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

  • #229,441
  • Jul 21, 2010 7:51am Jul 21, 2010 7:51am
Quoting special0nefx
H4 gann not hold it. Visit 130.xx~131.xx again.
As i wrote upside ,... thx for confirmation
  • #229,442
  • Jul 21, 2010 7:53am Jul 21, 2010 7:53am
Quoting kourtney
Geppy 450 minis is 45 standard = $4500 actualli a bit more since value per pip is 1.15...

gotta love ppl who think everybody is small

now once my shorts are close i had triger 950 minis as u call them on the way up so around $9500 plus not 450 downand 450 up...its 450 down and then 950 up amigo...Are we clear now?
I would never trust my money with a so called "professional money manager" that can't do simple math.

Let me break it down for you:

- In your last post you spoke of approximately a 100pip move

- As you stated the ride down would have been worth $4,500 on your "450 lots"

- Simple math that even a moron could do shows that's the equivalent of $45 per pip ($4,500/100pips = $45/pip)

- We know that 1 MINI lot has a value of approximately $1/pip.

- Since you stated $4,500 on a 100pip move on "450 lots" and $9,500 on the same 100pip move back up on "950 lots" it's quite easy to see these are not equal to "45 standard" and "95 standard" lots as you stated above.

- One standard lot nets approximately $10/pip... therefore, 45 standard lots would net $450/pip

- In case you didn't know (and judging by your above post you obviously don't) $450*100pips = $45,000 NOT $4,500 as you have clearly stated multiple times

It's easy to see you are trading 45 mini lots and not standard lots. Don't try and tell me I misread your misleading post when you've obviously made an error multiple times. Since your expected profit on 100 pip move was $4,500 on "450 lots" and $9,500 on "950 lots" you are obviously trading a micro account as the only way you can realize these stated gains is by netting $1/pip.

Now shut up and find a way to get me the last 5 minutes of my life back.

Pathetic.
check out my blog: forexmademillionaire dot com
  • #229,443
  • Jul 21, 2010 8:02am Jul 21, 2010 8:02am
Quoting Beljevina
Trying a 133.7 short - if BE occurs, may look for shorts up to 134.2 - ... US earnings are fated to have more bad and poo-poo news than good, so the melt-up can only last for so long. I'd be very cautious with longs tomorrow 10am EST, as Ben is grabbing the microphone. Am thinking back many months to whenever he spoke the markets reacted - we might see the same tomorrow.
I swear I heard some talking head mention it was 10am, but obviously it's a 2pm EST event, as it's most often tended to be.

I love fibs. Look how wonderfully they line up, and perfectly they are adhered to; sure, that's because I'm not the only one trading & watching them - and thank goodness that's so.

It's bounced at 50% of the previous day's London drop, we then had a run-up from pre-NY right into late NY, and it's now given back 62% of that move. I'd been reading everywhere about sterling strength ... yeah right. Heck, even the commodity currencies are clobbering it. (they said those were weak too - if Ben poo poo's the economy, they certainly will decline)

I'm expecting another DPP visit perhaps even higher, and then Ben might help us get to my interim 130.5 target.

Looks like a pump and dump all over the hourly GY chart, with clear distribution occuring. Fat Dutch finger or a bad algo on that 100 pip M1 pre-FTSE open plunge? Me thinks probably not. If we get to 130.5 in the next days and lower as I expect, we'll have to conclude wiseness on the part of the Dutch.

Quoting Articulate
There is a lot of wishfull thinking on this site. Here is the position of the market at this time. We have been trading within a range between 136..xx and 130.xx for sometimes now. It can go either way until we break clearly out of the current tight range. Will it be 148 or 123 I don't know.

What I know based on the chart below is that we have to clear 136.xx to confirm an upward move and 130.xx to confirm a downward move. Until then, any prediction is mere speculation.
I don't think your TLs are drawn completely correctly, and, you do realize that choosing the TL points like you have, that, GJ could in theory go on forever. What is key though, is that we are ranging, with lower highs for quite sometime (on the key higher timeframes), and checking in with lower lows on the medium-term timeframes.
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  • #229,444
  • Jul 21, 2010 8:10am Jul 21, 2010 8:10am
Quoting Geppy
I would never trust my money with a so called "professional money manager" that can't do simple math.

Let me break it down for you:

- In your last post you spoke of approximately a 100pip move

- As you stated the ride down would have been worth $4,500 on your "450 lots"

- Simple math that even a moron could do shows that's the equivalent of $45 per pip ($4,500/100pips = $45/pip)

- We know that 1 MINI lot has a value of approximately $1/pip.

- Since you stated $4,500 on a 100pip move on "450 lots" and $9,500 on the same 100pip...
no amigo you shut up u are nothing but an idiot and I woudnt trade for somebody like you even if my performance compensation were 80%

mini and micro are concepts that change from broker to broker not everybody has micros mine has minis only...

now there u have ur 5 minutes back...the account I trade is a PAMM account so u woudn not understand crap...

besides who u think you are...ive seen plenty of posts and yours are quite lame.. Killer, belje, Uk trader mannawii and many more those dude are the real traders here... go to ur corner and trade ur micro or whatever u trade...

now I understand why nobody likes you dude
  • #229,445
  • Jul 21, 2010 8:17am Jul 21, 2010 8:17am
Quoting kourtney
no amigo you shut up u are nothing but an idiot and I woudnt trade for somebody like you even if my performance compensation were 80%

mini and micro are concepts that change from broker to broker not everybody has micros mine has minis only...

now there u have ur 5 minutes back...the account I trade is a PAMM account so u woudn not understand crap...

besides who u think you are...ive seen plenty of posts and yours are quite lame.. Killer, belje, Uk trader mannawii and many more those dude are the real traders here......
So you just mentioned a bunch of posts that I never wrote... great job. I don't even trade USD/JPY so why would I say anything about it going to 89??!!?!?!

Everyone notices that you didn't attempt to dispute the obvious math and you're the only one here that's calling a "standard" lot the equivalent of $10,000 in currency position. Even the most amateur knows that's referred to as a mini.

If you're going to make stuff up about being a trader, at least do some reading so you get the most basic terminology correct.

I pity you, you're almost as pathetic as Gucc.

I won't reply any further as it's obvious a waste of time and your lies are well exposed.

But feel free to waste more of your time
check out my blog: forexmademillionaire dot com
  • #229,446
  • Edited 8:35am Jul 21, 2010 8:23am | Edited 8:35am
Quoting Geppy
So you just mentioned a bunch of posts that I never wrote... great job....
Not knowing the definition of a standard lot doesn't make any difference to his credentials. I was trading for a lot of years before I even realized that a standard lot was 100K units.

Fact is most brokers trade 10K lot sizes as the norm and never refer to it as "mini." They only do this if they trade in 100K lot increments. So he is correct in that it depends completely on the broker and what size is their norm. If he hasn't had experience with brokers like that then there would be no reason for him to know.

Moreover, there is no standard test given for someone who manages money unregulated so he doesn't need to know some arbitrary concepts to qualify as one. The only measure that means anything is how well he does for his clients.
  • #229,447
  • Jul 21, 2010 8:47am Jul 21, 2010 8:47am
Closed my long -40 .
  • #229,448
  • Jul 21, 2010 8:48am Jul 21, 2010 8:48am
Hi G
my view same as yours , looking in the afternon at H4 candles closes seem that long setup is active and 14* in target but im out home now.
1H and 15m from now and lets see what 1H candle bring to us, I am just watching today as chart look difcult to me since last night.
Good luck
Quoting grashid
oo really ? how about 133.30-133.80-134-134.60....

good luck son..

chow
  • #229,449
  • Jul 21, 2010 8:53am Jul 21, 2010 8:53am
Quoting Geppy
So you just mentioned a bunch of posts that I never wrote... great job. I don't even trade USD/JPY so why would I say anything about it going to 89??!!?!?!

Everyone notices that you didn't attempt to dispute the obvious math and you're the only one here that's calling a "standard" lot the equivalent of $10,000 in currency position. Even the most amateur knows that's referred to as a mini.

If you're going to make stuff up about being a trader, at least do some reading so you get the most basic terminology correct.

I pity you, you're...
awww poor you bla bla pity bla bla

nobody likes you dude...no wonder why u talk crap out of ur sorry trader ass...terminlogy or not ur posts are lame
  • #229,450
  • Jul 21, 2010 8:54am Jul 21, 2010 8:54am
You guys are hilarious!!!
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  • #229,451
  • Jul 21, 2010 8:57am Jul 21, 2010 8:57am
Quoting kosai
Not knowing the definition of a standard lot doesn't make any difference to his credentials. I was trading for a lot of years before I even realized that a standard lot was 100K units.

Fact is most brokers trade 10K lot sizes as the norm and never refer to it as "mini." They only do this if they trade in 100K lot increments. So he is correct in that it depends completely on the broker and what size is their norm. If he hasn't had experience with brokers like that then there would be no reason for him to know.

Moreover, there is no standard...

BINGO! THNKS KOSAI

I trade with Uk regulations that way I can still use hedging capabilities
last 6 months I average between 7 and 34% monthly after performance compensation taken so... all is cool so far and hopefully will stay that way...!!

Good luck to all of you the REAL non conflictive jealous and envious traders ptrrrrrrrrrr
  • #229,452
  • Jul 21, 2010 9:10am Jul 21, 2010 9:10am
Quoting honeybhi
1.57 and then Monthly 20 ema.
I'am not seeing those targets.I 'am seeing more downside,daily turning to bearish ,more downside expected to come .I will look to sell from now on.Good luck all.
  • #229,453
  • Edited 10:12am Jul 21, 2010 9:51am | Edited 10:12am
Quoting Beljevina
I'm expecting another DPP visit perhaps even higher, and then Ben might help us get to my interim 130.5 target.
Another checkpointed 35 pip rise to my charted DPP, and a textbook rejection. Odd thing is, everyone has slightly different DPPs, and although I think the one used by my indi on the GY chart are off/wrong, they apparently fit some big boy's timezone, because they (and other fibs) get hit more often than not.

So now the market waits. We wait for Ben. GJ ranges, S&P parks. Is the USD downside priced in? I think not. Am thinking back to earlier months where Ben & company have spoken and a afternoon dollar selloff translating to a few hundred GJ pips has ensued - that fall from the 141.x to 139.2/.4 is a hugely popular one - it happened earlier this year and happened US Thanksgiving last year too - I wonder if 129.5 could be the target, although 126.x as a low looms not too long ago here, whereas the previous flash dips to 139.2/.4 had not visited that low many many months prior, if I recall correctly. Anyhow, just musing, but throwing caution to the wind.

Gotta share this line: CNBC's Guy Johnson "If Greece Passes the (Bank) Test, Then the Test Fails" - he's of course said that because, rumour is, Greek Banks will pass! Say, did you here the one about the inmates running the insane asylum ...

And, in preparation for possible festivities this afternoon, here's a fresh view from veteran uber-analyst Ashraf:

July 21, 2010 11:53 ET: USD STRESSED OUT BY BERNANKE? Since markets are widely expecting Bernankes testimony to highlight the Feds downgrade for US growth and inflation, most FX players see it as an opportunity to sell USD into the end of the US session. Yet, it is relatively common for markets to bid up currencies 2-3 hours before their anticipated decline. Weve seen this in several FOMC meetings in H2 2009 when markets would bid up USD during the day before ultimately dumping it in mid NY afternoon when the FOM C affirms low US rates for an extended period. Unlike in other Fed testimonies, todays speech will occur at 18:00 GMT (19:00 BST), which means by the time Senators begin to pressure Bernanke about the need for further policy stimuli, markets would grow less liquid and US bond yields will see less support, thereby further dragging down USD. BUT there are TWO FACTORS, which could lead to this exception i.e. help USD; i) a resulting stocks decline, whose risk aversion could eventually support USD; (ii) EUR-negative news about related to the stress test. EURUSD still seen support at $1.2745-50 -- June 30 trend line-at which cautious buying to ensue ahead of Thursdays Asian trade.

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  • #229,454
  • Jul 21, 2010 10:33am Jul 21, 2010 10:33am
Quoting Beljevina
Another checkpointed 35 pip rise to my charted DPP, and a textbook rejection. Odd thing is, everyone has slightly different DPPs, and although I think the one used by my indi on the GY chart are off/wrong, they apparently fit some big boy's timezone, because they (and other fibs) get hit more often than not.

So now the market waits. We wait for Ben. GJ ranges, S&P parks. Is the USD downside priced in? I think not. Am thinking back to earlier months where Ben & company have spoken and a afternoon dollar selloff translating to a few hundred GJ pips...
So will you enter short during testimony or after? What usually happens during these things? bumpy price action or a one way street?
  • #229,455
  • Jul 21, 2010 10:45am Jul 21, 2010 10:45am
Quoting gotpips92
So will you enter short during testimony or after? What usually happens during these things? bumpy price action or a one way street?
well actualy my shorts are running ,... but if i were you i would do that "after" ,...but the decision is upon you ,... GL brou
  • #229,456
  • Jul 21, 2010 11:00am Jul 21, 2010 11:00am
Quoting kourtney
BINGO! THNKS KOSAI

I trade with Uk regulations that way I can still use hedging capabilities
last 6 months I average between 7 and 34% monthly after performance compensation taken so... all is cool so far and hopefully will stay that way...!!

Good luck to all of you the REAL non conflictive jealous and envious traders ptrrrrrrrrrr
What UK company does PAMM unregulated? Is it Alpari?

I do MM with Oanda and I'm thinking about switching since I don't like their crooked dealing desk prices that modify as much as 3 pips from "real" prices. You get a nice quote of 0.9 for the EUR/USD on screen but the price on chart fluctuates regularly by 1-3 pips of real market movement; so your real spread is 1.9 to 3.9 pips (typical dealing desk games). I have lost count of the number of times a new high or low is made on Oanda but not on any credible broker platforms. As a result I always have to expand my stops by 3 pips.

Cheers.
  • #229,457
  • Jul 21, 2010 11:01am Jul 21, 2010 11:01am
maybe ben will break the range?
  • #229,458
  • Jul 21, 2010 11:31am Jul 21, 2010 11:31am
Quoting gotpips92
So will you enter short during testimony or after? What usually happens during these things? bumpy price action or a one way street?
Clearly it can be different every time because of market interpretations and nothing is a sure thing.

Having said that, we're already down 90 pips from the pre-Ben range high. Typically, for a full blown committed trader, I'd be watching Ben's testimony on bloomberg.com - that makes you like most every pit and equity trader in Chicago & NY. Then, I'd be watching a S&P and Dow chart, and be monitoring USDJPY, GBPUSD, US dollar index and the yen.

If it's GY you're itching to trade - assuming you're not already short from earlier or want to re-enter. I'd usually find and draw a valid fibs on a M1, which I think is the one below. Since pros have been slowly selling USD all day, sentiment is extremely bearish. Retraces to 50% are possible, even 38.2, and I'd be surprised to see a 23.6% retrace - it might occur here and there as part of a test. When I see what looks like a reversal and rejection, I may go short again. I'd try to take partial profits and might set a BE or very tight stop on the remainder.

But it all depends on what Ben says, how the markets will interpret Ben, and how human emotion will manifest itself in the equity and fx markets.

I don't know exactly, but Ben could easily talk 30-45 minutes, and then Q&A is easily going to be that much more, longer I'd expect. So it could be a dragged out affair. And remember, due to correlation it's the equity markets leading, and fx markets reacting on low volume so volatility meaning overswings one way or another are possible. It's important to watch the 2:40 period, 3pm, and 3:30-4pm EST as potential turning points. I remember a melt-up Wed or so of last week after 4pm, more like 5pm, and there was a 150 pip melt-up; the opposite could happen here.
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  • #229,459
  • Edited 12:11pm Jul 21, 2010 11:54am | Edited 12:11pm
Added a fiblet for the last little rise - it's the blue one.

Forgot to mention in my previous post overlap of supports, fibs and TLs is what's looked at here. Notice the blue fib rise up to 76.4%, to the 132 area, which is a psychological #, a 38.2% weekly fib and otherwise support area. Rejected so far, and we're coming up on the close of the hour. S&P had touched 1065, but bounced. Where will it go next? Could be 131.3, which is the 161.8% of the bottom for both fibs I'd drawn, and am showing it as M1 on my chart - might be a possible buy and bounce area there. But, be very, very cautious scalping this. Again, it's largely an equity play here.
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  • #229,460
  • Jul 21, 2010 11:56am Jul 21, 2010 11:56am
DTL hold again
if its broke then 130.30 will be in target
H4 should not close below 131.71 other wise big chance to fall more
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