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‘’Metaphorically, this present global economic recession is like a World Economic War in humanitarian proportions! And it supposed to last for three and half years. YES, 31/2 YEARS, If individuals and nations apply these principles of Arise and Shine!
The season of recovery begins today as each implement these eternal principles that never fails.
Prophetically, this global economic crisis is also God’s way of saying that world leaders, including President Obama, should take the right direction and eschew pride and greed in charting policies that affect the common man. Greece, Italy, Spain were Old Empires in history. Alexander the Great, Julius Caesar and Ferdinand II founded these Empires, that are presently in the front burner of the global economic recession’’.
Arise and Shine Above the Recession with God the Sun [Kindle Edition] by Aghogho Puegeren
www.amazon.co.uk/dp/B006E2LYTE
‘’Metaphorically, this present global economic recession is like a World Economic War in humanitarian proportions! And it supposed to last for three and half years. YES, 31/2 YEARS, If individuals and nations apply these principles of Arise and Shine!
The season of recovery begins today as each implement these eternal principles that never fails.
Prophetically, this global economic crisis is also God’s way of saying that world leaders, including President Obama, should take the right direction and eschew pride and greed in charting policies that affect the common man. Greece, Italy, Spain were Old Empires in history. Alexander the Great, Julius Caesar and Ferdinand II founded these Empires, that are presently in the front burner of the global economic recession’’.
Arise and Shine Above the Recession with God the Sun [Kindle Edition] by Aghogho Puegeren
www.amazon.co.uk/dp/B006E2LYTE
[09:02:51 21/04/09] Stalion : we put a buy stop on GBPUSD @ 1.4574...1st target @
1.4613...2nd target @ 1.4645...stop loss @ 1.4510..
[09:03:08 21/04/09] fxjedi : hi stal
[20:59:09 21/04/09] Stalion : hi paul
[20:59:50 21/04/09] Stalion : do we trade da retracement?
[21:00:56 21/04/09] Stalion : sell 1.4662..1st target @ 1.4615...2nd target @ 1.4560
[21:01:31 21/04/09] Stalion : stop loss @ 1.4710
[22:57:24 21/04/09] Paulfx : hi stallion, did you get my email?
[23:31:44 21/04/09] Paulfx : my question was regarding how you are calculating retracement
[23:32:02 21/04/09] Paulfx : on the call you posted not too long ago
[10:07:47 22/04/09] Stalion : helloo Paul...
[10:09:56 22/04/09] Stalion : total of about 102 pips made to 2nd target around the early
hours of this morning
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[10:11:38 22/04/09] Learning_pips : hi stal
[10:19:46 22/04/09] Stalion : helloo LP....
[10:24:11 22/04/09] Learning_pips : I see so if the price moves the opp direction and then
moves agian in the direction of the call we are supposed to re-enter??
[10:27:00 22/04/09] Stalion : more often than not, LP...it depends...if the charts show its
a high probability thing, we reenter..
[10:28:36 22/04/09] Stalion : there are also times where you reenter but get stopped out
again and again..most times, it coz price is trying to shake off the weak hands with as few
traders to its target...
[10:28:39 22/04/09] Learning_pips : cool
[10:29:22 22/04/09] Stalion : while most times, we are just simply wrong..maybe due to range
consolidation
[10:29:41 22/04/09] Learning_pips : hmm
[10:29:44 22/04/09] Stalion : or some other technical/fundamental reason
[10:30:23 22/04/09] Learning_pips : because I have often seen the calls are absolutely spot
on targets but sometimes its the timing thats different
[10:30:41 22/04/09] Learning_pips : I am talking about my own calls
[10:31:06 22/04/09] Learning_pips : sometimes even urs too
[10:32:07 22/04/09] Stalion : wrong timing....wrong entries....
[10:32:45 22/04/09] Stalion : right timing, right entries
[10:32:53 22/04/09] Learning_pips : hmm
[10:34:44 22/04/09] Learning_pips : i still have some understanding on levels and price but
timing wise not that good
[10:35:44 22/04/09] Learning_pips : hammer on 15min gbpusd around last support area
[10:44:20 22/04/09] Learning_pips : stal i hv entered buy with a stop on the hammers low
[10:44:45 22/04/09] Stalion : buy stop on GBPUSD @ 1.4575..1st target @ 14595..2nd target @
14609,,,
[10:46:49 22/04/09] Stalion : sl @ 1.4521
[10:55:54 22/04/09] Paulfx : stal great call i was in it but didnt get alll the pips...
still ok took profit and no sl
[10:56:03 22/04/09] Paulfx : morning lp
[10:58:27 22/04/09] Learning_pips : hw s it goin
[10:59:39 22/04/09] Stalion : helloo Paul...
[10:59:44 22/04/09] Paulfx : its always great in the land of profits
[11:00:10 22/04/09] Stalion : am preparing a response to your question for general
edification...
[11:00:37 22/04/09] Paulfx : ok thank you! young grasshopper eager to learn!
[11:01:05 22/04/09] Stalion : Greenland...the Land of Profits...nice connotation, Paul...
[11:01:53 22/04/09] Stalion : the time of profits or success is when ur most
vulnerable....you can fall if no proper risk mgt
[11:02:18 22/04/09] Stalion : and overconfidence
[11:02:36 22/04/09] Paulfx : yes it is- fear and greed
[11:03:07 22/04/09] Stalion : hmmmm...
[11:09:13 22/04/09] Paulfx : i was asleep to reenter for that gbp call last night, would
have been another good play but like you and LP were talking about earlier could have been
stopped out
[11:15:03 22/04/09] Paulfx : would it be wise to make a play on the retracement?
[11:15:04 22/04/09] Stalion : maybe you could trying pulling the trigger, then ask some
incisive questions later...got ur question thru pm less than an hour after sending the
gbpusd call last night...the opportunity lay waiting for hrs before finally going down
around 0300 GMT....you had time ,Paul...but you hesistated
[11:16:03 22/04/09] Learning_pips : second target reached
[11:16:09 22/04/09] Paulfx : ok... wow... obviously not!
[11:16:31 22/04/09] Paulfx : now that is what i call momentum!
[11:16:43 22/04/09] Stalion : 1st target hit....@ 14595....current price now 1.4610
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[11:16:47 22/04/09] Learning_pips : wow it was so quick
[11:17:15 22/04/09] Stalion : dats intraday trading for you, Paul
[11:17:25 22/04/09] Stalion : did you enter?
[11:17:28 22/04/09] Learning_pips : i closed out with 33pips
[11:18:40 22/04/09] Paulfx : yes
[11:19:28 22/04/09] Stalion : cool
[quote="Paulfx"]How are you basing the retracement? I am looking on the hour chart and
seeing a low of 1.4466 04/21 00:00h and a high of 1.4707 04/21 16:00h. Are those figures
correct? Also, are we looking to retrace to what level? 60% 1.4614 about? Thank
you,[/quote]
Helloo Paul, I assume you are taking about the GBPSD call made in the early hours of the
morning..Those first set of figures are correct, in a way...but you need to go back a step
further...Since you seem like more of a system trader,I'll try and make some exposition
using fibonnacci retracements on the charts..back a step further,around 17/4/09, to a low at
21/4...That is the 1st step...
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The 2nd step is down below, where am replying fahd..
[QUOTE=fahd;15101]Hi everybody,
According to the signal today, GBP/USD had to go up 40 pips in case of a UK's claimant count
change of 99k or lower. However, the very opposit just occured as GBP/USD went down by more
than 50 pips at the count of 73.7k
Can anybody explain to me what i am missing here![/QUOTE]
Helloo fahd, maybe we might make a prognosis of what you are missing here..Hi Felix, hope
you dont mind if I answer him...just a symphony of events that flows like an epiphany..
UK Claimants count report that came out around 4.30 a.m this Wednesday morning,is the change
in the number of people claiming unemployment-related benefits during the previous
month..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..So it's the first indication of the employment situation,
released a month earlier than the Unemployment Rate...
The previous change was 136.6k (revised), while economists are forecasting 118k ...but the
actual result turned about to be 73.3k..
To cut long story short, the market has already discount that piece of
information..Normally, if the ACTUAL was less than the EXPECTED,it is good for the
currency...In this case, technical wise, price had to fulfill the 60% window before rocketed
upwards, according to fundamentals..That downward retracement was observed from,''on da
retracement''
[21:00:56 21/04/09] Stalion : sell 1.4662..1st target @ 1.4615...2nd target @ 1.4560
[21:01:31 21/04/09] Stalion : stop loss @ 1.4710
Now GBPUSD ressurrects...figuratively..
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That, mon ami...is ze 2nd step..
Sayonara..
[quote="Mystikal"][09 17/04/09] Stalion : helloo there, LP....
[09 17/04/09] Stalion : We put a sell stop on GBPUSD @ 14795...1ST TARGET @
14735...2ND TARGET @ 14665.. STOP LOSS @ 14850...
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FINANCIAL TIMES
"Peripheral care should be the central concern"
By George Soros
The Group of 20 meeting is a make-or-break event. Unless it comes up with practical measures
to support the less developed countries, which are even more vulnerable than the developed
ones, markets are going to suffer another sinking spell just as they did last month when Tim
Geithner, Treasury secretary, failed to produce practical measures to recapitalise the US
banking system.
This crisis is different from all the others since the end of the second world war.
Previously, the authorities got their act together and prevented the financial system from
collapsing. This time, after the failure of Lehman Brothers last September, the system broke
down and was put on artificial life support. Among other measures, both Europe and the US in
effect guaranteed that no other important financial institution would be allowed to fail.
This necessary step had unintended adverse consequences: many other countries, from eastern
Europe to Latin America, Africa and south-east Asia, could not offer similar guarantees. As
a result, capital fled from the periphery to the centre. The flight was abetted by national
financial authorities at the centre who encouraged banks to repatriate their capital. In the
periphery countries, currencies fell, interest rates rose and credit default swap rates
soared. When history is written, it will be recorded that - in contrast to the Great
Depression - protectionism first prevailed in finance rather than trade.
Institutions such as the International Monetary Fund face a novel task: to protect the
periphery countries from a storm created in the developed world. Global institutions are
used to dealing with governments; now they must deal with the collapse of the private
sector. If they fail to do so, the periphery economies will suffer even more than those at
the centre, because they are poorer and more dependent on commodities than the developed
world. They also face $1,440bn (€1,060bn, £994bn) of bank loans coming due in 2009. These
loans cannot be rolled over without international aid.
Gordon Brown, the UK prime minister, recognised the problem and designated the G20 meeting
to address it. Yet profound attitudinal differences have surfaced, particularly between the
US and Germany. The US has recognised that the collapse of credit in the private sector can
be reversed only by using the credit of the state to the full. Germany, traumatised by the
memory of hyperinflation in the 1920s, is reluctant to sow the seeds of future inflation by
incurring too much debt. Both positions are firmly held. The controversy threatens to
disrupt the meeting.
Yet it should be possible to find common ground. Instead of setting a universal target of 2
per cent of gross domestic product for stimulus packages, it is enough to agree that the
periphery countries need aid to protect their financial systems. This is in the common
interest. If the periphery economies are allowed to collapse, the developed countries will
also be hurt.
As things stand, the G20 meeting will produce some concrete results: the resources of the
IMF are likely to be doubled, mainly by using the mechanism of the "new arrangements to
borrow", which can be activated without resolving the vexed question of reapportioning
voting rights.
This will be sufficient to enable the IMF to help specific countries at risk but it will not
provide a systemic solution for the less developed countries. Such a solution is readily
available in the form of special drawing rights. SDRs are complex but they boil down to the
international creation of money. Countries that can create their own money do not need them
but periphery countries do. The rich countries should therefore lend their allocations to
the nations in need.
Recipient countries would pay the IMF interest at a very low rate, equivalent to the
composite average treasury bill rate of all convertible currencies. They would have free use
of their own allocations but would be supervised in how the borrowed allocations were used
to ensure they were well spent.
In addition to the one-time increase in the IMF's resources, there ought to be a big annual
issue of SDRs, of say $250bn, as long as the recession lasts. It is too late to use the
April 2 G20 meeting to agree this, but if it were raised by President Barack Obama and
endorsed by others, this would be sufficient to give heart to the markets and turn the
meeting into a resounding success.
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[08:47:01 21/04/09] Stalion : helloo there
[08:51:02 21/04/09] Stalion : we are seeing a 123 bottom on the GBPUSD 15 minute chart, so
standing by for a bullish move
[08:53:20 21/04/09] Learning_pips : cool
[08:54:49 21/04/09] Learning_pips : news also coming out today
[09:02:51 21/04/09] Stalion : we put a buy stop on GBPUSD @ 1.4574...1st target @
1.4613...2nd target @ 1.4645...stop loss @ 1.4510..
[09:03:08 21/04/09] fxjedi : hi stal
[09:05:15 21/04/09] Learning_pips : ok
[09:35:58 21/04/09] Learning_pips : stal the news came out a little better than expected
[09:36:54 21/04/09] Learning_pips : ok buy stop triggered
[09:36:56 21/04/09] Learning_pips : we are in
[09:48:42 21/04/09] Learning_pips : price is hesitating
[09:59:21 21/04/09] Stalion : cool
[10:04:11 21/04/09] Learning_pips : looks like we r on our way
[10:07:16 21/04/09] Learning_pips : closed 1 lot with 25pips and moved SL to breakeven
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[10:15:54 21/04/09] Learning_pips : ok second lot stopped out
[10:21:47 21/04/09] Learning_pips : hey paul..did u pick up the last trade
[10:29:00 21/04/09] Learning_pips : stal I have a question around this call, did u pick it
up off the 15min chart or the 4hr chart?
[10:32:10 21/04/09] Stalion : good work, LP
[10:34:08 21/04/09] Learning_pips : thnx
[10:34:59 21/04/09] Stalion : but how come u were stopped out on ur 2nd lot wen SL is
supposed to be around 14510...
[10:35:59 21/04/09] Learning_pips : no actually I moved second lot to entry point
[10:36:56 21/04/09] Learning_pips : but then after that candle with the long upper shadow I
entered again on the next candle
[10:37:53 21/04/09] fxjedi : am up 30 pips,stal
[10:38:24 21/04/09] Stalion : cool...your learning well...
[10:38:40 21/04/09] Stalion : the call was taken off the 15 min chart..
[
[10:58:11 21/04/09] fxjedi : ok
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[09:36:40 17/04/09] Stalion : helloo there, LP....
[09:39:32 17/04/09] Stalion : We put a sell stop on GBPUSD @ 14795...1ST TARGET @
14735...2ND TARGET @ 14665.. STOP LOSS @ 14850...
[09:40:58 17/04/09] Learning_pips : hmm
[09:42:30 17/04/09] Stalion : looks like the CHF report got the swiss pair in an uptrend
frenzy....
[09:43:35 17/04/09] Learning_pips : ok. I am only lookin at gbpusd for now.just one pair is
enough for me to begin with lol
[09:45:26 17/04/09] Stalion : of course, gbpusd might still have some strength for a rally
when the CAD report comes out in a few minutes
[10:06:47 17/04/09] Learning_pips : sell stop got triggered
[10:36:06 17/04/09] Learning_pips : made 35 pips before I did something while putting a
trailing stop and my position got closed by mistae:(
[quote="Paulfx"]Stallion, I didnt enter the market on this play however it seems like it was
stopped out. After entry, I have a candle with high tick of 1.4850 which was also the SL.
From the chat log, it seems like learning pips picked up this play and made money. What am
I missing? Thank you,[/quote]
Hi Paul...hope you are enjoying your weekend?what you might have missed was proper risk
management.. Our sell entry on the cable,last friday, @ 14795 was on the mark at the first
foray, which went to a low of approximately 43 pips downward before reversing back beyond
our initial entry, up to a high of 14850..
Assuming you had entered, you would utilize the risk mgt tool of ''closing out half minilots
when +20 pips ahead, then shifting stop loss to initial entry level''...in this case,
SL=14795=initial sell entry...
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By applying that rule, you would have been stopped out at breakeven profit, since you've
already closed out half your position at +20 pips...Remember price made a freefall down to
43 pips or so, to reach a low of 14752, 17 pips shy of our 1st target of 14735..
So its more of a case of good entry but less spectacular finishing/exit, if proper risk
management is not adhered to...like you observed on the log, Learning pips took out 35 pips
or so from the trade, which was enough for him for that day.. also we had like 3
opportunities to go in and out of the trade for 30 or more pips that friday...so it is still
valid till Monday..Hope you understand...
[QUOTE=onwukarisa;14226]Hello Mystikal,
Please i will like to ask: if a country's interest rate is held ,will it depreciate or
appreciate against other currencies?
Am sorry if ur annoyed with the last question i asked the other time,dont mean any harm.just
trying to learn ok. stay cool.
Onwuka Arisa[/QUOTE]
Learn from yesterday, live for today, hope for tomorrow. The important thing is not to stop
questioning.
- Albert Einstein
Helloo onwuka, how is it going? No offence taken, mon ami...we all learn at each of our
different levels in life...not just in trading...
To answer your question, we might take a little look at what interest rates mean.. They are
more or less payment for the use of a given sum of money, or its equivalent over a period of
time. Implied in this defination are demand and supply as determinants of market price, in
which price is the rate of interest. Interest is a COST to demanders of funds and an item of
INCOME to suppliers of funds, and the rate of interest influences their entry into a given
market in varying ways and degrees. The rate is stated on the basis of one year(per
annum),even though loans can be made for shorter or longer periods.
You see, the market referred to, is a credit market, in which debt is seen as an obligation
to pay money and credit is the right to recieve money. Such markets bring together borrowers
and lenders(investors), and in them are established and communicated the prices at which
they are willing to make transactions.
The price of credit is an interest rate, and that which is demanded and supplied are credit
or debt instruments, whose primary function is to allow control over money to be
transferred. Suppliers of debt instruments are demanders of funds, and demanders of such
instruments are suppliers of funds, so that in essence, it is the price of these instruments
at a given time which gives the market yield, or rate of interest. Interest rations the
supply of savings, serves as compensation to lenders, helps cover the costs of risks, and
can be used to help stabilize an economy or promote growth.
So onwuka, if a country's interest rate is held, under normal market conditions, it tends to
appreciate against other currencies with relatively lower interest rates. Short term
interest rates are the important factor in currency valuation - traders look at most other
indicators merely to predict how rates will change in the future;thats where we get to the
inflation/unemployment tradeoff.. If a country's Central bank feels inflation is high, they
usually increases interest rates in order to mop up excess liquidity..but that constricts
credit flow for growth and productivity which increases the unemployment rate..
But wait..
if unemployment is the top priority of the government, then interest rates are lowered in
order to increase credit expansion flows in the system so as to enhance employment through
wider growth and productivity...but that tends to increase inflation due to excess
liquidity...a TRADEOFF in the country's kitty..
http://sports.yahoo.com/top/news?slug=ys-rcsbadspenders041509&prov=yhoo&type=lgns
[QUOTE=Katipunero]Hi, FxGreenLand
I have read some of your posts dating last October of 2008 and I must say that I'm impressed
with the way you analyze the markets. I would like to request from you, if its possible that
you could share with me your next trading plans on the markets. Since I live in a different
timezone, I don't think I can spot you online so is there a way that I can receive on my
email or on my inbox here in this forum your trading advices on the prevailing market
movements? I would appreciate any help you could extend :D
By the way, I've been trading for over a year now and my trading is fine but I still haven't
find the right system for me.. maybe you could help since I've found your trading system to
be really good
Kind regards,
Katipunero :cool:[/QUOTE]
Hi katipunero, thanks for your mail...the right trading system is essential for the right
individual...not all size fits all...if you want to take up my services, then you are
free...just send a mail specifying which of them you are interested in, and I'll get back to
you,ok...
The Arabs have an ancient proverb that affirms:
He who knows not, and knows not that he knows not,
is a fool—shun him.
He who knows not, and knows that he knows not,
is a student—teach him.
He who knows, and knows not that he knows, is asleep—wake him.
He who knows, and knows that he knows is wise—follow him.
Marike says, "Hi Sylvester,
I am a south african girl and very interested in learning how to trade forex. Is there
anyone in Johannesburg or website that can teach me the basics in trading because I have NO
experience.
Thanks
Marike.".
Hi Marike, sorry I'm in Lagos,Nigeria and am not yet familiar with anyone in
johannesbourg,SA that could teach you the basics...You can try www.babypips.com, and
www.forexfactory.com, where some forex basics are posted.
Thanks once again.
Maximum wrote
Hi Sylvester, I was watching your alpari account that you provide on your site and I was
like very surprise when I saw that the account when from 9500$ to less then 7000$, what
happen, there was a big loss of 1000$ for one trade, could you explain to me please.... thx
Max
Helloo Max,
Thanks for your mail...The drawdowns were brought about by my divided focus lately, for I'm
about completing my new forex book which has a deadline of a couple of weeks. This new
project, which had been postponed so many times earlier,has taken up my time for dedicated
trading...like a tradeoff, I might have to suspend market action for a short period in
order to fully concetrate on the task at hand...which is writing and publishing this
expository manuscript, without much external distractions.
So max, dont worry,once my new project is completed, I;ll pick up from where I left off,
presumably in a month's time...so as to give my usual undivided focus back on real time
trading..
Thanks for your concern, my friend....please ask any questions or comments you might feel
like communicating in the meantime..
[quote=jrob195;331146]Hi
When you specify limits or stops, does it always work.[/quote]
Honest Injun, no padner...nothing always work all the time...remember we are living in an
imperfect world...the only method to mitigate against unnecessary losses from trade entries
and exits, is proper risk/money management and discipline.
http://news.yahoo.com/s/ap/20090415/ap_on_bi_go_ec_fi/economy
[09 15/04/09] Learning_pips : hello...hi stallion are u there
[12 15/04/09] Stalion : helloo paul,Learningpips
[12 15/04/09] Stalion : we put a sell stop on gbpusd @ 14950
[12 15/04/09] Stalion : 1st target @ 14928....2nd target @ 14902...50 pips sl
[12 15/04/09] Paulfx : hello stallion
[13 15/04/09] Paulfx : 1st target reached - closed out 1/3 of positions moved sl to BE
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[13 15/04/09] Stalion : cool
[13 15/04/09] Stalion : how many minilots are you using,paul?
[13 15/04/09] Paulfx : stallion how did you come up with the 1.4950 as entry?
[13 15/04/09] Paulfx : im only doing .3 right now until i get familiar with system
then will move to 3 standard
[13 15/04/09] Stalion : on how much equity?
[13 15/04/09] Paulfx : $3k right now with the minis
[13 15/04/09] Stalion : hmmm....you see, in trading, we know that risk mgt is very
important,paul...so if your risk or potential oss does not exceed 2 to 5% of your total
equity while trading, you might use standard lot...
[13 15/04/09] Stalion : the entry points are also important as the risk mgt
factor....how much can I stand to lose if my entry is not accurate or if my timing is not
precise...
[13 15/04/09] Paulfx : i will have to review those figures looks like my $3k would not
be enough right now
[13 15/04/09] Stalion : yes....thats prudent....we missed some early morining moves
earlier....but how I came up with the entry point of 1.4950 was a trendline break around
that region on the 15 minute chart
[13 15/04/09] Paulfx : i would be interested in reading your book when do we get a
preview?
[13 15/04/09] Stalion : lol....the book has been postponed times without
number,paul...its only in my free time that I get to put the finishing touches and review
it...dats why ur questions and comments pertaining to forex, would be a nice addition to the
book...for now, trading, amongst other activities,tend to slow the Muse
[13 15/04/09] Stalion : some time would be necessary before we get the chance for
preview
[13 15/04/09] Paulfx : its not liking the 4925 mark should be a nice move when it
breaks thru
[13 15/04/09] Stalion : hmmmm, there is a harami cross at the previous 15 min candle,
while the 4925 mark is around the 50% level,paul
[13 15/04/09] Stalion : just a period of indecision before price makes its next move
[13 15/04/09] Paulfx : ok i have the same on my charts
[13 15/04/09] Stalion : you can still close out 1 more minilot,while adjusting your
stop loss to our sell entry level
[13 15/04/09] Paulfx : i was waiting for 2nd target to hit before i close out a mini
[13 15/04/09] Paulfx : i got stopped out
[13 15/04/09] Stalion : on breakeven?
[13 15/04/09] Paulfx : yes i broke even on the other 2 minis
[13 15/04/09] Stalion : cool....
[13 15/04/09] Stalion : I was stopped out on breakeven too....though 2 minilots were
closed out before price got advancing upwards...the remaining 1 minilot was a sacrifice
[13 15/04/09] Paulfx : i try to stick religiously to trade management taking profit
and sl
[13 15/04/09] Paulfx : on the 1h chart we are still in a downtrend
[13 15/04/09] Stalion : yes....the current trend on the hourly chart is down....usdchf
is moving up
[14 15/04/09] Paulfx : anything on the horizon to look out for?
[14 15/04/09] Learning_pips : hi paul
[14 15/04/09] Paulfx : hey there
[14 15/04/09] Stalion : price went back to our 1st target again
[15 15/04/09] Paulfx : are we going to re-enter?
[15 15/04/09] Stalion : to be on a safe side, we put a buy stop at 14970
[15 15/04/09] Stalion : 1st target @ 14990...2nd target @ 15035
[15 15/04/09] Paulfx : bah i missed the entry
[15 15/04/09] Stalion : 40 pips sl
[15 15/04/09] Stalion : hmmmm...you can still enter at current market price of 14970
[15 15/04/09] Paulfx : i got in close to entry price
[15 15/04/09] Stalion : cool
[15 15/04/09] Paulfx : not much activity today on the markets it seems like
[16 15/04/09] Stalion : helloo paul
[16 15/04/09] Paulfx : hello stallion - looks like gbpusd is catching a downward trend
[16 15/04/09] Paulfx : 1h chart still bullish
[16 15/04/09] Stalion : yes....we jus have to sit on our hands and wait for price...
[16 15/04/09] Stalion : 1st target hit
" rel="nofollow" target="_blank">http://i62.servimg.com/u/f62/11/82/15/01/wedgud11.gif[/img]
[QUOTE=khairul6355;22912]How to set the graph become like this ?[/QUOTE]
Hi khairu, the red and blue lines you see on the chart is brought about through putting up a buy or sell order, which reflects on the ''graph''...To write out a text, just click the ''Insert'' tab above, next to ''View'' tab on your MT4 platform.. There, you can also experiment with trendlines, shapes, arrows, fib, gann..etc...just play around with it first and see how it translates on your chart.
So for today, Teusday, we could see a head and shoulder pattern on the GBPUSD 15 min chart,so we are looking for a bearish move down south...wow..
Sell stop on cable @ 14614...1st target @ 14565..2nd target @ 14535..50 pips stop loss...Take half profits when +20 pips ahead, then shift stop loss to sell entry level.
[QUOTE=Fxcool;22843] Hmmm the chart is showing breakout for short sell
Cool..Fxcool...if it breaks our triangle to the downside, we are looking at a short sell,
like you said..but if price breaches the ''HEAD''(1.4775) level of the Head and shoulder pattern, then we might be seeing the continuation of a new uptrend..so buy stop at 14775..1st target @ 14825, 2nd target @14865..50 pip stop loss
" rel="nofollow" target="_blank">http://i82.servimg.com/u/f82/11/82/15/01/teusda10.gif[/img]
[QUOTE=onwukarisa;13783]Hello Stallion,
You have not been posting for some time now. hope all is okay???
Please if you dont mind,i will like to ask you to tell me how you do draw your
trendlines on the price chart and MACD.
what and what do you consider or do before and while drawing them.
Also i want to develop a good entry and exit method while trading so that i will not enter
late or leave too soon on the market. please advise me on how to do this .
Please advise
Onwuka Arisa[/QUOTE]
Helloo there Onwuka, nice to get your mail... We thank God for everything..We should also
know there are times we shouldnt ignore our personal needs in order to satisfy others
needs..A burnt out Stallion is of no good to himself or to the people..just cant give out
from an empty cup whether you see it half filled or empty..so creative silence or quiet time
is essential for each and every human being..Mind you, you dont have to be a hermit
hibernating in a cave or a monk in the Himalayas before you get the centre of balance
within.. seems your questions have been asked before, and the answer was given..most times,
I often had to go back and read through the whole thread so as to get a better perspective
of where we are coming from and where we are
going..
http://www.forexpeacearmy.com/forex-forum/forex-trading-systems-strategies/1894-forex-chart-pattern-recognition-technique-breakout-system-7.html#post7998
" rel="nofollow" target="_blank">http://i82.servimg.com/u/f82/11/82/15/01/theawa12.gif[/img]
http://www.forexpeacearmy.com/forex-forum/forex-trading-systems-strategies/1894-forex-chart-pattern-recognition-technique-breakout-system-14.html#post10269
To summarize, trendlines are connected from the current resistance/support high or low to
the previous resistance/support high or low of the candlebars.
It is also connected, if using MACD,between the current peak(highs) to the previous peak or
between the current trough(lows) and previous troughs of the MACD line. When the price
trendline is ascending in an uptrend and MACD trendline is descending in a downtrend, it is
called NEGATIVE DIVERGENCE.. When price trendline is downward and MACD trendline is upward,
it means POSITIVE DIVERGENCE.
Good entries and exits are also strategies that depends mainly on risk management principles
like risk to reward ratios.Most newbie traders/sportsmen wants to know the tricks...instant
gratification without expenditure of responsibilty..Your entries might be good but whatabout
whipsaws?what if you had perfect entry but the timing of the move sucks?How much are you
prepared to risk if the ''perfect entry'' does not manifest? Those are questions we should
ask ourselves before and during trading..
[QUOTE=Natalie;2439]Can anyone recommend a good platform for trading CFDs?[/QUOTE]
Hi Natalie, to paraphrase annacoulli..
[quote="annacoull"]Brokers fall into 3 broad categories: ECN, non dealing and market maker
and from experience I have found there are at least 16 questions you should ask before
opening a forex account and these are as follows:
1. What is the net capital of the company
2. Is the company regulated
3. Is the company a dealer or a broker
4. What are the leverage and margin rules
5. What are the costs of trading
6. Does the company offer telephone support
7. How easy is the platform to use
8. Is the trading platform reliable
9. What is the charting like
10. How long has the company been in business
11. What reputation does it have in the forums
12. Trading style and order types
13. Micro, mini and regular account spreads
14. Interest on the account
15. Hedge trades allowed
16. Rollover
Once you have your answers it is so important to select a broker which matches your trading
style - it is pointless opening an account with a broker which is classified as a market
maker and then expect to be able to scalp - you will not be able to do so because spreads
widen alarmingly when the markets are volatile. [/quote]
So CFDs(Contracts for Difference), are cash settled derivatives that reflect their
underlying markets like stocks, futures or forex contracts.CFDs can easily be traded short,
transaction speeds are usually fast, and they have low margin specifications, like 10% for
shares, 5% for share indices,5% for futures and 2% for currencies.They are also generally
open ended, as in, they have no expiration dates like options, commodities or warrants.
Another thing that makes CFDs stand out is they are available for diverse underlying markets
like the US, UK AND European shares CFDs, sector CFDs like Banks, Real Estate,Oil and Gas,
as well as forex and futures pairs.
[QUOTE=nasir.khan;385763]hello whats your setting for MACD indicater . Thanks.[/QUOTE]
Helloo nasir.khan...any relation with genghis or kublai khan? anyways, you can just use the
standard settings on your platform, which is usually 12,26,9.. You could still tweak the
settings and compare the changes on the MACD indicator to price above...whichever one fits
your style is okay...
[QUOTE=Anne09;418]yeah i know forexgreenland your work speaks for itself.........but can you
tell me why you always summit chats on your maximum post. don't you have anything to
discuss....[/QUOTE]
Hmmm, this sounds like a counterattack from one of the feminine species,not just a welcome
party....Somebody stop me!You want to know why, mami? It is because those chats and charts
mainly represents a reflection of operations in the trading trenches..reflects trading minds
at different levels in which enlightening market themes and principles can be glimpsed and
learnt from..
At the risk of getting my eyes scratched out by our female folks, there are some
observations on the gender aspect to trading.females are less willing to take risk but more
willing to stick to their rules..Alpha male stereotypes tend to do the opposite..too much
machismo, too much ego on the line...brings about stumbling blocks to our trading life..so
if good traders are consistent at abiding to their rules and not taking unnecessary risks,
the ladies should do better in their pyschological makeup to trading. So guys, we got a lot
to learn from our womenfolk..thanks for your constructive criticism, Anne
" rel="nofollow" target="_blank">http://i82.servimg.com/u/f82/11/82/15/01/theawa13.gif[/img]
[QUOTE]Originally posted by Julieviola:
[QB] I really don't much about the psychology of stock trading but one that got me is the
"having" or the noobs quest for more money. As novice in this field I try to take a lot of
advice from many sectors and other forums similar to this one but my problem is information
overload.
It's so easy for a novice to get overloaded with information that instead of making a head
way in their quest to make more money, they simply sucks and cannot function as they should.
Don't get me wrong but the original thread is something for a novice like me to really put
into consideration.
Thanks for the tip [/QB][/QUOTE]
Hi Julie...thanks for your mail...you are right when you mentioned the ''paralysis by
analysis'' factor that disable the functions of majority of the traders due to information
overload.In pursuit of the quest for profits, most of us tend to disregard the knowledge,
patience and determination required to come out on top in any field of endeavour,instead we
only focus on money..''how much can I make daily?''...I deserve a 100 pips dropping like
clockwork each and every day''... Stay with me here,viola, there's a madness to the method
and method to the madness..Its called the LAW OF DETACHMENT...thanks once again for your
comments, julieviola
Hey forexgreenland, we have missed you at NIGERIA BEST FORUM . NBF.
Since its been a while, we thought we would send you a personal invitation to return.
Hello, forexgreenland!
We've noticed that you've not been active on ForexForums.org for quite some time now, and we
miss you!
Could we not tempt you back?
Hmmm.....no need to do that,mon amis...am back....just being occupied by lots of projects
lately...so little or no time to post as much as before...
[QUOTE=dollarfinder;1671]It seems like one of the most common questions we get, especially
from those new to trading, is something along the lines of "Which is better? Technical
analysis or fundamental analysis?" There's no perfect answer to that question, just like
there is no perfect technical system, nor perfect fundamental criteria. In fact, the best
answer may simply be "It depends on what works for your style of trading".
So if you choose one strategy, then work for it.. But if you want to use the two, then
that's better.. Combination of these two methods could give you too much advantage.[/QUOTE]
Nice observation, dollarfinder...I concur with your findings...There's no 100% perfect
system, whether technical analysis or fundamental news analysis..What matters most is proper
RISK MANAGEMENT in trading.. How long can your equity last if your system is on a losing
streak? How far can you go when the market goes schizophrenic over a period? 5 trades? 20
trades? 50 or a 100 trades before margin call...Hot situation makes a nice one, whatchu
gonna do...call 911?That is what majority of the professional traders focus on when
trading...Even in cooking, recipes of dishes are added proportionally, instead of putting
the ingredients all at the same time.. That proportional blending eventually brings about a
nice savoury dish....yumm yumm..Anyone hungry?
Frank Says:
Hello, thank you for this Posting. I am reading this Blog very often and i like to read this
blog. I hope you writing alot in this Blog. What you have to doo is to write more in this
Blog about everything.
[QUOTE=jehunter;12513]Hi Mistikal,
You responded to my message on 01/06/09 regarding the two e-books listed below: I have not
received them as-of-yet. Please send them to me at your earliest convience, I am anxious to
learn how to trade in this new year. My PM address is...jehunter@cox.net
1 The Art Of Creativity
2 Fibonacci Trading - How To Master The Time and Price Advantage
Thank You and keep up the good work! You're the best.:)[/QUOTE]
I know, I know, jehunter....better to be the hunter than to be the hunted,especially of
pips..lol...wud send it as soon as possible,okay...
[QUOTE=hayabusat;3828635]Hi Stalion,
I saw some -ve and some +ve comments on your thread. I don't really care about those -ve
comments. It's not fair to judge boobs by its cover ;). Personally am impressed with the
strategy you are using and I would like to learn it from you. Can you please tell how I can
join you during trading. Thanks.[/QUOTE]
Darn hayabusat,easy on the boobs fixation,okay...or you want to change the title of ''Sex in
the City'' to Sex in the Trading?not that healthy for clarity of mind..I must say.. Trading
mostly commences during the London Session where you have less range activity and more
stable volatility.
[10:02:58] Stalion : sell gbpusd @ 13920...1st target @ 13840...2nd target @ 13765...50 pip
sl.
" rel="nofollow" target="_blank">http://i82.servimg.com/u/f82/11/82/15/01/theawa11.gif[/img]
Helloo Fellow Traders,
Hope you all had a wonderfull weekend...
For some time, I've been on meditative break in order to step back from the picture and look
ahead...What I saw wasnt certain...
http://www.telegraph.co.uk/news/worldnews/northamerica/usa/barackobama/4953523/Barack-Obama-too tired-to-give-properwelcome-to-Gordon-Brown.html
http://www.telegraph.co.uk/news/newstopics/politics/gordon-brown/4934294/Barack-Obama-and-Gordon-Brown-an-uncertain-rapport.html
http://www.telegraph.co.uk/news/newstopics/politics/4942005/Barack-Obama-thanks-Gordon-Brown-for-very-productive-visit-to-Washington.html
http://www.telegraph.co.uk/news/worldnews/northamerica/usa/barackobama/4885887/Will-Barack-Obama-end-Britains-special-relationship-with-America.html
http://www.telegraph.co.uk/news/newstopics/politics/gordon-brown/4934808/Gordon-Brown-increasingly-isolated-over-refusal-to-apologise-for-recession.html
How will these events affect the GBPUSD and its continous downward price movement? hOW DOES
THAT AFFECT THE GLOBAL RECESSIONARY ECONOMIES? Only time will tell...
We need to understand that going into political history would only dig us into deeper
hole..subtle fencing matches doesnt do humanity any good, especially most in the Balkans,
Isreal, Palestinians, China,Japan, Iran,Iraq,Germany, France,Russia,Sudan,
Somalia,Zimbabwe,and so on..Great statesmen put the interest of humanity in the
forefront...To whose
gain if we blow up the world in this generation in spite of love and peace?
When money, as an exchange of value, is allowed to be economic leakages via negative
destructive means, it brings about destructive results...but when it is harnessed for
constructive means and purposes, it brings constructive and positive results.
The global recession can be overcome by improving and improvisation via constructive
means..That might reduce the distortion and inversion of the human race...
For the benefit of members that might not yet understand the way I trade, I invite you to log into the 10,000 virtual equity account and see how and why trades are taken.. No more than 2% risk is taken..
Acc No 100909
Password mn4picn (ALPARI US)...www.alpari-us.com
Please download the mt4 software from the site , then log in to view the forex trades..
[09:12:31 09/03/09] blue : wht do u expect today
[09:19:27 09/03/09] blue : Stalion im ready for ur signals today
[09:19:45 09/03/09] Stalion : hi blue, the general trend in the market is still bearish...so we wait for a good sell entry
[09:20:23 09/03/09] blue : ok
[09:20:28 09/03/09] blue : i hope so
[09:24:26 09/03/09] Stalion : sell stop on gbpusd @ 13990...1st target @ 13945...2nd target @ 13920...
[09:24:32 09/03/09] Stalion : 40 pips stop loss
[09:25:11 09/03/09] blue : ok
[09:25:41 09/03/09] blue : should i enter from here its on 1.4010 now or wait to strike 1.3990
[09:26:59 09/03/09] Stalion : wait till 13990,blue
[09:27:18 09/03/09] blue : ok
[09:30:33 09/03/09] Stalion : hope you now understand how to enter the sell and buy stops,blue?
[09:30:49 09/03/09] Stalion : please ask questions if you are not clear..
[09:31:11 09/03/09] blue : ya i understand wht u mean
[09:31:23 09/03/09] blue : im clear now i am waiting for 1.3990
[09:37:25 09/03/09] blue : still playing arround our figure
[09:39:32 09/03/09] Stalion : cool
[09:39:48 09/03/09] blue : im waiting
[09:41:14 09/03/09] Stalion : okay.....sell entry hit @ 13990
[09:41:37 09/03/09] blue : ya i got
[09:42:05 09/03/09] blue : wht should b dont now
[09:43:00 09/03/09] blue : u plz guide me ok
[09:43:07 09/03/09] Stalion : how many minilots did you enter?
[09:43:24 09/03/09] blue : 2 mini lots
[09:44:48 09/03/09] Stalion : okay....on how much equity?
[09:45:07 09/03/09] blue : i have 3000$
[09:47:22 09/03/09] Stalion : 2% of 3,000 is 60...
[09:47:24 09/03/09] blue : a little account
[09:47:31 09/03/09] blue : so
[09:47:42 09/03/09] blue : wht should i do
[09:50:06 09/03/09] Stalion : by risking no more than 2% on a single trade, you can be be able to sustain 50 losses in a row if you are on a losing streak..I would suggest you keep your minilots to just 1 for now...by trading 2 minilots at a 40 pip stop loss, you risk more than 2% of your capital..
[09:50:48 09/03/09] blue : ok next time i wil enter with 1 lots
[09:51:16 09/03/09] Stalion : instead of losing just 40 to 60 dollar maximum, you lost 80 dollars wen using 2 minilots
[09:51:18 09/03/09] blue : i will cut 1 lot on 1st target
[09:52:12 09/03/09] Stalion : okay...
[09:53:01 09/03/09] blue : and wht should i do with second lot after closing 1 lot on 1st target
[09:53:14 09/03/09] Stalion : cut 1 minilot when 20 pips ahead...more safer..
[09:53:25 09/03/09] blue : ok
[09:53:38 09/03/09] blue : and second one
[09:56:16 09/03/09] Stalion : you would have 1 minilot remaining,right? so cut 0.5 minilot on 1st target
[09:56:28 09/03/09] Stalion : another 0.5 minilot on 2nd target
[09:56:57 09/03/09] blue : ok i wil
[09:57:05 09/03/09] blue : thx for ur co operation
[09:59:06 09/03/09] blue : is the mkt safe in sell today?
[10:03:35 09/03/09] Stalion : yep...that is more about strategy than risk management,blue
[10:03:49 09/03/09] blue : hmm nice thx
[10:04:48 09/03/09] Stalion : risk management is what keeps you safe and sane, blue....
[10:04:57 09/03/09] blue : ya
[10:07:16 09/03/09] blue : wht do u think how much i can earn in my account in month
[10:11:28 09/03/09] Stalion : have you taken off half profits first?
[10:12:29 09/03/09] blue : thx dear i got 68$ in tota
[10:12:32 09/03/09] blue : total
[10:12:33 09/03/09] Stalion : then shift your stop loss down to entry point..from 1.4030 sl to 1.3990 entry?
[10:12:53 09/03/09] Stalion : 1st target hit
" rel="nofollow" target="_blank">http://i82.servimg.com/u/f82/11/82/15/01/theawa10.gif[/img]
[10:13:09 09/03/09] blue : i cut 1 lot in 1.3965 and second lot on 1st target
[10:14:12 09/03/09] blue : thx alot dear i hope for more trades today
[10:18:12 09/03/09] Stalion : cool....
[10:18:47 09/03/09] Stalion : 68 dollars is okay for today,blue...
[10:19:13 09/03/09] Stalion : lets not get greedy and give back all those profits...
[10:19:55 09/03/09] blue : ok as u say
[10:20:07 09/03/09] blue : i agree with u
[10:25:27 09/03/09] Stalion : cool
[10:26:14 09/03/09] Stalion : 1 strike win and we are out
[10:27:24 09/03/09] blue : ya nice
[11:22:51 09/03/09] blue : Stalion mkt is still on selling
[11:58:44 09/03/09] Stalion : yeah....downtrend sustained, blue
[11:58:51 09/03/09] Stalion : helloo joksa
[12:01:14 09/03/09] joksa : hi stalion, it is my first day
[12:03:01 09/03/09] Stalion : cool...
[12:03:11 09/03/09] Stalion : howz trading?
[12:05:43 09/03/09] joksa : i don't have to much success
[12:07:19 09/03/09] Stalion : why? how come?
[12:09:14 09/03/09] joksa : i tried to much forex system, but no one was good for my acc.
[12:09:46 09/03/09] Stalion : what do you think is blocking you from success?
[12:11:03 09/03/09] joksa : i am not disciplined
[12:14:50 09/03/09] shandy : hi guys, finally worked out how to login!
[12:15:04 09/03/09] joksa : if i understand, in this chatroom...there is only alert?
[12:15:42 09/03/09] Stalion : hmmmm.....nice to know discipline comes with practise
[12:16:22 09/03/09] shandy : how was the morning session?
[12:20:17 09/03/09] Stalion : welcome, mark....
[12:20:48 09/03/09] Stalion : 70 pips was made on our sell stop
[12:20:53 09/03/09] shandy : very nice
[14:30:12 09/03/09] gjorge : i would like to see how they trade the london martket
So for today, teusday, we could see a 1-2-3 bottom on the chart,and we put a buy stop on GBPUSD @ 1.3850..1st target @ 1.3877.. 2nd target @ 1.3955..50 pips stop loss
Helloo Fellow Traders,
Hope you all had a wonderfull weekend...
For some time, I've been on meditative break in order to step back from the picture and look
ahead...What I saw wasnt certain...
http://www.telegraph.co.uk/news/worldnews/northamerica/usa/barackobama/4953523/Barack-Obama-too tired-to-give-proper-welcome-to-Gordon-Brown.html
http://www.telegraph.co.uk/news/newstopics/politics/gordon-brown/4934294/Barack-Obama-and-Gordon-Brown-an-uncertain-rapport.html
http://www.telegraph.co.uk/news/newstopics/politics/4942005/Barack-Obama-thanks-Gordon-Brown-for-very-productive-visit-to-Washington.html
http://www.telegraph.co.uk/news/worldnews/northamerica/usa/barackobama/4885887/Will-Barack-Obama-end-Britains-special-relationship-with-America.html
http://www.telegraph.co.uk/news/newstopics/politics/gordon-brown/4934808/Gordon-Brown-increasingly-isolated-over-refusal-to-apologise-for-recession.html
How will these events affect the GBPUSD and its continous downward price movement? hOW DOES THAT AFFECT THE GLOBAL RECESSIONARY ECONOMIES? Only time will tell...
We need to understand that going into political history would only dig us into deeper
hole..subtle fencing matches doesnt do humanity any good, especially most in the Balkans,
Isreal, Palestinians, China,Japan, Iran,Iraq,Germany, France,Russia,Sudan,
Somalia,Zimbabwe,and so on..Great statesmen put the interest of humanity in the
forefront...To whose
gain if we blow up the world in this generation in spite of love and peace?
When money, as an exchange of value, is allowed to be economic leakages via negative
destructive means, it brings about destructive results...but when it is harnessed for
constructive means and purposes, it brings constructive and positive results.
The global recession can be overcome by improving and improvisation via constructive
means..That might reduce the distortion and inversion of the human race...
[QUOTE]Quote from Reaver:
Greenland-
If bull**** was a bra, you'd be top heavy. S******* piece of s***. [/QUOTE]Nice of you
to drop in,Reefer..I mean,Beaver..didnt know tradeviper was calling his
bullyboys over to this thread..maybe you could do us a good turn by trying to write just one
verse without a curse..your comment makes an xrated movie sound like a sunday school picnic
Avishek Roy (Harry Ainlay Senior High) wrote:
hi im a new trader, and i read ur stuff...great job! i was wondering if i could get in on
this chat that you guys do...and what time do u trade? i was told the london open was a good
time to start
Thanks for your mail,Avishek..nice to hear you guys are enjoying my thread on
Facebook..London Session is usually the time we trade daily..The chat is subscription based
where active and serious traders earn and learn at the same time..
" target="_blank">http://i62.servimg.com/u/f62/11/82/15/01/reaver10.gif[/IMG]
how do i get ur chart pattern
[QUOTE=kento;12268]I saw ur posts so i am interested in the chart how do i get it. Secondly
i am new to forex but God in his infinite mercy directed me here and i know this may be the
miracle i need.[/QUOTE]
Hi Kento,we give All glory to God Almighty for everything as we are just His instruments.
But I'm not sure I understand what you meant by getting 'chart pattern', since these charts
posted are based on daily trades during market sessions. If you meant how you can get the
system, it is not a mechanical system where you send to an email box or something..It is
more of a simple discretionary system that is thoroughly explained from mentor to
student(s)..Seasoned traders, the liberal ones at that, might just go through charts and
'get it'..but the risk is that the edge tend to get faded out in time, if too much details
are written out on public forums.So there must be a balance..
You also have to understand that the miracle you need is inside of YOU..You have to be AWARE
that the FORCE is in you..not outside of you..My mission is not just about forex training,
forex signals and forex managed account services..but it is more of helping others discover
and being AWARE of our inherent possibilities. I'm aware of myself here and trying to let
others know that they can still do better than me if they have the proper mindset and
dedication to getting to the next level in trading or whatever they set their minds to. Rome
wasnt built in a day..
[QUOTE]Quote from oraclewizard77:
forexgreenland,
Do you actually watch the trade all the time until you are out?
Do you put in hard stops and targets? I would think if the broker sees the stop especially
on large account size, they will just spike the market down to take out your stop.
[/QUOTE]Hi oraclewizard, it is nice to see that Elite trader have at least one positive
comment on
this thread..from your question, it seems you are averse to watching trades until you are
out..It all depends on your style of trading and the times we are in..For intraday and
momentum trading, it pays to watch your trades due to incoming high impact news that might
affect market dynamics..
You can still put in your stops and targets, go play golf, and be back to see your equity
increase by some good percentage.But you have to get to a particular SKILL LEVEL in order to
achieve that.Markets tend to be on a range/accumulation phase 80% of the time, while
breakouts are usually seen 20% of the time. This type of market tends to keep newbies out
because they come looking for short term quick buck. By the time the rookie traders come to
the market, the move has probably expired.This type of market is for the PATIENT trader that
knows what is going on and can wait out long periods of boredom like a panther measuring its
prey.
Do you think top traders like George Soros, Paul Rotter,etc, get bothered about the time it
takes to haul in substantial profits from the markets? It all comes at a price, in which,
80% of traders are not ready and willing to pay, and thats a major reason they fail.''aww,
cant wake up in the early morning for good trades'',..''need set and forget system while am
in tahiti sipping margaritas and pina coladas'',my blood pressure's too high to be running
around like a chicken without a head'', ''..etc..
Swing trading and position trading is more better for those traders that cant find the
patience to watch their trades for profitable returns.
" target="_blank">http://i62.servimg.com/u/f62/11/82/15/01/reaver11.gif[/IMG]
Depending on your account size, stops are normally fixed at major support and resistance
areas..some traders use the Average True Range(ATR) to determine their stops, which is also
part of good risk management.
There are honest brokers and there are dishonest brokers..the dishonest bucketshops are the
ones giving the trading industry a bad name in which they aggressively advertise to the
public..Its not limited to forex alone though...we got bad eggs in the stock markets too,
where Nightmare On Wall Street is having its sequel..online..real estate..toxic bonds in the
Phantom of Solace,..even the few bad eggs in Nigeria,419, tend to spoil the good names of
majority of the hardworking populace who are trying to make a honest living..
[URL=http://finance.yahoo.com/news/Job-losses-stack-up-as-apf-14011483.html>
So its a worldwide phenomenon..until the bucketshops, Wall Street, fake HYIPs,fraudsters
come to realize that their negative actions tend to affect ALL humanity in one way or the
other, we would still be having all sorts of minor and major recessions..Their get quick
rich materialistic tendencies, at all costs, would also get back to them in the long run
since we are all one..
[url=http://www.thestreet.com/_yahoo/newsanalysis/banking/10456887.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA[/URL]
P.S..You might consider ECNs....they are likely to be more honest and rarely consider
spiking the markets to their 'best interests' since they make their money mainly from spreads/commissions.
[QUOTE=jehunter;12192]Thank You. I am definately interested in investing in myself
positively and creatively for the new year. I would like nothing better than to get off to
a good start for the new year. See my pm mail address below to send me the 1 The Art Of
Creativity & 2 Fibonacci Trading - How To Master The Time and Price Advantage.
PM email address
[email]jehunter@cox.net[/email]
:)Thank you again.[/QUOTE]
cool....please check your email box in some few hours,jehunter..And a tip..maybe you could consider WRITING your goals out for the year 2009..10 to 15 goals are okay..might be daily, weekly or monthly..just write it out and go through them regularly so as to keep focused,okay..Brian Tracy taught that strategy.
http://i42.servimg.com/u/f42/11/82/15/01/tadada10.gif">http://i42.servimg.com/u/f42/11/82/15/01/tadada10.gif" />
[QUOTE=king_diamond;3174325]apa menatang dia ni merepek ni.....[/B][/QUOTE]
shuo.. if i yarn wafi for you,you go ja..abi no be to gazu the kuza naim be the koko..google
am whether you go understand wetin me yarn
[QUOTE=Strategist;1565]What the name of this system? Is it really good like I see on this
graph?[/QUOTE]
Yes it is,Strategist...The name is the CHART PATTERN RECOGNITION AND PRICE PROJECTION STRATEGY. I dont mean to brag, but its one of the best techniques any dedicated trader could use to be profitable in the markets..I get invited to speak on international traders conferences on this strategy..at least,thats shows how good it is. Though it is not 100% perfect neither is it the ''Holy Grail'',you can be rest assured that your trading performance would get the required EDGE to beat the markets,especially in the long term.
[QUOTE]Quote from TradeViper:
[B]forexgreen, very smart to show only 71% positive trade rate, not an outrageous number
like 90%, but not too low. Now if the statement was audited and certified by an
internationally known firm, I think it might just matter. By the way, where are Mandel and
Reaver????
[/B][/QUOTE]
http://i42.servimg.com/u/f42/11/82/15/01/tadada11.gif">http://i42.servimg.com/u/f42/11/82/15/01/tadada11.gif" />
Tradeviper,your venom is simply out of this world, you know..seems you really took the time to go through my performance report over the last 3 months of turbulent trading. Actually, I didnt even know it was up to 71%, so you must be a good statistician. You can manipulate the figures but you cant manipulate the graph of the detailed report.Check the graph below the figures again and see if they match.Even if alien extra terrestians fly down with their UFO to audit the report, there would still be doubting Thomases..so I'm not bothered.
Look at Madoff..Are you trying to tell me that 'internationally known firms' didnt audited his reports over a decade before +$50 billion was ripped off? some say Steven Spielberg, who
was one of the 'casualities', might get sued by Madoff for the rights of the pending
Hollywood blockbuster film chronicling the scandal.
I believe in honesty and ethics in my chosen path..Trading is a vocation where many are
called but few are chosen.I've paid my dues and am still paying my dues in this
industry,tradeviper..easy on the hiss,plzzz
By the way, Who are Mandel and Reaver? Sounds like Beavith n Butthead?
[09:30:38 05/01/09] Stalion : helloo fellas
[09:31:09 05/01/09] Stalion : no news worthy item for Monday so we stick to our friday's
short call
[09:34:59 05/01/09] Learning_pips : hi stal
[09:38:18 05/01/09] Learning_pips : its quite funny though in carolyn's book there is a
mention of a gartley pattern which is a complete opp of the 1-2-3 pattern
[09:40:45 05/01/09] Stalion : hmmmm....havent had time to read it myself
[09:42:19 05/01/09] Learning_pips : its chapter 8, two step pattern..she identifies the
1-2-3 pattern/gartley pattern as a continuation pattern..quite interesting..
[09:42:46 05/01/09] blue : hi
[09:42:55 05/01/09] Stalion : gartley pattern on fibonnacci?
[09:43:05 05/01/09] Learning_pips : just goes to show how many ways patterns can be
interpreted by different people
[09:43:16 05/01/09] Stalion : helloo there blue
[09:43:46 05/01/09] Learning_pips : basically fibs have to applied on the pattern to
identify a cluster
[09:45:03 05/01/09] Learning_pips : "The two-step trade setup is a zigzag pattern that
corrects a prior trend"
[09:45:09 05/01/09] Stalion : range/consolidation pattern? can u identify it on a chart?
[09:45:44 05/01/09] blue : Stalion im new here
[09:46:04 05/01/09] Learning_pips : basically the pattern is exactly the same as a 1-2-3
pattern but she says that its a continuation pattern
[09:46:10 05/01/09] Stalion : cool....howz trading, blue?
[09:46:26 05/01/09] blue : Stalion not so gud
[09:47:18 05/01/09] Stalion : meaning d downtrend would continue? can you give us an example
on a live chart?
[09:47:24 05/01/09] Learning_pips : so according to her once we have points 1 and 2, we can
apply fibs to identify a cluster where 3 would be and the price after it reaches 3 would
continue its decline if we take 1-2-3 as a bottom
[09:47:55 05/01/09] Stalion : how do you mean, blue?
[09:48:35 05/01/09] blue : Stalion im bearing a lot of loss for past few months
[09:48:36 05/01/09] Learning_pips : well there are numerous examples n the book, i am trying
to establish it in the live charts..will keep u posted..any insights on today
[09:50:41 05/01/09] blue : Stalionim so tense now a days
[09:50:49 05/01/09] Stalion : whatabout strategy?
[09:51:48 05/01/09] blue : Stalion actually i was just trading by my own mind and short
trade with the stop but mostly i faced my stop hit
[09:52:48 05/01/09] Stalion : as in, what is ur strategy in which you've been using all
those while?
[09:53:21 05/01/09] blue : Stalion actually i just watch chart with 1 hourly candle and its
spread
[09:59:07 05/01/09] Stalion : hey, dats not a strategy ,blue...just a hourly candle and
spread? did you take any training before going live?
[09:59:07 05/01/09] Maurizio77 : morning all - happy new year
[09:59:13 05/01/09] blue : hi im from pak
[10:00:13 05/01/09] blue : Stalion unfortunately im not trained and thts why im so tense
[10:11:47 05/01/09] realjimmy : such a good day!!! you guys win??
[10:13:13 05/01/09] Learning_pips : no jimmy..missed it
[10:17:03 05/01/09] Stalion : blue, in trading, you have to be trained for you are going
against professionals that have been in the game for years and know what they are
doing...its like a novice trying to play in the Champions League..no chance of winning if
you are not aware of the rules of d game
[10:29:49 05/01/09] Stalion : also using different free signals from different sources on ur
live account is only asking to get blown out on margin call...no accountability or
committment from both sides..
[10:34:59 05/01/09] Maurizio77 : reckon we'll be seeing a breakout on eur/jpy soon
[10:40:46 05/01/09] Stalion : for euroyen, we put a sell stop @ 127.49...1st target @
127.25..2nd target @ 127.08...50 pip sl
[10:45:37 05/01/09] effendy40 : hi stalion
[10:49:50 05/01/09] blue : Stalion wht wil be its buying stop
[10:51:22 05/01/09] Stalion : well, for now, no buying stop since we are looking for eurjpy
to go down in the short term...dats why the sell stop
[10:54:14 05/01/09] Learning_pips : stal the eurjpy entry is 1-2-3 if i am not worng?
[10:57:27 05/01/09] Stalion : 1st target hit on eurjpy..take half profits and move stop loss
to entry
[10:58:52 05/01/09] Stalion : the 123 pattern has already been fulfilled with the high at
128.49...
[10:59:23 05/01/09] Stalion : remember different techniques as price moves
dynamically,pips..
[10:59:45 05/01/09] Stalion : 2nd target hit on eurjpy!
http://i42.servimg.com/u/f42/11/82/15/01/tadada12.gif">http://i42.servimg.com/u/f42/11/82/15/01/tadada12.gif" />
[11:00:19 05/01/09] Stalion : 41 pips made in less than 1 hour on a monday morning
[11:00:27 05/01/09] Learning_pips : right..sorry realised that later
[11:02:16 05/01/09] Learning_pips : i just checked, our entry point was at 60% sell window
of the previous swing..nice!
[11:04:55 05/01/09] Stalion : cool...great start to the week...and for the New Year..
[11:11:42 05/01/09] Stalion : dats all for today...tommorrow is another day...41 pips,$41
minilot,$410 standard lot on eurjpy...
Helloo fellow traders, for today Teusday 6th of January,1.00 am, we put a sell stop on GBPUSD @ 1.4635..1st target @ 1.4605..2nd target @ 1.4575..3rd target @ 1.4545...50 pips stop loss..take half profits when +20 pips ahead then shift stop loss to entry point.
[QUOTE=radatats;226580]Can someone please tell me why this pair should reverse its down
trend any time soon?[/QUOTE]
http://www.learncurrencytrading.com/fxforum/attachments/gbp-usd/22654d1230754934-discuss-gbp-usd-dailyfx-analyst-gbpusd-eo2008.jpg">http://www.learncurrencytrading.com/fxforum/attachments/gbp-usd/22654d1230754934-discuss-gbp-usd-dailyfx-analyst-gbpusd-eo2008.jpg" />
Hi radatats, I can see your chart was taken from the GBPUSD daily..The cable have been
staring at its bottomless pit like a deer in front of headlights for months now. Like the
picture suggests, GBPUSD has to break that upper resistance trendline before a reversal can
be said to take place.. And by price closing above the No 2 level of the 123 bottom( where
your 2nd purple arrow was), an uptrend can be said to confirmed in the midterm.MACD positive
divergence to price can also be seen on your chart which foretells a probable bullish run.
But remember, technical analysiswise,the trend is still down and traders are looking to sell
at any good upward correction level. I see no changes..''Buy the dips, Sell the
rallies''..ratatatata..thats just the way it is..
[QUOTE=jehunter;12162]Hello Mystic, I am enjoying your threads and trying hard to understand
it all. I am a realitively new to forex trading and your way of trading fits the style of
trading I would like to master. So again Thank You and keep up the good work.
Since I am a reader of your treads, can you please send me a copy of the e-books listed
below. I would very much appreciate it.
1 The Art Of Creativity
2 Fibonacci Trading - How To Master The Time and Price Advantage[/QUOTE]
Tsk tsk tsk tsk...ur enjoying my threads and still trying hard to understand it all? Nice
paradox, jehunter...believe me, ur not all alone...such is life...lol
If one of your New Year resolutions is to invest in yourself positively and creatively, I'll
be glad to help in that respect, mon ami..Please pm your email address so I can send it to
you,ok..Thanks..
So for today, Friday the 2nd of January 2009, we are looking at GBPUSD 15 minute chart where
TA wise, price is supposed to make a turnaround to the downside..while fundamentally, price
is supposed to go up due to the lower expectations of the US ISM reports coming out 4pm
Nigerian time.. so in less than 10mins from now, news is coming out...To Be Or Not To Be? TA
or FUNDAMENTALS?
we put a sell stop on GBPUSD @ 14515..1ST TARGET @ 14490..2ND TARGET @ 14465..14415...
Also a BUY stop @ 14535..1st target @ 14575..2nd target @ 14515..3rd target @ 14655..50 pip
sl
[QUOTE=needinfo;226277]Dear All,
Just a novice question. I keep hearing/reading the word 'intervene' by apex banks to control their currencies. When BoJ says it would intervene to maintain a strong USD, will there be any impact on EURUSD pair to maintain the correlation?[/QUOTE]
Helloo needinfo,central bank intervention is the buying and selling of currency, foreign or domestic, by central banks in order to influence market conditions or exchange rate movement for fiscal or monetary policy purposes.
Why should the Bank of Japan intervene for a strong dollar? Because it is to their best interests. Japan, as we all know, is an export driven economy and if the Japanese yen is stronger than the dollar, it hurt their exports and consequently their economy. Why import 15000 dollar cars from Japan when you can get it cheaper right there in America? Why import expensive electronics, computers,due to a strong yen, when you can get it cheaper from America itself, or even China or India?
But wait..Japan is also a savings oriented economy, in which, majority of the US international papers or debt are held by it...So the Japanese are not thrilled to watch the value of their investments in the US bond,Treasuries and Capital markets go down the drain as the US dollar weakens..
The USDJPY monthly chart below shows the decline of the currency pair..
http://i72.servimg.com/u/f72/11/82/15/01/dollar10.gif">http://i72.servimg.com/u/f72/11/82/15/01/dollar10.gif" />
Compared to EURUSD(eurodollar), which is on an uptrend,a strong dollar would have a weakening impact on the euro, popularly known in international financial circles, as the ''antidollar''.. Even Trichet, the President of the EU Central Bank(ECB) might likely welcome the gesture of the Japanese with open arms, because a strong dollar would weaken the euro and save them the unsavoury task of slashing interest rates in the nearest future..You could do more research if it affects your personal finance or business objectives, need
info..Did I hear someone say ''Don ichiban''?
http://i72.servimg.com/u/f72/11/82/15/01/eurdol10.gif">http://i72.servimg.com/u/f72/11/82/15/01/eurdol10.gif" />
[QUOTE=mystikal;12103]
[11:53:40 30/12/08] Stalion : no need to be confused....we put a buy stop on gbpusd @
14550...1st target @ 14575..2nd target @ 14615..3rd target @ 14655
[11:53:44 30/12/08] Stalion : sl 50 pip away[/QUOTE]
Let me whisk you away to the forex charts on the DISSECTION OF A TRADE GONE WRONG. Remember the loss was also important though the LESSONS LEARNT from the loss are MORE IMPORTANT.
Now we are going into the reasons why we took a buy stop at that point..
A 123 bottom formation was observed prior to the alert given out, along with an inverted head and shoulder pattern forming at the bottom...Both are reversal pattern telling us that price is about to reverse from its downtrend to an uptrend.
MACD also made a positive convergence to price which was a buy signal..For the our fib fans out there, a la moneyadd, price made a turnaround on the 30% window, instead of the 60% sell window..which is not that unusual given the strong trend downward in price..
So it was more of a matter of TIMING, rather than STRATEGY. We might be right in taking a trade based on what our strategy is telling us, but if the timing is off bat,we take the loss...In this instance, we lost 50 pips yesterday..the market is always right..quite an humbling experience, isnt it?
http://i72.servimg.com/u/f72/11/82/15/01/tanks10.gif">http://i72.servimg.com/u/f72/11/82/15/01/tanks10.gif" />
So for today, wednesday, price finally came around and rocketed past our 3 targets like a valkyrie..technical analysiswise, our strategy was sound but the timing was off...price then compensated us with more than 105 pips..$105 minilot,$1050 standard lot on GBPUSD.
http://i72.servimg.com/u/f72/11/82/15/01/thanks10.gif">http://i72.servimg.com/u/f72/11/82/15/01/thanks10.gif" />
HAPPY NEW YEAR FOLKS and we give thanks to God for seeing us through a bumpy 2008..WELCOME
2009.
[QUOTE=moneyadd;87741]Hello guys,
I wanna say great job my strategy is very much like yours
But actually i don't watch the trades i just put the safe buy/sell STOP orders and targeting
10 pips .
I put my buy stop for up-trend when i get the confirmation of the 1,2,3 pattern at fibo
level 0.0 and only take 10 pips profit
the opposite for the sell but it's the same and i always lay those pips no loss
But after reading all your posts i might consider sitting in front of the screen and make
bigger profits .
My profits are big because i increase the lot size when my analysis gives higher probability
and i lay $200+ a day using it .
best of luck and again great job
but why aren't you drawing your fibo levels on the charts or you don't want it to look complicated ? :blink:[/QUOTE]
Helloo moneyadd, thanks for reading all my posts...trying to make the time to read them myself..lol..fibonacci are great support and resistance levels that can be used in trading to ascertain price movement..but even with the knowledge of 'fibo'' levels, many traders still make losses..prefer the 60% windows which are more simpler and accurate in my personal opinion..remember KISS? Keep it simple,Smarty..so its about applying the right tools for the right markets...not all size fits all in trading..
If you check out our chart below,we used the TRIANGLE PATTERN, more specifically, the SYMMETRICAL TRIANGLE PATTERN. but why is it called a triangle? Because it looks like one..Triangles usually form part way through a strongly trending move and represents a congestive phase in the marketplace. These patterns are important because they are typically followed by sharp increases or declines in price. An established triangle pattern is a valuable signal prior to a relatively predictable price change.
http://i72.servimg.com/u/f72/11/82/15/01/some_m11.gif">http://i72.servimg.com/u/f72/11/82/15/01/some_m11.gif" />
Yesterday, we made more than 200 pips from our symmetrical triangle which was part of our live practical trading.
1.4770-1.4576=0.0194
1.4651-0.0194=1.4457(target point)
Symmetrical triangles,which are lines connecting peaks and troughs tend to converge at the apex which is at the centre of the pattern.When price breaks outside of the pattern, there is a high probability that the price will trend in the direction of the breakout.Once price hit our target for more than 200 pips, it now retraced upwards,. Our buy stop @ 14507 caught the bullish correction for 75 pips..
http://i72.servimg.com/u/f72/11/82/15/01/some_m12.gif">http://i72.servimg.com/u/f72/11/82/15/01/some_m12.gif" />
Price then retraced downward again to our previous short target of 14457, hitting it twice..
http://i72.servimg.com/u/f72/11/82/15/01/some_m13.gif">http://i72.servimg.com/u/f72/11/82/15/01/some_m13.gif" />
Before we knew it, price knocked 3 times and slipped downwards where our sell stop was on hand to take the move...''come to papa''..
http://i72.servimg.com/u/f72/11/82/15/01/some_m15.gif">http://i72.servimg.com/u/f72/11/82/15/01/some_m15.gif" />
So moneyadd, hope you now understand...actually, my clients dont really want to know the process or method in which trading takes place...all they are concerned with is whether we make money at the end of the month,recession or not..thats the primary objective..making money.
[QUOTE=jeffsmith;385444]Can any one here tell why do clients trading this market online face
problems. I have been trading online with AVAFX and facing problems like not receiving proper mails from them on time, downloading problem, customer support is not responding etc.
I have also heard from other persons trading this market online facing the same problems.
After threatening the customer support people they are now responding on time.
But still i have not come to know why online clients face such problems.[/QUOTE]
sorry about that, jeff...try and look for a better and more honest broker...Even if you got the best strategy in the world, the choice of brokers is pertinent for the realization of your trading goals.
[11:53:40 30/12/08] Stalion : no need to be confused....we put a buy stop on gbpusd @
14550...1st target @ 14575..2nd target @ 14615..3rd target @ 14655
[11:53:44 30/12/08] Stalion : sl 50 pip away
[QUOTE=mystikal;12013]
so for wednesday, we put a buy stop pn GBPUSD @ 1.4735...1st target @ 1.4765..sl @ 1.4715...
also a sell stop @ 1.4700..1st target @ 1.4671...2nd target @ 1.4665..50 pips sl[/QUOTE]
http://i72.servimg.com/u/f72/11/82/15/01/christ10.gif">http://i72.servimg.com/u/f72/11/82/15/01/christ10.gif" />
Season's Greetings to everyone,
If you check out our chart above, you could see price moving dynamically from left to
right..we first followed it with our buy stop that yielded 30 pips, and the sell stop that
yielded 35 pips..
The present buy stop @ 14705, 1st target @ 14730, 2nd target @ 14745, sl @ 40 pips away, is
anticipated to yield 40 pips or so..more like chess.
For readers of this thread, I want to say a big thank you for everything...
To show my gratitude, I am giving out 2 e-Books titled
1 The Art Of Creativity
2 Fibonacci Trading - How To Master The Time and Price Advantage
Merry Christmas and a Prosperous New Year, my friends..and may the New Year 2009 bring hope,
joy,health,love,and success to all.
[QUOTE=fx-liono;224308]Good stuff, useful info!
I think what a newbie like me has to do is get together all the relevant fx indicators and
all systems that I can get my hands on. Study them in depth to filter out the very good
from the o.k ones, get some experience under my belt by using them then trade live after.
As of yet I dont know of or understand any systems and rely heavily on forums such as this
one to get hints and tips as to where we're heading, or other than that put my index finger
in my mouth , hold it high above my head and take a punt!!!
Cant be good:confused:[/QUOTE]
Lol,fxlion, at least thats a strategy...but seriously though, we shouldnt depend on just
chance or others to make money in trading...The beauty of the CHART PATTERN RECOGNITION AND
PRICE PROJECTION STRATEGY is that you dont need to cram your screens with all sorts of
indicators because entries and exits are taken DIRECTLY FROM THE CHARTS.
http://i72.servimg.com/u/f72/11/82/15/01/eurusd10.gif">http://i72.servimg.com/u/f72/11/82/15/01/eurusd10.gif" />
[QUOTE=jeffsmith;385343]I have seen most of the charts and read about the news for today. I
have come to the conclusion that the market for today can be down. But some we can see some
stability also. Am i right friend.[/QUOTE]
Yes, you are right, mon ami...Price on the GBPUSD made a high of 14991, which was 8 pips
less than our 1st target of 14999..by placing your stop loss at entry point after +20 pips
ahead, you would have been stopped out at a profitable breakeven of 31 pips or less..Not too bad..
http://i72.servimg.com/u/f72/11/82/15/01/buried10.gif">http://i72.servimg.com/u/f72/11/82/15/01/buried10.gif" />
Stallion, I am having a hard time following your past calls. Where exactly can I find them.
I have a time difference and I'm trying to make proper adjustements prior to trading. You
start calls around 1am my time. Please let me know where on the website I can find an
archive. Also, from reading your posts you suggest to take half profit at 20 pips, then move
other half to break even s/l, if 1st target hit then sell half and so on. Is this correct
and holds true for all your calls? Thank you for the help. I should be up and running on new
year, I see big market swings coming our way.
Thanks for your mail,pips...I thank God for the positive mental attitude displayed in your
comments about the New Year..If we can make profits during the most volatile 3 months in
trading (October to December), then there's good reason to expect better things to come in
the nearest future.
I assume London Session starts 1am your time, depending on where you are in the US. The
archives can be found here:
http://forexgreenland.foruma.biz/forex-technical-analysis-strategies-forum-f3/review-of-strategic-tips-on-forex-signals-in-forex-forum-t381.htm
It would be better to take off half profits when +20 pips, rather than waiting for 1st
target to hit..Time and tide, along with price,waits for no man..
Robert Kiyosaki, of the Rich Dad Poor Dad series,talked about the stock market burst some
ears ago, along with its effects on baby boomers and their Social Security program. Even
though he gave out some suggestions on how to avoid that pitfall by personal development and
education, most people then castigated him as a fraud who just wants to sell his books and
seminars. From what is going on in the global economy and the US, it appears he has been
vindicated.
http://abcnews.go.com/Business/PersonalFinance/story?id=6513517&page=1
Late last year, on one of the popular Nigerian forums, I predicted the Nigerian Stock
index(NSE) have reached its top and suggested readers should cover their positions and
unload their stocks. But as at then, the bulls were in control, stock newsletter and article
writers were fueling the bubble frenzy and screaming ''BUY''..
The young admin of the forum, maybe out of ignorance and emotional bias, reacted by banning
all forex traders off his site. But that didnt stop the stock market bubble to burst and
uneducated investors losing substantial amount on their equity. Those that took the time,
money and energy to understand and educate themselves on market behaviour saved themselves
from the bearish drop and even made profits from the decline.
In essence, as investors,we should strive to invest in ourselves.No one knows it all. Most people made money in the Great Depression of the 1930's..We can too..
Hi Stal,
First of all thanks for pointing me to forexpeacearmy as it is a very good source of forex
information. I have been going through the broker reviews and feel like it has stopped me
from taking a wrong decision. I have managed to shortlist a few which I beleive are honest
as per the reviews.
Your comments or experiences on any of these would be very helpful, especially if u could
point one or two which I can go live with.
1.MB trading
2.Ikon-Royal
3.Tradeviewforex
4.Alpari Uk
Any help and insight would be highly appreciated..
Thanks,
Helloo there...
Well, it would be unseemly if I publicly endorse any of the brokers due to conflict of
interests.So am throwing it out in the open...Anyone that has comments or experiences with
any of these is free to post it here. Thanks once again.
so for wednesday, we put a buy stop pn GBPUSD @ 1.4740...1st target @ 1.4765..sl @ 1.4715...
also a sell stop @ 1.4700..1st target @ 1.4671...2nd target @ 1.4665..50 pips sl
[quote=forexgreenland;24538]
so for friday, we could see a mini 123 bottom formation on GBPUSD15 min chart..so a buy stop
@ 1.5090...1st target @ 1.5165..2nd target @15244..3rd target @ 15315..sl @ 1.5015[/quote]
[quote=Reealjrd;24555]Today being Friday and last day of trading for the week it can be a
mixed day for forex market. This i have been observing in the last few months that Friday
has been some times mixed and some times a black day for forex traders.[/quote]
Yes,though this time, our 75 pips on our 1st target would have offsetted any ''Black
Friday'' losses..
http://i72.servimg.com/u/f72/11/82/15/01/pips10.gif">http://i72.servimg.com/u/f72/11/82/15/01/pips10.gif" />
Helloo folks, We thank God for bringing us into a brand new week...Most would call it the
Christmas Week so I'm wishing all a Merry Christmas and Prosperous New Year ahead.
As we approach Monday, we could see 3 crosses on the GBPUSD 15m chart, the first candle
upturned. That was a region of indecision that paused price advance to the upside.To be or
Not To Be?
MACD is giving us positive divergence to price, which is more or less, a green light.
We put a buy stop @ 1.4960..1st target @ 1.4999..2nd target @ 1.5049..3rd target @ 1.5125...
http://i72.servimg.com/u/f72/11/82/15/01/pips110.gif">http://i72.servimg.com/u/f72/11/82/15/01/pips110.gif" />
[quote=fasi26;2953]hi Stallion,pls tell me wht is trailing stop basically n hw n when to use
it .and i noticed dat u mostly hav trade in Gbp/usd.... dnt u hav trades in eur/usd[/quote]
Helloo fasi, you could check out the userguide on any mt4 platform..Here's an excerpt:
''Stop Loss is intended for reducing of losses where the symbol price moves in an
unprofitable direction. If the position becomes profitable, Stop Loss can be manually
shifted to a break-even level. To automate this process, Trailing Stop was created. This
tool is especially useful when price changes strongly in the same direction or when it is
impossible to watch the market continuously for some reason.
Trailing Stop is always attached to an open position and works in client terminal, not at
the server like Stop Loss, for example. To set the trailing stop, one has to execute the
open position context menu command of the same name in the "Terminal" window. Then one has
to select the desirable value of distance between the Stop Loss level and the current price
in the list opened. Only one trailing stop can be set for each open position.
After the above actions have been performed, at incoming of new quotes, the terminal checks
whether the open position is profitable. As soon as profit in points becomes equal to or
higher than the specified level, command to place the Stop Loss order will be given
automatically. The order level is set at the specified distance from the current price.
Further, if price changes in the more profitable direction, trailing stop will make the Stop
Loss level follow the price automatically, but if profitability of the position falls, the
order will not be modified anymore. Thus, the profit of the trade position is fixed
automatically. After each automatic Stop Loss order modification, a record will be made in
the terminal journal.''
Trailing stop is also used when your 1st target is hit and price is still going your way, up
or down..It enables you to take the maximum outreach in price movement before any major
retracement/correction. Depending on the daily range and volatility of the currency pair
that you are trading, a 15 to 35 pip trailing stop would be in order.
EURUSD has a 2 pip spread..GBPUSD has a 3 pip spread and GBPJPY has like 7 to 9 pip
spread...cable is like euro on steroids, which is more stable than pound-yen. That is where
we look for balance, the median..
Due to popular demand, a la fasi, we put a buy stop on EURUSD @ 13945..1st target @
14015...2nd target @ 14085...3rd target @ 14155...50 pip sl for both..
Yea, I know, most seasoned traders might say the general trend is down..why buy? well, in
trading, you can make money both by going with the trend, and going against the prevailing
trend..if you know what you are doing. Top football strikers learn score goals with both
feet, even under pressure...so only time will tell if it would measure..to find the buried
treasure..
http://i72.servimg.com/u/f72/11/82/15/01/pips210.gif">http://i72.servimg.com/u/f72/11/82/15/01/pips210.gif" />
[QUOTE=mystikal;11850]
So for today, wednesday, we put a Sell stop on gbpusd @ 15575...1st target @ 15545...2nd
target @ 15505...3rd target @ 15430...50 pip sl.....remember to take half profits when +20
pips ahead, then shift sl to entry level..[/QUOTE]
[QUOTE=sam111;11874]In yesterdays market there were some clear indications that it will
remain down for few hours and give bounce back but not too much.[/QUOTE]
http://i72.servimg.com/u/f72/11/82/15/01/exhibi10.gif">http://i72.servimg.com/u/f72/11/82/15/01/exhibi10.gif" />
Quite right,sam...If you noticed on the chart, you could see the 1-2-3 bottom below and the
head and shoulders pattern above...They are both reversal chart patterns,telling us price
has a high probability of reversing direction from its prevailing trend..The 50 pip stop
loss was at the left shoulder, and before we know it, 200 more pips, after 3rd target, was
liberated..
[QUOTE=jeffsmith;919117]Friends this market says that always travel in a running train.
Means trade the movements in the market you will definitely make profits. But with patience
don't hurry.[/QUOTE]
Patience is a virtue,especially in the markets,right, jeff?
http://i72.servimg.com/u/f72/11/82/15/01/exhibi11.gif">http://i72.servimg.com/u/f72/11/82/15/01/exhibi11.gif" />
[QUOTE=WiseTx;3024187]Dear @AiRiCk;
What is cool? :)
am I missing something? :-?
1)It's not an EA
2)It's not even a System.
3)It does not show or teach some strategies.
4)Long chat conversations does not mean anything for us.
5)He is reviewing his own business. lol!! :D
Free Advertisement! ~X([/QUOTE]
I been with these skills, crystal spills, hot bills, in Brazils..about African Black
Dreams..makes it hard to figure me..some traders be tickle me..like Fidel Castro..undercover
Dannie Brasco..sound like MACDs, the prayer mantis..so get a grip on the whip..playerhaters
getaway or my pen would spray..scribble off till I empty..dont tempt me..only to say I thank
thee..its all about the benjies..
@ Wise?TX
1- Would you give control of your live account to an EA? Would you board a flight across the
Atlantic with just robots to navigate and NO human pilots?
http://i72.servimg.com/u/f72/11/82/15/01/exhibi12.gif">http://i72.servimg.com/u/f72/11/82/15/01/exhibi12.gif" />
2- Google 'chart pattern recognition and price projection strategy' and see whether it is a
system or not, mon ami..THE CHART PATTERN RECOGNITION AND PRICE PROJECTION STRATEGY tells
us, to a considerable extent, where price is going and how far it might get there..
If it is not a system, how come you see these charts showing more profits than losses for
months now? Is it possible to make consistent profits WITHOUT, not just a strategy but a
SOUND STRATEGY? Or did I go and meet brokers and tell them ''hey, buddies, please fix some
green dotted entry lines and red dotted stop loss lines for the benefit of our bronco billy
cowboy"?
3- I think you need some glasses,Man...or maybe just remove the negativity and focus on this
thread with clarity of mind..1-2-3 bottoms,Head and Shoulder patterns, 60% BUY/SELL
WINDOWS,REACTION SWING, REVERSAL DATES,TRIANGLES, TREND LINES, MACD DIVERGENCES,ETC, are
shown and demonstrated here...Man, you need to stop popping too much Valium pills, wake up
and smell the roses.
4- Transcripts of live forex trading conversations are archived on forexgreenland, as a
source of practical lessons to students that are ready and willing to learn. Last time I
checked, I guess it was a free world. Meaning is relative, according to individual
perception and value, my friend.
5- Trading is a business and should be treated as such..Ever read the Parable Of the Talents
in the Bible? Please do.. Though this thread is about REVIEWS OF STRATEGIC TIPS,no one is
under any obligation to give live forex alerts as PREVIEWS. It is just to demonstrate the
effectiveness of the CHART PATTERN RECOGNITION AND PRICE PROJECTION STRATEGY.
Astonishingly, I bought John Crane's book some years ago and gained much from it..I didnt go
around thinking why he was promoting his business through his website or why should he be
offering his commodities services to traders..What I'm concerned with is''VALUE''..and the
results are clear to see..Dont be like that man in winter, next to his stove,telling it to
give him some heat...The stove said '''Wood''...The man insisted on getting heat first
before piling woods.Who's deceiving who? As you breathe in, you also breathe out..thats how
life is..
Warren Buffett, one of the smartest and most successful businessmen of our time, was
recently asked what he thought was the best investment anyone could make in these so called
difficult times.
His answer was fast and simple ...
"The most important investment you can make is in yourself."
That could very well be the best advice Mr. Buffett has ever offered. If ever there was a
time to take control of your future, it's now.
Like you said,maybe you are really missing something,tx..something spongy and mushy..If your
IQ gets below 50, SELL.. just kidding
[QUOTE=sagar.best;1082]hey wow hw much time does it took to writ??
whatever i read some how n was good keep going......[/QUOTE]
Hi sagar, thanks for your mail.. it actually takes around 2 hours to draw and write the
charts while trading is on..for me, the thrill and challenge of multitasking helps in my
trading environment which brings a fulfilling sense of being. Posting live trades in front of a global audience, where the mainstream perception tends to be ''a trader is as good as his last trade'', is all good..for true traders makes you feel and do good. We should all strive to seek balance in all things we do.
http://i72.servimg.com/u/f72/11/82/15/01/exhibi14.gif">http://i72.servimg.com/u/f72/11/82/15/01/exhibi14.gif" />
so for friday, we could see a mini 123 bottom formation on GBPUSD15 min chart..so a buy stop
@ 1.5090...1st target @ 1.5165..2nd target @ 15244..3rd target @ 15315..sl @ 1.5015
Helloo folks, price on the GBPUSD gave us some clues, technical analysis wise,on its 300 pip
move by the 1-2-3 bottom, which foretold a bullish move..coupled with the fundamental news
that the US was cutting interest rates..and voila...yumm yumm...
[QUOTE=theroguetrader;602818]" Dont step in front of a moving train " ...:idea:[/QUOTE]
http://www.trade2win.com/boards/attachment.php?attachmentid=44704&d=1229468777
Nice one, roguetrader....but please can you give more explanation on your chart?
So for today, wednesday, we put a Sell stop on gbpusd @ 15575...1st target @ 15545...2nd
target @ 15505...3rd target @ 15430...50 pip sl.....remember to take half profits when +20
pips ahead, then shift sl to entry level..
[21:54:53 14/12/08] Stalion : So for today Sunday the 14th, we put a sell stop on GBPUSD @
1.4946...1st target @ 1.4923..2nd target @ 1.4905..3rd target @ 1.4884...
[22:01:53 14/12/08] Stalion : also as a hedge, we put a buy stop on GBPUSD @ 1.5005..1st
target @ 1.5035...2nd target @ 1.5065...3rd target @ 1.5095..both with 50 pip stop loss away
[08:39:33 15/12/08] fasi26 : thnx stalion but got it late
[08:41:47 15/12/08] Stalion : no probs, mon ami
[08:42:08 15/12/08] Stalion : helloo everyone
[08:43:18 15/12/08] fasi26 : oh gud to c u how ru
[08:43:50 15/12/08] Stalion : price hit our buy stop @1.5005 this morning, and went straight
to our 2nd target of 1.5065...thats 60 pips in less than 4 hours
http://i72.servimg.com/u/f72/11/82/15/01/gameof11.gif">http://i72.servimg.com/u/f72/11/82/15/01/gameof11.gif" />
[08:45:20 15/12/08] fasi26 : actually when u snt me msg timehere is 2 am n i was sleeping
[08:45:50 15/12/08] fasi26 : wht abt Eur Usd ???
[08:46:08 15/12/08] Stalion : no probs....more opprtunities to come
[08:46:38 15/12/08] fasi26 : yeah
[08:46:52 15/12/08] fasi26 : u cant get all opportunities
[08:47:27 15/12/08] fasi26 : all the time in from of market screen no way yaar
[08:50:23 15/12/08] realjimmy : So happy to c u guys here..
[08:50:33 15/12/08] Stalion : lol....80% of the time, price is on consolidation range....we
get more opportunities on the 20% breakout in price
[08:50:54 15/12/08] Stalion : helloo there, jimmy...
[08:51:13 15/12/08] realjimmy : hello Stalion....
[08:51:23 15/12/08] Stalion : howz everything going?
[08:51:49 15/12/08] realjimmy : nightmare.....
[08:52:28 15/12/08] Stalion : nightmare? I dont understand
[08:53:12 15/12/08] fasi26 : jimmy wht is ur nightmare wuld u share wid us
[08:53:20 15/12/08] realjimmy : market always goes against me....
[08:53:33 15/12/08] Stalion : for eurodollar, we put a sell stop @ 1.3451...1st target @
1.3425..2nd target@ 1.3405...3rd target@ 1.3405..
[08:53:51 15/12/08] fasi26 : no jimmy market never goes against anyone
[08:54:04 15/12/08] fasi26 : person against it
[08:54:27 15/12/08] fasi26 : this is for now Stalion
[08:54:53 15/12/08] realjimmy : i know...that's why i am still in my nightmare...
[08:56:15 15/12/08] realjimmy : hi Stalion, what's about Stop Loss??
[08:59:16 15/12/08] realjimmy : oh my god.. it's unbelievable....going down immediately..
[09:00:49 15/12/08] Stalion : 50 pip sl as usual...for now
http://i72.servimg.com/u/f72/11/82/15/01/fasi10.gif">http://i72.servimg.com/u/f72/11/82/15/01/fasi10.gif" />
[09:01:23 15/12/08] Stalion : dats trading for you, jimmy....very fast nowadays....
[09:02:17 15/12/08] realjimmy : thanks so much...Stalion..
[09:02:25 15/12/08] realjimmy : you are my hero....
[09:02:42 15/12/08] realjimmy : i think i have found the 'light'
[09:02:52 15/12/08] Stalion : hey, jimmy....easy there....God is our hero
[09:03:08 15/12/08] Stalion : To Him We Give All Glory
[09:03:25 15/12/08] realjimmy : Very Happy
[09:03:53 15/12/08] fasi26 : right Stalion
[09:04:16 15/12/08] Stalion : yes.....mon ami...I dont claim to have the so called ''Holy
Grail''....just understanding market bahaviour, dats all..
[09:04:23 15/12/08] fasi26 : jimmy when 1 dooor is closed 2 more doors opens on other side
[09:05:52 15/12/08] Stalion : dat doesnt mean there r no losing trades...dats where risk mgt
comes in...please remember to take half profits when +20 pips ahead and shift sl to entry
[09:07:10 15/12/08] fasi26 : i gottcha Stalion Razz dnt wry
[09:07:31 15/12/08] fxjedi : hi all
[09:07:46 15/12/08] fasi26 : hi fxjedi
[09:09:05 15/12/08] fxjedi : thanks for the sms yesterday night , Stal, I made 60 pips from
it
[09:10:03 15/12/08] Stalion : cool
[09:10:28 15/12/08] Stalion : hope I didnt disturb your sleep?
[09:11:10 15/12/08] fxjedi : what? when dollars are concerned? hell no!
[09:11:16 15/12/08] fxjedi : lol
[09:23:22 15/12/08] fxjedi : 1st target hit on EURUSD
[09:24:48 15/12/08] Stalion : cool
[09:24:51 15/12/08] fasi26 : yea cut 1 lot took half profit
[09:25:03 15/12/08] Stalion : hope fasi took his trade
[09:25:26 15/12/08] fasi26 : i took mona mi
[09:25:53 15/12/08] Stalion : great
[09:27:31 15/12/08] Stalion : GBPUSD looks like its in a range
[09:43:57 15/12/08] fasi26 : stalion u said that if market +20 pps cut it half profit n
amend the sl to sl entry.... but wht abt the other half lot where to hold it how long to
hold it
[09:44:27 15/12/08] Stalion : dont know when, fasi...
[09:45:24 15/12/08] Stalion : the other half lot is held for the 2nd and/or 3rd
target....you still shave off half of that half lot when at 2nd or 3rd target
[09:28:37 16/12/08] Stalion : howz it going, fasi?
[09:33:36 16/12/08] fasi26 : hi
[09:33:41 16/12/08] fasi26 : it's great
[09:34:55 16/12/08] Stalion : yesterday price on the gbpusd went for both our sell and buy
stops, yielding more than 150 pips in the process...eurodollar went down to 1st target b4
shooting up..
[09:35:35 16/12/08] fasi26 : oh nice
[09:41:03 16/12/08] Stalion : for today, we put a sell stop on gbpusd @ 1.5245...1st target
@ 1.5205...2nd target@ 1.5165...3rd target @ 1.5125...50 pip sl
http://i72.servimg.com/u/f72/11/82/15/01/gameof12.gif">http://i72.servimg.com/u/f72/11/82/15/01/gameof12.gif" />
[09:41:15 16/12/08] fxjedi : thanks,Stal
[09:54:45 16/12/08] fasi26 : gbp/usd is close to 1st target
[09:57:04 16/12/08] fasi26 : i cut the half +20pips holding half position
[09:58:05 16/12/08] fasi26 : yeah yeah yh yeah yeh
[10:12:25 16/12/08] fxjedi : do i reenter now,stal, am stopped out on profit
[QUOTE=AiRiCk;3013577]Very cool stuff ! Thanks for it :)[/QUOTE]
cool...airick, price on the cable and other currencies, including stocks moved more than 300
pips on the US Fed rate cut of 0.25 basis points.Here's the chart putting the posterior into
posterity,another unsolved mystery going down in history
http://i72.servimg.com/u/f72/11/82/15/01/gameof13.gif">http://i72.servimg.com/u/f72/11/82/15/01/gameof13.gif" />
http://news.yahoo.com/s/ap/20081216/ap_on_bi_st_ma_re/wall_street
[quote="fasi26"](Please remember to take half profits after you are +20 pips while shifting stop loss to
entry. And 15 to 25 pip trailing stop should be used after 2 nd have hit..)
i dont understand ur words????/////[/quote]
Helloo fasi, lets illustrate ,shall we?
For example, we have a buy stop @ 1.5000, where stop loss was 50 pips away, @ 1.4950...so our buy stop was triggered and price gets to 1.5020 or more..THAT is when you adjust your stop loss level from 1.4950, up to the buy entry level of 1.5000..then taking half profits means closing half your position(s)..if you entered with 1 minilot, you close at 0.5....if 2 minilots, you close at 1 minilot...sequentially...failure to apply this simple risk management technique while trading, is the cause of so many unnecessary losses..
Hope you now understand..
[quote="realjimmy"]Hi Stalion, You've always done nice jobs, and i've always missed your live comment and signal.
I am in Australia, not sure what normal time you would give comment or tell people how to trade.
I think you are fantastic and really want to follow what you have got. Every time when I got up here, you have already disconnected.
Please let me know.. i need your help..>_<.[/quote]
Hi Jimmy...thanks for your mail....howz the famous Down Under?....The Land Of The Antipodes...hope you guys are treating the aboringes well over there..cool..well,am really humbled by your comments, mon ami...London Session is mostly where I'm at...3am EST...
[11:29:04 10/12/08] Stalion : hi fasi
[11:35:42 10/12/08] klho83 : Hi Stal
[11:49:03 10/12/08] fasi26 : stalion????
[11:49:08 10/12/08] Stalion : how was trading yesterday?
[11:51:15 10/12/08] fasi26 : i didnt trade
[11:52:11 10/12/08] Stalion : cool
[11:54:09 10/12/08] fasi26 : bcoz it's hlidays here so i m enjoying 2 days of eid
[11:54:56 10/12/08] Stalion : yesterday price got down to our 1st target on our sell stop, before going back up
[11:56:04 10/12/08] Stalion : but if your buy stop had triggered, you would have been stopped out....and a reentry today would get you to 1st target @ 1.4865 on our buy stop entry
[11:56:16 10/12/08] Stalion: Happy Sallah, fasi
[12:01:30 10/12/08] fasi26 : wht was the impact of obama's speech
[12:04:19 10/12/08] Stalion: didnt know he had a speech....what was it all about, fasi?
[12:05:16 10/12/08] fasi26 : it's about new economic plan of america
[12:05:24 10/12/08] Stalion : hi K
[12:05:36 10/12/08] fasi26 : and he still wana spend more money for the infrastructure of america
[12:09:38 10/12/08] Stalion : YEA...LIKE fdr DURING THE gREAT dEPRESSION OF THE 1930'S
[12:11:09 10/12/08] fasi26 : yes he said that more money can be spend as campared to 1950;s
[12:11:31 10/12/08] fasi26 : and economy will go down more before taking high
[12:11:55 10/12/08] Stalion : President Frank Delano Roosevelt did massive reconstruction to overcome the US Depression
[12:17:58 10/12/08] Stalion : by pumping more money into the system through effective Reconstruction, he emplys more workers...this is like the faceoff BETWEEN EMPLOYMENT AND INFLATION...FINE, TOO MUCH DOLLARS MIGHT BRING INFLATION, BUT LOW UNEMPLOYMENT RATES ENCOURAGES GOOD CONSUMER SENTIMENT, WHICH BRINGS IN HIGHER DEMAND AND PRODUCTIVITY , WHICH TRANSLATES TO
[12:19:34 10/12/08] Stalion : BEATING THE GLOBAL SLUMP...CREDIT, THOUGH LOOKING TO BE MORE REGULATED, WOULD BE MORE ABUNDANT FOR EXPANSION...
[12:46:51 10/12/08] fasi26 : hmmmmm ur right
[13:17:37 10/12/08] Stalion : hi dj
[13:19:44 10/12/08] Stalion : did you get our buy stop?
[13:23:45 10/12/08] djcarlos : yes.. thanks... but I was in the car... and now the 2 targets are hits
[13:24:25 10/12/08] djcarlos : in other trade ....
[13:26:22 10/12/08] Stalion: yep...correct...
[13:27:12 10/12/08] Stalion: hope you are going to be around when we have winning trades, dj....for that offsetts any losses we might have
[13:29:26 10/12/08] djcarlos : yes... I always have my laptop with wi-fi.... but now i dont got it with me
[21:54:53 14/12/08] Stalion : So for today Sunday the 14th, we put a sell stop on GBPUSD @ 1.4946...1st target @ 1.4923..2nd target @ 1.4905..3rd target @ 1.4884...
[22:01:53 14/12/08] Stalion : also as a hedge, we put a buy stop on GBPUSD @ 1.5005..1st target @ 1.5035...2nd target @ 1.5065...3rd target @ 1.5095..both with 50 pip stop loss away
http://i72.servimg.com/u/f72/11/82/15/01/gameof10.gif">http://i72.servimg.com/u/f72/11/82/15/01/gameof10.gif" />
1.5034(A)-1.4815(B)=0.0219
0.6*0.0219=0.01314
0.01314+1.4815=1.4946(60% SELL WINDOW OR SELL ENTRY)
1.4988(C) - 1.4815(B) = 0.01730
0.6*0.01730= 0.01038
1.4988-0.01038= 1.4884(3RD TARGET/60% BUY WINDOW)
GIVE THE PRICE SOME ROOM..LEAVE THE PRICE ALONE; LET THE PRICE ROAM AND TWILL FIND ITS WAY HOME..
[QUOTE=jeffsmith;385152]Friends todays inventories provided by AVAFX are showing the market
is volital.[/QUOTE]
yea, jeff, market have been pretty much volatile since the last half of this year..Nice
observation, though..
[QUOTE]Quote from increasenow:
TO: ForexGreenLand
Great thread!
Questions for you:
1-looks like you are consumed with the GBP/USD...why only this currency?...do you trade
others?
2-do you only trade micro lots or standard size lots ever?I seen you neveer trade even 1
lot...
3-you made $3,000K since you opened the account...do you have a job or other investments you
live off?
4-where do you live and what hours do you trade Forex?
Great trading to you!! [/B][/QUOTE]
Helloo there, increasenow,
from the tone of your comment, you seem to be hiding some heavy sarcascm beneath velvet
gloves, or shall we say , ''cat's paw''? maybe its just a reflection of your inner mental
processes at work...well, I'm in a good mood so I'll humour you for now and give you some
answers..
1- consumed with GBPUSD? What do you think this is, alcoholic consumption frenzy? Trading is a
wide field like medicine,law,or any other profession out there...it pays to specialize in
one or two currencies well and be profitable, than to be jack of all trades and master of
loss..ever heard of comparative advantage? Warren Buffet said something along the line of
diversification are for those that dont really know what they are doing...put your eggs in
few baskets as possible , and watch them like a hawk...so in order words, I trade all
currencies and I specialize on the cable, just like I said on my begining post here.
2 - I manage forex accounts ranging from tens of thousands minimum, to millions of
dollars..That sample detailed report you saw was based on how much return of investment(ROI)
gained monthly from a minimum of 10k. Due to my style of trading, risk and money management
is of top priority in the first objective of preservation of capital.
The second objective of making profits comes next.I want you to understand that in trading,
garbage in, garbage out...right thinking, right product..
Never risk more than 2% to 3% of your capital in any trade...For a 10k account, dont risk
more than 200 dollars..for a 100k account, dont risk more than 2000 dollars, for a $1m
account, dont risk more than 20k in a trade..
So in the context of this sample, why should a professional trader use 1 standard lot on a
10k account, if risk mgt suggest $200(2%) risk on a single trade for that equity ? You have
the potential of losing $2,000 on a trade, which is 20% of the 10k equity, instead of just
$200 or 2%..That 20% keeps you in the game for just 5 times, while the 2% keeps you in the
game for 50 times...Devrim, a forex trader lost 90% of his million dollar account because he
wasnt using stops...learn from the mistakes of others..maybe you should go back and read
this..
http://www.babypips.com/school/drawdown_and_maximum_drawdown.html
The higher your equity, the better capitalized you are...Dont be fooled by adverts telling
you to trade forex for $10 or $100 or claiming you can make gazillions out of a palty amount
...doesnt work that way...from your name,increasenow,dont be greedy,
3- 3k from a 10k account in 3 months amounting to an average of 10 % monthly, is not too bad
in my opinion, considering the last 3 months have been the most volatile and uncertainity
filled period in the markets, with the global economic crises,recession troubles and bad
news transmitted everywhere.. ..
Traditionally, months from October through December, have always been very hectic for
traders...most rarely trade during the period as banks, hedge funds square off positions to
the detriment of the undercapitalized and inexperienced traders.
For the 3 month to a year period, bonds have been below 2%, Treasuries Bills rates have been
slashed to pieces and stock index have been on negative for the last 9 months now..so why
make jest of a 30% return in 3 months, if you are not a court jester?
http://finance.yahoo.com/bonds/composite_bond_rates
http://www.bankrate.com/brm/ratewatch/treasury.asp
For the record, that 10k account is just a SAMPLE of the other currency based accounts that
is being managed, amongst other investments.
4- Where do I live? Though trading is a lonely business, No stalking , please...
[QUOTE=SirLancelot;307456]
Hi Stallion,thanks for the report,am considered taking up your managed account service,if
those profit trades are sustainable in the longterm.i understand the risks of trading so am
not looking for wild returns or whatnot, just something consistent i need.thanks once again
maestro [/QUOTE]
no probs, lancelot...
[09:09:41 08/12/08] Stalion : helloo there everyone
[09:24:35 08/12/08] klho83 : hi Stal
[09:51:36 08/12/08] fasi26 : hi alz
[10:10:02 08/12/08] Stalion : hi fasi
[10:11:18 08/12/08] Stalion : our sunday trade didnt work out as planned, so we put a buy
stop on gbpusd @ 1.5045..1st target @ 1.5105..2nd target @ 1.5165...3rd target @ 1.5225...50
pip sl
[10:15:25 08/12/08] klho83 : OK Thanks!
[10:24:08 08/12/08] fasi26 : hi allz
[10:29:01 08/12/08] fasi26 : shuld v go for EUR/USD sell stop
[10:36:48 08/12/08] fasi26 : helloooooooooooo
[10:42:08 08/12/08] fasi26 : Stalion?????????
[10:46:05 08/12/08] Stalion : hi
[10:47:34 08/12/08] fasi26 : hi sir how ru
[10:48:28 08/12/08] Stalion : am okay
[10:48:31 08/12/08] Stalion : and you?
[10:48:40 08/12/08] fasi26 : same here thnx
[10:49:22 08/12/08] Stalion : we also put a sell stop on gbpusd , as a hedge, @
1.4945....1st target @ 1.4900,2nd target@ 1.4855,3rd target @ 1.4815....50 pip sl away
[10:49:27 08/12/08] fasi26 : eur/usd ?
[10:51:40 08/12/08] fasi26 : hmmmm i entered
[10:51:53 08/12/08] fasi26 : but i m luking for eur.usd any tip
[10:53:05 08/12/08] Stalion : for eurodollar, a sell stop @ 1.2869...1st target @
1.2847...2nd target@ 1.2825....50 pip sl away
[10:53:13 08/12/08] Stalion : hi avak
[10:53:26 08/12/08] fasi26 : hmmm k
[10:54:58 08/12/08] fasi26 : i got 1.4900 ... 1st trgt @ 1.4850
[10:58:50 08/12/08] fasi26 : ?
[10:59:58 08/12/08] fasi26 : did u see eur.usd forum
[11:00:24 08/12/08] Stalion : nope...where?
[11:00:37 08/12/08] fasi26 : dailyfx forum
[11:01:25 08/12/08] Stalion : whats happening there?
[11:08:29 08/12/08] Stalion : hellloooo, fasi....?please wake up....2nd target hit
http://i72.servimg.com/u/f72/11/82/15/01/jiuce210.gif">http://i72.servimg.com/u/f72/11/82/15/01/jiuce210.gif" />
[11:16:50 08/12/08] Stalion : not yet.....
[11:26:32 08/12/08] Stalion : remember to take half profits after +20 pips ahead...
[11:26:39 08/12/08] Stalion : then shift sl to entry
[11:37:52 08/12/08] Avak1988 : hello Stalion
[11:38:27 08/12/08] Avak1988 : I just try to understand what is going on and how do you work
here
sell stop on gbpusd @ 14745...1st target @ 14705..2nd target @ 14665...3rd target@
14625...also as a hedge, we put a buy stop @ 14825...1st target @ 14865...2nd target @
14900...50 pip sl on both..
Please remember to take half profits after you are +20 pips while shifting stop loss to
entry. And 15 to 25 pip trailing stop should be used after 2 nd have hit..
[[QUOTE=ddock222;575460]i dont get the idea you showing about thw system. first, where are
those numbers come from ? i looked at the charts that you attached those numbers (2.0168,
2.0050, 2.0089). sencond, is this same as the 3 ducks system ?[/QUOTE]
Me too,ddock...it has been quite a while since that chart was posted,I must say... those
numbers come from the chart, where we added/subtracted the range of price from its virtual
entry point..second, am not really familiar with the 3 ducks system..so cant say for now..
[QUOTE=t2wfx;590782]Wow nice trade guys![/QUOTE]
yea, t2wfx, we try to get better and better by the day..
[QUOTE=SirLancelot;307456]
Helloo Stallion,after going through your posts am sorely tempted but still a little
doubt,you were telling the college kid about profits,drawdowns and streaks.whatabout
yours?how sure are we that you are profitable with your strategy,at least 10% profitable a
month.? any recent performance reports to back em up?nice work you doing on this
thread[/QUOTE]
Yes Lance, you can get a sample detailed performance report on my strategies as an attached
file below.Just click on it ,okay...This was on a starting balance of $10k as at October
this year, in which the total net profit is $3k plus..relative drawdown of 8.69% over a 3
month period..that should be approximately 10% per month on the average. Not too bad...action speak louder
than words.
[QUOTE=Forexgreenland;218184]
For the short term, a la mahir,we could put a sell stop gbpusd @ 1.4618..1st target @
1.4595..2nd target
@ 1.4560..3rd target @ 1.4525..
For the medium term, we put a sell stop on GBPUSD @ 1.4465..1st target @ 1.4425..2nd target
@ 1.4385...3rd target @ 1.4305...5o pip sl away...Remember to take half profits when +20
pips away,while shifting sl to entry.
http://i72.servimg.com/u/f72/11/82/15/01/cool110.gif">http://i72.servimg.com/u/f72/11/82/15/01/cool110.gif" />
[/QUOTE]
To all the traders in the house, with style and grace...allow me to lace these lyrical
possies in your purses..which price moves, would move down to bearish...the back of the
keyboard is the place where you gonna me..forex questions asking...trades passing..profits
blasting..but I jus cant quit...because some of these brokers need some dose of ethics,
check this..
http://i72.servimg.com/u/f72/11/82/15/01/jiuce10.gif">http://i72.servimg.com/u/f72/11/82/15/01/jiuce10.gif" />
you can put a sell stop on gbpusd @ 1.4680...1st target @ 1.4655..2nd target @ 1.4635...3rd
target @ 1.4540 ..sl 50 pips away...
http://i72.servimg.com/u/f72/11/82/15/01/jiuce110.gif">http://i72.servimg.com/u/f72/11/82/15/01/jiuce110.gif" />
[QUOTE=MB219TR;218147]Dear Madam and Dear Sir,
I would to ask you a question,According to the exchange rates:
what would be the exchange rate £/$ short - term (1month) = ?
what would be the exchange rate £/$ midle - term (6month) = ?
what would be the exchange rate £/$ long - term (12month) = ?
and
what would be the exchange rate £/€ short - term (1month) = ?
what would be the exchange rate £/€ midle - term (6month) = ?
what would be the exchange rate £/€ long - term (12month) = ?
what is your advice might be.
Yours Sincerly,
MAHIR - [/QUOTE]
Dear Mahir,
What are the possibilities of a zero interest rates regime on the global financial terrain
in the 1st month,6th month and a year from now?
What are the possibilities of Crude oil, Gold, NYSE,NASDAQ,FTSE and other commodities in
rallying or declining in value for the 1st month, semi anually and anually?
What are the possibilities of war erupting in another economically vital hotspot/region in a
month, 6 month and a year from now.
What are the possibilities of an economical new world order, arising from the financial
Armageddon, in part, being sponsored by some media, in the short term, medium term and long
term?
Think, Man..
Your question was based on ''would be''... mine was on ''possibilities''...You need to think
of what the market might be in terms of possibilities, not in terms of ''will''.
Life is a paradox, just like the Universe, or the markets,from what Schrodinger deduced in
his atomic theories in the field of Chemistry.
No one knows the exact time when a particular event would take place,ALL the time..That is
the trading paradox..Else trading would have guarantees and the word ''speculation'' might
not exist in its glossary...
[QUOTE=fasi26;217311]If there's going to be a rebound or retracement, fasi, I think its
better we put a buy stop
on cable @ 1.4900, 1st target @ 1.4935..2nd target @ 1.4985..3rd target @ 1.5135...with a
stop loss @ 1.4805...Please check your risk to reward ratio before taking any
trades.[/QUOTE]
thnx buddy i got the 1st target and the all credit goes to you. can we hav a chat on some
other source????????[/QUOTE]
http://i72.servimg.com/u/f72/11/82/15/01/cool10.gif">http://i72.servimg.com/u/f72/11/82/15/01/cool10.gif" />
No probs...just check my contact info, mon ami...
Greeetings, Ladies and Gentlemen,
Due to some minor connectivity glitches for some days now,my contributions to this thread
was delayed..but I thank God for everything...
For the short term, a la mahir,we could put a sell stop gbpusd @ 1.4618..1st target @ 1.4595..2nd target
@ 1.4560..3rd target @ 1.4525..
For the medium term, we put a sell stop on GBPUSD @ 1.4465..1st target @ 1.4425..2nd target
@ 1.4385...3rd target @ 1.4305...5o pip sl away...Remember to take half profits when +20
pips away,while shifting sl to entry.
http://i72.servimg.com/u/f72/11/82/15/01/cool110.gif">http://i72.servimg.com/u/f72/11/82/15/01/cool110.gif" />
"If you want to know your past, look into your present conditions. If you want to know your
future, look into your present actions." ...Chinese Proverb
[quote=mfoste1;170670]I need some advice from some seasoned forex traders...I am a college
student studying finance and I am fairly new to forex trading but i have frequently day
traded some stocks. I opened up a fxcm account 3 days ago funded with $5,000. Today was the
first day that I traded it for about 3 hours. At the end of the 3 hrs I made a profit of
$1,042.25. It doesn't seem like I'm executing my trades very well though, so I'm wondering
if this is just luck or something like that. Is significant profit a sign of good
trading?[/quote]
Hi mfostel,
Its quite encouraging of you to admit you've not been executing your trades very
well..Though some might say its just 'luck to catch a drop', it all depends on you, at the
end of the day..
Significant profits is just a MEASURE of good trading....You still have to create structures
based on your trading plan , in order to know where, when and how you went right or wrong in
your trading activities..
These structures includes your trading strategy, risk management and trader psychology..like
how do you reconcile an 80% gross profit with a 50 % relative drawdown?
How exposed are your trades for that session , in relation to your total equity? How do you
know when you are on a losing streak and how does that affect your successive trading
activities? Those, and more questions you ask yourself, would surely help in making you the
seasoned trader that you are meant to be.
P.S- As a graduate of Finance from the University Of Lagos, I would say you are building a background in news trading..as in, economic analysis and forecasts would be right up your alley..if you are real jiggy with your major.
[08:13:41 01/12/08] agba : Hi Stal
[08:14:34 01/12/08] agba : Is the sell stop at 1.5300 still valid, it has been stopped out
once today?
[10:37:35 01/12/08] Stalion : helloo everyone
[10:37:57 01/12/08] Stalion : yes, agba....it is...if stopped out, you reenter..
[10:38:05 01/12/08] Maximus : Heu Stalion...
[10:39:41 01/12/08] Stalion : 1st and 2nd target already hit for 125 pips..going for 3rd
target
http://i72.servimg.com/u/f72/11/82/15/01/montho11.gif">http://i72.servimg.com/u/f72/11/82/15/01/montho11.gif" />
[10:39:56 01/12/08] Stalion : helloo there, max..
[10:40:03 01/12/08] Stalion : howz ur trading going?
[10:40:39 01/12/08] Maximus : very good i am out at 1.5175, thx...
[10:41:36 01/12/08] agba : DId not reentered waited fr ur response
[10:43:49 01/12/08] Stalion : Here, we tend to nurture traders to become independent after
time..once you get the thick of it, you tend to trade better yourself...in this case, am
sorry you didnt reenter..
[10:43:58 01/12/08] agba : Can I enter now?
[10:44:41 01/12/08] Stalion : not sure...it depends on the risk to reward ratio
[10:45:18 01/12/08] Stalion : our 3rd target is 1.5090..
[10:46:08 01/12/08] Stalion : u can still enter now, with a 50 pip sl..agba...
[10:46:10 01/12/08] agba : I will wait till us session
[10:47:29 01/12/08] agba : ok thanks
[10:47:43 01/12/08] Stalion : though the reward would be approximately the same, at current
market price
[10:48:12 01/12/08] Stalion : but the risk would be double since you got stopped out earlier
[10:48:44 01/12/08] agba : I entered @1.5128
[10:50:21 01/12/08] Stalion : no probs...time will tell..
[10:52:04 01/12/08] Stalion: remember, put a 15 or 20 pip trailing stop on price when you
are +20 pips ahead
[10:52:21 01/12/08] agba : ok
[11:15:57 01/12/08] agba : Thks Stal. Got 38pips
[11:41:17 01/12/08] Stalion : lol!
http://i72.servimg.com/u/f72/11/82/15/01/montho12.gif">http://i72.servimg.com/u/f72/11/82/15/01/montho12.gif" />
[11:42:24 01/12/08] Stalion : price on cable have gone way beyond our 3rd target of
1.5090...for more than 210 pips,$210 minilot,$2100 standard lot
[12:08:50 01/12/08] Stalion : even after subtracting the 50 pip stop loss earlier in the
morning, we are still ahead
[13:33:36 01/12/08] djcarlos : I missed that exelent trade .... Sad
[13:34:07 01/12/08] Stalion : why? it has been out in the open for more than 24 hrs
[13:34:23 01/12/08] djcarlos : I stal.... this falll is going to have retracement???
[18:30:17 01/12/08] djcarlos : Hi, im looking CNN and US it was declared recently in
recetion
[18:30:45 01/12/08] Stalion : recession?
[18:31:37 01/12/08] djcarlos : sorry... yes recession in US... CNN said that is officialy
[18:35:07 01/12/08] djcarlos : about 20 minutes was declarated ... but they sais that the
recesssion start in december 2007
[19:10:07 01/12/08] Stalion : from a sell entry of 1.5300 to a low of 1.4805
[19:10:15 01/12/08] Stalion : almost 500 pips
[19:13:12 01/12/08] djcarlos : yes.... and I missed it.... I want to die .... I looked the
chat at 5:00 am... and the fall start at 6:00 am...
[19:15:52 01/12/08] djcarlos : but now i hope a good retracement
[url=http://news.yahoo.com/s/ap/20081201/ap_on_bi_st_ma_re/wall_street]Stocks fall sharply on consumer spending worries - Yahoo! News>
[QUOTE=fasi26;217025]now wht wuld be the rebound of GBP/USD..............( i m holding the
position sell 153.5 to going on.[/QUOTE]
If there's going to be a rebound or retracement, fasi, I think its better we put a buy stop
on cable @ 1.4900, 1st target @ 1.4935..2nd target @ 1.4985..3rd target @ 1.5135...with a
stop loss @ 1.4805...Please check your risk to reward ratio before taking any trades.
[quote="Learning_pips"]Hi Stal,
Wanted to clarify a point out of the explaination that you gave a couple of days back about
the Reaction Swing and the Projected Reversal Date.
1.When you said about the centre of the cycle, wont we calculate a 60% buy window and be
long on the trade after the Reaction Swing ends and the current Bull run restarts.
2.For applying Mr.Crane's Reversal date projection technique of reverse and forward counts,
what is the most reliable time frame to do so. I mean I tried doing it in smaller time
frames but could not be very successful.
Thnks..your big fan..[/quote]
Helloo Learning pips,
You know what your questions does to me? it challenges me...really, it does..like digging
down the well of yourself..believe me guys, these questions are NOT easy, though
simple..neither is understanding market behaviour or ''tells'' for consistent
profitability..
So we go back to our monthly charts on the GBPUSD..remember last time, we talked about a
reversal date of 4 to 8 months from now, for the cable..in which , price would have reached
a high probability turning point from its downtrend to (A) an uptrend reversal or (B), a
sideways consolidation or range in which the market is not ready to reverse but would
continue trading in the same direction as the current trend.So price on cable has a maximum of 9 months to show a reversal, according to the Reversal Date technique.
http://i72.servimg.com/u/f72/11/82/15/01/monthl10.gif">http://i72.servimg.com/u/f72/11/82/15/01/monthl10.gif" />
We shouldnt mix the concept of the Reaction Swing and Projected Reversal Date with the 60%
buy/sell windows. The R.S is mainly used for TIME PROJECTIONS while the 60% buy/sell windows
are more useful in the realm of PRICE PROJECTIONS.Now look at BC, the Reaction Swing where
we got the centre of the circle in which the past can project the future..though price would
have triggered our centre of the Reaction Swing @ 1.8300..it made a turnaround at the 60%
window..where the red arrow was.. Except you got very deep pockets to withstand a $1300 pip
downward move with leverage,you would've been stopped out..It was at the 2nd try, where the
blue arrow was, that price cleanly triggered the buy stop at the centre of the Reaction
Swing, and rocketed up..
Another difference is the R.S/R.D are mainly used in PRICE RETRACEMENTS, while the BUY/SELL
WINDOWS, are mainly used PRICE TRENDS..Always understand the difference, like understanding
your reality..''where Am I At In The Present Moment Of Now?'' Where Am I In The Greater
Scheme Of The Universe?Am I in a full trend or a retracement/correction?
2 Actually, you can apply those TIME PROJECTION TECHNIQUES on any timeframe, whether 5min,
15min, hourly, or weekly,etc.. The major challenge is counting those bars or candlesticks,
for the lower the timeframes, the more Reaction Swings inherent in them, and the more you do
your counts.. Since John Crane is from the futures/commodities world, most of his strategies
are different, yet similar to those in the forex world. His brilliant book, ADVANCED SWING
TRADING'', is very helpful for swing and position traders..
[QUOTE=Mageroi;216443]My studies have proven to me that flexible and liberal interpretation
of EWA coupled with precise Fibonacci proportions & extensions on Price much more accurate
and practicable than all the Time studies of Gann, Delta, MM etc...
From practice & observation of others (including the newsletters from Copan) Delta or MM are
pretty much based on loose, flexible timings.The theoretical assertiveness of Copan in his
tapes is impressive but his newsletters are nourished with incertitudes....
I have yet to find a Timing study more precise than Price to trade with despite all the hype
about Time. Time cycles dissapears at times......
Just my experience and choice I guess.[/QUOTE]
Hmmm, Mageroi, you might be quite right there..though they still have their uses..Is Time
Projection a core strategy of Buffetology?
[QUOTE=MB219TR;209978]Dear Madam and Dear Sir,
My name is Mahir I am a investor in Turkey, I would to ask you a question if you permit.
According to the exchange rates, the £ exchange rate to the $ was 1,99 at the common years,
now it decreases to 1,49.
According to the exchange rates, the £ exchange rate to the € was 1,55 at the common years,
now it decreases to 1,17.
As we have in our owner equity, our capital is almost all in British Pounds. According to
the long-term finance management we have a loss of about 900.000 Dollar’s because of the
exchange course.
My question is what do you advice me to do. Should I change to Euro or will the Pound be
stable and will gain its unique power again.
I hope you are not suprised about this mail because there to many speculations and I really
do not now how to act thats why I need help for an advice from you.
I thank you in forward and hope for your reply.
Yours Sincerly,
MAHIR - [email]MB219TR@YAHOO.COM[/email][/QUOTE]
Well, Mahir,
just dont overlook GOLD as an alternative asset class, that traders run to during periods of
market uncertainity.
http://news.yahoo.com/s/ap/20081129/ap_on_bi_ge/ml_opec_meeting
[QUOTE=danew13;215670]trying to max my dollar exchange to gbp...i can wait...is it worth it?
some predict gbp will tank at 1.40 dol. opinion?[/QUOTE]
Even lower, danew...Price on the cable have up to 9 months to prove it.
NOW,SUNDAY,our previous order is still on,.we put a sell stop on GBPUSD @ 1.5300..1st target
@ 1.5260...2nd target @ 1.5175..3rd target @ 1.5090..sl @ 50 pips away from entry..
[10:32:33 26/11/08] Stalion : we also put a buy stop on gu @ 1.5540...1st target @
1.5580..2nd target @ 1.5615
[10:33:04 26/11/08] Stalion : sl @ 40 pips away..
If you care to observe, both buy and sell stops are at the extreme end of the Thanksgiving
week range..so we call this THE MONTHOBAMA TECHNIQUE
http://i72.servimg.com/u/f72/11/82/15/01/montho10.gif">http://i72.servimg.com/u/f72/11/82/15/01/montho10.gif" />
[00:07:31 24/11/08] Stalion : hi everyone
[00:09:04 24/11/08] Stalion : price made a bullish gap on the opening gap of the Asian
session....so its a very good opportunity
[00:09:40 24/11/08] Stalion : we put a sell stop @ 1.4922..1st target @ 1.4881..2nd target @
1.4840..3rd target @ 1.4787...if you fear a trap, you can also put a buy stop on the same
entry @ 1.4922..1st target @ 1.4945..2nd target @ 1.4970..3rd target @ 1.4995..on the
bullish side..USDCHF might also open on the bullish side @ 1.2225..1st target @ 1.2245..2nd
target @ 1.2262
[00:10:13 24/11/08] Stalion : we revise our sell stop to 1.4945
[00:53:13 24/11/08] djcarlos : FXCM it having problems... i cant enter the sell stop
[01:14:33 24/11/08] djcarlos : entry point was hit??? I cant see
[01:26:30 24/11/08] Stalion : hmmmm....
[01:27:04 24/11/08] Stalion : the doggy style didnt work?
[01:27:46 24/11/08] djcarlos : I dont know ... I cant see .. my plataform it having
problems...
[01:32:03 24/11/08] djcarlos : how was the alert???
[01:33:52 24/11/08] Stalion : we just hit first target
[01:34:07 24/11/08] djcarlos : Sad
http://i72.servimg.com/u/f72/11/82/15/01/doggys10.gif">http://i72.servimg.com/u/f72/11/82/15/01/doggys10.gif" />
[01:39:46 24/11/08] Stalion : u can still enter now....
[01:40:01 24/11/08] Stalion : price still has some distance to go....
[01:50:28 24/11/08] djcarlos : I cant because my broker is not working
[01:51:19 24/11/08] djcarlos : The doggy style is going to be like trapping dragon.... it
will going up.. after down??
[02:57:15 24/11/08] djcarlos : I cant enter yet
[QUOTE=bertmaple;214613]I dont know Holmes,
looks like the USD is about to go down.[/QUOTE]
http://i72.servimg.com/u/f72/11/82/15/01/doggys11.gif">http://i72.servimg.com/u/f72/11/82/15/01/doggys11.gif" />
Dr Who?
Sorry...bert...stuff happens..right?
Hi everyone, hope ur all having a nice day...the UK gdp REPORT CAME OUT THE SAME , SO FOR
NOW,WEDNESDAY, TECHNICAL ANALYSIS IS PREEMINENT..we put a sell stop on GBPUSD @ 1.5300..1st
target @ 1.5260...2nd target @ 1.5175..3rd target @ 1.5090..sl @ 50 pips away from entry..
[QUOTE=onwukarisa;11172]hello stallion,
please i have some questions for you:
1) Please how do you know which time frame to do your analysis. i just noticed that at ties,
you do your analysis on 5 minutes chart, 15 minutes chart or 4 hours chart. Please what
factors
do you actually put into considerations when choosing this time frame?
2)i have also noticed that the way you choose your pattern formations vary(whether 1-2-3 top
or
bottom). in some cases,you space out the distance b/w the points 1,2,and 3. And in some
cases,
the distance b/w the points are very close? Please why is this so?
3) You sometime made mention of a hammer to me. Please if i see a bearish or bullish hammer,
what does that mean or what do i expect to see?
4) "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.."
My question here is this: can a doji also tell you that a preceding fall or drop is also
losing steam?[/QUOTE]
Trust onwuka to ask some of those deep questions...
We use what traders popularly call the TOP DOWN APPROACH..starting from the higher
timeframes(monthly, weekly, daily and four hourly), to the lower timeframes(hourly,
15min,and 5 minutes..)..As we are mainly on intraday trading,we use lower timeframes to
pinpoint entries and exits...higher timeframes are mainly used by position and swing
traders..also good for knowing the overall trend..
2..The spacing of the 1-2-3 pattern is quite irrelevant due to the fact that market dynamics
change as time progresses..trading is a function of time and space..HOW long can price
travel in a session(s)..What you are looking for is the OVERALL pattern, not the difference
in sums between the parts of the whole..
3..A bullish hammer is oulined like a hammer...where the shadow or tail is twice the length
of the real body of the candlestick..whether dark or white..it means price is pausing in
order to reverse or continue its walk..
And yes, a doji can also foretell a preceeding fall losing steam..
[quote='Reealjrd' pid='6695' dateline='1227339374']
Market has recovered some shat. But we cannot say it a recovery because some market news say
that the market might once again show some dip. So be cautious when the market goes up.
Yes, we surely will,Reeal...
[QUOTE=arranp;209765]Hello,
How long to stay short of sterling? how long until sterling recovers?
I have a USD fund with a STG equivalent, at some point I should switch from USD into STG, I
am wondering if now is to soon.
Thanks in advance for advice.
Regards
Arran.[/QUOTE]
'The Reaction Swing is the centre of the cycle, where you can look back and then based on
this information, determine where the cycle will go in the future.Since the Reaction Swing
is where the Action ends and the Reaction begins, it marks the centre of a repititive cycle
in which the past can project the future..
In the monthly chart below, the price movement between B and C is the Reaction Swing.
A Reaction Swing begins and ends with the lowest and highest closing prices..All you need to
know are the dates of the highest closing price and the lowest closing price of the Reaction
Swing in order to move on to the next step- PROJECTING FUTURE TURNING POINTS IN THE MARKETS
CALLED REVERSAL DATES, WHERE PRICE AND TIME CONVERGE.
http://i72.servimg.com/u/f72/11/82/15/01/gufrie12.gif">http://i72.servimg.com/u/f72/11/82/15/01/gufrie12.gif" />
Subtract the low of 1.7047(C), from the high of 1.9554(B) to get a difference of 0.2507
Divide 0.2507 by 2 (half) to get a total of 0.1254
Subtract 0.1254 from the high of 1.9554 and you get a price of 1.8304 ass the centre of the
Reaction Swing.
Place a sell stop at 1.8304.When the market passes through this price, the sell stop is
triggered and you are short GBPUSD at 1.8304.That should be around august this year..
The next step is to determine the maximum possible timespan of the trade..According to TIME
PROJECTION strategies, the Reversal date(high probability turning point of its trend) is
scheduled as from 4 to 8 months from now..Those on March futures could take mental note.
Whichever comes first...1.3090 target for our price projection or 4 to 8 months in our time
projection..whichever one comes first
[QUOTE=kongsar168;135846]is everyone here ever use indicator cat50fx ???[/QUOTE]
Not sure,kong..
[QUOTE=onwukarisa;11051]Hello Mystikal,
How are you doing?Please i will like to ask apart from the 123 top and bottom, is there any other type of chart pattern that can be formed.[/QUOTE]
Yes, onwuka...there are some good chart patterns around...just google head and shoulder patterns, W top and bottom, wedges,triangles,pennants, etc..You could find something useful that might assist you in your trading activities..If you checked those charts, you would hardly see any indicators...every trading decision is based from the charts and patterns..no mumbo jumbo indicators or lines all over the place,,just straight from the charts..
[QUOTE=KITT862;9522]it seems too complicated/technical for me . really for beginner? for me, I just need easy/simple indicator or EA to decide buy or sell.[/QUOTE]
Lol,kitty...in reality..it is quite simple and easy in forecasting..Dont stop it if you think you gonna make a profit..
Many of the most simplest things in life are the most profound..like hydrogen,with the atomic number of 1.
We need 2 atoms of oxygen with an atom of hydrogen, to form 1 molecue of water(H20)..Very simple but many people are not AWARE..''For the Bible says;My people Perish Due To Lack Of Knowledge/Vision''..
Until you are AWARE that YOU are the INDICATOR..YOU are the Expert Advisor...YOU are the ROBOT...YOU are the HOLY GRAIL'',,you would always see yourself as a beginner in the markets..
Until you throw off the clutches of EA's, robots,and diverse indicators, and start taking trading decisions straight from the charts,you would always tend to see yourself handicapped from reaching your goals of making profits through trading..
YOU TAKE THE DECISION...YOU TAKE THE RESPONSIBILITIES..NOT A ROBOT..FOR YOU ARE THE R-O-B-O-T!
[QUOTE=logoodung;213517]I went short @ 1.4944 yesterday at about 7am with limit set at 1.49 and stop loss at 1.50. Up to 11am the range fluctuated between 1.4960 to 1.4995 even after the BoE minutes. Did I miss something? After the CBI report obviously I was out the trade and seeing the trend of GBP extend to 1.51+. Why didn't this go my way?[/QUOTE]
Sorry,logoodung, you were right in the middle of the 3 low of the 1-2-3 pattern,which usually foretells a bullish bias..Problem was, you thought short, instead of long..Thats what you missed, mon ami..ohh, by the way, there was also a bullish hammer candlestick just where you went short, which formed as support to price..so where you would've gone right, as in the solution, was by putting a sell stop below the low of 1, of the 123 chart pattern,which if triggered, would confirm your bearish bias in pric e movement..
[QUOTE=mystikal;11120]
[20:33:40] Stalion : hi folks, its a cool evening here in the city of Lagos,
And we also put a sell stop on GBPUSD @ 1.4970...1st target @ 1.4945..2nd target @
1.4920..3rd target @ 1.4895..
http://i72.servimg.com/u/f72/11/82/15/01/gcool310.gif">http://i72.servimg.com/u/f72/11/82/15/01/gcool310.gif" />
We call it TRAPPING THE DRAGON TECHNIqueza[/QUOTE]
[20:45:50 19/11/08] Maximus : ok I got it, thx Stalion.....
[20:50:33 19/11/08] djcarlos : thanks Stal
[09:24:57 20/11/08] klho83 : I missed that:(
[10:31:43 20/11/08] klho83 : Hi Max.
[10:58:56 20/11/08] masif1 : guys stalion did NOT post the following alert
[10:59:05 20/11/08] masif1 : And we also put a sell stop on GBPUSD @ 1.4970...1st target @ 1.4945..2nd target @
[11:00:48 20/11/08] masif1 : 1.4920..3rd target @ 1.4895..
[11:00:55 20/11/08] masif1 : this was on the forum
[11:01:08 20/11/08] masif1 : http://www.trade2win.com/boards/forex-strategies-systems/29911-review-strategic-tips-milking-major-currency-pairs-24.html
[11:01:13 20/11/08] masif1 : posted last night
[11:01:23 20/11/08] masif1 : the buy call we would have got stopped out on
[11:01:37 20/11/08] masif1 : however the sell call we would have made profit Wink
[11:06:42 20/11/08] masif1 : or was that the original sell alert stalion sent yesterday morning?
[11:06:59 20/11/08] masif1 : i know i should not have cancelled it ;(
http://i72.servimg.com/u/f72/11/82/15/01/gcool410.gif">http://i72.servimg.com/u/f72/11/82/15/01/gcool410.gif" />
so for Friday,we put a buy stop on GBPUSD @ 1.4865...1st target @ 1.4900...2nd target @ 1.4950...3rd target @ 1.5050
[QUOTE=jeffsmith;384871]Looking at GBP/USD intraday: key ST resistance at 1.5.
Pivot: 1.5
Preferred: Short positions below 1.5 with targets @ 1.4815 & 1.467 in extension.
Alternative scenario: Above 1.5 look for further upside with 1.51 & 1.513 as targets.
Comment: the RSI has banged against a major resistance around 70% and is reversing down.
It is being said the pound's decline will assist GB's economy so as long as it doesn't turn
into a ``run'' on the currency.Investors are selling the pound on concern about the size of
GB's recession.[/QUOTE]
Nice one, jeffsmith, keep it coming..
[QUOTE=stalla;212577]Nice analysis !!!
I think the pound keeps getting pounded for further losses after the negative view trotted
out by King and company midweek and by the backdrop of the country's current account deficit
and huge fiscal challenges. These are the same types of problems faced by the typical
emerging market country in a global crisis and some are even starting to talk up the idea of
a currency crisis for the UK. The negative momentum that GBP has worked up at this point is
getting worrisome and may demand an official response very soon if GBPUSD moves to 1.4000
and EURGBP to 0.9000. We've been taken aback at the vehemence of the moves - the GBP crosses
are dangerous territory.
Regards[/QUOTE]
Yes,stalla, you might be quite right on that one, you know..especially with the GBP crosses
like GBPCHF and GBPJPY, aka the beast..so prudent money management during trading is very
important..
[11:11:55 19/11/08] Stalion: hi everyone
[11:12:17 19/11/08] Maximus : Hey Stalion good to hear from you..
[11:14:08 19/11/08] djcarlos : Hi
[11:16:02 19/11/08] Stalion : cool...
[11:21:42 19/11/08] Stalion : also a buy stop on gu at 1.5005..1st target at 1.5025..2nd
target at 1.5045...40 pip sl away
[11:25:43 19/11/08] djcarlos : so, the buy entry was hit???
[11:26:33 19/11/08] Stalion : yes, dj...
[11:26:46 19/11/08] Stalion : we are on the ride
[11:44:07 19/11/08] klho83 : All targets hit
[11:45:24 19/11/08] djcarlos : yes
[11:50:35 19/11/08] masif1 : wow - quick 40pips!
http://i72.servimg.com/u/f72/11/82/15/01/gcool10.gif">http://i72.servimg.com/u/f72/11/82/15/01/gcool10.gif" />
[11:50:35 19/11/08] Maximus : do we live the sell stop there?
[11:50:47 19/11/08] masif1 : and still going up!
[11:53:16 19/11/08] Maximus : guys do myou keep your sell entry activated or not?
[11:56:07 19/11/08] djcarlos : I saw in dailyfx.com that GU will going to make pivot in
1.5050
[11:56:34 19/11/08] Stalion : no...delete the sell stop entry for now, since market dynamics
have changed
[11:56:46 19/11/08] djcarlos : ok
[11:57:00 19/11/08] Maximus : thx...
[11:57:03 19/11/08] Stalion : hope you got ur trailing stop on
[11:58:00 19/11/08] Stalion : what kind of pivot,dj? what do you mean about pivot at 1.5050
[11:58:03 19/11/08] Maximus : exit 1.5045 because only trading 0.10 lots..
http://i72.servimg.com/u/f72/11/82/15/01/gcool110.gif">http://i72.servimg.com/u/f72/11/82/15/01/gcool110.gif" />
[11:58:35 19/11/08] djcarlos : I can send to you the chart by mail
[11:59:07 19/11/08] klho83 : Is the sell stop still valid?
[11:59:48 19/11/08] masif1 : i have left the sell in place
[11:59:54 19/11/08] Stalion : it doesnt matter, max..you could close half of the 0.1 lot
...as in, 0.05..the allow d other half to ride with a trailing stop..
[20:33:40] Stalion : hi folks, its a cool evening here in the city of Lagos, so we put a buy
stop on GBPUSD @ 1.5045..1st target at 1.5070...2nd taRGET AT 1.5095..3rd target at
1.5120...50 pip sl away
http://i72.servimg.com/u/f72/11/82/15/01/gcool210.gif">http://i72.servimg.com/u/f72/11/82/15/01/gcool210.gif" />
And we also put a sell stop on GBPUSD @ 1.4970...1st target @ 1.4945..2nd target @ 1.4920..3rd target @ 1.4895..
http://i72.servimg.com/u/f72/11/82/15/01/gcool310.gif">http://i72.servimg.com/u/f72/11/82/15/01/gcool310.gif" />
We call it TRAPPING THE DRAGON TECHNIqueza
Stalion : Its 5a.m here in Nigeria and am in the dark,with just the glow of the computer screens casting an ethereal and pychedelic sheen to
the surroundings..just the candlesticks telling their midnight stories..so we put a sell
stop on GBPUSD @ 1.4860...1st target @ 1.4845..2nd target @ 1.4825...3rd target @ 1.4790
[05:18:06 14/11/08] Stalion : sl @ 1.4010
Happy weekend,folks,
Someone asked me the other day what Black Friday was..And another, to her, felt her trade
that day was Black Friday becvause she had some losing trades.. Well I did some little
research on it from INVESTOPEDIA and here are some meanings of that term
1. A day of stock market catastrophe. Originally, September 24,
1869, was deemed Black Friday. The crash was sparked by gold speculators, including Jay
Gould and James Fist, who attempted to corner the gold market. The attempt failed and the
gold market collapsed, causing the stock market to plummet.
2. The day after Thanksgiving in the United States. Retailers generally see an upward spike
in sales and consider this to be the start of the holiday shopping season. It's common for
retailers to offer special promotions and to open early to draw in customers.
3. The term "black" has been used to describe other disastrous days in financial markets.
For example, on Black Tuesday, October 29, 1929, the market fell precipitously, signaling
the start of the Great Depression. The largest one-day drop in stock market history occurred
on Black Monday, October 19, 1987, when the Dow Jones Industrial Average plummeted more than
22%.
To God be the glory, our call was hit around 5 times,back to back, on yesterday's White
Friday. 70 pips,$70 minilot,$700 standard lot was made from that call..
We could actually see there was a mini head and shoulder pattern
[05:18:06 14/11/08] Stalion : sl @ 1.4010
[05:21:05 14/11/08] pipsRus : hello
[05:21:30 14/11/08] djcarlos : hi stal
[05:22:56 14/11/08] djcarlos : 1st target hit Very Happy
http://i72.servimg.com/u/f72/11/82/15/01/white_10.gif">http://i72.servimg.com/u/f72/11/82/15/01/white_10.gif" />
[05:24:24 14/11/08] Stalion : hi pipRus
[05:24:37 14/11/08] Stalion : 2nd target hit
[05:27:54 14/11/08] Stalion : I take it you've already closed at least half of ur order, dj?
We could see a mini head and shoulderrs pasttern on the 15 minute chart, which foretold a
bearish movement..After making our 70 pips, we shifted our stop loss to the entry point of
1.4810...That was why the broken shaded blue line was now red in the second chart...
http://i72.servimg.com/u/f72/11/82/15/01/white_11.gif">http://i72.servimg.com/u/f72/11/82/15/01/white_11.gif" />
[05:29:02 14/11/08] djcarlos : im out it was an exelent trade arround 40 pips in my bag
[05:30:22 14/11/08] djcarlos : thanks to call me... it was exelent
[05:54:50 14/11/08] djcarlos : Stal Ill expecting for other alerts.... thanks, call me or
sms me....
[05:58:18 14/11/08] Stalion : Hey, dj, easy on the greed, okay...
[05:58:33 14/11/08] Stalion : are you not guys not okay with 70 pips?
[06:02:00 14/11/08] djcarlos : yes stal i ll be carefully... im taking profits to open a
managed account
[06:13:56 14/11/08] Stalion : hmmmm...
[06:51:24 14/11/08] Stalion : if you reentered again on our original sell entry, you
would've been smiling by now...
[10:12:44 14/11/08] djcarlos : hi stal....
[10:20:11 14/11/08] djcarlos : i was re-enter and i won 2o pips and then go out because de
waves is going up
[10:20:23 14/11/08] djcarlos : Very Happy
The stop loss on the right shoulder ensured that we are not stopped out in the present
downtrend..if price breaches that high, we should be seeing a new retracement....
http://i72.servimg.com/u/f72/11/82/15/01/white_12.gif">http://i72.servimg.com/u/f72/11/82/15/01/white_12.gif" />
All in all, it was a jolly Good White Friday..
So for today,Sunday the 16th of November,we await the opening bell of the Asian Session to
commence trading..
[QUOTE=palmguy]Sell stop on GBPUSD @ 1.8321...[/QUOTE]
Hi palmguy, thanks for your contribution ..though presently, price on the GBPUSD is at
1.4737...it would need to go up about 400 pips before your sell stop is triggered..
So for today, we might likely see a BULLISH GAP to the upside in less than 7 hours from now.
We put a buy stop on our 60% BUY WINDOW @ 1.4765...1st target @ 1.4805..2nd target @
1.4840...3rd target @ 1.4884..sl @ 1.4700
http://i72.servimg.com/u/f72/11/82/15/01/white_14.gif">http://i72.servimg.com/u/f72/11/82/15/01/white_14.gif" />
[QUOTE=mystikal;10988][05:17:33 14/11/08] Stalion : Its 5a.m here in Nigeria and am in the
dark,with just the glow of the computer screens casting an ethereal and pychedelic sheen to
the surroundings..just the candlesticks telling their midnight stories..so we put a sell
stop on GBPUSD @ 1.4860...1st target @ 1.4845..2nd target @ 1.4825...3rd target @ 1.4790
[05:18:06 14/11/08] Stalion : sl @ 1.4010[/QUOTE]
Happy weekend,folks,
Someone asked me the other day what Black Friday was..And another, to her, felt her trade
that day was Black Friday becvause she had some losing trades.. Well I did some little
research on it from INVESTOPEDIA and here are some meanings of that term
1. A day of stock market catastrophe. Originally, September 24,
1869, was deemed Black Friday. The crash was sparked by gold speculators, including Jay
Gould and James Fist, who attempted to corner the gold market. The attempt failed and the
gold market collapsed, causing the stock market to plummet.
2. The day after Thanksgiving in the United States. Retailers generally see an upward spike
in sales and consider this to be the start of the holiday shopping season. It's common for
retailers to offer special promotions and to open early to draw in customers.
3. The term "black" has been used to describe other disastrous days in financial markets.
For example, on Black Tuesday, October 29, 1929, the market fell precipitously, signaling
the start of the Great Depression. The largest one-day drop in stock market history occurred
on Black Monday, October 19, 1987, when the Dow Jones Industrial Average plummeted more than
22%.
To God be the glory, our call was hit around 5 times,back to back, on yesterday's White
Friday. 70 pips,$70 minilot,$700 standard lot was made from that call..
We could actually see there was a mini head and shoulder pattern
[05:18:06 14/11/08] Stalion : sl @ 1.4010
[05:21:05 14/11/08] pipsRus : hello
[05:21:30 14/11/08] djcarlos : hi stal
[05:22:56 14/11/08] djcarlos : 1st target hit Very Happy
http://i72.servimg.com/u/f72/11/82/15/01/white_10.gif">http://i72.servimg.com/u/f72/11/82/15/01/white_10.gif" />
[05:24:24 14/11/08] Stalion : hi pipRus
[05:24:37 14/11/08] Stalion : 2nd target hit
[05:27:54 14/11/08] Stalion : I take it you've already closed at least half of ur order, dj?
We could see a mini head and shoulderrs pasttern on the 15 minute chart, which foretold a
bearish movement..After making our 70 pips, we shifted our stop loss to the entry point of
1.4810...That was why the broken shaded blue line was now red in the second chart...
http://i72.servimg.com/u/f72/11/82/15/01/white_11.gif">http://i72.servimg.com/u/f72/11/82/15/01/white_11.gif" />
[05:29:02 14/11/08] djcarlos : im out it was an exelent trade arround 40 pips in my bag
[05:30:22 14/11/08] djcarlos : thanks to call me... it was exelent
[05:54:50 14/11/08] djcarlos : Stal Ill expecting for other alerts.... thanks, call me or
sms me....
[05:58:18 14/11/08] Stalion : Hey, dj, easy on the greed, okay...
[05:58:33 14/11/08] Stalion : are you not guys not okay with 70 pips?
[06:02:00 14/11/08] djcarlos : yes stal i ll be carefully... im taking profits to open a
managed account
[06:13:56 14/11/08] Stalion : hmmmm...
[06:51:24 14/11/08] Stalion : if you reentered again on our original sell entry, you
would've been smiling by now...
[10:12:44 14/11/08] djcarlos : hi stal....
[10:20:11 14/11/08] djcarlos : i was re-enter and i won 2o pips and then go out because de
waves is going up
[10:20:23 14/11/08] djcarlos : Very Happy
The stop loss on the right shoulder ensured that we are not stopped out in the present
downtrend..if price breaches that high, we should be seeing a new retracement....
http://i72.servimg.com/u/f72/11/82/15/01/white_12.gif">http://i72.servimg.com/u/f72/11/82/15/01/white_12.gif" />
All in all, it was a jolly Good White Friday..
So for today,Sunday the 16th of November,we await the opening bell of the Asian Session to
commence trading..
[QUOTE=palmguy]Sell stop on GBPUSD @ 1.8321...[/QUOTE]
Hi palmguy, thanks for your contribution ..though presently, price on the GBPUSD is at
1.4737...it would need to go up about 400 pips before your sell stop is triggered..
So for today, we might likely see a BULLISH GAP to the upside in less than 7 hours from now.
We put a buy stop on our 60% BUY WINDOW @ 1.4765...1st target @ 1.4805..2nd target @
1.4840...3rd target @ 1.4884..sl @ 1.4700
http://i72.servimg.com/u/f72/11/82/15/01/white_14.gif">http://i72.servimg.com/u/f72/11/82/15/01/white_14.gif" />
[QUOTE=artlowell@upwadaccess.com;182064]Thanx for the response, Forexgreenland. Looks like
I'm in the wrong forum.
I googled "uptick rule" and every search result was in a language that I don't understand.
They don't allow short-selling with IRA money. They also won't allow day-trading. Ah,
according to Investopedia, the uptick rule was eliminated June 6, 2007.
There are lots of equities just lying on the floor at bargain prices, just bubbling
sideways. Good for some profits sometime in the future, but not doing anything right now. It
looks like Forex is always active. (I know nothing about this market. Looks tricky).
I liked your zen-oriented description of the trader's frame-of-mind in your opening post in
this thread. I'm still in the first stage with some forays into the second. It is an
interesting journey.[/QUOTE]
Hi art,
I feel your pain...the languages coming out from those search engines on uptick rule were
kind of like finance hieroglyphics...since it had been eliminated since 2007, no worries..
yes, forex is always active with lots of volatility, but it only looks tricky when you are
not that familiar with the market.. Warren Buffet was right when he was quoted as saying
''Risk comes from not knowing what you are doing''..but you can still learn the ropes if you
are willing and committed..
Well, you dont really have to be a Zen Master, or a Yogi master, or Shaolin Master, or even
a Shambala Master, before getting ''in the flow''.. Just let yourself go..
''A journey of a Thousand Miles Begins With A Single Step..
[url=http://news.yahoo.com/s/ap/20081113/ap_on_bi_ge/oil_prices;_ylt=ApzYKVH9YHHSykrFHQ7Oo65v24cA]Oil prices follow Wall Street on wild ride - Yahoo! News>
[QUOTE=barbs;208943]As an American who has most of their savings in sterling, I've got one
word to sum up what I feel right now.
F*%K!![/QUOTE]
Me too, barbs...I feel ya...
Ohh, by the way, lemme wish you Americans a Happy Thanksgiving Day in advance..Did I hear
someone say Turkey Day?
[QUOTE=Forexgreenland;208839][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...[/QUOTE]
http://i72.servimg.com/u/f72/11/82/15/01/13th_n10.gif">http://i72.servimg.com/u/f72/11/82/15/01/13th_n10.gif" />
[QUOTE=y_2008;209042]What is happening? usd was sold accross the board (except agains yen)
by more than 200 pips in one hour or so. Can any body explain?[/QUOTE]
No probs, mon ami..The pound was battered after the Bank of England said on Wednesday the British economy would shrink sharply next year, bolstering expectations that further sharp cuts in interest rates were in the pipeline.Lower interests rates means lower value of the currency due to
investors selling the low yield currency to buy higher yielding currencies.. That would
bring about a downward sell pressure on the gbpusd.
[QUOTE=markdaniel213;209028]I need to purchase 1000 GBP to pay a debt in the UK, and have
been trying to keep an eye on the exchange rate (as I'll have to buy the 1000 GBP with USDs
- I'm a US citizen and am paid in USDs :D )
Can you experts offer me suggestions around when I should buy the GBPs? I must have them by
end-of-month December 2008, but am not sure how to get a good idea (forecasting and such) as
to when between now and 31st Dec 2008 would be the best time to exchange USDs for GBPs.
Any help that you can offer if VERY much appreciated!! :)
Thanks!!
Mark[/QUOTE]
Hi markdaniel,any relations with mark anthony??LOL..
You've just boiled it down to a simple question..What is meaning of forex?
It is the buying and selling of international currencies..I think you might need a cup of
coffee for this..
For example, 1 GBPUSD is equivalent to 1.4700 dollars..1000 GBP is equivalent to 1470
dollars USD..that is, at the international rate of 1.4700...You are using 1470 dollars to
buy 1000 pounds sterling..
But wait...The current fundamentals suggest Britain is in the throes of recession, while the
BOE is about to further slash interest rates in the nearest future..Low interest rates from
bad economic recessionary data spewing forth from the UK is likely to pull the T-strings of
cable down south..wow..
http://i72.servimg.com/u/f72/11/82/15/01/13th_n11.gif">http://i72.servimg.com/u/f72/11/82/15/01/13th_n11.gif" />
Technical analysis wise, price have fallen way beyond the 60% BUY WINDOW on the monthly
charts,with 4 long range bearish candles going ballistic underground.. Both MACD divergences
foretells bearish movement of price on the GBPUSD..A Category Four Trendline has already
taken place..
so come December, price getting to our projected target point of 1.3090, , you BUY 1000GBP
for $1,309 dollars..since the GBP would have likely lost more value in the weeks to come..Does that mean we might be seeing a dollar rally before the end of the year 2008? Of course..just got ma fingers crossed..
I hope you now understand..
Remember, nothing is cast in stone on forex...and in life...Also do your own research before
taking any recommendations...Feel free to discuss it here..
sorry guys, that I forgot to alert you due to internet blackout in my zone..more than 300
pips,$300 minilot,$3000 standard lot was made on the sell stop of gbpusd wednesday
afternoon.., which offsetted our previous double buy stop loss of 50 pips each..making back
more than 3 times our previous loss...Well,what can I say..
http://i72.servimg.com/u/f72/11/82/15/01/screen10.gif">http://i72.servimg.com/u/f72/11/82/15/01/screen10.gif" />
[QUOTE=Dreams;13042]Thnks man for sharing to all these great info. I am very interested to
get into forex.[/QUOTE]
Hi Dreams, its possible to actualize ur forex dreams by the right dedication, proper
training, patience,hard work and positive mental attitude..
[QUOTE=Justin;384715]this is very cool! I'm learning to much . . . alright![/QUOTE]
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
http://i72.servimg.com/u/f72/11/82/15/01/alllgo10.gif">http://i72.servimg.com/u/f72/11/82/15/01/alllgo10.gif" />
[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...
[QUOTE=faizfakhirin;2749323]?????????????????????????????(penat nk baca)[/QUOTE]
Me too,faiz...I dont really understand...do you mean penance?
[QUOTE=retiredebtfree01;560508]Thank you for sharing useful information.We want you to come
up with useful information so that will be useful to everyone.[/QUOTE]
No probs, mon ami....we all try to do our best in all things, especially in trading..
[QUOTE=paulvsg;176521]Thanks stallon [/QUOTE]
No probs,paul..
[quote=Developer;7906]thnx for info brother are you in stock market ?[/quote]
Thanks for your mail,brother...I specialize in the forex markets..
[QUOTE=artlowell@upwadaccess.com;176752]The strategy that I have hoped to use is to have
four of five holdings going at all times, each with the goal of achieving a 10% gain within
a 5-10 day period. The strategy has been an utter failure, and I think the reason is this.
Every long I have attempted has lost money. Every Ultrashort I have tried has been
successful (I'm not allowed to short-sell). I believe that it is folly for somebody at my
skill level to attempt longs in an overall bear market. I no longer even consider a long
trade, especially with the prospect of an impending market crash.
There are few Ultrashorts to pick from and I am sort of without a good strategy for this
particular time.[/QUOTE]
Hi art, from your comments, I take it you are talking about the stock markets (not being
allowed to short-sell)..Is the uptick rule still in force at the equity markets?
But mind you, Warren Buffet,the No 1 stock investor is said to be buying up stocks recently
at rock bottom prices...Maybe its part of the contrarian strategy he's utilizing...Start
buying when prices are low and fear pervading the markets, while selling when prices are
high and greed driving the markets..thats just my 2 cents though..
Helloo fellow traders,
The 60% buy window on the GBPUSD made an inversion to the Way of the Dragon..sorry I
ommitted in writing out the buy order entry which is shown on the charts..As at Monday
midnite, price opened the session with a bullish gap and kicked in the buy order entry @
1.5760...Before we knew it,approximately 120 pips,$120 minilot,$1200 standard lot was made
at the high of 1.5885..The blue broken line shows the buy stop entry...
http://i72.servimg.com/u/f72/11/82/15/01/invert10.gif">http://i72.servimg.com/u/f72/11/82/15/01/invert10.gif" />
After the pips were made, our stop loss was then adjusted to the buy entry level, where stop
loss = 1.5760 = buy entry level...
This is what we see on the next chart below as the blue broken line now converted to a red
stop loss line..Very good risk management principle..
http://i72.servimg.com/u/f72/11/82/15/01/invert11.gif">http://i72.servimg.com/u/f72/11/82/15/01/invert11.gif" />
Another 120 pips was also made based on the bullish gap of the inverted dragon ...
http://i72.servimg.com/u/f72/11/82/15/01/invert12.gif">http://i72.servimg.com/u/f72/11/82/15/01/invert12.gif" />
Lets just say ...today was quite profitable...
[07:03:13 10/11/08] Stalion : Helloo everyone
[07:04:25 10/11/08] @ Stalion : we put a sell stop on gbpusd @ 1.5830...1st target @
1.5788..2nd target @ 1.5735..3rd target @ 1.5710...40 pips stop loss away
[07:34:14 10/11/08] djcarlos : 3 target hit.... Razz
[07:40:30 10/11/08] djcarlos : thanks for the sms, I ll Sleep again ...here is 03:39.....
but with 50 pips in the bag..... thanks
[08:00:00 10/11/08] Stalion : hi dj
[09:59:45 10/11/08] klho83 : Hi Max did u take the trade?
[10:00:27 10/11/08] Maximus : which one...
[10:01:11 10/11/08] klho83 : GU gbpusd @ 1.5830...1st target @ 1.5788..2nd target @
1.5735..3rd target @ 1.5710...40 pips stop loss away
[10:01:58 10/11/08] Maximus : no dit not take it...
[10:39:11 10/11/08] Maximus : not bad miss the first trade...
[11:05:58 10/11/08] romandaw : u trading anything?
[11:07:03 10/11/08] djcarlos : amazing fall on GU
[11:42:36 10/11/08] romandaw : hi there, you watching euro dollar?
[11:48:28 10/11/08] djcarlos : it having a strong uptrend.... but I prefer wait
[11:52:36 10/11/08] djcarlos : because I was read that GU it will have a pivot on 1.5800
http://i72.servimg.com/u/f72/11/82/15/01/invert13.gif">http://i72.servimg.com/u/f72/11/82/15/01/invert13.gif" />
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..
This is Stallion,veteran forex trader and mentor. I would be reviewing strategic tips on how the major currency pairs can be milked. Though I specialize in gbpusd, other pairs would also be taken into consideration during our analysis.
It has been theorized that your state of mind will dictate your trading methods. Experts in the field of trading psychology have pinpointed three main states of mind and how each has a direct effect on a trader's profitability.
These three mind states are "having", "doing" and "being". Psychologists have noted that those new to trading start with a "having" state of mind. As they gain more experience, they move on to a "doing" state of mind. The pinnacle of profitability occurs when a trader moves into the last and final "being" frame of mind.
The "Having" Mind Set
A novice trader may focus primarily on profits. In this "having" state of mind, they are out of sync with the markets. They are blinded by their obsession to obtain the all mighty dollar and what it can afford them. Trading is not viewed as a job that must be mastered, but as a vehicle to escape from a world of mediocrity.
Many traders are in the business to make money, as well as they should be. However, if they are blinded by greed, they tend to take uncalculated risks. Looking at the potential payoff without carefully calculating market trends and other factors is a recipe for disaster.
It is impossible to graduate to a high performance level when you concentrate on "having" instead of how the game is won. If you trade in a "having" frame of mind, you may become frustrated when profits are not immediately forthcoming. With frustration comes a lack of focus. Without the ability to focus, you cannot gain knowledge from your experience on the trading field.
Other negative consequences of this mindset are feelings of frustration and anger. Frustration stemming from a lack of expected profits and anger directed at oneself or the market in general. These adverse emotions will only cause further decline in profitability. Without witnessing gains from one's efforts, an individual may not give their best and may be tempted to "throw in the towel".
The "Doing" State of Mind
If an individual continues on to trade another day, they will eventually move from a "having" to a "doing" state of mind. Learning that there is more to trading than the amassing of money, a trader will turn their focus on learning new methods of trading and what does and doesn't work.
This state of mind is still primarily centered on how to turn a profit. Although a "doing" mind state is essential to becoming a seasoned adept trader, the main focus is still short of the mark. It is crucial to know what works and what doesn't. However, a skilled trader will tell you there is more to the business then choosing one method and using it arbitrarily to make trades across the board.
Becoming a trader of means requires not only a winning attitude, but also a fine honing of trading skills. To develop these skills, you must make trades using various methods under a wide spectrum of market conditions. Only then can you develop the needed intuition to master the art of trading.
Pinnacle of Profitability: The "Being" State of Mind
A successful trader almost instinctively knows how to make a trade using the best method available for the current market trend and/or condition. This ability does not occur overnight. It is only accomplished through perseverance, knowledge of various trading methods and learning which one works given a particular market condition.
No trade is ever a "sure thing". However, a profitable synchronicity almost naturally occurs when you are faced with a potential trade, have a feel for the current market trends and conditions, and utilize the method best suited for a potential payoff. This "being" state of mind ultimately lends itself to long-term success in the high stakes of trading.
[20:06:58 07/11/08] Stalion : We put a SELL STOP on GBPUSD@ 1.5660...1st target @
1.5600...sl@ 1.5715
http://i72.servimg.com/u/f72/11/82/15/01/gu6th310.gif">http://i72.servimg.com/u/f72/11/82/15/01/gu6th310.gif" />