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

  • #223,841
  • May 7, 2010 3:32am May 7, 2010 3:32am
yeap... too many people were on the right side. more and more of us are becoming skilled and this trading business must come to an end soon...

Quoting ukdaytrader
This is actually a really good point. And lends weight to the shake-out-then-buy theory.

130 could indeed be the bottom, though I think we'll retest somewhere near there at some point before going higher.
Nihil Sine Deo.
  • #223,842
  • May 7, 2010 3:38am May 7, 2010 3:38am
http://www.forexfactory.com/showthre...40#post3668440

....
Markets are not Random, they are designed!
  • #223,843
  • May 7, 2010 3:44am May 7, 2010 3:44am
Quoting Scrat
yeap... too many people were on the right side. more and more of us are becoming skilled and this trading business must come to an end soon...
I've been thinking this myself. What happens when the whole trading world become TA proficient? Good ole Gann, Stocs, MACD etc can't work for ever. There have been more instances of market shenanigans this past year or so where chart reading is ruled completely useless due to market manipulation.

First step, no hedging, then leverage reduction, transaction tax next? And in between, we'll get ridiculous days like yesterday which only make sense to the people pushing the buttons.

Makes me think I need to diversify into something less volatile in the next year or so.
  • #223,844
  • May 7, 2010 3:52am May 7, 2010 3:52am
Quoting Scrat
how come this error was not to the upside... :nerd:
1. to change the rules, or put more pressure on Wall Street, they need Goldman Sachs Soap Opera.. to show how "primary brokers" are not responsible. and gain public support
2. to change the rules on High freq. trading , and Algo or computer trading business, they need somthing like this happen, to show how someone can destroy whole system with a press on a "red button"

===============================
IMHO - this is only a show.. for public.. just to have an excuse to put more preasure and contol on markets..

so , next time Scrat, when you are shorting , - please post here on FF then you are long, or someone from SEC will visit your trading desk.. only b/c you are shorting...

=============================================
bottom line:
=============================================

Error,, fat finger? that cannot pass in public .. I mean those markets are there for years.. and changing million shares per hour, changing hands Billion of dollars. I cant accept the simple explanation for some stupid mistake to crush the market 1000 point.. in 30 min.. ? we've been there.. YOU cant sell if someone is not BUYING..

and another thing ... where were the primary brokers yesterday
to buy back, (usually they rest at some S/R level) - no one took any trade.. no single retracement..

this is only a SHOW.. second to LAST..
=======================================

we go UP.. for a new high in DOW and S&P. and then we collapse.. but this time no error.. just in few months.. from now.. this was a probe test [IMHO]

cheers..

============================================================
My Apologies for my "perfect" Oxford English" - sorry guys.. doing my best
============================================================
  • #223,845
  • May 7, 2010 3:54am May 7, 2010 3:54am
I'm outta this game until next week. I was extremely lucky in that my new account (which I set up specifically for GBPJPY) started up on Wednesday so I got a good few pips, but I slightly panicked on 2 longs at 137@ and 134 so I waited until late last night and took a small loss so i could close all positions and sleep sweetly I'll be watching today with interest.

Just some thoughts:

I wonder if the fat finger worked for Goldman Sachs?

Am I going to look at GBPJPY again and see a protental 300 gain and say "No, it's only 300 pips! I'll wait for a better 1000 pip movement."

What's the Japanese going to do with all the hugely (now) expensive exports?

How many Forex brokers are going to find they have half the number of clients today.
  • #223,846
  • May 7, 2010 3:57am May 7, 2010 3:57am
Quoting Piters
2. to change the rules on High freq. trading , and Algo or computer trading business, they need somthing like this happen, to show how someone can destroy whole system with a press on a "red button"
It's really up to the DOW or the NASDAQ to protect themselves. The governments won't protect them from Algo trading. There's many places to Algo trade, the Nikkei, the banks, ect - Which will in turn affect the markets as a whole. If companies don't want to be listed on the stock market, they should leave, or if they have gripes, they should take it up with the market makers. Enough said.
  • #223,847
  • May 7, 2010 4:03am May 7, 2010 4:03am
Quoting Clouds
It's really up to the DOW or the NASDAQ to protect themselves. The governments won't protect them from Algo trading. There's many places to Algo trade, the Nikkei, the banks, ect. If companies don't want to be listed on the stock market, they should leave. Enough said.
I agree, they dont understand that algo trade, or HFT is nothing else then busting liquidity on markets. We are doing the same here, with Intra day trading.. no difference between algo- HFT and Intraday trading or scalping with or without EA

The problem is that 95% are losers, ans so far they only bust the liquidity.. but HFS and ALGOo is nothing different then EMA crossover or flipping the GANN Hi-Lo.

the moment we fix the procentage from 95% losers to 50%, then we are going to be "regulated" too..
  • #223,848
  • May 7, 2010 4:07am May 7, 2010 4:07am
Quoting Piters

Error,, fat finger? that cannot pass in public .. I mean those markets are there for years.. and changing million shares per hour, changing hands Billion of dollars. I cant accept the simple explanation for some stupid mistake to crush the market 1000 point.. in 30 min.. ? we've been there.. YOU cant sell if someone is not BUYING..

My understanding of the computer system makes this impossible. I work in IT. There are safety nets that refuse transactions if they don't fall with certain perimeters.

By missing out a few numbers, the system should have calculated this was a mistake. Anyone who knows about SQL and banking tansactions will "probably" agree.
  • #223,849
  • May 7, 2010 4:12am May 7, 2010 4:12am
Quoting Jake Snake
My understanding of the computer system makes this impossible. I work in IT. There are safety nets that refuse transactions if they don't fall with certain perimeters.

By missing out a few numbers, the system should have calculated this was a mistake. Anyone who knows about SQL and banking tansactions will "probably" agree.
my point too.. those softwares are not Open Source, so you can download from net..

that's makes whole thing "fishy"
  • #223,850
  • May 7, 2010 4:31am May 7, 2010 4:31am
UJ is just chilling around the 92 figure. Looks like it may want to wait until US opens to move. G/U moving down
  • #223,851
  • May 7, 2010 4:32am May 7, 2010 4:32am
We are on our way to 131.50 I am up by 170 pip and the trailing stop is going nicely.
  • #223,852
  • May 7, 2010 4:45am May 7, 2010 4:45am
She is angry. Moving up 150pips by seconds
Read the entire market, money is made on the main trend not the fluctuation
  • #223,853
  • May 7, 2010 4:46am May 7, 2010 4:46am
Quoting Kofmaster
She is angry. Moving up 150pips by seconds
GU moved up but seems like it was nothing
  • #223,854
  • May 7, 2010 4:52am May 7, 2010 4:52am
Quoting Clouds
GU moved up but seems like it was nothing
Sry I wasn't monitoring GU. But why there so much bounce on GU? did GU hit a support?
Read the entire market, money is made on the main trend not the fluctuation
  • #223,855
  • May 7, 2010 4:53am May 7, 2010 4:53am
http://www.forexfactory.com/attachme...1&d=1273071978

Quoting Kofmaster
Sry I wasn't monitoring GU. But why there so much bounce on GU? did GU hit a support?
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #223,856
  • May 7, 2010 4:54am May 7, 2010 4:54am
Quoting 45Condor
http://www.forexfactory.com/attachme...1&d=1273071978
if that breaks, umm, hello 120 GJ?
  • #223,857
  • May 7, 2010 5:19am May 7, 2010 5:19am
Still Bearish !


Then Bullish !




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Attached Image (click to enlarge)
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  • #223,858
  • May 7, 2010 5:47am May 7, 2010 5:47am
i think this weekend is to scary to leave any orders in... a 200 - 400 pip gap is not much for this weekend ..
  • #223,859
  • May 7, 2010 5:50am May 7, 2010 5:50am
i just uploaded this pic i took, to my computer, it's irrelevant, but thought i'd post it, it could be too big

Attached Image (click to enlarge)
Click to Enlarge Name: IMG00011-20100503-0936.jpg Size: 293 KB
  • #223,860
  • May 7, 2010 6:07am May 7, 2010 6:07am
Quoting fullhouse
i think this weekend is to scary to leave any orders in... a 200 - 400 pip gap is not much for this weekend ..
A gap of 200-400 pips last weekend would have looked enormous and outrageous, today, after a 1200 pip movement, it's chicken feed, it looks small and worthless!

The last 90 minutes have produced 270 pips in the SAME direction but I'm scared to even scalp it! LOL.

Crazy.
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