lost too much money.

You can never learn forex without loosing.
  • #178,226
  • May 20, 2009 4:46am May 20, 2009 4:46am
Quoting ukdaytrader
You're serious? You really recommend this kind of cowboy trade to a newbie? I'm not saying it won't work, but what about the poor guys account if it doesn't?
That's the thing about dispensing advice on forums... you have to know what to take and what not to take. I am currently long so I think it has some merit, but I myself wouldn't offer advice. I also don't hedge. If it changes direction, I realize my losses and move on. I just offer my opinion on where I think it's going to go, and in this case north. I have no targets... I exit when I think the move is over. IMO, the move up is not over yet.

Money is only a tool. Don't get attached to it because you'll get attached to a trade and end up getting margined out on a position that "has got to turn around soon." The market always moves in the "right" direction. As much as you think, want and hope it to move in another direction, the market does what it wants.
Every time you use 'hopium' in a post, God kills a kitten.
  • #178,227
  • May 20, 2009 4:49am May 20, 2009 4:49am
Quoting GreekEagle
it will go to 152.95 then will drop to 140 or even 135 i am a proffesional trader who trades many peoples accounts if you can hedge i would recomend you double up right here & close the longs at 152.90 then watch your losing position go back to make you even more money
profxtrader http://www.forexfactory.com/images/s...ser_online.gif



That's the thing about dispensing advice on forums... you have to know what to take and what not to take. I am currently long so I think it has some merit, but I myself wouldn't offer advice. I also don't hedge. If it changes direction, I realize my losses and move on. I just offer my opinion on where I think it's going to go, and in this case north. I have no targets... I exit when I think the move is over. IMO, the move up is not over yet.

Money is only a tool. Don't get attached to it because you'll get attached to a trade and end up getting margined out on a position that "has got to turn around soon." The market always moves in the "right" direction. As much as you think, want and hope it to move in another direction. The market does what it wants.


I know both of you is a good trader. But would you guys mine to share some of your chart & analysis so that am as a newbie able to learn too...

Pls help...
  • #178,228
  • May 20, 2009 4:51am May 20, 2009 4:51am
Anyone else long here? I am from 148.20 just debating where to put my SL
  • #178,229
  • May 20, 2009 4:54am May 20, 2009 4:54am
Quoting musicman007
Anyone else long here? I am from 148.20 just debating where to put my SL
man i was going to go long next hour but my macd is still bearish. I would expect the darn thing to be bullish within the next hour, but so far next hour's candle seem to be bearish as well.
I so want to go long. Above 148.50, bulls are still the best bet.
  • #178,230
  • May 20, 2009 4:55am May 20, 2009 4:55am
Damn it... it really go to 147.85... LOL..
  • #178,231
  • May 20, 2009 4:59am May 20, 2009 4:59am
Quoting ukdaytrader
you're serious? You really recommend this kind of cowboy trade to a newbie? I'm not saying it won't work, but what about the poor guys account if it doesn't?
okay then your so smart tell him how to get out besides closing for a 400 pip lose
  • #178,232
  • May 20, 2009 5:02am May 20, 2009 5:02am
well we are certainly testing the pivot around 148.50 - if this holds then up we go to test the highs, alternativley back doown to 146.60/70 area
  • #178,233
  • May 20, 2009 5:03am May 20, 2009 5:03am
Quoting Galatasaray
i advise the first option. Hedging is for professional traders. It might do you even worse. The worst is you will have a bad sleep at night but it will all be good later. Also since you are new i believe your account should be small so you would not have lost too much money.

You can never learn forex without loosing.
A very, very good advise. I second your opinion. NEVER HEDGE! I've seen a lot, and I really mean a lot of accounts lost because of hedging. Maybe I'm wrong, but recently a friend of mine lost $3.8M of his account because of hedging. It's not easy to hedge. Take galatasaray advise, save it in your mind! LOL!
  • #178,234
  • May 20, 2009 5:04am May 20, 2009 5:04am
Quoting GreekEagle
okay then your so smart tell him how to get out besides closing for a 400 pip lose

Id advise he borrow a few billion and short GY - that way should take the market down and he can recover his 400 pips - simples !
  • #178,235
  • May 20, 2009 5:08am May 20, 2009 5:08am
As for bhanu545, I see no point in holding the short. It's already 400++ pips away. If your money management is the same as mine which only leveraged 2% (max) of your margin, you only lost about 8% of your account, so what you should do is to find a price (try look for a resistance turn support) to cut the position. Happy trading bro..
  • #178,236
  • May 20, 2009 5:10am May 20, 2009 5:10am
Quoting ukdaytrader
in all honesty, no one knows if we'll see 144 again soon, so you have 2 choices:

1. Cut the trade and put it down to experience.
2. Hedge the trade so your exposure to more upside is limited.

If you don't know why your trade went wrong, then you might want to step away from the market until you can read the direction better.

Good luck.
now thats a great move for a newbie hedge what for if you dont have a game plan you will never get out of the hedge so he will end up blowing his account in intrest. I just went in 10 lots at 148.55 so i told him what i already had done. Ask malcomb i call the bottom of 138.99 by 6 pips then called the bottom of 143.43 missed it by a few pips. I only told him what will save his bacon after he asked for advise
  • #178,237
  • May 20, 2009 5:11am May 20, 2009 5:11am
If I was that far up the creek I would now hold and wait to see what happens around 149 - if we go up - close immediately. We may even get a drop and you can recover - after all, its only 50 pips which you have already seen earlier this morning. A lot really depends on your financial circumstances and only you can make that call.

Good luck !
  • #178,238
  • May 20, 2009 5:23am May 20, 2009 5:23am
Quoting GreekEagle
okay then your so smart tell him how to get out besides closing for a 400 pip lose
Don't get ofended greekeagle, but for him to ask what do i do, its obvious he has no plan system or idea of what so ever. if he hedges and the thing turns short, he is then stuck with a long and back to square one. he would not know what to do i think its obvious and hope he does not get ofended with the truth. many of us crossed this path. But i agree with cutting his losses instead of adding fuel to the fire, step back and learn trading, have a system which includes get out plan. And most important if he hangs around this thread, is not to folow blindly. i bet thats what got him in trouble. my last advise would be is work out who to take seriously on this thread if he wants to learn and which pests to ignore. add piters to your buddy list is a start. take note and learn from this man he is the best i've seen. edit: add malcome aswell
  • #178,239
  • May 20, 2009 5:28am May 20, 2009 5:28am
Quoting bhanu545
hello guys.i am short in GJ from 144.3.will it reach that price again in this week??please help me guys.i am a newbie

Ouch! ....my advice is to close the trade and start over... you didn't mention if you were trading live or demo....hopefully, demo, so no worries, right?

I'm sure there's not a trader on here that hasn't made a mistake at one time or the other, just close it and move forward.

Regards, Kenfen
  • #178,240
  • May 20, 2009 5:31am May 20, 2009 5:31am
Quoting Kenfen FX
Ouch! ....my advice is to close the trade and start over... you didn't mention if you were trading live or demo....hopefully, demo, so no worries, right?

I'm sure there's not a trader on here that hasn't made a mistake at one time or the other, just close it and move forward.

Regards, Kenfen
a mistake? try more than one for me
trust me although i am doing good in forex now, the begining was a disaster. loss after loss.
sh.t happens
21 traders viewing now