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

  • #221,241
  • Apr 16, 2010 12:27am Apr 16, 2010 12:27am
Quoting Geppy
Honestly, I don't care... here's why:

Since I took 25% off already instead of holding my entire position I essentially banked pips I wouldn't be getting. Is it worth me "risking" waiting another 10 pips to miss getting my position back on and losing out on the next down move? To some maybe, but to me no. Considering I'd be holding my shorts right now regardless and watching my paper profits dwindle I'd rather take out the 40+ pips in the middle I made on 25% and put it back. As long as I'm putting it back on for 4 pips (the spread) higher than...
Nice strategy, yeah miss trade is really a big lose. Banked pips always a winning way, All the best, pal.
Btw, there is H4 hidden bullish divergence may play out.
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  • #221,242
  • Apr 16, 2010 12:35am Apr 16, 2010 12:35am
Quoting special0nefx
Nice strategy, yeah miss trade is really a big lose. Banked pips always a winning way, All the best, pal.
Btw, there is H4 hidden bullish divergence may play out.
I wouldn't call it a loss rather than a missed opportunity. A "loss" has a bad connotation and psychologically considering a missed opportunity as a loss is extremely damaging. You can't see it that way.

I simply see it as wanting to get my position back on while I feel confident in the direction of the trade. If I never get it back on I still have 75% on and if I get it on but it goes 10, 20, or 40 pips over where I got it back on... well I'm right where I would have been had I left the whole position on but now I'm 40 pips richer.

Makes sense in my mind.
check out my blog: forexmademillionaire dot com
  • #221,243
  • Apr 16, 2010 12:43am Apr 16, 2010 12:43am
Quoting Geppy
I wouldn't call it a loss rather than a missed opportunity. A "loss" has a bad connotation and psychologically considering a missed opportunity as a loss is extremely damaging. You can't see it that way.

I simply see it as wanting to get my position back on while I feel confident in the direction of the trade. If I never get it back on I still have 75% on and if I get it on but it goes 10, 20, or 40 pips over where I got it back on... well I'm right where I would have been had I left the whole position on but now I'm 40 pips richer....
yes, is makes sense to me too and also a good deal. I had been miss a few trade which cost me loss nearly 200+/- pips for each of them, what a really damage loss.
But there is useless to be dull and sad when loss position, because i discover a new will---> "There is always tomorrow and chances"

Actually,just to make me feel better only. In the other word---> "Should grap all gain and get greedy when times come the chances and oppotunity".

When get in position, we in 2nd thinking,
When loss position, nvm we need in 1st thinking only.

Therefore, we will trade in good manner and get more caution on our trade. Just like other senior told us, follow the flow and trade what your chart said.

Geppy, thanks for you explanation here. Is a makes sense to me too. Happy trading
  • #221,244
  • Apr 16, 2010 12:50am Apr 16, 2010 12:50am
Quoting special0nefx
Nice strategy, yeah miss trade is really a big lose. Banked pips always a winning way, All the best, pal.
Btw, there is H4 hidden bullish divergence may play out.
Look at where the price retraced to and draw a line from your original divergence point. It can be considered played out IMO. Not saying it won't retrace more, only that the divergence is no longer valid.
  • #221,245
  • Apr 16, 2010 12:55am Apr 16, 2010 12:55am
Quoting ukdaytrader
Look at where the price retraced to and draw a line from your original divergence point. It can be considered played out IMO. Not saying it won't retrace more, only that the divergence is no longer valid.
Can you edit and show it on my chart? so that i can know the correct way draw it?
Sorry about it.
  • #221,246
  • Apr 16, 2010 12:55am Apr 16, 2010 12:55am
Quoting england33
I told you guys the dow would never go back below 8k again. not soon anyway (I said that way back when). I just had to bring that up because I remember it was here I was told I don't know what i'm talking about and we were throwing punches at each other. I guess I apparently do know what I'm talking about and I also said dow would go through 11k sometime this year and yet again this "unseasoned trader" is completely right. I was completely right with the bull scenario. Let's see looks like dow is much higher than 11k and many were saying...
Some pretty significant bearish divergence that needs to play out on Dow and S&P. ES for example has bearish divergence which could take it back below 1000.

The million $ question is when?
  • #221,247
  • Apr 16, 2010 1:12am Apr 16, 2010 1:12am
Quoting special0nefx
Can you edit and show it on my chart? so that i can know the correct way draw it?
Sorry about it.
No need for an apology. lol

Here's a chart indicating how I read divergences. White lines indicate the bullish divergence, that is correct. BUT the price then retraced to a level where the divergence line would have been drawn differently, (yellow line). Remember, we need to look at the present situation rather than what was previously seen. The play-out area, (org box), was hit.

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There are lots of different ways of reading divergences, but this seems to work for me.
  • #221,248
  • Apr 16, 2010 1:17am Apr 16, 2010 1:17am
Quoting ukdaytrader
No need for an apology. lol

Here's a chart indicating how I read divergences. White lines indicate the bullish divergence, that is correct. BUT the price then retraced to a level where the divergence line would have been drawn differently, (yellow line). Remember, we need to look at the present situation rather than what was previously seen. The play-out area, (org box), was hit.

Attachment

There are lots of different ways of reading divergences, but this seems to work for me.
Oh i see, really clear now. Nice explaination master. thank you, will take notes it. Lucky you spotted my mistake. , only i can correct it. If not can makes ppl loss trade, then will be a serious case for me. . TQ, uktrader
  • #221,249
  • Apr 16, 2010 1:20am Apr 16, 2010 1:20am
rising wedge broke down.
road to 142, 141?
ty for comments
good trading
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  • #221,250
  • Apr 16, 2010 1:54am Apr 16, 2010 1:54am
2yr TSY yields has dropped 6.9 bps this Asian session and broken back below 1%. Currently sitting on 99.18 bps
  • #221,251
  • Apr 16, 2010 1:59am Apr 16, 2010 1:59am
OK, I have started building longs now. 142.50 is close enough to 141 for me to start building long.

The downward spikes are finally getting bought up really fast and this has been a long move down.

Well played bears!
  • #221,252
  • Apr 16, 2010 2:09am Apr 16, 2010 2:09am
Quoting Cod
OK, I have started building longs now. 142.50 is close enough to 141 for me to start building long.

The downward spikes are finally getting bought up really fast and this has been a long move down.

Well played bears!
Yes, it's been a pretty big move, but there's nothing to say we stop here. I think continuation rather than full retrace, but we'll soon know.
  • #221,253
  • Apr 16, 2010 2:11am Apr 16, 2010 2:11am
All I know is the bull is back out of hiding and is buying hard against the new moves. I know when I am on the other side of this it almost is always a good time to TP so I think it is worth putting in some positions to at least pick up some retrace.

Agreed though yes, it will take some very strong bullishness to not want to sell at the early fibs if any retrace happens.

When you start seeing 30 40 pip candle wicks pointing away from a long run that is a time i like to try to get in the game.
  • #221,254
  • Apr 16, 2010 2:13am Apr 16, 2010 2:13am
Quoting ukdaytrader
Yes, it's been a pretty big move, but there's nothing to say we stop here. I think continuation rather than full retrace, but we'll soon know.
I would echo that. It has been quite some time since i've seen such a huge move in the 2yr yields during the Asian session which suggests there is significant interest in winding down on risk. Witching Friday will also emphasise any potential move.
  • #221,255
  • Apr 16, 2010 2:17am Apr 16, 2010 2:17am
As long as we stay below 143.50 on the retracement we should be looking for a target of 141 but from there it will depend... If that breaks then I am looking at 139.50 and 138.50-70 area's...

So on every retracement that doesn't break on my dealer charts I will sell until the UTL is broken....
Traderdesk -
  • #221,256
  • Apr 16, 2010 2:59am Apr 16, 2010 2:59am
Quoting mani24
my dear becareful...im...
You "sound" familiar.

best regards and "good luck"
  • #221,257
  • Apr 16, 2010 3:03am Apr 16, 2010 3:03am
Quote
my dear donot worry we will break everything just wait many pips is coming just wait just wait im looking gbpjpy well below 130yen in week or 1month.....we will break every key supports....but trade with ur mind.....isaid above 145 impossible...ithink just short short short and short and sleep no need look charts no worry.....happy trade,best regards

yup....you sounds as crazy as mushy....adding another id to my ignore list....
  • #221,258
  • Apr 16, 2010 3:11am Apr 16, 2010 3:11am
Quoting Eulogy
Hey fullhouse/Gucc/Zweig whatever you fancy being called at this time of the day. Why did you delete that disparaging and pompous post where you labelled Geppy as a wannabe and boasted about having 10 yrs worth of fulltime experience. Can the FF community take the retraction as an official disclaimer and that you were completely bullshitting earlier on?

PS. CADJPY just pierced your 78.6 support.

lol..multiple names he will soon come with swagger..lol
MY OPINION NOT FINANCIAL ADVISE
  • #221,259
  • Apr 16, 2010 3:38am Apr 16, 2010 3:38am
Quoting Cod
OK, I have started building longs now. 142.50 is close enough to 141 for me to start building long.

The downward spikes are finally getting bought up really fast and this has been a long move down.

Well played bears!
I hope you're prepared for another 400-700 pip draw down
check out my blog: forexmademillionaire dot com
  • #221,260
  • Apr 16, 2010 3:38am Apr 16, 2010 3:38am
Quoting mani24
.Market is waiting I think and judging from the situation in greece (I live there as you know) things are getting worse day by day here. GL
didnt you live in Japan couple days ago>?
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