Review of Strategic Tips on Milking the Major Currency Pairs in Live Forex Trading - page 4
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Black Friday?
[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.
Did anyone?
[qb]
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]You can wish that I'll fail to get
my target.
[/QB]Hey Jarod, you forgot to add ''I wanna have his nuts for breakfast''..
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!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
confirmed.
251.09-148.19= 102.9
0.6*102.9= 61.74
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.
Hello
I happened upon your thread earlier. Are you using price support/resistance in combination
with 1-2-3's, or using 1-2-3's to define targets? Where did you come up with a 40 pip SL?
I ask because it reminds me very much of the factory's forum's price action thread. Are you
involved/posting in there as well?
Are these calls being made live via Skype? I looked at your site but am unable to view
threads. Is this chat room a paid service, or is it free because you are making money from
trading? More information would be welcome
It is good to see you profitable, I would like to see you continue.
Thank youHi 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
yesterday
[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
pips ahead..
[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 @
1.6689...
[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 today
Hello Mystikal,
Thanks for your replies. Another question for you and I hope it will be answered :
1) Please how do you determine your entry points.
2) How do you calculate those your targets ( 1 target, 2nd target and so on).
3) How do you know the number of target a trade or move will have ( whether 1 ,2 or 3
targets).
4) Also,what are the conditions for a 1-2-3 bottom? that is whats the 1 stand for, the 2
and the 3 , what do they all stand for?
5) in your last reply to me, you said "so in this context,2 was a minor low, while the
low of the bearish hammer before the doji, at the last support ,could stand as an
intermediate low." so please whats the difference between a minor low and an intermediate
low
6) What do you mean by a bearish hammer and a "doji"
Expecting A Reply1)
Most traders tend to concentrate on pinpointing the perfect entry for a trade. However, in
reality the entry price is just one part of the equation. The common entry techniques are:
Channel Breakouts
A trend trader will tend to use channel breakouts to enter trades in order to catch a trend
when it is beginning. The general rule is to pick a period length, which could be 20 days
for a long term trader or 15 minutes for a daytrader and buy if the high in that period is
broken or sell if the low is broken.
Visual Entry based on patterns
The art of technical analysis focuses on the many types of chart patterns that markets tend
to form. Such as gaps, spikes, inside days, outside days, triangles, flags and double tops
to name a few. These entries are rather more subjective than channel breakouts.
Pure prediction
Prediction techniques include Elliott Wave, Gann and Dow Theory. Again the actual entry
price based on such theories is very subjective. Predictive techniques usually try to pin
point major turning points in markets and are therefore attempting to go against the current
trend rather than with it.
Volatility Breakouts
The theory behind a volatility breakout is that if the market makes a sudden move in a
particular direction then it is likely to continue in that direction. The general rule is to
add/subtract a pre-determined percentage of the recent average true range to the opening
price thus giving buy and sell points.
Moving Averages
Take the average price of the last x periods (minutes, hours or days) and buy if the price
crosses above and sell if it crosses below. This technique works well in purely trending
markets but will be badly whipsawed in a range bound market. Variations include using 2 or
more moving averages and using the cross of those as a signal. The moving averages
themselves could be simple or weighted (more emphasise on the latest prices).
Oscillators and Stochastics
I.e. RSI, stochastics, Williams %R etc. Generally these tools are used to determine whether
the market is 'overbought' and ready to drop or 'oversold' and ready to rise. They work best
in range bound markets by picking tops and bottoms but fail in a trending market.
(2) &(3)
Since trading is more of an art than a science, its more of the interpretation of the chart
information that just calculations,Onwukarisa..Besides,like I reiterated before,it wont be
to the best interests of my clients and partners if the 'edge' is disclosed in an open forum
due to the risk of fading out by the banks, institutional traders,etc..
Contact me if you are interested in a private one on one coaching on these winning
strategies...stalion@forexgreenland.com
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
Wild swings too hot for traders who chase volatility | Special Coverage | Reuters
[09:35:03 17/10/08] masif1 : stal s/l?
[09:37:04 17/10/08] masif1 : anyone?
[09:37:24 17/10/08] Stalion : sl @ 1.7315...remember our pending stop order is still waiting
to be triggered...
[09:40:31 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
high...cap...
[10:07:58 17/10/08] caprica1 : rite.
[10:09:06 17/10/08] kokowater : ok
[10:11:52 17/10/08] kokowater : i still believe in the short of cable..
[10:12:45 17/10/08] fxjedi : why, kokowater?
[10:14:07 17/10/08] kokowater : we have a good 123 formation on gu looking at 4hrs
[10:17:21 17/10/08] kokowater : i am still holding my short on eu too, i enter so late
becasue i never chekc my 15mins chart for a good entry...
[10:19:36 17/10/08] Stalion : soo?
[10:20:34 17/10/08] Stalion : what does a 123 formation on the 4hr chart got to do with shorting the cable?
[10:20:37 17/10/08] kokowater : soo? how do you mean, stal?
[10:25:16 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 Wink
[08:40:46 20/10/08] enolase : Hi Stal
[08:41:03 20/10/08] Stalion : hi enolase
[08:41:34 20/10/08] Stalion : sorry, woke up late today....had a lot to do...
[08:42:11 20/10/08] Stalion : looks like cable is moving up this morning..
[08:42:12 20/10/08] enolase : no probs
[08:47:13 20/10/08] enolase : well, I guess we just watch for price acions today
[08:47:34 20/10/08] enolase : action bias for GBPUSD on actionforex.com is up
[08:48:47 20/10/08] enolase : ok
[08:49:54 20/10/08] Stalion : we put a buy stop on gu @ 1.7500.1st target @ 1.7525...2nd
target 1.7575
[08:51:06 20/10/08] Stalion : sl @ 1.7425.....take half profits when on +20 pips in your
favour..
[08:51:17 20/10/08] enolase : price has already taken off
[08:51:29 20/10/08] enolase : i am entering right now at market price
[08:52:17 20/10/08] Stalion : why not put a buy limit @ 1.7500
[08:52:23 20/10/08] enolase : ok
[08:52:37 20/10/08] enolase : why a 75 pip stop loss?
[08:55:18 20/10/08] Stalion : 1 because of recent market volatility....enolase...2 because
our total target is 75 pips...so its a 1:1 risk to reward ratio..
[08:56:19 20/10/08] enolase : ok
[08:56:25 20/10/08] Stalion : any high impact news coming out from gbp today?
[08:58:05 20/10/08] masif1 : morning gentlemen
[08:58:35 20/10/08] enolase : none from waht I can see on my Economic calendar
[09:00:21 20/10/08] masif1 : gu @ 1.7500.1st target @ 1.7225 - did u mean 1.7525?
[09:01:43 20/10/08] enolase : indeed the only active News for the week are:
[09:01:53 20/10/08] enolase : BoC Interest rate decision tomorrow
[09:02:11 20/10/08] enolase : BoE Minutes and RBNZ Interest rate decision on Wed
[09:02:20 20/10/08] enolase : UK retail Sales on Thurs
[09:02:35 20/10/08] enolase : and UK GDP as well as BoC CPI on Friday
[09:02:58 20/10/08] Stalion : hi there masif
[09:03:02 20/10/08] enolase : and of course the Fed Chairman testifies tomorrow: may have
some impact on the USD
[09:03:41 20/10/08] masif1 : hi stal
[09:03:55 20/10/08] masif1 : has that gu call triggered?
[09:04:08 20/10/08] masif1 : i hope iut hasnt as gu going down
[09:04:46 20/10/08] enolase : actually Bernanke testifies today
[09:05:07 20/10/08] enolase : so watch out for a dovish statement that may impact the USD
[09:11:14 20/10/08] fxjedi : helloo all
[09:13:34 20/10/08] fxjedi : did i mis any alerts?
[09:16:21 20/10/08] fxjedi : ohh,seen it
[09:42:21 20/10/08] Stalion : looks like gu is still holding up...
[09:44:01 20/10/08] fxjedi : hi stal
[09:44:32 20/10/08] fxjedi : the news was quite in favor of gu,dont you think?
[09:45:59 20/10/08] Stalion : yes,jedi....but only time will tell
[09:56:55 20/10/08] Stalion : hmmmm....
[10:07:01 20/10/08] fxjedi : its like we are on No Man's Land
[10:17:30 20/10/08] masif1 : cable long has triggered
[11:23:46 20/10/08] enolase : waz up?
[11:46:48 20/10/08] Stalion : we got stopped out on the buy order for the gu...
[11:47:02 20/10/08] Stalion : 1 strike out..
[11:47:56 20/10/08] Stalion : so we sell gbpusd on current market price @ 1.7435....1st
target @ 1.7485
[11:49:52 20/10/08] Stalion : sl @ 1.7480
[11:52:32 20/10/08] Stalion : sorry, typo...1st target @ 1.7385
[12:00:25 20/10/08] Stalion : 2nd target on the short side @ 1.7331
[12:03:09 20/10/08] klho83 : Hi Stal
[12:04:21 20/10/08] enolase : yes
[12:05:48 20/10/08] enolase : the signal appeared late
[12:06:23 20/10/08] enolase : on the chat box
[12:06:46 20/10/08] enolase : i think u need to look into it. Not the first time I have
noticed it
[12:08:59 20/10/08] fxjedi : 1st taget hi
[12:09:09 20/10/08] fxjedi : hit
[12:10:09 20/10/08] fxjedi : but the alert didnt come in late,enolase, wen i logged in, no
one was around on the chatbox
[12:10:58 20/10/08] Stalion : hi jedi
[12:13:24 20/10/08] fxjedi : do i put a trailing stop now,stallion?
[12:15:29 20/10/08] Stalion : yes, you are right, jedi...when I posted the short call, it
was on record that none was around...price can move any direction at any moment..so as
intraday traders, we have to be around to adjust and take advantage of price movements..
[12:15:58 20/10/08] Stalion : a 15 pip trailing stop would be prudent, man
[12:16:09 20/10/08] enolase : maybe it was my network
[12:16:37 20/10/08] enolase : anyway, i entered when the price retraced to 1.7410, so i have
no complaints
[12:16:45 20/10/08] enolase : i am also short on the EURJPY
[12:19:39 20/10/08] enolase : and i am also in cruise control on EURJPY
[12:19:41 20/10/08] enolase : wel, i have taken profit in GBPUSD
[12:20:29 20/10/08] enolase : looks like the JPY is gaining some control over the majors,
but we watch and see
[12:24:56 20/10/08] enolase : what a bam bam on EURJPY!
[12:25:13 20/10/08] Stalion : cool...
[12:25:21 20/10/08] enolase : my GU charts froze
[12:25:27 20/10/08] enolase : so i decided not to go further
[12:25:49 20/10/08] enolase : but i just gained some 70 pips on EURJPY
[12:26:09 20/10/08] enolase : at least i have recovered from the earlier GU stop-out
[12:29:26 20/10/08] fxjedi : i made 87 pips from the gu short,putting a trailing stop for
2nd target
[12:29:52 20/10/08] Stalion : thats nice
[13:05:56 20/10/08] enolase : GU dey retrace o!
[13:06:23 20/10/08] enolase : but let's watch it
[13:42:54 20/10/08] masif1 : damn got stopped out on the long and missed the short call Sad
[13:43:29 20/10/08] masif1 : how did you do on the short? make up the loss on the long?
[14:14:32 20/10/08] enolase : masif my man
[14:14:58 20/10/08] enolase : the way the market has been in the last three months, the SET
AND FORGET Strategy is not the best anymore
[14:15:09 20/10/08] enolase : u need to be on your screen
[14:19:53 20/10/08] enolase : the GU 2nd target was triggered
[14:21:17 20/10/08] enolase : so i lost 75 pips on the Long GU trade, then gained 80pips
from the Short trade, then another 70 pips from Short EURJPY
[14:21:27 20/10/08] enolase : not a bad start to the week
[14:26:04 20/10/08] masif1 : WELL DONE enoloase
[14:26:13 20/10/08] masif1 : i see what you mean
[14:26:34 20/10/08] masif1 : if you had put a trailing s/l on the short you'd be laughing
bro
[14:32:58 20/10/08] enolase : looks like the dollar and yen are set for more gains
[14:33:37 20/10/08] enolase : i am in short on the EURUSD and EURJPY
[14:34:53 20/10/08] enolase : combined i am 90pips in profit right now
[14:36:10 20/10/08] enolase : i see EURJPY hitting 135.00
[14:36:54 20/10/08] enolase : but let's see
[15:02:59 20/10/08] masif1 : about 200+ pips could have been made on the cable today if
stals alert was taken
[15:03:12 20/10/08] masif1 : the short alert
[15:03:21 20/10/08] masif1 : minus the 80pips loss
[15:03:32 20/10/08] masif1 : 120+ is brilliant start to the week!
[15:07:29 20/10/08] enolase : Bernanke has started his House testimony
[15:07:54 20/10/08] enolase : "supports a 2nd stimulus to support the economy"
[15:10:07 20/10/08] enolase : take a look at the doolar gains over the CHF
[15:58:44 20/10/08] enolase : wow
[15:58:49 20/10/08] enolase : what a day
[15:59:50 20/10/08] enolase : i have close to 250 pips in the bag today. i am out for the
day.
[15:59:59 20/10/08] enolase : Better to leave when the ovation is loudest
[16:02:57 20/10/08] enolase : thanks Stallion. See u all tomorrow
[16:03:13 20/10/08] enolase : today's experience has shown one thing:
[16:03:33 20/10/08] enolase : at this period, it pays to stay glued to your screen so you
don;t miss great setups and good trades
[16:03:42 20/10/08]Stalion : +300 pips, +300 minilot, +3000 standard in less than 6hrs
The Exegesis
Forexgreenland, what is your point in your post below? Are we to expect spam in the future from you?
I'm in agreement with 4x..
Forexgreenland.. Please do not post your IM messages in the Forum. Understandably..We see
you caught a Drop. This one could just have been luck.. What "Signal" did you use to
catch the drop? That might be more of a learning experience for the people in the
ForumI come in peace,mon amis...
On the contrary, your discussion on the Welles Wilder book ''The Delta Phenomenon or the
Hidden Order In All Markets'',piqued my curiousity.. Jim Sloman, the genius engineer that
discovered it and shared it with Welles, talked about Delta turning points and where and
when it should be in the markets. Though he claims Delta is the basis of all market
movements, there are NO exact exit and entries to take advantage of those predetermined
Delta turning points..
''The secret can be defined for all five Delta time frames by just eighteen words.
Markets repeat directly or inversely relative to the total interaction of the sun, the moon,
and the earth.
For the Intermediate Term Delta time frame, each colored line is on the
date of each FULL MOON!
We can define the Intermediate Term Delta in nine words.
Markets repeat directly or inversely every four lunar
months.
That is the height of simplicity. It is a truism. It has held up as far back
in history as there is obtainable data. And yet, it has eluded everyone who
ever tried to find it . . . the real underlying order in markets . . . until it was
discovered by Jim Sloman in the summer of 1983.
Now, even though we know the Delta order is perfect, unfortunately,for me, the exact date of
the high and the exact date of the low (of thehigh/low rotation) is not perfect. If it were,
you would not be reading this book and I would have, by now, accumulated more wealth than
anyone else in this world!
So. it is important to understand the difference between perfect order and perfect accuracy.
Perfect order involves a phenomenon that repeats exactly within a defined reference. In this
case the reference is the perfectinteraction of the sun, moon and earth.
Perfect accuracy defines the accuracy within the order. In this case,
the accuracy is that of the turning points. That is, how close a particular turning point
will come to a predicted date. Obviously, it is not possible for perfect accuracy to exist
within the perfect order of markets.'' Quote from the Delta Phenomenon Book
That is where I come in, my friends..
[QB] Hi. This is my first post and I want to try get some answers to the questions I have
about this thread. It would appear as though the 60% "window" does in fact appear to get
slightly more hits than the 61.8 fib. Why exactly is beyond me but it does appear that way.
We will see how long that lasts.
I do not know how you are calculating targets but I was able to pick up 70 pips on GBP/USD
but would like to know if target prices are established from support or resistance or if
there is in fact a calculation that is being used?
Are you selling a service? Your website and forum suggests that you are selling a service.
[/QB]Helloo Hoof,
It is true the 60% window got more ''hits'' than the 61.8 fib..and it lasts as long as
there's a forex market..
There are calculations being used,which also takes cognizance of support and resistance
levels..The CHART PATTERN RECOGNITION AND PRICE PROJECTION STRATEGY is a conglomeration of
diverse and dynamic trading techniques that is synergetically combustulated to form a
holistic winning formula or ''edge''.
Please dont get me wrong, Hoof....I'm not selling out...especially in the art of trading..
Welles Wilder of the ''Delta Phenomenon'' sells his books and services..Steve Nison ,Tom De
Mark,Dr Alexander Elder, Dr Van Tharp,etc..sells their services and manuals,Warren Buffet
sells his services through Berkshire Hathaway,Bill Gates through Microsoft..etc..Does that
mean they are sell outs or any lesser than the trading public? I dont really think so..else
how would anyone get to benefit from their insights and experiences?
They are still true to their art..which only makes them better..Trading is an Art,Science ,
as well as Business, and should be treated as such..
Hi forexgreenland, is it possible for me to join your littel club...
please... although im a noob i want to learn from you guys please please
master[13:45:33 21/10/08] Stalion : helloo everyone
[13:45:43 21/10/08] skipper : Hi
[13:46:27 21/10/08] Stalion : our long gu order didnt go according to plan early this
morning, so we cut it off and say next..
[13:48:27 21/10/08] Stalion : we put a sell pending order on gbpusd @ 1.6955, 1st target @
1.6919...
[13:49:24 21/10/08] Stalion : sl@ 1.7108
[13:51:57 21/10/08] skipper : hope your order hits & I'm still with you on the journey down
[13:52:26 21/10/08] klho83 : Hi Stal
[13:52:51 21/10/08] Stalion : hi K
[13:53:50 21/10/08] klho83 : Stopped for GU long trade during asian session
[14:01:43 21/10/08] masif1 : coolio
[14:03:56 21/10/08] tundope : hi stal
[14:06:51 21/10/08] Stalion : OKAY
[14:21:48 21/10/08] Stalion : price almost brushing our sell stop order
[14:38:28 21/10/08] Stalion : hi enolase..
[14:40:06 21/10/08] enolase : i am on the sidelines for now
[14:40:20 21/10/08] enolase : the BoC interest rate decision is a tricky one
[14:40:40 21/10/08] Stalion : hi fxmonkey...
[14:40:58 21/10/08] enolase : market expecting a 50 basis points cut, so movements downward
may have been factored in
[14:41:49 21/10/08] didi : it's not been too rosy.i once traded with no stop loss and lost
1'400 in 3 mins
[14:42:10 21/10/08] enolase : CAD may gain if there is only a 25 basis points cut or no cut
at all, so I will just watch it
[14:44:11 21/10/08] Stalion : what was the name of the strategy you used?
[14:45:05 21/10/08] enolase : $1,400 in 3 mins?
[14:45:53 21/10/08] didi : i try to keep it simple,just some ema's,rsi and stoch.like i said
i'm new
[14:46:25 21/10/08] Stalion : yes, eno, the USDCAD and AU/USD may be worth watching this
afternoon....I hope the news gets to have a high impact
[14:47:41 21/10/08] Stalion : no probs....but at the end, didi...its not more about the
right strategy than risk management...they both are very important...
[14:48:17 21/10/08] enolase : but like Stal said, risk management is very important
[14:48:44 21/10/08] enolase : i learnt these lessons the very hard way last year in my early
trading
[14:49:22 21/10/08] didi : believe me i now know d importance of risk management
[14:49:52 21/10/08] Stalion : if 1400 was like 2 to 5% of your total equity that you lost in
3 mins, then you wouldnt be that worried, would you?
[14:49:54 21/10/08] enolase : one thing i learnt from Stalion
[14:50:04 21/10/08] enolase : THERE ARE ALWAYS OPPORTUNITIES IN THE MARKET
[14:50:15 21/10/08] enolase : u miss one, wait. others will come
[14:51:51 21/10/08] didi : for u trades how much stop loss do u recomend
[14:52:11 21/10/08] Stalion : but the main challenges is Do You See Them and Take The Trade?
[14:54:29 21/10/08] didi : the problem now is after that loss i lost a lot of confidence and
i've only just started trading again.and all i do is scalp for 5 pips here and there
[14:55:39 21/10/08] Stalion : earlier this year, a 40 pip stop loss was fitting...but with
the recent volatility in the markets,price tends to move more...check the average range of a
candle stick bar, from high to low
[14:58:20 21/10/08] Stalion : so, now,placing stops at support and resistance areas are more
prudent,,,especially with recent price movements...
[15:07:46 21/10/08] fxjedi : so do we sell usdcad as it came out on 0.25 basis points, Stal?
[15.36 21/10/08] Stalion : not yet, jedi
[15.58 21/10/08] Stalion : we put a buy stop on USDCAD @ 1.2100....1st target @ 1.2150
[15.53 21/10/08] enolase : yes jedi
[15.58 21/10/08] enolase : not yet
[15.15 21/10/08] enolase : there is a dovish statement made by the BoC
[15.31 21/10/08] enolase : which will likely make the CAD pairs to follow recent trends
[15.38 21/10/08] Stalion : sl 1.2050
[15.38 21/10/08] enolase : order should be 15 pips in profit now
[15:23:44 21/10/08] Stalion : lets wait and see,enolase
[15:39:57 21/10/08] Stalion : there is resistance at the 1.2128 region
[15:41:47 21/10/08] Stalion : so remember guys, we have a sell pending order on the gbpusd
and a buy pending order on the usdcad...
[15:47:52 21/10/08] masif1 : thanks stal
[15:51:17 21/10/08] masif1 : uscad buy triggered
[17:34:15 21/10/08] masif1 : target hit!
[17:34:27 21/10/08] masif1 : 50pips made on the USDCAD
[17:34:53 21/10/08] masif1 : and still going up
[17:35:08 21/10/08] masif1 : damn i knew i should have put a trailing s/l
[17:54:24 21/10/08] masif1 : first target hit on the cable short!
[17:54:28 21/10/08] masif1 : 40pips made there
[17:54:35 21/10/08] masif1 : and still going down
[17:54:45 21/10/08] masif1 : damn wish i had traling s/l on that as well
[08:59:43 22/10/08] enolase : made $1500
[08:59:58 22/10/08] pipster1 : Very Good
[09:03:08 22/10/08] enolase : 1000 pips from Monday morning: that has been the story of the
GU move
Dow tumbles 514 on earnings forecast worries - Yahoo! News
[17:56:09 22/10/08] Stalion : First we put a sell stop on gbpusd @ 1.6090...1st target @
1.6050, 2nd target @1.5964
[09:47:23 23/10/08] Stalion : 1.6140 sl
are u saying i should pay for ur help? :confused:
Hi Xtravagant, am saying that if you are interested in procuring my services, I'd be glad
to help in your trading needs...It all depends on the VALUE percieved and derived...in this
case, how to make money from practical live trading and how you value the strategy to take
you there..Traders that ask questions or clarications on this thread are not paying for
anything because this forum and thread is free..
What I'm giving out freely on this thread, free alerts, free transcripts of live
conversations in forex trading rooms, free advice on trading strategies,psychology and money
management are all free..You hardly get these real life trading concepts from free resources
on the internet...neither on books in stores or ebay..
As a professional trader and forex mentor,I ask you.. what is your time worth? In 24 hours a
day, what time management principles are you adhering to? Do you give of yourself to so many
people and activities that you deplete and dissipate yourself in the process? Please read
the 80/20 Rule by Brian Tracy..and 7 Habits Of Highly Successful People by Steve Covey..
In essence, you dont pay anything here on this free and open forum...
a very interesting chat & screens thx
Thanks, IndigoSun
Whats up everybody...where is this chatroom located?
Much Love,
DubsHi dubs07, just google ''forexgreenland''..
[QB] I hope this is the best place to discuss on forex and forex related tips and strategies
[/QB]Hi Martin01..I sure hope so too...lol..
I like the idea of thinking about it from a psychological spin. Its
like everything in life - when your properly in focus, you can achieve almost anything. And
when your not - somertimes it seems like you'd be better off spending the rest of the day
under the covers - where you cant do any more damage!Yea,hersko915, its all about focus...focus on your trading goals and objectives,which also
translates to life itself...but you sure cant do that when you are scattered all over the
place...or dissipating energy on low value activities or destructive tendencies..
You got an argumentative girlfriend?You cut her off..A nagging wife?Try your best to achieve
harmony and understanding with her..Like going for binge drinking regularly in bars and
pubs...No No...Like flaring off at every single percieved provocation? Chill..
Like you right said,Its all about focus, mon ami..
[19:10:17 23/10/08] Stalion : hi fellas
[19:10:45 23/10/08] Stalion : hope you guys took the 1st 40 pips of our gbpusd short order
[19:13:44 23/10/08] Stalion : since it looks like gbpusd is retracing upwards, we put a buy
stop on the cable @ 1.6170...1st target @ 1.6210..2nd target @ 1.6261...
[19:15:44 23/10/08] Stalion : sl @ 1.6100....take half profits when +20 pips in
profits..while shifting sl to entry point...
[19:20:54 23/10/08] Stalion : our sell pending order on cable still stands...
The Forex Exegesis
[18:28:57 22/10/08] Stalion : hi skipper
[18:29:33 22/10/08] Stalion : enolase
[18:30:14 22/10/08] enolase : oh yeah
[18:30:21 22/10/08] enolase : hi
[18:30:36 22/10/08] enolase : the market is range bound
[18:31:50 22/10/08] enolase : anyone trying to be a hero now will get bombed!
[18:33:10 22/10/08] enolase : masif, what u experienced is a classical case of greed
[18:33:40 22/10/08] enolase : if u had just taken what you got and went home for another
day, u would have been cool
[18:34:24 22/10/08] Stalion : hmmmm....
[18:35:40 22/10/08] Stalion : 1st picking was okay...den next move is to take half lot
first...then shift stop loss to entry point...with that, you are ''playing with house
money''..
[18:36:21 22/10/08] enolase : Stal, i wanted to ask
[18:40:19 22/10/08] enolase : do u take multiple positions? because i do not know how you
can close half lots from an existing trade?
[18:41:56 22/10/08] enolase : i would be glad if you can explain it to me
[18:54:59 22/10/08] Stalion : no probs
[18:56:09 22/10/08] Stalion : First we put a sell stop on gbpusd @ 1.6090...1st target @
1.6050, 2nd target @1.5964
[18:57:47 22/10/08] Stalion : if you are taking 1 minilot to trade, then taking half profits
means closing your trade at 0.5...then allowing the other half to stay for the next target
[18:59:06 22/10/08] Stalion : if it were 2 minilots(0.2), then you close your trade at
0.1(half profits), and allow the other half lot(1 minilot) to remain for the second target
[10:24:22 23/10/08] Stalion : price have been on a range since yesterday...so market is flat
for now
[10:29:14 23/10/08] enolase : hi everyone
[10:29:17 23/10/08] Stalion : our pending buy and sell orders still stands...remember to
take half profits when trade is on +20 pips ahead..then shifting sl to entry...standard risk
mgt procedure
[10:30:46 23/10/08] enolase : ok
[10:30:57 23/10/08] enolase : i have understood the explanation of yesterday
[10:41:46 23/10/08] Stalion : [17:56:09 22/10/08] Stalion : First we put a sell stop on
gbpusd @ 1.6090...1st target @ 1.6050, 2nd target @1.5964
[10:44:32 23/10/08] Stalion : hi skipper
[10:45:06 23/10/08] enolase : what is the stop loss for the second order?
[10:47:23 23/10/08] Stalion : 1.6140 sl
[10:48:09 23/10/08] masif1 : is that two alerts?
[10:48:19 23/10/08] masif1 : one for a buy and one for a sell?
[10:48:39 23/10/08] fxjedi : hi masif,yes two pending orders leftovers
[11:38:50 23/10/08] fxjedi : market's slow
[12:32:22 23/10/08] masif1 : it looks like a consolidating day today for the markets
[13:40:19 23/10/08] djcarlos : HI
[14:09:05 23/10/08] klho83 : hi
[14:14:11 23/10/08] djcarlos : I open position to USD/JPY
[14:18:19 23/10/08] djcarlos : HI pipster
[14:33:08 23/10/08] masif1 : short triggered
[14:37:03 23/10/08] masif1 : fist target hit
[14:37:07 23/10/08] masif1 : 40pips in the bag!
[14:37:18 23/10/08] masif1 : didnt get a chance to put a trailing s/l
[14:39:31 23/10/08] djcarlos : I was open USD/JPY and AUD/JPY
[14:41:47 23/10/08] djcarlos : Its having a sell rally
[14:58:05 23/10/08] Stalion : hope you shifted your sl to entry after first target was hit,
masif...
[15:05:08 23/10/08] masif1 : hi stal
[15:05:22 23/10/08] masif1 : didnt get a chance stal
[15:05:31 23/10/08] masif1 : just took the 40pips
[15:05:34 23/10/08] masif1 : happy with that
[15:06:09 23/10/08] masif1 : i have put a reentry but may take it off as don;t want to do
the same mistake i did yesterday - greed!
[15:58:04 23/10/08] enolase : Starcomms did me in again
[15:58:25 23/10/08] enolase : network went just as I placed 2 orders for EURUSD and GBPJPY
[15:58:53 23/10/08] enolase : only for the network to return and I found that after being
almost 50 pips in profit in both, the price retraced on me
[15:59:04 23/10/08] enolase : but i can make do with the GU short
[15:59:39 23/10/08] enolase : i seriously have to consider either Reltel or Visafone
[16:00:27 23/10/08] djcarlos : I open bad orders in USD/JPY and AUD/JPY,
[20:10:17 23/10/08] Stalion : hi fellas
[20:10:45 23/10/08] Stalion : hope you guys took the 1st 40 pips of our gbpusd short order
[20:13:44 23/10/08] Stalion : since it looks like gbpusd is retracing upwards, we put a buy
stop on the cable @ 1.6170...1st target @ 1.6210..2nd target @ 1.6261...
[20:15:44 23/10/08] Stalion : sl @ 1.6100....take half profits when +20 pips in
profits..while shifting sl to entry point...
[20:20:54 23/10/08] Stalion : our sell pending order on cable still stands...
[22:31:52 23/10/08] Stalion : target hit at a high of 1.6263, 2 pips away from our 2nd
target of 1.6261..
[22:32:49 23/10/08] Stalion : shift stop loss to entry while putting a trailing stop on
price...from now, we are ''playing with house money''..
[23:09:26 23/10/08] fxjedi : hi stal, my 25 pip trailing is on,any idea on 3rd target?
[23:09:55 23/10/08] Stalion : 3rd target @ 1.6315
[23:10:19 23/10/08] Stalion : hi skipper
[23:11:01 23/10/08] fxjedi : okay
[23:15:09 23/10/08] fxjedi : geez,3rd target hit
[23:16:08 23/10/08] skipper : Hi stalion - I always seem to just miss you
[23:18:30 23/10/08] Stalion : sorry,man...being quite busy for a while
[23:19:37 23/10/08] fxjedi : should we be looking for a 4th target,stal?sorry if i'm been
greedy,lol
[22:21:54 23/10/08] Stalion : just keep your trailing stop on...like am doing...if there's
gonna be a 4th target, its going to get to 1.6390...after breaking resistance at 1.6346
[22:22:32 23/10/08] fxjedi : Black Friday!!
[22:23:09 23/10/08] skipper : stalion - whats the difference in pips between current price &
your trailing stop
[22:23:32 23/10/08] skipper : I always screw up trailing stops - too wide or too tight!
[22:26:01 23/10/08] Stalion : well, dats another lesson you can chalk in to ur trading
experience,skipper...a 15 to 35 pip trailing stop loss is okay...
[22:26:03 23/10/08] Stalion : brb
[22:27:44 23/10/08] skipper : thanks
[22:29:01 23/10/08] djcarlos : I, today was the worse day for me... I was lost
Stocks dive on belief global recession is at hand - Yahoo! News
F##k you Stallion
Hey
F##K YOU!
B.S
help wanted
dear stallion,
I would like just to check with you if do you offer any monthly
subscription to your service,because I am realy exited to be one of
your friend, and it doesn't mutter how much you are going to charge me
per month, and thank you in advance. I look forward to hear from you
again.
N
Mastery Coaching Program
Hello Mr.Stallion.I'd like to know few more detals about your Mastery Coaching Program.I
drained my account 4 times.Nothing huge but I still feel the pain.It's not funny ! This is a
hard business to do if you do not know what you are doing.I do not want to fail anymore.I'm
doing OK right now with my MiniAcc,but I need to know from professional Forex Trader like
You how I can be one of the best?I do not trust to any those forex gurus,none of them helped
me and I've pay too mutch for their services,all useless.I'd like to learn from you how to
win in the currency markets.Do I have to be at home all day long to try yours one week
intensive forex programe?I have day job 8 AM to 6 PM EAST time.I live in Canada and only can
trade London open session.You are really right about this one,this is Art and Science of
trading.I see how you are doing this but I do not understand that.Please let me know more
detals about your service.Thank You.
Regards,J K
iCanada
[09:42:45 24/10/08] Stalion : Helloo everyone
[09:43:21 24/10/08] djcarlos : HI everyone from Chile in the end of the world 5.32 am here
[09:44:53 24/10/08] klho83 : helloo stal
[09:46:06 24/10/08] fxjedi : Diod you get the text alert yesternight,Kloh83
[09:30:20 24/10/08] fxjedi : am almost 200 pips in profits
[09:32:58 24/10/08] masif1 :damn i missed the long call last night
[09:33:15 24/10/08] Stalion : yes I sent out a short call on the cable last nite..anyone
that got it should write it out
[09:33:20 24/10/08] masif1 : how many pips did I miss?
[09:33:48 24/10/08] masif1 : also whay are all the currencies dropped?
[09:34:05 24/10/08] masif1 :BIG TIME! this morning
[09:36:27 24/10/08] klho83 : i got with pips.thanks stal
[10:40:58 24/10/08] fxjedi : okay here's what i got,we put a sell stop on gu @ 16215, 1st
target @ 16170, sl @ 16291,take half profits wen 20 pips ahead, den shift sl to entry
[09:42:07 24/10/08] fxjedi : and lucky me, the other pending sell order you said still
stands kicked in,having like 2 minilots with a trailing stop on,very nice, thanks stal
[09:45:13 24/10/08] masif1 : whoever took that call would be +700 pips by now
[09:46:55 24/10/08] masif1 : damn damn damn i missed another one!
[10:00:58 24/10/08] Stalion : cool
[10:01:05 24/10/08] fxjedi : i think i should jus go back to bed and sleep, stallion, am
feeling dizzy,lol
[10:02:39 24/10/08] masif1 : fxjedi you could retire for the whole month of nov from this
call alone
[10:02:55 24/10/08] masif1 : well done guys
[10:03:21 24/10/08] masif1 : by the way, anyone know what happened?
[10:04:06 24/10/08] Stalion : not sure,masif...just followed my technical analysis..and
voila..another one bites the dust..
[10:05:09 24/10/08] fxjedi : lol stal, in this crazy market, you make it seem so easy,dont
you think of volatility?
[10:06:22 24/10/08] Stalion : I do, man...but I follow my trading plan...and plan my
trading..
[10:06:49 24/10/08] Stalion : did you put a trailing stop on your cable short, K?
[10:15:44 24/10/08] skipper : morning- looks like you had a good night!
[10:16:15 24/10/08] djcarlos : Hi Stal,06.14a.m in chile, still in bed
[10:17:01 24/10/08] fxjedi : lol,dats the understatement of the day,we had a wild night!
[10:19:38 24/10/08] didi : morning stal.u guys have good trades this week,unfortunately
didnt take part in any,
[10:20:11 24/10/08] klho83 : No.it too fast to reach first target and hit all
[10:25:44 24/10/08] Stalion : Hi enolase
[10:27:16 24/10/08] Stalion : to be on the safe side, we put a sell stop on gbpusd @ 1.5430,
1st target @ 1.5390..stop loss @ 1.5514
[10:30:01 24/10/08] enolase : helloo all
[
10:33:22 24/10/08] klho83 : too fast hit the target !
[10:34:01 24/10/08] djcarlos : nex target???
[10:35:02 24/10/08] Stalion : Always remember yourtrailing stops!
[10:36:17 24/10/08] Stalion : 1.5220
[10:37:10 24/10/08] Stalion : this is real time trading, guys..no gimmicks..no fluffs..you
jus gotta be fast in intraday trading..
[10:38:45 24/10/08] didi : is it too late to enter the trade? was away for a while
[10:40:58 24/10/08] fxjedi : dunno
[10:41:47 24/10/08] didi : stal what do u think
[10:43:14 24/10/08] klho83 : Please send me text,I will away for an hour .thanks Stal..
[10:43:28 24/10/08] Stalion : Dont Catch Falling Knives
[10:43:53 24/10/08] skipper : Good call Stalion - took the signal - trailing stop on
[10:43:59 24/10/08] klho83 : if there is a trade signal..
[10:45:05 24/10/08] Stalion : you could put a sell stop at 1.5260...didi...
[10:45:11 24/10/08] Stalion : okay, K
[10:47:13 24/10/08] fxjedi : Minute chart will be like daychat...as i expected...Whats new to me is that 10 second chart is soon like daychart
[10:49:21 24/10/08] Stalion : lol...thats volatility for you, mon ami..
[10:50:01 24/10/08] Stalion : yeah...and due to huge volatility nowadays, a 40 pip stop loss is history...
[10:50:14 24/10/08] Stalion : thats where risk mgt comes in..
[10:51:22 24/10/08] Stalion : you gotta use micro lots, if possible, in order to accomodate our larger stop loss,so as to be able to fall within the 2 to 5% risk range
[10:52:42 24/10/08] fxjedi : Anyone else experiencing heart palpitations? LOL
[10:52:59 24/10/08] fxjedi : if the ranges get any bigger on my toy, I'm going to need new reading glasses to see the numbers
[10:55:04 24/10/08] Stalion : lol
[10:55:56 24/10/08] Stalion : assuming you have a 500 dollar account...what is 2% of 500 dollars,didi?
[10:56:40 24/10/08] didi : 10
[11:01:07 24/10/08] didi : am i right stal
[11:02:24 24/10/08] Stalion : that 2% is what makes you last 50 times in ur 500 dollar account in case of a losing streak...at $10 risk per trade, it falls within that range..
[11:03:30 24/10/08] Stalion : so in order to accomodate an 100 pip sl, you need not 1 minilot...but 1 micro lot..
[11:04:48 24/10/08] didi : how much is 1 micro lot
[11:08:35 24/10/08] fxjedi : i think 1 standard lot is $10, 1 minilot is $1, and 1 microlot is $0.1
[11:10:03 24/10/08] Stalion : something like that,jedi...depending on the curency pairs...
[11:11:28 24/10/08] Stalion : so,didi...i know you might think microlots are small..but
remember forex is not a get quick rich scheme..a $100 profit in 3 mins on a $500 account
sounds sexy in
[11:12:36 24/10/08] Stalion : trading...but a $100 loss on a $500 account doesnt...that means you have only 4 trades to go,if on a 100 dollar stop loss...
[11:15:03 24/10/08] Stalion : see what I meant by not catching falling knives?if you had entered at that time you said you wanted to, price has now retraced upwards like 200 pips..but placing a sell stop at 1.5260 would be more prudent
[11:31:42 24/10/08] fxjedi : trailing stop cancelled out
[11:35:11 24/10/08] masif1 : lol
[11:35:20 24/10/08] masif1 : catching falling knives!
[11:35:34 24/10/08] masif1 : very good metaphor
[14:47:08 24/10/08] Stalion : hope you guys made some money from our short gu call...though it hit target lightening fast, it was all good..
[14:48:22 24/10/08] Stalion : so we see price moving up, so we put a buy stop on GBPUSD @ 1.5688, 1st target @ 1.5755, 2nd target @ 1.5830...3rd target @ 1.5905
[14:49:13 24/10/08] Stalion : stop loss @ 1.5589..remember ur trailing stops and take half
profits when +20 pips ahead
[14:51:24 24/10/08] fxjedi : thanks for the sms,stal,1st target just hit
[14:57:12 24/10/08] djcarlos : hey, i dont see this alert
[14:57:18 24/10/08] djcarlos : saw
[14:57:38 24/10/08] djcarlos : can i enter now???
[14:59:17 24/10/08] fxjedi : am not sure,djcarlos,i got my alert some fifty minutes ago,so
my buy stop was already in
[15:01:14 24/10/08] djcarlos : ok thank, I was enter, and i exit whith 15 pips jeje thanks
[15:01:16 24/10/08] masif1 : damn another call i missed!
[15:01:35 24/10/08] masif1 : that's 3 very profit making calls today which i missed Sad
[15:02:38 24/10/08] fxjedi : sorry
[15:04:01 24/10/08] fxjedi : i only wonder how stallion does it,everywhere in
chaos,volatility breaking up traders accounts,but this guy is busy declaring profits
consistently,funny
[15:04:04 24/10/08] djcarlos : How can I get a SMS???
[15:04:50 24/10/08] fxjedi : 2ndtarget hit
[15:08:51 24/10/08] klho83 : Closed 135pips for the 3rd target!
[15:08:59 24/10/08] djcarlos : now is going down, catch the knife???
[15:09:48 24/10/08] klho83 : Best trade for the week! Thanks Stal!
[15:10:50 24/10/08] djcarlos : How can I get sms?? to dont miss other alert?
[15:13:16 24/10/08] fxjedi : 3 winning trades in a row in just 1 day? thats a HATRICK
[15:14:12 24/10/08] djcarlos : jaja congratulations
[17:20:19 24/10/08] fxjedi : am withdrawing some of my profits from my forex broker first
thing monday morning
[17:22:19 24/10/08] djcarlos : nice
[17:27:39 24/10/08] fxjedi : just dont want to tempt my broker,lol
[17:28:56 24/10/08] djcarlos : ok. thanks
[20:24:06 24/10/08] Stalion : 3rd target finally hit
Stocks fall on belief global recession is at hand - Yahoo! News