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

  • #178,241
  • May 20, 2009 5:35am May 20, 2009 5:35am
No trade pls......trend stagnant...wait until NY open
  • #178,242
  • May 20, 2009 5:36am May 20, 2009 5:36am
Very true, I've got my hand raised for membership into the multiple mistakes club...LOL

But, it's a process, I'm hopeful our friend is on demo and not looking at losing real money.

Best to make mistakes with monopoly money in forex.

Regards, Kenfen
  • #178,243
  • May 20, 2009 5:36am May 20, 2009 5:36am
Quoting Galatasaray
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
Agreed!!! During my first year in forex, I lost 30k in the market. Ahaha... TOTAL DISASTER!
  • #178,244
  • May 20, 2009 5:37am May 20, 2009 5:37am
Quoting GreekEagle
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
But you suggested he double up long in the belief GY is going up. It's a cowboy trade, period. It may work, but if it doesn't, the guy gets fried. (Currently >30 pips under as I write). Easy for an Internet poster to offer advice like this without consequence.

I offered 2 options, both are valid ones depending on his experience of hedging.
  • #178,245
  • May 20, 2009 5:40am May 20, 2009 5:40am
as I mentioned this morning.. Dow in negative yesterday, BOE flat,, -> time for a retrace.

Next support is 147.00, which closing bellow 4h Gann would send GY to 144.40

cheers!
  • #178,246
  • May 20, 2009 5:41am May 20, 2009 5:41am
Quoting forexlion
somehow i smell a fish, no trade for me as yet.
i did smell a fish

looks like getting ready to tank instead.
  • #178,247
  • May 20, 2009 5:42am May 20, 2009 5:42am
Quoting A-speculator
Agreed!!! During my first year in forex, I lost 30k in the market. Ahaha... TOTAL DISASTER!
hmmm you must be my twin

im still trying to work out how to recover it all
  • #178,248
  • May 20, 2009 5:42am May 20, 2009 5:42am
Quoting Piters
as I mentioned this morning.. Dow in negative yesterday, BOE flat,, -> time for a retrace.

Next support is 147.00, which closing bellow 4h Gann would send GY to 144.40

cheers!
i can't even pm you ??
  • #178,249
  • May 20, 2009 5:43am May 20, 2009 5:43am
Quoting A-speculator
Agreed!!! During my first year in forex, I lost 30k in the market. Ahaha... TOTAL DISASTER!
That's about a year at a US Ivy League school, isn't it? One way to look at it I guess.

I'm sure you've learned your lessons very well from that, no?

And you didn't give up, even after a devastating amount of loss I think that you're the better for it.

Regards, Kenfen
  • #178,250
  • May 20, 2009 5:46am May 20, 2009 5:46am
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
i have a feeling it was live. By him adding please sounded desperite. who would be on a demo. But another option would be is find a point of stop loss, such as todays curent high if he can aford it. and start exiting lot by lot if it starts heading down.
  • #178,251
  • May 20, 2009 5:46am May 20, 2009 5:46am
Quoting ukdaytrader
But you suggested he double up long in the belief GY is going up. It's a cowboy trade, period. It may work, but if it doesn't, the guy gets fried. (Currently >30 pips under as I write). Easy for an Internet poster to offer advice like this without consequence.

I offered 2 options, both are valid ones depending on his experience of hedging.
The price currently already too high for long imo. No clear direction at the moment but I got a feeling it got to retrace down. Let's hope for 4hr to clear this up.
  • #178,252
  • May 20, 2009 5:47am May 20, 2009 5:47am
Quoting forexlion
i can't even pm you ??
yes you can
  • #178,253
  • May 20, 2009 5:51am May 20, 2009 5:51am
Quoting Kenfen FX
That's about a year at a US Ivy League school, isn't it? One way to look at it I guess.

I'm sure you've learned your lessons very well from that, no?

And you didn't give up, even after a devastating amount of loss I think that you're the better for it.

Regards, Kenfen
Yeah Kenfen, I sure do learned my lesson. I always advise newbie to not look into how much they can make money in forex in their first year. I always tell them to reserved some amount of money instead as their fees for the market. LOL.
  • #178,254
  • May 20, 2009 6:03am May 20, 2009 6:03am
Hey, anyone knows where's karmo? I haven't heard from him for quite some time..
  • #178,255
  • May 20, 2009 6:06am May 20, 2009 6:06am
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

you must have listen to some Guru that shout short from this forum...becareful and trade with proper money management...when u saw buy on the 4hrs candle u short gj....u need to learn more bro......
i only pray for u that it drop today because u will lose so much.
MY OPINION NOT FINANCIAL ADVISE
  • #178,256
  • May 20, 2009 6:08am May 20, 2009 6:08am
Quoting Macedonia
i have a feeling it was live. By him adding please sounded desperite. who would be on a demo. But another option would be is find a point of stop loss, such as todays curent high if he can aford it. and start exiting lot by lot if it starts heading down.
I'm sure it was live. If not, he sure would not been bothered to post here..
  • #178,257
  • May 20, 2009 6:09am May 20, 2009 6:09am
Afternoon guy's , Hope green pips with us today and forever.
  • #178,258
  • May 20, 2009 6:12am May 20, 2009 6:12am
Quoting Obaidah
i suggest that you reconsider the stopping volume you mentioned because many brokers show that the volume was just average, and please do take a look at H1 chart, using the very basic concept of OHLC there appears to be supply, i'll step aside and just wait 'till i get it clear .. hows your vacation btw?
here's the trend map for some pairs that i feel you must keep an eye on.

comment: sorry for those who i've vouched for, i've fallen below the required four-vouch hurdle and so all vouchers done by me have been undone, well, someone got angry because i didnt vouch for him!

good luck
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I recommend you read something else as this sentence is now concluded.
  • #178,259
  • May 20, 2009 6:13am May 20, 2009 6:13am
Quoting Piters
as I mentioned this morning.. Dow in negative yesterday, BOE flat,, -> time for a retrace.

Next support is 147.00, which closing bellow 4h Gann would send GY to 144.40

cheers!
I do think 147 is a logical support and I believe it is time for a retrace unless of course the breakout of this flag in 4hr.
  • #178,260
  • May 20, 2009 6:18am May 20, 2009 6:18am
Quoting Piters
as I mentioned this morning.. Dow in negative yesterday, BOE flat,, -> time for a retrace.

Next support is 147.00, which closing bellow 4h Gann would send GY to 144.40

cheers!
After DOUBLE TOP [149.10] and forming a Descending triangle, on 15 min
a breakout -> retest -> close below DPP

Next move is test of 147.70 after closing below GANN [4h] we are clearing the path to 144.40

A bounce.. would send us back to higher levels.. GU is about to retrace, UY has an expiration contracts on 96.40 today..

So let,s play

[Chart]
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