Review of Strategic Tips on Milking the Major Currency Pairs

[forexgreenland]

[08:45:22 09/10/08] klho83 : hi stal and cap

[09:18:32 09/10/08] fxjedi : stal,i made almost 100 pips yesterday from gu call,if not my

trailing stop got stopped out,lol,

[09:32:38 09/10/08] Stalion : bUY gbpusd @ 1.7328, 1st target @ 1.7377...2nd target @ 1.7435

[09:42:05 09/10/08] argunes : Hi everyone

[09:42:07 09/10/08] Stalion : stop loss @ 1.7250

[09:42:27 09/10/08] Stalion : hi argunes

[09:46:05 09/10/08] fxjedi : helloo

[09:48:29 09/10/08] Stalion : for those dat didnt get the alert, just scroll up and you'll

see it..

[09:49:04 09/10/08] argunes : Stalion, I see a resistance GBP/USD at 1.7340, what do you

think about it?
[09:49:43 09/10/08] fxjedi : UK Rate Cuts Come At A Cost -Seymour Pierce: The impact of the

synchronized interest rate cuts Wednesday should not be judged too quickly, says Amit Thakar

at Seymour Pierce. "It will take time, irrespective of the asset markets' instant reaction.

Whilst we do not anticipate another coordinated move, we believe the UK, US and the European

monetary authorities will ease by another 50bps before the end of the year," he says. Adds

however, there will be costs associated with such moves, particularly in the UK. "The UK

public finances will move from a perilous state to almost unsustainable state at

structurally 5% of GDP," says Thakar.

[09:53:20 09/10/08] Stalion : a lot, argunes...

[09:53:56 09/10/08] Stalion : b4 I say anything....what does wilmart and cap think about it?

[09:54:08 09/10/08] Stalion : and jedi..

[09:57:37 09/10/08] fxjedi : umm,maybe resistance can be broken above that 17340 level?

[09:59:43 09/10/08] argunes : i see next resistance levels are 1.7400 and 1.7460 GBP/USD

[10:00:05 09/10/08] Stalion : yes, jedi...there's a good possibility price might break dat

resistance..

[10:00:29 09/10/08] wilmart : Stal abt wat?

[10:00:43 09/10/08] argunes : and it looks like 1.7430 is vulnerable GBP/USD

[10:01:18 09/10/08] Stalion : if you check your 15min chart, argunes, you could also notice

a 1-2-3 bottom, in which the 2 level has already been breached..and MACD positive divergence

to price

[10:02:09 09/10/08] argunes : Thanks Stalion. I see.

[10:02:11 09/10/08] Stalion : also a trendline break to confirm bullish move....

[10:02:44 09/10/08] Stalion : if there are no unexepected or high impact news, price would

follow technical analysis...

[10:04:12 09/10/08] fxjedi : yes, stal,its there all right

[10:06:57 09/10/08] fxjedi : but dont you think the stop at 17250 is kind of high?

[10:09:26 09/10/08] masif1 : just got picjed up the alert

[10:09:40 09/10/08] masif1 : placed the order and its just triggered

[10:10:43 09/10/08] Stalion : yes it is,jedi....from our entry point, dats like a 78 pip

risk...

[10:10:47 09/10/08] Stalion : hi masif

[10:10:58 09/10/08] masif1 : hi stal

[10:11:40 09/10/08] Stalion : going for a total of 107 pip reward

[10:11:52 09/10/08] Stalion : up to our 2nd target

[10:13:39 09/10/08] Stalion : the reason was dat we get stopped out more when we stick to a

rigid 40 pip stop loss...but by taking cognizance of support and resistance levels, we can

use dat as our exit points or stop loss levels...though with much wider risk

[10:17:38 09/10/08] Stalion : did anyone see the 1-2-3 bottom?

[10:18:53 09/10/08] caprica1 : back. Just had to take a shower

[10:18:56 09/10/08] wilmart : yeah

[10:19:09 09/10/08] argunes : I see it.

[10:20:22 09/10/08] fxjedi : me too,stal,but isnt therr a posibility gu might go down

instead of up?

[10:21:32 09/10/08] caprica1 : you know I saw the 123. I couldn't find them at first, but

all I can see now are 123's lol

[10:24:05 09/10/08] masif1 : 123!!!!

[10:24:07 09/10/08] masif1 : lol

[10:24:26 09/10/08] Stalion : might go up or down, jedi...nothing is 100% in this

business...we follow our trading plan

[10:24:46 09/10/08] fxjedi : abc's!!

[10:30:02 09/10/08] Stalion : we wud've gotten stopped out by dat spike down if we used a 40

pip sl...since price went to a low of 1.7289...

[10:30:14 09/10/08] albashir : peace be unto u all.....

[10:31:26 09/10/08] Stalion : but by putting our sl below low or support of the previous

grid/pychological number, we avoided being stopped out...so guys, wat wud you prefer?

[10:32:14 09/10/08] Stalion : a 40 pip sl and getting stopped out more often but reaching ur

targets...or a wider sl based on support and resistance, with wider risk...if stopped out..

[10:32:21 09/10/08] Stalion : hi albashir..

[10:32:33 09/10/08] wilmart : Cool all,its valid

[10:32:34 09/10/08] caprica1 : I think the wider stop, based on the current market

conditions

[10:33:52 09/10/08] wilmart : Get prepared to make some pips

[10:35:24 09/10/08] fxjedi : but whatabout equity,stal,what if stop loss is higher than 5%

of trade,what to do?

[10:35:30 09/10/08] Stalion : what do you think, argunes?

[10:35:32 09/10/08] Stalion : To Be or Not To Be???

[10:37:34 09/10/08] argunes : It's to be I think. Market volatility is high nowadays. For

our best interest putting stop loss orders to support levels are a must.

[10:38:13 09/10/08] caprica1 : you could always adjust your lot sizes FX to compensate

[10:40:58 09/10/08] masif1 : wider stop stal

[10:41:10 09/10/08] masif1 : this is something i've always raved on about

[10:41:23 09/10/08] argunes : But as Stalion said if we don't want to be stopped too early

putting 10-20 pips below support levels are wiser move.

[10:42:02 09/10/08] masif1 : this is what i've done

[10:42:11 09/10/08] masif1 : the first target is 40pips profit

[10:42:23 09/10/08] Stalion : nice move, masif...

[10:42:29 09/10/08] masif1 : so i've put an order for target as the second target

[10:42:42 09/10/08] masif1 : and put a 40pips trailing s/l

[10:43:28 09/10/08] fxjedi : but we have not yet gone onto first target!

[10:43:40 09/10/08] masif1 : i know

[10:44:00 09/10/08] masif1 : my sl is at 17250

[10:50:17 09/10/08] Stalion : since EURUSD and GBPUSD tends to move together, most of the

time, it would also be a nice idea to keep an eye out on euro dollar..its on a topping

formation now...looking to go down...which is also influencing cable..

[10:53:31 09/10/08] caprica1 : isn't that a hammer bar on the cable 15M chart?

[10:53:47 09/10/08] Stalion : and dats one of the main reasons price is dilly dallying

around our entry @ 1.7328...trying to decide whether to follow its own technical bias(long)

or play tag with EURUSD(short)...To Be Or Not To Be....lol..

[10:59:57 09/10/08] Stalion : 7 more pips to our 1st target of 1.7377...7 lucky

number...lol..

[11:01:04 09/10/08] caprica1 : should I be taking half profits now at +20?

[11:01:57 09/10/08] argunes : Hourly cable RSI has passed 50 and it's a good bullish sign

[11:02:04 09/10/08] Stalion : yes, please do....market volatility doesnt care whether you

lock in profits or not...it just moves..

[11:02:17 09/10/08] caprica1 : kool

[11:02:46 09/10/08] caprica1 : keep stop where it is?

[11:04:27 09/10/08] Stalion : take half or one third profits when +20 pips ahead..the move

stop loss to entry..

[11:05:12 09/10/08] Stalion : we shouldnt allow greed of the reward(target) to hinder us

from proper risk mgt...

[11:14:14 09/10/08] argunes : Guys I gotta go. Have a nice trading day.

[11:22:40 09/10/08] caprica1 : stopped out on the adjusted stop loss, but closed half lot at

+20

[11:27:23 09/10/08] wilmart : Its more safe to exit now

[11:31:55 09/10/08] Stalion : 1st target hit @ 1.7377

[11:34:32 09/10/08] Stalion : where price made a high of 1.7378...then went back down...hope

you now see the reasoning behind locking your profits when you get the chance..

[11:35:34 09/10/08] Stalion : standby for reentry if you were stopped out at the prearranged

profit of +20 pips..

[11:39:36 09/10/08] fxjedi : i c

[11:41:13 09/10/08] caprica1 : kool

[11:42:49 09/10/08] caprica1 : at what price? The same as before?

[11:52:18 09/10/08] Stalion : yea....cap...at the original buy order..

[11:54:37 09/10/08] caprica1 : ok

[12:33:56 09/10/08] klho83 : Set 1st target and back to my pc hour later. Found firrt target

hit. But SL at 1.7250 just hit

[12:39:38 09/10/08] Stalion : we could see a double 123 bottom whammy forming...the second

one should breach our 1st target at 1.7377 again, for the double whammy to be confirmed..

[12:39:48 09/10/08] caprica1 : just missed re-entry by a few pips. So put a buy limit in

place

[12:40:00 09/10/08] klho83 : After hit the fisrt target. Price went down to exactly 17250

and took my SL

[12:44:49 09/10/08] klho83 : 75% set at 1st target. 25% set at 2nd target. I didn't change

the SL

[12:46:39 09/10/08] caprica1 : my re-entry limit triggered, back in an waiting for another

+20 to close half lot.

[12:50:54 09/10/08] caprica1 : +20 half lot closed again

[12:58:22 09/10/08] klho83 : congra! cap

[13:02:18 09/10/08] klho83 : going in again?

[13:03:08 09/10/08] caprica1 : ntopped out just yet

[13:03:41 09/10/08] caprica1 : now it has! lol

[13:05:26 09/10/08] klho83 : M in too!

[13:24:23 09/10/08] klho83 : target 17400

[13:44:49 09/10/08] klho83 : +20pips .all flat

[13:54:14 09/10/08] masif1 : nice nice chicken and rice

[13:54:29 09/10/08] masif1 : taken 20 pips again

 

[forexgreenland]

One Chance

Chance

The Chance card denotes a period in which taking risks may produce positive results. This

doesn't mean head off to a casino with your life's savings! What is suggested is that you

should make gains by taking a well calculated risk. For the power of Chance to be fully

realized it is essential that you pick your risk carefully, move forward with conviction,

and above all else don't get greedy!

targets 1.7180 or 1.7370

Congratulations,bitrader...price rocketed up way beyond a high of 1.7740...like a jet..
But the thing is you didnt put any entries...mon ami...That is the most delicate part of

it..at any timeframe... TIMING OF THE ENTRY...because at the time you post it(6.01 PM

EST?)yesterday, you would have been stopped out from the downward bearish hammer spike..
So concetrate on your entries...especially in this time of market volatility..

[09:33:40 13/10/08] Stalion : hi all

[09:37:13 13/10/08] wilmart : Gm stal

[09:39:24 13/10/08] klho83 : hi stal

[10:05:10 13/10/08] fxjedi : i made close to 100 pips last friday from your call,but am

still wondering why you call it black friday?

[10:09:05 13/10/08] Stalion : lol..jedi....someone..or was it you...mentioned Black Friday

earlier on...so I just took up the joke...but glad we reached our 3rd targets though/../

[10:11:37 13/10/08] fxjedi : yes indeed

[10:13:07 13/10/08] fxjedi : The legacy of the current financial market carnage should be a

stronger JPY and weaker Euro and USD, says Standard Bank's Steve Barrow. The USD will be

hurt because the US banking model is broken and this will make overseas investors wary of

buying US assets they previously invested in. The Euro will lose out because the economic

and financial disruptions seen will cause immense political strain in the region. However,

Barrow says Japan is an entirely different kettle of fish, it had its banking crisis some

time ago and as a result its financial markets are in much better shape. Unwinding of carry

trades, already being seen, will also continue. So for USD/JPY Barrow can see 90.0, possibly

80.0, while EUR/JPY slides toward 110.00.

[10:16:15 13/10/08] fxjedi : Commodity currencies are unlikely to rise even if global risk

appetite starts to recover, as it has early Monday.

[10:16:35 13/10/08] fxjedi : As events over the last two weeks have shown, the outlook for

the global economy is deteriorating rapidly - ensuring that commodity prices will remain

weak and that support for the currencies of Australia, New Zealand and Canada continues to

fall. "Commodity producers are the most vulnerable," said Paul Robson, foreign exchange

strategist with The Royal Bank of Scotland in London. "Markets are now pricing in

expectations of a deep recession," said Geoffrey Yu, a senior currency strategist at UBS in

Zurich as equity markets took another steep tumble, wiping as much as 40% from the value of

major stock markets since their highs in August 2007. Last week, as official attempts to

halt the credit crisis failed and risk aversion rose to its highest level in nearly 11

years, the arch-commodity currency, Australian dollar, was trashed. At one stage, it

collapsed nearly 20% against the yen, the currency seen as the prime safe haven in these

troubled times. The Australian economy itself was hardly providing any help.

[10:16:59 13/10/08] fxjedi : Not only has the Reserve Bank of Australia led the way for a

recent coordinated cut in global interest rates, by slashing its key rates by 100 basis

points, but the Australian stock market was diving too. Friday, prices fell 8.3%, the

largest fall since the crash of October 1987.

[10:17:09 13/10/08] wilmart : Stal,i really commend your effort

[10:17:47 13/10/08] Stalion : when are we going to see the end of all these bad news in the

financial markets?

[10:24:50 13/10/08] Stalion : We put a BUY STOP @ 1.7230, 1st target @ 1.7280..


[10:26:36 13/10/08] Stalion : sl 1.7168

[10:32:00 13/10/08] Stalion : we are seeing a 1-2-3 bottom formation, in which price have

already passed the number 2 mark...

[10:48:20 13/10/08] alanlewis : gpb/usd recovered well!

[10:49:24 13/10/08] fxjedi : that was a nasty spike down there early this morning,alanlewis

[10:50:30 13/10/08] alanlewis : i had a buy trade and got out before spikelucky!

[10:50:44 13/10/08] alanlewis : spike luckily.

[10:51:22 13/10/08] fxjedi : lol,lucky

[10:52:08 13/10/08] fxjedi : am not sure if the global crises is indeed feeding the markets

volatility

[10:52:39 13/10/08] fxjedi : The German government was on Monday preparing to endorse a bill

to restore liquidity and inject fresh capital in the country’s ailing banking and insurance

sector potentially worth up to €470bn – the biggest state intervention in the economy since

the end of the War.

[10:53:02 13/10/08] alanlewis : the media fuels the fear

[10:53:08 13/10/08] fxjedi : now, its like we cant talk about recession without referring to

War

[10:53:24 13/10/08] alanlewis : lol


[10:55:57 13/10/08] Stalion : our buy stop @ 1.7230 is about to get triggered..

[10:56:08 13/10/08] alanlewis : yep

[10:57:14 13/10/08] alanlewis : what targets do u have in mind stalion

[10:57:24 13/10/08] Stalion : based on our pattern we mentioned earlier...gbpusd might give

up a whole lotta pips ...

[11:05:53 13/10/08] fxjedi : Russia has fired three longe range missiles and declared its

nuclear deterrent strong

[11:06:57 13/10/08] alanlewis : any thoughts on gbp/chf, had a buy trade for 3 days up 500

pips or so where will it top out?

[11:07:02 13/10/08] fxjedi : Two of the missiles were fired from nuclear submarines in the

Asian and European extremes of the sprawling country while a third was watched by President

Dmitry Medvedev on land in northwest Russia

[11:10:17 13/10/08] fxjedi : A £516 trillion derivatives 'time-bomb'

[11:10:48 13/10/08] fxjedi : It's a market in which the lead protagonists – typically

aggressive, highly educated, and now wealthy young men – have flourished in the derivatives

boom. But it's a market that is set to come to a crashing halt – the Great Unwind has begun

[11:10:52 13/10/08] fxjedi : Not for nothing did US billionaire Warren Buffett call them the

real 'weapons of mass destruction'

[11:11:51 13/10/08] Stalion : hmmm....

[11:14:05 13/10/08] Stalion : under normal market conditions, alan, I think this is the time

to unwind ur gbpchf trade...price might turn around any time from now...

[11:15:16 13/10/08] Stalion : no particular directional movement for pairs due to lack of

news...

[11:15:26 13/10/08] Stalion : low momentum monday

[11:15:50 13/10/08] Stalion : but buy pending order still stands

[11:18:47 13/10/08] Stalion : technically, both gbpjpy and gbpchf are supposed to be on a

topping pattern...only time will tell when they drop and unwind..but dey shud

[11:21:14 13/10/08] Stalion : be back for New York Session,guys..

[11:31:59 13/10/08] alanlewis : my buy stop just took off

[12:55:00 13/10/08] masif1 : well done guys

[12:55:08 13/10/08] masif1 : i could take this trade

[12:55:18 13/10/08] masif1 : but looks like some pips were made?

[13:31:12 13/10/08] fxjedi : yea...masif....+65 pips...not even counting our 25 pip trailing

stop loss..

[13:32:06 13/10/08] fxjedi : lol!

[13:32:45 13/10/08] fxjedi : hi klho83

[13:33:14 13/10/08] fxjedi : did you see gu shoot up??

[13:33:52 13/10/08] klho83 : didn't put trialing

[13:34:24 13/10/08] klho83 : up more than 100pips

[13:34:35 13/10/08] fxjedi : am 200 pips in profits

[13:36:05 13/10/08] klho83 : Great!

[13:40:07 13/10/08] Stalion : nice start of the week,K

[13:40:25 13/10/08] Stalion : did you make any money?

[13:42:11 13/10/08] klho83 : Thanks Stalion! Please work harder Smile

[13:43:15 13/10/08] Stalion : lol....sure will....

[13:43:35 13/10/08] masif1 : excellent

[13:43:46 13/10/08] masif1 : well done guys

[13:44:00 13/10/08] masif1 : put a trailing s/l and you'll be laughing!

[13:45:39 13/10/08] Stalion : 25 pip trailing stop is on....just waiting for price to stop

me out at a +180 profits

[13:46:12 13/10/08] Stalion : stopped out

[13:47:33 13/10/08] Stalion : Very Happy

[13:48:00 13/10/08] masif1 : excellent stal

[13:48:22 13/10/08] masif1 : i used a similar method on fridays call and made about 100 pips

[13:48:38 13/10/08] masif1 : but then got greedy and gave half of it back

[13:48:50 13/10/08] fxjedi : you did it again,stal

[13:50:28 13/10/08] Stalion : not me,jedi....its the market...

[13:51:10 13/10/08] albashir : hello all.....

[13:51:26 13/10/08] albashir : hi stal...u did well was out with 245pips

[14:00:15 13/10/08] fxjedi : i can go back to sleep a happy man,stal

[14:02:04 13/10/08] Stalion : lol

[14:03:26 13/10/08] Stalion : trading is finished here for today...since we've ended on a

positive note....we'll be back tommorrow..

[14:03:46 13/10/08] Stalion : please feel free to ask any questions or comments...

[14:04:52 13/10/08] klho83 : Today I m a happy man too See u tomorow

Manic Monday: Dow roars back from worst week ever - Yahoo! News

 

[forexgreenland]

[09:29:18 14/10/08] caprica1 : morning

[09:29:42 14/10/08] klho83 : Hi Cap gm

[09:43:39 14/10/08] caprica1 : how are you K?

[09:48:11 14/10/08] klho83 : m doing fine cap .Thanks. U missed yerterday trade?

[09:57:13 14/10/08] fxjedi : gm all

[10:02:40 14/10/08] Stalion : helloo everyone
.
[10:16:03 14/10/08] fxjedi : UK House Sales At Record Lows - RICS:

[10:16:21 14/10/08] fxjedi : The latest RICS house price survey released overnight

showed UK house sales in September fell to record lows, while the net balance of

surveyors reporting prices falling against rising was -84.2 compared with -81.8 in

August. It's difficult to tell if the data had any impact on sterling, however

GBP/USD has fallen in early Europe and now trades at 1.7440 from the day's high of

1.7547, while EUR/GBP is trading in the middle of its 0.7830-0.7794 day's range

[10:25:10 14/10/08] Stalion : BUY STOP ON GBP @ 1.7570...1ST TARGET @ 1.7610..2ND

TARGET @ 1.7648

[10:26:50 14/10/08] caprica1 : do your buy prices include your spreads Stal?

[10:27:08 14/10/08] Stalion : STOP LOSS @ 1.7505

[10:27:57 14/10/08] Stalion : no....please add spreads to price...2 or 3 pips...

[10:28:10 14/10/08] caprica1 : lol. Just checkinh

[10:32:10 14/10/08] Stalion : price looks to retracing down to 1.7470

[10:35:32 14/10/08] Stalion : the trend is still up,guys...in which the retracement

level is inside the uptrend...get it?

[10:36:32 14/10/08] Stalion : cool...

[10:43:53 14/10/08] Stalion : price diving down to the 1.7470 area...pardon the

pun,cap..

[10:48:40 14/10/08] caprica1 : lol. None taken

[10:54:04 14/10/08] Stalion : so why do we see price dipping to that 1.7470 area?

[10:57:32 14/10/08] caprica1 : no sure. The high of yesterday was .7442

[10:58:51 14/10/08] Stalion : so??

[11:01:35 14/10/08] Stalion : for now..dats not the high to to be looking for...the

one at 1.7566 could be more productive really..soo, what were you thinking when you

mentioned the high of yesterday..especially in relation to that region?

[11:02:11 14/10/08] Stalion : masif??

[11:04:00 14/10/08] caprica1 : yesterday's high could act as support

[11:05:50 14/10/08] Stalion : helloo there takbal...

[11:06:04 14/10/08] takbal : hi all

[11:07:03 14/10/08] Stalion : yes, it sure could...but it might be more incisive if

we take the swing low at 1.7413 as major support..

[11:11:13 14/10/08] masif1 : hi stal

[11:13:45 14/10/08] caprica1 : yep

[11:34:57 14/10/08] Stalion : price making a counterattack to the bullish side

[11:39:17 14/10/08] caprica1 : yeah it's moving back up to the entry.

[11:44:41 14/10/08] Stalion : price needs to breach two resistance area before it

gets to our trigger..

[11:49:38 14/10/08] caprica1 : where are those areas

[11:55:46 14/10/08] Stalion : we are at the first area now..at 1.7550

[11:56:20 14/10/08] Stalion : 2nd area is 15 pips away at 1.7566

[11:56:53 14/10/08] Stalion : hi enolase

[11:57:03 14/10/08] enolase : hi

[11:58:29 14/10/08] Stalion : welcome aboard and fasten ur sealbelts...

[11:58:37 14/10/08] Stalion : seatbelts

[12:00:24 14/10/08] enolase : any orders yet?

[12:01:01 14/10/08] fxjedi : just imagin you just retired and 60 percent of your

portfolio in stocks....hmmm, I guess retirement is already over for some..No choice

but to keep working till death...The talking heads think this will extend, yeah

right....another selling opp if ya ask me...this world is headed for Revolations

spelled out in the Bible...And Im not even a religon activist....

[12:01:23 14/10/08] fxjedi : its up there enolase

[12:05:10 14/10/08] fxjedi : UK Gilts The UK government faces a £2B paper loss on

its investment in the country's banks - FT

[12:05:42 14/10/08] Stalion : BUY STOP TRIGGERED...

[12:07:46 14/10/08] fxjedi : whooppiieeee...!!

[12:09:54 14/10/08] Stalion : not so fast...

[12:10:49 14/10/08] enolase : my network is slow

[12:11:18 14/10/08] Stalion : starcomms?

[12:15:58 14/10/08] fxjedi : EUR/USD : The current expected trading ranges from the

monthly cycle projected series are 1.3390 // 1.3476* - 1.3562 - 1.3648 - 1.3734 -

1.3820* - 1.3906 - [1.3992]. A critical resistant point is positioning at 1.3749

[13:21:01 14/10/08] Stalion : please take half profits now as price is at

1.7605...+30 pips..

[13:25:17 14/10/08] Stalion : hi masif///

[13:27:05 14/10/08] Stalion : the recent high has been pierced right now....which

looks like a continuation of the uptrend

[13:28:49 14/10/08] Stalion : +40 pips...

[13:30:20 14/10/08] Stalion : 2nd target 1.7685

[13:30:51 14/10/08] Stalion : or just place a 15 to 25 pip trailing stop...

[13:32:01 14/10/08] enolase : just exited at 1.7624

[13:33:22 14/10/08] fxjedi : that was kinda fast,enolase

[13:33:39 14/10/08] enolase : i will look for a safe re-entry point

[13:34:58 14/10/08] enolase : with this my network i can't take no stupid chances

[13:36:10 14/10/08] enolase : Starcomms cost me badly last week Monday

[13:36:51 14/10/08] enolase : was in profit to the tune of $2000 at a point, then

just as I was about to place a trailing stop, my network disappeared (for the next

one week)

[13:37:44 14/10/08] enolase : and I ended up making only $800 from the trade (price

had retraced by the time i was able to get to a cafe where i had downloaded the MT4

platform

[13:37:45 14/10/08] Stalion : why not use multilinks?

[13:39:01 14/10/08] Stalion : or better still...cobranet or swift networks...they

are broadband and very fast....see if dey are operating in ur area...jus 15 or 16k

per month...like starcomms

[13:41:27 14/10/08] masif1 : do u mean 3rd target 17685?

[13:44:41 14/10/08] Stalion : yes...masif.....3rd target @ 1.7685....

[14:45:48 14/10/08] Tpack : hi is this room active ?

[15:03:24 14/10/08] masif1 : we got stopped out on the way to 2nd target

[15:03:30 14/10/08] masif1 : damn something wrong with the chat box

[15:17:07 14/10/08] Tpack : hi masif1 is the chatbox playing up ?

[15:18:15 14/10/08] masif1 : i think so

[15:36:16 14/10/08] enolase : well, just logged back in to see that GU dropped like

it wqs hot

[15:36:45 14/10/08] enolase : looks like i made a wise choice taking what i was

able to get and scramming

[16:26:54 14/10/08] masif1 : yep got stopped out again

[16:27:07 14/10/08] masif1 : looks like gu going down down down

 

[forexgreenland]

Mystikal,you think you are one popular hotshot or a Jack Hershey,with those

stupid moves you tink you got.well better get off your high horse and eat pooh.YOU ARE

NOTHING,UNDERSTAND,NOTHING!

[10:17:01 15/10/08] fxjedi : hi all

[10:18:37 15/10/08] Tpack : hi fxjedi

[10:20:56 15/10/08] fxjedi : stalion sent a text alert, looks like he coudnt yet make it

online

[10:22:17 15/10/08] fxjedi : buy stop gu at 17467,1st target at 17509, 2nd target at 17535,

sl at 17421

[10:23:06 15/10/08] fxjedi : hi klho83

[10:23:10 15/10/08] klho83 : yup! got it. thanks

[10:23:28 15/10/08] klho83 : thanks fx

[10:23:29 15/10/08] fxjedi : did u get text?

[10:23:59 15/10/08] klho83 : yes

[10:24:06 15/10/08] fxjedi : ok

[10:25:59 15/10/08] fxjedi : hope we have another good trading day today

[10:39:23 15/10/08] Stalion : hi everyone..

[10:40:06 15/10/08] Stalion : sorry for being late today...had some problems with my

internet network...even the back up was down...

[10:41:03 15/10/08] fxjedi : hi stal

[10:41:48 15/10/08] Stalion : helloo there jedi..I seen you got my text alrite...

[10:42:38 15/10/08] fxjedi : sure did,

[10:44:07 15/10/08] Stalion : price on the GBPUSD steadily moving up to our 1st target of

1.7509..presently at 1.7500 as we speak..

[10:45:57 15/10/08] Stalion : hi tupac

[10:46:33 15/10/08] Tpack : Hi Stalion

[10:47:15 15/10/08] klho83 : Hi stal thanks for the text alert

[10:49:21 15/10/08] klho83 : TP 1 hit

[10:49:23 15/10/08] Stalion : no probs,K...part of the package,u know...I jus got back on

after some hours of internet disconnection...had to call my broker and ask for prices before

the text alert

[10:49:37 15/10/08] fxjedi : 1st taget hit

[10:50:14 15/10/08] Stalion : cool

[10:50:21 15/10/08] caprica1 : Hi Stal. How's it going ?

[10:50:31 15/10/08] Stalion : take profits, den shift stop loss to entry as usual...

[10:50:49 15/10/08] Stalion : helloo there cap

[10:52:01 15/10/08] Stalion : please dont wait until price retraces and clear out ur

profits....just take half profits now, den shift sl to entry...d remaining half is for 2nd

target or reentry

[10:53:24 15/10/08] Tpack : nice call stalion I can see the price projection from

17420-17495 and applied to the 17467 , was the trade a 60pct from the high of the17495 and

then the triger is the higher higs on the candles ?

[10:59:53 15/10/08] fxjedi : gu going for seconfd taget

[11:04:30 15/10/08] Stalion : cool...

[11:04:34 15/10/08] masif1 : did i miss the alert

[11:04:40 15/10/08] masif1 : first target alredy hit?

[11:05:41 15/10/08] Stalion : am not sure I understand your question,tupac...?

[11:06:11 15/10/08] Stalion : yes, masif....a lil late for the party..

[11:06:38 15/10/08] Stalion : but you can still go for 2nd target...though with more higher

risk..

[11:08:39 15/10/08] Tpack : Hi Stalion . I was just checking to see if I could figure where

you got the projection from and what was the trigger as price was meandering in and around

that area for a couple of areas what wass the trigger which made your decision ?

[11:08:58 15/10/08] Stalion : remember guys, once it gets to the 1.7525 region, you can put

in a a 15 to 25 pip trailing stop on the trade..since our sl is now at entry, we are

''playing with house money''..

[11:10:30 15/10/08] fxjedi : The EUR/USD on the 1 month 10 year chart showed and head and

should pattern which did not give a reversal. The same chart is showing the possibility of

forming another head and shoulder pattern.

[11:10:48 15/10/08] fxjedi : Always take three ‘vectors’ to understand a position, in order

to orientate a direction ‘of trade’.

[11:11:04 15/10/08] fxjedi : A fourth gives conformation

[11:11:17 15/10/08] fxjedi : It is a matter of certainty of a trade – or how stable you are

sitting on a seat with less than three or four legs

[11:11:30 15/10/08] fxjedi : Of course it all depends on what time scale you trade on – but

the longer charts cannot be ignored.

[11:11:46 15/10/08] fxjedi : Pips are where pips are for now

[11:13:43 15/10/08] Stalion : you could say any trigger on a trade wud be due to a

''confluence of events''...and intuition

[11:21:57 15/10/08] Stalion : 2nd target hit.....!!

[11:22:28 15/10/08] Stalion : 25 pip trailing stop locked on

[11:23:41 15/10/08] fxjedi : just made 68 pips , stal,

[11:23:55 15/10/08] fxjedi : thanks

[11:24:10 15/10/08] fxjedi : Very Happy

[11:24:55 15/10/08] Stalion : no probs...jedi...the market did it again..

[11:25:26 15/10/08] Stalion : and looks like its going for more pips..

[11:26:12 15/10/08] fxjedi : whooohoooo,

[11:27:33 15/10/08] fxjedi : The outlook for emerging-market currencies isn't particularly

positive, even if the appetite for risk continues to recover.

[11:31:55 15/10/08] fxjedi : Emerging-market currencies have managed to recoup some of their

recent losses as investors swallow their concerns and return to the markets, but they're

still likely to exercise a high degree of caution toward these risky units, analysts warn.

[11:32:16 15/10/08] Stalion : are you still in the GBPUSD trade, K?

[11:33:28 15/10/08] klho83 : 50% 1st Target .25% 2nd target last 25% trailinggggggggg

[11:33:36 15/10/08] masif1 : well done guys

[11:33:59 15/10/08] masif1 : so now your on a 25pips trailing s/l?

[11:34:22 15/10/08] klho83 : 30pips trail

[11:39:03 15/10/08] Stalion : you see, yesterday, if you'd use our standard risk mgt

principle, you would have been stopped out at ur entry while making +40 pips...

[11:40:53 15/10/08] Stalion : remember, the market is not the same like 6 months ago...lots

of volatility and bad financial news out there,.....so it wont be prudent if we always wait

for an extended rally or decline breakout,which doesnt occur all the time..

[11:41:13 15/10/08] Stalion : even enolase cut his profits yesterday and scrammed

[11:41:55 15/10/08] fxjedi : gu shhoting up,

[11:42:19 15/10/08] fxjedi : am 100 pips gain

[11:42:35 15/10/08] fxjedi : klho83, can you see that?

[11:43:02 15/10/08] klho83 : Hitting The Moom Smile

[11:44:07 15/10/08] Stalion : mama mia!!!!

[11:44:22 15/10/08] fxjedi : yeah!

[11:44:50 15/10/08] Stalion : santa maria!!!

[11:45:18 15/10/08] fxjedi : yea!

[11:45:35 15/10/08] fxjedi : LMAO

[11:46:17 15/10/08] fxjedi : Laughing My A** Out!

[11:47:07 15/10/08] masif1 : wheres klho?

[11:47:21 15/10/08] masif1 : well done guys

[11:47:37 15/10/08] klho83 : Still on the flight!

[11:48:04 15/10/08] fxjedi : lol

[11:48:32 15/10/08] fxjedi : rocket to moon?

[11:48:56 15/10/08] klho83 : Stal where can land?

[11:50:06 15/10/08] Stalion : dont be greedy,guys....we are ''playing with house money''

now...since our sl is at entry point...or 15 to 30 pips in trailing stop...

[11:51:08 15/10/08] Stalion : you can land when price retraces down to 30 pips..in

yourcase...ur trailing stop kicks in and ensures you get out at the farthest price can go in

the moment

[11:53:13 15/10/08] klho83 : out for 120pips

[11:53:46 15/10/08] Stalion : see it pause and retrace at the pychological number/grid at

1.7600

[11:54:19 15/10/08] klho83 : yeap! round number

[11:54:31 15/10/08] Stalion : then retrace down to stop K at a 120 pip profit..

[11:56:25 15/10/08] fxjedi : sure,i got out at 128 pips,

[11:59:00 15/10/08] Stalion : We gotta learn to take trading seriously, masif...Trading is a

business and should be treated as such

[11:59:36 15/10/08] masif1 : noted

[11:59:55 15/10/08] fxjedi : with a 15 pip sl

[12:00:17 15/10/08] fxjedi : traillingsstop

[12:01:59 15/10/08] Stalion : cool

[12:07:32 15/10/08] Stalion : price retracing downwards...the bearish drive may continue to

1.7500 or lower

[12:08:43 15/10/08] Stalion : or just continue going up...

[12:09:30 15/10/08] Stalion : where do you think its going,K..?continue up or going down?

[12:12:17 15/10/08] Stalion : I've already sold, by the way

[12:12:20 15/10/08] fxjedi : down?

[12:12:55 15/10/08] Stalion : yes...jedi

[12:13:21 15/10/08] Stalion : but to how much distance?

[12:15:00 15/10/08] fxjedi : not sure,but maybe going down to previous support

[12:17:17 15/10/08] Stalion : cool

[12:18:51 15/10/08] Stalion : some made close to 130 pips in less than 3 hours today...

[12:19:54 15/10/08] Stalion : +128 pips, $128 minilot...$1280 standard lot on cable (GBPUSD)

[12:20:43 15/10/08] Stalion : hi there, eno

[12:21:11 15/10/08] Stalion : did you get the text alert?

[12:37:01 15/10/08] klho83 : Hi Stal just back to my PC. GU should go up futher. Resistance

level at 17630 ..?

[12:39:01 15/10/08] enolase : a very great call

[12:40:34 15/10/08] klho83 : MACD already shows sign of divergence..

[12:41:39 15/10/08] klho83 : wu retrace from there or lower..correct me stal ..if i'm

wrong..

[12:56:08 15/10/08] masif1 : so who's on short on GU now?

[13:04:42 15/10/08] enolase : i actually set my target there

[13:27:32 15/10/08] enolase : GU formed a double top at 1.7570

[13:28:42 15/10/08] enolase : i checked my one hour chart and found that it made 1.7570

yesterday and today

[13:38:05 15/10/08] masif1 : so u went short on it as well?

[14:46:39 15/10/08] argunes : hi everyone! looks like i missed the fun.

[18:16:24 15/10/08] Stalion : yes you did, argunes....

[18:47:17 15/10/08] Stalion : [12:07:32 15/10/08] Stalion : price retracing downwards...the

bearish drive may continue to 1.7500 or lower

[18:47:41 15/10/08] Stalion : Price moved almost 300 pips below 1.7500

 

[forexgreenland]

Hello Mystikal,

Thanks for your replies. Another question for you and I hope it will be answered :

1) Please how do you determine your entry points.

2) How do you calculate those your targets ( 1 target, 2nd target and so on).

3) How do you know the number of target a trade or move will have ( whether 1 ,2 or 3

targets).

4) Also,what are the conditions for a 1-2-3 bottom? that is whats the 1 stand for, the 2

and the 3 , what do they all stand for?

5) in your last reply to me, you said "so in this context,2 was a minor low, while the
low of the bearish hammer before the doji, at the last support ,could stand as an
intermediate low." so please whats the difference between a minor low and an intermediate

low

6) What do you mean by a bearish hammer and a "doji"


Expecting A Reply

1)
Most traders tend to concentrate on pinpointing the perfect entry for a trade. However, in

reality the entry price is just one part of the equation. The common entry techniques are:

Channel Breakouts

A trend trader will tend to use channel breakouts to enter trades in order to catch a trend

when it is beginning. The general rule is to pick a period length, which could be 20 days

for a long term trader or 15 minutes for a daytrader and buy if the high in that period is

broken or sell if the low is broken.

Visual Entry based on patterns

The art of technical analysis focuses on the many types of chart patterns that markets tend

to form. Such as gaps, spikes, inside days, outside days, triangles, flags and double tops

to name a few. These entries are rather more subjective than channel breakouts.

Pure prediction

Prediction techniques include Elliott Wave, Gann and Dow Theory. Again the actual entry

price based on such theories is very subjective. Predictive techniques usually try to pin

point major turning points in markets and are therefore attempting to go against the current

trend rather than with it.

Volatility Breakouts

The theory behind a volatility breakout is that if the market makes a sudden move in a

particular direction then it is likely to continue in that direction. The general rule is to

add/subtract a pre-determined percentage of the recent average true range to the opening

price thus giving buy and sell points.

Moving Averages

Take the average price of the last x periods (minutes, hours or days) and buy if the price

crosses above and sell if it crosses below. This technique works well in purely trending

markets but will be badly whipsawed in a range bound market. Variations include using 2 or

more moving averages and using the cross of those as a signal. The moving averages

themselves could be simple or weighted (more emphasise on the latest prices).

Oscillators and Stochastics

I.e. RSI, stochastics, Williams %R etc. Generally these tools are used to determine whether

the market is 'overbought' and ready to drop or 'oversold' and ready to rise. They work best

in range bound markets by picking tops and bottoms but fail in a trending market.

(2) &(3)

Since trading is more of an art than a science, its more of the interpretation of the chart

information that just calculations,Onwukarisa..Besides,like I reiterated before,it wont be

to the best interests of my clients and partners if the 'edge' is disclosed in an open forum

due to the risk of fading out by the banks, institutional traders,etc..
Contact me if you are interested in a private one on one coaching on these winning

[email protected]

4) A 123 bottom is a reversal pattern that is usually seen at the end of a downtrend, in

which the breach of the 2 denotes a bullish movement of price..
1 stands for the lowest low(LL)...2 stands for the intermediate high before price retraces,

and 3 stands for the intermediate low...remember 3, the intermediate low, should not be

lower than 1, which is the major or lowest low..

5)''A hammer have small real bodies(either black or white), and these real bodies have to be

at or near the highs of the session..Another criterion is that they need very long lower

shadows ( at least two to three times the height of the real body).Because of their

identical shape, you can identify them depending on where they appear in an uptrend or

downtrend...A hammer will appear at or near the bottom of a decline, either briefly or

extended; thus the name ''hammer''...which suggests that the market is hammering out a

base.. A bearish hammer simply means the clour of the hammer is dark, denoting the opening

price is higher than the closing price of the hammer..

A doji is a session in which the opening and closing prices are the same..theregfore it

resembles a cross.It indicates a market in complete balance between supply and demand..Since

a doji session represents a market at a juncture of indecision, it can often be an early

warning that a preceeding rally(rise) could be losing steam..
The ideal doji forms with the same opening and closing price, but this rule is

flexible..When the opening and closing prices are only a few ticks from each other, you can

still consider the candleline as a doji..''

The Candlestick Course...Steve Nison

With such information LiteForex goto Trash.....

Hi zigzug, I'm not sure about what you mean by how such info might affect liteforex...can

you please explain more?


[08:52:53 17/10/08] masif1 : by the way guys

[08:53:05 17/10/08] masif1 : the short on cbale triggered

[08:53:28 17/10/08] masif1 : but went for about 5pips and retraced back and got stopped out

Sad

[09:00:35 17/10/08] kokowater : EU is good for a short now

[09:02:44 17/10/08] Stalion : helloo everyone

[09:05:07 17/10/08] fxjedi : hi stal

[09:06:28 17/10/08] Stalion : Sell Stop on the gbpusd @ 1.7250..1st target @ 1.7220...2nd

target @ 1.7195

[09:09:47 17/10/08] Stalion : hi fxjedi

[09:11:37 17/10/08] caprica1 : morning everyone

[09:12:30 17/10/08] Stalion : hi cap....koko...

[09:13:03 17/10/08] caprica1 : how was your night?

[09:14:08 17/10/08] Stalion : hope you'all had a good nite rest../

[09:15:03 17/10/08] Stalion : twas okay, cap....our trade call yesterday didnt go our

way..so we scratch dat and say NEXT

[09:16:35 17/10/08] fxjedi : GBP/USD : The market is going to consolidate within 1.7177 -

1.7332 for the time being. A projected resistant point is positioning at 1.7607. Today is

the end of the weekly cycle. One have to be very cautious that the market can easily

consolidate within the weekly cycle pivot centers at 1.6796 - 1.6999 - 1.7298.

[09:17:33 17/10/08] fxjedi : Hedge Funds Lost $34.5B To Redemptions In Sept

[09:17:53 17/10/08] fxjedi : Hedge funds lost US$34.5 billion to outflows and lost an

additional US$44.5 billion from losses in September, according to new data from Eurekahedge.

This brings the global hedge fund industry down to US$1.8 trillion in assets, down from

US$1.9 trillion in January. Usual year-end redemptions are expected to exacerbate losses at

hedge funds in 4Q. Funds are already grappling with tanking markets, counterparty risk, and

short-selling restrictions.

[09:18:17 17/10/08] Stalion : HI k

[09:18:47 17/10/08] klho83 : any trade alerts?

[09:19:46 17/10/08] Stalion : [10:06:28] Stalion : Sell Stop on the gbpusd @ 1.7250..1st

target @ 1.7220...2nd target @ 1.7195

[09:22:12 17/10/08] klho83 : Thanks

[09:24:32 17/10/08] caprica1 : last day for me for a week. Lets see if I can finish the week

off on a nice note.

[09:24:35 17/10/08] caprica1 : Smile

[09:25:32 17/10/08] fxjedi : Are you scared of trading sometimes ? You are not alone...

[09:27:18 17/10/08] fxjedi : Because ...1/These times have been tough: "What's humbling is

that you could be the best trader, best investor, or best analyst in the world and this

market will still bring you to your knees," Mazzella said.

[09:28:18 17/10/08] fxjedi : "The crash of 1987 was a picnic compared to what traders are

seeing today," said Steve Claussen

[09:29:20 17/10/08] fxjedi : SHOW NO FEAR AND USE YOUR MOST IMPORTANT MUSCLE .....YOUR BRAIN

!!!

[09:31:29 17/10/08] Stalion : lol, cap....we'll finish the week on a positive note...we are

still on 3 winning days, 1 losing day...and today, friday, is up for grabs,,,//

[09:33:42 17/10/08] fxjedi : EUR/USD still in downtrend with longer-term target at 1.3000,

says Deutsche Securities senior FX analyst Koji Fukaya. Global hedge funds' moves to

liquidate investments in EUR-denominated assets to take profits or cut losses ahead of

end-November book closing, or just to give USD funds back to investors, likely to continue

for while, he says. "Funds' position-liquidation has more room to run. They're liquidating

various positions into dollars and giving them back to their clients" who prefer cash.

Near-term EUR/USD target 1.3300, then 1.3200; last 1.3467 on EBS. Adds USD/JPY likely

directionless in 99.00-103.00 range near-term, partly as Japan investors have stopped

repatriating overseas assets, watching to see if moves taken by developed economies

alleviate global financial turmoil; pair last 101.60

[09:33:59 17/10/08] caprica1 : it's always always nice to finish the week off with a winner

though

[09:34:33 17/10/08] fxjedi :

Wild swings too hot for traders who chase volatility | Special Coverage | Reuters

[09:35:03 17/10/08] masif1 : stal s/l?

[09:37:04 17/10/08] masif1 : anyone?

[09:37:24 17/10/08] Stalion : sl @ 1.7315...remember our pending stop order is still waiting

to be triggered...

[09:39:52 17/10/08] fxjedi : CHICAGO (Reuters) - Traders who have thrived on wild swings in

market prices for decades are now having trouble staying on the unprecedented rollercoaster

that is Wall Street.

[09:40:30 17/10/08] fxjedi : The jerky swings in the Dow Jones industrial average .DJI has

been compounded by the lack of liquidity, brought on by hedge funds which are being forced

to reduce leveraged positions

[09:40:31 17/10/08] caprica1 : masif dont forget to add your spreads to the stop figure

Smile

[09:41:00 17/10/08] masif1 : 1.7320?

[09:42:04 17/10/08] kokowater : Good morning everyone

[09:42:09 17/10/08] caprica1 : yep. Smile

[09:43:10 17/10/08] Stalion : morning koko...Tpack...

[09:43:30 17/10/08] klho83 : gm koko

[09:45:04 17/10/08] caprica1 : Stal have you used the buy/sell windows on the cable?

[09:45:07 17/10/08] Tpack : morning stal ,all

[09:48:31 17/10/08] Stalion : Have you or Did you,cap?

[09:51:19 17/10/08] kokowater : is that retracement on cable or a reverse, stal?

[09:53:39 17/10/08] Stalion : price retraced at the 60% buy window, and now, its moving

up...

[09:56:04 17/10/08] Stalion : any high impact news coming out from the gbp or usd?

[09:56:42 17/10/08] Stalion : right now, even price is looking for a good end to the

week...lol..

[09:56:48 17/10/08] caprica1 : I was just wondering as I was reading your post on the forum

here about how you calculate the buy/sell windows

[09:58:04 17/10/08] fxjedi : With Oil closing below 70 yesterday, ECB might well consider a

cut next month - provided oil holds to down.

[09:58:24 17/10/08] fxjedi : In between the short term 1.3420 support has held, as is short

term bit oversold, but larger term seems still positioned to down.

[09:58:44 17/10/08] fxjedi : Yet talks of Deutsche Bank problems today around might weigh,

but till It holds that level up I'll do nothing waiting the US stock today...dangerous

again, but supported somehow - yet the market doubts any clear plans before the US november

election ends.

[09:59:26 17/10/08] Stalion : ohh,okay..

[10:01:01 17/10/08] kokowater : nope.. it is a low impact news for EUR

[10:01:08 17/10/08] kokowater : there are 2 impacts news at 1:30pm and 2:55pm respectively

[10:02:17 17/10/08] Stalion : right now, if you look at the GBPUSD 15 min chart, you'll see

MACD negative divergence to price, which foretells a bearish move down south...

[10:04:19 17/10/08] Stalion : gu needs to break above its previous high in order to really

qualify its bullish move....so we might be slapping a pending buy order above that

high...cap...

[10:07:58 17/10/08] caprica1 : rite.

[10:09:06 17/10/08] kokowater : ok

[10:11:52 17/10/08] kokowater : i still believe in the short of cable..

[10:12:45 17/10/08] fxjedi : why, kokowater?

[10:14:07 17/10/08] kokowater : we have a good 123 formation on gu looking at 4hrs

[10:17:21 17/10/08] kokowater : i am still holding my short on eu too, i enter so late

becasue i never chekc my 15mins chart for a good entry...

[10:19:36 17/10/08] Stalion : soo?

[10:20:34 17/10/08] Stalion : what does a 123 formation on the 4hr chart got to do with

shorting the cable?

[10:20:37 17/10/08] kokowater : soo? how do you mean, stal?

[10:20:51 17/10/08] caprica1 : the direction bias for gu is still long on the 240 chart.

[10:24:40 17/10/08] Stalion : [10:11:52 17/10/08] kokowater : i still believe in the short

of cable..

[10:24:51 17/10/08] Stalion : [10:14:07 17/10/08] kokowater : we have a good 123 formation

on gu looking at 4hrs

[10:25:16 17/10/08] Stalion : can you please explain more,koko?

[10:27:10 17/10/08] Stalion : how do you mean the directional bias is still long on the 4hr

chart, cap? what are your reasons?

[10:27:28 17/10/08] kokowater : 123 formation on cable.. i am saying to support or buttress

our point.

[10:33:06 17/10/08] caprica1 : looking at the price movement. The HH and LL of the candle

bars.

[10:33:20 17/10/08] Stalion : you see, koko, good training in trading is very important if

you want to take this thing to the next level..a 1-2-3 formation on the gu does not support

shorting the cable...just because a 123 is a reversal pattern that foretells a long

position, not a short position...that was why am asking...they are kind of mutually

exclusive in a way...

[10:37:43 17/10/08] Stalion : can you be more specific,cap?

[10:38:53 17/10/08] caprica1 : I'm looking at the swing highs and swing lows.

[10:39:12 17/10/08] caprica1 : Obviously when it makes HH and HL price is going up up

[10:39:26 17/10/08] caprica1 : LL and LH price would be going down.

[10:39:56 17/10/08] caprica1 : LH and HL would mean a price range sideways.

[10:42:54 17/10/08] fxjedi : hey,caprica, i jus woke up this morning with a hangover.,please

dont add more to it,the headache,i mean,lol,.

[10:46:14 17/10/08] caprica1 : lol. Hangover? Self inflicted. No sympathy. lol

[10:50:04 17/10/08] fxjedi : Mercy!

[10:50:32 17/10/08] caprica1 : lol

[10:50:42 17/10/08] fxjedi : Sleep

[10:52:39 17/10/08] Stalion : We also put a buy stop on the cable @ 1.7385...1st target @

1.7425...sl @ 1.7320...

[10:53:08 17/10/08] Stalion : brb

[11:01:33 17/10/08] caprica1 : second target is wrong stal lol

[11:04:23 17/10/08] masif1 : what 2nd target?

[11:52:41 17/10/08] enolase : just taken tme to read all the posts

[13:54:31 17/10/08] enolase : today's trading is mostly range bound

[15:41:56 17/10/08] masif1 : first target hit on the short :clap:

[15:42:35 17/10/08] masif1 : cheers

[15:43:27 17/10/08] masif1 : 30pips today Wink

 

[forexgreenland]

[08:40:46 20/10/08] enolase : Hi Stal

[08:41:03 20/10/08] Stalion : hi enolase

[08:41:34 20/10/08] Stalion : sorry, woke up late today....had a lot to do...

[08:42:11 20/10/08] Stalion : looks like cable is moving up this morning..

[08:42:12 20/10/08] enolase : no probs

[08:47:13 20/10/08] enolase : well, I guess we just watch for price acions today

[08:47:34 20/10/08] enolase : action bias for GBPUSD on actionforex.com is up

[08:48:47 20/10/08] enolase : ok

[08:49:54 20/10/08] Stalion : we put a buy stop on gu @ 1.7500.1st target @ 1.7525...2nd

target 1.7575

[08:51:06 20/10/08] Stalion : sl @ 1.7425.....take half profits when on +20 pips in your

favour..

[08:51:17 20/10/08] enolase : price has already taken off

[08:51:29 20/10/08] enolase : i am entering right now at market price

[08:52:17 20/10/08] Stalion : why not put a buy limit @ 1.7500

[08:52:23 20/10/08] enolase : ok

[08:52:37 20/10/08] enolase : why a 75 pip stop loss?

[08:55:18 20/10/08] Stalion : 1 because of recent market volatility....enolase...2 because

our total target is 75 pips...so its a 1:1 risk to reward ratio..

[08:56:19 20/10/08] enolase : ok

[08:56:25 20/10/08] Stalion : any high impact news coming out from gbp today?

[08:58:05 20/10/08] masif1 : morning gentlemen

[08:58:35 20/10/08] enolase : none from waht I can see on my Economic calendar

[09:00:21 20/10/08] masif1 : gu @ 1.7500.1st target @ 1.7225 - did u mean 1.7525?

[09:01:43 20/10/08] enolase : indeed the only active News for the week are:

[09:01:53 20/10/08] enolase : BoC Interest rate decision tomorrow

[09:02:11 20/10/08] enolase : BoE Minutes and RBNZ Interest rate decision on Wed

[09:02:20 20/10/08] enolase : UK retail Sales on Thurs

[09:02:35 20/10/08] enolase : and UK GDP as well as BoC CPI on Friday

[09:02:58 20/10/08] Stalion : hi there masif

[09:03:02 20/10/08] enolase : and of course the Fed Chairman testifies tomorrow: may have

some impact on the USD

[09:03:41 20/10/08] masif1 : hi stal

[09:03:55 20/10/08] masif1 : has that gu call triggered?

[09:04:08 20/10/08] masif1 : i hope iut hasnt as gu going down

[09:04:46 20/10/08] enolase : actually Bernanke testifies today

[09:05:07 20/10/08] enolase : so watch out for a dovish statement that may impact the USD

[09:11:14 20/10/08] fxjedi : helloo all

[09:13:34 20/10/08] fxjedi : did i mis any alerts?

[09:16:21 20/10/08] fxjedi : ohh,seen it

[09:42:21 20/10/08] Stalion : looks like gu is still holding up...

[09:44:01 20/10/08] fxjedi : hi stal

[09:44:32 20/10/08] fxjedi : the news was quite in favor of gu,dont you think?

[09:45:59 20/10/08] Stalion : yes,jedi....but only time will tell

[09:56:55 20/10/08] Stalion : hmmmm....

[10:07:01 20/10/08] fxjedi : its like we are on No Man's Land

[10:17:30 20/10/08] masif1 : cable long has triggered

[11:23:46 20/10/08] enolase : waz up?

[11:46:48 20/10/08] Stalion : we got stopped out on the buy order for the gu...

[11:47:02 20/10/08] Stalion : 1 strike out..

[11:47:56 20/10/08] Stalion : so we sell gbpusd on current market price @ 1.7435....1st

target @ 1.7485

[11:49:52 20/10/08] Stalion : sl @ 1.7480

[11:52:32 20/10/08] Stalion : sorry, typo...1st target @ 1.7385

[12:00:25 20/10/08] Stalion : 2nd target on the short side @ 1.7331

[12:03:09 20/10/08] klho83 : Hi Stal

[12:04:21 20/10/08] enolase : yes

[12:05:48 20/10/08] enolase : the signal appeared late

[12:06:23 20/10/08] enolase : on the chat box

[12:06:46 20/10/08] enolase : i think u need to look into it. Not the first time I have

noticed it

[12:08:59 20/10/08] fxjedi : 1st taget hi

[12:09:09 20/10/08] fxjedi : hit

[12:10:09 20/10/08] fxjedi : but the alert didnt come in late,enolase, wen i logged in, no

one was around on the chatbox

[12:10:58 20/10/08] Stalion : hi jedi

[12:13:24 20/10/08] fxjedi : do i put a trailing stop now,stallion?

[12:15:29 20/10/08] Stalion : yes, you are right, jedi...when I posted the short call, it

was on record that none was around...price can move any direction at any moment..so as

intraday traders, we have to be around to adjust and take advantage of price movements..

[12:15:58 20/10/08] Stalion : a 15 pip trailing stop would be prudent, man

[12:16:09 20/10/08] enolase : maybe it was my network

[12:16:37 20/10/08] enolase : anyway, i entered when the price retraced to 1.7410, so i have

no complaints

[12:16:45 20/10/08] enolase : i am also short on the EURJPY

[12:19:39 20/10/08] enolase : and i am also in cruise control on EURJPY

[12:19:41 20/10/08] enolase : wel, i have taken profit in GBPUSD

[12:20:29 20/10/08] enolase : looks like the JPY is gaining some control over the majors,

but we watch and see

[12:24:56 20/10/08] enolase : what a bam bam on EURJPY!

[12:25:13 20/10/08] Stalion : cool...

[12:25:21 20/10/08] enolase : my GU charts froze

[12:25:27 20/10/08] enolase : so i decided not to go further

[12:25:49 20/10/08] enolase : but i just gained some 70 pips on EURJPY

[12:26:09 20/10/08] enolase : at least i have recovered from the earlier GU stop-out

[12:29:26 20/10/08] fxjedi : i made 87 pips from the gu short,putting a trailing stop for

2nd target

[12:29:52 20/10/08] Stalion : thats nice

[13:05:56 20/10/08] enolase : GU dey retrace o!

[13:06:23 20/10/08] enolase : but let's watch it

[13:42:54 20/10/08] masif1 : damn got stopped out on the long and missed the short call Sad

[13:43:29 20/10/08] masif1 : how did you do on the short? make up the loss on the long?

[14:14:32 20/10/08] enolase : masif my man

[14:14:58 20/10/08] enolase : the way the market has been in the last three months, the SET

AND FORGET Strategy is not the best anymore

[14:15:09 20/10/08] enolase : u need to be on your screen

[14:19:53 20/10/08] enolase : the GU 2nd target was triggered

[14:21:17 20/10/08] enolase : so i lost 75 pips on the Long GU trade, then gained 80pips

from the Short trade, then another 70 pips from Short EURJPY

[14:21:27 20/10/08] enolase : not a bad start to the week

[14:26:04 20/10/08] masif1 : WELL DONE enoloase

[14:26:13 20/10/08] masif1 : i see what you mean

[14:26:34 20/10/08] masif1 : if you had put a trailing s/l on the short you'd be laughing

bro

[14:32:58 20/10/08] enolase : looks like the dollar and yen are set for more gains

[14:33:37 20/10/08] enolase : i am in short on the EURUSD and EURJPY

[14:34:53 20/10/08] enolase : combined i am 90pips in profit right now

[14:36:10 20/10/08] enolase : i see EURJPY hitting 135.00

[14:36:54 20/10/08] enolase : but let's see

[15:02:59 20/10/08] masif1 : about 200+ pips could have been made on the cable today if

stals alert was taken

[15:03:12 20/10/08] masif1 : the short alert

[15:03:21 20/10/08] masif1 : minus the 80pips loss

[15:03:32 20/10/08] masif1 : 120+ is brilliant start to the week!

[15:07:29 20/10/08] enolase : Bernanke has started his House testimony

[15:07:54 20/10/08] enolase : "supports a 2nd stimulus to support the economy"

[15:10:07 20/10/08] enolase : take a look at the doolar gains over the CHF

[15:58:44 20/10/08] enolase : wow

[15:58:49 20/10/08] enolase : what a day

[15:59:50 20/10/08] enolase : i have close to 250 pips in the bag today. i am out for the

day.

[15:59:59 20/10/08] enolase : Better to leave when the ovation is loudest

[16:02:57 20/10/08] enolase : thanks Stallion. See u all tomorrow

[16:03:13 20/10/08] enolase : today's experience has shown one thing:

[16:03:33 20/10/08] enolase : at this period, it pays to stay glued to your screen so you

don;t miss great setups and good trades

[16:03:42 20/10/08]Stalion : +300 pips, +300 minilot, +3000 standard in less than 6hrs

 

[forexgreenland]

The Exegesis

Forexgreenland, what is your point in your post below? Are we to

expect spam in the future from you?

I'm in agreement with 4x..

Forexgreenland.. Please do not post your IM messages in the Forum. Understandably..We see

you caught a Drop. This one could just have been luck.. What "Signal" did you use to

catch the drop? That might be more of a learning experience for the people in the

Forum

I come in peace,mon amis...

On the contrary, your discussion on the Welles Wilder book ''The Delta Phenomenon or the

Hidden Order In All Markets'',piqued my curiousity.. Jim Sloman, the genius engineer that

discovered it and shared it with Welles, talked about Delta turning points and where and

when it should be in the markets. Though he claims Delta is the basis of all market

movements, there are NO exact exit and entries to take advantage of those predetermined

Delta turning points..
''The secret can be defined for all five Delta time frames by just eighteen words.
Markets repeat directly or inversely relative to the total interaction of the sun, the moon,

and the earth.
For the Intermediate Term Delta time frame, each colored line is on the
date of each FULL MOON!
We can define the Intermediate Term Delta in nine words.
Markets repeat directly or inversely every four lunar
months.
That is the height of simplicity. It is a truism. It has held up as far back
in history as there is obtainable data. And yet, it has eluded everyone who
ever tried to find it . . . the real underlying order in markets . . . until it was
discovered by Jim Sloman in the summer of 1983.
Now, even though we know the Delta order is perfect, unfortunately,for me, the exact date of

the high and the exact date of the low (of thehigh/low rotation) is not perfect. If it were,

you would not be reading this book and I would have, by now, accumulated more wealth than

anyone else in this world!
So. it is important to understand the difference between perfect order and perfect accuracy.

Perfect order involves a phenomenon that repeats exactly within a defined reference. In this

case the reference is the perfectinteraction of the sun, moon and earth.
Perfect accuracy defines the accuracy within the order. In this case,
the accuracy is that of the turning points. That is, how close a particular turning point

will come to a predicted date. Obviously, it is not possible for perfect accuracy to exist

within the perfect order of markets.'' Quote from the Delta Phenomenon Book

That is where I come in, my friends..

Originally posted by Hoof:
[QB] Hi. This is my first post and I want to try get some answers to the questions I have

about this thread. It would appear as though the 60% "window" does in fact appear to get

slightly more hits than the 61.8 fib. Why exactly is beyond me but it does appear that way.

We will see how long that lasts.

I do not know how you are calculating targets but I was able to pick up 70 pips on GBP/USD

but would like to know if target prices are established from support or resistance or if

there is in fact a calculation that is being used?

Are you selling a service? Your website and forum suggests that you are selling a service.

[/QB]

Helloo Hoof,
It is true the 60% window got more ''hits'' than the 61.8 fib..and it lasts as long as

there's a forex market..
There are calculations being used,which also takes cognizance of support and resistance

levels..The CHART PATTERN RECOGNITION AND PRICE PROJECTION STRATEGY is a conglomeration of

diverse and dynamic trading techniques that is synergetically combustulated to form a

holistic winning formula or ''edge''.
Please dont get me wrong, Hoof....I'm not selling out...especially in the art of trading..
Welles Wilder of the ''Delta Phenomenon'' sells his books and services..Steve Nison ,Tom De

Mark,Dr Alexander Elder, Dr Van Tharp,etc..sells their services and manuals,Warren Buffet

sells his services through Berkshire Hathaway,Bill Gates through Microsoft..etc..Does that

mean they are sell outs or any lesser than the trading public? I dont really think so..else

how would anyone get to benefit from their insights and experiences?
They are still true to their art..which only makes them better..Trading is an Art,Science ,

as well as Business, and should be treated as such..

Hi forexgreenland, is it possible for me to join your littel club...

please... although im a noob i want to learn from you guys please please

master

[13:45:33 21/10/08] Stalion : helloo everyone

[13:45:43 21/10/08] skipper : Hi

[13:45:46 21/10/08] Stalion : hi masif...skipper, tundope..

[13:46:27 21/10/08] Stalion : our long gu order didnt go according to plan early this

morning, so we cut it off and say next..

[13:48:27 21/10/08] Stalion : we put a sell pending order on gbpusd @ 1.6955, 1st target @

1.6919...

[13:49:24 21/10/08] Stalion : sl@ 1.7108

[13:51:57 21/10/08] skipper : hope your order hits & I'm still with you on the journey down

[13:52:26 21/10/08] klho83 : Hi Stal

[13:52:51 21/10/08] Stalion : hi K

[13:53:50 21/10/08] klho83 : Stopped for GU long trade during asian session

[14:01:43 21/10/08] masif1 : coolio

[14:03:56 21/10/08] tundope : hi stal

[14:06:51 21/10/08] Stalion : OKAY

[14:21:48 21/10/08] Stalion : price almost brushing our sell stop order

[14:38:28 21/10/08] Stalion : hi enolase..

[14:40:06 21/10/08] enolase : i am on the sidelines for now

[14:40:20 21/10/08] enolase : the BoC interest rate decision is a tricky one

[14:40:40 21/10/08] Stalion : hi fxmonkey...

[14:40:58 21/10/08] enolase : market expecting a 50 basis points cut, so movements downward

may have been factored in

[14:41:49 21/10/08] didi : it's not been too rosy.i once traded with no stop loss and lost

1'400 in 3 mins

[14:42:10 21/10/08] enolase : CAD may gain if there is only a 25 basis points cut or no cut

at all, so I will just watch it

[14:42:48 21/10/08] fxjedi : GBP/USD : The initial downside targeting points are 1.6946 -

1.6957. The market may tackle the lower barrier of the daily cycle at 1.6832 // 1.6873 later

in the day.

[14:43:31 21/10/08] Stalion : hmmm...

[14:44:11 21/10/08] Stalion : what was the name of the strategy you used?

[14:45:05 21/10/08] enolase : $1,400 in 3 mins?

[14:45:53 21/10/08] didi : i try to keep it simple,just some ema's,rsi and stoch.like i said

i'm new
[14:46:25 21/10/08] Stalion : yes, eno, the USDCAD and AU/USD may be worth watching this

afternoon....I hope the news gets to have a high impact

[14:47:41 21/10/08] Stalion : no probs....but at the end, didi...its not more about the

right strategy than risk management...they both are very important...

[14:48:17 21/10/08] enolase : but like Stal said, risk management is very important

[14:48:44 21/10/08] enolase : i learnt these lessons the very hard way last year in my early

trading

[14:49:22 21/10/08] didi : believe me i now know d importance of risk management

[14:49:52 21/10/08] Stalion : if 1400 was like 2 to 5% of your total equity that you lost in

3 mins, then you wouldnt be that worried, would you?

[14:49:54 21/10/08] enolase : one thing i learnt from Stalion

[14:50:04 21/10/08] enolase : THERE ARE ALWAYS OPPORTUNITIES IN THE MARKET

[14:50:15 21/10/08] enolase : u miss one, wait. others will come

[14:51:51 21/10/08] didi : for u trades how much stop loss do u recomend

[14:52:11 21/10/08] Stalion : but the main challenges is Do You See Them and Take The Trade?

[14:54:29 21/10/08] didi : the problem now is after that loss i lost a lot of confidence and

i've only just started trading again.and all i do is scalp for 5 pips here and there

[14:55:39 21/10/08] Stalion : earlier this year, a 40 pip stop loss was fitting...but with

the recent volatility in the markets,price tends to move more...check the average range of a

candle stick bar, from high to low

[14:58:20 21/10/08] Stalion : so, now,placing stops at support and resistance areas are more

prudent,,,especially with recent price movements...

[15:06:00 21/10/08] Stalion : Tuesday October 21, 2008 (9:00am NY Time) CA BOC Bank Rate

Forecast 2.00% Previous 2.50% Bank of Canada is expected to cut rates down to 2.00%. If we

get a as expected rate decision, or 2.00%, there would be no trade. However, if BOC decides

to cut only by 0.25% and leave rates at 2.25%, then we would SELL USD/CAD immediately; if

BOC cuts rate to 1.75%, we would BUY USD/CAD. However, it is very unlikely for BOC to

surprise the market, especially in today's volatile market.

[15:07:46 21/10/08] fxjedi : so do we sell usdcad as it came out on 0.25 basis points, Stal?

[15:11:36 21/10/08] Stalion : not yet, jedi

[15:12:58 21/10/08] Stalion : we put a buy stop on USDCAD @ 1.2100....1st target @ 1.2150

[15:13:53 21/10/08] enolase : yes jedi

[15:13:58 21/10/08] enolase : not yet

[15:14:15 21/10/08] enolase : there is a dovish statement made by the BoC

[15:15:31 21/10/08] enolase : which will likely make the CAD pairs to follow recent trends

[15:15:38 21/10/08] Stalion : sl 1.2050

[15:16:38 21/10/08] enolase : order should be 15 pips in profit now

[15:23:44 21/10/08] Stalion : lets wait and see,enolase

[15:39:57 21/10/08] Stalion : there is resistance at the 1.2128 region

[15:41:47 21/10/08] Stalion : so remember guys, we have a sell pending order on the gbpusd

and a buy pending order on the usdcad...

[15:47:52 21/10/08] masif1 : thanks stal

[15:51:17 21/10/08] masif1 : uscad buy triggered

[17:34:15 21/10/08] masif1 : target hit!

[17:34:27 21/10/08] masif1 : 50pips made on the USDCAD

[17:34:53 21/10/08] masif1 : and still going up

[17:35:08 21/10/08] masif1 : damn i knew i should have put a trailing s/l

[17:54:24 21/10/08] masif1 : first target hit on the cable short!

[17:54:28 21/10/08] masif1 : 40pips made there

[17:54:35 21/10/08] masif1 : and still going down

[17:54:45 21/10/08] masif1 : damn wish i had traling s/l on that as well

[21:24:34 21/10/08] skipper : I love my cable short! Making up for a bad week last week.

[21:25:37 21/10/08] skipper : it was a good call

[07:58:24 22/10/08] enolase : had to go out in the afternoon and came back to see what i missed

[07:59:10 22/10/08] enolase : but no problem: i decided to stay awake for the Asian session

and made more pips than i have ever made in a single day of trading

[08:58:44 22/10/08] enolase : are u still on your GU short Skipper?

[08:59:35 22/10/08] pipster1 : Yes indeed. Interesting times

[08:59:43 22/10/08] enolase : made $1500

[08:59:58 22/10/08] pipster1 : Very Good

[09:01:12 22/10/08] skipper : I'm still in my short from yeaterday on cable

[09:01:26 22/10/08] skipper : I've never seen it move like that before

[09:01:37 22/10/08] skipper : and for ONCE I was on it!

[09:02:29 22/10/08] pipster1 : I am contrarian so hard for me to go with trend

[09:02:48 22/10/08] pipster1 : Hard to believe this dollar strength

[09:03:08 22/10/08] enolase : 1000 pips from Monday morning: that has been the story of the

GU move

 

[forexgreenland]

[17:56:09 22/10/08] Stalion : First we put a sell stop on gbpusd @ 1.6090...1st target @

1.6050, 2nd target @1.5964
[09:47:23 23/10/08] Stalion : 1.6140 sl

are u saying i should pay for ur help?

Hi Xtravagant, am saying that if you are interested in procuring my services, I'd be glad

to help in your trading needs...It all depends on the VALUE percieved and derived...in this

case, how to make money from practical live trading and how you value the strategy to take

you there..Traders that ask questions or clarications on this thread are not paying for

anything because this forum and thread is free..
What I'm giving out freely on this thread, free alerts, free transcripts of live

conversations in forex trading rooms, free advice on trading strategies,psychology and money

management are all free..You hardly get these real life trading concepts from free resources

on the internet...neither on books in stores or ebay..
As a professional trader and forex mentor,I ask you.. what is your time worth? In 24 hours a

day, what time management principles are you adhering to? Do you give of yourself to so many

people and activities that you deplete and dissipate yourself in the process? Please read

the 80/20 Rule by Brian Tracy..and 7 Habits Of Highly Successful People by Steve Covey..

In essence, you dont pay anything here on this free and open forum...

a very interesting chat & screens
thx

Thanks, IndigoSun

Whats up everybody...where is this chatroom located?

Much Love,

Dubs

Hi dubs07, just google ''forexgreenland''..

Originally posted by martin01:
[QB] I hope this is the best place to discuss on forex and forex related tips and strategies

[/QB]

Hi Martin01..I sure hope so too...lol..

I like the idea of thinking about it from a psychological spin. Its

like everything in life - when your properly in focus, you can achieve almost anything. And

when your not - somertimes it seems like you'd be better off spending the rest of the day

under the covers - where you cant do any more damage!

Yea,hersko915, its all about focus...focus on your trading goals and objectives,which also

translates to life itself...but you sure cant do that when you are scattered all over the

place...or dissipating energy on low value activities or destructive tendencies..
You got an argumentative girlfriend?You cut her off..A nagging wife?Try your best to achieve

harmony and understanding with her..Like going for binge drinking regularly in bars and

pubs...No No...Like flaring off at every single percieved provocation? Chill..
Like you right said,Its all about focus, mon ami..

[19:10:17 23/10/08] Stalion : hi fellas

[19:10:45 23/10/08] Stalion : hope you guys took the 1st 40 pips of our gbpusd short order

[19:13:44 23/10/08] Stalion : since it looks like gbpusd is retracing upwards, we put a buy

stop on the cable @ 1.6170...1st target @ 1.6210..2nd target @ 1.6261...

[19:15:44 23/10/08] Stalion : sl @ 1.6100....take half profits when +20 pips in

profits..while shifting sl to entry point...

[19:20:54 23/10/08] Stalion : our sell pending order on cable still stands...

 

[forexgreenland]

The Forex Exegesis

[18:28:57 22/10/08] Stalion : hi skipper

[18:29:33 22/10/08] Stalion : enolase

[18:30:14 22/10/08] enolase : oh yeah

[18:30:21 22/10/08] enolase : hi

[18:30:36 22/10/08] enolase : the market is range bound

[18:31:50 22/10/08] enolase : anyone trying to be a hero now will get bombed!

[18:33:10 22/10/08] enolase : masif, what u experienced is a classical case of greed

[18:33:40 22/10/08] enolase : if u had just taken what you got and went home for another

day, u would have been cool

[18:34:24 22/10/08] Stalion : hmmmm....

[18:35:40 22/10/08] Stalion : 1st picking was okay...den next move is to take half lot

first...then shift stop loss to entry point...with that, you are ''playing with house

money''..

[18:36:21 22/10/08] enolase : Stal, i wanted to ask

[18:40:19 22/10/08] enolase : do u take multiple positions? because i do not know how you

can close half lots from an existing trade?

[18:41:56 22/10/08] enolase : i would be glad if you can explain it to me

[18:54:59 22/10/08] Stalion : no probs

[18:56:09 22/10/08] Stalion : First we put a sell stop on gbpusd @ 1.6090...1st target @

1.6050, 2nd target @1.5964

[18:57:47 22/10/08] Stalion : if you are taking 1 minilot to trade, then taking half profits

means closing your trade at 0.5...then allowing the other half to stay for the next target

[18:59:06 22/10/08] Stalion : if it were 2 minilots(0.2), then you close your trade at

0.1(half profits), and allow the other half lot(1 minilot) to remain for the second target

[10:24:22 23/10/08] Stalion : price have been on a range since yesterday...so market is flat

for now

[10:29:14 23/10/08] enolase : hi everyone

[10:29:17 23/10/08] Stalion : our pending buy and sell orders still stands...remember to

take half profits when trade is on +20 pips ahead..then shifting sl to entry...standard risk

mgt procedure

[10:30:46 23/10/08] enolase : ok

[10:30:57 23/10/08] enolase : i have understood the explanation of yesterday

[10:41:46 23/10/08] Stalion : [17:56:09 22/10/08] Stalion : First we put a sell stop on

gbpusd @ 1.6090...1st target @ 1.6050, 2nd target @1.5964

[10:44:32 23/10/08] Stalion : hi skipper

[10:45:06 23/10/08] enolase : what is the stop loss for the second order?

[10:47:23 23/10/08] Stalion : 1.6140 sl

[10:48:09 23/10/08] masif1 : is that two alerts?

[10:48:19 23/10/08] masif1 : one for a buy and one for a sell?

[10:48:39 23/10/08] fxjedi : hi masif,yes two pending orders leftovers

[11:38:50 23/10/08] fxjedi : market's slow

[12:32:22 23/10/08] masif1 : it looks like a consolidating day today for the markets

[13:40:19 23/10/08] djcarlos : HI

[14:09:05 23/10/08] klho83 : hi

[14:14:11 23/10/08] djcarlos : I open position to USD/JPY

[14:18:19 23/10/08] djcarlos : HI pipster

[14:33:08 23/10/08] masif1 : short triggered

[14:37:03 23/10/08] masif1 : fist target hit

[14:37:07 23/10/08] masif1 : 40pips in the bag!

[14:37:18 23/10/08] masif1 : didnt get a chance to put a trailing s/l

[14:39:31 23/10/08] djcarlos : I was open USD/JPY and AUD/JPY

[14:41:47 23/10/08] djcarlos : Its having a sell rally

[14:58:05 23/10/08] Stalion : hope you shifted your sl to entry after first target was hit,

masif...

[15:05:08 23/10/08] masif1 : hi stal

[15:05:22 23/10/08] masif1 : didnt get a chance stal

[15:05:31 23/10/08] masif1 : just took the 40pips

[15:05:34 23/10/08] masif1 : happy with that

[15:06:09 23/10/08] masif1 : i have put a reentry but may take it off as don;t want to do

the same mistake i did yesterday - greed!

[15:58:04 23/10/08] enolase : Starcomms did me in again

[15:58:25 23/10/08] enolase : network went just as I placed 2 orders for EURUSD and GBPJPY

[15:58:53 23/10/08] enolase : only for the network to return and I found that after being

almost 50 pips in profit in both, the price retraced on me

[15:59:04 23/10/08] enolase : but i can make do with the GU short

[15:59:39 23/10/08] enolase : i seriously have to consider either Reltel or Visafone

[16:00:27 23/10/08] djcarlos : I open bad orders in USD/JPY and AUD/JPY,

[20:10:17 23/10/08] Stalion : hi fellas

[20:10:45 23/10/08] Stalion : hope you guys took the 1st 40 pips of our gbpusd short order

[20:13:44 23/10/08] Stalion : since it looks like gbpusd is retracing upwards, we put a buy

stop on the cable @ 1.6170...1st target @ 1.6210..2nd target @ 1.6261...

[20:15:44 23/10/08] Stalion : sl @ 1.6100....take half profits when +20 pips in

profits..while shifting sl to entry point...

[20:20:54 23/10/08] Stalion : our sell pending order on cable still stands...

[22:31:52 23/10/08] Stalion : target hit at a high of 1.6263, 2 pips away from our 2nd

target of 1.6261..

[22:32:49 23/10/08] Stalion : shift stop loss to entry while putting a trailing stop on

price...from now, we are ''playing with house money''..

[23:09:26 23/10/08] fxjedi : hi stal, my 25 pip trailing is on,any idea on 3rd target?

[23:09:55 23/10/08] Stalion : 3rd target @ 1.6315

[23:10:19 23/10/08] Stalion : hi skipper

[23:11:01 23/10/08] fxjedi : okay

[23:15:09 23/10/08] fxjedi : geez,3rd target hit

[23:16:08 23/10/08] skipper : Hi stalion - I always seem to just miss you

[23:18:30 23/10/08] Stalion : sorry,man...being quite busy for a while

[23:19:37 23/10/08] fxjedi : should we be looking for a 4th target,stal?sorry if i'm been

greedy,lol

[22:21:54 23/10/08] Stalion : just keep your trailing stop on...like am doing...if there's

gonna be a 4th target, its going to get to 1.6390...after breaking resistance at 1.6346

[22:22:32 23/10/08] fxjedi : Black Friday!!

[22:23:09 23/10/08] skipper : stalion - whats the difference in pips between current price &

your trailing stop

[22:23:32 23/10/08] skipper : I always screw up trailing stops - too wide or too tight!

[22:26:01 23/10/08] Stalion : well, dats another lesson you can chalk in to ur trading

experience,skipper...a 15 to 35 pip trailing stop loss is okay...

[22:26:03 23/10/08] Stalion : brb

[22:27:44 23/10/08] skipper : thanks

[22:29:01 23/10/08] djcarlos : I, today was the worse day for me... I was lost

Stocks dive on belief global recession is at hand - Yahoo! News

 

[forexgreenland]

F##k you Stallion
Hey
F##K YOU!
B.S


help wanted
dear stallion,
I would like just to check with you if do you offer any monthly
subscription to your service,because I am realy exited to be one of
your friend, and it doesn't mutter how much you are going to charge me
per month, and thank you in advance. I look forward to hear from you
again.
N

Mastery Coaching Program
Hello Mr.Stallion.I'd like to know few more detals about your Mastery Coaching Program.I

drained my account 4 times.Nothing huge but I still feel the pain.It's not funny ! This is a

hard business to do if you do not know what you are doing.I do not want to fail anymore.I'm

doing OK right now with my MiniAcc,but I need to know from professional Forex Trader like

You how I can be one of the best?I do not trust to any those forex gurus,none of them helped

me and I've pay too mutch for their services,all useless.I'd like to learn from you how to

win in the currency markets.Do I have to be at home all day long to try yours one week

intensive forex programe?I have day job 8 AM to 6 PM EAST time.I live in Canada and only can

trade London open session.You are really right about this one,this is Art and Science of

trading.I see how you are doing this but I do not understand that.Please let me know more

detals about your service.Thank You.
Regards,J K
iCanada






[09:42:45 24/10/08] Stalion : Helloo everyone

[09:43:21 24/10/08] djcarlos : HI everyone from Chile in the end of the world 5.32 am here

[09:44:53 24/10/08] klho83 : helloo stal

[09:46:06 24/10/08] fxjedi : Diod you get the text alert yesternight,Kloh83

[09:30:20 24/10/08] fxjedi : am almost 200 pips in profits

[09:32:58 24/10/08] masif1 :damn i missed the long call last night

[09:33:15 24/10/08] Stalion : yes I sent out a short call on the cable last nite..anyone

that got it should write it out

[09:33:20 24/10/08] masif1 : how many pips did I miss?

[09:33:48 24/10/08] masif1 : also whay are all the currencies dropped?

[09:34:05 24/10/08] masif1 :BIG TIME! this morning

[09:36:27 24/10/08] klho83 : i got with pips.thanks stal

[10:40:58 24/10/08] fxjedi : okay here's what i got,we put a sell stop on gu @ 16215, 1st

target @ 16170, sl @ 16291,take half profits wen 20 pips ahead, den shift sl to entry

[09:42:07 24/10/08] fxjedi : and lucky me, the other pending sell order you said still

stands kicked in,having like 2 minilots with a trailing stop on,very nice, thanks stal

[09:45:13 24/10/08] masif1 : whoever took that call would be +700 pips by now

[09:46:55 24/10/08] masif1 : damn damn damn i missed another one!

[10:00:58 24/10/08] Stalion : cool

[10:01:05 24/10/08] fxjedi : i think i should jus go back to bed and sleep, stallion, am

feeling dizzy,lol

[10:02:39 24/10/08] masif1 : fxjedi you could retire for the whole month of nov from this

call alone

[10:02:55 24/10/08] masif1 : well done guys

[10:03:21 24/10/08] masif1 : by the way, anyone know what happened?

[10:04:06 24/10/08] Stalion : not sure,masif...just followed my technical analysis..and

voila..another one bites the dust..

[10:05:09 24/10/08] fxjedi : lol stal, in this crazy market, you make it seem so easy,dont

you think of volatility?

[10:06:22 24/10/08] Stalion : I do, man...but I follow my trading plan...and plan my

trading..

[10:06:49 24/10/08] Stalion : did you put a trailing stop on your cable short, K?

[10:15:44 24/10/08] skipper : morning- looks like you had a good night!

[10:16:15 24/10/08] djcarlos : Hi Stal,06.14a.m in chile, still in bed

[10:17:01 24/10/08] fxjedi : lol,dats the understatement of the day,we had a wild night!


[10:19:38 24/10/08] didi : morning stal.u guys have good trades this week,unfortunately

didnt take part in any,
[10:20:11 24/10/08] klho83 : No.it too fast to reach first target and hit all


[10:25:44 24/10/08] Stalion : Hi enolase

[10:27:16 24/10/08] Stalion : to be on the safe side, we put a sell stop on gbpusd @ 1.5430,

1st target @ 1.5390..stop loss @ 1.5514

[10:30:01 24/10/08] enolase : helloo all
[
10:33:22 24/10/08] klho83 : too fast hit the target !

[10:34:01 24/10/08] djcarlos : nex target???

[10:35:02 24/10/08] Stalion : Always remember yourtrailing stops!

[10:36:17 24/10/08] Stalion : 1.5220

[10:37:10 24/10/08] Stalion : this is real time trading, guys..no gimmicks..no fluffs..you

jus gotta be fast in intraday trading..

[10:38:45 24/10/08] didi : is it too late to enter the trade? was away for a while

[10:40:58 24/10/08] fxjedi : dunno

[10:41:47 24/10/08] didi : stal what do u think

[10:43:14 24/10/08] klho83 : Please send me text,I will away for an hour .thanks Stal..

[10:43:28 24/10/08] Stalion : Dont Catch Falling Knives

[10:43:53 24/10/08] skipper : Good call Stalion - took the signal - trailing stop on

[10:43:59 24/10/08] klho83 : if there is a trade signal..

[10:45:05 24/10/08] Stalion : you could put a sell stop at 1.5260...didi...

[10:45:11 24/10/08] Stalion : okay, K

[10:47:13 24/10/08] fxjedi : Minute chart will be like daychat...as i expected...Whats new to me is that 10 second chart is soon like daychart

[10:49:21 24/10/08] Stalion : lol...thats volatility for you, mon ami..

[10:50:01 24/10/08] Stalion : yeah...and due to huge volatility nowadays, a 40 pip stop loss is history...

[10:50:14 24/10/08] Stalion : thats where risk mgt comes in..

[10:51:22 24/10/08] Stalion : you gotta use micro lots, if possible, in order to accomodate our larger stop loss,so as to be able to fall within the 2 to 5% risk range

[10:52:42 24/10/08] fxjedi : Anyone else experiencing heart palpitations? LOL

[10:52:59 24/10/08] fxjedi : if the ranges get any bigger on my toy, I'm going to need new reading glasses to see the numbers

[10:55:04 24/10/08] Stalion : lol

[10:55:56 24/10/08] Stalion : assuming you have a 500 dollar account...what is 2% of 500 dollars,didi?

[10:56:40 24/10/08] didi : 10

[11:01:07 24/10/08] didi : am i right stal

[11:02:24 24/10/08] Stalion : that 2% is what makes you last 50 times in ur 500 dollar account in case of a losing streak...at $10 risk per trade, it falls within that range..

[11:03:30 24/10/08] Stalion : so in order to accomodate an 100 pip sl, you need not 1 minilot...but 1 micro lot..

[11:04:48 24/10/08] didi : how much is 1 micro lot

[11:08:35 24/10/08] fxjedi : i think 1 standard lot is $10, 1 minilot is $1, and 1 microlot is $0.1

[11:10:03 24/10/08] Stalion : something like that,jedi...depending on the curency pairs...

[11:11:28 24/10/08] Stalion : so,didi...i know you might think microlots are small..but

remember forex is not a get quick rich scheme..a $100 profit in 3 mins on a $500 account

sounds sexy in

[11:12:36 24/10/08] Stalion : trading...but a $100 loss on a $500 account doesnt...that means you have only 4 trades to go,if on a 100 dollar stop loss...

[11:15:03 24/10/08] Stalion : see what I meant by not catching falling knives?if you had entered at that time you said you wanted to, price has now retraced upwards like 200 pips..but placing a sell stop at 1.5260 would be more prudent

[11:31:42 24/10/08] fxjedi : trailing stop cancelled out

[11:35:11 24/10/08] masif1 : lol

[11:35:20 24/10/08] masif1 : catching falling knives!

[11:35:34 24/10/08] masif1 : very good metaphor

[14:47:08 24/10/08] Stalion : hope you guys made some money from our short gu call...though it hit target lightening fast, it was all good..

[14:48:22 24/10/08] Stalion : so we see price moving up, so we put a buy stop on GBPUSD @ 1.5688, 1st target @ 1.5755, 2nd target @ 1.5830...3rd target @ 1.5905

[14:49:13 24/10/08] Stalion : stop loss @ 1.5589..remember ur trailing stops and take half

profits when +20 pips ahead

[14:51:24 24/10/08] fxjedi : thanks for the sms,stal,1st target just hit

[14:57:12 24/10/08] djcarlos : hey, i dont see this alert

[14:57:18 24/10/08] djcarlos : saw

[14:57:38 24/10/08] djcarlos : can i enter now???

[14:59:17 24/10/08] fxjedi : am not sure,djcarlos,i got my alert some fifty minutes ago,so

my buy stop was already in

[15:01:14 24/10/08] djcarlos : ok thank, I was enter, and i exit whith 15 pips jeje thanks

[15:01:16 24/10/08] masif1 : damn another call i missed!

[15:01:35 24/10/08] masif1 : that's 3 very profit making calls today which i missed Sad

[15:02:38 24/10/08] fxjedi : sorry

[15:04:01 24/10/08] fxjedi : i only wonder how stallion does it,everywhere in

chaos,volatility breaking up traders accounts,but this guy is busy declaring profits

consistently,funny

[15:04:04 24/10/08] djcarlos : How can I get a SMS???

[15:04:50 24/10/08] fxjedi : 2ndtarget hit

[15:08:51 24/10/08] klho83 : Closed 135pips for the 3rd target!

[15:08:59 24/10/08] djcarlos : now is going down, catch the knife???

[15:09:48 24/10/08] klho83 : Best trade for the week! Thanks Stal!

[15:10:50 24/10/08] djcarlos : How can I get sms?? to dont miss other alert?

[15:13:16 24/10/08] fxjedi : 3 winning trades in a row in just 1 day? thats a HATRICK

[15:14:12 24/10/08] djcarlos : jaja congratulations

[17:20:19 24/10/08] fxjedi : am withdrawing some of my profits from my forex broker first

thing monday morning

[17:22:19 24/10/08] djcarlos : nice

[17:27:39 24/10/08] fxjedi : just dont want to tempt my broker,lol

[17:28:56 24/10/08] djcarlos : ok. thanks

[20:24:06 24/10/08] Stalion : 3rd target finally hit

Stocks fall on belief global recession is at hand - Yahoo! News

 

[forexgreenland]

60% Beethoven Cantata in B Major on GBPUSD

Helloo Folks,
We thank God for bringing us to the begining of another brand new week and we give Him the

glory in ALL things..

Our last target on Friday (1.5905) was finally hit, which in itself , was the 60% SELL

WINDOW of the previous trend..I know..I know...everyone says we should sell after price

rallies( rise) when the trend is down but we bought...and 217 pips came out of that decision.
Now as the time of writing,(5.50 GMT Sunday), price on the GBPUSD 15min closed on Friday

with a bearish candle..
Observe that that close(1.5903) was at the region of the 60% SELL WINDOW, which usually

foretells a turnaround in price...which, in this case, pausing from its prevailing uptrend

to a much probable downtrend.
But the question is ''HOW FAR IS PRICE GOING ON ITS PERCIEVED BEARISH MOVEMENT?
We've, to a considerable extent, determined the direction of GBPUSD on the 15 minute chart,

as bearish...so now, we are looking at HOW FAR this bearish move might likely go..That is

the essence of the CHART PATTERN RECOGNITION AND PRICE PROJECTION STRATEGY.
That , my friends, is what we term the ''60% Beethoven Cantata in B Major''..
Those numbers, 1-2-3 was observed to continue and recur upwards in the prevailing

uptrend...so we extrapolate them on our next anticipated downtrend...

High=1.6326-Low 1.5262=0.1064
0.6*0.1064=0.06384(range)
1.5262+0.06384=1.5900 ( 60% sell window).

high 1.5943 - low 1.5747= 0.0196
0.6*0.0196=0.01176(range)
1.5747+0.01176=1.5865(60% window) 1st target to the downside..

2nd target @ 1.5666...3rd target @ 1.5523....

In less than 4 hours from now, the forex markets will open, with the Asian Session leading

the pack..Only time would tell if our targets are hit...Remember there's no 100% perfection

in the markets..Anything can happen..thats why proper risk management is important..
Proper money management dictates we fix our stop loss above the high of 1.5943, when going

short(selling).tHats like 40 pips above the close of 1.5903. By price hitting our stop loss at that point, that confirms our bias is wrong(bearish) and reaffirms the continuation of the prevailing uptrend.
A bearish gap to the downside might also likely form at the opening bell which shows

oversold orders pouring in the markets..
Please feel free to make any comments or ask questions..

 

[forexgreenland]

Dont you think price breaking through the pretty strong resistance

at approx. 1.59 is a bullish signal and send the pair up when they open first? I dunno, just

wondering, I bought at 1.59 and have a target of 1.595 and I dont see how the last high on

friday of 1.5933 has any sigificant resistance.

Hi willabala, thanks for your constructive criticism...well, the last high on friday of

1.5933 is a significant resistance because it is the current MAJOR HIGH...Price needs to

break above that level to confirm a bullish trend. Can you please tell us your reasons for

going long at 1.59?

This is like a case study of different traders with different bias (long and short).. At

that 1.59 level, you were in favour of a buy position while I was in favour of a sell

position..For me, that level was SELL WINDOW in which my bias would be short...Even if I

want to go long, I would have gone for the first pyschological level @ 1.5940...which gave

strong resistance,before price started retracing downwards..1.595 would be pushing it when

price is already giving signals its overbought and at the sell window..
Well, we all learn everyday,mon ami..

Can you tell us the reasons you took a long trade instead of a short,willaballa?Did you

notice the bearish gap?

Hi Forexgreenland,

Glad to hear from you and welcome to the community. Thanks for sharing your thoughts and

price targets here it looks like they were all hit and then some.

Best Regards
Dave

Thanks,Dave...you were right...the price targets were hit some hours after the ''Beethoven

Cantata In B Major'' call...extra 200 pips were left hanging on the table..

Greetings Mystikal,

your call was the sweetest beethoven classic av ever heard,with avanlanche of pips

[08:17:17 27/10/08] klho83 : Hi stal

[08:20:45 27/10/08] Stalion : Hi K

[08:21:14 27/10/08] Stalion : morning agba...monkeymagic

[08:21:26 27/10/08] monkeymagic : hi stalion

[08:22:46 27/10/08] Stalion : hope you guys took our short call yesterday...from

1.59...price went down a huge drop by +400 pips..

[08:23:56 27/10/08] monkeymagic : I have been following recent activites & keen to get

involved

[08:24:22 27/10/08] monkeymagic : don't really know what I'm doing though

[08:24:40 27/10/08] Stalion : cool

[08:25:11 27/10/08] Stalion : how long've you been trading?

[08:25:43 27/10/08] monkeymagic : I've been running a demo account and tried a couple of EAs

[08:25:57 27/10/08] monkeymagic : no live stuff yet

[08:29:28 27/10/08] Stalion : we put a sell stop on GBPUSD @ 1.5426...1ST TARGET @

1.5370...2nd target @ 1.5305...3rd target @ 1.5260

[08:29:51 27/10/08] Stalion : okay...

[08:30:07 27/10/08] monkeymagic : sounds good

[08:32:23 27/10/08] Stalion : any strategy that ur using presently?

[08:32:55 27/10/08] monkeymagic : no

[08:33:08 27/10/08] monkeymagic : Im pretty green at trading

[08:34:05 27/10/08] monkeymagic : this might be a silly question - but do you have to do

three different order for the targets

[08:35:06 27/10/08] Stalion : well, no question is silli,mm...especially in trading..

[08:35:41 27/10/08] Stalion : for 3 targets, you close a third (1/3) of your original

position

[08:36:02 27/10/08] Stalion : for 2 targets, you close half of original positions...

[08:37:30 27/10/08] monkeymagic : great thanks for that

[08:48:20 27/10/08] klho83 : Hi stal Where is the SL for GU

[08:48:22 27/10/08] Stalion : sell stop triggered

[08:50:05 27/10/08] Stalion : stop loss @ 1.5500

[08:51:04 27/10/08] klho83 : Thanks !

[08:56:05 27/10/08] skipper : Morning everyone

[08:56:43 27/10/08] Stalion : please take a third(1/3) profit when +20 pips ashead...

[08:57:00 27/10/08] Stalion : and shift stop loss to entry point

[13:08:20 27/10/08] Stalion : so skipper, how long have you been trading? 2yrs?

[13:09:07 27/10/08] skipper : Hi Stalion - just over a year now & it's been a bumpy ride.

[13:09:43 27/10/08] djcarlos : I have been 3 years, but I was lost in 2 times... but now

with the alerts... im going well

[13:13:32 27/10/08] Stalion : what are the particular challenges you guys are facing in

trading???where would you like to become better?

[13:14:19 27/10/08] skipper : I have trouble deciding on entry points.

[13:14:41 27/10/08] skipper : I seem to have the right idea, but always a bit early in.

[13:15:16 27/10/08] skipper : But I am getting better - just have to be more patient

[13:16:18 27/10/08] Stalion : Timing of entries is one of skipper's challenges...like every

other trader...

[13:16:29 27/10/08] Stalion : dj?

[13:16:32 27/10/08] enolase : Fibonacci is something I would really want to learn

[13:16:48 27/10/08] enolase : so as to be able to get in on retracements

[13:16:56 27/10/08] Stalion : enolase?

[13:17:03 27/10/08] Stalion : ohh,okay

[13:17:37 27/10/08] enolase : Friday was one of the few times i was able to plot and enter

at 38.2 retracement on EURJPY that gave me80 pips in profit

[13:18:08 27/10/08] enolase : but i have never been able to determine properly where to

start the plotting of the Fibo lines from

[13:18:18 27/10/08] enolase : using my chat software

[13:18:39 27/10/08] enolase : sorry i mean using my MT4 chart Fibo tool

[13:20:37 27/10/08] enolase : if i can determine exactly where to start the plotting from so

one can re-enter on a 50% or 61.8% Fibo retracement level, it will really enhance my trading

[13:26:43 27/10/08] Stalion : fibo's not that hard,enolase...but it will take a little time

before you can get used to practicing it

[13:39:13 27/10/08] Stalion : djcarlos...? any forex challenges or problems you want to

overcome?

[13:41:07 27/10/08] djcarlos : yes, I want to start to learn about ways to determine entry

points... in technical and fundamental analisis

[13:42:10 27/10/08] skipper : same here

[13:42:45 27/10/08] djcarlos : I have the knowledge, but i must practice

[13:43:55 27/10/08] enolase : Stal, do we have a potential double bottom forming on the 1hr

chart of EURJPY?

[13:48:51 27/10/08] enolase : and what is this talk of a Yen Intervention?

[14:01:37 27/10/08] Stalion : yea...practice makes perfect,dj

[14:02:27 27/10/08] Stalion : even with all d knowldge and skills in ur disposal,if you dont

practice daily, its wasted..

[14:04:45 27/10/08] Stalion : sorry, mate....that double top on the EURJPY looks weak...kind

of sliding price down to the right

[14:05:01 27/10/08] enolase : yes

[14:05:44 27/10/08] djcarlos : thanks........ Im looking Eur/Jpy chart, and it could be

interesting sell order.... what do you think???

[14:06:54 27/10/08] enolase : of course there are rulesfor entering based on double top:

placing a pending order at the "neck"

[14:07:00 27/10/08] enolase : the neck is still over 300 pips northwards

[14:09:21 27/10/08] Stalion : it would have been a 1-2-3 bottom but the recent low at 9 a.m

this morning breached the previouslow that was there at 113.77

[14:17:28 27/10/08] Stalion : price is moving rather slow...

[14:21:21 27/10/08] Stalion : I suggest a break ...from the screens...we come back in a

hour's time or so...so we put a sell stop @ 113.60...1st target @ 113.10..on the

EURJPY...GBPUSD has more upside momentum than EURJPY...yen is just lagging behind...

[14:22:21 27/10/08] Stalion : maybe cable might give yen some added lift?

[14:28:09 27/10/08] Stalion : a breach above the high of 116.83 would foretell a bullish

move

[14:30:28 27/10/08] Stalion : cool

[14:31:30 27/10/08] Stalion : that could mean the formation of the 1-2-3 pattern

[14:36:43 27/10/08] djcarlos : its ready the entry order

[14:36:55 27/10/08] djcarlos : im waiting

[15:18:31 27/10/08] Stalion : We also put a pending buy stop order on EURJPY @

117.10,1sttarget @ 118.00, 2nd target @ 118.95...3rd target @ 120.53...stop loss @116.10

[15:19:02 27/10/08] Stalion : this ensures we catch any surprise bullish move to the north

[15:54:12 27/10/08] enolase : hi people

[15:55:42 27/10/08] djcarlos : Hi did you see the alerts??

[15:56:53 27/10/08] enolase : yes

[15:56:58 27/10/08] enolase : the GU trade has triggered

[15:57:55 27/10/08] enolase : so we watch it

[15:58:58 27/10/08] skipper : Missed the alert - where was it?

[16:00:28 27/10/08] djcarlos : Enolase... you will open the GU alert again??

[16:00:33 27/10/08] skipper : sorry - being stupid - I did see it!

[16:00:40 27/10/08] skipper : Have short on

[16:06:20 27/10/08] enolase : The ECB President has just hinted on a rate cut at the next

meeting!

[16:07:42 27/10/08] djcarlos : what that means???

[16:07:52 27/10/08] djcarlos : GU is going down??

[16:19:31 27/10/08] enolase : we got stopped out

[16:20:02 27/10/08] enolase : and the market seems headed in a range bound direction. so i'm

taking a break

[16:26:34 27/10/08] djcarlos : mmmm i was open again the alert... bad idea..

[18:45:17 27/10/08] djcarlos : HI good news 1st target of 118.00 was hit.... thanks Stal 100

pips in the badge

[23:37:50 27/10/08] Stalion : cool,djcarlos

[23:39:11 27/10/08] Stalion : 377,44,and 90 pips netted us a total of 511 pips,$511

minilot..$5110 standard lot on Monday

 

[forexgreenland]

Forexgreenland, I went long at 1.59 due to the break above the

resistance at about 1.5890. I guess I really had my target to high for 50 pips at 1.5950,

really only 30 pips is what I was going to go for and had set limit to 1.5930 and then

changed it. It's all good with me though I got out of that with with a small 30 point loss,

and then made 90 pips last night so up 60 for yesterday. I'm still a little doofed on what

position to take at this moment, no idea.

Hi willaballa,that means there was nothing wrong with your entry at 1.59 due to a break of

resistance at 1.5890...it was just a challenge of targets and exits,dats all...Like you

rightly said, 30 pips is okay for a trade,especially if you multiply it by multiple lots..2

minilots would be like 90...4 minilots like 120...
You just need to believe more in yourself and your strategy in order to have the confidence

to make successful trades...Its only a matter of time...you'll get there,as long as you

strive to be better than who you were yesterday..
As I write, the next alert is on the last segment of the chat..

P.s- Trading is not 100% perfect neither is it cast in brick and mortar...price might still

go down instead of up, so please use proper risk management.

Hi Sylvester! I`m new in the market, so I'd like you to tell me what book,publication or

website you suggest me to readr. Thank you , greeting from Argentina!!!

Helloo Mauro...Howz Beunos Aires and your fellow gauchos in the pampas? You rock,amigos...
Well, if you are looking for forex resources, you can check at babypips for some

introductory stuff...Then maybe go through Technical Analysis of the Financial Markets by

John J Murphy, and the Candlestick Course by Steve Nison..That should help for a start..


[08:25:01 28/10/08] monkeymagic : morning skipper

[08:56:28 28/10/08] skipper : morning everyone

[08:59:18 28/10/08] monkeymagic : hows everyone going with their trading?

[09:00:25 28/10/08] djcarlos : HI everyone from chile, 05:00 here

[09:01:00 28/10/08] monkeymagic : djcarlos - you must be keen

[09:02:00 28/10/08] monkeymagic : its 9.00pm in New Zealand

[09:02:42 28/10/08] skipper : 8am UK - any alerts today guys?

[09:03:32 28/10/08] monkeymagic : I haven't seen any

[09:04:03 28/10/08] monkeymagic : Are you trading live or with a demo account?

[09:04:26 28/10/08] skipper : live

[09:04:37 28/10/08] skipper : you?

[09:04:47 28/10/08] monkeymagic : just a demo at this stage

[09:04:58 28/10/08] djcarlos : live

[09:05:26 28/10/08] monkeymagic : I'm new to trading - so looking to learn a bit first

[09:05:35 28/10/08] skipper : very wise

[09:05:44 28/10/08] djcarlos : somebody wake up me when the alert is ready

[09:05:56 28/10/08] monkeymagic : lol

[09:06:00 28/10/08] djcarlos : jeje

[09:06:19 28/10/08] monkeymagic : what broker do you use?

[09:08:05 28/10/08] skipper : I use the FXCM platform - no broker

[09:08:31 28/10/08] monkeymagic : ok thanks for that

[09:09:53 28/10/08] Stalion : helloo everyone..

[09:10:00 28/10/08] skipper : morning stal

[09:10:25 28/10/08] djcarlos : good night yet here jeje!

[09:10:44 28/10/08] klho83 : hi gm all!

[09:11:38 28/10/08] Stalion : hope you'all had a good night rest.....

[09:12:34 28/10/08] Stalion : did anyone take the EURJPY trade yesterday?

[09:13:10 28/10/08] skipper : yes - thanks

[09:13:31 28/10/08] klho83 : No

[09:13:46 28/10/08] monkeymagic : no

[09:14:03 28/10/08] monkeymagic : that would have been in the middle of the night for me

[09:14:13 28/10/08] djcarlos : yes, thanks, I have the cable 113.60 now, I must erase that??

[09:14:19 28/10/08] Stalion : we put a buy stop on the GBPUSD @ 1.5570...1st target @

1.5618..

[09:15:56 28/10/08] Stalion : 2nd target @ 1.5668...sl @ 1.555520

[09:16:19 28/10/08] Stalion : sory, 1.5520

[09:16:50 28/10/08] skipper : OK Stal

[09:17:20 28/10/08] djcarlos : ok

[09:18:25 28/10/08] Stalion : [15:18:31 27/10/08] Stalion : We also put a pending buy stop

order on EURJPY @

[09:18:36 28/10/08] Stalion : 117.10,1sttarget @ 118.00, 2nd target @ 118.95...3rd target @

120.53...stop loss @116.10

[09:19:32 28/10/08] Stalion : 343 pips total was made again, on EURJPY...if your buy stop

was in place

[09:20:48 28/10/08] monkeymagic : when putting in buy stop for 1.5570 it is coming up with

Invalid S/L or T/P - any ideas?

[09:22:16 28/10/08] skipper : OK Stalion - Than you

[09:22:40 28/10/08] djcarlos : Hit firs trget GU.. its ll going up???

[09:22:49 28/10/08] Stalion : 1st target hit @ 1.5618 on the gbpusd...

[09:24:15 28/10/08] klho83 : 50%

[09:26:00 28/10/08] Stalion : am sorry it went too fast

[09:26:36 28/10/08] Stalion : you can reenter if you didnt get the 1st chance

[09:27:06 28/10/08] djcarlos : its falling

[09:27:15 28/10/08] Stalion : can klho83 explain how he allocates percentages to his

minilots??

[09:28:26 28/10/08] Stalion : then reenter with a buy stop at 1.5580

[09:28:58 28/10/08] Stalion : coz price will still move up, under normal market conditions

[09:30:59 28/10/08] klho83 : 4 mini lots. 2 (50%) set at 1st target,1(25%) set at 2nd target

and last 1(25%) 3rd target with trailing

[09:41:42 28/10/08] Stalion : thanks, K

[09:42:38 28/10/08] klho83 : Add 2 minilots at the entry pts ,hit again

[09:42:44 28/10/08] Stalion : cable proceeding steadily upwards to our 2nd target

[09:44:10 28/10/08] djcarlos : ??

[09:44:19 28/10/08] Stalion : Eno was right...the double bottom on the EURJPY was an

accurate one...

[09:49:20 28/10/08] skipper : what's up dj?

[09:51:12 28/10/08] Stalion : hi skipper...

[09:51:22 28/10/08] Stalion : did you enter our gu trade?

[09:51:51 28/10/08] skipper : yes - thanks

[09:52:28 28/10/08] skipper : & have made the entry order on EUR/JPY

[09:52:29 28/10/08] Stalion : no probs....

[09:52:35 28/10/08] Stalion : kiwi??

[09:52:46 28/10/08] skipper : looks like cable is coming down now

[09:53:26 28/10/08] skipper : but pips from 1st target in the bag!

[09:54:31 28/10/08] Stalion : after price gets to 1st target or even just +20 pips in our

favour, we then adjust our stop loss upwards to our entry level point...dat ensures we get

out with little or no loss when price retraces against our position....remember half profits

would have been taken then

[09:54:44 28/10/08] monkeymagic : I tried to make trade - but got an error

[09:55:29 28/10/08] skipper : Yes - I moved sl to entry - so not losses!

[09:57:14 28/10/08] djcarlos : GU it still going up???? because i dont get the pips of 1st

target

[09:57:14 28/10/08] skipper : OK - closed out now

[09:58:14 28/10/08] Stalion : the EURJPY call was for yesterday....skipper...price needs to

drop down to 116.83 before going back upwards...

[09:58:50 28/10/08] Stalion : did you factor that info in with our original entry order on

the EURJPY?

[10:00:46 28/10/08] skipper : Stal I have adjusted pending buy order accordingly. Thanks for

checking!

[10:01:52 28/10/08] djcarlos : waht is the new entry @ for eur???

[10:04:37 28/10/08] Stalion : it might be better to put a buy limit on the EURJPY @

116.83...OR wait for price to breach 116.83 first before placing a buy stop on it....sl

@115.85

[10:05:26 28/10/08] Stalion : or just stick with our original entry point of yesterday

[11:55:23 28/10/08] djcarlos : Klho83 I have a question, if the SL if far than 1st target,

the loose 50% it will make a lost position

[12:03:09 28/10/08] skipper : dj when 1st target is hit - move sl to breakeven for the

remaing 50% of your trade.

[12:03:25 28/10/08] skipper : That way you bag the money on first target

[12:03:43 28/10/08] skipper : then if you let the rest of your trade run, you can not go

wrong

[12:04:32 28/10/08] skipper : worst case scenario - you have profit from 1st target getting

hit - then market moves in opposite direction & your stop gets hit at zero.

[12:04:44 28/10/08] djcarlos : ahh!! ok if I hit the first target, i would have move my SL

to the hit... ok thats good

[12:05:13 28/10/08] skipper : No don't move sl to hit - move sl to entry point

[12:06:16 28/10/08] djcarlos : ok sorry... yo entry point... thanks it very good technics

[12:06:42 28/10/08] skipper : ok - it works well

[12:09:04 28/10/08] djcarlos : what do you think for the cable to Eur/Jpy.... its will be

had results??

[12:10:27 28/10/08] skipper : I only study cable - CBI results just out were better than

expected - very surprising

[12:11:19 28/10/08] skipper : although they haven't caused any movement as such

[12:17:48 28/10/08] caprica1 : morning everyone. How goes it?

[12:19:37 28/10/08] skipper : I re-entered on the cable long & got 100 pips - thanks stal!

[12:37:51 28/10/08] caprica1 : Anything for this morning so far?

[12:41:05 28/10/08] klho83 : Yes, GU hit all target!

[12:43:27 28/10/08] caprica1 : kool! Plenty of pips then?

[12:43:40 28/10/08] klho83 : Another pending order but i don't think to EJ wu come to the

price:

[12:44:01 28/10/08] djcarlos : congratulation, i had a mistake and dont win

[12:44:02 28/10/08] klho83 : EURJPY @ 116.83...OR wait for price to breach 116.83 first

before placing a buy stop on it....sl @115.85

[12:47:21 28/10/08] caprica1 : yeah it's quite long way away from the entry at the moment.

[17:41:47] Stalion : hope you made some money off our gbpusd and eurjpy call?

[17:43:22] Stalion : we put a buy stop on GBPUSD @ 1.5620...1st target @ 1.5655...2nd target

@ 1.5670




[QUOTE="willaballa, post: 203096, member: 1935"]Forexgreenland, I went long at 1.59 due to the break above the

resistance at about 1.5890. I guess I really had my target to high for 50 pips at 1.5950,

really only 30 pips is what I was going to go for and had set limit to 1.5930 and then

changed it. It's all good with me though I got out of that with with a small 30 point loss,

and then made 90 pips last night so up 60 for yesterday. I'm still a little doofed on what

position to take at this moment, no idea.[/QUOTE]

Hi willaballa,that means there was nothing wrong with your entry at 1.59 due to a break of

resistance at 1.5890...it was just a challenge of targets and exits,dats all...Like you

rightly said, 30 pips is okay for a trade,especially if you multiply it by multiple lots..2

minilots would be like 90...4 minilots like 120...
You just need to believe more in yourself and your strategy in order to have the confidence

to make successful trades...Its only a matter of time...you'll get there,as long as you

strive to be better than who you were yesterday..
As I write, the next alert is on the last segment of the chat..

P.s- Trading is not 100% perfect neither is it cast in brick and mortar...price might still

go down instead of up, so please use proper risk management.



[QUOTE="Mauro Pini, post: 52986, member: 1004"]

Hi Sylvester! I`m new in the market, so I'd like you to tell me what book,publication or

website you suggest me to readr. Thank you , greeting from Argentina!!![/QUOTE]

Helloo Mauro...Howz Beunos Aires and your fellow gauchos in the pampas? You rock,amigos...
Well, if you are looking for forex resources, you can check at babypips for some

introductory stuff...Then maybe go through Technical Analysis of the Financial Markets by

John J Murphy, and the Candlestick Course by Steve Nison..That should help for a start..


[08:25:01 28/10/08] monkeymagic : morning skipper

[08:56:28 28/10/08] skipper : morning everyone

[08:59:18 28/10/08] monkeymagic : hows everyone going with their trading?

[09:00:25 28/10/08] djcarlos : HI everyone from chile, 05:00 here

[09:01:00 28/10/08] monkeymagic : djcarlos - you must be keen

[09:02:00 28/10/08] monkeymagic : its 9.00pm in New Zealand

[09:02:42 28/10/08] skipper : 8am UK - any alerts today guys?

[09:03:32 28/10/08] monkeymagic : I haven't seen any

[09:04:03 28/10/08] monkeymagic : Are you trading live or with a demo account?

[09:04:26 28/10/08] skipper : live

[09:04:37 28/10/08] skipper : you?

[09:04:47 28/10/08] monkeymagic : just a demo at this stage

[09:04:58 28/10/08] djcarlos : live

[09:05:26 28/10/08] monkeymagic : I'm new to trading - so looking to learn a bit first

[09:05:35 28/10/08] skipper : very wise

[09:05:44 28/10/08] djcarlos : somebody wake up me when the alert is ready

[09:05:56 28/10/08] monkeymagic : lol

[09:06:00 28/10/08] djcarlos : jeje

[09:06:19 28/10/08] monkeymagic : what broker do you use?

[09:08:05 28/10/08] skipper : I use the FXCM platform - no broker

[09:08:31 28/10/08] monkeymagic : ok thanks for that

[09:09:53 28/10/08] Stalion : helloo everyone..

[09:10:00 28/10/08] skipper : morning stal

[09:10:25 28/10/08] djcarlos : good night yet here jeje!

[09:10:44 28/10/08] klho83 : hi gm all!

[09:11:38 28/10/08] Stalion : hope you'all had a good night rest.....

[09:12:34 28/10/08] Stalion : did anyone take the EURJPY trade yesterday?

[09:13:10 28/10/08] skipper : yes - thanks

[09:13:31 28/10/08] klho83 : No

[09:13:46 28/10/08] monkeymagic : no

[09:14:03 28/10/08] monkeymagic : that would have been in the middle of the night for me

[09:14:13 28/10/08] djcarlos : yes, thanks, I have the cable 113.60 now, I must erase that??

[09:14:19 28/10/08] Stalion : we put a buy stop on the GBPUSD @ 1.5570...1st target @

1.5618..

[09:15:56 28/10/08] Stalion : 2nd target @ 1.5668...sl @ 1.555520

[09:16:19 28/10/08] Stalion : sory, 1.5520

[09:16:50 28/10/08] skipper : OK Stal

[09:17:20 28/10/08] djcarlos : ok

[09:18:25 28/10/08] Stalion : [15:18:31 27/10/08] Stalion : We also put a pending buy stop

order on EURJPY @

[09:18:36 28/10/08] Stalion : 117.10,1sttarget @ 118.00, 2nd target @ 118.95...3rd target @

120.53...stop loss @116.10

[09:19:32 28/10/08] Stalion : 343 pips total was made again, on EURJPY...if your buy stop

was in place

[img]http://i72.servimg.com/u/f72/11/82/15/01/eurjpy11.gif

[09:20:48 28/10/08] monkeymagic : when putting in buy stop for 1.5570 it is coming up with

Invalid S/L or T/P - any ideas?

[09:22:16 28/10/08] skipper : OK Stalion - Than you

[09:22:40 28/10/08] djcarlos : Hit firs trget GU.. its ll going up???

[09:22:49 28/10/08] Stalion : 1st target hit @ 1.5618 on the gbpusd...

[09:24:15 28/10/08] klho83 : 50%

[09:26:00 28/10/08] Stalion : am sorry it went too fast

[09:26:36 28/10/08] Stalion : you can reenter if you didnt get the 1st chance

[09:27:06 28/10/08] djcarlos : its falling

[09:27:15 28/10/08] Stalion : can klho83 explain how he allocates percentages to his

minilots??

[09:28:26 28/10/08] Stalion : then reenter with a buy stop at 1.5580

[09:28:58 28/10/08] Stalion : coz price will still move up, under normal market conditions

[09:30:59 28/10/08] klho83 : 4 mini lots. 2 (50%) set at 1st target,1(25%) set at 2nd target

and last 1(25%) 3rd target with trailing

[09:41:42 28/10/08] Stalion : thanks, K

[09:42:38 28/10/08] klho83 : Add 2 minilots at the entry pts ,hit again

[09:42:44 28/10/08] Stalion : cable proceeding steadily upwards to our 2nd target

[09:44:10 28/10/08] djcarlos : ??

[09:44:19 28/10/08] Stalion : Eno was right...the double bottom on the EURJPY was an

accurate one...

[09:49:20 28/10/08] skipper : what's up dj?

[09:51:12 28/10/08] Stalion : hi skipper...

[09:51:22 28/10/08] Stalion : did you enter our gu trade?

[09:51:51 28/10/08] skipper : yes - thanks

[09:52:28 28/10/08] skipper : & have made the entry order on EUR/JPY

[09:52:29 28/10/08] Stalion : no probs....

[09:52:35 28/10/08] Stalion : kiwi??

[09:52:46 28/10/08] skipper : looks like cable is coming down now

[09:53:26 28/10/08] skipper : but pips from 1st target in the bag!

[09:54:31 28/10/08] Stalion : after price gets to 1st target or even just +20 pips in our

favour, we then adjust our stop loss upwards to our entry level point...dat ensures we get

out with little or no loss when price retraces against our position....remember half profits

would have been taken then

[09:54:44 28/10/08] monkeymagic : I tried to make trade - but got an error

[09:55:29 28/10/08] skipper : Yes - I moved sl to entry - so not losses!

[09:57:14 28/10/08] djcarlos : GU it still going up???? because i dont get the pips of 1st

target

[09:57:14 28/10/08] skipper : OK - closed out now

[09:58:14 28/10/08] Stalion : the EURJPY call was for yesterday....skipper...price needs to

drop down to 116.83 before going back upwards...

[09:58:50 28/10/08] Stalion : did you factor that info in with our original entry order on

the EURJPY?

[10:00:46 28/10/08] skipper : Stal I have adjusted pending buy order accordingly. Thanks for

checking!

[10:01:52 28/10/08] djcarlos : waht is the new entry @ for eur???

[10:04:37 28/10/08] Stalion : it might be better to put a buy limit on the EURJPY @

116.83...OR wait for price to breach 116.83 first before placing a buy stop on it....sl

@115.85

[10:05:26 28/10/08] Stalion : or just stick with our original entry point of yesterday

[11:55:23 28/10/08] djcarlos : Klho83 I have a question, if the SL if far than 1st target,

the loose 50% it will make a lost position

[12:03:09 28/10/08] skipper : dj when 1st target is hit - move sl to breakeven for the

remaing 50% of your trade.

[12:03:25 28/10/08] skipper : That way you bag the money on first target

[12:03:43 28/10/08] skipper : then if you let the rest of your trade run, you can not go

wrong

[12:04:32 28/10/08] skipper : worst case scenario - you have profit from 1st target getting

hit - then market moves in opposite direction & your stop gets hit at zero.

[12:04:44 28/10/08] djcarlos : ahh!! ok if I hit the first target, i would have move my SL

to the hit... ok thats good

[12:05:13 28/10/08] skipper : No don't move sl to hit - move sl to entry point

[12:06:16 28/10/08] djcarlos : ok sorry... yo entry point... thanks it very good technics

[12:06:42 28/10/08] skipper : ok - it works well

[12:09:04 28/10/08] djcarlos : what do you think for the cable to Eur/Jpy.... its will be

had results??

[12:10:27 28/10/08] skipper : I only study cable - CBI results just out were better than

expected - very surprising

[12:11:19 28/10/08] skipper : although they haven't caused any movement as such

[12:17:48 28/10/08] caprica1 : morning everyone. How goes it?

[12:19:37 28/10/08] skipper : I re-entered on the cable long & got 100 pips - thanks stal!

[12:37:51 28/10/08] caprica1 : Anything for this morning so far?

[12:41:05 28/10/08] klho83 : Yes, GU hit all target!

[12:43:27 28/10/08] caprica1 : kool! Plenty of pips then?

[12:43:40 28/10/08] klho83 : Another pending order but i don't think to EJ wu come to the

price:

[12:44:01 28/10/08] djcarlos : congratulation, i had a mistake and dont win

[12:44:02 28/10/08] klho83 : EURJPY @ 116.83...OR wait for price to breach 116.83 first

before placing a buy stop on it....sl @115.85

[12:47:21 28/10/08] caprica1 : yeah it's quite long way away from the entry at the moment.

[17:41:47] Stalion : hope you made some money off our gbpusd and eurjpy call?

[17:43:22] Stalion : we put a buy stop on GBPUSD @ 1.5620...1st target @ 1.5655...2nd target

@ 1.5670

 

[forexgreenland]

Thank You Very much for share this interesting Strategy.
Btw Can you help me with this :

"high 1.5943 - low 1.5747= 0.0196
0.6*0.0196=0.01176(range)
1.5747+0.01176=1.5865(60% window) 1st target to the downside.."

From where you pick it up 1.5747 ?

Thank you before that. Nice Strategies i like it, Simple System like this because i now

simple is better & more profitable.

All The Best;

Manus168

Re:Keeping It Simple Smarty(KISS) is a great way of becoming better and profitable in

trading,especially when you dont clutter your charts with a map of indicators and

objects,Manus...1.5747 was the low of that trend, which was subtracted from the high of the

trend.Thanks, mon ami...


Submitted by Qais on October 27, 2008 - 15:21.

Hello,

I just caught a glimpse of the above article and I would like to thank you for such a simple

& lucent summary of what trading is all about.
You have indeed put it in a nutshell.
May God reward you for your kindness and goodwill.

Grace & Peace
Qais


Re:Thanks,Qais...Just continue 'glimpsing' the thread and more insights shall come..May The

Force Be With You..


Hi Mr. ForexGreenland,
I was reviewing your input at the Informed Trades Website and was very impressed with your

contribution.
I started Forex this year using the algorithms of the red and green lights and losing.
Lately I became curious and encouraged to attempt learning candlestick reading and the

variables that go along with it. I am writing to get help from you to stir me on the right

course at the start. Don't want to get into bad habits. Could you send me some beginning

basic information and or videos that helped you.

Thanks,

Karen

Re: From your mail,Karen, you give the impression of being a left brained trader, with words

like ''algorithm,variables,etc..''standing out in your comments.. You see, a left brain type

is stronger with figures,analytics,etc,while a right brained type is more in tuned with

words,abstracts,etc..
The candlestick reading involves identifying, interpreting and taking advantage of chart

patterns, in which it is quite subjective..like 2 different traders coming across a chart

pattern and reaching different conclusions..this is more discretionary trading than

mechanical..
anyways,to avoid bad habits, you strive to do the opposite of that which you term ''bad

habits''...for Nature habours a vacuum...like if you are fond of placing trades without a

stop loss, then you do the opposite and fix your stops while placing your trades,etc..
to be sincere,what helped me along the terrain of this frontier were books/videoes that were

bought...AND practiced. You can read all the books and videos on golf,but ..if you are not

applying them on the fields or trenches, they might not do much in effectiveness to making

you a top player in the Grand Slam...so tell me...What is your objective...in trading?

[17:41:47 28/10/08] Stalion : hope you made some money off our gbpusd and eurjpy call?

[17:43:22 28/10/08] Stalion : we put a buy stop on GBPUSD @ 1.5620...1st target @

1.5655...2nd target @ 1.5670

[18:02:34 28/10/08] djcarlos : !!!!!!!! Shocked what happen with GU..... extreme fall

[18:21:03 28/10/08] masif1 : s/l?

[18:21:53 28/10/08] djcarlos : did you know that GU was fall???

[18:22:11 28/10/08] djcarlos : Stalion said???

[19:10:22 28/10/08] djcarlos : GU entry was hit

[19:22:10 28/10/08] djcarlos : cheers 1st target hit

[19:22:57 28/10/08] djcarlos : 2nd target too .... Thanks Stal... good trade

[01:34:09 29/10/08] Stalion : well done, djcarlos...we did it again

[01:35:10 29/10/08] Stalion : though we made 50 pips, $50 minilot,$50 standard lot on the

GBPUSD...

[01:38:06 29/10/08] Stalion : funny though...we were going for 50 pips off the Buy Window,

instead 400 pips were made

[01:38:22 29/10/08] Stalion : or more...

[01:43:02 29/10/08] Stalion : so as at 1a.m this wednesday morning,price has made a new high

@ 1.6113 but retracing slowly downwards.......so where is it going?

[01:43:29 29/10/08] Stalion : 3 answers

[01:44:51 29/10/08] Stalion : 1 Price going for new highs by breaking the recent high of

1.6113?

[01:46:13 29/10/08] Stalion : 2. Price retracing from its recent high to the 30& buy window?

60% buy window? sell window?

[01:47:11 29/10/08] Stalion : 3. Price making a consolidation range into the London Session?

[01:48:54 29/10/08] Stalion : Read those answers again...ask yourself some questions...then

check the charts

[01:49:45 29/10/08] Stalion : Now ask yourself...

[01:50:51 29/10/08] Stalion : what possibilities exists for any of the 3 answers to be

turned into financial opportunity?

[01:54:49 29/10/08] Stalion : For I to exist, a buy stop above the high of 1.6113 to a 1st

target of 1.6155 upwards ?

[01:56:53 29/10/08] Stalion : For 2 to exist, a sell stop below the recent low at 1.6024,for

a 30% buy window of 1.5891?

[01:59:05 29/10/08] Stalion : or a sell stop below the recent low at 1.6024 (1.15 Nigerian

Time), for a 60% buy window of 1.5758..or just take both as targets?

[02:09:20 29/10/08] Stalion : For 3 , we stay aside...

[02:10:20 29/10/08] Stalion : guess what...guys...Number 2 might be the most probable one ,

with 2 targets..on the downside

[02:10:39 29/10/08] Stalion : only time will tell

[02:12:09 29/10/08] Stalion : stop loss for 2 option is 1.6070

[02:16:36 29/10/08] djcarlos : Hi Stal

[02:17:08 29/10/08] djcarlos : I make de Entry orders

[02:18:28 29/10/08] Stalion : cool

[02:19:28 29/10/08] djcarlos : Im always ready, dont matter the time

[02:20:57 29/10/08] Stalion : what time is it, in Santiago, Chile?

[02:22:09 29/10/08] djcarlos : here is 22:20 hrs.... when you trade in the morning here is

05:00... and I trade from my bed Sleep

[02:22:31 29/10/08] iykeman2008 : nope stall

[02:23:03 29/10/08] iykeman2008 : i asked you guys som question yesterday and i am yet to

hear from u

[02:23:05 29/10/08] Stalion : hmmmm....

[02:23:29 29/10/08] djcarlos : it exist posibilities of fall of GU??

[02:23:40 29/10/08] Stalion : price is at 1.6022 as we speak....about to resume its decline

[02:24:25 29/10/08] djcarlos : the entry point was hit

[02:24:52 29/10/08] Stalion : 1.6019 now

[02:28:05 29/10/08] Stalion : Gentlemen, we are commencing the DISSECTION OF THE HIGH

[02:29:26 29/10/08] iykeman2008 : 1.6010 now

[02:30:19 29/10/08] Stalion : hope you are ready

[02:32:45 29/10/08] djcarlos : hell yea!!! I listened that in WWF jeje!! Very Happy

[02:36:25 29/10/08] djcarlos : I learned to use the tecnical of target 50% 25% 25%

[02:41:32 29/10/08] Stalion : cool

[02:44:36 29/10/08] Stalion : from klho83?

[02:47:23 29/10/08] Stalion : its a nice risk management strategy

[03:08:28 29/10/08] Stalion : hmmmm.....gbpusd pip spread is now 6 pips at alpari...3 pips

more than the usual spread of 3 pips

[03:09:36 29/10/08] djcarlos : my broker has 10 pips of spread

[03:10:54 29/10/08] iykeman2008 : k

[09:04:37 29/10/08] alanlewis : 48 pips off gu trade so far.

[09:19:38 29/10/08] caprica1 : morning everyone

[10:09:49 29/10/08] masif1 : saw the buy from yesterday afternoon hit its 2nd target

[10:09:55 29/10/08] masif1 : well done

[10:33:57 29/10/08] djcarlos : the sell GU alert of the night hit 1st target, about 44 pips

[10:36:00 29/10/08] djcarlos : was good

[10:36:09 29/10/08] klho83 : no . Not yet dj

[10:37:55 29/10/08] djcarlos : yes, im closing that the sell signal of 02:00am

[10:39:01 29/10/08] djcarlos : somebody will open buy stop at 1.6113?

[11:01:53 29/10/08] Stalion : hi everyone

[11:09:29 29/10/08] Stalion : our first call on cable,50 pips or so, was hit yesterday

evening....

[07:38:28 30/10/08] djcarlos : Hi 03:37am in chile... I dont want to sleep any more, I only

want to trade, Razz regards

 

[forexgreenland]

The Dragon Fist

Good evening,Ladies and Gentlemen,
Hope you'all having a lovely weekend...?
As at 10pm Nigerian time, we await the opening bells of the Asian Session in which the

GBPUSD(cable) closed on a bearish note last week Friday..Our stop loss was put at the recent

high of 1.6164,which was the most recent intermediate high..Price would have to breach that

resistance level, a few inches below the DRAGON FIST.. in order to confirm a bullish drive..

[11:11:38 31/10/08] Stalion : so we put a sell stop on gu @ 1.6100...1st target @

1.6045...2nd target @ 1.5975...sl@ 1.6185

Rumours of Bank Of Japan's(BOJ) intervention to sell Japanese yen in the markets so as to

reduce the value of the yen, might see it decline against major pairs..

Now where do we think GBPUSD is going? Up? Down? Sideways Consolidation?
Well, the last complete candle to the right was a bearish one...and the most recent

incomplete candle, in which price pierced the low of the last complete candle, also suggests

a bearish note...
But I could hear someone bluster..''But Stallion, isnt price at the 60% buy window?shouldnt

we expect price to go up, instead of down?
Well, from the way I see it, price should be ready to be retracing back up..but it met the

DRAGON FIST...If the market opens with a bearish gap today, there's a very good chance of it

reaching for our 3rd target point of 1.5922

1.6252-1.6033=0.0219
1.6141-0.0219=1.5922( 3rd target point)


Only time will tell if our trade call is correct...Remember dont try this at home...dont try

the DRAGON FIST at home...

 

[forexgreenland]

1)
Most traders tend to concentrate on pinpointing the perfect entry for a trade.

Yes,palmguy...but nothing is 100% perfect in trading...most of the time, it tends to be more

about TIMING OF THE ENTRY than exits..though but are quite important..

2674)
Here's the Delta Society website link. They have the Delta book. You may be able to get one

used somewhere. But take the website with a grain of salt, they are exaggerating on their

view of the accuracy of Delta. Most people are disappointed with it and quit trying it the

Delta way.


HOME - Delta Market Trading - Predictive Stock and Commodity Market Analysis and Trading

Tools (HOME - Delta Market Trading - Predictive Stock and Commodity Market Analysis and Trading Tools)
---End Quote---

Thank you 4X. So the intraday gives us a good indication on where to enter throughout the

day or perhaps a way to day trade. But how do we determine the overall trend?

For example, JohnG said he see this pair going to 1.80. Like you were saying, I don't

really want to have to constantly watch the screen all day. It'd be nice to get a good

entry point using the intraday charts but then feel confident that you are with the longer

term trend so you're not fretting every little hiccup.

So my guess is that we're in an uptrend now but how do we determine that. Is that through

the LTD and MTD indicators?

187) agree with 2be. DELTA gives us an idea where the market is heading but

it is not the 'holy grail'. There is no 'holy grail' Wilder put it this way, "DELTA is

perfect order but not perfect accurracy". The turning points will come early or late. And

the most important of all, DELTA does not generate entry or exit signal. It has to be

coupled with your own trading system.

The only ''Holy Grail'' of trading,where you never lose a single trade is non

existent..except the one you see when looking at the mirror..YOU are the ''Holy Grail''..

Just wanted to say THANKS.

You gave me an idea a few months ago on another forum.

[02:39:37 03/11/08] Stalion : hello djcarlos

[02:41:38 03/11/08] Stalion : price didnt continue its downard movement...rather it complied

with the 60% buy window and went bullish..so for now,the 60% window is more potent and time

efficient than the DRAGON FIST in intraday trading

[02:42:45 03/11/08] Stalion : so we put a buy stop @ 1.6200...1st target @ 1.6255..2nd

target @ 1.6320..

[02:44:05 03/11/08] Stalion : [email protected]

[03:57:50 03/11/08] djcarlos : I dont made the entry because i dont was conected.... please

Stal.... remember send a text plase

[03:57:55 03/11/08] djcarlos : please

[03:58:16 03/11/08] djcarlos : It was a very good trade....

[03:58:44 03/11/08] djcarlos : congratulation, but I miss it

[06:54:19 03/11/08] enolase : hi everyone

[06:54:47 03/11/08] enolase : prices were rangebound on Friday, and I should have put a

pending order on the north side

[06:55:06 03/11/08] enolase : but i didn;t and i equally missed the trade alert

[06:55:41 03/11/08] enolase : but a good call.

[08:05:59 03/11/08] enolase : a platform i am trading on has increased the GU spread this

mprning to 16pips

[08:16:12 03/11/08] enolase : noticed it in a GU trade i took this morning. I wonder what it

will be like on the day of the BoE interest rate decision

[08:56:02 03/11/08] klho83 : Missed!!

[10:04:39 03/11/08] Stalion : missed??

[10:04:46 03/11/08] Stalion : hello everyone

[10:06:43 03/11/08] Stalion : 120 pips,$120 minilot,$1200 standard lot was made on the long

gu call..

[11:28:15 03/11/08] Stalion : so..any guesses where gu is going,guys?

[11:30:33 03/11/08] enolase : GU is hovering around the 50% Fibo leve;

[11:30:38 03/11/08] enolase : so I say it will rebound upwards

[11:30:50 03/11/08] enolase : i'm hoping i plotted it right

[11:31:39 03/11/08] enolase : but of couse we watch the charts and see the candle patterns

that play out

[11:32:14 03/11/08] enolase : but for now, it may rebound at least towards the middle

Bollinger

[11:36:28 03/11/08] Stalion : so we put a buy stop @ 1.6230..

[11:37:08 03/11/08] Stalion : 1st target @ 1.6279

[11:37:17 03/11/08] enolase : so Stal, WHAT SAY YE?

[11:39:20 03/11/08] Stalion : sl @ 1.6200

[11:39:40 03/11/08] enolase : Ok, so u agree it's going north?

[11:41:26 03/11/08] Stalion : only time will tell..

[23:17:41 03/11/08] Stalion : the Dragon Fist eventually came down much lower than our 3rd

target of 1.5922,from our sell stop of 1.6100,which brought us a total of

178pips+120pips-64pips-30pips=204 pips

[23:18:14 03/11/08] Stalion : 204 pips,$204 minilot,$2040 standard lot on Monday

 

[forexgreenland]

[10:27:42 04/11/08] Stalion : helloo everyone

[10:28:19 04/11/08] Stalion : sorry for the late entrance...internet connection here was

pretty bad lately...

[10:30:03 04/11/08] Stalion : fortunately, we are still on no man's land for now...price is

still looking for where to head to

[10:36:03 04/11/08] Stalion : eventually price still went way below and beyond our Dragon

Fist call

[10:36:13 04/11/08] Stalion : the sell order

[10:38:09 04/11/08] Stalion : so we put a buy order on gbpusd @ 1.5835...1st target @ 1.5885

[10:41:51 04/11/08] Stalion : 2nd target @ 1.5960...3rd target @ 1.6035

[10:42:37 04/11/08] Stalion : [email protected]

[10:47:14 04/11/08] Stalion : thats like a 100 pip sl...so we use proper risk mgt....we take

off half profits when we are +20 pips ahead..then shift our 100 pip sl back to original

entry

[10:51:46 04/11/08] djcarlos : Stal, the change is +20 pips above the entry point or 1st

target???

[10:52:04 04/11/08] djcarlos : yes its ready, thanks a lot

[11:15:39 04/11/08] Stalion : +20 pips above entry is better due to recent volatility in the

markets..

[11:18:39 04/11/08] fxjedi : Cheers my friend, i hope you are survivng these crazy volatile

markets. I must say in my 20 years of trading Forex i have not seen so much panicking and

shortage of liquidity, I am so pleased i continued developing my in house programmes , been

spending a great deal of time on them this year , to keep me ahead. GL/GT

[11:34:46 04/11/08] djcarlos : hit 1st, I was move the SL and I take 25%.... thanks Stal

[11:35:09 04/11/08] Stalion : 1st target hit @ 1.5885

[11:35:32 04/11/08] Stalion : did you take the trade,namdo?

[11:41:24 04/11/08] namdo : yes i did

[11:48:17 04/11/08] Stalion : helloo there masif

[11:58:01 04/11/08] masif1 : hi stal

[11:58:04 04/11/08] masif1 : no i was too late

[12:25:36 04/11/08] djcarlos : the market is going to go up again... we must take the

entry????

[12:26:54 04/11/08] djcarlos : re-entry???

[12:30:59 04/11/08] Stalion : yes,djcarlos

[12:32:10 04/11/08] Stalion : reentry is in order....we got stooped out in profit when price

retraced back to our original entry point which was also our stop loss..

[12:47:32 04/11/08] fxjedi : firstt taget hit again

[12:48:12 04/11/08] Stalion : yes jedi....please shift your sl to entry now...and take half

profitss

[12:48:31 04/11/08] djcarlos : Im going well

[12:48:55 04/11/08] djcarlos : I put my SL in 1.5870 now

[12:49:28 04/11/08] Stalion : was that were you originally entered,dj?

[12:50:29 04/11/08] djcarlos : 1.5840

[12:51:36 04/11/08] Stalion : hmmmm, dats like 30 pips difference....well its okay if it

fits ur personality,dj

[12:52:06 04/11/08] Stalion : you can still put a 15 to 30 pip trailing stop on

[12:53:09 04/11/08] djcarlos : thanks.... is my second entry in this alert... thanks Stal

[12:54:53 04/11/08] fxjedi : ok trailing stop on

[12:56:18 04/11/08] Stalion : price has to breach the resistance high of 1.5902,before

getting to our 2nd target

[12:56:59 04/11/08] Stalion : of 1.5960

[12:58:00 04/11/08] fxjedi : not sure if it could break ,stal

[13:21:44 04/11/08] fxjedi : ok

[13:49:50 04/11/08] fxjedi : 2nd tagert hit

[14:15:45 04/11/08] enolase : i just missed the party

[14:16:02 04/11/08] enolase : looks like the market is on holiday waiting for the US

election

[16:40:45 04/11/08] djcarlos : ok... im out of this position... but the result was good

[16:40:54 04/11/08] Stalion : 3rd target @ 1.6035 is already hit

[16:42:38 04/11/08] djcarlos : can we enter now... or no yet

[16:44:24 04/11/08] Stalion : if you were not in already, I suggest you step aside for

now...it might be too risky...

[16:45:30 04/11/08] djcarlos : ok..... you are the voice of my conscience

[16:45:35 04/11/08] djcarlos : thanks

[16:46:42 04/11/08] Stalion : you might still put a buy stop at 1.6060,for a 40 pip profit

on our 4th target of 1.6100

[16:53:14 04/11/08] djcarlos : I entered in 1.6060, and out in 1.6090 ..... thanks Stal 30

pips more in the bag.... thanks

[16:58:17 04/11/08] Stalion : 4th target hit @ 1.6100

[16:59:00 04/11/08] Stalion : making a total of 265 pips,$265 minilot,$2650 standard lot on

gbpusd this Teusday

[18:57:58 04/11/08] Stalion : we also put a sell stop @ 1.6000,1st target @ 1.5960...2nd

target @ 1.5915...3rd target @ 1.5870
[18:58:22 04/11/08] Stalion : sl@ 1.6040

[21:07:42 04/11/08] djcarlos : 30 pips in the bag.... thanks Stal

[23:03:56 04/11/08] klho83 : Hi Stal thanks for sms. A bit late .Fisrt target already hit

when I recieved the sms. Entered

[23:04:16 04/11/08] klho83 : small at 1.5960

[05:20:01 05/11/08] djcarlos : HEY!!!!!! wake up everybody Im wining pips with the falling

of GU.... I dont have yours telephone numbers


[09:35:30 05/11/08] fxjedi : looks like gu going up,

[09:36:57 05/11/08] Stalion : cool...

[09:40:34 05/11/08] Stalion : I want to use this opportunity to congratulate Obama for

winning the 08'US Presidential race ....Congratulations...

[09:51:04 05/11/08] fxjedi : 1st trget hit

[09:53:58 05/11/08] djcarlos : what is the second target???

[10:03:58 05/11/08] masif1 : God Bless America

[10:04:22 05/11/08] masif1 : congratultions on America for making the rest of the world

proud

 

[forexgreenland]

The Way Of The Dragon

[10:35:14 06/11/08] Stalion : Helloo everyone

[10:35:51 06/11/08] fxjedi : hi Stal

[10:36:18 06/11/08] klho83 : hi all

[10:54:36 06/11/08] Stalion : We put a buy stop on gbpusd @ 1.5960,1st target @ 1.5988, 2nd

target @ 1.6036...stop loss @ 1.5920..

[10:59:27 06/11/08] fxjedi : thanks,first taget was hit for 20 pips,do we reenter?

[10:59:33 06/11/08] Stalion :remember to take half profits when +20 pips ahead, then shift

sl to entry..

[11:01:43 06/11/08] Stalion : yes, we can reenter at our original buy entry..

[13:40:54 06/11/08] masif1 : hi all

[13:31:06 06/11/08] fxjedi : helloo masif

[13:33:58 06/11/08] Stalion :we got stopped out on our reentry buy order,so we put a sell

stop @ 1.5955..1st target @ 1.5915..2nd target @ 1.5855..stop loss @ 1.5998

[13:55:20 06/11/08] fxjedi : 1st taget hi t

[13:56:18 06/11/08] Stalion : 2nd target @ 1.5855...

[13:58:00 06/11/08] fxjedi : i take off half profits now?

[13:58:18 06/11/08] fxjedi : second target hit

[13:58:46 06/11/08] Stalion : great!

[14:00:10 06/11/08] Stalion : 100 pips on our 2nd target...less 60 pips lost on previous

entry...

[14:05:02 06/11/08] Stalion : cool...

[14:23:20 06/11/08] masif1 : 2nd target hit!

[14:23:27 06/11/08] masif1 : 100+ pips

[14:52:29 06/11/08] djcarlos : can I enter now?

[14:54:09 06/11/08] djcarlos : Please dont forget send me a Sms please i miss the alert.

[14:54:19 06/11/08] djcarlos : Crying Very sad

[14:57:31 06/11/08] djcarlos : Sad

[15:03:52 06/11/08] djcarlos : In the buy stop... i lost a lot... so I need the good

alert.... dont forget the Sms.... thanks

[18:33:32 06/11/08] djcarlos : today was the worst day for me - usd$1000 in loses.....

remember alert me by sms to some signal.... byeeee

[09:06:37 07/11/08] klho83 : Didn't get the d last trade alert. Missed the trade

[09:09:47 07/11/08] Stalion : Helloo everyone..

[09:11:20 07/11/08] klho83 : Stal I missed the last trade

[09:12:10 07/11/08] Stalion : yesterday's?

[09:12:39 07/11/08] Stalion : hi Maximus...

[09:15:05 07/11/08] Stalion : we put a buy stop on gbpusd @ 1.5731...1st target @

1.5775...2nd target @ 1.5825...50 pip sl away..

[09:15:22 07/11/08] Stalion : yes,maximus...where are you from?

[09:15:50 07/11/08] Maximus : Canada, Qc

[09:16:25 07/11/08] Maximus : are you from Côte d'ivoire

[09:17:42 07/11/08] Stalion : Nope....I'm a Nigerian....and quite proud to be one too...

[09:17:52 07/11/08] Stalion : A Quebecker?

[09:18:07 07/11/08] Stalion : Bonjour mon ami...

[09:18:18 07/11/08] klho83 : Smile

[09:18:46 07/11/08] Maximus : bonjour à toi...

[09:19:29 07/11/08] Maximus : Is there any 3nd target...

[09:20:23 07/11/08] Stalion : we first get to 2nd target before a 3rd,Max....it depends on

the upward momentum...

[09:21:17 07/11/08] Maximus : Yes but how many lot or contract are you entering with...

[09:23:16 07/11/08] Stalion : mine's different from yours,Max...I also manage accounts of

different lot sizes..

[09:25:31 07/11/08] Stalion : soo,what size lot are you thinking of using or have

used???Remember risk mgt?

[09:25:55 07/11/08] Maximus : mini lots...

[09:29:51 07/11/08] Stalion : okay....we tend to have up to 3 targets...sometimes,4 to

5....Max..The way we handle it is to allocate percentages or fractions to our minilots when

target is hit or after 20 pips ahead

[09:31:14 07/11/08] Stalion : if using 1 minilot,you can take 0.5 off when +20 pips ahead or

when reaching 1st target....if using 3 minilots, you can shave off half or 1/3third as price

goes along...

[09:32:57 07/11/08] fxjedi : gm all

[09:33:22 07/11/08] Maximus : ok thx for that...

[09:33:34 07/11/08] Stalion : helloo there jedi...

[09:34:41 07/11/08] fxjedi : hi stal, thanks for yesteday,+60 pips on cable was okay for me,

[09:35:56 07/11/08] Stalion : cool....it was supposed to be 120 pips or so...but we were

stopped out for 60 pips earlier in the morning

[09:41:30 07/11/08] Maximus : gbpusd is going up...

[09:53:36 07/11/08] fxjedi : buy entry trigered

[09:58:22 07/11/08] Maximus : Everybody in the trade....

[09:58:44 07/11/08] Stalion : you can still enter your buy order,dj...

[10:06:44 07/11/08] Stalion : you can close half positions now, then shift stop loss to

entry point...

[10:07:58 07/11/08] fxjedi : okay

[10:17:32 07/11/08] Maximus : thx Stalion for this nice trade..Smile

[10:18:34 07/11/08] Maximus : do we reenter if stop out..

[10:19:36 07/11/08] Stalion : lol..we are still waiting for price to hit 1st target,max...by

closing half positions at +20 pips, then shifting sl to entry, we ensure we breakeven at a

profit if price retraces against us...

[10:21:09 07/11/08] Stalion : yes, we reenter after the bearish candle shows signs of moving

back up to our original entry...very prudent in these volatile markets nowadays...

[10:21:46 07/11/08] Maximus : thx Stalion...

[10:23:08 07/11/08] Maximus : wich time frame are you looking at for the trade Salion, tf15

[10:24:56 07/11/08] Stalion : 15 min chart,Max...

[10:25:13 07/11/08] Maximus : ok very good...

[10:27:44 07/11/08] fxjedi : 1st target hit

[10:29:03 07/11/08] Stalion : cool....

[10:29:31 07/11/08] Stalion : did you get the chance to reenter at our original price,max?

[10:30:37 07/11/08] Maximus : no, but I am glad with what i had today, I willl get

experience...

[10:30:41 07/11/08] fxjedi : i did as soon as u talked about that bearish candle,stal

[10:31:39 07/11/08] Stalion : you might still get the chance if price retraces downwards

again...

[10:31:55 07/11/08] Maximus : yes thx...

[10:32:34 07/11/08] djcarlos : ok, thanks... so the trend is bullish???

[10:35:11 07/11/08] Maximus : i think the price will come back...

[10:35:15 07/11/08] Stalion : looks like it, max....you can reenter with a buy order @

1.5797....for our 2nd target...

[10:36:28 07/11/08] Stalion : this time, 2nd target is @ 1.5846..

[10:37:08 07/11/08] Maximus : very good

[10:37:25 07/11/08] djcarlos : it work to me to

[10:39:39 07/11/08] Stalion : no probs.....for now, we are on the bullish gbpusd

trade....12pm Nigerian time, we might enter the USDCAD trade...

[10:39:59 07/11/08] djcarlos : cool

[10:40:20 07/11/08] Maximus : i like the usdcad...

[10:41:29 07/11/08] Stalion : lol....cause you are French Canadian?

[10:41:39 07/11/08] djcarlos : I reentered at 1.5795

[10:41:40 07/11/08] Maximus : yap...

[10:41:54 07/11/08] Maximus : me too reenter...

[10:43:58 07/11/08] djcarlos : I ll expecting at 08:00 hrs in chile..... 12pm nigerian time

[10:47:02 07/11/08] Stalion : cool

[10:48:54 07/11/08] Stalion : [email protected]

[10:58:19 07/11/08] Stalion : no probs...the thing is its much riskier now, dan when price

was at our original entry....the sl at that point would give more breathing space for price

to move than this present one....hope you understand..

[11:02:28 07/11/08] fxjedi : cable going up now,70 pips ahead now

[11:02:54 07/11/08] Stalion : great....

[11:06:35 07/11/08] fxjedi : original 2nd target hit,stal, at 15825,

[11:07:36 07/11/08] Stalion : cool

[11:07:55 07/11/08] fxjedi : any thid taget?

[11:12:02 07/11/08] Maximus : yes when i reenter i put my target price to 1.5846..

[11:14:31 07/11/08] fxjedi : Fund Selling: that's reason for earlier. eurusd 1.25 as this

has become very sensitive to down with stocks crashing...for BlackFriday

[11:20:23 07/11/08] Stalion : hmmmmm....

[11:22:27 07/11/08] Stalion : Black Friday?

[11:24:42 07/11/08] fxjedi : maybe

[11:25:32 07/11/08] Stalion : Black Friday is mainly for those that dont really know what

they are doing in the markets,jedi..

[11:26:55 07/11/08] Stalion : pls dont get me wrong...nothing is 100% perfect in trading and

no one wins ALL trades ALL the time...but to attribute losses to Black Friday without

trading yet, is more of FEAR induced reaction to a particular day in the market

[13:19:25 07/11/08] djcarlos : I read that GU may had pivot in 1.5710, but here Stalion, so

ask to he..

[13:31:30 07/11/08] djcarlos : Stal sorry about the long of this article but I think that is

important for your usd/cad study

[13:31:34 07/11/08] djcarlos : The Canadian economy actually threw the market a bone today,

it's a miracle! The median market expectation was calling for a 10k loss in jobs, but the

economy instead added 9.5k in October. Keep in mind that we had a monster 106.9k print in

September, so to add more jobs on top of that huge gain was extremely impressive.

[13:46:06 07/11/08] djcarlos : Stal did you see Usd/Chf, it having good selling projetion

[14:44:50 07/11/08] djcarlos : hey! maxim do you have open GU buy Stop?

[14:45:15 07/11/08] djcarlos : it work very good...Thanks Stal cheers

[14:46:40 07/11/08] djcarlos : 60 pips in the bag.. good end for the week

[16:33:30 07/11/08] Stalion : lol....No Black Friday,dj?

[20:06:58 07/11/08] Stalion : We put a SELL STOP on GBPUSD@ 1.5660...1st target @

1.5600...sl@ 1.5715

[20:23:22 07/11/08] klho83 : hi stal thank for the text sms

[21:55:45 07/11/08] djcarlos : thanks for the text sms Stal, who said that today are Black

friday????

[22:06:53 07/11/08] djcarlos : good weekend everyone

 

[retiredebtfree01]

Thank you for sharing useful information.We want you to come up with useful information so that will be useful to everyone.

 

[forexgreenland]

Thnks man for sharing to all these great info. I am very interested to

get into forex.

Hi Dreams, its possible to actualize ur forex dreams by the right dedication, proper

training, patience,hard work and positive mental attitude..

this is very cool! I'm learning to much . . . alright!

cool,Justin....me too...

Helloo folks,
Today's price action on the gbpusd was really something to write home about..The

unemployment rate report that was released from the UK was unfavourable to the GBP.The

PREVIOUS figures was at 5.7%, while the economists'expectation was 5.8% which was equal to

the ACTUAL release..The higher the unemployment rate,the lower the value of pounds sterling

due to selling on the negative news from UK.
Although it's generally viewed as a lagging indicator, the number of unemployed people is an

important signal of overall economic health because consumer spending is highly correlated

with labor conditions;
More than 375 pips were made this wednesday from GBPUSD drop...$375 minilot..$3750 standard

lot..

[22:08:01 11/11/08] Maximus : Hi Stalion...

[22:08:29 11/11/08] Maximus : any order that are still valid...

[22:11:43 11/11/08] Stalion : sell stop on gu at 15400...1st target at 15360...2nd target at

15305...3rd target at 15285...40 pip sl

[22:11:56 11/11/08] djcarlos : 1st target of sell stop??

[22:16:15 11/11/08] Stalion : no probs...

[22:16:54 11/11/08] Stalion : max, you can enter a sell stop at 15370

[22:17:05 11/11/08] Maximus : sp now the sl is that the entry if you get the first target,

am I right or not...

[22:17:21 11/11/08] Maximus : ok Stalion...

[22:18:02 11/11/08] Maximus : same target....

[22:18:28 11/11/08] Stalion : yes

[00:48:59 12/11/08] djcarlos : I read that 1.5270 is the pivot to GU

[09:07:27 12/11/08] Maximus : Hi any trades...

[09:15:57 12/11/08] Stalion : Helloo everyone

[09:21:47 12/11/08] Stalion : not yet, max....we wait for a while....as you can see, the

market is moving back and forth for now...wouldnt do to jump in where there's no sign of a

breakout yet..

[09:22:01 12/11/08] Maximus : yes no prob...

[09:24:00 12/11/08] Stalion : one of the hardest things in trading is knowing when NOT to

trade...easier said than done..

[09:25:45 12/11/08] Maximus : yes it is so true...

[09:41:09 12/11/08] Stalion : market's slow

[09:42:10 12/11/08] Maximus : in my hiumble opinion I think that the market will break down

again with the GBPUSD...

[10:07:27 12/11/08] Stalion : so, entering at 15400 or 15370 is okay

[10:08:09 12/11/08] Stalion : remember to take half profits when +20 pips away

[10:09:20 12/11/08] djcarlos : i dont made the entry

[10:11:06 12/11/08] djcarlos : can i enter now... at 1.5360???

[10:14:35 12/11/08] Stalion : Hi dj

[10:15:01 12/11/08] Stalion : welcome to the party...

[10:15:31 12/11/08] djcarlos : hi, i entered at 1.5350..... i come late

[10:15:45 12/11/08] Stalion : though a bit late,a sell stop at 1.5345 would be more

prudent...

[10:17:05 12/11/08] Stalion : going for our 2nd target of 15305

[10:17:29 12/11/08] Maximus : I took 20 pips and i will reenter....will see...

[10:17:39 12/11/08] djcarlos : ok, its down trend??

[10:20:10 12/11/08] Stalion : we cant tell for now...though looking at the hourly, 4hr,daily

and weekly charts shows that gbpusd have been on a prevailing downtrend..

[10:21:15 12/11/08] Stalion : price might still very well retrace back up....only time will

tell..our job is to position ourselves to take advantage of price movements when we can

[10:22:56 12/11/08] romandaw : morning

[10:23:30 12/11/08] romandaw : nb news about to come out

[10:24:24 12/11/08] Maximus : yes Stalion the gbpusd will retrace...

[10:37:50 12/11/08] romandaw : i was trading the same move without even knowing it.

[10:37:58 12/11/08] romandaw : the gu short

[10:38:49 12/11/08] Stalion : helloo there roman

[12:09:47 12/11/08] Maximus : Hi Stalion...

[12:10:22 12/11/08] Maximus : thx for the pips....

[12:11:54 12/11/08] Stalion : my ohh myy..!price is moving ALL D WAY DOWN!100 plus pips

ahead of 2nd target

[12:13:06 12/11/08] Stalion :hope ur on a trailing stop, max?

[12:16:06 12/11/08] Maximus : Already out of the trade took 50 pips and get out...

[12:16:43 12/11/08] Stalion : lol!

[12:16:57 12/11/08] Stalion : wise move....

[12:17:50 12/11/08] Maximus : Thx Stalion for the call...

[12:22:17 12/11/08] Stalion : no probs.....the uptrend wasnt sustainable eventually

[16:22:47 12/11/08] Stalion : so for today, wednesday, we put a sell stop gu @ 1.5164....1st

target @ 1.5124...2nd target at 1.5095 pip sl away..

[16:37:06 12/11/08] enolase : hi everyone

[16:37:24 12/11/08] enolase : i can't believe i forgot that today was the BoE inflation

report

[16:37:47 12/11/08] enolase : a news item that has delivered in xcess of 300pips downward

movement on the GU pair in the last four months

[16:38:08 12/11/08] enolase : anyway, i think the dive will still continue

[17:38:29 12/11/08] Stalion : cool...

[10:09:20] Stalion : so we put a buy stop on gu at 1.4970...1st target at 1 5025..2nd target

at 1.5080...sl 50 pips away...