[08:51:15] Stalion : hi fellas

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

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

[08:51:47] takbal : hi all

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

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

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

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

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

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

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

pips I think.

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

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

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

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

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

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

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

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



[09:01:47] takbal : eur IFO

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

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

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

[09:03:10] wilmart : really

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

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

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

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

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

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

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

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

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

[09:07:26] orkinv : any news

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

Recession - Sharp Interest Rate Cuts In Europe

[09:10:12] wilmart : ok

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

[09:11:55] orkinv : wow

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

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

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

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

[09:18:05] wilmart : welcome masif

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

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

get out...remember, guys

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

upside down..like euro's doing...lol

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

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

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

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

[09:23:26] masif1 : agreed stalion

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

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

[09:24:02] orkinv : yes ooo

[09:24:05] orkinv : agreed

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

risk, i mean

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

[09:24:52] wilmart : sure

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

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

[09:29:27] masif1 : lol

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

report, we might likely see a turnaround..

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

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

[09:32:05] masif1 : hi all

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

at dat point...

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

[15:09:35] Stalion : FUELING UP D GU AND GJ BULLISH MOMENTUM

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

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

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

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

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

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

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

[15:27:57] takbal : me too

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

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

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

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

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

[15:34:25] takbal : looks promising

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

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

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

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

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

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

[15:53:11] Stalion : broken it......next step higher

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

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

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

point in the morning before the fakeout..at least, breakeven..so, dere shud be more buying by now



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

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

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

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

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

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

[16:31:08] r2r : congrats Stallion

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

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

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

[16:47:41] orkinv : i just checked and it hit the target