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Thread: Review of Strategic Tips on Milking the Major Currency Pairs in Live Forex Trading

  1. #1
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    Default Review of Strategic Tips on Milking the Major Currency Pairs in Live Forex Trading

    Hi Folks,
    This is Stallion,veteran forex trader and mentor. I'm glad to be here and would be reviewing strategic tips on how the major currency pairs can be milked. Though I specialize in GBPUSD, other currency pairs would also be taken into consideration during our analysis. If you have a demo account or already into live forex trading, this thread might be useful in helping us along the path to success.

    It has been theorized that your state of mind will dictate your trading methods. Experts in the field of trading psychology have pinpointed three main states of mind and how each has a direct effect on a trader's profitability.

    These three mind states are "having", "doing" and "being". Psychologists have noted that those new to trading start with a "having" state of mind. As they gain more experience, they move on to a "doing" state of mind. The pinnacle of profitability occurs when a trader moves into the last and final "being" frame of mind.

    The "Having" Mind Set
    A novice trader may focus primarily on profits. In this "having" state of mind, they are out of sync with the markets. They are blinded by their obsession to obtain the all mighty dollar and what it can afford them. Trading is not viewed as a job that must be mastered, but as a vehicle to escape from a world of mediocrity.

    Many traders are in the business to make money, as well as they should be. However, if they are blinded by greed, they tend to take uncalculated risks. Looking at the potential payoff without carefully calculating market trends and other factors is a recipe for disaster.

    It is impossible to graduate to a high performance level when you concentrate on "having" instead of how the game is won. If you trade in a "having" frame of mind, you may become frustrated when profits are not immediately forthcoming. With frustration comes a lack of focus. Without the ability to focus, you cannot gain knowledge from your experience on the trading field.

    Other negative consequences of this mindset are feelings of frustration and anger. Frustration stemming from a lack of expected profits and anger directed at oneself or the market in general. These adverse emotions will only cause further decline in profitability. Without witnessing gains from one's efforts, an individual may not give their best and may be tempted to "throw in the towel".

    The "Doing" State of Mind
    If an individual continues on to trade another day, they will eventually move from a "having" to a "doing" state of mind. Learning that there is more to trading than the amassing of money, a trader will turn their focus on learning new methods of trading and what does and doesn’t work.

    This state of mind is still primarily centered on how to turn a profit. Although a "doing" mind state is essential to becoming a seasoned adept trader, the main focus is still short of the mark. It is crucial to know what works and what doesn't. However, a skilled trader will tell you there is more to the business then choosing one method and using it arbitrarily to make trades across the board.

    Becoming a trader of means requires not only a winning attitude, but also a fine honing of trading skills. To develop these skills, you must make trades using various methods under a wide spectrum of market conditions. Only then can you develop the needed intuition to master the art of trading.

    Pinnacle of Profitability: The "Being" State of Mind
    A successful trader almost instinctively knows how to make a trade using the best method available for the current market trend and/or condition. This ability does not occur overnight. It is only accomplished through perseverance, knowledge of various trading methods and learning which one works given a particular market condition.

    No trade is ever a "sure thing". However, a profitable synchronicity almost naturally occurs when you are faced with a potential trade, have a feel for the current market trends and conditions, and utilize the method best suited for a potential payoff. This "being" state of mind ultimately lends itself to long-term success in the high stakes of trading.
    forexgreenland dot com

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    Default Dissection of the Right Shoulder

    Originally posted by forexgreenland:
    Quote Originally Posted by Hina Rina View Post
    i have sold G/U @ 1.9272 with stop 2.0152 and target 1.8518.

    1.9510-0.0625=1.8885(target point)

    Hi Hina, nice call on the cable... There's a Head and Shoulders pattern on the GBPUSD Weekly

    chart, which is giving us a minimum target of 1.8885.
    Price might still get way down to your target of 1.8518 since it is a lil below the 60% BUY

    WINDOW,technical analysiswise. Remember, since this trade is being taken off the

    weekly(higher term chart), it is logical that it would take more time to get fulfilled. Next

    week would unfold the mystery...Lets keep our fingers

    crossed,shall we?

    Helloo folks,
    From what we could all observe, the ''dissection of the right shoulder'' of the head and

    shoulders pattern yielded a bounty of 387 pips,$387 minilot,$3870 standard lot on our weekly

    charts. Actually I was expecting someone to correct the first chart all these while since it was the other way round in the description...
    Nevertheless, GBPUSD made a good showing this week and kept the pips raining..
    Was it a fluke?No...
    Was it a scam? No..
    African magic? Nope..

    Just medium term/position trading with the Chart Pattern projection Strategy...Traders that took the call last week are congratulating each other while clients are smiling the bank.


    forexgreenland dot com

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    [11:41:04] boludotun : hiii everyone

    [11:45:57] masif1 : hi

    [11:48:42] boludotun : hello masif

    [11:51:23] masif1 : hi boludotun

    [11:55:35] boludotun : masif?

    [11:56:53] r2r : hello everybody

    [12:00:04] masif1 : yes

    [12:30:16] Stalion : hi masif1...helloo r2r

    [12:32:10] r2r : hi stallion

    [12:32:35] r2r : cable direction unclear at the moment

    [12:35:32] Stalion : yea....going on a head and shoulders pattern on the 15min chart...we could see some bearish action if

    price moves out of its range

    [12:35:37] r2r : gbp/chf looks good for a long

    [12:36:58] r2r : usd/jpy bouncing off Fib for a long

    [12:37:06] r2r : eur/usd bouncing off fib for a short

    [12:41:04] Stalion : cool

    [12:42:40] Stalion : patience is a virtue in forex....the thing is not only knowing when to trade but also, when NOT to put

    a trade...

    [12:45:30] r2r : knowing when not to trade is what has been killing me in the past

    [12:48:33] Stalion : yep....fallin into the risk of overtrading is not a cheap prospect,my man

    [12:53:03] r2r : not sure where my entry shoud be for gbp/chf

    [12:53:16] r2r : think i'll wait for a pullback

    [12:57:30] masif1 : hi

    [13:05:51] Stalion : helloo

    [13:14:14] Stalion : gbpchf is trying to break the 60% sound barriern of 2.0506, after it does we should be seeing a

    reversal down to a 1st target of 2.0456

    [13:20:42] masif1 : so gbpchf?

    [13:22:51] r2r : hmm well in that case I will watch and wait to see what happens

    [13:26:38] Stalion : yes....lets see it move up to 2.0525 first

    [13:35:52] masif1 : what is the stop loss for the gbp/chf?

    [13:36:41] masif1 : just entered on the demo account gbp/usd

    [13:36:56] masif1 : and starting to go into profit ;-)

    [13:37:29] masif1 : where should i place the stop loss ofr the gbp/usd?

    [13:54:00] Stalion : we are still waiting for authentic signals to be generated by the market, tundope...rather than jumping

    in and losing money unnecessarily...lets say we are ''testing the waters'', so to speak...for now, it would only b pending

    orders to confirm price bias

    [13:55:37] Stalion : so for the gbpusd, we are seeing a head and shoulders pattern on the 15min chart, in which it

    portends a bearish downward move..

    [13:55:58] tundope : k

    [13:58:03] Stalion : gbpchf just breached our high of 2.0525...

    [13:59:08] tundope : so u trade gbp/chf, dats too volatile for my liking

    [14:01:34] masif1 : hi guys

    [14:03:23] masif1 : i acted on the paper trading account for the gbp/chf

    [14:05:06] Stalion : here, we wait with patience...besides, mondays are notorious for slow trading

    [14:10:30] Stalion : so, for the gbpusd, we put a sell stop @ 1.8650, 1st target @ 1.8601, 2nd target @ 1.8576, stop

    loss 40 pips ahead

    [14:11:54] r2r : the panther strikes!

    [14:14:35] Stalion : not yet, mon ami....until our sell stop gets triggered....

    [14:18:41] Stalion : nothing newsworthy dis week, dats why dere's little momentum in the market

    [14:21:57] r2r : gbp/chf starting a retrace like you said it would

    [14:26:16] Stalion : going down with a vengeance...hope it keeps it up to 2.0456

    [14:53:48] r2r : ok gbp/chf rebound. I am inclined to think the downtrend is broken

    [16:30:26] masif1 : hi emzee

    [17:57:37] masif1 : hi

    [18:29:20] Stalion : hi kilo83

    [18:32:16] r2r : well stopped out of the cable short

    [18:32:28] r2r : wait for the ranging to stop

    [18:37:09] Stalion : our gbpchf call went down to 2.0456 after making a high above 2.0225 as predicted...gbpusd wasnt followed up so we scratch dat off...anyone took d gbpchf trade?

    [18:39:08] r2r : nope - watching and learning

    [18:40:01] Stalion : okay.,....

    [18:44:07] Stalion : the 231 pips made from d gbpchf call more than covered up for the cable's 40 pips 191 pips

    net was made...

    [18:44:29] r2r : ouch

    [18:45:58] r2r : a high above 20525

    [18:46:31] Stalion : ??????

    [18:46:59] r2r : gbp chf didnt make a high of 20225?

    [18:48:03] Stalion : gbpchf made a high of 2.0530 before going down to 2.0225

    [18:48:50] Stalion : around 8.45 a.m EST

    [18:49:47] r2r : before going down to 20456

    [18:49:51] Stalion : what broker are u using, r2r?

    [18:50:28] r2r : just spreadbetting

    [18:50:31] Stalion : yes....2.0456

    [18:50:32] r2r : ig indewx

    [18:50:46] r2r : this netted 69 pips

    [18:50:57] Stalion : dats nice....

    [18:51:27] Stalion :

    [18:51:29] r2r : unfortunately i didnt take the sell signal

    [19:03:27] Stalion : no probs...tommorrow is another day...
    forexgreenland dot com

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    Default Conversations With Forexgreenland Part 2

    [11:01:04] Stalion : [10:43:13] Stalion : [10:25:19] Stalion : so, we buy gbpusd @ 1.8574,for a 1st target of 1.8616 and a 2nd target of 1.8641

    [11:01:38] Stalion : 1.8574...not 1.9574

    [11:03:12] tundope : hi bros

    [11:03:37] bros1234 : hi tundope

    [11:04:17] bros1234 : i was wondering if stallion can tell us reason for the buy

    [11:05:33] caprica1 : I've just tried t oplace an order on my demo account, and it keeps saying off orders. What does that mean?

    [11:05:53] bros1234 : maket has passed that price

    [11:07:49] r2r : stalion are we waiting for price to retrace below 1.9574 before putting in the buy order?

    [11:09:16] bros1234 : fxdd price 18584 so not a bad buy based on his target

    [11:09:32] caprica1 : the ask price is now 1.8577. I should still be able to place a buy order with a 1st target at 1.8616 though no?

    [1154] Stalion : not a bad buy, as long as its okay with your risk to reward ratio...and placing ur stop loss would be below the low or support area...

    [1157] bros1234 : Stalion...sorry to bother u...any reason for this curious

    [1128] Stalion : dats like 40 pips or so....

    [11:17:18] Stalion : yes,bros1234....we hit the 60% sound barrier early this morning, and chances are price tendsto reverse around that area and form a new trend...

    [11:19:21] bros1234 : Stalion...i was thinkin the major trend is down though oversold and i saw a 123 pattern on the 1 hr so me thinks it might still break that barriar and cret a new low...but thank i will be watchin from here

    [11:22:38] Stalion : no probs....we sit back and watch....

    [11:23:11] Stalion : where's price now at your broker?

    [11:24:57] bros1234 : fxdd...18561...

    [11:26:33] caprica1 : GBPUSD now at 1.8559 on my window.

    [11:27:02] bros1234 : caprica1...yeah

    [11:29:54] Stalion : on the USDCAD, at 1.0648, we would likely see price going up to 1.0695 first...then to 1.0714

    [11:29:59] bros1234 : caprica1...sorry...the trend is down so i will change soon but i dont know when...

    [11:30:15] caprica1 : my S/L is @ 1.8515

    [11:30:50] caprica1 : yeah i know bros1234, all my signals are short. lol

    [11:37:03] Stalion : market takes its cue from technicals and the fundamentals just agree - I bet small now that now that everybody sees doom and gloom over EUR and GBP - they might reboud..

    [11:37:29] masif1 : caprica - is that your stop loss on gbpusd at 1.8515

    [11:37:54] masif1 : how did you come to this?

    [11:38:11] caprica1 : yeah thats the s/l masif1

    [11:41:41] fxjedi : hi all

    [11:58:05] fxjedi : Dovish BOE To Push GBP Even Lower - BNPP 0833 GMT [Dow Jones] Following dovish comments from the BOE's Tim Besley, while UK recession fears grow, the GBP is likely to fall further against the USD and EUR, says BNP Paribas. "GBP/USD is likely to break

    [11:58:33] fxjedi : through the recent lows at 1.8520, to open downside potential into the 1.82/1.18185 area," the bank says.

    [11:59:00] tundope : lol

    [12:05:49] r2r : attempt to move prices lower so the bank can buy?

    [12:06:20] boludotun : hi everybody

    [12:30:14] fxjedi : looks cable is going higher

    [12:37:36] fxjedi : going higher!

    [12:37:54] bros1234 : yes

    [12:38:12] bros1234 : 18616 now

    [12:38:39] masif1 : just hit our first target!

    [12:51:36] fxjedi : cable at 18626 and advancing, stallion

    [12:53:03] eugen3000 : thank you

    [12:58:16] masif1 : 2nd target is getting close

    [13:09:58] Stalion : so, remember guys, as our first target have been hit, we place our stop loss at our initial entry point and let d rest of the lots run on our second target..that way, we lock in profits on our first target and worse case scenario, we breakeven if our 2nd

    [1341] Stalion : target doesnt get hit

    [1344] fxjedi : very smart move, stallion

    [13:38:01] albashir : hello room

    [13:38:28] albashir : wats on the market for today

    [13:40:23] fxjedi : i think stallion was saying first step was to go up 20 pips above sl, then second step to cover stop loss at inital entry point.,

    [13:44:04] albashir : wats the entry point or was he talking on news entry or making use of some indicators??

    [13:48:57] anddy26 : good day you have a fixed set of pairs you deal with or just the ones that show the signals

    [13:49:54] Stalion : hi albashir, anddy26...

    [13:50:26] Stalion : Not predefining your risk, not cutting your losses, or not systematically

    [13:50:49] Stalion : taking profits are three of the most common—and usually the

    [13:50:54] albashir : hey, Baba... isaw u were away then logged off... was just asking wat the info for today is all about

    [13:51:01] Stalion : most costly—trading errors you can make

    [13:51:52] albashir : ok... got it & noted!

    [13:53:28] r2r : usd/cad beginning to take off like u said Stalion

    [13:53:41] anddy26 : hi stallion Masif has told me to check you guys out..ur doing better than our we trade EOD usualy

    [13:54:48] albashir : r2r, wats d info on UCAD

    [14:00:04] Stalion : [11:29:54] Stalion : on the USDCAD, at 1.0648, we would likely see price going up to 1.0695 first...then to 1.0714

    [14:03:32] r2r : usd/cad chart is sooo messy I dont know how u can read it Stalion

    [14:23:46] r2r : price rejection in usd/cad

    [14:25:44] Stalion : yes...dats the news dats about to come off the US....seems its negative for we hold off our buy on the usdcad for now,

    [14:28:07] r2r : but the news isnt out yet!

    [14:28:27] r2r : are these the ppl in the know moving the price?

    [14:36:06] albashir : Stalion does tis mean we close our position on ucad?

    [14:38:39] Stalion : from what we could deduce from the news, looks like the PPI was higher than expectations, so its favourable to the dollar

    [14:39:10] albashir : so .....

    [14:39:21] tundope : yeah u got dat rite

    [14:39:34] tundope : its dollar buying time

    [14:40:03] Stalion : so we are seeing the dollar going up, while gbpusd is going down due to news

    [14:41:43] masif1 : we got dtopped out on the gbp/usd

    [14:41:50] masif1 : stopped

    [14:42:09] masif1 : therefore we broke even

    [14:45:29] Stalion : yep....breakeven on the gbpusd with a first target haul of 47 pips...

    [15:01:34] Stalion : usdcad is now going our way

    [1551] tundope : 50 pips left to go on the usd cad target

    [15:24:44] r2r : Stalion is it worth looking at usd/jpy 1hr double bottom ?

    [15:30:04] Stalion : yep...nothing bad in dat....looks like the usd pairs are in a is busy digesting the news,u know...technical analysiswise, usd pairs are supposed to go down, while pairs like gbpusd are supposed to go up in the short term..but d surprise

    [15:32:00] Stalion : favourable news from the US have brought in a state of, who would win the fight? technical analysts or news traders? personally, its the camp that puts in the biggest funds to support their bias that is going to win

    [15:40:36] albashir : got stopd out

    [15:41:13] albashir : on ucad.....fx is not 100%...

    [15:41:34] Stalion : 1.8693 next target

    [15:42:39] albashir : Stalion wat pair is this?

    [15:43:11] Stalion : how come, albashir, u got stopped out on usdcad...?

    [15:43:12] Stalion : Stalion : on the USDCAD, at 1.0648, we would likely see price going up to 1.0695

    [15:43:36] Stalion : first...then to 1.0714

    [15:44:09] Stalion : if u used a 40pip stop loss, ur risk would've been like 1.0608

    [15:44:31] Stalion : price is still at1.0642 on the usdcad right i right?

    [15:46:03] Stalion : or where did u enter on the usdcad?

    [15:48:14] albashir : I actuall entered @ 1.0667 and had 30pips sl

    [15:49:30] albashir : I came in late...

    [15:50:08] albashir : well lost some $90...

    [15:50:36] Stalion : that means u didnt follow d call and did opposite of what was given out on the chatroom..well, u u cant blame anyone for dat, my friend..

    [15:51:36] r2r : nice call on nzd/usd tundope

    [15:52:17] Stalion : price on the usdcad is now at 1.0655...7 pips higher dan our initial trade call...

    [15:52:19] albashir : i take the blame i came in late and saw a buy order...( I think) & dats wat I did...

    [15:52:24] r2r : how man currency pairs do u follow?

    [15:52:34] r2r : many

    [15:57:13] Stalion : for today,just two....gbpusd and usdcad...we've already made 47 pips off our 1st target for cable...before breaking even on d 2nd target point...looking at usdcad to give us the next set of pips...also keepin an eye on cable to see if it would breach 2nd

    [15:59:16] Stalion : looks like cable and usdcad are trading opposite each goes up, d other tends to go down..

    [16:07:46] Stalion : PPI release was higher than expectations,quite favourable to the dollar

    [16:08:39] Stalion : 15 pip profit on the usdcad

    [16:09:38] Stalion : trying to break above d 1.0663-7 resistance barrier..

    [1605] Stalion : if it does, then up we go for almost another 47 pips on 1st target

    [16:35:45] Stalion : usdcad is not behaving the way its supposed we cut it off at breakeven

    [16:35:57] Stalion : 1.0648...

    [16:37:13] Stalion : so anyone that is on that usdcad trade could let it off...our 47 pips on cable should be quite enough for today...

    [16:38:33] r2r : good call

    [16:41:41] Stalion : thanx,r2r....lets not forget that cable might still go up to a target of lets take note and keep our fingers crossed,shall we?

    [17:03:37] eugen3000 : thnx stalion, and see you tommorow

    [1747] r2r : thanks Stalion, cable moving up - fingers crossed
    forexgreenland dot com

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    Helloo fellow traders,
    First I'd like to congratulate the Nigerian Olympic Dream Team IV for qualifying for the Finals of the Soccer Championship.

    May the best team win..

    [09:27:45] Stalion : we sell gbpusd at 1.8613, 1st target point @ 1.8593, 2nd target point @ 1.8555, 40 pip stop loss away .

    [10:28:35] eugen3000 : what i learned or still try to learn is, to be patience and trade my plan with patience

    [10:29:13] caprica1 : yeah I think thats the key phrase right there eugen3000. Patience. Ii believe it's a virtue. lol

    [10:30:07] r2r : MPC minutes out v soon cud b some volatility

    [10:30:30] r2r : woah

    [10:31:24] caprica1 : jeez, thats just taken a massive jump!

    [10:31:38] Stalion : price is moving like a schizophrenic....

    [10:32:17] caprica1 : lol. Hats one way to put it.

    [10:32:20] fxjedi : hi all

    [10:32:59] Stalion : did i miss out any alerts?

    [10:33:54] Stalion : hi jedi.....

    [10:34:13] caprica1 : r2r just mentioned the imminent MPC minutes

    [10:34:54] Stalion : ohh, maybe dats the cause of markets manic depression...

    [10:37:41] r2r : down dooby doo down down

    [10:37:52] boludotun : lol

    [10:38:09] Stalion : if price goes back down our first target point, we lock in profits by moving sl to initial entry point this

    time around...just to play safe, if u know what I mean...

    [10:46:21] paulsimon : GBP/USD: Knee-Jerk Lift after Another Three-Way MPC Vote Split London, August 20. Cable

    ran into resistance ahead of 1.8640 (today"s Asian session base) after eliciting a knee-jerk boost from the BoE MPC

    minutes disclosure that Tim Besley voted for a 25bp

    [10:46:38] tundope : hey

    [10:47:02] paulsimon : 1.8588 was the pre-MPC minutes release low. Bids are tipped at 1.8585, with sell stops tipped

    below 1.8573 (yesterday"s NY session base), with further buy interest then noted at 1.8540 (yesterday"s low was

    1.8538). Additional sell stops reportedly reside

    [10:47:11] paulsimon : sub-1.8500 (1.8510 was last Friday"s 25-month low).

    [10:48:31] Stalion : we are being swamped by news the market decides to react to it is quite another

    thing altogether...

    [10:49:07] russy : hmmm we had some conflicts from uk

    [10:51:37] tundope : this week has been too dull in the markets, not much volatility

    [10:51:52] fxjedi : perhaps we also check on usdcad,news also cominh from there

    [10:53:13] paulsimon : i am also waiting for the cad news rls.. i have a cad/jpy trade open currently at -65 pips

    [10:54:25] fxjedi : geez,

    [10:55:36] caprica1 : its just hit 1st target again.

    [10:56:24] Stalion : looks like gbpusd is now seeing things our way...

    [10:58:10] fxjedi : its stalling,stallion

    [10:58:31] r2r : patience

    [10:59:04] eugen3000 : move sl to initial entry right?

    [11:00:22] Stalion : lets see it get to 1.8588 first

    [11:01:15] Stalion : den sl to entry to lock in 20 pips profits....anything price wants to do after dat is its own lookout

    [11:03:14] Stalion : the thing is, am looking to nick just 20 pips first...den breakeven if price doesnt go our way

    eventually...wouldnt want us out of the trade dat greedy, guys?

    [11:03:50] tundope : defl'y not

    [11:03:58] boludotun : nope

    [11:04:28] paulsimon : stallion, i dont understand how u mean move SL to entry to lock 20 pips.. i mean if the price

    moves back to entry , we would be stopped out and have nothing right..

    [11:04:58] fxjedi : greed is good

    [11:05:52] eugen3000 : so your sl is still at 1.8653?

    [11:07:03] Stalion : well, paul, before moving sl to entry, price would've been like 20 pips ahead in our price

    already moved 20 pips ahead, dat is wen we place in our sl to entry point to lock in dat 20 pips

    [11:07:45] paulsimon : oh ok..

    [11:07:53] paulsimon : now i got it ..

    [11:09:07] tundope : no event risk left for today in g/u so technicals will direct price action

    [11:18:59] caprica1 : I think I might have done it wrong then Stalion. I haven't taken any profit out of the market yet, and

    Ii adjusted my S/L to entry. I only have 1 order open.

    [11:19:03] paulsimon : just sell half

    [11:19:32] Stalion : sorry, jus do wat paul says....

    [11:19:44] paulsimon : i just did tat now..

    [11:20:40] caprica1 : how do I sell just half?

    [11:20:56] paulsimon : click close and then select how much u want to sell

    [11:21:15] fxjedi : lol,dis is a real practical forex class:lol!:

    [11:21:38] paulsimon : for example, if u bought 100 lots, click close and then select 50 lots and sell

    [11:23:55] caprica1 : so if my lot size was .10 for example, I WOuld close half that size?

    [11:24:26] paulsimon : hmm, my broker allows me to sell only in multiples of 10

    [11:30:54] paulsimon : by the way our trade seems to be going very well

    [11:31:54] fxjedi : 20 pips to go for our seconds target

    [11:46:05] paulsimon : the stallion has just left the stable

    [11:46:29] Stalion : not yet,,mon ami

    [11:46:38] Stalion : am enjoyin ur conversations...

    [11:46:57] Stalion : brb in 10 mins

    [11:47:01] paulsimon : aww, the silent listener to every conversation

    [11:47:05] paulsimon : am just shooting my mouth off..

    [11:48:46] boludotun : our trade is going our way

    [11:50:38] caprica1 : well it's a medium term goal to get to that level. If can make £1000GBP per month that would

    cover my wage. Then I could start to think about things.

    [11:50:43] paulsimon : all the best..

    [11:50:51] paulsimon : the coutndown begins

    [11:51:12] caprica1 : My hours are bad at the moment though. 11:30a.m to 8:00p.m

    [11:51:46] caprica1 : 2nd target hit. Whoo Hoo.

    [11:52:07] boludotun : whoa

    [11:52:31] paulsimon : congrats guys..

    [11:52:43] tundope : cool money made to the bank

    [11:52:49] paulsimon : congrats stallion.. god speed

    [11:52:59] caprica1 : nice one Stalion. Youda man.

    [11:53:11] boludotun : the Panther has gotten its

    [11:53:39] tundope : u only become confident with your trades after some yrs of experience

    [11:53:53] tundope : dats wut stal has developed

    [11:54:34] boludotun : im lacking in that part -experience

    [11:54:44] boludotun : but with time'

    [11:55:22] r2r : well done Stalion again

    [11:56:39] Stalion : 58 pips,$58 minilot,$580 standard lots in less than 3 hours...

    [11:57:12] Stalion : we did a gud job,guys

    [11:57:13] tundope : yeah sure

    [11:57:33] eugen3000 : super job Stalion

    [11:59:28] caprica1 : certainly echo that coment. Ice job stalion.

    [12:02:07] caprica1 : I'll have to see what happens the rest of the day now, or see if I can get in again before I go to

    work tomorrow.

    [12:12:55] Stalion : hope our 58 pips was enough for us?

    [12:13:18] tundope : no

    [12:13:29] tundope : we want mmore

    [12:14:26] Stalion : lol....Oliver Twist wants some more....

    [12:14:56] Stalion : abi u think say na Olympic Dream Team wey give Belgium 4-0?

    [12:15:00] paulsimon : and we all know how tat turned out
    forexgreenland dot com

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    [01:27:45] Stalion : Hi folks..

    [01:29:35] Stalion :Hope you all had some nice pips yesterday...As at Wednesday (3 days) into the 1 week free signals

    service, we've made more than 308 pips on our live trades..and we are looking to make more..

    [01:30:02] Stalion: We are seeing a 1-2-3 bottom on the gbpusd, so we put BUY STOP @ 1.8645, target @ 1.8695,

    with a 40 pip stop loss away...

    [01:31:48] Stalion: 45 pips live money is at stake here, my friends, so lets keep our fingers crossed,shall we

    [01:45:01] Stalion:;hi n3sve1k4s

    [02:05:14] Stalion:we could also see put a sell stop on GBPCHF @ 2.0440, target point @ 2.0406, stop loss 40 pips


    [08:37:08] r2r : mad moves this morn

    forexgreenland dot com

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    Default Conversations With Forexgreenland (208pips,$208 minilot,$2080 standard lot)

    [00:28:01] masif1 : hi eugen

    [08:04:58] bros1234 : morning everyone

    [08:49:35] eugen3000 : morning bros1234

    [08:51:12] bros1234 : hi

    [08:58:27] bros1234 : gr8 day for traders

    [08:59:00] eugen3000 : why its freaky friday :-)

    [08:59:31] bros1234 : yep

    [08:59:37] bros1234 : but somthin wiill soon happen

    [09:00:15] eugen3000 : what do you mean by somethin?

    [09:02:08] bros1234 : i believe its an upday

    [09:10:58] r2r : morn all

    [09:15:34] eugen3000 : morning

    [09:19:26] Stalion : Helloo everyone

    [09:19:52] eugen3000 : hi Stal

    [09:21:03] Stalion : hope you'all had a good nite sleep yesterday....

    [09:21:45] Stalion : hi eugen....another trading day starts...

    [09:22:28] eugen3000 : yeap

    [09:22:55] paulsimon : hey stallion.. good news from my side.. my cad/jpy is +40 pips right now

    [09:22:59] eugen3000 : i hope paul you didnt close your cad/jpy trade

    [09:23:14] eugen3000 : +40 great, congrats bro

    [09:24:50] paulsimon : should i stop the trade or will it get better

    [09:25:08] paulsimon : my internet connection is sucky , getting cut off badly.

    [09:25:39] Stalion : told u u should be patient and wait for price to reverse around dat 0.7093 region

    [09:25:58] paulsimon : i listened to ur advice stallion and i waited it out..

    [09:26:31] Stalion : so, we put sell stop on gbpusd @ 1.8730, target @ 1.8700

    [09:26:44] Stalion : jus to whet our appetite dis morning...

    [09:26:50] paulsimon : now what do u think is the next course of action.. oil and gold seem to be rebounding so i think i

    should hold it for a lil while longer at least to do justice to my stop loss

    [09:27:35] paulsimon : what is the stop loss for the gbp usd trade

    [09:30:19] paulsimon : damn i missed the window of opportunity

    [09:30:50] eugen3000 : me too, maybe it will comeback to 30?!? we will see

    [09:31:10] Stalion : 30 pips away...1;1 risk to reward ratio

    [09:32:21] masif1 : we missed the opportunity but it hasn't hit it's target yet

    [09:36:39] Stalion : dats intraday trading for you, fellas....gotta be real fast to

    [09:37:44] paulsimon : true.. just lost 30 pips.. target almost hit

    [09:38:05] eugen3000 : damn my price was just one pip under our limit, grr ;-)

    [09:38:59] paulsimon : i scalped 6 pips during the spike down

    [09:39:50] r2r : morn Stalion and all

    [09:40:10] r2r : lets hope cable carries on going down

    [09:40:26] masif1 : morning r2r

    [09:40:33] masif1 : do u think so?

    [09:41:07] masif1 : i was hoping cable is a long now for the next few weeks?

    [09:42:52] r2r : down just for this morning

    [09:43:05] r2r : so i can make some pips

    [09:44:01] Stalion : 2nd target 1.8679

    [09:44:24] Stalion : just put a 15 pip trailing stop loss and lets watch price do its job...we follow it wherever it wants to


    [09:44:26] r2r : hey Stalion is there a 123 on usdcad?

    [09:44:31] Stalion : morning, r2r

    [09:44:52] Stalion : 2nd target at 1.8679 about to hit...

    [09:44:56] paulsimon : 2nd target hit!

    [09:45:13] Stalion : MAMA MIA!!!!!

    [09:45:25] r2r : yeah!!!!!!

    [09:46:06] Stalion : SANTA MARIA!!!!!!!!

    [09:46:32] r2r : lol!!!!!!!

    [09:46:39] r2r : usdcad long pending 10456

    [09:46:43] paulsimon : did anyone other than stallion enter these trades..

    [09:46:44] paulsimon : ccongrats guys

    [09:47:21] r2r : lost 20 pips going long cable, then shorted at 739

    [09:48:32] eugen3000 : no, my price didnt go to 30 after trade call, damn, i love trading, hihi

    [09:49:14] r2r : lost pips trying to long eurusd so overall just above breakeven

    [09:49:21] paulsimon : then u must have made 50 pips

    [09:50:09] paulsimon : then u must have made 50 pips

    [09:52:16] Stalion : more dan 50 pips....added 3 minilots to it...

    [09:53:29] Stalion : so, lets see if price would reverse and go up...

    [09:53:57] r2r : gdp in 35 mins

    [09:55:55] Stalion : we put a buy stop stop @ 1.8688, target @ 1.8722....

    [09:56:04] Stalion : wats d expectations?

    [10:29:31] Stalion : hi paul, did u add the pip spread to the cable's buy order?

    [10:31:04] Stalion : move out,paul....its not working

    [10:31:38] r2r : gdp was 0% expected 0.1%

    [10:32:05] takbal : GDP pushed it down

    [10:32:26] r2r : how does usdcad look Stalion?

    [10:34:11] masif1 : stalion are we still on for the "we put a buy stop stop @ 1.8688, target @ 1.8722...."

    [10:35:34] Stalion : yea....leave the pending order as it is...remember, add ur 4 pips to 1.8688

    [10:36:02] Stalion : usdcad looks like stale beer

    [10:36:58] Stalion : usdchf looks more bubbly

    [10:37:43] Stalion : but since d dollar pairs are showing bullish signs of going up, looks like cable is looking to go down

    [10:38:32] Stalion : dats where pendening orders come confirm bullish or bearish bias

    [10:39:50] takbal : do you have any ideas where the fall may stop?

    [10:41:20] Stalion : 1.8598

    [10:42:29] masif1 : yep cable down down down

    [10:43:00] takbal : thanks! hit it now - I am stopping shorting cable now...

    [10:43:36] bros1234 : i thnk thats where it will stop

    [10:43:48] Stalion : in a way, i woudnt want it to stop...because the trailing stop of 15 pips put in earlier has not been cut

    off,technically, am still on the trade...though with just 1 minilot now...creamed off 2 minilots earlier

    [10:44:02] bros1234 : 18541

    [10:44:41] Stalion : wait,takbal...not soo fast....allow the market to do what it wants...ur job is to profit from it..

    [10:45:37] takbal : how did you derive these numbers? I usually have no idea what is a reasonable target

    [10:47:09] takbal : I just simply follow the graph and if it looks reversing then I get out

    [10:48:19] Stalion : dere's more to trading dan simply following graphs, takbal..

    [10:50:36] tundope : hi all

    [10:50:56] Stalion : helloo tundope

    [10:51:32] albashir : good all...i guess i'm early today...did miss anything yet, bros,bolu', r2r,tabal & STAL...

    [10:51:43] takbal : hi

    [10:52:04] Stalion : u missed almost 208 pips this morning, man..

    [10:52:16] tundope : av u made a call yet stal?

    [10:52:21] Stalion : [09:26:31] Stalion : so, we put sell stop on gbpusd @ 1.8730, target @ 1.8700

    [10:55:19] klho83 : I missed dat too!

    [10:59:37] masif1 : tundope - i missed that alert as well :-(

    [11:00:42] tundope : too bad 135 dollars would have made me go to bed by now

    [11:01:33] Stalion : gbpusd still going down....damn...shudnt have taken off half profit from my remaining minilot

    [11:01:33] tundope : but usd/jpy looks very inviting to me this morning

    [11:01:52] tundope : i'm looking to sell at current price for 100 pips

    [11:04:43] Stalion : next target for gbpusd is likely to be 1.8522 on the short side...
    forexgreenland dot com

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    Morning, folks,
    Just want to congratulate the Nigerian Olympic Dream Team IV for their successful outing in the Soccer Championship and winning the Silver Medal this morning.
    Also for the Argentinians that came out tops in the Soccer Fiesta. The best team won. We thank God and give glory to Him for everything..


    Someone made a crack that we should've played Reggae music (or is it Fuji?) during the match, like the Jamaicans did Usain Bolt, for athletic inspiration. Lol..

    Anyways, down to trading. If you checked the previous chart, you would probably observe that 3rd target @ 1.8522

    havent yet been filled as at the time of posting yesterday. There was a space below, waiting to be filled at the bottom of

    the chart.

    Originally posted by forexgreenland:
    [QB] [11:04:43] Stalion : next target for gbpusd is likely to be 1.8522 on the short side... [/QB]

    An hour later after the initial post, we saw price on cable(GBPUSD) tumbling down like a waterfall to get to our



    We had a profitable week on our live calls in which approximately 500 pips,$500 minilot,$5000 standard lot was made on the average.

    No gimmicks...
    No lyrics..
    No Nigerian magic..

    Just the art and science of trading at its best.

    We also want to thank Alpari and others for being fair and honest brokers,no hunting of stops during live trading sessions.We hope these ethical practice continues so as to restore confidence in the forex industry and show traders and the public,especially my Nigerian folks, that money can indeed be made consistently in this frontier.

    Have a great weekend!
    forexgreenland dot com

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    Hi Folks,
    We thank God for seeing us through another week and bringing us to a brand new week.More profits ahead,fellas.

    Quote Originally Posted by TheRumpledOne View Post

    I think I understand

    My question is that your numbers always have a 1.5 : 1 risk/reward ratio but in your posts you talk about 2.5 : 1, can you

    Hi, The RumpledOne,
    It seems I've been misquoted in a way...from what can be remembered,I'm not sure we talk about 2.5 :1 ratio in my

    posts, just a 1:1 and 2:1 risk reward ratio.Maybe you could check again and help bring that quote for us to see. But in

    actual fact, I'm trying to write on Risk Management(including Risk to Reward Ratios) in my subsequent posts.
    Stay tuned, mon ami.

    Quote Originally Posted by TheRumpledOne View Post

    Now, I am not clear that I fully understand.
    Neither do I ,mon ami...Seems you are about to RUMPLE UP my brain cells, RUMPLED

    Anyways, from what I can see, you are using SUPPORT AND RESISTANCE (or is PIVOT POINTS?) on the 15min

    GBPUSD chart. But at the point where you( or the robot) wrote ''1.8681..go Long) was quite erroneous because you

    would have lost close to 81 pips if the trade was triggered at that region.
    The long bearish red candle have broken below the 1.861 support and the greenish bullish candle next to it had a low below

    the LOW of the previous bearish red candle. So there was no reason, technical analysiswise, to go long at that

    region,RUMPLED ONE.

    At the point where you (or the robot) wrote ''1.8607 SUPPORT'', the long red bearish candlebar has already broken it,

    turning SUPPORT TO RESISTANCE at that point. And if you could observe, price did not in any way CLOSE above

    ''1.8607 SUP'' line to warrant a decision to buy or go long at that point. That point was then a RESISTANCE POINT

    like a ceiling above. What would have being on our mind during price action was to SELL...GO SHORT. And you

    would have made up to 81 pips from that bearish bias.

    I sure hope you didnt take that long trade that was shown on that chart, RUMPLED ONE. If it were an Expert

    Advisor(robot) that triggered it, it wouldnt have been funny,my friend, cos of the losses that might have been incurred.

    I want to give thanks to Steve Nison for bringing the ''CANDLESTICK PATTERN'' to the Western Hemisphere from

    the East (Japan). And I recommend the book for anyone serious in making money from trading.

    Please feel free to ask any questions or make comments.
    forexgreenland dot com

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    [01:55:10] Stalion : hi everyone

    [01:57:27] fxjedi : hi stal

    [01:58:40] Stalion : In the meantime, we've already sold EURJPY early this morning, @ 162.38, waiting for it to get to a target of 97 pips @ 161.41. You can enter at current market price
    forexgreenland dot com

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    Conversations With Forexgreenland Reloaded Pt 1

    [01:55:10] Stalion : hi everyone

    [01:57:27] fxjedi : hi stal

    [01:58:40] Stalion : In the meantime, we've already sold EURJPY early this morning, @ 162.38, waiting for it to get to a

    target of 97 pips @ 161.41. You can enter at current market price

    [08:57:13] teressa : hello and thanks stallion

    [08:57:22] teressa : it would be my first week

    [08:57:27] Stalion : price is at 161.94 right now...

    [09:17:21] bros1234 : Stallion how are u dong man

    [09:17:59] bros1234 : i heard a rumor that u want to render ur broker bankrupt

    [09:19:23] eugen3000 : hi Stalion

    [09:19:51] Stalion : its not my fault,bros

    [09:20:30] Stalion : blame it on the skills

    [09:20:44] Stalion :

    [09:21:26] bros1234 : i also heard they have conspired against u so i organised a 120 days fasting for u

    [09:21:53] Stalion :

    [09:21:57] bros1234 : do u mind

    [09:22:26] Stalion : take it easy, man....dont overdo it oo

    [09:22:57] Stalion : thanx for gesture....anytime..

    [09:23:09] bros1234 :

    [09:23:29] bros1234 : stal hows cable doing

    [09:26:16] Stalion : no probs....

    [09:26:17] bros1234 : i lke to have fun

    [09:28:52] Stalion : dont know why Alpari is freezing all of a sudden....wats the current market price at ur end,guys?

    [09:30:03] bros1234 : 16202 for ej

    [09:30:12] maxcruiver : 162.02

    [09:30:16] maxcruiver : EURJPY?

    [09:30:53] Stalion : yea...

    [09:31:53] Stalion : since posting out the wildly successful alerts of last week, av become more cautious and wary...

    [09:32:07] bros1234 : LOW volume today

    [09:32:29] bros1234 : Summer Bank Holiday in UK

    [09:32:34] Stalion : av been getting this freezing of platform at alpari ever since i put in this EURJPY trade dis

    [09:33:23] bros1234 : alpari is inUk

    [09:33:27] Stalion : yep....but dat doesnt stop traders from least, the ones in the US are already up shoving

    orders all over the place...

    [09:34:03] bros1234 : during Holdays brokers normally have prce gaps

    [09:34:38] bros1234 : location can matter n such times

    [09:35:05] Stalion : dats why i neglected gbpusd this looked to slow,with the bank holidays and all...

    [09:36:00] bros1234 : low volume generally this morn

    [09:36:24] bros1234 : i think the newyork dogs wiill put some force later

    [09:51:02] fxjedi : hi all,

    [09:56:59] fxjedi : i've entered the eurjpy trade as soon as i got your post,stal,

    [10:03:16] fxjedi : Labor Day typically marks the end of a late-summer lull on Wall Street. This year, investment bankers

    are beginning to worry that they will return from the Hamptons to find they have even more time to spend with their

    families.Senior bankers warn that

    [10:03:33] fxjedi : after a tough first half, the outlook has deteriorated further. Does the grim forecast mean that the

    long-rumored consolidation in investment banking will finally occur? MORE TIME FOR GOLF


    [10:04:29] fxjedi :

    [10:07:01] Stalion : lol.....does that mean bankers n traders prefer working dan spending time with their families,jedi?

    [10:09:00] gunawan09 : I am agree with you Stalion... Sometimes I just sitdown on front my Pc allday..

    [10:09:12] fxjedi : its a newsreport i found,stallion,maybe its all about the benjamins?

    [10:13:55] fxjedi : (GE) According to Ifo, the outlook for German exports has deteriorated to its worst level in over 15

    yrs - German Press - Ifo's export climate indicator for German fell by 0.08 points to minus 1.24 points (lowest reading

    since May 1993)

    [10:14:50] fxjedi : GE) According to a report by Der Spiegel, it will take at leat 10 yrs for the German gov't and KfW to

    restock risk funds by around €5B, following thier rescue effors for IKB Global outlook: The global economy remains

    mired in a stagflationary situa

    [10:16:47] fxjedi : On back of weakening trend in growth data, OIS market continues to look for ECB easing of 40 bps

    next 12 months; house tips ECB to cut rates 75 bps during same period. Going forward, "we expect a trend of

    deteriorating growth conditions, and this will mos

    [10:17:06] fxjedi : most likely keep the euro in a broad downtrend."

    [10:17:14] bros1234 : fxjedi..good for us as we will make more money shorting

    [10:18:13] bros1234 : who cares as long as we pay our bills

    [10:18:43] gunawan09 : Ha..ha.. Iam agree wit you Bros1234

    [10:18:44] fxjedi : I dont understand, guys....seems the US credit crises and recession is affecting not only UK, but also

    Old Europe, like Germany...even the Nigerian Stock Market is presently in tatters

    [10:19:32] bros1234 : * USD rose against the Euro on speculations that the drop of the crude oil price support the US

    growth. Additionally the German business confidence tomorrow is expected to drop to the lowest level since 2005.

    [10:19:42] fxjedi : and the South African Stock Market with the Rand

    [10:20:22] bros1234 : fxfxjedi...i am buying gold and sellin all currenices

    [10:20:56] bros1234 : including the naiirs

    [10:22:04] Stalion : at least the fundamentals are confirming our technical analysis

    [10:23:00] russy : yes. fundamental rules, technical confirms

    [10:23:33] bros1234 : the charts do no tell lies...iit says what has happened

    [10:23:49] fxjedi : hey, russy....welcome

    [10:24:56] bros1234 : guys no london no morniing trade...wiill see

    [10:25:41] fxjedi : information is already discounted in the charts, day/swing traders, technical

    analysis rules,..fundamentals are more better for long term trading , and maybe stocks...

    [10:28:51] russy : well, the technical only play out the fundamental......i never forget that

    [10:29:47] Stalion : the old time worn argument of who rules....technicals or fundamentals...

    [10:32:07] fxjedi : *(Bloomberg) -- The dollar rose for a second day against the euro on speculation a drop in oil prices

    will support growth in the world's largest consumer of the fuel. NICE. IT IS ABOUT TIME TO INVEST THOSE

    PETRO $ 8-)

    [10:33:21] russy : eu has being in tight range..............

    [10:36:26] bros1234 : guys 2day seems not a good day for trading

    [10:40:12] russy : ye, the session looks drabby

    [10:40:34] eugen3000 : Stal, both your trades usdchf and usdcad from friday hit also your 2nd target, amazing, great job!

    [10:42:49] russy : stal, cable seems on the way to the north...........wat do you think

    [10:46:38] bros1234 : Because the markets are largely sitting on key support and resistance levels right now it makes

    technicals much more important and critical than some of the fundamentals we may normally be interested in. Market

    sentiment at these levels can be extremely v

    [10:49:56] Stalion : glad you noticed,eugen....hope you made some money from those trades?

    [10:50:33] bros1234 : am out for now...will be back during newyork session

    [10:51:33] eugen3000 : yes, thanks, Stal!

    [11:08:57] bros1234 : ii like u fxjedi

    [11:10:17] bros1234 : if not that u will lower rates i would have voted u take over from ben benanke

    [11:10:56] fxjedi : nothing there,bros1234,its just news feed

    [11:11:10] bros1234 : i know

    [11:16:32] bros1234 : fxjedi i will giive u my sister...cmon man keep t coming...ts wat i enjoy

    [16:53:37] Stalion : bye guys...eurjpy is now at is still 161.41...from what i sent in ur mail this morning..

    [16:53:59] paulsimon : sent in email?

    [16:54:06] paulsimon : stallion am not getting anything in my email

    [16:54:25] tundope : wuts the sl

    [18:01:21] Stalion : TARGET HIT!!!

    [18:02:17] Stalion : target hit @ 161.41 as predicted on the EURJPY!!

    forexgreenland dot com

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    Conversations With Forexgreenland Reloaded Pt 2

    [08:51:15] Stalion : hi fellas

    [08:51:22] paulsimon : hi stallion..

    [08:51:31] Stalion : Buy EURJPY @ 161.45

    [08:51:47] takbal : hi all

    [08:52:18] paulsimon : stallion can we enter at market price..

    [08:52:32] paulsimon : or 161.45 + spread

    [08:52:49] Stalion : TARGET @ 161.87

    [08:53:33] Stalion : 2nd target @ 162.00

    [08:53:57] Stalion : 40 pips behind, as usual

    [08:55:13] Stalion : Morning, caprica...

    [08:56:34] caprica1 : hey Stal, I got in at 141.46. If I set my T/P to 162, san I set a T/S at 161.87? Which is about 41

    pips I think.

    [08:56:57] caprica1 : i got in at 161.46. Sorry typo.

    [08:58:16] wilmart : Morning,stallion

    [08:58:39] Stalion : no probs...if u got in at 141.46, then 141.06 should be ur sl

    [08:58:51] Stalion : Hi there, Wilmart...

    [08:58:56] Stalion : howz it going?

    [08:59:29] Stalion : i mean, 161.06 as ur sl, at 40 pips away

    [09:00:01] caprica1 : yeah I got the S/L at 141.06. Just wondering if I can set a trailing stop at the 1st target point?

    [09:01:42] caprica1 : never mind. stopped out!

    [09:01:47] takbal : eur IFO

    [09:02:39] Stalion : dat bad?

    [09:02:44] caprica1 : oh my lord. What happened there?

    [09:03:07] paulsimon : look at eur/usd.. new low

    [09:03:10] wilmart : really

    [09:03:54] caprica1 : is it gonna bounce back up,ya think?

    [09:03:59] takbal : 94.8 instead 97.1

    [09:04:15] Stalion : hmmmmm....

    [09:05:01] caprica1 : summat has got to have happened to make it drop like that so quick.

    [09:05:07] caprica1 : any news?

    [09:05:45] Stalion : report all red for the euro

    [09:06:38] paulsimon : 100 pips..fall

    [09:06:50] caprica1 : and it's still dropping. All the EUR charts had a big drop around the same time.

    [09:07:24] bros1234 : news is not ur friiend

    [09:07:26] orkinv : any news

    [09:09:39] caprica1 : 2008.08.26 10:02:24 PRESS RELEASE: SEB: Nordic Outlook: On The Cusp Of A Global

    Recession - Sharp Interest Rate Cuts In Europe

    [09:10:12] wilmart : ok

    [09:11:31] Stalion : Germany is in deep turd

    [09:11:55] orkinv : wow

    [09:12:21] caprica1 : lol. Turd! I've not heard that word used for years. lol

    [09:13:41] Stalion : lol....euroyen might as well go down to 160.12..if care's not taken...

    [09:14:10] paulsimon : 160.15 is dailyfx's recommended buy point

    [09:15:34] Stalion : hmmmm, dats the support region

    [09:18:05] wilmart : welcome masif

    [09:19:58] Stalion : some traders might hold out their losses till it reaches 160.12 and wait for price to reverse back to

    where they entered earlier....anything lower than 160.12 is a sure thing sign that your trade aint working and you should

    get out...remember, guys

    [09:20:53] Stalion : no 100% perfection in trading, like in or any unforseen circumstances can turn ur plans

    upside euro's

    [09:22:17] paulsimon : u cant win them all.. its all good for equilibrium

    [09:22:24] caprica1 : yeah me 4. Stopped out like a mutha!

    [09:22:56] Stalion : its better....40 pip loss feels more soothing than 150 pip loss, right?

    [09:23:14] paulsimon : yea.. most definitely..

    [09:23:26] masif1 : agreed stalion

    [09:23:30] wilmart : yeah...

    [09:23:41] paulsimon : i just hope we can earn it back today..

    [09:24:02] orkinv : yes ooo

    [09:24:05] orkinv : agreed

    [09:24:31] Stalion : but if you have a large account, you can ride it out and wait for price to go back....with calculated

    risk, i mean

    [09:24:37] orkinv : we will paul

    [09:24:52] wilmart : sure

    [09:26:45] Stalion : any bets that the UK BBA Mortgage Approvals would come out positive by 9.30a.m?

    [09:29:06] wilmart : Uk BBA seems a no trade lol

    [09:29:27] masif1 : lol

    [09:30:12] Stalion : 1 minute to go.....if no trade, den euro decline might fizzle out before d 160.12 region....if a positive

    report, we might likely see a turnaround..

    [09:31:41] orkinv : ok stalion we are here

    [09:31:56] caprica1 : the tension! lol

    [09:32:05] masif1 : hi all

    [09:32:50] masif1 : got in on the eurjpy at 160.63

    [09:33:02] bros1234 : news messed up eu and dragged gu with it

    [09:33:14] masif1 : s/l at 160.23

    [09:33:15] Stalion : no trade.....the same data came out on the BBA Mortgage Approvals

    [09:33:21] bros1234 : we go back to the charts now

    [09:34:33] Stalion : govt interventions(central banks), news releases tends to disrupt the orderly flow of the charts once in

    a while....anything can happen,guys...

    [09:35:08] bros1234 : Expected the unexpected

    [10:16:24] russy : stalion has ej bottom out

    [10:25:16] Stalion : if its indeed bottomed out, we put a buy stop @ 160.72...1st target @ 161.20...2nd target @

    161.58...40 pip stop loss away...

    [10:28:53] russy : stalion . a buy stop @160.72? is that not far from market price . pls i m new to this

    [10:29:40] paulsimon : yea, only at that level can u confirm an upward bias

    [10:30:20] paulsimon : stallion ill handle this

    [10:31:32] tahiti : Thanks PS. What sort of limits and stops are typically used?

    [10:34:02] paulsimon : there is a buy stop signal

    [10:36:08] Stalion : the buy stop is used wen u anticipate that the market price is going towards ur bias....our bias now is

    bullish, since we feel the market has bottomed 160.72, it would have to break 3 pyschological resistance barriers

    at dat point...

    [15:09:06] Stalion : mixed red report card for US in this New York Session


    [15:21:37] russy : euroyen is close to day's call

    [15:22:09] eugen3000 : 160.72 + spread as always right stal?

    [15:22:09] paulsimon : well its hit 160.75.. so now is a time as good as any to enter

    [15:25:02] r2r : looks good Stalion

    [15:25:24] paulsimon : did u enter r2r

    [15:26:20] paulsimon : did anyone enter the trade or am i the only one like last time..

    [15:26:35] r2r : i am in

    [15:27:57] takbal : me too

    [15:28:03] paulsimon : ok..

    [15:28:31] r2r : be ready to ditch if it doesnt break 78 region#

    [15:31:03] eugen3000 : i am also in at 74

    [15:31:59] paulsimon : im in at 67

    [15:33:20] paulsimon : ok, almost near

    [15:34:25] takbal : looks promising

    [15:34:52] paulsimon : it touched 79

    [15:35:05] paulsimon : and there she goes

    [15:35:13] takbal : its 83 at me

    [15:37:58] wilmart : its really riding high

    [15:51:28] Stalion : going higherrr.....

    [15:52:15] Stalion : trying to break resistance at the eurjpy 160.97 zone

    [15:53:11] Stalion : broken step higher

    [15:56:24] russy : stalion wat resistance are u talking about

    [15:58:21] r2r : i cudnt bare to look, how is it?

    [15:58:28] Stalion : it should break dat resistance....many traders are looking to take roll back their profits at the entry

    point in the morning before the least,, dere shud be more buying by now

    [16:16:06] tundope : we shld start celebratin now stal

    [16:26:46] masif1 : well done Stalion

    [16:28:48] Stalion : we are looking to break even on our 1st 40 pip loss in the morning...1st target shud give 48 pips..

    [16:29:18] Stalion : 8 pips higher dan our 40 pip loss in d morning

    [16:29:24] takbal : I think it is hit already

    [16:29:49] wilmart : iT HIT THE FIRST TARGET

    [16:31:08] r2r : congrats Stallion

    [16:31:21] r2r : i think i am all pipped out for today

    [16:31:30] r2r : see u 2moro, tired

    [16:32:16] Stalion : yes...I forgot

    [16:47:41] orkinv : i just checked and it hit the target
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    Conversations With Forexgreenland Reloaded Pt 3

    [08:42:58] Stalion : Helloo everyone

    [08:44:35] paulsimon : thanks guys.. i finally got back my initial investment today..

    [08:44:45] Stalion : lol...

    [08:44:52] paulsimon : and from today on , im gonna be a disciplined trader..

    [09:01:06] caprica1 : is 160.72 still the re-entry point on euroyen then?

    [09:03:06] Stalion : yes....dats for the one we entered yesterday morning after getting stopped out...we chill out and

    watch the market moves

    [09:04:31] caprica1 : if i can get the 40 pips back from yesterday stal, i'll go get my hair cut! lol

    [09:05:04] caprica1 : any more than 40 pips and I'll get a back wax!

    [09:06:53] Stalion : wat r u saying, caprica?seems u didnt breakeven with us yesterday?

    [09:07:08] Stalion : where were you wen we hit 1st target?

    [09:09:05] caprica1 : naa, i took the first trade you mentioned and got stopped out. I had to go to work then, so missed

    out on the next trade. Not in work today though.

    [09:11:20] Stalion : ohh,okay

    [09:18:40] Stalion : is dere any news out on d euro?

    [09:18:49] Stalion : or gbpusd?

    [09:19:42] takbal : there were import prices this morning on EUR, came out as expected

    [09:20:58] takbal : no news on GBP or USD, durable goods at 12:30 today

    [09:21:32] Stalion : cool

    [09:23:38] Stalion : for now, we stay out of the market till we know wats really cooking behind d scenes....

    [09:25:53] caprica1 : sounds good to me Stal

    [09:26:55] takbal : OK

    [09:27:10] bros1234 : masif1...watching the charts...hi stal

    [09:28:21] Stalion : though i've got a buy bias on gbpusd,waiting for it to climb up to 1.8510....we wait for a good entry

    [09:28:28] Stalion : helloo there,bros1234

    [09:37:12] bros1234 : gu(gbpusd) might range for a while

    [09:54:14] Stalion : so, for d gbpusd, a good buy entry would be point @ 1.8510...

    [09:55:59] caprica1 : OK, I'll keep an eye on that now Stal, and see what happens.

    [09:56:32] paulsimon : ok..

    [09:58:06] caprica1 : do you think its worth while placing a pending order for the entry, or just watch it?

    [09:59:00] paulsimon : watch it.. looks like its gonna hit it soon

    [10:01:35] caprica1 : 40 pip stop as well on that one?

    [10:03:02] Stalion : whats the reward ?as in the number of pips from entry to target?

    [10:03:59] paulsimon : 42

    [10:04:43] caprica1 : yeah 42.

    [10:04:54] Stalion : so a 40 pip stop loss is in order....we are on a 1;1 risk to reward ratio

    [10:05:11] Stalion : if the buy stop gets triggered at 1.8468

    [10:06:07] caprica1 : ok. Cheers. So we set our stop at the difference between entry and 1st target?

    [10:08:33] Stalion : yes...and no....caprica...we set our stop loss relative to how many pip reward we want to make on the trade...does not necessarily mean it has to be the difference btw entry and target...

    [10:09:57] Stalion : its like we are risking 40 pip stop loss to get a 42 pip reward on this cable trade...dat makes it

    approximately 1:1

    [10:11:14] caprica1 : ok

    [10:11:16] Stalion : if our target range is like maybe 80 pips, on a 40 pip stop loss, we are risking 40 pips to make 80

    pips...dat is a 1:2 risk to reward ratio

    [10:13:03] caprica1 : i understand now.

    [10:13:12] Stalion : so dat even if you lose on the first try, you can breakeven on reentry if sure ur on d right side....on the

    80 pip, 1:2 risk to reward ratio, if u lose out on the first try, d second reentry would likely bring u 40 pips to cover up on

    d first loss

    [10:14:11] Stalion : risk mgt is very important when trading d lmarkets...

    [10:17:55] Stalion : so we always apply risk mgt BEFORE entering a trade....having the right strategy is not enough for

    we only have so much money to commit on a trade

    [10:18:05] bros1234 : am still buy biased today though on gu

    [10:20:18] Stalion : with a 40 pip stop loss behind

    [10:20:31] teressa : HI sTAL

    [10:20:40] Stalion : helloo there teressa

    [10:20:43] gilly : on what timeframe do you trade?

    [10:21:22] Stalion : I look at ALL timeframes wen trading...

    [10:21:27] bros1234 : range range range...somethng will soon pop out

    [10:21:59] Stalion : but as we are on intraday trading, its simpler to focus on the hourly, 15 min and 5 min timeframe

    [11:26:41] masif1 : did we have a second target for cable?

    [11:27:16] Stalion : remeber guys, 1.8510 for 1st target...1.8522 for 2nd target

    [11:29:09] caprica1 : the eurjpy i getting close to the re-entry point as well Stal.

    [11:29:41] Stalion : lets wait n see, mon this business, anything can happen...d storm is not yet over..

    [11:30:37] caprica1 : 160.72 re-entry target paulsimon

    [11:34:37] caprica1 : whats the dirty little thing doing to us now? Thats the wrong way. Everyone think up at the same

    time, and we can move it with thepower of our minds. lol

    [11:35:55] Stalion : do I smell tension in u,cap?

    [11:36:26] caprica1 : you've got an amazing sense of smell from all the way over there! lol

    [11:36:43] bros1234 : patience we ar going up

    [11:37:47] r2r : usd news in 2 hours might propel the price up

    [11:38:04] r2r : core durable goods orders

    [12:37:13] paulsimon : ok good she's coming home to me

    [12:38:21] r2r : come to papa

    [12:40:52] caprica1 : go cable, go cable, go go go go. Go cable, go cable.

    [14:05:23] Stalion : Economists expectations on the US news were lower than the previous...but wen the actual reoprts

    came in, it was higher dan expectations...dat fueled d dollar rally and brought GBP down

    [14:05:33] Stalion : stopped out ...

    [14:05:58] Stalion : not yet, masif....we are on standby...for now, only euroyen trade is on...

    [14:06:06] caprica1 : we still gonna keep the targets the same for the gbp trade if it happens stalion?

    [14:07:23] Stalion : remember, if gbpusd confirms its downtrend, we should also be looking to profit from dat

    need being mentally rigid...dats intraday trading for u

    [14:07:53] caprica1 : of course.

    [14:10:54] Stalion : yes.....we follow trends with calculated risks...not blindly...dats why we need patience to allow d trend unfold

    [14:12:23] Stalion : the extreme results from dat is either leaving profits on the table or having unnecesssary losses

    [14:14:57] caprica1 : understand. I'm still learning Stal.

    [15:04:07] Stalion : time to sell gbpusd

    [15:05:04] paulsimon : ok ready..

    [15:06:29] eugen3000 : finger crossed ;-)

    [15:06:51] paulsimon : did u mean sell at market or shd we wait for ur signal

    [15:07:00] caprica1 : sell?

    [15:07:44] Stalion : yes....we put a sell stop @1.8395, target point @ 1.8351

    [15:14:40] caprica1 : rite.

    [15:14:44] tundope : g/u shld fall to as low as 1.8328

    [15:14:49] Stalion : if price breaks our sell stop on its downward move, dat means d bearish momentum is confirmed

    [15:23:03] paulsimon : sell triggered

    [15:24:25] Stalion : cable sell stop triggered

    [15:27:45] caprica1 : damn it my compter froze. Didn't get in until 1.8392.

    [15:29:00] Stalion : how come,cap?

    [15:29:36] Stalion : thought u wud've left a sell stop pending order in place

    [15:31:25] r2r : what effect would crude oil inventories have on usd?

    [15:32:10] caprica1 : when I place pending orders I must be doing it wrong, because it doesn't trigger the order, it just

    closes the pending order.

    [15:33:03] Stalion : Change in the number of barrels of crude oil held in inventory by commercial firms during the past


    [15:33:09] Stalion : No clear effect, there are both inflationary and growth implications;

    [15:36:48] r2r : -0.1% actual

    [15:36:48] Stalion : now, d fireworks start again

    [15:48:31] Stalion : looks like as euroyen is going up, gbpusd is following

    [15:48:46] paulsimon : shall we get out

    [15:51:45] Stalion : not yet...

    [15:51:47] Stalion : brb

    [15:51:58] r2r : if it retraces beyond 18421 my reason to be short is invalidated

    [15:51:58] caprica1 : do the longer charts not still show a short trend for GBPUSD Stal?

    [16:01:25] tundope : ride on g/u

    [16:01:40] Stalion : we need to have d discipline and patience to stick to our trading plan...

    [16:03:03] r2r : come on down!!

    [16:04:59] tundope : wuts ur 2nd target on d trade stal?

    [16:05:41] Stalion : easy, r2r......

    [16:06:07] Stalion : no need to scream at d keyboard...

    [16:07:37] r2r : lol

    [16:08:53] Stalion : i believe d 1st target was 1.8351

    [16:09:42] tundope : yep

    [16:09:49] tundope : av u got a 2nd target

    [16:09:57] caprica1 : is there a 2nd target?

    [16:10:08] masif1 : nearly there

    [16:10:09] tundope : 328 shld be ideal

    [16:11:20] Stalion : 2nd target is 1.8338 on the cable

    [16:13:11] tundope : though i still expect it to go lower

    [16:14:05] eugen3000 : would you suggest to move sl 20 pips lower to 1.8415, Stal?

    [16:16:28] takbal : target hit

    [16:16:33] masif1 : first target hit!

    [16:16:53] Stalion : how many pips are we at now,eugen?

    [16:17:13] eugen3000 : 44

    [16:17:21] r2r : yum yum

    [16:24:19] caprica1 : still waiting for ej trade to break out of its little level it's in and hit 2nd target.

    [16:25:14] Stalion : 1st target hit....2nd target hit on the gbpusd...

    [16:28:24] masif1 : yipee!

    [16:28:25] Stalion : any doubts now,masif?

    [16:28:37] masif1 : made some money today

    [16:28:40] caprica1 : cool just hit 2nd target

    [16:29:10] eugen3000 : thank you Stalion, made back up my losses from today morning, thank you again!

    [16:29:21] masif1 : 1.8324

    [16:29:22] eugen3000 : + some extra cash on the 2nd target, hihi

    [16:30:48] caprica1 : after this mornings loss I'm 15 pips up on the day.

    [16:50:25] caprica1 : on a plus note my eej trade closed out, +50 pips, so thats +65 pips for the day. Muchas Gracias
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    Helloo everyone, hope you'all having a great weekend..We didnt post any profits Thursday and yesterday due to the fact

    that the dollar pushed the euro and other currencies lower yesterday after the second quarter GDP surprised on the

    upside against expectations. After some considerable low volume range trading(attributed to the upcoming US Labour

    Day weekend), the dollar rebounded on the GDP news, but it couldn't hold onto the gains, as the euro and the rest of the

    majors mounted a comeback in the overnight markets.Bottom line, we scratch off those trades and say NEXT!!.

    Hey, someone sent in this letter...dont know if you cud help...
    This is the message that was sent:
    Hi, I didn't want to use up the space in your thread so I thought I'd ask you privately where can I get the Jacko Trend indicator? I've looked in the Jacko's House of Pleasure and Pain thread at forexfactory but didn't find it. Thank you for any help. Anonymous.....
    forexgreenland dot com

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    Quote Originally Posted by TheRumpledOne View Post

    I wrote the Jacko Trend indicator based on Jacko's definition of trend:

    Jacko's House

    If you "check me out", you'll find out how to get the indicator.


    I hope this is clear to the reader.
    To get my indicators like the Jacko Trend:


    along with over 100 other indicators, are sent, as a thank you, to people who have made a donation. You also recieve

    updates and new indicators when they are available.: [email protected]

    [13:49:15] Stalion :sell stop for gbpusd @ 1.7982, 1st targget @ 1.7946

    [14:07:05] Stalion : price on the gbpusd and usdjpy are still on a range on this Monday afternoon...low volume activity

    today due to holiday season..chances of making profits from a breakout unlikely

    [14:19:53] klho83 : Hi Stal the trade calls still valid or not totrade

    [14:22:58] klho83 : As you said chance of making profit is unlikely,so better not to take the trade

    [14:25:03] caprica1 : i've still got my pending orders for the gu pair.

    [14:25:38] fxjedi : me too

    [14:26:51] caprica1 : althugh my original trading balance of £300 is now down to £51. I may have to deposit some more

    money I think.

    [14:29:06] masif1 : stalion - no the trade had not triggered

    [14:33:06] caprica1 : its gone up alot since this morning

    [14:42:33] klho83 : crude oil drop to 112.83

    [14:47:03] caprica1 : looking at the stochastics for the uj, it looks like it's over bought. Does that soundabout rite?

    [15:07:15] caprica1 : tottenham accept £30 million biid for berbatov from.....Man City!

    [15:14:03] caprica1 : how come all the jpy pairs have spiked? Has there been some news?

    [15:38:52] masif1 : all the gbp currency pairs gapped this morning

    [15:49:36] Stalion : yep...including usdjpy....

    [15:49:58] Stalion : jus leave your pending orders in place, its only a matter of time,guys

    [16:00:54] caprica1 : gbpusd sell stop just been riggered.

    [16:03:00] eugen3000 : mine has not been triggered

    [16:04:58] caprica1 : how'd set you up eugen?

    [16:09:46] eugen3000 : sell stop at 1.7982, the lowest low at mb trading was 1.7984

    [16:10:41] takbal : I see the same as eugen

    [16:11:01] takbal : Stalion's entry level was not crossed yet

    [16:11:30] takbal : actually, the price bounced from there, showing that it is important...

    [16:12:11] caprica1 : I'm with alpar, the low of 1.7982 was triggered.

    [16:13:34] eugen3000 : i see cap, stal is also at alpari???

    [16:14:31] takbal : maybe you should add a couple of pips to the trade in the future...

    [16:16:27] caprica1 : if Stal is with Alpari, and he uses their prices, I may as well stick with it.

    [16:22:52] eugen3000 : brb

    [16:28:52] caprica1 : i'm almost stopped out again.

    [16:30:37] masif1 : i've triggered on the short on GBPUSD

    [16:31:18] caprica1 : i'm gone. Just stopped out.

    [16:31:33] masif1 : f*** we got stopped out
    sell stop@ for gbpusd @ 1.7982 target 1st target @ 1.7946

    [16:31:40] masif1 : -40pips

    [16:32:24] masif1 : ok guys i is outta here

    [17:08:14] takbal : interesting - on my platform the price increased only 38 pips

    [17:10:30] albashir : salaaam.....Ramadan Kareem to all....

    [23:36:36] takbal : Staliol thanx for the GBPUSD today, it was a great call...

    [23:37:47] takbal : I truly wonder what is the trick to predict moves like this

    [23:38:42] takbal : must be some simple unwritten rule which everybody agrees on...

    [23:39:58] eugen3000 : great trade with the gbpusd sell, thank you, im going to sleep now, bye

    [08:40:20] masif1 : salaams all

    [08:40:49] masif1 : hey takbal which gbpusd call are you refering to?

    [08:41:22] masif1 : [22:36:36] takbal : Staliol thanx for the GBPUSD today, it was a great call...

    [08:48:52] Stalion : hi traders..Good Morning on a lovely teuday

    [08:49:51] Stalion : hope you made like 36 pips from gbpusd call yesterday on our sell

    [08:50:56] eugen3000 : yes, exactly 35 pips for me

    [08:51:11] eugen3000 : are the other signals still valid stal? i mean the usdjpy

    [08:51:36] Stalion : i knew it took a while but well, we had to have a little patience,guys...

    [08:51:44] masif1 : stalion both cap and I got stopped out on the gbpusd short yesterday and therefore lost 40pips

    [08:51:59] masif1 : around 1531 yesterday

    [08:54:56] masif1 : hello?

    [08:55:44] Stalion : how come?

    [08:55:50] Stalion : how come, masif? at 15.31, the sell stop trigger have not been hit...

    [08:56:05] Stalion : @ 1.7982

    [08:59:27] Stalion : u didnt add your 3 pip spread, did you?

    [09:01:57] masif1 : your right stalion

    [09:02:10] masif1 : we didnt add the 3pips spread

    [09:02:19] masif1 : we are both using alpari as well

    [09:20:10] takbal : hi guys

    [09:20:26] takbal : masif I refer to the GBPUSD at 1.7982

    [09:20:57] takbal : for me it was triggered at around 11pm

    [09:30:29] Stalion : sorry i didnt have the chance to give you guys the rest of the targets on gbpusd...cable is likely going

    down to 1.7592

    [09:30:49] Stalion : i'm doing the analysis in a moment to get a good entry

    [09:40:05] fxjedi : hi all

    [09:40:43] fxjedi : thanks stal, for the cable call yesterday,

    [09:41:17] fxjedi : never knew i cud bank up to 35 plus pips after the boring moments

    [09:45:31] fxjedi : Australia cuts interest rates for first time since 2001 Australia's central bank has cut interest rates for

    the first time in seven years as a housing slowdown threatens to bring economic growth to a halt.

    [09:46:49] Stalion : any news on the gbpusd?

    [09:48:45] takbal : there was one at 8:30 GMT, UK PMI construction 40.5 vs 36 exp

    [09:48:55] takbal : but no reactions

    [09:50:54] takbal : Stalion what do you think of EURGBP? We have our saving in GBP which we want to use in a

    euro-related currency later...

    [09:51:22] fxjedi : EUR, GBP being sold by Europe investors as concerns over economic slowdown in Europe linger,

    says trader at Tokyo securities company; "unless very good news related to the European economy crops up, players

    won't likely buy back the euro and the pound."

    [09:51:25] fxjedi : Focus now on Europe stock, crude oil price moves. Adds it seems some players have already started

    selling EUR, GBP to adjust positions ahead of BOE, ECB rate decisions this week.

    [09:51:36] takbal : and I am finding an entry point to place a long-term hedge against further weakening as it looks


    [09:54:17] Stalion : yeah....seems everyone's selling euros and gbp....

    [09:59:30] takbal : yep, but I am interested in the trade between the two... as I need my GBP later converted into EUR

    [10:13:27] Stalion : sell stop for gbpusd @ 1.7840,1st target @ 1.7659

    [10:13:57] Stalion : 2nd target @ 1.7592

    [10:17:41] Stalion : hi takbal....on the EURGBP pair, price might likely reach up to 0.8254 before going back down...

    [10:18:35] takbal : thx Stalion a lot!

    [10:19:15] Stalion : no probs....had to take it from the monthly timeframe, so it might take a lil while before it gets fulfilled'

    [10:19:59] takbal : sell triggered

    [10:21:42] Stalion : cool

    [10:23:42] Stalion : lets get ready to rock in roll ,guys.....36 pips yesterday....more than a 100 pips going down for now,


    [10:24:12] klho83 : thx stal

    [10:26:28] takbal : only fundamental risk is some minor USD news at 14:00 GMT

    [10:29:57] takbal : whoo... you are right, again

    [10:34:30] takbal : Stalion how sure are you on this call? It is a huge R/R so I am curious whether to risk more and add

    to the position

    [10:51:49] fxjedi : looks like gu is still going down to stalion's target

    [10:52:38] takbal : is yet almost 150 pips away!

    [10:54:43] fxjedi : am getting pretty much exciteds, tak,150 pips in just 1 day?

    [10:55:30] takbal : looks like Stalion thinks its possible...

    [10:57:07] fxjedi : lol, from experience,anything is possible in fx,tak

    [11:01:03] Stalion : hi takbal, am quite sure on this call, though nothing is 100% perfect in trading...our risk to reward

    ratio is 40:181, which translates to 1:4.5
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    Quote Originally Posted by mason View Post
    hi mate
    how can i get that jacko trend?
    Quote Originally Posted by paradoxical View Post
    Is this AKA Rumpled One, Code Muncher, and who knows how many other aliases?

    The same one who posts meaningless indicators and drivel all over forex land, attempting to impress anyone who'll

    Hi paradoxical, its not polite to talk about someone that way. A chap requested for help and he was the only one that

    offered to willingly assist. For that, I think he's a nice bloke, even if I'm just knowing him. If you got any grouse against

    him, its better to meet him personally and settle it. For me, its all about making money from trading.

    [14:01:34] Stalion : hi all

    [14:05:43] Stalion : like we said earlier, price on the gbp pairs are looking to go down around the resistance area, we

    should be preparing to go short

    [14:10:39] eugen3000 : ok stal, im also short biased, but not in any positions as of now

    [14:11:06] takbal : the same here

    [14:13:41] eugen3000 : sounds great

    [14:18:17] takbal : Stal do you think it will drag up EURGBP as well? or eurusd is going to fall? any of them should if gu

    goes down...

    [14:48:19] masif1 : which one we short on?

    [14:52:07] eugen3000 : not yet masif

    [15:00:10] Stalion : we sell gbpusd @ 1.7800, 1st target @ 1.7770

    [15:02:14] caprica1 : 40 pip stop?

    [15:03:42] Stalion : 30 pip stop...for 1;1 risk to reward ratio

    [15:04:17] Stalion : To clarify on management of our trades so we dont give away profits....

    [15:05:08] Stalion : please take half profits when the trade is 20 pips in your favour...then put your stop loss to entry...

    [15:06:29] Stalion : i've said it before and i'll still say it again ...lock your profits after +20 pips, so at least you leave away

    with gains at the end of the day..

    [15:07:56] masif1 : did i miss the trigger

    [15:07:58] eugen3000 : sounds good for me Stal!

    [15:09:02] masif1 : i take it i got the alert too late

    [15:09:46] eugen3000 : you are Stal, +20 locked in, sl at be at the rest, thank you!

    [15:10:29] Stalion : like our pal, masif...hope you understand....even if you are using just 1 minilot,close 0.5 off when +20

    pips in profits, then allow the rest to ride...if 2 minilots, take 1 minilot off, den allow the other 1 minilot to ride...WHILE

    putting your sl to ini

    [15:10:45] caprica1 : yeah got here too late. Never mind. Always another trade.

    [15:11:48] caprica1 : or can I put a sell stop on it?

    [15:13:36] Stalion : 2nd target should be 1.7761

    [15:14:06] Stalion : 3rd target should be 1.7735

    [15:14:52] caprica1 : can I get in @ 1.7761 with a first target of 1.7735 then stal?

    [15:17:06] Stalion : am not sure, cap, until the first target is hit...remember your risk wud be higher since you didnt start in


    [15:19:56] caprica1 : got you stal.

    [15:21:11] Stalion : 3 more pips to go to our 1st target of 1.7770

    [15:23:07] Stalion : 1st target hit..!

    [15:23:18] masif1 : thanks stal understood

    [15:24:30] Stalion : 2nd target to go @ 1.7761

    [15:24:35] caprica1 : no probs

    [15:25:48] Stalion : remember masif, if you are now at +20, kindly take off half profits for now...

    [15:25:52] Stalion : 2nd target hit!

    [15:26:32] Stalion : 3rd target to go @ 1.7731

    [15:27:03] klho83 : Targat 2 hit

    [15:27:46] masif1 : damn it

    [15:27:51] masif1 : missed that as well

    [15:27:57] eugen3000 : super!

    [15:28:05] caprica1 : has the price just gone through the 64% fib Stal?

    [15:29:10] Stalion : dammit, masif....ur breaking ma heart again with ur tears emoticon...dont tell me u lost again!!!

    [15:29:29] masif1 : nope didnt get in the trade

    [15:29:40] masif1 : both the first call or the second

    [15:29:47] Stalion : 64% fib? i dont understand, cap...

    [15:30:39] masif1 : close to hititng the thrid target

    [15:30:45] Stalion : 6 more pips to our 3rd target point

    [15:31:05] caprica1 : i have put fib lines on my chart from yesterday's low and high, and the price has just gone past the

    64% fib line.

    [15:31:35] caprica1 : Stal I entered oon the 2nd target and used 3rd as my 1st. Just hit. Thanks.

    [15:31:56] Stalion : way to go, caprica....

    [15:32:12] Stalion : 3rd target hit!

    [15:32:12] masif1 : well done cap

    [15:32:21] masif1 : i was too late for both

    [15:32:35] caprica1 : muchas gracias senors

    [15:33:32] Stalion : 69 pips for now....

    [15:33:52] caprica1 : for now? like the sound of that. lol

    [15:34:41] caprica1 : it still looks like its heading for the overnight high of 1.7706

    [15:34:46] caprica1 : overnight low sorry.

    [15:35:00] Stalion : well, we havent closed all trades yet...putting a 15 to 25 pip trailing stop loss would be prudent

    [15:36:03] caprica1 : i closed out at the 3rd target point.

    [15:36:17] masif1 : trailing stop loss - thats a good idea ;-)

    [15:36:20] Stalion : 4th target @ 1.7705

    [15:36:26] masif1 : hey i'm smiling :-)

    [15:36:51] Stalion : 5th target @ 1.7676

    [15:36:53] caprica1 : it's certainly going for that .7706 number

    [15:37:22] caprica1 : a 5th target!

    [15:37:49] masif1 : fantastic guys - thats nearly 100pips!

    [15:38:19] Stalion : yea....why leave money on the table if price looks like its going to give some more...cap?

    [15:38:30] masif1 : i didn;t get in on the second so i'm just sitting by the side lines cheering you guys on

    [15:38:44] Stalion : jus apply ur profit mgt strategy and lock in at every step...

    [15:38:46] caprica1 : it's just retraded back to .7734, maybe I could get back in

    [15:39:35] Stalion : worst scenario, you come out breakeven...

    [15:40:18] caprica1 : yep. So i get in at market and ride to 5th target?

    [15:41:06] masif1 : you in cap?

    [15:41:35] caprica1 : not yet, stupid iphone! lol

    [15:41:35] Stalion : opportunities like this dont come everyday in the markets, masif...but when it does come, you got to

    be ready for it and milk it for all its worth..

    [15:43:00] caprica1 : its doing its best to go back up.

    [15:43:48] Stalion : well, cap, you could put a sell stop below a pychological number like 1.7750 or 1.7735,or 1.7720,

    then ride it down...

    [15:45:05] caprica1 : so may be 1.7734 maybe?

    [15:47:21] caprica1 : I'm not gonna chance it. I can't control the trades properly on the iphone. My guy is telling me not

    to chance it.

    [15:47:34] caprica1 : So i'll be happy with my pips so far, and fight another day.

    [15:48:54] caprica1 : that was meant to say my gut is telling me not to chance it.

    [15:51:11] Stalion : yea....momentum is kind of slowing down , after dat 69 pip downpour

    [15:56:27] Stalion : its only a matter of time though, before price on the gbpusd gets down to our 4th and 5th

    target...momentum might now be slow, but it should get there...

    [16:00:03] Stalion : Prices, like everything else in Nature, will stop sinking only when they reach rock bottom against

    which to push off back up.

    [16:12:07] masif1 : gbpusd still going down

    [16:13:03] Stalion : 4th target hit!!

    [16:16:14] masif1 : damn missed out on on these pipsstalion can you please send me the email alerts to my

    email address please?

    [16:19:03] masif1 : 5th target hit and still going down!!!!!

    [16:22:34] Stalion : the thing, masif, you are afraid of losses...when a trader allows fear to overcome him due to some

    losses in a row, he tends to shy away from opportunities when they come...fine, we've been stopped out on some of our

    trades but that doesnt mean the next

    [16:23:45] Stalion : one is going to be the same....until we start getting used to losses, we are not there yet...

    [16:24:30] klho83 : i'm out!

    [16:25:22] Stalion : how many pips did you make from our gbpusd call, klho83?

    [16:25:26] masif1 : even for the entry at the 2nd target

    [16:26:40] Stalion : you could've gotten in at our 3rd,4th or 5th targets, masif...though with higher risks..

    [16:27:19] masif1 : your right but the damn account wouldn;t allow me as insufficient funds

    [16:27:30] klho83 : Add along the way i lost count

    [16:32:01] klho83 : Thanks StaLION!!

    [16:32:31] Stalion : masif, am afraid you just missed a 124 pip ride...and still counting with a trailing stop loss
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    Originally posted by forexgreenland:
    [10:13:27] Stalion : sell stop for gbpusd @ 1.7840,1st target @ 1.7659


    [10:13:57] Stalion : 2nd target @ 1.7592[/QB]

    [QB][10:19:15] Stalion : no probs....had to take it from the monthly timeframe, so it might take a lil while before it gets

    forexgreenland dot com

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    [10:00:53] Stalion : BUY STOP ON GBPUSD@ 1.7635, 1ST TARGET @ 1.7713, 2ND TARGET @ 1.7755, 40

    pip stop loss..
    We are looking at approximately 120 pips here,$120 minilot,$1200 standard lots on cable
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  19. #19
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    Originally posted by forexgreenland:
    [QB] [10:00:53] Stalion : BUY STOP ON GBPUSD@ 1.7635, 1ST TARGET @ 1.7713, 2ND TARGET @ 1.7755,


    pip stop loss..
    We are looking at approximately 120 pips here,$120 minilot,$1200 standard lots on cable [/QB]

    Quote Originally Posted by Stuart14 View Post
    Can't win them all Forexgreenland
    Yes, Stuart, nothing is 100% perfect in trading as well as in life..Though we got stopped out on 40 pips, 7 pips less to hit

    our target,we still locked in profits of +20 or more pips along the way..If you noticed, price on the cable(GBPUSD)

    eventually shot through our target points, with more extra pips for good measure.

    Quote Originally Posted by Onwukarisa View Post
    Hello mystikal,

    Please when using MACD for divergences what should i use: the trough that form when red and blue lines cross or the

    histogram of the MACD . Please Advise.
    Onwuka Arisa
    Hi Onwuka, if you observed, we used the MACD Histogram from the 1st chart to ascertain whether there was

    divergence or not. The Macd Histogram told us that price was overbought and buying pressure was reducing, which was

    a precursor to the downward movement on the charts. In order words, MACD Histogram was telling us that the bullish

    momentum was tapering off. There was also a bearish hammer and a trendline break to the downside, telling us to cover

    our longs.
    If I had to choose between the trough that form when the red and blue lines cross(MACD proper) or MACD Histogram,

    I'll choose the Hisogram because it is much faster...Notice from the chart above that MACD was trailing behind its

    Histogram, which would have been quite slow in forwarning us to cover our longs or take profits at that level on the

    Anyways, we learn from our mistakes.

    140 pips less our 40 pips that was stopped out on the 9th, which gave us 100 pips net, $100 minilot,$1000 standard lot

    on Friday.
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    [09:26:43] Stalion : price on the gbpusd looks like its retracing downward from last week's bullish run

    [09:31:46] caprica1 : yeah its going towards the current overnight low

    [09:38:04] Stalion : there's negative MACD divergence to price on the charts...we are looking for a convincing trendline

    break to go short on gu

    [09:54:07] Stalion : SELL STOP ON GBPUSD @ 1.7970, 1ST TARGET @ 1.7875, 2ND TARGET @ 1.7788

    [09:59:54] Stalion : u can put a sell limit on our entry if you came in late or buy at current market price..

    [10:02:40] eugen3000 : limit triggered

    [10:02:44] eugen3000 : hi Stal

    [10:04:20] Stalion : at what price, eugen?

    [10:04:48] Stalion : price is at 1.7991 now

    [10:05:25] eugen3000 : 7970 like you wrote

    [10:06:49] Stalion : yea

    [10:10:35] Stalion : lets sit back and relax, eugen....



    [11:00:00] caprica1 : jot back Stal. Whats this about a sell stop?

    [11:00:06] eugen3000 : did it
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