Review of Strategic Tips on Milking the Major Currency Pairs in Live Forex Trading - page 3
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Conversations With Forexgreenland (The Matrix Pt 1)
Sell stop on GBPUSD @ 1.8321...1st target @ 1.8275,2nd target @ 1.8245, 3rd target @ 1.8207
Chris Taylor (9/22/2008 10:25:28 AM): I got stopped out on te cable trade during the nite.
Stallion (9/22/2008 10:29:35 AM): how come you got stopped out,cap?
Stallion (9/22/2008 10:30:36 AM): didnt u get to 1st target b4 putting sl to entry?
Chris Taylor (9/22/2008 10:32:08 AM): I set the trade up at 12:35pm GMT and got stopped out at 04:35am. It never
got lower than 1.8262, that was after I got stopped out.
Stallion (9/22/2008 10:32:30 AM): Sell stop on GBPUSD @ 1.8321...1st target @ 1.8275,2nd target @ 1.8245, 3rd
target @ 1.8207
Stallion (9/22/2008 10:33:06 AM): it got lower dan 1.8275 to 1st target....how come you got stopped out?
Stallion (9/22/2008 10:33:28 AM): dat was around 2a.m this morning
Chris Taylor (9/22/2008 10:34:45 AM): the time I entered the trade it went up. Got stopped out, then it went back
down. I was in bed asleep so couldn't re-enter.
Stallion (9/22/2008 10:35:28 AM): awwwww!!
Stallion (9/22/2008 10:35:39 AM): u took the signals late
Chris Taylor (9/22/2008 10:37:07 AM): i didn't check my emails till half 12. I see where it hit past 1st target, but I was
asleep then so wasn't able to take any pips.
Stallion (9/22/2008 10:37:57 AM): no probs...we are looking at a long gu trade right now...
Chris Taylor (9/22/2008 10:38:24 AM): OK. Any ideas on entries yet?
Stallion (9/22/2008 10:39:44 AM): yea....entries asre the most delicate part in trading...u might be right in going bullish or
bearish...but if ur entry is too late or too early, d stops are out..
Stallion (9/22/2008 10:54:09 AM): Buy Stop on the gbpusd @1.8480, 1st target @ 1.8530, 2nd target @ 1.8565, 40
pip sl..
Chris Taylor (9/22/2008 10:55:11 AM): brb need to re-boot pc.
Chris Taylor (9/22/2008 11:15:31 AM): I've still got 2 pending sell stops on cable Stal. Should I be deleting them?
Stallion (9/22/2008 11:16:08 AM): yea....delete d pending sell stop for now....
Stallion (9/22/2008 11:16:21 AM): we r going for the buy stop
Chris Taylor (9/22/2008 11:16:35 AM): ok
Chris Taylor (9/22/2008 11:23:34 AM): do you use the MACD indicator on your charts?
Stallion (9/22/2008 11:25:12 AM): I rarely do, cap....I prefer taking signals straight from the charts...
Chris Taylor (9/22/2008 11:26:09 AM): ok
Chris Taylor (9/22/2008 5:05:41 PM): I've staerted adding the spread and on the longs, and rounding to the nearest
whole number. My entry was then 1.8485. then I put my 40 pip stop from there.
Chris Taylor (9/22/2008 5:06:20 PM): I also made another 110pips on a 123 patttern I saw on the EURJPY this
morning.
Stallion (9/22/2008 5:06:33 PM):
Stallion (9/22/2008 5:06:38 PM): way to go, man
Chris Taylor (9/22/2008 5:07:20 PM): Dont expect that every time. Just been fortunate I guess with the last 2 I found.
I'm not complaining though
Stallion (9/22/2008 5:12:42 PM): yea..
Chris Taylor (9/22/2008 5:47:41 PM): you there dude?
Chris Taylor (9/22/2008 6:18:14 PM): we're almost at 2nd target for the long cable Stal
Stallion (9/22/2008 6:20:53 PM): yea...
Stallion (9/22/2008 6:21:23 PM): remember ur trailing stops,man
Chris Taylor (9/22/2008 6:21:31 PM): I moved my stop to +20 from entry and added a 20 point trailing stop.
Stallion (9/22/2008 6:21:55 PM): yea...forget about targets for now....jus ride with it..
Chris Taylor (9/22/2008 6:22:29 PM): I have a target price of 1.8600, but I'l have to keep adjusting that as it goes on.
Chris Taylor (9/22/2008 6:24:26 PM): do you think a 20 point trailing stop is enough?
Stallion (9/22/2008 6:25:14 PM): a 25 point might be better...
Stallion (9/22/2008 6:25:31 PM): price is at 1.8579 right now..
Chris Taylor (9/22/2008 6:25:52 PM): yeah and still climbing as well.
Chris Taylor (9/22/2008 6:26:05 PM): changed trailing stop to 25 points now then.
Stallion (9/22/2008 6:27:46 PM): cool
Chris Taylor (9/22/2008 6:28:45 PM): has there ben some news, because the EURUSD is fling as well.
Stallion (9/22/2008 6:31:23 PM): jus technical analysis, man...am 105 pips in profits as we speak on the gbpusd buy
order..
Chris Taylor (9/22/2008 6:32:25 PM): I think the price of oil has risen again today, maybe thats why the dollar is doing
what its doing.
Stallion (9/22/2008 6:33:58 PM): lol...oil and dollars don mix like 2 d**ks, else dey find demselves in serious sh**t
Chris Taylor (9/22/2008 6:34:28 PM): 2 d**ks certainly dont mix! lol
Stallion (9/22/2008 6:35:12 PM): 106 pips, $106 minilot,$1060 standard lot on gbpusd, less 40 pips.
Chris Taylor (9/22/2008 6:36:15 PM): I'm at 101 pips. Just seen the 123 bottom pattern on the cable 15M chart as well
for today. lol
Stallion (9/22/2008 6:41:10 PM): cool..
Conversations With Forexgreenland(The Matrix)
[09:26:59 25/09/08] Stalion : hi everyone
[09:28:30 25/09/08] Stalion : we put a sell stop at 1.8580...1st target @ 1.8555..2nd target
@ 1.8540
[09:43:14 25/09/08] caprica1 : morning stal
[09:53:27 25/09/08] wilmart : Morng all
[10:25:54 25/09/08] Stalion : hi there cap
[10:35:15 25/09/08] Stalion : sell stop triggered
[10:42:07 25/09/08] Stalion : remember to take half profits after +20 pips...
[11:08:30 25/09/08] albashir : corect me if am wrong....its at 8588 now isn't it?
[11:41:16 25/09/08] albashir : aproching 2nd target.
[11:41:41 25/09/08] Stalion : yea
[11:43:32 25/09/08] Stalion : about to
[11:43:45 25/09/08] Stalion : helloo eugen
[11:44:07 25/09/08] eugen3000 : hello Stal
[11:44:34 25/09/08] Stalion : hope u've taken off half profits by now...? remember price
doesnt move in a straight line,so we bank profits as soon as we can..
[11:47:00 25/09/08] Stalion : price at 1.8850 now..
[11:48:47 25/09/08] Stalion : target hit!
[12:14:12 25/09/08] caprica1 : we hit 2nd target. Nice one
[13:01:02 25/09/08] Stalion : so we made 40 pips off our call today...
[13:01:55 25/09/08] Stalion : we then put a buy stop @ 1.8557, 1st target @ 1.8587
[13:05:05 25/09/08] caprica1 : A BUY STOP?
[13:08:00 25/09/08] masif1 : some critical news out at 1.30bst for the us
[13:08:51 25/09/08] caprica1 : whats the news?
[13:10:24 25/09/08] Stalion : yes
[13:11:40 25/09/08] caprica1 : kool
[13:12:25 25/09/08] Stalion : how critical is the news, masif?
[13:15:38 25/09/08] Stalion : expectations on the US is quite negative....if news comes out
lower dan expectations, we might see gbpusd shooting up..
[13:16:18 25/09/08] Stalion : if news comes out as a surprise(higher dan expectations), it
might affect the cable's rise..
[13:18:14 25/09/08] caprica1 : we still keep the buy stop though?
[13:21:36 25/09/08] Stalion : yes, we do
[13:22:00 25/09/08] caprica1 : no probs boss.
[13:22:34 25/09/08] caprica1 : it's just hit that 1st target Stal
[13:22:46 25/09/08] Stalion : havent urs been hit??
[13:22:54 25/09/08] Stalion : yes, it did
[13:25:10 25/09/08] masif1 : target hit guys
[13:25:24 25/09/08] masif1 : did we have a second?
[13:25:58 25/09/08] masif1 : 30 pips from that and 40 pips earlier
[13:26:04 25/09/08] caprica1 : I was just thinking the same thing. Only saw 1 target
[13:26:11 25/09/08] masif1 : nice nice chicken and rice
[13:26:12 25/09/08] caprica1 : happy with the pips though.
[13:27:38 25/09/08] Stalion : lol....
[13:27:49 25/09/08] Stalion : seems u like chicken and rice
[13:28:26 25/09/08] Stalion : 70 pips should be okay for today, guys....
[13:29:32 25/09/08] Stalion : u can still get back in again...
[13:29:57 25/09/08] caprica1 : I'm happy with 70 pips. Thats a nice little return on the
day.
[13:30:08 25/09/08] caprica1 : not need to be too greedy
[13:30:26 25/09/08] masif1 : i agree
[13:30:32 25/09/08] masif1 : 70 pips is lovely
[13:30:42 25/09/08] Stalion : lol...
[13:40:57 25/09/08] Stalion : did u enter again, cap?
[13:41:12 25/09/08] caprica1 : I would like the price to get down to 1.8510 to hit the
target I've got for a 123 pattern I saw this morning.
[13:41:19 25/09/08] caprica1 : No, didn't re-enter
[13:44:29 25/09/08] caprica1 : have you re-entered Stal?
[14:15:21 25/09/08] Stalion : nope...am okay...for today....not everyday u bank 70 pips in forex, man
[00:08:45 26/09/08] Stalion : We put a buy stop @ 1.8400 on the gbpusd,1st target @
1.8445,2ndtarget @ 1.8475, 3rd target @ 1.8528,40 pip stop loss..take half profits when +20 pips in profit
Conversations With Forexgreenland(The Matrix 3)
[22:52:48 26/09/08] Stalion : hi there cap
[08:59:41 27/09/08] caprica1 : Hi Stal. I'm still on our long GU trade. I closed out half
lot at +20, and kept my SL where it was. The market closed @ 1.8444-5 last night, so it's
still up. I just hope it doesn't go against me when the market re-opens.
[09:22:54 29/09/08] fxjedi : Looks like the market is set for a "Super Friday" I bet usd up
and jpy up. All the others down...
[09:24:17 29/09/08] fxjedi : Bailouts: ECB's Kranjec: Bailouts are less expensive than
allowing a run on financial instittutions - Sees financial crisis continuing for some time
and there is a need for market and regulators to come up with solution Thai Central Bank
Chief: Ready to add more liquidity into banking system if necessary Belgium Fin Min: ING is
interested in acquiring ABN AMRO- Standing by to help Dexia if needed
[09:28:17 29/09/08] Stalion : seems the US bailout is doing a fine job propping up the
dollar
[09:30:44 29/09/08] fxjedi : Repatriation Flows Help USD? With Asia stocks having fallen and
with European equities in the red, reaction to the US bailout has hardly been universally
positive. "If stocks stay depressed, AUD/JPY, NZD/JPY and AUD/NZD are the obvious losers,
with the USD potentially benefitting from repatriation flows," says RBC Capital Markets.
[09:39:39 29/09/08] fxjedi : as I see the global meltdown of bankruptiecies has started
world wide....love more than 29 )))
[09:41:45 29/09/08] Stalion : looks live usdjpy is about taking a dive for the floor..
[09:42:26 29/09/08] Stalion : I mean, usdchf
[09:47:21 29/09/08] caprica1 : I got stopped out of the cable long from Friday as well
because of the market gap.
[09:47:47 29/09/08] caprica1 : luckly I had taken profit at halff lot size on friday on the
1st target price.
[09:53:59 29/09/08] Stalion : Sell Stop on the USDCHF @ 1.1017, 1st target @ 1.0995, 2nd
target @ 1.0970
[09:54:15 29/09/08] Stalion : 40 pip stop away...
[09:55:51 29/09/08] Stalion : yes cap...there are no guarantees that price must always reach
its target points...doesnt happen in the markets...locking in profits is a sure prudent way
of money mgt
[09:57:45 29/09/08] caprica1 : USDCHF! Stal you branching out into other pairs? lol
[09:59:10 29/09/08] Stalion : helloo takbal..
[10:00:51 29/09/08] takbal : hi guys
[10:01:13 29/09/08] Stalion : lol...just branching on pairs that has a more incisive
technical map,for now, gbpusd doesnt look like its having a high probability setup
[10:03:04 29/09/08] caprica1 : what about the USDJPY? Saw a 123 on the chart this morning.
[10:03:24 29/09/08] fxjedi : BAILOUT: is an American Goverment SCAMMMMMMMMMMM to steal US
tax payers dollar.....aholes
[10:05:03 29/09/08] Stalion : take it easy,jedi
[10:06:23 29/09/08] Stalion : Now cap, why are we putting a sell stop on the
usdchf?technical analysis wise?
[10:07:46 29/09/08] caprica1 : not sure. You got me on that one Stal.
[10:09:24 29/09/08] caprica1 : I'm trying to look for when the price was las at that level
maybe?
[10:14:52 29/09/08] klho83 : Hi Stal It failed stay above 61.8 ret. If it break 1.1017 pivot
(not sure) It wu go down. Correct if m wrong
[10:16:49 29/09/08] Stalion : no probs, cap...on the usdchf 1hr chart, price is around the
60% window or as K said, 61.8 level...price usually make a turnaround there..MACD was saying
negative convergence to price...
[10:18:15 29/09/08] Stalion : technical analysus wise, it should be at the region where we
should be seeing a bearish action..
[10:19:04 29/09/08] Stalion : but remember, guys, news has the potential to obviate it, if
it has a high enough impact
[10:19:05 29/09/08] caprica1 : how have you figured that out Stal?
[10:20:54 29/09/08] luminousfx : any trades on stallion?
[10:24:02 29/09/08] Stalion : welcome, luminous..no...not yet....just pending stops...
[10:25:46 29/09/08] luminousfx : what chart setups are we looking at Stall?
[10:30:33 29/09/08] Stalion : USDCHF, L...and also keeping an eye on GBPUSD..
[10:41:37 29/09/08] luminousfx : ok....
[11:39:26 29/09/08] Stalion : price steadily moving downwards on the USDCHF..
[11:41:32 29/09/08] caprica1 : Stal how did you do the 60% windows for the USDCHF price?
[12:04:47 29/09/08] takbal : caprica look at sep 19-22
[12:09:08 29/09/08] caprica1 : on which chart?
[14:10:17 29/09/08] takbal : caprica whatever chart you like... but there was an obvious
rally from the top of Sep 19 to the low of sep 22. Price is retracing since then, or at
least this is a possible interpretation
[14:10:47 29/09/08] takbal : and looks like it respected the 38% and the 50%, so it is
definitely guided by fib retracement levels
[14:30:47 29/09/08] caprica1 : 1st target hit on the USDCHF.
[14:31:27 29/09/08] caprica1 : half profits taken at +20
[14:55:01 29/09/08] Stalion : cool
[14:55:42 29/09/08] Stalion : [09:53:59 29/09/08] Stalion : Sell Stop on the USDCHF @
1.1017, 1st target @ 1.0995, 2nd target @ 1.0970
[14:56:49 29/09/08] Stalion : 2nd target hit..
[14:56:59 29/09/08] klho83 : All done:cheers:
[14:57:46 29/09/08] klho83 : Good Start for the week . Thanks Stal
[14:58:00 29/09/08] Stalion : lol...no probs,K
[14:58:22 29/09/08] Stalion : 3RD TARGET @ 1.0930
[15:13:47 29/09/08] caprica1 : finally. The site has been down for the last 10-15mins.
Luckly I stuck a 20 point TS on after the 2nd target hit.
[15:16:52 29/09/08] caprica1 : Nice start again to the week
[15:19:40 29/09/08] klho83 : 4th target?
[15:21:33 29/09/08] caprica1 : I changed my target to 1.900. Just hit it. I'm happy wth
those pips today
[15:22:09 29/09/08] caprica1 : +117 pips for a Monday. Nice work.
[19:56:30 29/09/08] takbal : bailout plan was refused in the senate as I read... 200 pips
change on eu in 10 minutes
[19:58:08 29/09/08] takbal : wall street practically collapsed
[19:58:42 29/09/08] takbal : Bill Pimco said on CNBC that the markets still pricing in some
kind of bailout package as otherwise the fall would have been even bigger
Conversations With Forexgreenland(The Matrix 4)
Helloo fellow traders,
I want to wish Nigeria a Happy Birthday(October 1ST,1960) as we observe our Independence
Day..One more road to cross..
[08:50:05 30/09/08] Stalion : morning everyone
[08:51:43 30/09/08] klho83 : hi stal
[08:55:23 30/09/08] caprica1 : mg
[08:55:59 30/09/08] Stalion : hope you are okay with the 87 pips we made yesterday...
[08:56:02 30/09/08] Stalion : on the USDCHF
[08:57:03 30/09/08] caprica1 : or more
[08:57:20 30/09/08] Stalion : or was it 117, cap?
[08:57:41 30/09/08] caprica1 : yep
[08:58:17 30/09/08] caprica1 : half profits at +20, then stuck a 20 point Trailing Stop on
at the 3rd target.
[08:58:28 30/09/08] klho83 : m happy with any + pips:)
[08:59:41 30/09/08] Stalion : lol
[09:05:21 30/09/08] caprica1 : which paris are you looking at today Stal?
[09:22:38 30/09/08] Stalion : both USDCHF and GBPUSD,cap...
[09:23:18 30/09/08] caprica1 : excellent
[09:23:57 30/09/08] Stalion : wasnt really too sure about cable yesterday,so I let it pass
and concetrated on dollar swiss...
[09:27:04 30/09/08] caprica1 : prob wise. cable and the EU have been very choppy the last
few weeks.
[09:29:09 30/09/08] enolase : hello Stallion
[09:37:37 30/09/08] Stalion : any news coming out on gbp?
[09:41:34 30/09/08] Stalion : we put a SELL STOP on USDCHF @ 1.0960...1st target @ 1.0935,
2nd target @ 1.0906, 3rd target @ 1.0874
[09:58:01 30/09/08] caprica1 : 40 pip stop?
.
[10:23:04 30/09/08] Stalion : yes cap...40 pip stop...
[10:26:36 30/09/08] Stalion : price is still dilly dallying around for now..
[10:29:30 30/09/08] caprica1 : ok no probs. Pending order in and waiting.
[12:16:43 30/09/08] Stalion :Buy Stop on USDCHF @ 1.1025, 1ST TARGET @ 1.1065... 40 pips
stop loss away...Take half profits after +20 pips.
[12:23:01 30/09/08] klho83 : Hi Stal typo error for new alert? USDCHF?
[12:23:43 30/09/08] Stalion : nope.....
[12:24:07 30/09/08] klho83 : usdjpy?
[
12:24:16 30/09/08] Stalion : its just a hedge,K...the sell stop is still in place..
[12:24:56 30/09/08] klho83 : Thanks
[12:25:02 30/09/08] Stalion : the buy stop allows us to take any bullish opportunities that
comes along if price continually goes up
[12:25:42 30/09/08] Stalion : remember a trader learns to look at both sides of the
coin...always think 2 steps ahead..
[12:28:42 30/09/08] caprica1 : did you mean USDCHF?
[12:29:25 30/09/08] klho83 : Sta l please confirm.
[12:29:45 30/09/08] Stalion : if I wrote USJPY, then it is a typo...am sorry for dat...but
the buy stop on USDCHF is not a typo, guys..
[12:31:27 30/09/08] Stalion : consider it a hedge trade....
[12:32:29 30/09/08] Stalion : if price goes bearish like we anticipated, our sell stop
triggers down..if it goes bullish, our buy stop triggers up..
[12:34:00 30/09/08] caprica1 : kool. Thought it was a typo because of the price you quoted
[12:58:05 30/09/08] enolase : please was that signal for USDCHF? the BuySTOp at 1.1025?
[13:04:55 30/09/08] takbal : went long of GU...
[13:13:19 30/09/08] takbal : banks and companies are playing with trillions of virtual
money. If the virtual money disappears, they need real one, and fast...
[13:16:43 30/09/08] enolase : anyway, President George Bush is scheduled tospeak on the
Bailout plan in
[13:17:08 30/09/08] enolase : 30 mins
[13:17:49 30/09/08] enolase : i think this will have a lot of implications for the USD
[13:18:50 30/09/08] enolase : what says the house?
[13:34:23 30/09/08] enolase : considering that the issues bordering on the bail out plan in
the US has had a heavy hand on the USD pairs and the JPY crosses, what will be the impact of
George Bush's speech coming up in 15 minutes on these pairs?
[13:36:47 30/09/08] enolase : the USd has started to gain broadly
[13:37:55 30/09/08] caprica1 : anyone else had the long USDCHF triggered?
[13:38:30 30/09/08] enolase : yes i had ot
[13:38:41 30/09/08] enolase : i am up 14 pips right now
[13:39:26 30/09/08] enolase : i think George Bush's speech may be an impetus to boost the
USD
[13:40:39 30/09/08] enolase : i'll ride the USD
[13:41:31 30/09/08] klho83 : 1st 20pips
[13:41:52 30/09/08] caprica1 : the USD has been making little gains over the last few hours.
Just hope the price rise hasn't al;ready been factored in
[13:42:09 30/09/08] enolase : i hope so too
[13:42:31 30/09/08] enolase : at times the news is leaked out and before u know it, the move
has already occured
[13:45:51 30/09/08] takbal : whoa thats what I call a double bottom on GU...
[13:47:18 30/09/08] enolase : on which chart?
[13:48:01 30/09/08] enolase : i think it is better to wait a little before concluding that a
double bottom has indeed formed
[13:49:39 30/09/08] enolase : 1st target hit on USDCHF
[13:49:52 30/09/08] enolase : can this continue? seeing what is happening on the EURUSD, it
is possible
[14:47:21 30/09/08] caprica1 : USDCHF is starting to make it's way down to our sell stop
price now as well.
[14:53:50 30/09/08] caprica1 : correction, no its not!
[14:54:01 30/09/08] caprica1 : lol
[15:08:53 30/09/08] Stalion : lol....1st target hit on USDCHF?
[15:39:37 30/09/08] caprica1 : good call again today Stal.
[15:40:20 30/09/08] caprica1 : I would have put a Trailing Stop on the trade if I'd been
able to, but I'm at work so I dont have the same control over my trades. Just had to leave
it to hit target.
[15:40:35 30/09/08] caprica1 : still a successful trade though.
[17:24:41 30/09/08] enolase : well, somehow the trade went massively in ur direction. So
that's two wonderful trades this week.
Hello Mystikal,
Please take a look at the attached image and see if it is an example of a 1-2-3 top
formation.
you said 2 is an internediate low. please whats an intermediate low? also when do you know
that an uptrend or downtrend has come to an end?
Hi Onwukarisa,
Trust you to really ask those incisive questions,man...
Yes, the attached image is an example of a 1-203 top, which is a reversal signal foretelling
a bearish move to the downside..
An intermediate low can be taken in many context...timeframes...support and
resistance...even length of candlesticks...so in this context,2 was a minor low, while the
low of the bearish hammer before the doji, at the last support ,could stand as an
intermediate low.
We dont KNOW for sure when a downtrend or uptrend have come to an end...its all a game of
probabilities, in which you go for a high probability setup..Heck, if everyone knows when an
uptrend or downtrend has definately come to an end, picking of tops and bottoms would be
very easy and less risky.
Traders tend to use a ''confluence of events'' to determine whether a trend is over or
not...like the 1 on your chart...it is termed a ''shooting star'' candle, which portends a
bearish move turning its strings down south.wow..
Add that with MACD DIVERGENCE, and a convincing trendline break, it should be telling us a
story..
QUOTE=gmbert19]Hello Stallion
I wanted to ask you a few questions..
I recently began my endevaour into currency trading.
I am eager to learn the business and need some serious guidance.
Any recommendations books, mentorship
thanks for your time.Please advise
Hi gmbert,
Thanks for your mail...Well, the answer are on those charts, mon ami..You might also
consider going through Technical Analysis of the Financial Markets'' by J J Murphy, which
deals with classique trading patterns, The Candlestick Course by Steve Nison. that would
be nice for a start. Also go through this thread..whether reviews, conversations,
alerts,etc..there's always something educative you can pick out, especially when reading
through market conditions and reactions in live practical trading.
[10:42:27] Stalion : We put a SELL STOP on USDCHF @ 1.1145,1st target @ 1.1087,2nd target @
1.1045, 3rd target @ 1.1005..40 pip stops...take half profits at +20 pips while shifting sl
to entry...leaving the remaining lots to ride..
stallion@forexgreenland.com
Post #1 Serg Cherkashin wrote on Sep 29, 2008 at 9:16 AM
Hi Sylvester!
I want to ask you.
I have obligations of Japanese companies. They have very small revenue (percent).
What do I do for increase of revenue from these obligations?
How does revenue increase from these obligations?
Helloo there, Serg,
Sorry but it would be much clarifying if you could expantiate on your question... As in,
what kind of ''obligations"? Bonds..? Debentures...?Hybrid...? Can they be internationally traded in the global markets or just restricted to Japan? Are they any offshore laws in Japan regulating the modus operandi of the revenue generation in companies?
Just trying to put international law and trade in perspective since you are seem like a slav dealing in Japanese business territory...
Cool, Konf, the trend is your friend. And if the trend on those timeframes doesnt coincide,what do you do in that situation? you stay off?
[10:03:39 03/10/08] caprica1 : I believe it's NFP today as well, so things are a little
quiet at the moment.
[10:07:06 03/10/08] fxjedi : look like lull before storm,i think
[10:08:21 03/10/08] enolase : whatever the storm is, i prefer to watch it from the sidelines
[10:08:40 03/10/08] enolase : we could possibly see some funny retracements whatever the
initial price action
[10:09:28 03/10/08] caprica1 : I dont like trading at all on NFP day, so it might be the
start of a long weekend for me
[10:11:26 03/10/08] Stalion : seems almost every trader's had the creeps during NFP
day...sometimes sounds like Black Friday with all its volatility and whipsaws...
[10:30:22 03/10/08] fxjedi : whatever happen, I believe the market is going down...seem
inevidble...the market around the world are horrible. ///TP DJIA 9611 and thats being
conservitive...
[10:31:32 03/10/08] albashir : gm all
[10:34:51 03/10/08] Stalion : helloo there albashir..
[10:37:44 03/10/08] fxjedi : Trading takes time, patience and effort. Trading is simple but
not easy. You must learn how to identify quality trades and become disciplined to take only
those quality trades. Until next time, may most ofl your trades be green and your losses
small.
[10:43:06 03/10/08] albashir : hey stal mornin 2 u...
[10:46:05 03/10/08] masif1 : morning all
[10:46:14 03/10/08] masif1 : by the way stal
[10:46:35 03/10/08] masif1 : we had two stop outs yesterday and one target hit
[10:46:50 03/10/08] Stalion : morning al...morning masif....welcome to White Friday...
[10:48:54 03/10/08] Stalion : depends on how you you look at it,al....and your reaction to
the report..
[10:49:03 03/10/08] albashir : salaam masif, Jumah Mubarak..
[10:50:52 03/10/08] masif1 : jumah mubarak brother
[10:52:49 03/10/08] albashir : well long b4 i came to know of ur lovely but unavoidable
tread/blog...... i use to trade NFP using hedging mtd....mostly profitable until i cld not
put a SL and PT due to network.....and funny me..... i got drained out.
[10:53:52 03/10/08] albashir : now I'm saving some of my family upkeep allowance to get back
on track...it used to be the only news I trade.
[10:59:13 03/10/08] Stalion : hmmmmm...
[11:05:13 03/10/08] Stalion : sell stop on gbpusd @ 1.7660, 1st target @ 1.7603...40 pip
stop away..
[11:09:25 03/10/08] albashir : ok..copy dat..
[11:10:22 03/10/08] Stalion : take half profits after +20 pips ...
[11:22:05 03/10/08] masif1 : stal are the short on usd/chf still valid - or can i delete the
orders
[11:22:19 03/10/08] albashir : did anyone get triggered?
[11:23:57 03/10/08] albashir : yea,....mine is still pending lyk masif's 2....do we keep it
or delete it?
[12:30:21 03/10/08] caprica1 : looks like its triggered now
[12:32:47 03/10/08] masif1 : its triggered
[12:40:27 03/10/08] albashir : its triggerd but fluctuatin.....
[12:42:01 03/10/08] caprica1 : it's triggered now Al. It's best to just leave it alone, and
not stare at the screen reacting to every little movement.
[12:47:19 03/10/08] caprica1 : it'll drive you crazy man. Just have a quick look every 15M
thas enough.
[13:22:24 03/10/08] takbal : NFP is out in 7 minutes... if you stay in, you ar practically
gambling
[13:34:27 03/10/08] Stalion : helloo guys..
[13:38:45 03/10/08] Stalion : unemployment rate was the same...non farm payroll was -159k,
which was lower dan expectations...the actual was lower dan the forecast, which was
unfavourable to the US...
[13:40:41 03/10/08] Stalion : price made a low of 1.7629, which was 31 pips...taking off
half profits at +20 pips and shifting sl to entry would have guaranteed some pippy in the
kitty...
[13:59:29 03/10/08] albashir : it hit d SL....but available to reenter.
[14:00:13 03/10/08] albashir : was unavailable to reenter
[14:20:23 03/10/08] Stalion : you would have made more than 100 pips if you had reentered
with a 25 pip trailing stop loss, albashir..
[14:33:10 03/10/08] caprica1 : Dont worry bout it I didn't even trade. I stuck to my guns
and didn't trade the NFP day.
[14:44:01 03/10/08] Stalion : didnt you make any money from that call, albashir?
[14:45:55 03/10/08] albashir : none bro....d 40pip SL was hit while away and cld nt
reenter....
[14:46:58 03/10/08] albashir : can't even place any order wt dis situation.......wld hold on
a while but wld be on demo for the tym
[14:47:19 03/10/08] Stalion : and you didnt take off some profits while it was 30 pips in
your favour?
[14:48:52 03/10/08] klho83 : Hi Stal
[14:50:25 03/10/08] albashir : wat u say...
[14:51:52 03/10/08] caprica1 : its moved back up towards the entry point again. Why not put
a limit order in for the .7660
[14:54:14 03/10/08] Stalion : helloo there, K
[14:54:21 03/10/08] masif1 : damn what happened went to pray jumma come back and we goit
stopped out
[14:56:03 03/10/08] Stalion : you didnt follow the risk mgt rules, masif...
[14:56:36 03/10/08] masif1 : ok
[14:58:04 03/10/08] Stalion : you have to understand that the market is like life
itself...ever flowing..ever moving...not waiting for anyone...if you see your opportunity to
make money, you LOCK IN
[14:58:29 03/10/08] Stalion : profits...because price would always continue moving..whether
we are there or not..
[14:59:55 03/10/08] Stalion : in this time of volatility in the markets, traders dont find
it prudent to set and forget...coz anything can happen in a second...dats why trading
discipline ,dedication and patience are necessary if you want to succeed..
[15:00:02 03/10/08] masif1 : ok
[15:01:32 03/10/08] Stalion : the potential to make 105 pips was presented on
reentry....based on our trade alert...I made 84 pips before my trailing stop was hit...
[15:01:47 03/10/08] masif1 : was away from the desk
[15:04:32 03/10/08] caprica1 : would you recommend re-entering again now Stal? MACD is
showing a positive divergance though.
[15:14:32 03/10/08] masif1 : hi guys
[15:14:57 03/10/08] masif1 : culd have made money on both short and long today
[15:15:05 03/10/08] caprica1 : no I didn't enter it in time Stal
[15:15:26 03/10/08] Stalion : not yet,cap....
[15:19:34 03/10/08] caprica1 : kool
[15:25:05 03/10/08] Stalion : price going up again...
[15:26:56 03/10/08] Stalion : if you had reentered back at our original entry call, it would
have been an uncomfortable ride by now..
[15:27:13 03/10/08] caprica1 : gud job i didn't then! lol
[15:28:16 03/10/08] masif1 : lol
[15:28:40 03/10/08] albashir : ok stal...aaf a long position on gu....wat do u say?
[15:35:27 03/10/08] albashir : stal ....
[15:42:45 03/10/08] masif1 : somethings boosted GBP!
[15:43:14 03/10/08] masif1 : its shooting up big time
[15:43:46 03/10/08] masif1 : i feel like singing the national anthem
[16:11:03 03/10/08] caprica1 : your not all alone mate. I'm here for a little bit now! lol
[16:17:14 03/10/08] masif1 : lol
[16:17:30 03/10/08] masif1 : shame i'm not trading
[16:20:52 03/10/08] caprica1 : lol. How goes it dude?
[16:26:05 03/10/08] albashir : Alhadu llah....came out with 120pips longing GU
[10:25:11] Stalion : We put a BUY STOP ON GBPUSD @ 1.7605...1st target @ 1.7655.. 2nd target @ 1.7685, 3rd target @ 1.7715
40 pip stop loss..
[08:56:29 06/10/08] Stalion : helloo everyone..
[09:00:20 06/10/08] Stalion : not much news with the major pairs today except CAD and Au..
[09:03:17 06/10/08] Stalion : hope you'all had a wonderful weekend...
[09:04:12 06/10/08] klho83 : Hope have a good start today:D
price is about breaking new lows ,
[09:24:22 06/10/08] klho83 : breaking new lows?
[09:25:38 06/10/08] Stalion : gbpusd
[10:24:57 06/10/08] masif1 : morning all
[10:25:11 06/10/08] Stalion : We put a BUY STOP ON GBPUSD @ 1.7605...1st target @ 1.7655..40
pip sto loss..
[10:26:40 06/10/08] Stalion : hi masif
[10:28:12 06/10/08] Stalion : 2nd target @ 1.7685, 3rd target @ 1.7715
[11:08:38 06/10/08] Stalion : range trading monday...due to lack of high impact news..
[11:38:34 06/10/08] Stalion : buy stop triggered..
[12:22:07 06/10/08] fxjedi : Long term trends rarely reverse quickly & markets often
over-shoot & tease convictions with counter moves over a period of time prior to making any
sustained turn.. Reacting to market warning signs with good risk adjusted analytics is an
integral part of all long & medium term strategic play.. Since all of us are only transient
player in a never ending game where major tops & bottoms are only evident in hindsight, one
should be content with placing the right bets on part of a move instead of kicking our
behind over all those "lost pips" looking at the charts afterward..
[12:30:51 06/10/08] fxjedi : but mine havnt trigered,Stal,since you said to put 3 pip spread
on top of bid prices,should i still leave pending order?
[12:34:40 06/10/08] Stalion : no probs...jedi...forgot to add the 3 pip spreads on
cable...so the pending buy still stands,ok...
[12:36:23 06/10/08] fxjedi : roger dat
[12:42:48 06/10/08] masif1 : dont worry fxjedi - its a good thing u havent triggered, as i
think its about to hit our s/
[12:53:44 06/10/08] takbal : hi guys
[12:53:49 06/10/08] fxjedi : seems stal is right about market on range trading,not much
movement from wat i can see
[12:55:56 06/10/08] fxjedi : hey takbal
[13:01:55 06/10/08] fxjedi : so my buy stop is waiting to triger at 17608
[13:03:38 06/10/08] fxjedi : triger is hit
[13:04:41 06/10/08] Stalion : nice one,jedi.....for those dat got stopped,pls reenter
[13:12:55 06/10/08] Stalion : remember to take off half profits when +20 pips ahead as price
is going ahead in our favour...then adjust sl to entry
[13:16:34 06/10/08] fxjedi : wow,look at gu fly!!!
[13:18:05 06/10/08] Stalion : put a 25 pip trailing stop on it now...
[13:18:47 06/10/08] fxjedi : any 3rd target,Stal?
[13:19:32 06/10/08] fxjedi : almost 10 pips to 2nd taget 17655
[13:20:26 06/10/08] Stalion : [10:28:12 06/10/08] Stalion : 2nd target @ 1.7685, 3rd target @ 1.7715
ImageShack - Hosting :: gbpubb6.gif
[14:49:22 06/10/08] masif1 : damn damn damn damn damn
[14:49:27 06/10/08] masif1 : got stopped out
[14:49:49 06/10/08] masif1 : didnt get a chance to out the triling sl in
[14:53:22 06/10/08] masif1 : put the trailing sl
[15:18:33 06/10/08] masif1 : whats happened to gbp
[15:18:45 06/10/08] masif1 : going down down down
[16:10:09 06/10/08] klho83 : Bad Start. Stopped out!
Helloo batangas,
Lets take a good look at this chart and generate some insights here...
1.7839-1.7513=0.0326
0.3*0.0326=0.00978
1.7513+0.00978=1.7610 (30% sell window)
1
That is the region where price turned around and went further bearish on the downside. You
take the high price of the current move and subtract it from the low of the current move.
The low is the price made just before the market began to trade higher against the
prevailing downtrend.
As soon as the market establishes an intermediate low and starts to trade higher from this
low, subtract the high (the high price at the begining of the prevailing trend prior to this
intermediate low) from the low.This will equal the total price range of the original
move...0.0326
Multiplying the range by 30% and adding it to the low foretells the begining of the 30% sell
window.
But I could hear some of you say''Hey, didnt he talk about price having a high probability
of a turnaround at the 60% window? Why 30%''
''Using 60%retracement for buy and sell windows is an excellent technique for most
markets.However when the trend in a market is extremely strong, the market will begin to
make small and quck corrections that usually last three to five bars in intraday trading.
The stronger the market, the shorter the correction time period. These strongly trending
markets will normally see the market retrace to around 30% of the original move. This level
still offers some very good reversal signals.'' John Crane - Advanced Swing Trading..
So my anticipation of price reaching the 60% sell window was wrong due to the strongly
trending move on the GBPUSD.It got round the 30% window and thats more it could chew before
going back down.
ImageShack - Hosting :: gbpusou3.gif
By our extrapolation, we could see price on the GBPUSD reaching a low of 1.7264..
So for a good entry, we could either sell now or wait for price to finish its upward retracement and break the support in line with the prevailing downtrend to our next low or support at 1.7264.
Since our analysis was taken from the hourly chart(1 hr), it might take sometime before we reach our target.
[09:55:34 07/10/08] didi : hello everyone
[10:51:28 07/10/08] masif1 : hello
[11:03:41 07/10/08] Stalion : helloo everyone..
[11:06:18 07/10/08] masif1 : hi stal
[11:06:34 07/10/08] masif1 : how u doing bro?
[11:57:09 07/10/08] fxjedi : hello masif
[12:05:27 07/10/08] caprica1 : you there dude?
[12:51:46 07/10/08] fxjedi : Stal, we missed yesterday gu drop and it went close to 200
pips
[12:51:47 07/10/08] caprica1 : how is everyone?
[12:53:14 07/10/08] Stalion : cool
[12:56:10 07/10/08] Stalion : i saw that,jedi....went short at the 2nd support level
@1.7455...
[12:57:15 07/10/08] Stalion : price on the gbp is going up to 1.7515 before turning around
[13:50:00 07/10/08] Stalion : we put a sell stop on gbpusd @ 1.7483...1st target @
1.7455...2nd target @ 1.7425...
[13:50:43 07/10/08] fxjedi : sl?
[13:52:37 07/10/08] Stalion : 1.7545 as stop loss
[13:53:35 07/10/08] fxjedi : okay
[14:14:28 07/10/08] Stalion : price on cable has breached the 60% sell window...so we should
be seeing a turnaround in the downside..
[14:15:34 07/10/08] Stalion : if the opposite occurs, as in ,a sustained uptrend, that means
a new trend forming..
[14:16:36 07/10/08] Stalion : the one we are watching now on the 15th minute, is a
retracement...
[14:18:20 07/10/08] Stalion : if it continues going up, a new trend...an uptrend,..is
formed..
[14:20:41 07/10/08] fxjedi : if i get you right, stal, do you mean we are retracing?
[14:25:55 07/10/08] Stalion : yes, jedi....if you look at price now, we are @
1.7546...technically, we are around the level where the retracement is over,with an
intermediate high, then resuming its prevailing downtrend
[14:30:03 07/10/08] Stalion : but if the uptrend is sustained, and breaks the next
resistance high
[14:32:05 07/10/08] Stalion : we see opportunity for a counter trend
[14:46:41 07/10/08] Stalion : whats the name of the spike up there,cap...the high...
[14:51:48 07/10/08] klho83 : Hi Stal , the trade signal still valid?
[14:55:32 07/10/08] Stalion : yes it is , K...do you have an answer to our question,K?
[14:58:38 07/10/08] caprica1 : sorry Stal got logged out again.
[15:03:15 07/10/08] Stalion : we could adjust our sell stop upward to 1.7565...1st target @
1.7530...2nd target @ 1.7440....
[15:04:08 07/10/08] Stalion : no probs....so whats d name of the candlestick high on the
gbpusd 15min chart
[15:05:13 07/10/08] caprica1 : shooting Star?
[15:07:29 07/10/08] caprica1 : or an inverted hammer
[15:09:12 07/10/08] Stalion : shooting star
[15:13:57 07/10/08] caprica1 : I was right first time! lol
[15:14:10 07/10/08] caprica1 : that is a reversal bar as well?
[15:20:26 07/10/08] fxjedi : but stal , what if the trend continue going up?
[15:22:10 07/10/08] klho83 : now triple tops
[15:22:54 07/10/08] Stalion : cool, K
[15:23:59 07/10/08] Stalion : but remember the current high has broken and pierced through
the two previous high region
[15:24:52 07/10/08] caprica1 : still got yesterdays high to break through to confirm an up
trend continuation for me
[15:25:11 07/10/08] klho83 : Is dat going to to breakout? Stal
[15:28:09 07/10/08] caprica1 : a triple touch of a price level would class it as resistance.
[15:28:28 07/10/08] Stalion : What is MACD saying on the 1hr and 15 min charts?
[15:29:55 07/10/08] caprica1 : GU has lost some of its momentum from the up move earlier on.
[15:31:03 07/10/08] klho83 : 1H MACD has crossed zero line in +ve zone
[15:31:22 07/10/08] fxjedi : do you mean divergence, stallion?
[15:32:00 07/10/08] klho83 : +ve divergence
[15:33:49 07/10/08] Stalion : yes, on the 1 hr chart..
[15:35:47 07/10/08] klho83 : On 15mins it looks a bit tired
[15:36:23 07/10/08] Stalion : using a demand(resistance trendline) from the current top of
price and a line on the top of MACD, we could see bearish negative dgence to price
[15:38:53 07/10/08] klho83 : On 15mins chart?
[15:39:11 07/10/08] Stalion : remember, guys...the 15min tends to act faster than the
hourly...so I guess a slight downward movement might take place before 1hr divergence kicks
in on thee upside..
[15:45:57 07/10/08] Stalion : can we see gu dropping it like its hot??presently @ 1.7564
[15:53:58 07/10/08] fxjedi : it going back up
[16:00:22 07/10/08] fxjedi : it is true theres is so much money in the system but it looks
like bankers are keeping it under their own matteress !!! this is strange. They borrow money
from the central banks, and put it back with them ...That way they are sure not to lose too
much !!!!
[16:11:27 07/10/08] fxjedi : i reentered,stal,
[19:10:47 07/10/08] albashir : been away all day...did u guys haf a trade call today?
[19:58:40 07/10/08] Stalion : so we made 125 pips, less 40 pips...which is a net profit of
*5 minilot,$850 standard lot on gbpusd..
[08:45:22 09/10/08] klho83 : hi stal and cap
[09:18:32 09/10/08] fxjedi : stal,i made almost 100 pips yesterday from gu call,if not my
trailing stop got stopped out,lol,
[09:32:38 09/10/08] Stalion : bUY gbpusd @ 1.7328, 1st target @ 1.7377...2nd target @ 1.7435
[09:42:05 09/10/08] argunes : Hi everyone
[09:42:07 09/10/08] Stalion : stop loss @ 1.7250
[09:42:27 09/10/08] Stalion : hi argunes
[09:46:05 09/10/08] fxjedi : helloo
[09:48:29 09/10/08] Stalion : for those dat didnt get the alert, just scroll up and you'll
see it..
[09:49:04 09/10/08] argunes : Stalion, I see a resistance GBP/USD at 1.7340, what do you
think about it?
[09:49:43 09/10/08] fxjedi : UK Rate Cuts Come At A Cost -Seymour Pierce: The impact of the
synchronized interest rate cuts Wednesday should not be judged too quickly, says Amit Thakar
at Seymour Pierce. "It will take time, irrespective of the asset markets' instant reaction.
Whilst we do not anticipate another coordinated move, we believe the UK, US and the European
monetary authorities will ease by another 50bps before the end of the year," he says. Adds
however, there will be costs associated with such moves, particularly in the UK. "The UK
public finances will move from a perilous state to almost unsustainable state at
structurally 5% of GDP," says Thakar.
[09:53:20 09/10/08] Stalion : a lot, argunes...
[09:53:56 09/10/08] Stalion : b4 I say anything....what does wilmart and cap think about it?
[09:54:08 09/10/08] Stalion : and jedi..
[09:57:37 09/10/08] fxjedi : umm,maybe resistance can be broken above that 17340 level?
[09:59:43 09/10/08] argunes : i see next resistance levels are 1.7400 and 1.7460 GBP/USD
[10:00:05 09/10/08] Stalion : yes, jedi...there's a good possibility price might break dat
resistance..
[10:00:29 09/10/08] wilmart : Stal abt wat?
[10:00:43 09/10/08] argunes : and it looks like 1.7430 is vulnerable GBP/USD
[10:01:18 09/10/08] Stalion : if you check your 15min chart, argunes, you could also notice
a 1-2-3 bottom, in which the 2 level has already been breached..and MACD positive divergence
to price
[10:02:09 09/10/08] argunes : Thanks Stalion. I see.
[10:02:11 09/10/08] Stalion : also a trendline break to confirm bullish move....
[10:02:44 09/10/08] Stalion : if there are no unexepected or high impact news, price would
follow technical analysis...
[10:04:12 09/10/08] fxjedi : yes, stal,its there all right
[10:06:57 09/10/08] fxjedi : but dont you think the stop at 17250 is kind of high?
[10:09:26 09/10/08] masif1 : just got picjed up the alert
[10:09:40 09/10/08] masif1 : placed the order and its just triggered
[10:10:43 09/10/08] Stalion : yes it is,jedi....from our entry point, dats like a 78 pip
risk...
[10:10:47 09/10/08] Stalion : hi masif
[10:10:58 09/10/08] masif1 : hi stal
[10:11:40 09/10/08] Stalion : going for a total of 107 pip reward
[10:11:52 09/10/08] Stalion : up to our 2nd target
[10:13:39 09/10/08] Stalion : the reason was dat we get stopped out more when we stick to a
rigid 40 pip stop loss...but by taking cognizance of support and resistance levels, we can
use dat as our exit points or stop loss levels...though with much wider risk
[10:17:38 09/10/08] Stalion : did anyone see the 1-2-3 bottom?
[10:18:53 09/10/08] caprica1 : back. Just had to take a shower
[10:18:56 09/10/08] wilmart : yeah
[10:19:09 09/10/08] argunes : I see it.
[10:20:22 09/10/08] fxjedi : me too,stal,but isnt therr a posibility gu might go down
instead of up?
[10:21:32 09/10/08] caprica1 : you know I saw the 123. I couldn't find them at first, but
all I can see now are 123's lol
[10:24:05 09/10/08] masif1 : 123!!!!
[10:24:07 09/10/08] masif1 : lol
[10:24:26 09/10/08] Stalion : might go up or down, jedi...nothing is 100% in this
business...we follow our trading plan
[10:24:46 09/10/08] fxjedi : abc's!!
[10:30:02 09/10/08] Stalion : we wud've gotten stopped out by dat spike down if we used a 40
pip sl...since price went to a low of 1.7289...
[10:30:14 09/10/08] albashir : peace be unto u all.....
[10:31:26 09/10/08] Stalion : but by putting our sl below low or support of the previous
grid/pychological number, we avoided being stopped out...so guys, wat wud you prefer?
[10:32:14 09/10/08] Stalion : a 40 pip sl and getting stopped out more often but reaching ur
targets...or a wider sl based on support and resistance, with wider risk...if stopped out..
[10:32:21 09/10/08] Stalion : hi albashir..
[10:32:33 09/10/08] wilmart : Cool all,its valid
[10:32:34 09/10/08] caprica1 : I think the wider stop, based on the current market
conditions
[10:33:52 09/10/08] wilmart : Get prepared to make some pips
[10:35:24 09/10/08] fxjedi : but whatabout equity,stal,what if stop loss is higher than 5%
of trade,what to do?
[10:35:30 09/10/08] Stalion : what do you think, argunes?
[10:35:32 09/10/08] Stalion : To Be or Not To Be???
[10:37:34 09/10/08] argunes : It's to be I think. Market volatility is high nowadays. For
our best interest putting stop loss orders to support levels are a must.
[10:38:13 09/10/08] caprica1 : you could always adjust your lot sizes FX to compensate
[10:40:58 09/10/08] masif1 : wider stop stal
[10:41:10 09/10/08] masif1 : this is something i've always raved on about
[10:41:23 09/10/08] argunes : But as Stalion said if we don't want to be stopped too early
putting 10-20 pips below support levels are wiser move.
[10:42:02 09/10/08] masif1 : this is what i've done
[10:42:11 09/10/08] masif1 : the first target is 40pips profit
[10:42:23 09/10/08] Stalion : nice move, masif...
[10:42:29 09/10/08] masif1 : so i've put an order for target as the second target
[10:42:42 09/10/08] masif1 : and put a 40pips trailing s/l
[10:43:28 09/10/08] fxjedi : but we have not yet gone onto first target!
[10:43:40 09/10/08] masif1 : i know
[10:44:00 09/10/08] masif1 : my sl is at 17250
[10:50:17 09/10/08] Stalion : since EURUSD and GBPUSD tends to move together, most of the
time, it would also be a nice idea to keep an eye out on euro dollar..its on a topping
formation now...looking to go down...which is also influencing cable..
[10:53:31 09/10/08] caprica1 : isn't that a hammer bar on the cable 15M chart?
[10:53:47 09/10/08] Stalion : and dats one of the main reasons price is dilly dallying
around our entry @ 1.7328...trying to decide whether to follow its own technical bias(long)
or play tag with EURUSD(short)...To Be Or Not To Be....lol..
[10:59:57 09/10/08] Stalion : 7 more pips to our 1st target of 1.7377...7 lucky
number...lol..
[11:01:04 09/10/08] caprica1 : should I be taking half profits now at +20?
[11:01:57 09/10/08] argunes : Hourly cable RSI has passed 50 and it's a good bullish sign
[11:02:04 09/10/08] Stalion : yes, please do....market volatility doesnt care whether you
lock in profits or not...it just moves..
[11:02:17 09/10/08] caprica1 : kool
[11:02:46 09/10/08] caprica1 : keep stop where it is?
[11:04:27 09/10/08] Stalion : take half or one third profits when +20 pips ahead..the move
stop loss to entry..
[11:05:12 09/10/08] Stalion : we shouldnt allow greed of the reward(target) to hinder us
from proper risk mgt...
[11:14:14 09/10/08] argunes : Guys I gotta go. Have a nice trading day.
[11:22:40 09/10/08] caprica1 : stopped out on the adjusted stop loss, but closed half lot at
+20
[11:27:23 09/10/08] wilmart : Its more safe to exit now
[11:31:55 09/10/08] Stalion : 1st target hit @ 1.7377
[11:34:32 09/10/08] Stalion : where price made a high of 1.7378...then went back down...hope
you now see the reasoning behind locking your profits when you get the chance..
[11:35:34 09/10/08] Stalion : standby for reentry if you were stopped out at the prearranged
profit of +20 pips..
[11:39:36 09/10/08] fxjedi : i c
[11:41:13 09/10/08] caprica1 : kool
[11:42:49 09/10/08] caprica1 : at what price? The same as before?
[11:52:18 09/10/08] Stalion : yea....cap...at the original buy order..
[11:54:37 09/10/08] caprica1 : ok
[12:33:56 09/10/08] klho83 : Set 1st target and back to my pc hour later. Found firrt target
hit. But SL at 1.7250 just hit
[12:39:38 09/10/08] Stalion : we could see a double 123 bottom whammy forming...the second
one should breach our 1st target at 1.7377 again, for the double whammy to be confirmed..
[12:39:48 09/10/08] caprica1 : just missed re-entry by a few pips. So put a buy limit in
place
[12:40:00 09/10/08] klho83 : After hit the fisrt target. Price went down to exactly 17250
and took my SL
[12:44:49 09/10/08] klho83 : 75% set at 1st target. 25% set at 2nd target. I didn't change
the SL
[12:46:39 09/10/08] caprica1 : my re-entry limit triggered, back in an waiting for another
+20 to close half lot.
[12:50:54 09/10/08] caprica1 : +20 half lot closed again
[12:58:22 09/10/08] klho83 : congra! cap
[13:02:18 09/10/08] klho83 : going in again?
[13:03:08 09/10/08] caprica1 : ntopped out just yet
[13:03:41 09/10/08] caprica1 : now it has! lol
[13:05:26 09/10/08] klho83 : M in too!
[13:24:23 09/10/08] klho83 : target 17400
[13:44:49 09/10/08] klho83 : +20pips .all flat
[13:54:14 09/10/08] masif1 : nice nice chicken and rice
[13:54:29 09/10/08] masif1 : taken 20 pips again