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

  • #193,201
  • Sep 1, 2009 8:27am Sep 1, 2009 8:27am
Quoting mktjong
You're really a diehard long. How many accts have u blown out since last week?

looooooool man i only traded GU for a week now and still no mistakes in picking entery but targets always miss by 50 pips or so u can go back and check my charts

GJ still no trades until she calm down and be ready for me to ride it

plus how can you blow acc with 17 pips SL !
  • #193,202
  • Sep 1, 2009 8:27am Sep 1, 2009 8:27am
Quoting malcolmb14
major news up in 40 min .... anything could happen
Malcomb, you think they drive it down and then they will buy it at news time?
  • #193,203
  • Sep 1, 2009 8:28am Sep 1, 2009 8:28am
i exit for some pips. I am waiting for the ISM. Usually it moves a lot and I have really bad experience with open position with some profit (30-40 pips). I lost all in 5 mins.
  • #193,204
  • Sep 1, 2009 8:29am Sep 1, 2009 8:29am
Quoting ewokuk
sorry master

hard to close half though, got 4 seperate positions open
Great chance of a bounce here just to mess up all those entering shorts for the re-test.

I'd take some of the profits off the table. You can always re-short if we do break.

Now do it.
  • #193,205
  • Sep 1, 2009 8:31am Sep 1, 2009 8:31am
Quoting OrionsWay
simple answer bro, a market has only 1 function bid/offer where is someone willing to buy and where is someone willing to sell, being a zero sum game the very next order taken makes a winner or loser depending on the next order coming in. The clearing houses see the massive orders and will drive the market accordingly to accomadate the fullsillment of these executions, IF ITS IN ITS BEST INTREST of the dominant orderflow, THEY see all bid/offer, we see NO depth of market, not even a glimpse on the retail side.
What's the advantage/disadvantage of not seeing market depth?
  • #193,206
  • Sep 1, 2009 8:38am Sep 1, 2009 8:38am
Quoting Agaba130
What's the advantage/disadvantage of not seeing market depth?


No advantage at all only disadvantage. for isntance if you seen large sell orders in the 66-6635 area, it would not be wise to sell at 6580, instead place your entry within the cluster of offers and save drawdown, now if you seen even larger sell orders above the 6635 area surely the market will be achieving them so why even sell at 6635, The market only wants to execute orders period, As long as its in the dominant direction of orderflow

By large sell/buy orders i mean not phantom orders that misteriously disappear like in futures, im meaning large block orders in millions/maybe billions that are sent into a market maker to achieve their executions over a period of time. Dont forget this market acquires and disperses roughly 3 trillion daily
"Millionaires don't use astrology, billionaires do"
  • #193,207
  • Sep 1, 2009 8:39am Sep 1, 2009 8:39am
Quoting Agaba130
What's the advantage/disadvantage of not seeing market depth?
market depth is king!!!
If you had it you could pretty much guarantee positive pips for every trade you make.

There was a competition back in our company for by placing phantom trades in the real ASX300 market. Restrictions was that you could only place 20% of your total capital at any given time into 1 stock. $30 brokerage per trade (buy and sell). i turned 50k into 380k in 5 days closed all positions. Scalping small stocks using only market depth information.
  • #193,208
  • Sep 1, 2009 8:40am Sep 1, 2009 8:40am
Quoting Sunny66
Malcomb, you think they drive it down and then they will buy it at news time?
looking at the YM futures it looks like its actually getting marked up, and not down prior to the news.
  • #193,209
  • Sep 1, 2009 8:41am Sep 1, 2009 8:41am
are we seeing markup here now before this news? s+p is flying since the open. or is it genuine buying?
  • #193,210
  • Sep 1, 2009 8:44am Sep 1, 2009 8:44am
Quoting mktjong
You're really a diehard long. How many accts have u blown out since last week?
Quoting msniper
i went long GU 1.6193 SL 1.6175 target later

i hope news will not attack me

so what do u think now my friend ?

40 pips profit until now and the news not even started yet

EW stoploss was 6180 but i changed it to 6175 incase of stupid pins

so 40+ profit until now i would love to move my SL to BE but it doesn't worth it if SL get hit its only 17pips loss it can be recover with few mins
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  • #193,211
  • Sep 1, 2009 8:44am Sep 1, 2009 8:44am
Quoting ewokuk
are we seeing markup here now before this news? s+p is flying since the open. or is it genuine buying?
I hope you took some profit?
  • #193,212
  • Sep 1, 2009 8:45am Sep 1, 2009 8:45am
Quoting Eulogy
looking at the YM futures it looks like its actually getting marked up, and not down prior to the news.
Thanks for the tip, now are you saying there is market depth in forex, where can one obtain it. Sorry for the stupid question I'm just trying to get a grasp of this forex thing if its even possible.
Sunny
  • #193,213
  • Sep 1, 2009 8:47am Sep 1, 2009 8:47am
apparently there is a rumour that ISM is going to come in at 55, much better than forecast and thats causing this jump......supposedly

of course if it doesnt come in at 55 then all those arses driving it up now will suddenly thing oh sh*t and short the crap out of it, making it look like it was markup when realy it was a dodgy rumour. or it may come in at 55 and go flying up even further so someones leaked the data. its all bs either way
  • #193,214
  • Sep 1, 2009 8:48am Sep 1, 2009 8:48am
Quoting ewokuk
are we seeing markup here now before this news? s+p is flying since the open. or is it genuine buying?

gap close es .... that is all for now
Blogging daily now at www.volume.zone
  • #193,215
  • Sep 1, 2009 8:51am Sep 1, 2009 8:51am
Thanks again MK, b/c of you I took my profit at the 30 min pin 150.66.
I sweating here with this thing going up and down.
  • #193,216
  • Sep 1, 2009 8:52am Sep 1, 2009 8:52am
Quoting msniper
i went long GU 1.6193 SL 1.6175 target later

i hope news will not attack me
until now price hit 6247 which is more than 50 pips profit and the news not yet out

SL will be moved to BE

my target is 6390 but we have alot of resistance on the way such as 627 adn 6290 1h gann

so i will see PA and i will book my profit if it failed to go up
  • #193,217
  • Sep 1, 2009 8:53am Sep 1, 2009 8:53am
Quoting Sunny66
Thanks again MK, b/c of you I took my profit at the 30 min pin 150.66.
I sweating here with this thing going up and down.
You're welcome. Thing is going up and down, that's what called a volatility or chance to make dough
Sweating is normal as long as it's not a cold one
  • #193,218
  • Sep 1, 2009 8:57am Sep 1, 2009 8:57am
Quoting msniper
until now price hit 6247 which is more than 50 pips profit and the news not yet out

SL will be moved to BE

my target is 6390 but we have alot of resistance on the way such as 627 adn 6290 1h gann

so i will see PA and i will book my profit if it failed to go up
Well done. I admire your knowledge and planning. I don't know why you dont get as much credit as you deserve around here. Well anyway I really appreciate your posts.
  • #193,219
  • Sep 1, 2009 9:00am Sep 1, 2009 9:00am
@ Eulogy/OrionsWay Market depth,

Can you direct me to where I can get info on how to use this. My broker provides it, I think...

Thanks
  • #193,220
  • Sep 1, 2009 9:06am Sep 1, 2009 9:06am
Quoting Agaba130
@ Eulogy/OrionsWay Market depth,

Can you direct me to where I can get info on how to use this. My broker provides it, I think...

Thanks
Agaba, Sunny. There inherantly is market depth in every market, even forex.

Too bad though as a forex trader, you'll never see it.
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