- 09-16-2008, 05:56 #21
[10:49:19] Stalion : LOCK HALF PROFITS AT +20 TO +30 PIPS,WHILE PUTTING STOP LOSS TO ENTRY
[11:00:00] caprica1 : jot back Stal. Whats this about a sell stop?
[11:02:18] Stalion : more of a sell limit, cap..if you missed the original entry and hope for price to go up to ur entry before
reaching down...a sell stop is just following price downwards on its bearish move
[11:06:17] caprica1 : whcih chart did you look at to get the signal Stal? Was it one of the longer timeframes?
[11:08:51] Stalion : looks like a colourful beer carnival, eugen, the oktoberfest u guys are celebrating in
Germany.....though more mellow than the ones in the Rio de janeiro, Brazil..
[11:10:21] Stalion : we do what we call ''top down trading'', cap..first, the weekly and daily charts to get a general
overview..the hourly is to get the medium term overview..the 15 min chart is where you get a more precise view...while
the 5 min is for microscopic view
[11:11:20] Stalion : hi takbal, hope you've locked in half your profits by now...
[11:11:53] Stalion : we are +40 pips now..
[11:13:15] caprica1 : ok
[11:13:47] takbal : well I get on the train a bit late, so I put half lot only
[11:14:08] takbal : but looks like a healthy downtrend, so I risk it
[11:21:01] Stalion : sl moved to entry point,AFTER creaming off half profits
[11:23:33] caprica1 : I go in @ .7970 so I'm + 23 now.
[12:15:28] caprica1 : I'm +53 now Stal. Should I be moving my stop to Breakeven or +20?
[12:18:40] caprica1 : whoops thats 1st target hit
[12:24:12] caprica1 : its looking like a nice start to the week guys
[12:25:47] Stalion : you can say dat again, cap
[12:27:23] caprica1 : how much lower can it go, It's nearly at 2nd target now?
[12:47:22] eugen3000 : 1st and 2nd target hit, wooohoooo, ;-)
[12:48:43] caprica1 : yep!
[12:55:00] klho83 : Good start For the week!!!
[12:55:33] caprica1 : certainly is.
[12:55:51] takbal : was a nice call, thx Stal
[13:10:01] Stalion : 95 pips for 1st target, 182 pips total for 2nd target,$182 minilot,$1820 standard lot in less than 4hrs
[13:10:30] masif1 : another great call i missed today
[13:10:36] masif1 : just my luck
[13:11:17] Stalion : like I said earlier, we should be prepared to take any opportunity that the market gives us...which
doesnt happen everyday..
[13:14:46] Stalion : fine, we might get stopped out on one or two trades...but thats the price to pay for a long pip haul
[13:17:08] Stalion : so we wrap up our trade today
[13:18:01] Stalion : hope 182 pips is okay for everyone?
[13:21:23] caprica1 : i'm happy with today Stal
[13:21:39] masif1 : well done guysforexgreenland dot com
- 09-17-2008, 02:11 #22
We give glory to God for He is Great. To know which part of the chart or graph that you choose as a 1-2-3 bottom or
top requires practice and patience. We could say it hides from most traders that are not aware of its pattern on the
graphs and on the other hand, reveals itself regularly to some that are familiar with its occurence on the charts.
If you observe the Eurodollar(EURUSD) chart on the 15th of September, we could see the 1-2-3 top being numbered.
The 1 is always the swing high at the peak or apex...2 is an intermediate low and 3 is a lower high that failed to retest the
1 level(swing high).
At the break of the 2 level, it confirms the downward/ bearish movement of price and also validates the concept of the
A 1-2-3 top is usually seen at the end of an uptrend, while a 1-2-3 bottom is usually seen at the end of a downtrend.
Hope you now understand...
Please feel free to ask questions or make comments...
[QUOTE]Originally posted by zero:
[QB] IS FOREXGREENLAND POSTING THOSE TRADE CALLS
BEFORE OR AS HE MAKES THE TRADES OR IS HE
POSTING TRADES THAT HAVE ALREADY MYSTERIOUSLY
RUN THEIR COURSE?
CUZ POSTING TRADE CALLS AFTER THE FACT ISNT
VERY IMPRESSIVE AT ALL. I HOPE THAT IS NOT
WHAT YOU ARE DOING. CUZ I'LL BE ALL OVER YOU
LIKE STINK ON A TURD. MAY GOD HAVE MERCY ON
YOUR SOUL IF THATS YOUR GAME.
''Mysteriously run their course? What do you think this is, zero? A mystery moovie? Wake up and smell the roses without
stinking, mon ami...
Those participants you read on the chats are real live traders from different parts of the world who are serious about
making money in forex trading. They earn and learn while those trade calls are made,real time, online and the only game
they are interested in playing is forex.
Need I say more???
MAY THE GOOD LORD HAVE MERCY ON US ALL..
Originally posted by rodney:
[QB] The world financial system is in a mess with prospects of the global credit bubble bursting according to many
credible pundits. We will explore why bubbles form and why they burst from an Austrian Economics perspective. We
will also explore why cash and cash equivalent in times of deflation - yes, I said deflation - is your best asset hedge
against the bubble bursting. We will also cover specific trading ideas to win in this globalization 3.0 era, and how to
preserve capital and profit.Why will be the role of gold and silver ? T.Bonds? Dollar index, etc. Will the major and
regional banks in US lose $2 trillion in capital as forecast by a famous NYU Economist?
[URL=http://foreclosures.gov-auctions.org]Foreclosed Homes[URL] [/QB]
But dont you think holding cash or its equivalent might not really be an hedge coz of its declining
value(depreciation)against market forces?
And how does the Austrian Economic perspective on cyclical trends(bubbles and bursts) fit in with the much larger EU
perspective of the same phenoma?forexgreenland dot com
09-19-2008, 21:38 #23
[09:06:15 19/09/08] Stalion : hi everyone
[09:12:05 19/09/08] Stalion : we saw what happened yesterday, guys...price eventually got to our targets but with some
nasty retracements in the way...
[09:15:55 19/09/08] caprica1 : its been a rough few weeks though on the markets
[09:17:17 19/09/08] klho83 : Hi Stal Gu coming to 61.8% ret.level
[09:22:34 19/09/08] Stalion : lol....the market knows it going to drop some serious pips..thats why the awkward
retracements to shake off stops and limits..
[09:25:10 19/09/08] masif1 : i think the usd is weakening
[09:28:55 19/09/08] Stalion : any upcoming news on GBP?
[09:29:16 19/09/08] caprica1 : not sure
[09:34:21 19/09/08] eugen3000 : Stal, the trend line from 1.7446 is not yet broken to the downside right?
[09:34:24 19/09/08] Stalion : the currency markets is still digesting all the bad news coming out from the US financial
markets..bailouts today, bankruptcy 2morow...any wonder d charts are reflecting these signs of the times..
[09:44:25 19/09/08] Stalion : 1.7446, eugen?i think dats like 500 pips below market price?
[09:48:23 19/09/08] eugen3000 : i mean the trendline this was the lowest price and i see a trendline going up and hold for few times
[09:53:30 19/09/08] eugen3000 : i am the only one seeing this? lol
[09:58:11 19/09/08] Stalion : lol....what chart are u looking at,eugen?
[10:01:33 19/09/08] eugen3000 : im at work im just using the one from mb trading
[10:01:49 19/09/08] eugen3000 : i saw that price bounced of this trendline a few times
[10:02:53 19/09/08] Stalion : looks like the news didnt make much impact..
[10:19:04 19/09/08] Stalion : at what timeframe, eugen?
[10:24:30 19/09/08] eugen3000 : 1hr
[10:26:20 19/09/08] Stalion : ohh, av seen it...dat was the low on sept 11,right?
[10:27:13 19/09/08] Stalion : did anyone reenter the gu short again?.
[10:46:48 19/09/08] eugen3000 : stal do you have some key levels for gu? up and down levels? thnx
[10:58:59 19/09/08] Stalion : we also put a buy stop on gu at 1.7997, 1st target on the upside is 1.8055..dat would act
as an hedge
[12:00:16 19/09/08] Stalion : looks like the turnaround is right round the corner,guys...
[12:01:47 19/09/08] Stalion : buy stop trigger hit...
[12:02:56 19/09/08] Stalion : remember 1st target to the upside is 1.8055..
[12:05:53 19/09/08] Stalion : 33 pips profits right now...lock in ur profits right now, guys, and shift sl to entry level..
[12:09:53 19/09/08] eugen3000 : 40 pips im happy, thnx Stal
[12:10:16 19/09/08] Stalion : 20 pips to go in hitting 1st target of 1.8055...2nd target for our long gu trade is 1.8073...
[12:12:05 19/09/08] Stalion : dat was jus the practical application of the 60% buy window..
[12:13:33 19/09/08] Stalion : price is now retracing back to the 50% level...
[12:14:38 19/09/08] takbal : looks like a DeMark breakout...
[12:15:12 19/09/08] takbal : at least the upward move stopped exactly at the predicted target
[12:17:53 19/09/08] Stalion : what TIMEFRAME are u looking at,takbal?
[12:18:15 19/09/08] takbal : 5 mins
[12:18:28 19/09/08] takbal : well, the upper trendline is a more plausible explanation...
[12:19:57 19/09/08] Stalion : i could see a mini 123 bottom in the 5 min chart before price broke out..
[12:21:04 19/09/08] Stalion : it paused at 1.8040, which was a round number and a pyschological one too,before going
back south to the 50th percent level..
[12:25:41 19/09/08] takbal : I see the 123 but not sure about it will pass that trendline around 18030-40... it looks quite
[12:29:22 19/09/08] Stalion : depends on the bullish momentum, takbal...if you open ur MACD indicator on the 5 min
chart, you can see MACD making higher highs and price on top making lower lows based on the resistance
trendline..thats shows divergence..we are seeing MACD positive divergence to price which foretells a bullish
[12:30:37 19/09/08] Stalion : resistance trendline about to be broken..
[12:40:05 19/09/08] masif1 : hi stal locked in 30 pips at half lot
[12:41:51 19/09/08] takbal : but MACD already did its higher high... ho do you know that it wont retrace now, and
cross the trendline?
[12:43:26 19/09/08] takbal : if price falls now, we are still in divergence, but the trendline is unbroken... it may be broken
at the next test
[12:56:35 19/09/08] klho83 : hi
[12:58:25 19/09/08] caprica1 : hi guys just got in front of the PC and seen the trade. mine is
[12:59:05 19/09/08] caprica1 : at +26 pips as of now. I must have missed the earlier high.
[12:59:34 19/09/08] Stalion : lol....welcome to the show,cap
[13:01:15 19/09/08] caprica1 : thank you. It's at +39 now. I'm only trading witha lot size of 0.1 though.
[13:01:52 19/09/08] klho83 : Wat is the next target stal?
[13:02:16 19/09/08] caprica1 : correction make that+58. What should I do based on my lot size STal?
[13:02:34 19/09/08] klho83 : Ist target hit
[13:03:34 19/09/08] caprica1 : hit 2nd target and closed out at +73
[13:03:52 19/09/08] takbal : 8072 is daily support
[13:04:49 19/09/08] Stalion : 2nd target coming up
[13:05:31 19/09/08] eugen3000 : 3rd target Stal??? ;-)
[13:05:54 19/09/08] Stalion : 2nd target is at 1.8130...3rd target @ 1.8198
[13:07:39 19/09/08] Stalion : if ur not in from our first entry, pls consider ur risk to reward ratios before jumping for 2nd
and 3rd targets...
[13:08:28 19/09/08] Stalion : dose dat were in right from the start would be using up their remaing half lots now, while
adjusting stop loss to entry
[13:09:08 19/09/08] caprica1 : thought the 2nd target was 1.8055 and 3rd was 1.8073?
[13:09:15 19/09/08] Stalion : hold on to ur seatbelts, fellas...we might be in for a lil ride..
[13:09:41 19/09/08] caprica1 : a lil ride in what sense Stal?
[13:10:15 19/09/08] Stalion : sorry..typo....2nd target 18073...3rd target 18130...4th target 18198
[13:11:20 19/09/08] Stalion : jus put in a 15 to 25 pip trailing stop wen we get to 2nd target...
[13:12:12 19/09/08] caprica1 : I got back in at the second target of 1.8073.
[13:13:13 19/09/08] Stalion : or adjust sl 20 pips above original entry...which ever feels best for you..
[13:19:09 19/09/08] caprica1 : Like I said though I made the 73 pips on the first 2 targets. Didn't get the 3rd or 4th ones
in time. I re-entered at the 2nd target price of 1.8073.
[13:19:22 19/09/08] caprica1 : What should I place my stop as?
[13:23:36 19/09/08] caprica1 : 1've put the stop @ the original entry point of 1.7997
[13:28:15 19/09/08] klho83 : I'm out at 1.8070. Thanks stal.n have a nice weekend all.
[13:28:54 19/09/08] caprica1 : you too klho
[13:28:57 19/09/08] eugen3000 : lock in lock in lock in ;-)
[13:34:08 19/09/08] caprica1 : you still in the trade eugen?
[13:37:21 19/09/08] caprica1 : it's flying again
[13:37:29 19/09/08] eugen3000 : no i closed half at +20, the rest by 8073, im flat
[13:37:43 19/09/08] eugen3000 : good luck cap
[13:40:11 19/09/08] takbal : are we some kind of fighter pilots?
[13:40:31 19/09/08] takbal : Fox 3
[13:41:16 19/09/08] caprica1 : locked on! lol
[13:54:53 19/09/08] caprica1 : looking like another nice end to the week
[13:57:57 19/09/08] Stalion : 3rd target hit!!
[13:59:05 19/09/08] Stalion : 4th target @ 18198....
[14:01:48 19/09/08] caprica1 : I've moved my stop to entry and closed out 50% of my lot size now on the re-entry that I
[14:02:01 19/09/08] Stalion : 5th target @ 1.8230
[14:02:56 19/09/08] caprica1 : 5th target! Oh man, I'm loving this Friday lol
[14:08:52 19/09/08] caprica1 : I'm well happy at that. I dont't expect that every time, but it's a nice start, and shows me
I'm on the right track.
[14:12:10 19/09/08] Stalion : more than 137 pips made up from our 2nd target of 1.8130...and still counting..
[14:14:35 19/09/08] caprica1 : I would agree. Over 400 pips from a very choppy week.
[14:25:42 19/09/08] Stalion : 4th target hit!
[14:25:51 19/09/08] caprica1 : just hit 4th target
[14:25:56 19/09/08] Stalion : [14:02:01] Stalion : 5th target @ 1.8230
[14:26:24 19/09/08] Stalion : 5th target hit!!
[14:26:42 19/09/08] caprica1 : where should I move my stop to now Stal? It's currently at b/e, and I have closed out half
[14:26:47 19/09/08] Stalion : 1.8271 as our 6th target
[14:27:05 19/09/08] caprica1 : never mind5 targets hit. Man oh man!!!!!
[14:27:22 19/09/08] Stalion : jus put a 25 pip trailing stop loss and you'll be fine like dandy
[14:27:30 19/09/08] caprica1 : I'm out now. Not gonna chance getting back in a 2nd time
[14:28:10 19/09/08] Stalion : dats what am doing...jus watching price move and locking my profits..
[14:28:55 19/09/08] caprica1 : I'd hit 5th target before the 6th was posted.
[14:29:06 19/09/08] caprica1 : Am still a happy little bunny though.
[14:29:37 19/09/08] caprica1 : I've almost hit my target of 155.00 for EJ. That would be 300 pips for that trade alone.
[14:30:19 19/09/08] caprica1 : woohoo, just hit it.
[14:32:12 19/09/08] Stalion : lol
[14:33:07 19/09/08] caprica1 : if only you could see me now! Feel like walking out of work, and going home a happy man.forexgreenland dot com
09-21-2008, 23:02 #24
Sell stop on GBPUSD @ 1.8321...1st target @ 1.8275,2nd target @ 1.8245, 3rd target @ 1.8207forexgreenland dot com
09-22-2008, 18:54 #25
Conversations With Forexgreenland (The Matrix Pt 1)
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
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
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
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..forexgreenland dot com
09-26-2008, 00:14 #26
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
[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
[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
forexgreenland dot com
09-30-2008, 09:46 #27
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
[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
[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
[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 biggerforexgreenland dot com
10-01-2008, 22:41 #28
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.
Originally Posted by 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..
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
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..
firstname.lastname@example.org dot com
10-04-2008, 13:42 #29
Post #1 Serg Cherkashin wrote on Sep 29, 2008 at 9:16 AM
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...
Konf;73665 At me strategy simple, I go on a trend, I put stop loss. The trend during
a week, day and 3hour should coincide.
[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
[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
[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
[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
[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
[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
[13:22:24 03/10/08] takbal : NFP is out in 7 minutes... if you stay in, you ar practically
[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
[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
[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
[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
[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 GUforexgreenland dot com
10-06-2008, 09:44 #30
[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..forexgreenland dot com
10-06-2008, 22:45 #31
[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
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!
Originally posted by batangas:
[qb] Wow, how far down can this British lettuce go (now at 1.7370)? [/qb]
Lets take a good look at this chart and generate some insights here...
1.7513+0.00978=1.7610 (30% sell window)
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
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
Multiplying the range by 30% and adding it to the low foretells the begining of the 30% sell
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.forexgreenland dot com
10-08-2008, 13:20 #32
[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
[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
[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
[14:18:20 07/10/08] Stalion : if it continues going up, a new trend...an uptrend,..is
[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
[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
[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..forexgreenland dot com
10-09-2008, 09:04 #33
[21:50:35 07/10/08] forexplay : Hello Is anyone there
[08:54:06 08/10/08] masif1 : hello
[08:55:01 08/10/08] caprica1 : morning everyone
[10:19:03 08/10/08] Stalion : price made a triple bottom on our 60% buy window and SPOOF
[10:19:35 08/10/08] Stalion : IT GOES...
[10:23:13 08/10/08] klho83 : Hi Stal!
[10:36:51 08/10/08] Stalion : helloo there K
[10:37:23 08/10/08] caprica1 : hi Stal
[10:37:34 08/10/08] Stalion : what are we having now on the GBPUSD 15min chart? A
retracement or a trend?
[10:38:37 08/10/08] caprica1 : a retracement
[10:39:51 08/10/08] Stalion : everywhere so silent....
[10:40:20 08/10/08] Stalion : K?
[10:40:44 08/10/08] Stalion : remember to tell us ur reasons, guys?
[10:42:01 08/10/08] Stalion : c'mmon...K...you can do it...talk to papi
[10:42:58 08/10/08] klho83 : GU weak
[10:43:24 08/10/08] caprica1 : it's still contained with the previous swing high and swing
[10:46:05 08/10/08] Stalion : yea, K....but is it a trend or a retracement?
[10:46:54 08/10/08] klho83 : It treanding down
[10:47:19 08/10/08] klho83 : Trend Sir!
[10:47:23 08/10/08] caprica1 : the overall trend o the GU is down
[10:49:01 08/10/08] klho83 : If look at $H or daily chart GU is trending down
[10:49:22 08/10/08] klho83 : 4H od daily
[10:50:02 08/10/08] Stalion : Both are right....it was a retracement at that time cap was
watching ...though wanted to ask him at what percent of the ''containment'' should the
previous swing high differ from the previous swing low
[10:51:37 08/10/08] Stalion : it had to breach a percentage of the containment a la
caprica...in order to tell us there's a change of retracement to trend
[10:52:33 08/10/08] Stalion : or in some cases, trend to retracement
[10:56:41 08/10/08] klho83 : Hi Stal, Can U explain " Containment"?
[10:58:14 08/10/08] caprica1 : think it he means it that price was contained within the
previous swing high and swing low K
[10:58:34 08/10/08] caprica1 : Soit would have had to breach the swing low to confirm the
down trend continuation
[11:00:08 08/10/08] Stalion : voila
[11:00:33 08/10/08] caprica1 : see I have learnt something! lol
[11:01:45 08/10/08] Stalion : hope you understand,K
[11:04:21 08/10/08] caprica1 : I sent you a PM about the buy and sell windows Stal. You get
[11:04:41 08/10/08] masif1 : i dont understand
[11:05:16 08/10/08] masif1 : the british government is to bailout the UK banks with £50
[11:05:26 08/10/08] masif1 : but cable is still dropping
[11:05:29 08/10/08] Stalion : remember most times, we look for a breach of the pyschological
number/grid below or above the 60% retracement level to confirm establishment of a new
trend...in this case, a downtrend
[11:59:22 08/10/08] fxjedi : ECB Unlikely To Join Coordinated Cuton't count on a
coordinated rate cut, says Calyon. "Doubts have to remain over the ECB's commitment to such
a plan," the bank says, suggesting that monetary policy, like the various money market and
banking sector policy changes, "will remain local in origin and scope."
[12:43:46 08/10/08] fxjedi :
[12:44:07 08/10/08] fxjedi : WASHINGTON - The Federal Reserve, acting in coordination with
other global central banking authorities, cut a key U.S. interest rate by half a percentage
point Wednesday to steady a teetering economy. ADVERTISEMENT The Fed reduced its key rate
from 2 percent to 1.5 percent. In Europe, which also has been hard hit by the financial
crisis, the Bank of England cut its rate by half a point to 4.5 percent, while the European
Central Bank sliced its rate to 3.75 percent. Other central banks also taking part include
the banks of Canada, Sweden, and Switzerland.
[12:45:37 08/10/08] fxjedi : if everyone is cutting rates,i wudnt think there wud be any
reaction in the markets,stal
[14:38:13 08/10/08] Stalion : Sell Stop on the gbpusd @ 1.7390, 1st target @ 1.7355, 2nd
target @ 1.7305, 40 pip sl
[14:57:21 08/10/08] Stalion : 10 pips to go
[15:02:20 08/10/08] Stalion : breaching the two grids/pyschological number levels
below,signifies price retracement turning to a new downtrend..
[15:06:01 08/10/08] Stalion : many traders also wait for the major low/support to be
breached before confirming a new downtrend on the bearish side..
[15:10:09 08/10/08] Stalion : take half profits now, if you havent done so already
[15:10:25 08/10/08] fxjedi : hi
[15:13:51 08/10/08] Stalion : helloo argunes,jedi
[15:14:57 08/10/08] argunes : I've jsut entered and I see its amazing so many experienced
traders sharing information
[15:15:05 08/10/08] Stalion : thanx, man....How is Instabul?
[15:15:34 08/10/08] argunes : Rainy nowadays.
[15:16:18 08/10/08] Stalion : same here in Lagos...
[15:16:27 08/10/08] argunes : May I ask what time is it on your location?
[15:17:06 08/10/08] Stalion : Its 3.16pm here
[15:17:10 08/10/08] Stalion : urs?
[15:17:51 08/10/08] argunes : 17.17 here.
[15:18:53 08/10/08] Stalion : 2hr ahead
[15:20:02 08/10/08] argunes : Yes. I need to leave. Good trading everyone.
[15:28:20 08/10/08] Stalion : thanks argunes
[15:28:57 08/10/08] Stalion : 1st target hit
[15:36:47 08/10/08] Stalion : whats DKK,jedi?
[15:37:31 08/10/08] fxjedi : BOE especially, but also ECB have plenty of room to cut rates
further. Unfortunately the stock markets will need to drop further to spur them into action.
Paulson urged this move because his wife has urging him to stay home this weekend and once
take a weekend free without a rescue operation.
[15:38:19 08/10/08] fxjedi : am not realy sure,am jus sharing forex news,stal
[15:48:35 08/10/08] fxjedi : looks gu is going down again to next target,stal
[16:00:53 08/10/08] fxjedi : Japanese Nobel Physics laureate Toshihide Maskawa, an introvert
devoted to thinking about the universe, has no passport to go to Stockholm to accept the
prize, his wife revealed on
[16:08:50 08/10/08] Stalion : please put a 15 to 25 pip trailing stop on it
[16:11:09 08/10/08] fxjedi : roger dat
[16:16:31 08/10/08] fxjedi : 2nd target hit
[16:21:10 08/10/08] Stalion : lol...dats nice....a trailing stop will ensure you follow
price to its lowest before cutting you out..
[16:27:49 08/10/08] fxjedi : am thru for d day, stal,
[16:28:00 08/10/08] fxjedi : thanks a lot
Originally Posted by forexgreenlandforexgreenland dot com
10-09-2008, 21:24 #34
- Join Date
- Oct 2008
- Likes Received
- Rep Power
Really good info...
that was some good training...alittle long but good anyway.
I see a slight move south again tonight before a big push up on GBPJPY before the end of the year I plan on making about 50% profits on my account from the push upwards (that is if it happens...Im not loong yet).
the GBPJPY has fallen but it can give a little more before its year end climb. trust me it will not close this low and watch the dow it will have a nice recovery in Dec.1 - Dec. 20th the GBPJPY will follow the DOW. and I will make good money!
hope you all will too
now if it doesnt thats fine since Im waiting for my indicator to say LONG but when it does bet the farm baby!ManageMyForex.com
10-10-2008, 10:01 #35
[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
[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
[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
[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
[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
[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
[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
[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
[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
[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 againforexgreenland dot com
10-11-2008, 22:34 #36
Black Friday?Originally posted by Jarod:
[QB] For discharging toxic material all over the place.
See his email?
He is collecting admirers.
I wonder if anyone has sent him hate mails.
I'll come back tomorrow.
Here is my strategy for eurusd :
But only after the RESCUE PLAN is voted.
And after I have reached my target. [/qb]
Hey Jarod, you forgot to add ''I wanna have his nuts for breakfast''..
Hi ManageMyForex, thanks for the insightful contribution on the POUND YEN(GBPJPY)movement in
the weeks to come.Linking that currency pair with the Dow Jones seems like a carry
trade,which might be a nice idea.
Chartwise, we have already crossed the 60% BUY WINDOW to the downside, in which price might
likely reach a low of 161.11 or lower at the nearest support or low (1st August 2000). MACD
negative divergence to price foretold that beaish fall in price..Ohh, by the way, I'm
looking at the monthly GBPJPY timeframe on the chart.
Price has to close above the 189.35 buy window region before a bullish drive can be
251.09-61.74=189.35 (60% BUY WINDOW)
Since we are taking this off the monthly chart, we can liken it to POSITION TRADING..where
trading projections take weeks or months to fulfill..
So mon ami, a buy in the near future might be in order, under normal market conditions, but
dont really think ''betting the farm'' might be a prudent move.
Originally Posted by C
Thanks for your mail..You see, I apply the use of 1-2-3's, amongst other chart pattern
strategies, to define targets..Defining targets is no less important than defining
entries...and that where the 40 pip Stop Loss comes in..
It came in due to the fact that the average distance of a grid table is close to 40 pips.
But with recent market volatility, it is much more prudent to have wider stops that are more
than 40 pips when trading..
I'm sorry but am not aware of any factory's forum price action thread,C..so wouldnt say am
involved in posting there.
The chatroom is a subscription based service where traders earn and learn at the same
time.. Though the best things in life are free, but people rarely value them..
[08:13:05 10/10/08] alanlewis : morning wilmart.
[08:14:49 10/10/08] wilmart : Hey alan
[08:17:33 10/10/08] alanlewis : gbp/usd down low this morning!
[08:19:06 10/10/08] wilmart : There is not a valid signal for G/U now
[08:20:27 10/10/08] alanlewis : no, i think we might need to wait a while
[08:45:44 10/10/08] Stalion : Hi all
[08:46:23 10/10/08] wilmart : Good morning Stal
[08:49:22 10/10/08] Stalion : hope you all had a lovely night rest...
[08:50:20 10/10/08] fxjedi : i did,stal,made about 70 pips before gu started falling
[08:51:20 10/10/08] Stalion : cool
[08:57:49 10/10/08] fxjedi : NEW STOCK MARKET TERMS for 2008 and beyond. CEO --Chief
Embezzlement Officer. CFO-- Corporate Fraud Officer. BULL MARKET -- A random market movement
causing an investor to mistake himself for a financial genius. BEAR MARKET -- A 6 to 18
month period when the kids get no allowance, the wife gets no jewelry, and the husband gets
no sex. VALUE INVESTING -- The art of buying low and selling lower. P/E RATIO -- The
percentage of investors wetting their pants as the market keeps crashing. BROKER -- What my
broker has made me. STANDARD & POOR -- Your life in a nutshell. STOCK ANALYST -- Idiot who
just downgraded your stock. STOCK SPLIT -- When your ex-wife and her lawyer split your
assets equally between themselves. FINANCIAL PLANNER -- A guy whose phone has been
disconnected. MARKET CORRECTION -- The day after you buy stocks. CASH FLOW-- The movement
your money makes as it disappears down the toilet. YAHOO -- What you yell after selling it
to some poor sucker for $240 per share.
[08:58:16 10/10/08] fxjedi : WINDOWS -- What you jump out of when you're the sucker who
bought Yahoo @ $240 per share. INSTITUTIONAL INVESTOR -- Past year investor who's now locked
up in a nuthouse. PROFIT -- An archaic word no longer in use.
[08:58:59 10/10/08] Stalion : lol...ur funny, man
[09:13:30 10/10/08] masif1 : morning all
[09:13:38 10/10/08] masif1 : any calls this morning?
[09:13:44 10/10/08] masif1 : cable diving
[09:23:43 10/10/08] masif1 : lol fxjedi
[09:24:26 10/10/08] Stalion : helloo there masif
[09:25:47 10/10/08] masif1 : hi stal
[09:29:52 10/10/08] Stalion : any news on the gbp today?
[09:36:11 10/10/08] fxjedi : none today,stal,euro dollar came out positive though
[09:39:27 10/10/08] Stalion : okay then..
[09:40:02 10/10/08] fxjedi : After several years I have been warning about the conundrum
media-polticis-accountant creativity and greed - as also selling to the poor Joe's saving
plan the toxic debt.... I can affirm with almost 99pct correctness that today the Black
Friday has come... Yet the key Dow Jones support is some 20-30 pct lower imvho... might be
seen also in one day in current markets crazyness...might be in months...but It has to
normalize from excess greed and irrationality...
[10:04:34 10/10/08] fxjedi : are we going long or short today?
[10:05:46 10/10/08] Stalion : We put a buy stop on gbpusd @ 1.6960, 1st target @1.7008...2nd
target @ 1.7065...
[10:07:00 10/10/08] Stalion : stop loss @ 1.6830...take half or a third profits after +20
[10:11:26 10/10/08] fxjedi : ok,Stal
[10:15:59 10/10/08] fxjedi : looks like Black Friday
[10:17:20 10/10/08] masif1 : black fri?
[10:17:23 10/10/08] masif1 : thanks stal
[10:24:56 10/10/08] klho83 : Thanks stal! hope this is good one.
[10:43:34 10/10/08] Stalion : in the event price gets to the bearish side, we also hedge our
trade with a sell stop @ 1.6868, 1st target @ 1.6825, 2nd target @ 1.6745, 3rd target @
[10:44:23 10/10/08] Stalion : stop loss 1.7010...
[10:44:48 10/10/08] Stalion : so we are having 2 pending orders in place...
[10:46:50 10/10/08] fxjedi : looks gu wants to take a dive?
[12:21:43 10/10/08] masif1 : buy triggered
[12:21:55 10/10/08] masif1 : trailing s/l at 25pips
[12:39:12 10/10/08] masif1 : ok made 25pips
[12:39:25 10/10/08] masif1 : put a reentry in for another 25 pips
[12:43:33 10/10/08] caprica1 : afternoon masif. you ok dude?
[13:23:50 10/10/08] Stalion : 1st target hit twice...
[13:24:19 10/10/08] Stalion : [10:05:46 10/10/08] Stalion : We put a buy stop on gbpusd @
1.6960, 1st target @1.7008...2nd target @ 1.7065...
[13:24:40 10/10/08] Stalion : 3rd target @ 1.7155
[15:13:15 10/10/08] masif1 : reenetered at 17065
[15:13:37 10/10/08] masif1 : trailing at 55pips s/l now
[15:14:47 10/10/08] masif1 : thats 80pips profit today - more to come
[15:14:55 10/10/08] masif1 : and 60pips yesterday!
[15:15:46 10/10/08] masif1 : trailing at 75pips now
[15:16:03 10/10/08] masif1 : so that 100pips bagged todayforexgreenland dot com
10-14-2008, 14:49 #37
The Chance card denotes a period in which taking risks may produce positive results. This
doesn't mean head off to a casino with your life's savings! What is suggested is that you
should make gains by taking a well calculated risk. For the power of Chance to be fully
realized it is essential that you pick your risk carefully, move forward with conviction,
and above all else don't get greedy!
But the thing is you didnt put any entries...mon ami...That is the most delicate part of
it..at any timeframe... TIMING OF THE ENTRY...because at the time you post it(6.01 PM
EST?)yesterday, you would have been stopped out from the downward bearish hammer spike..
So concetrate on your entries...especially in this time of market volatility..
[09:33:40 13/10/08] Stalion : hi all
[09:37:13 13/10/08] wilmart : Gm stal
[09:39:24 13/10/08] klho83 : hi stal
[10:05:10 13/10/08] fxjedi : i made close to 100 pips last friday from your call,but am
still wondering why you call it black friday?
[10:09:05 13/10/08] Stalion : lol..jedi....someone..or was it you...mentioned Black Friday
earlier on...so I just took up the joke...but glad we reached our 3rd targets though/../
[10:11:37 13/10/08] fxjedi : yes indeed
[10:13:07 13/10/08] fxjedi : The legacy of the current financial market carnage should be a
stronger JPY and weaker Euro and USD, says Standard Bank's Steve Barrow. The USD will be
hurt because the US banking model is broken and this will make overseas investors wary of
buying US assets they previously invested in. The Euro will lose out because the economic
and financial disruptions seen will cause immense political strain in the region. However,
Barrow says Japan is an entirely different kettle of fish, it had its banking crisis some
time ago and as a result its financial markets are in much better shape. Unwinding of carry
trades, already being seen, will also continue. So for USD/JPY Barrow can see 90.0, possibly
80.0, while EUR/JPY slides toward 110.00.
[10:16:15 13/10/08] fxjedi : Commodity currencies are unlikely to rise even if global risk
appetite starts to recover, as it has early Monday.
[10:16:35 13/10/08] fxjedi : As events over the last two weeks have shown, the outlook for
the global economy is deteriorating rapidly - ensuring that commodity prices will remain
weak and that support for the currencies of Australia, New Zealand and Canada continues to
fall. "Commodity producers are the most vulnerable," said Paul Robson, foreign exchange
strategist with The Royal Bank of Scotland in London. "Markets are now pricing in
expectations of a deep recession," said Geoffrey Yu, a senior currency strategist at UBS in
Zurich as equity markets took another steep tumble, wiping as much as 40% from the value of
major stock markets since their highs in August 2007. Last week, as official attempts to
halt the credit crisis failed and risk aversion rose to its highest level in nearly 11
years, the arch-commodity currency, Australian dollar, was trashed. At one stage, it
collapsed nearly 20% against the yen, the currency seen as the prime safe haven in these
troubled times. The Australian economy itself was hardly providing any help.
[10:16:59 13/10/08] fxjedi : Not only has the Reserve Bank of Australia led the way for a
recent coordinated cut in global interest rates, by slashing its key rates by 100 basis
points, but the Australian stock market was diving too. Friday, prices fell 8.3%, the
largest fall since the crash of October 1987.
[10:17:09 13/10/08] wilmart : Stal,i really commend your effort
[10:17:47 13/10/08] Stalion : when are we going to see the end of all these bad news in the
[10:24:50 13/10/08] Stalion : We put a BUY STOP @ 1.7230, 1st target @ 1.7280..
[10:26:36 13/10/08] Stalion : sl 1.7168
[10:32:00 13/10/08] Stalion : we are seeing a 1-2-3 bottom formation, in which price have
already passed the number 2 mark...
[10:48:20 13/10/08] alanlewis : gpb/usd recovered well!
[10:49:24 13/10/08] fxjedi : that was a nasty spike down there early this morning,alanlewis
[10:50:30 13/10/08] alanlewis : i had a buy trade and got out before spikelucky!
[10:50:44 13/10/08] alanlewis : spike luckily.
[10:51:22 13/10/08] fxjedi : lol,lucky
[10:52:08 13/10/08] fxjedi : am not sure if the global crises is indeed feeding the markets
[10:52:39 13/10/08] fxjedi : The German government was on Monday preparing to endorse a bill
to restore liquidity and inject fresh capital in the country’s ailing banking and insurance
sector potentially worth up to €470bn – the biggest state intervention in the economy since
the end of the War.
[10:53:02 13/10/08] alanlewis : the media fuels the fear
[10:53:08 13/10/08] fxjedi : now, its like we cant talk about recession without referring to
[10:53:24 13/10/08] alanlewis : lol
[10:55:57 13/10/08] Stalion : our buy stop @ 1.7230 is about to get triggered..
[10:56:08 13/10/08] alanlewis : yep
[10:57:14 13/10/08] alanlewis : what targets do u have in mind stalion
[10:57:24 13/10/08] Stalion : based on our pattern we mentioned earlier...gbpusd might give
up a whole lotta pips ...
[11:05:53 13/10/08] fxjedi : Russia has fired three longe range missiles and declared its
nuclear deterrent strong
[11:06:57 13/10/08] alanlewis : any thoughts on gbp/chf, had a buy trade for 3 days up 500
pips or so where will it top out?
[11:07:02 13/10/08] fxjedi : Two of the missiles were fired from nuclear submarines in the
Asian and European extremes of the sprawling country while a third was watched by President
Dmitry Medvedev on land in northwest Russia
[11:10:17 13/10/08] fxjedi : A £516 trillion derivatives 'time-bomb'
[11:10:48 13/10/08] fxjedi : It's a market in which the lead protagonists – typically
aggressive, highly educated, and now wealthy young men – have flourished in the derivatives
boom. But it's a market that is set to come to a crashing halt – the Great Unwind has begun
[11:10:52 13/10/08] fxjedi : Not for nothing did US billionaire Warren Buffett call them the
real 'weapons of mass destruction'
[11:11:51 13/10/08] Stalion : hmmm....
[11:14:05 13/10/08] Stalion : under normal market conditions, alan, I think this is the time
to unwind ur gbpchf trade...price might turn around any time from now...
[11:15:16 13/10/08] Stalion : no particular directional movement for pairs due to lack of
[11:15:26 13/10/08] Stalion : low momentum monday
[11:15:50 13/10/08] Stalion : but buy pending order still stands
[11:18:47 13/10/08] Stalion : technically, both gbpjpy and gbpchf are supposed to be on a
topping pattern...only time will tell when they drop and unwind..but dey shud
[11:21:14 13/10/08] Stalion : be back for New York Session,guys..
[11:31:59 13/10/08] alanlewis : my buy stop just took off
[12:55:00 13/10/08] masif1 : well done guys
[12:55:08 13/10/08] masif1 : i could take this trade
[12:55:18 13/10/08] masif1 : but looks like some pips were made?
[13:31:12 13/10/08] fxjedi : yea...masif....+65 pips...not even counting our 25 pip trailing
[13:32:06 13/10/08] fxjedi : lol!
[13:32:45 13/10/08] fxjedi : hi klho83
[13:33:14 13/10/08] fxjedi : did you see gu shoot up??
[13:33:52 13/10/08] klho83 : didn't put trialing
[13:34:24 13/10/08] klho83 : up more than 100pips
[13:34:35 13/10/08] fxjedi : am 200 pips in profits
[13:36:05 13/10/08] klho83 : Great!
[13:40:07 13/10/08] Stalion : nice start of the week,K
[13:40:25 13/10/08] Stalion : did you make any money?
[13:42:11 13/10/08] klho83 : Thanks Stalion! Please work harder Smile
[13:43:15 13/10/08] Stalion : lol....sure will....
[13:43:35 13/10/08] masif1 : excellent
[13:43:46 13/10/08] masif1 : well done guys
[13:44:00 13/10/08] masif1 : put a trailing s/l and you'll be laughing!
[13:45:39 13/10/08] Stalion : 25 pip trailing stop is on....just waiting for price to stop
me out at a +180 profits
[13:46:12 13/10/08] Stalion : stopped out
[13:47:33 13/10/08] Stalion : Very Happy
[13:48:00 13/10/08] masif1 : excellent stal
[13:48:22 13/10/08] masif1 : i used a similar method on fridays call and made about 100 pips
[13:48:38 13/10/08] masif1 : but then got greedy and gave half of it back
[13:48:50 13/10/08] fxjedi : you did it again,stal
[13:50:28 13/10/08] Stalion : not me,jedi....its the market...
[13:51:10 13/10/08] albashir : hello all.....
[13:51:26 13/10/08] albashir : hi stal...u did well was out with 245pips
[14:00:15 13/10/08] fxjedi : i can go back to sleep a happy man,stal
[14:02:04 13/10/08] Stalion : lol
[14:03:26 13/10/08] Stalion : trading is finished here for today...since we've ended on a
positive note....we'll be back tommorrow..
[14:03:46 13/10/08] Stalion : please feel free to ask any questions or comments...
[14:04:52 13/10/08] klho83 : Today I m a happy man too See u tomorow
http://news.yahoo.com/s/ap/20081013/...re/wall_streetforexgreenland dot com
10-15-2008, 00:21 #38
[09:29:18 14/10/08] caprica1 : morning
[09:29:42 14/10/08] klho83 : Hi Cap gm
[09:43:39 14/10/08] caprica1 : how are you K?
[09:48:11 14/10/08] klho83 : m doing fine cap .Thanks. U missed yerterday trade?
[09:57:13 14/10/08] fxjedi : gm all
[10:02:40 14/10/08] Stalion : helloo everyone
[10:16:03 14/10/08] fxjedi : UK House Sales At Record Lows - RICS:
[10:16:21 14/10/08] fxjedi : The latest RICS house price survey released overnight
showed UK house sales in September fell to record lows, while the net balance of
surveyors reporting prices falling against rising was -84.2 compared with -81.8 in
August. It's difficult to tell if the data had any impact on sterling, however
GBP/USD has fallen in early Europe and now trades at 1.7440 from the day's high of
1.7547, while EUR/GBP is trading in the middle of its 0.7830-0.7794 day's range
[10:25:10 14/10/08] Stalion : BUY STOP ON GBP @ 1.7570...1ST TARGET @ 1.7610..2ND
TARGET @ 1.7648
[10:26:50 14/10/08] caprica1 : do your buy prices include your spreads Stal?
[10:27:08 14/10/08] Stalion : STOP LOSS @ 1.7505
[10:27:57 14/10/08] Stalion : no....please add spreads to price...2 or 3 pips...
[10:28:10 14/10/08] caprica1 : lol. Just checkinh
[10:32:10 14/10/08] Stalion : price looks to retracing down to 1.7470
[10:35:32 14/10/08] Stalion : the trend is still up,guys...in which the retracement
level is inside the uptrend...get it?
[10:36:32 14/10/08] Stalion : cool...
[10:43:53 14/10/08] Stalion : price diving down to the 1.7470 area...pardon the
[10:48:40 14/10/08] caprica1 : lol. None taken
[10:54:04 14/10/08] Stalion : so why do we see price dipping to that 1.7470 area?
[10:57:32 14/10/08] caprica1 : no sure. The high of yesterday was .7442
[10:58:51 14/10/08] Stalion : so??
[11:01:35 14/10/08] Stalion : for now..dats not the high to to be looking for...the
one at 1.7566 could be more productive really..soo, what were you thinking when you
mentioned the high of yesterday..especially in relation to that region?
[11:02:11 14/10/08] Stalion : masif??
[11:04:00 14/10/08] caprica1 : yesterday's high could act as support
[11:05:50 14/10/08] Stalion : helloo there takbal...
[11:06:04 14/10/08] takbal : hi all
[11:07:03 14/10/08] Stalion : yes, it sure could...but it might be more incisive if
we take the swing low at 1.7413 as major support..
[11:11:13 14/10/08] masif1 : hi stal
[11:13:45 14/10/08] caprica1 : yep
[11:34:57 14/10/08] Stalion : price making a counterattack to the bullish side
[11:39:17 14/10/08] caprica1 : yeah it's moving back up to the entry.
[11:44:41 14/10/08] Stalion : price needs to breach two resistance area before it
gets to our trigger..
[11:49:38 14/10/08] caprica1 : where are those areas
[11:55:46 14/10/08] Stalion : we are at the first area now..at 1.7550
[11:56:20 14/10/08] Stalion : 2nd area is 15 pips away at 1.7566
[11:56:53 14/10/08] Stalion : hi enolase
[11:57:03 14/10/08] enolase : hi
[11:58:29 14/10/08] Stalion : welcome aboard and fasten ur sealbelts...
[11:58:37 14/10/08] Stalion : seatbelts
[12:00:24 14/10/08] enolase : any orders yet?
[12:01:01 14/10/08] fxjedi : just imagin you just retired and 60 percent of your
portfolio in stocks....hmmm, I guess retirement is already over for some..No choice
but to keep working till death...The talking heads think this will extend, yeah
right....another selling opp if ya ask me...this world is headed for Revolations
spelled out in the Bible...And Im not even a religon activist....
[12:01:23 14/10/08] fxjedi : its up there enolase
[12:05:10 14/10/08] fxjedi : UK Gilts The UK government faces a £2B paper loss on
its investment in the country's banks - FT
[12:05:42 14/10/08] Stalion : BUY STOP TRIGGERED...
[12:07:46 14/10/08] fxjedi : whooppiieeee...!!
[12:09:54 14/10/08] Stalion : not so fast...
[12:10:49 14/10/08] enolase : my network is slow
[12:11:18 14/10/08] Stalion : starcomms?
[12:15:58 14/10/08] fxjedi : EUR/USD : The current expected trading ranges from the
monthly cycle projected series are 1.3390 // 1.3476* - 1.3562 - 1.3648 - 1.3734 -
1.3820* - 1.3906 - [1.3992]. A critical resistant point is positioning at 1.3749
[13:21:01 14/10/08] Stalion : please take half profits now as price is at
[13:25:17 14/10/08] Stalion : hi masif///
[13:27:05 14/10/08] Stalion : the recent high has been pierced right now....which
looks like a continuation of the uptrend
[13:28:49 14/10/08] Stalion : +40 pips...
[13:30:20 14/10/08] Stalion : 2nd target 1.7685
[13:30:51 14/10/08] Stalion : or just place a 15 to 25 pip trailing stop...
[13:32:01 14/10/08] enolase : just exited at 1.7624
[13:33:22 14/10/08] fxjedi : that was kinda fast,enolase
[13:33:39 14/10/08] enolase : i will look for a safe re-entry point
[13:34:58 14/10/08] enolase : with this my network i can't take no stupid chances
[13:36:10 14/10/08] enolase : Starcomms cost me badly last week Monday
[13:36:51 14/10/08] enolase : was in profit to the tune of $2000 at a point, then
just as I was about to place a trailing stop, my network disappeared (for the next
[13:37:44 14/10/08] enolase : and I ended up making only $800 from the trade (price
had retraced by the time i was able to get to a cafe where i had downloaded the MT4
[13:37:45 14/10/08] Stalion : why not use multilinks?
[13:39:01 14/10/08] Stalion : or better still...cobranet or swift networks...they
are broadband and very fast....see if dey are operating in ur area...jus 15 or 16k
per month...like starcomms
[13:41:27 14/10/08] masif1 : do u mean 3rd target 17685?
[13:44:41 14/10/08] Stalion : yes...masif.....3rd target @ 1.7685....
[14:45:48 14/10/08] Tpack : hi is this room active ?
[15:03:24 14/10/08] masif1 : we got stopped out on the way to 2nd target
[15:03:30 14/10/08] masif1 : damn something wrong with the chat box
[15:17:07 14/10/08] Tpack : hi masif1 is the chatbox playing up ?
[15:18:15 14/10/08] masif1 : i think so
[15:36:16 14/10/08] enolase : well, just logged back in to see that GU dropped like
it wqs hot
[15:36:45 14/10/08] enolase : looks like i made a wise choice taking what i was
able to get and scramming
[16:26:54 14/10/08] masif1 : yep got stopped out again
[16:27:07 14/10/08] masif1 : looks like gu going down down downforexgreenland dot com
10-16-2008, 00:04 #39
[10:17:01 15/10/08] fxjedi : hi all
[10:18:37 15/10/08] Tpack : hi fxjedi
[10:20:56 15/10/08] fxjedi : stalion sent a text alert, looks like he coudnt yet make it
[10:22:17 15/10/08] fxjedi : buy stop gu at 17467,1st target at 17509, 2nd target at 17535,
sl at 17421
[10:23:06 15/10/08] fxjedi : hi klho83
[10:23:10 15/10/08] klho83 : yup! got it. thanks
[10:23:28 15/10/08] klho83 : thanks fx
[10:23:29 15/10/08] fxjedi : did u get text?
[10:23:59 15/10/08] klho83 : yes
[10:24:06 15/10/08] fxjedi : ok
[10:25:59 15/10/08] fxjedi : hope we have another good trading day today
[10:39:23 15/10/08] Stalion : hi everyone..
[10:40:06 15/10/08] Stalion : sorry for being late today...had some problems with my
internet network...even the back up was down...
[10:41:03 15/10/08] fxjedi : hi stal
[10:41:48 15/10/08] Stalion : helloo there jedi..I seen you got my text alrite...
[10:42:38 15/10/08] fxjedi : sure did,
[10:44:07 15/10/08] Stalion : price on the GBPUSD steadily moving up to our 1st target of
1.7509..presently at 1.7500 as we speak..
[10:45:57 15/10/08] Stalion : hi tupac
[10:46:33 15/10/08] Tpack : Hi Stalion
[10:47:15 15/10/08] klho83 : Hi stal thanks for the text alert
[10:49:21 15/10/08] klho83 : TP 1 hit
[10:49:23 15/10/08] Stalion : no probs,K...part of the package,u know...I jus got back on
after some hours of internet disconnection...had to call my broker and ask for prices before
the text alert
[10:49:37 15/10/08] fxjedi : 1st taget hit
[10:50:14 15/10/08] Stalion : cool
[10:50:21 15/10/08] caprica1 : Hi Stal. How's it going ?
[10:50:31 15/10/08] Stalion : take profits, den shift stop loss to entry as usual...
[10:50:49 15/10/08] Stalion : helloo there cap
[10:52:01 15/10/08] Stalion : please dont wait until price retraces and clear out ur
profits....just take half profits now, den shift sl to entry...d remaining half is for 2nd
target or reentry
[10:53:24 15/10/08] Tpack : nice call stalion I can see the price projection from
17420-17495 and applied to the 17467 , was the trade a 60pct from the high of the17495 and
then the triger is the higher higs on the candles ?
[10:59:53 15/10/08] fxjedi : gu going for seconfd taget
[11:04:30 15/10/08] Stalion : cool...
[11:04:34 15/10/08] masif1 : did i miss the alert
[11:04:40 15/10/08] masif1 : first target alredy hit?
[11:05:41 15/10/08] Stalion : am not sure I understand your question,tupac...?
[11:06:11 15/10/08] Stalion : yes, masif....a lil late for the party..
[11:06:38 15/10/08] Stalion : but you can still go for 2nd target...though with more higher
[11:08:39 15/10/08] Tpack : Hi Stalion . I was just checking to see if I could figure where
you got the projection from and what was the trigger as price was meandering in and around
that area for a couple of areas what wass the trigger which made your decision ?
[11:08:58 15/10/08] Stalion : remember guys, once it gets to the 1.7525 region, you can put
in a a 15 to 25 pip trailing stop on the trade..since our sl is now at entry, we are
''playing with house money''..
[11:10:48 15/10/08] fxjedi : Always take three ‘vectors’ to understand a position, in order
to orientate a direction ‘of trade’.
[11:11:04 15/10/08] fxjedi : A fourth gives conformation
[11:11:17 15/10/08] fxjedi : It is a matter of certainty of a trade – or how stable you are
sitting on a seat with less than three or four legs
[11:11:30 15/10/08] fxjedi : Of course it all depends on what time scale you trade on – but
the longer charts cannot be ignored.
[11:11:46 15/10/08] fxjedi : Pips are where pips are for now
[11:13:43 15/10/08] Stalion : you could say any trigger on a trade wud be due to a
''confluence of events''...and intuition
[11:21:57 15/10/08] Stalion : 2nd target hit.....!!
[11:22:28 15/10/08] Stalion : 25 pip trailing stop locked on
[11:23:41 15/10/08] fxjedi : just made 68 pips , stal,
[11:23:55 15/10/08] fxjedi : thanks
[11:24:10 15/10/08] fxjedi : Very Happy
[11:24:55 15/10/08] Stalion : no probs...jedi...the market did it again..
[11:25:26 15/10/08] Stalion : and looks like its going for more pips..
[11:26:12 15/10/08] fxjedi : whooohoooo,
[11:27:33 15/10/08] fxjedi : The outlook for emerging-market currencies isn't particularly
positive, even if the appetite for risk continues to recover.
[11:31:55 15/10/08] fxjedi : Emerging-market currencies have managed to recoup some of their
recent losses as investors swallow their concerns and return to the markets, but they're
still likely to exercise a high degree of caution toward these risky units, analysts warn.
[11:32:16 15/10/08] Stalion : are you still in the GBPUSD trade, K?
[11:33:28 15/10/08] klho83 : 50% 1st Target .25% 2nd target last 25% trailinggggggggg
[11:33:36 15/10/08] masif1 : well done guys
[11:33:59 15/10/08] masif1 : so now your on a 25pips trailing s/l?
[11:34:22 15/10/08] klho83 : 30pips trail
[11:39:03 15/10/08] Stalion : you see, yesterday, if you'd use our standard risk mgt
principle, you would have been stopped out at ur entry while making +40 pips...
[11:40:53 15/10/08] Stalion : remember, the market is not the same like 6 months ago...lots
of volatility and bad financial news out there,.....so it wont be prudent if we always wait
for an extended rally or decline breakout,which doesnt occur all the time..
[11:41:13 15/10/08] Stalion : even enolase cut his profits yesterday and scrammed
[11:41:55 15/10/08] fxjedi : gu shhoting up,
[11:42:19 15/10/08] fxjedi : am 100 pips gain
[11:42:35 15/10/08] fxjedi : klho83, can you see that?
[11:43:02 15/10/08] klho83 : Hitting The Moom Smile
[11:44:07 15/10/08] Stalion : mama mia!!!!
[11:44:22 15/10/08] fxjedi : yeah!
[11:44:50 15/10/08] Stalion : santa maria!!!
[11:45:18 15/10/08] fxjedi : yea!
[11:45:35 15/10/08] fxjedi : LMAO
[11:46:17 15/10/08] fxjedi : Laughing My A** Out!
[11:47:07 15/10/08] masif1 : wheres klho?
[11:47:21 15/10/08] masif1 : well done guys
[11:47:37 15/10/08] klho83 : Still on the flight!
[11:48:04 15/10/08] fxjedi : lol
[11:48:32 15/10/08] fxjedi : rocket to moon?
[11:48:56 15/10/08] klho83 : Stal where can land?
[11:50:06 15/10/08] Stalion : dont be greedy,guys....we are ''playing with house money''
now...since our sl is at entry point...or 15 to 30 pips in trailing stop...
[11:51:08 15/10/08] Stalion : you can land when price retraces down to 30 pips..in
yourcase...ur trailing stop kicks in and ensures you get out at the farthest price can go in
[11:53:13 15/10/08] klho83 : out for 120pips
[11:53:46 15/10/08] Stalion : see it pause and retrace at the pychological number/grid at
[11:54:19 15/10/08] klho83 : yeap! round number
[11:54:31 15/10/08] Stalion : then retrace down to stop K at a 120 pip profit..
[11:56:25 15/10/08] fxjedi : sure,i got out at 128 pips,
[11:59:00 15/10/08] Stalion : We gotta learn to take trading seriously, masif...Trading is a
business and should be treated as such
[11:59:36 15/10/08] masif1 : noted
[11:59:55 15/10/08] fxjedi : with a 15 pip sl
[12:00:17 15/10/08] fxjedi : traillingsstop
[12:01:59 15/10/08] Stalion : cool
[12:07:32 15/10/08] Stalion : price retracing downwards...the bearish drive may continue to
1.7500 or lower
[12:08:43 15/10/08] Stalion : or just continue going up...
[12:09:30 15/10/08] Stalion : where do you think its going,K..?continue up or going down?
[12:12:17 15/10/08] Stalion : I've already sold, by the way
[12:12:20 15/10/08] fxjedi : down?
[12:12:55 15/10/08] Stalion : yes...jedi
[12:13:21 15/10/08] Stalion : but to how much distance?
[12:15:00 15/10/08] fxjedi : not sure,but maybe going down to previous support
[12:17:17 15/10/08] Stalion : cool
[12:18:51 15/10/08] Stalion : some made close to 130 pips in less than 3 hours today...
[12:19:54 15/10/08] Stalion : +128 pips, $128 minilot...$1280 standard lot on cable (GBPUSD)
[12:20:43 15/10/08] Stalion : hi there, eno
[12:21:11 15/10/08] Stalion : did you get the text alert?
[12:37:01 15/10/08] klho83 : Hi Stal just back to my PC. GU should go up futher. Resistance
level at 17630 ..?
[12:39:01 15/10/08] enolase : a very great call
[12:40:34 15/10/08] klho83 : MACD already shows sign of divergence..
[12:41:39 15/10/08] klho83 : wu retrace from there or lower..correct me stal ..if i'm
[12:56:08 15/10/08] masif1 : so who's on short on GU now?
[13:04:42 15/10/08] enolase : i actually set my target there
[13:27:32 15/10/08] enolase : GU formed a double top at 1.7570
[13:28:42 15/10/08] enolase : i checked my one hour chart and found that it made 1.7570
yesterday and today
[13:38:05 15/10/08] masif1 : so u went short on it as well?
[14:46:39 15/10/08] argunes : hi everyone! looks like i missed the fun.
[18:16:24 15/10/08] Stalion : yes you did, argunes....
[18:47:17 15/10/08] Stalion : [12:07:32 15/10/08] Stalion : price retracing downwards...the
bearish drive may continue to 1.7500 or lower
[18:47:41 15/10/08] Stalion : Price moved almost 300 pips below 1.7500
forexgreenland dot com
10-18-2008, 11:39 #40
Most traders tend to concentrate on pinpointing the perfect entry for a trade. However, in
reality the entry price is just one part of the equation. The common entry techniques are:
A trend trader will tend to use channel breakouts to enter trades in order to catch a trend
when it is beginning. The general rule is to pick a period length, which could be 20 days
for a long term trader or 15 minutes for a daytrader and buy if the high in that period is
broken or sell if the low is broken.
Visual Entry based on patterns
The art of technical analysis focuses on the many types of chart patterns that markets tend
to form. Such as gaps, spikes, inside days, outside days, triangles, flags and double tops
to name a few. These entries are rather more subjective than channel breakouts.
Prediction techniques include Elliott Wave, Gann and Dow Theory. Again the actual entry
price based on such theories is very subjective. Predictive techniques usually try to pin
point major turning points in markets and are therefore attempting to go against the current
trend rather than with it.
The theory behind a volatility breakout is that if the market makes a sudden move in a
particular direction then it is likely to continue in that direction. The general rule is to
add/subtract a pre-determined percentage of the recent average true range to the opening
price thus giving buy and sell points.
Take the average price of the last x periods (minutes, hours or days) and buy if the price
crosses above and sell if it crosses below. This technique works well in purely trending
markets but will be badly whipsawed in a range bound market. Variations include using 2 or
more moving averages and using the cross of those as a signal. The moving averages
themselves could be simple or weighted (more emphasise on the latest prices).
Oscillators and Stochastics
I.e. RSI, stochastics, Williams %R etc. Generally these tools are used to determine whether
the market is 'overbought' and ready to drop or 'oversold' and ready to rise. They work best
in range bound markets by picking tops and bottoms but fail in a trending market.
Since trading is more of an art than a science, its more of the interpretation of the chart
information that just calculations,Onwukarisa..Besides,like I reiterated before,it wont be
to the best interests of my clients and partners if the 'edge' is disclosed in an open forum
due to the risk of fading out by the banks, institutional traders,etc..
Contact me if you are interested in a private one on one coaching on these winning
4) A 123 bottom is a reversal pattern that is usually seen at the end of a downtrend, in
which the breach of the 2 denotes a bullish movement of price..
1 stands for the lowest low(LL)...2 stands for the intermediate high before price retraces,
and 3 stands for the intermediate low...remember 3, the intermediate low, should not be
lower than 1, which is the major or lowest low..
5)''A hammer have small real bodies(either black or white), and these real bodies have to be
at or near the highs of the session..Another criterion is that they need very long lower
shadows ( at least two to three times the height of the real body).Because of their
identical shape, you can identify them depending on where they appear in an uptrend or
downtrend...A hammer will appear at or near the bottom of a decline, either briefly or
extended; thus the name ''hammer''...which suggests that the market is hammering out a
base.. A bearish hammer simply means the clour of the hammer is dark, denoting the opening
price is higher than the closing price of the hammer..
A doji is a session in which the opening and closing prices are the same..theregfore it
resembles a cross.It indicates a market in complete balance between supply and demand..Since
a doji session represents a market at a juncture of indecision, it can often be an early
warning that a preceeding rally(rise) could be losing steam..
The ideal doji forms with the same opening and closing price, but this rule is
flexible..When the opening and closing prices are only a few ticks from each other, you can
still consider the candleline as a doji..''
The Candlestick Course...Steve Nison
[09:02:44 17/10/08] Stalion : helloo everyone
[09:05:07 17/10/08] fxjedi : hi stal
[09:06:28 17/10/08] Stalion : Sell Stop on the gbpusd @ 1.7250..1st target @ 1.7220...2nd
target @ 1.7195
[09:09:47 17/10/08] Stalion : hi fxjedi
[09:15:03 17/10/08] Stalion : twas okay, cap....our trade call yesterday didnt go our
way..so we scratch dat and say NEXT
[09:24:32 17/10/08] caprica1 : last day for me for a week. Lets see if I can finish the week
off on a nice note.
[09:31:29 17/10/08] Stalion : lol, cap....we'll finish the week on a positive note...we are
still on 3 winning days, 1 losing day...and today, friday, is up for grabs,,,//
[09:33:59 17/10/08] caprica1 : it's always always nice to finish the week off with a winner though
[09:35:03 17/10/08] masif1 : stal s/l?
[09:37:04 17/10/08] masif1 : anyone?
[09:37:24 17/10/08] Stalion : sl @ 1.7315...remember our pending stop order is still waiting
to be triggered...
[09:40:31 17/10/08] caprica1 : masif dont forget to add your spreads to the stop figure
[09:41:00 17/10/08] masif1 : 1.7320?
[09:45:04 17/10/08] caprica1 : Stal have you used the buy/sell windows on the cable?
[09:48:31 17/10/08] Stalion : Have you or Did you,cap?
[09:51:19 17/10/08] kokowater : is that retracement on cable or a reverse, stal?
[09:53:39 17/10/08] Stalion : price retraced at the 60% buy window, and now, its moving up...
[09:56:04 17/10/08] Stalion : any high impact news coming out from the gbp or usd?
[09:56:42 17/10/08] Stalion : right now, even price is looking for a good end to the week...lol..
[09:56:48 17/10/08] caprica1 : I was just wondering as I was reading your post on the forum
here about how you calculate the buy/sell windows
[09:59:26 17/10/08] Stalion : ohh,okay..
[10:01:01 17/10/08] kokowater : nope.. it is a low impact news for EUR
[10:01:08 17/10/08] kokowater : there are 2 impacts news at 1:30pm and 2:55pm respectively
[10:02:17 17/10/08] Stalion : right now, if you look at the GBPUSD 15 min chart, you'll see
MACD negative divergence to price, which foretells a bearish move down south...
[10:04:19 17/10/08] Stalion : gu needs to break above its previous high in order to really
qualify its bullish move....so we might be slapping a pending buy order above that
[10:07:58 17/10/08] caprica1 : rite.
[10:09:06 17/10/08] kokowater : ok
[10:11:52 17/10/08] kokowater : i still believe in the short of cable..
[10:12:45 17/10/08] fxjedi : why, kokowater?
[10:14:07 17/10/08] kokowater : we have a good 123 formation on gu looking at 4hrs
[10:17:21 17/10/08] kokowater : i am still holding my short on eu too, i enter so late
becasue i never chekc my 15mins chart for a good entry...
[10:19:36 17/10/08] Stalion : soo?
[10:20:34 17/10/08] Stalion : what does a 123 formation on the 4hr chart got to do with shorting the cable?
[10:20:37 17/10/08] kokowater : soo? how do you mean, stal?
[10:25:16 17/10/08] Stalion : can you please explain more,koko?
[10:27:10 17/10/08] Stalion : how do you mean the directional bias is still long on the 4hr
chart, cap? what are your reasons?
[10:27:28 17/10/08] kokowater : 123 formation on cable.. i am saying to support or buttress our point.
[10:33:20 17/10/08] Stalion : you see, koko, good training in trading is very important if
you want to take this thing to the next level..a 1-2-3 formation on the gu does not support
shorting the cable...just because a 123 is a reversal pattern that foretells a long
position, not a short position...that was why am asking...they are kind of mutually
exclusive in a way...
[10:37:43 17/10/08] Stalion : can you be more specific,cap?
[10:42:54 17/10/08] fxjedi : hey,caprica, i jus woke up this morning with a hangover.,please
dont add more to it,the headache,i mean,lol,.
[10:46:14 17/10/08] caprica1 : lol. Hangover? Self inflicted. No sympathy. lol
[10:50:04 17/10/08] fxjedi : Mercy!
[10:50:32 17/10/08] caprica1 : lol
[11:52:41 17/10/08] enolase : just taken tme to read all the posts
[13:54:31 17/10/08] enolase : today's trading is mostly range bound
[15:41:56 17/10/08] masif1 : first target hit on the short :clap:
[15:42:35 17/10/08] masif1 : cheers
[15:43:27 17/10/08] masif1 : 30pips today Winkforexgreenland dot com
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