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

  • #230,281
  • Aug 5, 2010 8:47am Aug 5, 2010 8:47am
as i thought we are in downtrend and taking shorts on spikes up was best way to trade now out of trade made enough for today good luck all
Making money is easy keeping it is harder
  • #230,282
  • Aug 5, 2010 8:50am Aug 5, 2010 8:50am
Quoting fxphone
gbp/jpy is in short mode still im selling one trade a time on spikes up for now dont think even on lower time frames we have long trend just yet

Just me ?
Making money is easy keeping it is harder
  • #230,283
  • Aug 5, 2010 8:54am Aug 5, 2010 8:54am
Quoting fxphone
Just me ?
I just loaded one on this retrace
  • #230,284
  • Aug 5, 2010 9:10am Aug 5, 2010 9:10am
....there are some smart traders here, but I suspect not many can read pure hexadecimal.

  • #230,285
  • Aug 5, 2010 9:11am Aug 5, 2010 9:11am
i have been testing my software for 1 month today about to go live with 10k so far looks good but will be keeping an eye on it

Deposit/Withdrawal:1 000 000.00Credit Facility:0.00 Closed Trade P/L:146 643.53Floating P/L:-104.94Margin:349.28Balance:1 146 643.53Equity:1 146 538.59Free Margin:1 146 189.31
Making money is easy keeping it is harder
  • #230,286
  • Aug 5, 2010 9:12am Aug 5, 2010 9:12am
Quoting ukdaytrader
....there are some smart traders here, but I suspect not many can read pure hexadecimal.

did not look like that when i posted it ))))

i just did it in simple terms on new post ....sorry for all that rubbish text
Making money is easy keeping it is harder
  • #230,287
  • Aug 5, 2010 9:31am Aug 5, 2010 9:31am
Quoting fxphone
i have been testing my software for 1 month today about to go live with 10k so far looks good but will be keeping an eye on it

Deposit/Withdrawal:1 000 000.00Credit Facility:0.00 Closed Trade P/L:146 643.53Floating P/L:-104.94Margin:349.28Balance:1 146 643.53Equity:1 146 538.59Free Margin:1 146 189.31
I'm not sure how long you've been trading or in forex, but the last month has been a dog's breakfast in the majority of currencies, with most of them ranging and not making substantial movements IMO so any system will give different results when the market starts to move, which is likely to occur this fall. Don't know what your system is based on, but just throwing caution to the wind.

Also, I notice you're testing against a $1M demo account - that's one of the backhanded tricks used by brokers, since, no one is going to open up with that amount, yet, even beyond the psychological safety of a demo account, one tends to get lulled in with, perhaps trading less aggressively, yet ending up with huge gains, ie., $146,643 in one month, so, heck, anyone feels like they can succeed. Demo trading with $10K (if that's your actual intended start amount) is better, because the demo "I can do this" tingling sensation is muted by not giving ridiculous lump sum dollar amount winnings that one will never attain.

BTW, forumers would prefer to see your charts/trades/system rather than profit/loss.
  • #230,288
  • Aug 5, 2010 10:23am Aug 5, 2010 10:23am
Quoting fxghost
136.36 is pretty important point. As long as price above that I do not even consider taking a short. The only event that would bother me is BOE rate decision. That's why I would place a sell stop below the level I mentioned in case news moves the market. It definitely can. We will see if it would.
136.36 was broken some time after news. Then price retraced back to that level forming an ideal set up. Entered short below 136.14, exited at another support at 135.80. Small news breakout based trade.
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  • #230,289
  • Aug 5, 2010 3:07pm Aug 5, 2010 3:07pm
ok,the time is here ! i was waiting for ...

2 morrow is friday/end of trading week. im expecting atleast a 200 pip drop by end of trading day ..

all crosses topped already . cad/jpy topped 2day ,and we wont see an higher high before you will see a low of 73/74 during summer!

gbp/jpy -- i dont see alot lower ,im still see 123.80 ,but thats about it.a few pitstops into next week at 133.30 and eventually we will see 130.50 by next week end/possible week after,but down we go !! 128.60 IS A POTENT SUPPORT!!

cad/jpy / aud/jpy and chf/jpy will drop from here a 1000 pips more !Before chrstmas!

from next week the fun will start . chf/jpy already break the 15day bearflag and he was the first to go.the rest will follow .
eur/jpy cant go much lower as 105 somewhere.

i did catch most then on the right levels,only the aud/jpy was a bit off,but end of day by 2morrow,eveything will looks ok,and everybody will screaming BEARS form next week!

gl enjoy the ride down!
  • #230,290
  • Aug 5, 2010 3:12pm Aug 5, 2010 3:12pm
anyone want a a excellent R/R ?? (posiiton entry)

stop of 25 pips and limit 1000 pips ?

sell ca/jpy @ 84.95 stop 85.23

exit at 75..add more close below 80.00
  • #230,291
  • Aug 5, 2010 4:27pm Aug 5, 2010 4:27pm
gbp/jpy screensaver!
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  • #230,292
  • Aug 5, 2010 4:39pm Aug 5, 2010 4:39pm
Really nice break and test here. Just FYI

Jim
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  • #230,293
  • Aug 5, 2010 4:56pm Aug 5, 2010 4:56pm
Quoting Nene
Really nice break and test here. Just FYI

Jim
nene, if that 2 redlines is your stop,,then the chance to get stopped out ,is pretty high!!

the res is at 136.77 where your stop is right now.i expect a test/confirm at 136.77 before she will drop any further!

or we might not.
  • #230,294
  • Aug 5, 2010 4:58pm Aug 5, 2010 4:58pm
Quoting gucci
gbp/jpy -- i dont see alot lower ,im still see 123.80 ,but thats about it.a few pitstops into next week at 133.30 and eventually we will see 130.50 by next week end/possible week after,but down we go !! 128.60 IS A POTENT SUPPORT!!
Hello gucc,

I have a question.
Don't get me wrong, I am selling as well but I just cannot see that far ahead.
Recently you mentioned that you swing trade thus explaining your large targets & that the mentioned targets are likely going to hit in the next quarter or so.
With 131.6 level being a major barrier & seeing the retest on that level on the second quarter this year from the first quarter of last year creating a higher low, much is pointing to gbpjpy strength in the long run.
I'd like to know how you come to conclude 123.8 as a target you see if you don't mind.

Thanks.
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Thank You
  • #230,295
  • Aug 5, 2010 5:06pm Aug 5, 2010 5:06pm
The Big problem is Volume
  • #230,296
  • Aug 5, 2010 5:10pm Aug 5, 2010 5:10pm
Quoting wormboy
Hello gucc,

I have a question.
Don't get me wrong, I am selling as well but I just cannot see that far ahead.
Recently you mentioned that you swing trade thus explaining your large targets & that the mentioned targets are likely going to hit in the next quarter or so.
With 131.6 level being a major barrier & seeing the retest on that level on the second quarter this year from the first quarter of last year creating a higher low, much is pointing to gbpjpy strength in the long run.
I'd like to know how you come to conclude 123.8 as a target you...

ok 123.80 is the only supp thats been untested so far ! we might go much lower,,but i really dont bargain on that yet. im only keep till 128.60 ..

can you see that supp of 128.60 ? ill post and show it ..then go back and do research of those kind of supports..i will show your a few examples how strong is just ONE CANDLE HIGH OR LOW AS A SUPPORT..

OK LETS TALK ABOUT CAD/JPY . chf/jpy and aud/jpy .. then we will come up with the same conclusion that we will dipp much lower during Q4 ..

gbp/jpy and eur/jpy is for me not that great setups ,but have a look at chf/jpy /cad/jpy and aud/jpy .. give me a minute to post the examples ..
  • #230,297
  • Aug 5, 2010 5:14pm Aug 5, 2010 5:14pm
Your right, that is supposed to be 137.65 and not 136.65. Thanks for the catch.

Jim

Quoting gucci
nene, if that 2 redlines is your stop,,then the chance to get stopped out ,is pretty high!!

the res is at 136.77 where your stop is right now.i expect a test/confirm at 136.77 before she will drop any further!

or we might not.
  • #230,298
  • Aug 5, 2010 5:16pm Aug 5, 2010 5:16pm
Thats much better, probably would have caught it anyway, but thanks.

Jim


Quoting Nene
Your right, that is supposed to be 137.65 and not 136.65. Thanks for the catch.

Jim
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  • #230,299
  • Aug 5, 2010 5:24pm Aug 5, 2010 5:24pm
Quoting gucci
ok 123.80 is the only supp thats been untested so far ! we might go much lower,,but i really dont bargain on that yet. im only keep till 128.60 ..

can you see that supp of 128.60 ? ill post and show it ..then go back and do research of those kind of supports..i will show your a few examples how strong is just ONE CANDLE HIGH OR LOW AS A SUPPORT..

OK LETS TALK ABOUT CAD/JPY . chf/jpy and aud/jpy .. then we will come up with the same conclusion that we will dipp much lower during Q4 ..

gbp/jpy and eur/jpy is for me not that great setups...
128.6 has very little significance compared to the 3 quarterly close which were dead on 131.6
Anyway, it's okay, I don't trade other yen crosses. thanks for the reply.

good luck
Thank You
  • #230,300
  • Aug 5, 2010 5:42pm Aug 5, 2010 5:42pm
[quote=gucci;3926019]ok 123.80 is the only supp thats been untested so far ! we might go much lower,,but i really dont bargain on that yet. im only keep till 128.60 ..

Hi Gucci,

i have just PM you.

cheers.
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