Chance

The Chance card denotes a period in which taking risks may produce positive results. This

doesn't mean head off to a casino with your life's savings! What is suggested is that you

should make gains by taking a well calculated risk. For the power of Chance to be fully

realized it is essential that you pick your risk carefully, move forward with conviction,

and above all else don't get greedy!

Congratulations,bitrader...price rocketed up way beyond a high of 1.7740...like a jet..
But the thing is you didnt put any entries...mon ami...That is the most delicate part of

it..at any timeframe... TIMING OF THE ENTRY...because at the time you post it(6.01 PM

EST?)yesterday, you would have been stopped out from the downward bearish hammer spike..
So concetrate on your entries...especially in this time of market volatility..

[09:33:40 13/10/08] Stalion : hi all

[09:37:13 13/10/08] wilmart : Gm stal

[09:39:24 13/10/08] klho83 : hi stal

[10:05:10 13/10/08] fxjedi : i made close to 100 pips last friday from your call,but am

still wondering why you call it black friday?

[10:09:05 13/10/08] Stalion : lol..jedi....someone..or was it you...mentioned Black Friday

earlier on...so I just took up the joke...but glad we reached our 3rd targets though/../

[10:11:37 13/10/08] fxjedi : yes indeed

[10:13:07 13/10/08] fxjedi : The legacy of the current financial market carnage should be a

stronger JPY and weaker Euro and USD, says Standard Bank's Steve Barrow. The USD will be

hurt because the US banking model is broken and this will make overseas investors wary of

buying US assets they previously invested in. The Euro will lose out because the economic

and financial disruptions seen will cause immense political strain in the region. However,

Barrow says Japan is an entirely different kettle of fish, it had its banking crisis some

time ago and as a result its financial markets are in much better shape. Unwinding of carry

trades, already being seen, will also continue. So for USD/JPY Barrow can see 90.0, possibly

80.0, while EUR/JPY slides toward 110.00.

[10:16:15 13/10/08] fxjedi : Commodity currencies are unlikely to rise even if global risk

appetite starts to recover, as it has early Monday.

[10:16:35 13/10/08] fxjedi : As events over the last two weeks have shown, the outlook for

the global economy is deteriorating rapidly - ensuring that commodity prices will remain

weak and that support for the currencies of Australia, New Zealand and Canada continues to

fall. "Commodity producers are the most vulnerable," said Paul Robson, foreign exchange

strategist with The Royal Bank of Scotland in London. "Markets are now pricing in

expectations of a deep recession," said Geoffrey Yu, a senior currency strategist at UBS in

Zurich as equity markets took another steep tumble, wiping as much as 40% from the value of

major stock markets since their highs in August 2007. Last week, as official attempts to

halt the credit crisis failed and risk aversion rose to its highest level in nearly 11

years, the arch-commodity currency, Australian dollar, was trashed. At one stage, it

collapsed nearly 20% against the yen, the currency seen as the prime safe haven in these

troubled times. The Australian economy itself was hardly providing any help.

[10:16:59 13/10/08] fxjedi : Not only has the Reserve Bank of Australia led the way for a

recent coordinated cut in global interest rates, by slashing its key rates by 100 basis

points, but the Australian stock market was diving too. Friday, prices fell 8.3%, the

largest fall since the crash of October 1987.

[10:17:09 13/10/08] wilmart : Stal,i really commend your effort

[10:17:47 13/10/08] Stalion : when are we going to see the end of all these bad news in the

financial markets?

[10:24:50 13/10/08] Stalion : We put a BUY STOP @ 1.7230, 1st target @ 1.7280..


[10:26:36 13/10/08] Stalion : sl 1.7168

[10:32:00 13/10/08] Stalion : we are seeing a 1-2-3 bottom formation, in which price have

already passed the number 2 mark...

[10:48:20 13/10/08] alanlewis : gpb/usd recovered well!

[10:49:24 13/10/08] fxjedi : that was a nasty spike down there early this morning,alanlewis

[10:50:30 13/10/08] alanlewis : i had a buy trade and got out before spikelucky!

[10:50:44 13/10/08] alanlewis : spike luckily.

[10:51:22 13/10/08] fxjedi : lol,lucky

[10:52:08 13/10/08] fxjedi : am not sure if the global crises is indeed feeding the markets

volatility

[10:52:39 13/10/08] fxjedi : The German government was on Monday preparing to endorse a bill

to restore liquidity and inject fresh capital in the country’s ailing banking and insurance

sector potentially worth up to €470bn – the biggest state intervention in the economy since

the end of the War.

[10:53:02 13/10/08] alanlewis : the media fuels the fear

[10:53:08 13/10/08] fxjedi : now, its like we cant talk about recession without referring to

War

[10:53:24 13/10/08] alanlewis : lol


[10:55:57 13/10/08] Stalion : our buy stop @ 1.7230 is about to get triggered..

[10:56:08 13/10/08] alanlewis : yep

[10:57:14 13/10/08] alanlewis : what targets do u have in mind stalion

[10:57:24 13/10/08] Stalion : based on our pattern we mentioned earlier...gbpusd might give

up a whole lotta pips ...

[11:05:53 13/10/08] fxjedi : Russia has fired three longe range missiles and declared its

nuclear deterrent strong

[11:06:57 13/10/08] alanlewis : any thoughts on gbp/chf, had a buy trade for 3 days up 500

pips or so where will it top out?

[11:07:02 13/10/08] fxjedi : Two of the missiles were fired from nuclear submarines in the

Asian and European extremes of the sprawling country while a third was watched by President

Dmitry Medvedev on land in northwest Russia

[11:10:17 13/10/08] fxjedi : A £516 trillion derivatives 'time-bomb'

[11:10:48 13/10/08] fxjedi : It's a market in which the lead protagonists – typically

aggressive, highly educated, and now wealthy young men – have flourished in the derivatives

boom. But it's a market that is set to come to a crashing halt – the Great Unwind has begun

[11:10:52 13/10/08] fxjedi : Not for nothing did US billionaire Warren Buffett call them the

real 'weapons of mass destruction'

[11:11:51 13/10/08] Stalion : hmmm....

[11:14:05 13/10/08] Stalion : under normal market conditions, alan, I think this is the time

to unwind ur gbpchf trade...price might turn around any time from now...

[11:15:16 13/10/08] Stalion : no particular directional movement for pairs due to lack of

news...

[11:15:26 13/10/08] Stalion : low momentum monday

[11:15:50 13/10/08] Stalion : but buy pending order still stands

[11:18:47 13/10/08] Stalion : technically, both gbpjpy and gbpchf are supposed to be on a

topping pattern...only time will tell when they drop and unwind..but dey shud

[11:21:14 13/10/08] Stalion : be back for New York Session,guys..

[11:31:59 13/10/08] alanlewis : my buy stop just took off

[12:55:00 13/10/08] masif1 : well done guys

[12:55:08 13/10/08] masif1 : i could take this trade




[12:55:18 13/10/08] masif1 : but looks like some pips were made?

[13:31:12 13/10/08] fxjedi : yea...masif....+65 pips...not even counting our 25 pip trailing

stop loss..

[13:32:06 13/10/08] fxjedi : lol!

[13:32:45 13/10/08] fxjedi : hi klho83

[13:33:14 13/10/08] fxjedi : did you see gu shoot up??

[13:33:52 13/10/08] klho83 : didn't put trialing

[13:34:24 13/10/08] klho83 : up more than 100pips

[13:34:35 13/10/08] fxjedi : am 200 pips in profits

[13:36:05 13/10/08] klho83 : Great!

[13:40:07 13/10/08] Stalion : nice start of the week,K

[13:40:25 13/10/08] Stalion : did you make any money?

[13:42:11 13/10/08] klho83 : Thanks Stalion! Please work harder Smile

[13:43:15 13/10/08] Stalion : lol....sure will....

[13:43:35 13/10/08] masif1 : excellent

[13:43:46 13/10/08] masif1 : well done guys

[13:44:00 13/10/08] masif1 : put a trailing s/l and you'll be laughing!

[13:45:39 13/10/08] Stalion : 25 pip trailing stop is on....just waiting for price to stop

me out at a +180 profits

[13:46:12 13/10/08] Stalion : stopped out

[13:47:33 13/10/08] Stalion : Very Happy

[13:48:00 13/10/08] masif1 : excellent stal

[13:48:22 13/10/08] masif1 : i used a similar method on fridays call and made about 100 pips

[13:48:38 13/10/08] masif1 : but then got greedy and gave half of it back

[13:48:50 13/10/08] fxjedi : you did it again,stal

[13:50:28 13/10/08] Stalion : not me,jedi....its the market...

[13:51:10 13/10/08] albashir : hello all.....

[13:51:26 13/10/08] albashir : hi stal...u did well was out with 245pips

[14:00:15 13/10/08] fxjedi : i can go back to sleep a happy man,stal

[14:02:04 13/10/08] Stalion : lol

[14:03:26 13/10/08] Stalion : trading is finished here for today...since we've ended on a

positive note....we'll be back tommorrow..

[14:03:46 13/10/08] Stalion : please feel free to ask any questions or comments...

[14:04:52 13/10/08] klho83 : Today I m a happy man too See u tomorow

Manic Monday: Dow roars back from worst week ever - Yahoo! News