Review of Strategic Tips on Milking the Major Currency Pairs in Live Forex Tradi

Live Forex Chart

Currency
Rates
EUR / USD
1.19101
USD / JPY
104.394
GBP / USD
1.33480
USD / CHF
0.91038
USD / CAD
1.30108
EUR / JPY
124.334
AUD / USD
0.73531

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forexgreenland

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Hi Folks,
This is Stallion,veteran forex trader and mentor. I would be reviewing strategic tips on how

the major currency pairs can be milked. Though I specialize in gbpusd, other pairs would

also be taken into consideration during our analysis.

It has been theorized that your state of mind will dictate your trading methods. Experts in

the field of trading psychology have pinpointed three main states of mind and how each has a

direct effect on a trader's profitability.

These three mind states are "having", "doing" and "being". Psychologists have noted that

those new to trading start with a "having" state of mind. As they gain more experience, they

move on to a "doing" state of mind. The pinnacle of profitability occurs when a trader moves

into the last and final "being" frame of mind.



The "Having" Mind Set
A novice trader may focus primarily on profits. In this "having" state of mind, they are out

of sync with the markets. They are blinded by their obsession to obtain the all mighty

dollar and what it can afford them. Trading is not viewed as a job that must be mastered,

but as a vehicle to escape from a world of mediocrity.

Many traders are in the business to make money, as well as they should be. However, if they

are blinded by greed, they tend to take uncalculated risks. Looking at the potential payoff

without carefully calculating market trends and other factors is a recipe for disaster.

It is impossible to graduate to a high performance level when you concentrate on "having"

instead of how the game is won. If you trade in a "having" frame of mind, you may become

frustrated when profits are not immediately forthcoming. With frustration comes a lack of

focus. Without the ability to focus, you cannot gain knowledge from your experience on the

trading field.

Other negative consequences of this mindset are feelings of frustration and anger.

Frustration stemming from a lack of expected profits and anger directed at oneself or the

market in general. These adverse emotions will only cause further decline in profitability.

Without witnessing gains from one's efforts, an individual may not give their best and may

be tempted to "throw in the towel".



The "Doing" State of Mind
If an individual continues on to trade another day, they will eventually move from a

"having" to a "doing" state of mind. Learning that there is more to trading than the

amassing of money, a trader will turn their focus on learning new methods of trading and

what does and doesn’t work.

This state of mind is still primarily centered on how to turn a profit. Although a "doing"

mind state is essential to becoming a seasoned adept trader, the main focus is still short

of the mark. It is crucial to know what works and what doesn't. However, a skilled trader

will tell you there is more to the business then choosing one method and using it

arbitrarily to make trades across the board.

Becoming a trader of means requires not only a winning attitude, but also a fine honing of

trading skills. To develop these skills, you must make trades using various methods under a

wide spectrum of market conditions. Only then can you develop the needed intuition to master

the art of trading.



Pinnacle of Profitability: The "Being" State of Mind
A successful trader almost instinctively knows how to make a trade using the best method

available for the current market trend and/or condition. This ability does not occur

overnight. It is only accomplished through perseverance, knowledge of various trading

methods and learning which one works given a particular market condition.

No trade is ever a "sure thing". However, a profitable synchronicity almost naturally occurs

when you are faced with a potential trade, have a feel for the current market trends and

conditions, and utilize the method best suited for a potential payoff. This "being" state of

mind ultimately lends itself to long-term success in the high stakes of trading.
 
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forexgreenland

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[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
 

forexgreenland

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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

Forum
I 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..


Originally posted by Hoof:
[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 :D:D:D 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 : [email protected] 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?

[15:11:36 21/10/08] Stalion : not yet, jedi

[15:12:58 21/10/08] Stalion : we put a buy stop on USDCAD @ 1.2100....1st target @ 1.2150

[15:13:53 21/10/08] enolase : yes jedi

[15:13:58 21/10/08] enolase : not yet

[15:14:15 21/10/08] enolase : there is a dovish statement made by the BoC

[15:15:31 21/10/08] enolase : which will likely make the CAD pairs to follow recent trends

[15:15:38 21/10/08] Stalion : sl 1.2050

[15:16:38 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

http://news.yahoo.com/s/ap/20081022/ap_on_bi_st_ma_re/wall_street
 

forexgreenland

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[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,

Dubs
Hi dubs07, just google ''forexgreenland''..

Originally posted by martin01:
[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...
 

forexgreenland

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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

http://news.yahoo.com/s/ap/20081024/ap_on_bi_st_ma_re/wall_street
 

forexgreenland

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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




http://news.yahoo.com/s/ap/20081024/ap_on_bi_st_ma_re/wall_street
 

forexgreenland

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60% Beethoven Cantata in B Major on GBPUSD

Helloo Folks,
We thank God for bringing us to the begining of another brand new week and we give Him the

glory in ALL things..

Our last target on Friday (1.5905) was finally hit, which in itself , was the 60% SELL

WINDOW of the previous trend..I know..I know...everyone says we should sell during price

rallies( rise) when the trend is down but we bought...and 217 pips came out of that

decision.
Now as the time of writing,(5.50 GMT Sunday), price on the GBPUSD 15min closed on Friday

with a bearish candle..
Observe that that close(1.5903) was at the region of the 60% SELL WINDOW, which usually

foretells a turnaround in price...which, in this case, pausing from its prevailing uptrend

to a much probable downtrend.
But the question is ''HOW FAR IS PRICE GOING ON ITS PERCIEVED BEARISH MOVEMENT?
We've, to a considerable extent, determined the direction of GBPUSD on the 15 minute chart,

as bearish...so now, we are looking at HOW FAR this bearish move might likely go..That is

the essence of the CHART PATTERN RECOGNITION AND PRICE PROJECTION STRATEGY.
That , my friends, is what we term the ''60% Beethoven Cantata in B Major''..
Those numbers, 1-2-3 was observed to continue and recur upwards in the prevailing

uptrend...so we extrapolate them on our next anticipated downtrend...



High=1.6326-Low 1.5262=0.1064
0.6*0.1064=0.06384(range)
1.5262+0.06384=1.5900 ( 60% sell window).

high 1.5943 - low 1.5747= 0.0196
0.6*0.0196=0.01176(range)
1.5747+0.01176=1.5865(60% window) 1st target to the downside..

2nd target @ 1.5666...3rd target @ 1.5523....

In less than 4 hours from now, the forex markets will open, with the Asian Session leading

the pack..Only time would tell if our targets are hit...Remember there's no 100% perfection

in the markets..Anything can happen..thats why proper risk management is important..
Proper money management dictates we fix our stop loss above the high of 1.5943, when going

short(selling).tHats like 40 pips above the close of 1.5903.
A bearish gap to the downside might also likely form at the opening bell which shows

oversold orders pouring in the markets..
Please feel free to make any comments or ask questions..
 

forexgreenland

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Dont you think price breaking through the pretty strong resistance

at approx. 1.59 is a bullish signal and send the pair up when they open first? I dunno, just

wondering, I bought at 1.59 and have a target of 1.595 and I dont see how the last high on

friday of 1.5933 has any sigificant resistance.
Hi willabala, thanks for your constructive criticism...well, the last high on friday of

1.5933 is a significant resistance because it is the current MAJOR HIGH...Price needs to

break above that level to confirm a bullish trend. Can you please tell us your reasons for

going long at 1.59?



This is like a case study of different traders with different bias (long and short).. At

that 1.59 level, you were in favour of a buy position while I was in favour of a sell

position..For me, that level was SELL WINDOW in which my bias would be short...Even if I

want to go long, I would have gone for the first pyschological level @ 1.5940...which gave

strong resistance,before price started retracing downwards..1.595 would be pushing it when

price is already giving signals its overbought and at the sell window..
Well, we all learn everyday,mon ami..

Can you tell us the reasons you took a long trade instead of a short,willaballa?Did you

notice the bearish gap?

Hi Forexgreenland,

Glad to hear from you and welcome to the community. Thanks for sharing your thoughts and

price targets here it looks like they were all hit and then some.

Best Regards
Dave
Thanks,Dave...you were right...the price targets were hit some hours after the ''Beethoven

Cantata In B Major'' call...extra 200 pips were left hanging on the table..




Greetings Mystikal,

your call was the sweetest beethoven classic av ever heard,with avanlanche of pips

[08:17:17 27/10/08] klho83 : Hi stal

[08:20:45 27/10/08] Stalion : Hi K

[08:21:14 27/10/08] Stalion : morning agba...monkeymagic

[08:21:26 27/10/08] monkeymagic : hi stalion

[08:22:46 27/10/08] Stalion : hope you guys took our short call yesterday...from

1.59...price went down a huge drop by +400 pips..

[08:23:56 27/10/08] monkeymagic : I have been following recent activites & keen to get

involved

[08:24:22 27/10/08] monkeymagic : don't really know what I'm doing though

[08:24:40 27/10/08] Stalion : cool

[08:25:11 27/10/08] Stalion : how long've you been trading?

[08:25:43 27/10/08] monkeymagic : I've been running a demo account and tried a couple of EAs

[08:25:57 27/10/08] monkeymagic : no live stuff yet

[08:29:28 27/10/08] Stalion : we put a sell stop on GBPUSD @ 1.5426...1ST TARGET @

1.5370...2nd target @ 1.5305...3rd target @ 1.5260

[08:29:51 27/10/08] Stalion : okay...

[08:30:07 27/10/08] monkeymagic : sounds good

[08:32:23 27/10/08] Stalion : any strategy that ur using presently?

[08:32:55 27/10/08] monkeymagic : no

[08:33:08 27/10/08] monkeymagic : Im pretty green at trading

[08:34:05 27/10/08] monkeymagic : this might be a silly question - but do you have to do

three different order for the targets

[08:35:06 27/10/08] Stalion : well, no question is silli,mm...especially in trading..

[08:35:41 27/10/08] Stalion : for 3 targets, you close a third (1/3) of your original

position

[08:36:02 27/10/08] Stalion : for 2 targets, you close half of original positions...

[08:37:30 27/10/08] monkeymagic : great thanks for that

[08:48:20 27/10/08] klho83 : Hi stal Where is the SL for GU

[08:48:22 27/10/08] Stalion : sell stop triggered

[08:50:05 27/10/08] Stalion : stop loss @ 1.5500

[08:51:04 27/10/08] klho83 : Thanks !

[08:56:05 27/10/08] skipper : Morning everyone

[08:56:43 27/10/08] Stalion : please take a third(1/3) profit when +20 pips ashead...

[08:57:00 27/10/08] Stalion : and shift stop loss to entry point



[13:08:20 27/10/08] Stalion : so skipper, how long have you been trading? 2yrs?

[13:09:07 27/10/08] skipper : Hi Stalion - just over a year now & it's been a bumpy ride.

[13:09:43 27/10/08] djcarlos : I have been 3 years, but I was lost in 2 times... but now

with the alerts... im going well

[13:13:32 27/10/08] Stalion : what are the particular challenges you guys are facing in

trading???where would you like to become better?

[13:14:19 27/10/08] skipper : I have trouble deciding on entry points.

[13:14:41 27/10/08] skipper : I seem to have the right idea, but always a bit early in.

[13:15:16 27/10/08] skipper : But I am getting better - just have to be more patient

[13:16:18 27/10/08] Stalion : Timing of entries is one of skipper's challenges...like every

other trader...

[13:16:29 27/10/08] Stalion : dj?

[13:16:32 27/10/08] enolase : Fibonacci is something I would really want to learn

[13:16:48 27/10/08] enolase : so as to be able to get in on retracements

[13:16:56 27/10/08] Stalion : enolase?

[13:17:03 27/10/08] Stalion : ohh,okay

[13:17:37 27/10/08] enolase : Friday was one of the few times i was able to plot and enter

at 38.2 retracement on EURJPY that gave me80 pips in profit

[13:18:08 27/10/08] enolase : but i have never been able to determine properly where to

start the plotting of the Fibo lines from

[13:18:18 27/10/08] enolase : using my chat software

[13:18:39 27/10/08] enolase : sorry i mean using my MT4 chart Fibo tool

[13:20:37 27/10/08] enolase : if i can determine exactly where to start the plotting from so

one can re-enter on a 50% or 61.8% Fibo retracement level, it will really enhance my trading

[13:26:43 27/10/08] Stalion : fibo's not that hard,enolase...but it will take a little time

before you can get used to practicing it

[13:39:13 27/10/08] Stalion : djcarlos...? any forex challenges or problems you want to

overcome?

[13:41:07 27/10/08] djcarlos : yes, I want to start to learn about ways to determine entry

points... in technical and fundamental analisis

[13:42:10 27/10/08] skipper : same here

[13:42:45 27/10/08] djcarlos : I have the knowledge, but i must practice

[13:43:55 27/10/08] enolase : Stal, do we have a potential double bottom forming on the 1hr

chart of EURJPY?

[13:48:51 27/10/08] enolase : and what is this talk of a Yen Intervention?

[14:01:37 27/10/08] Stalion : yea...practice makes perfect,dj

[14:02:27 27/10/08] Stalion : even with all d knowldge and skills in ur disposal,if you dont

practice daily, its wasted..

[14:04:45 27/10/08] Stalion : sorry, mate....that double top on the EURJPY looks weak...kind

of sliding price down to the right

[14:05:01 27/10/08] enolase : yes

[14:05:44 27/10/08] djcarlos : thanks........ Im looking Eur/Jpy chart, and it could be

interesting sell order.... what do you think???

[14:06:54 27/10/08] enolase : of course there are rulesfor entering based on double top:

placing a pending order at the "neck"

[14:07:00 27/10/08] enolase : the neck is still over 300 pips northwards

[14:09:21 27/10/08] Stalion : it would have been a 1-2-3 bottom but the recent low at 9 a.m

this morning breached the previouslow that was there at 113.77

[14:17:28 27/10/08] Stalion : price is moving rather slow...

[14:21:21 27/10/08] Stalion : I suggest a break ...from the screens...we come back in a

hour's time or so...so we put a sell stop @ 113.60...1st target @ 113.10..on the

EURJPY...GBPUSD has more upside momentum than EURJPY...yen is just lagging behind...

[14:22:21 27/10/08] Stalion : maybe cable might give yen some added lift?

[14:28:09 27/10/08] Stalion : a breach above the high of 116.83 would foretell a bullish

move

[14:30:28 27/10/08] Stalion : cool

[14:31:30 27/10/08] Stalion : that could mean the formation of the 1-2-3 pattern

[14:36:43 27/10/08] djcarlos : its ready the entry order

[14:36:55 27/10/08] djcarlos : im waiting

[15:18:31 27/10/08] Stalion : We also put a pending buy stop order on EURJPY @

117.10,1sttarget @ 118.00, 2nd target @ 118.95...3rd target @ 120.53...stop loss @116.10

[15:19:02 27/10/08] Stalion : this ensures we catch any surprise bullish move to the north

[15:54:12 27/10/08] enolase : hi people

[15:55:42 27/10/08] djcarlos : Hi did you see the alerts??

[15:56:53 27/10/08] enolase : yes

[15:56:58 27/10/08] enolase : the GU trade has triggered

[15:57:55 27/10/08] enolase : so we watch it

[15:58:58 27/10/08] skipper : Missed the alert - where was it?

[16:00:28 27/10/08] djcarlos : Enolase... you will open the GU alert again??

[16:00:33 27/10/08] skipper : sorry - being stupid - I did see it!

[16:00:40 27/10/08] skipper : Have short on

[16:06:20 27/10/08] enolase : The ECB President has just hinted on a rate cut at the next

meeting!

[16:07:42 27/10/08] djcarlos : what that means???

[16:07:52 27/10/08] djcarlos : GU is going down??

[16:19:31 27/10/08] enolase : we got stopped out

[16:20:02 27/10/08] enolase : and the market seems headed in a range bound direction. so i'm

taking a break

[16:26:34 27/10/08] djcarlos : mmmm i was open again the alert... bad idea..

[18:45:17 27/10/08] djcarlos : HI good news 1st target of 118.00 was hit.... thanks Stal 100

pips in the badge

[23:37:50 27/10/08] Stalion : cool,djcarlos

[23:39:11 27/10/08] Stalion : 377,44,and 90 pips netted us a total of 511 pips,$511

minilot..$5110 standard lot on Monday

 

forexgreenland

Freshie
Joined
Oct 19, 2008
Messages
40
Reaction score
0
Points
6
Forexgreenland, I went long at 1.59 due to the break above the

resistance at about 1.5890. I guess I really had my target to high for 50 pips at 1.5950,

really only 30 pips is what I was going to go for and had set limit to 1.5930 and then

changed it. It's all good with me though I got out of that with with a small 30 point loss,

and then made 90 pips last night so up 60 for yesterday. I'm still a little doofed on what

position to take at this moment, no idea.
Hi willaballa,that means there was nothing wrong with your entry at 1.59 due to a break of

resistance at 1.5890...it was just a challenge of targets and exits,dats all...Like you

rightly said, 30 pips is okay for a trade,especially if you multiply it by multiple lots..2

minilots would be like 90...4 minilots like 120...
You just need to believe more in yourself and your strategy in order to have the confidence

to make successful trades...Its only a matter of time...you'll get there,as long as you

strive to be better than who you were yesterday..
As I write, the next alert is on the last segment of the chat..

P.s- Trading is not 100% perfect neither is it cast in brick and mortar...price might still

go down instead of up, so please use proper risk management.



Hi Sylvester! I`m new in the market, so I'd like you to tell me what book,publication or

website you suggest me to readr. Thank you , greeting from Argentina!!!
Helloo Mauro...Howz Beunos Aires and your fellow gauchos in the pampas? You rock,amigos...
Well, if you are looking for forex resources, you can check at babypips for some

introductory stuff...Then maybe go through Technical Analysis of the Financial Markets by

John J Murphy, and the Candlestick Course by Steve Nison..That should help for a start..


[08:25:01 28/10/08] monkeymagic : morning skipper

[08:56:28 28/10/08] skipper : morning everyone

[08:59:18 28/10/08] monkeymagic : hows everyone going with their trading?

[09:00:25 28/10/08] djcarlos : HI everyone from chile, 05:00 here

[09:01:00 28/10/08] monkeymagic : djcarlos - you must be keen

[09:02:00 28/10/08] monkeymagic : its 9.00pm in New Zealand

[09:02:42 28/10/08] skipper : 8am UK - any alerts today guys?

[09:03:32 28/10/08] monkeymagic : I haven't seen any

[09:05:44 28/10/08] djcarlos : somebody wake up me when the alert is ready

[09:05:56 28/10/08] monkeymagic : lol

[09:06:00 28/10/08] djcarlos : jeje

[09:09:53 28/10/08] Stalion : helloo everyone..

[09:10:00 28/10/08] skipper : morning stal

[09:10:25 28/10/08] djcarlos : good night yet here jeje!

[09:10:44 28/10/08] klho83 : hi gm all!

[09:11:38 28/10/08] Stalion : hope you'all had a good night rest.....

[09:12:34 28/10/08] Stalion : did anyone take the EURJPY trade yesterday?

[09:13:10 28/10/08] skipper : yes - thanks

[09:13:31 28/10/08] klho83 : No

[09:14:03 28/10/08] monkeymagic : that would have been in the middle of the night for me

[09:14:19 28/10/08] Stalion : we put a buy stop on the GBPUSD @ 1.5570...1st target @

1.5618..

[09:15:56 28/10/08] Stalion : 2nd target @ 1.5668...sl @ 1.555520

[09:16:19 28/10/08] Stalion : sory, 1.5520

[09:16:50 28/10/08] skipper : OK Stal

[09:18:25 28/10/08] Stalion : [15:18:31 27/10/08] Stalion : We also put a pending buy stop

order on EURJPY @

[09:18:36 28/10/08] Stalion : 117.10,1sttarget @ 118.00, 2nd target @ 118.95...3rd target @

120.53...stop loss @116.10

[09:19:32 28/10/08] Stalion : 343 pips total was made again, on EURJPY...if your buy stop

was in place



[09:22:16 28/10/08] skipper : OK Stalion - Than you

[09:22:40 28/10/08] djcarlos : Hit first trget GU.. its ll going up???

[09:22:49 28/10/08] Stalion : 1st target hit @ 1.5618 on the gbpusd...



[09:24:15 28/10/08] klho83 : 50%

[09:26:00 28/10/08] Stalion : am sorry it went too fast

[09:26:36 28/10/08] Stalion : you can reenter if you didnt get the 1st chance

[09:27:06 28/10/08] djcarlos : its falling

[09:27:15 28/10/08] Stalion : can klho83 explain how he allocates percentages to his

minilots??

[09:28:26 28/10/08] Stalion : then reenter with a buy stop at 1.5580

[09:28:58 28/10/08] Stalion : coz price will still move up, under normal market conditions

[09:30:59 28/10/08] klho83 : 4 mini lots. 2 (50%) set at 1st target,1(25%) set at 2nd target

and last 1(25%) 3rd target with trailing

[09:41:42 28/10/08] Stalion : thanks, K

[09:42:38 28/10/08] klho83 : Add 2 minilots at the entry pts ,hit again

[09:42:44 28/10/08] Stalion : cable proceeding steadily upwards to our 2nd target

[09:44:19 28/10/08] Stalion : Eno was right...the double bottom on the EURJPY was an

accurate one...

[09:51:22 28/10/08] Stalion : did you enter our gu trade?

[09:51:51 28/10/08] skipper : yes - thanks

[09:52:28 28/10/08] skipper : & have made the entry order on EUR/JPY

[09:52:29 28/10/08] Stalion : no probs....

[09:52:35 28/10/08] Stalion : kiwi??

[09:52:46 28/10/08] skipper : looks like cable is coming down now

[09:53:26 28/10/08] skipper : but pips from 1st target in the bag!

[09:54:31 28/10/08] Stalion : after price gets to 1st target or even just +20 pips in our

favour, we then adjust our stop loss upwards to our entry level point...dat ensures we get

out with little or no loss when price retraces against our position....remember half profits

would have been taken then

[09:54:44 28/10/08] monkeymagic : I tried to make trade - but got an error

[09:55:29 28/10/08] skipper : Yes - I moved sl to entry - so not losses!

[09:57:14 28/10/08] djcarlos : GU it still going up???? because i dont get the pips of 1st

target

[09:57:14 28/10/08] skipper : OK - closed out now

[09:58:14 28/10/08] Stalion : the EURJPY call was for yesterday....skipper...price needs to

drop down to 116.83 before going back upwards...

[09:58:50 28/10/08] Stalion : did you factor that info in with our original entry order on

the EURJPY?

[10:00:46 28/10/08] skipper : Stal I have adjusted pending buy order accordingly. Thanks for

checking!

[10:01:52 28/10/08] djcarlos : waht is the new entry @ for eur???

[10:04:37 28/10/08] Stalion : it might be better to put a buy limit on the EURJPY @

116.83...OR wait for price to breach 116.83 first before placing a buy stop on it....sl

@115.85

[10:05:26 28/10/08] Stalion : or just stick with our original entry point of yesterday

[11:55:23 28/10/08] djcarlos : Klho83 I have a question, if the SL if far than 1st target,

the loose 50% it will make a lost position

[12:03:09 28/10/08] skipper : dj when 1st target is hit - move sl to breakeven for the

remaing 50% of your trade.

[12:03:25 28/10/08] skipper : That way you bag the money on first target

[12:03:43 28/10/08] skipper : then if you let the rest of your trade run, you can not go

wrong

[12:04:32 28/10/08] skipper : worst case scenario - you have profit from 1st target getting

hit - then market moves in opposite direction & your stop gets hit at zero.

[12:04:44 28/10/08] djcarlos : ahh!! ok if I hit the first target, i would have move my SL

to the hit... ok thats good

[12:05:13 28/10/08] skipper : No don't move sl to hit - move sl to entry point

[12:06:16 28/10/08] djcarlos : ok sorry... yo entry point... thanks it very good technics

[12:06:42 28/10/08] skipper : ok - it works well

[12:09:04 28/10/08] djcarlos : what do you think for the cable to Eur/Jpy.... its will be

had results??

[12:10:27 28/10/08] skipper : I only study cable - CBI results just out were better than

expected - very surprising

[12:11:19 28/10/08] skipper : although they haven't caused any movement as such

[12:17:48 28/10/08] caprica1 : morning everyone. How goes it?

[12:19:37 28/10/08] skipper : I re-entered on the cable long & got 100 pips - thanks stal!

[12:37:51 28/10/08] caprica1 : Anything for this morning so far?

[12:41:05 28/10/08] klho83 : Yes, GU hit all target!



[12:43:27 28/10/08] caprica1 : kool! Plenty of pips then?

[12:43:40 28/10/08] klho83 : Another pending order but i don't think to EJ wu come to the

price:

[12:44:01 28/10/08] djcarlos : congratulation, i had a mistake and dont win

[12:44:02 28/10/08] klho83 : EURJPY @ 116.83...OR wait for price to breach 116.83 first

before placing a buy stop on it....sl @115.85

[12:47:21 28/10/08] caprica1 : yeah it's quite long way away from the entry at the moment.

[17:41:47] Stalion : hope you made some money off our gbpusd and eurjpy call?

[17:43:22] Stalion : we put a buy stop on GBPUSD @ 1.5620...1st target @ 1.5655...2nd target

@ 1.5670


 

forexgreenland

Freshie
Joined
Oct 19, 2008
Messages
40
Reaction score
0
Points
6
Forexgreenland, I went long at 1.59 due to the break above the

resistance at about 1.5890. I guess I really had my target to high for 50 pips at 1.5950,

really only 30 pips is what I was going to go for and had set limit to 1.5930 and then

changed it. It's all good with me though I got out of that with with a small 30 point loss,

and then made 90 pips last night so up 60 for yesterday. I'm still a little doofed on what

position to take at this moment, no idea.
Hi willaballa,that means there was nothing wrong with your entry at 1.59 due to a break of

resistance at 1.5890...it was just a challenge of targets and exits,dats all...Like you

rightly said, 30 pips is okay for a trade,especially if you multiply it by multiple lots..2

minilots would be like 90...4 minilots like 120...
You just need to believe more in yourself and your strategy in order to have the confidence

to make successful trades...Its only a matter of time...you'll get there,as long as you

strive to be better than who you were yesterday..
As I write, the next alert is on the last segment of the chat..

P.s- Trading is not 100% perfect neither is it cast in brick and mortar...price might still

go down instead of up, so please use proper risk management.



Hi Sylvester! I`m new in the market, so I'd like you to tell me what book,publication or

website you suggest me to readr. Thank you , greeting from Argentina!!!
Helloo Mauro...Howz Beunos Aires and your fellow gauchos in the pampas? You rock,amigos...
Well, if you are looking for forex resources, you can check at babypips for some

introductory stuff...Then maybe go through Technical Analysis of the Financial Markets by

John J Murphy, and the Candlestick Course by Steve Nison..That should help for a start..


[08:25:01 28/10/08] monkeymagic : morning skipper

[08:56:28 28/10/08] skipper : morning everyone

[08:59:18 28/10/08] monkeymagic : hows everyone going with their trading?

[09:00:25 28/10/08] djcarlos : HI everyone from chile, 05:00 here

[09:01:00 28/10/08] monkeymagic : djcarlos - you must be keen

[09:02:00 28/10/08] monkeymagic : its 9.00pm in New Zealand

[09:02:42 28/10/08] skipper : 8am UK - any alerts today guys?

[09:03:32 28/10/08] monkeymagic : I haven't seen any

[09:05:44 28/10/08] djcarlos : somebody wake up me when the alert is ready

[09:05:56 28/10/08] monkeymagic : lol

[09:06:00 28/10/08] djcarlos : jeje

[09:09:53 28/10/08] Stalion : helloo everyone..

[09:10:00 28/10/08] skipper : morning stal

[09:10:25 28/10/08] djcarlos : good night yet here jeje!

[09:10:44 28/10/08] klho83 : hi gm all!

[09:11:38 28/10/08] Stalion : hope you'all had a good night rest.....

[09:12:34 28/10/08] Stalion : did anyone take the EURJPY trade yesterday?

[09:13:10 28/10/08] skipper : yes - thanks

[09:13:31 28/10/08] klho83 : No

[09:14:03 28/10/08] monkeymagic : that would have been in the middle of the night for me

[09:14:19 28/10/08] Stalion : we put a buy stop on the GBPUSD @ 1.5570...1st target @

1.5618..

[09:15:56 28/10/08] Stalion : 2nd target @ 1.5668...sl @ 1.555520

[09:16:19 28/10/08] Stalion : sory, 1.5520

[09:16:50 28/10/08] skipper : OK Stal

[09:18:25 28/10/08] Stalion : [15:18:31 27/10/08] Stalion : We also put a pending buy stop

order on EURJPY @

[09:18:36 28/10/08] Stalion : 117.10,1sttarget @ 118.00, 2nd target @ 118.95...3rd target @

120.53...stop loss @116.10

[09:19:32 28/10/08] Stalion : 343 pips total was made again, on EURJPY...if your buy stop

was in place



[09:22:16 28/10/08] skipper : OK Stalion - Than you

[09:22:40 28/10/08] djcarlos : Hit first trget GU.. its ll going up???

[09:22:49 28/10/08] Stalion : 1st target hit @ 1.5618 on the gbpusd...



[09:24:15 28/10/08] klho83 : 50%

[09:26:00 28/10/08] Stalion : am sorry it went too fast

[09:26:36 28/10/08] Stalion : you can reenter if you didnt get the 1st chance

[09:27:06 28/10/08] djcarlos : its falling

[09:27:15 28/10/08] Stalion : can klho83 explain how he allocates percentages to his

minilots??

[09:28:26 28/10/08] Stalion : then reenter with a buy stop at 1.5580

[09:28:58 28/10/08] Stalion : coz price will still move up, under normal market conditions

[09:30:59 28/10/08] klho83 : 4 mini lots. 2 (50%) set at 1st target,1(25%) set at 2nd target

and last 1(25%) 3rd target with trailing

[09:41:42 28/10/08] Stalion : thanks, K

[09:42:38 28/10/08] klho83 : Add 2 minilots at the entry pts ,hit again

[09:42:44 28/10/08] Stalion : cable proceeding steadily upwards to our 2nd target

[09:44:19 28/10/08] Stalion : Eno was right...the double bottom on the EURJPY was an

accurate one...

[09:51:22 28/10/08] Stalion : did you enter our gu trade?

[09:51:51 28/10/08] skipper : yes - thanks

[09:52:28 28/10/08] skipper : & have made the entry order on EUR/JPY

[09:52:29 28/10/08] Stalion : no probs....

[09:52:35 28/10/08] Stalion : kiwi??

[09:52:46 28/10/08] skipper : looks like cable is coming down now

[09:53:26 28/10/08] skipper : but pips from 1st target in the bag!

[09:54:31 28/10/08] Stalion : after price gets to 1st target or even just +20 pips in our

favour, we then adjust our stop loss upwards to our entry level point...dat ensures we get

out with little or no loss when price retraces against our position....remember half profits

would have been taken then

[09:54:44 28/10/08] monkeymagic : I tried to make trade - but got an error

[09:55:29 28/10/08] skipper : Yes - I moved sl to entry - so not losses!

[09:57:14 28/10/08] djcarlos : GU it still going up???? because i dont get the pips of 1st

target

[09:57:14 28/10/08] skipper : OK - closed out now

[09:58:14 28/10/08] Stalion : the EURJPY call was for yesterday....skipper...price needs to

drop down to 116.83 before going back upwards...

[09:58:50 28/10/08] Stalion : did you factor that info in with our original entry order on

the EURJPY?

[10:00:46 28/10/08] skipper : Stal I have adjusted pending buy order accordingly. Thanks for

checking!

[10:01:52 28/10/08] djcarlos : waht is the new entry @ for eur???

[10:04:37 28/10/08] Stalion : it might be better to put a buy limit on the EURJPY @

116.83...OR wait for price to breach 116.83 first before placing a buy stop on it....sl

@115.85

[10:05:26 28/10/08] Stalion : or just stick with our original entry point of yesterday

[11:55:23 28/10/08] djcarlos : Klho83 I have a question, if the SL if far than 1st target,

the loose 50% it will make a lost position

[12:03:09 28/10/08] skipper : dj when 1st target is hit - move sl to breakeven for the

remaing 50% of your trade.

[12:03:25 28/10/08] skipper : That way you bag the money on first target

[12:03:43 28/10/08] skipper : then if you let the rest of your trade run, you can not go

wrong

[12:04:32 28/10/08] skipper : worst case scenario - you have profit from 1st target getting

hit - then market moves in opposite direction & your stop gets hit at zero.

[12:04:44 28/10/08] djcarlos : ahh!! ok if I hit the first target, i would have move my SL

to the hit... ok thats good

[12:05:13 28/10/08] skipper : No don't move sl to hit - move sl to entry point

[12:06:16 28/10/08] djcarlos : ok sorry... yo entry point... thanks it very good technics

[12:06:42 28/10/08] skipper : ok - it works well

[12:09:04 28/10/08] djcarlos : what do you think for the cable to Eur/Jpy.... its will be

had results??

[12:10:27 28/10/08] skipper : I only study cable - CBI results just out were better than

expected - very surprising

[12:11:19 28/10/08] skipper : although they haven't caused any movement as such

[12:17:48 28/10/08] caprica1 : morning everyone. How goes it?

[12:19:37 28/10/08] skipper : I re-entered on the cable long & got 100 pips - thanks stal!

[12:37:51 28/10/08] caprica1 : Anything for this morning so far?

[12:41:05 28/10/08] klho83 : Yes, GU hit all target!



[12:43:27 28/10/08] caprica1 : kool! Plenty of pips then?

[12:43:40 28/10/08] klho83 : Another pending order but i don't think to EJ wu come to the

price:

[12:44:01 28/10/08] djcarlos : congratulation, i had a mistake and dont win

[12:44:02 28/10/08] klho83 : EURJPY @ 116.83...OR wait for price to breach 116.83 first

before placing a buy stop on it....sl @115.85

[12:47:21 28/10/08] caprica1 : yeah it's quite long way away from the entry at the moment.

[17:41:47] Stalion : hope you made some money off our gbpusd and eurjpy call?

[17:43:22] Stalion : we put a buy stop on GBPUSD @ 1.5620...1st target @ 1.5655...2nd target

@ 1.5670


 
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