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

  • #191,941
  • Aug 27, 2009 1:24am Aug 27, 2009 1:24am
Quoting Raza

CScheat...This Time try not using Stop Loss..
Wow !!! no stop loss means no Money Management right ??? i have good discipline in Money Management....
Trading Forever !!!
  • #191,942
  • Aug 27, 2009 1:26am Aug 27, 2009 1:26am
Quoting cscheat
Wow !!! no stop loss means no Money Management right ??? i have good discipline in Money Management....
I was just ...

SL is a must... though I dont use them..Try working on your entry..

I repeat this G/N is Crazy..by mistake I entered a trade wow..took me for a ride of -1000 + PIPS IN no Time..was trading Bigger lots too..
Markets are not Random, they are designed!
  • #191,943
  • Aug 27, 2009 1:31am Aug 27, 2009 1:31am
Quoting ewokuk
queecee is still short from 163, hes got squillions of pips now! need to ask him for a few

i see little resistance between here and 147 so i might try and just hold this short from 152.05 until we get there hmmm. nope that didnt take long, gu bounced from 6200 and gj spiked up too and took me out for 20 hehe

Well GJ is now below your 152.05, so maybe go for it. Had to move my SL higher when the spike appeared. HPI m/m 1.6% from 0.6% now wondering it it was a good idea. Still holding my short though 151.72 (placed it without considering news )
  • #191,944
  • Aug 27, 2009 1:32am Aug 27, 2009 1:32am
[quote=Raza;2996760]
Quoting Eulogy

This Currency is Crazy...Crazy spread G/N.... Mostly Dojis AND Hammers..

How one can scalp here..Better for swings....

CScheat...This Time try not using Stop Loss..
thinking about longing it nowadays. previously caught it short at 2.42 and rode that beast for a few thousand pips
  • #191,945
  • Aug 27, 2009 1:32am Aug 27, 2009 1:32am
[quote=bill77;2996602]
Quoting PandoraBox
50 pips is fine if you know where and when to put it. But as Grashid said, must take profits earlier because eventualy it will get stoped. But i will also say this, i would rather 50 pips than 200 pips SL when i get it wrong.
stop losses are for the weak ....lol ....(just kidding)
Blogging daily now at www.volume.zone
  • #191,946
  • Aug 27, 2009 1:33am Aug 27, 2009 1:33am
Quoting cscheat
Wow !!! no stop loss means no Money Management right ??? i have good discipline in Money Management....
If u r constant with yr sl & tp let say u trade 10, if u r rite 5 times & wrong 5 times. U r still in green bro. Cheer!
  • #191,947
  • Aug 27, 2009 1:36am Aug 27, 2009 1:36am
[quote=Raza;2996760]
Quoting Eulogy

This Currency is Crazy...Crazy spread G/N.... Mostly Dojis AND Hammers..

How one can scalp here..Better for swings....

CScheat...This Time try not using Stop Loss..
day trading very easy in this market .. wait for retrace then sell .... nothing hard about it. I have given several ideas where and when to short over last few days for intraday trades

if going long and fighting trend then day trading is hard ... you will lose on 9 trades out of 10
Blogging daily now at www.volume.zone
  • #191,948
  • Aug 27, 2009 1:37am Aug 27, 2009 1:37am
I stop using stop loss for GBPJPY too...works wonder for me...but only for this week i think. It range quite a lot this week so it swing back to where i wanted it to having stop loss at 200 pips, and checked out stop loss when news is release. Now i read chart mostly, getting news from people in here and trade by try not to sit in front of the computer all the time because the volatility can freak u out with this pair O.o. Won 200 pips for the week trying to scalp 10 pips here and there and 40 pips occasionally..
  • #191,949
  • Aug 27, 2009 1:37am Aug 27, 2009 1:37am
thanks for advice guys,

i figure out SL of 50 is not the problem here... problem is my entry points...

should i go back to page 1 of this thread and start reading?

however, i made another Short entry at 151.80 again with 100pips SL ... we'll see how !
Trading Forever !!!
  • #191,950
  • Aug 27, 2009 1:40am Aug 27, 2009 1:40am
[quote=Eulogy;2996787]
Quoting Raza

thinking about longing it nowadays. previously caught it short at 2.42 and rode that beast for a few thousand pips

Ya it would be a good long...I saw Hourly Chart and shorted 10 lots..did not see the spread..-200 RIGHT THERE..THEN IT TOOK ME 80 + PIPS NEGATIVE AGAIN...SO IN half an Hour Iam negative 1000 pips... That was crazy...Here we had waited G/J for 2 weeks to do 1000pips..

Well got out gave them $54xx Dollars only...

15M just made a Beautiful looking inverted shampoo..BTW.. we are talking G/N..

YA LONG WOULD BE REALLY GOOD HERE..
Markets are not Random, they are designed!
  • #191,951
  • Aug 27, 2009 1:45am Aug 27, 2009 1:45am
Speaking of SLs I think these should be seen in a more comprehensive way from the vantage point of the trading system. When I had small margins I trades with 35-40 SL on GJ with 50 TP and mid size leverage.

With bigger margin SL of 100 or more is good since the time frame is also longer.

Most people suggest EU for newbies I found GJ more to my liking, to every man his own I guess

@ ewokuk yeah thats funny. But remeber BoE has huge deficits
  • #191,952
  • Aug 27, 2009 1:46am Aug 27, 2009 1:46am
Quoting cscheat
thanks for advice guys,

i figure out SL of 50 is not the problem here... problem is my entry points...

should i go back to page 1 of this thread and start reading?

however, i made another Short entry at 151.80 again with 100pips SL ... we'll see how !
YOU LIKE TAKING RISK OR LIKE BREAK OUT TRADING..

IF SOME SAID THIS IS GOING TO 150.. IT MIGHT NOT GO THERE IN STRAIGHT LINE OR NEVER...BEFORE IT GOES TO 150... IT MIGHT GO TO 153 FIRST... WHAT ARE YOU GONNA DO THEN????

Again work on your entry..Reading Pages from the beginning might not help..and also Control your Trigger Finger.. Take lots of Patience PILLS. Also amount of lots should be according to your ACCOUNT..
Markets are not Random, they are designed!
  • #191,953
  • Aug 27, 2009 1:50am Aug 27, 2009 1:50am
Quoting cscheat
thanks for advice guys,

i figure out SL of 50 is not the problem here... problem is my entry points...

should i go back to page 1 of this thread and start reading?

however, i made another Short entry at 151.80 again with 100pips SL ... we'll see how !

If you are new to GJ try entering only on break out and go for 50 TP makes 9 of of ten. JUST A SUGGESTION. 40 SL will work wonders too

I always give myself the option to move it when I believe the move will reverse in my favour, so almost like having no SL
  • #191,954
  • Aug 27, 2009 2:01am Aug 27, 2009 2:01am
I saw bullish divergence on H1 and M15 and M5 anyone see the same thing as me ? and anyone up for long now ?
  • #191,955
  • Aug 27, 2009 2:02am Aug 27, 2009 2:02am
Quoting Agaba130
If you are new to GJ try entering only on break out and go for 50 TP makes 9 of of ten. JUST A SUGGESTION. 40 SL will work wonders too

I always give myself the option to move it when I believe the move will reverse in my favour, so almost like having no SL
so what happens when you are absolutely certain it will reverse in your favour......and it keeps going, and going and going? you get killed lol. ive done that enough times, certain that i am right and the market is wrong, and it never stops until you dead.

ive spent this entire week getting whipped out for 1 pip on almost every trade. had a 13 pip loser, a 10 pip loser and last night a 30 pip loser. sound like a bad week? I just took a 20 pip winner and a 50 pip winner and within half an hour ive made back the previous 3 days losses because i kept those losses as small as i could (and this is something new for me lol).

now i have the chance to end the week in a decent profit if the rest of today and tomorrow goes ok, instead of sweating over 50+ pip losses, or even sweating over a long from somewhere higher up thats now gone bad.

as soon as you think you MIGHT be wrong and it starts going the wrong way, cut it and wait for next. or you do what ive done dozens of times and let it go just more than you are comfortable with, and because its just more, you dont want to close it and take that loss, you want to hope it comes back instead....then it goes a bit further still and you REALLY dont want to take that loss, so you wait even longer. eventually you dead and wondering why you didnt just cut it in the first place because instead of sweating for ages then being killed, you could have been looking for new entries.

im looking for some sort of retrace before i take anymore shorts now. probably end up waiting till the news in hour and half before i go for anymore.
  • #191,956
  • Aug 27, 2009 2:03am Aug 27, 2009 2:03am
Quoting Raza
YOU LIKE TAKING RISK OR LIKE BREAK OUT TRADING..

IF SOME SAID THIS IS GOING TO 150.. IT MIGHT NOT GO THERE IN STRAIGHT LINE OR NEVER...BEFORE IT GOES TO 150... IT MIGHT GO TO 153 FIRST... WHAT ARE YOU GONNA DO THEN????

Again work on your entry..Reading Pages from the beginning might not help..and also Control your Trigger Finger.. Take lots of Patience PILLS. Also amount of lots should be according to your ACCOUNT..
long at weekly S2
  • #191,957
  • Aug 27, 2009 2:09am Aug 27, 2009 2:09am
Quoting mrfxbaling
long at weekly S2
i think you trying to catch a falling knife. seems little support between here and 147, could easily be at 147 before end of tomorrow depending which way the news goes until then. im not taking ANY longs with a downtrend this strong and seemingly getting stronger, unless theres a very convincing double bottom.
  • #191,958
  • Aug 27, 2009 2:12am Aug 27, 2009 2:12am
Quoting mrfxbaling
long at weekly S2

My friend must be thinking what went wrong here..taken a short from 151.60...

I am sitting on My HANDS,,,,
Markets are not Random, they are designed!
  • #191,959
  • Aug 27, 2009 2:18am Aug 27, 2009 2:18am
Quoting ewokuk
so what happens when you are absolutely certain it will reverse in your favour......and it keeps going, and going and going?...

You answered your own question.

I have been in this quagmire too, what I do is, I initially set small TP-50 pips, when I miss the first time round and have to move SL, I do.

Since I only take trend directions on break outs, chances are high it will return to my price(at least). At that time if I move out or stay put.

Works for me. (don't be afraid to admit you are/were wrong)
  • #191,960
  • Aug 27, 2009 2:18am Aug 27, 2009 2:18am
Quoting cscheat
Guys !!! latest update..... This week 4 trades all hit SL ! i only trade once per day... every trade i put 50pips SL ...


Mon = hit SL (1% of my acc)
Tues = hit SL (1% of my acc)
Wed = hit SL (1% of my acc)
Thur = hit SL Again ! (1% of my acc)
Friday = ???
[quote=PandoraBox;2996592]
Quoting Eulogy

Question though, if you are playing with such a low leverage why are you using a 50 pip SL???[/quote]

You need to ask cscheat I also want to know why he using 50 pips SL. If you trade GJ with SL 50 pip....anytime you can get burn.

GJ is Volatile pair... normal up and down ...200 pips...
Quoting cscheat
wow ! i hope there will be no rebounce
~152.30-152.50


Quoting cscheat
that will hit my SL ! i short at 151.80... set stop loss at 152.30
better adjust slighly higher..u will see soon...cheers

Quoting cscheat
pandora, i don't know should i closing my position now or change my SL...
u r joker...no need..take out ur SL.and just set ur TP


Its already paid for you...Cheers
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