[08:45:22 09/10/08] klho83 : hi stal and cap

[09:18:32 09/10/08] fxjedi : stal,i made almost 100 pips yesterday from gu call,if not my

trailing stop got stopped out,lol,

[09:32:38 09/10/08] Stalion : bUY gbpusd @ 1.7328, 1st target @ 1.7377...2nd target @ 1.7435

[09:42:05 09/10/08] argunes : Hi everyone

[09:42:07 09/10/08] Stalion : stop loss @ 1.7250

[09:42:27 09/10/08] Stalion : hi argunes

[09:46:05 09/10/08] fxjedi : helloo

[09:48:29 09/10/08] Stalion : for those dat didnt get the alert, just scroll up and you'll

see it..

[09:49:04 09/10/08] argunes : Stalion, I see a resistance GBP/USD at 1.7340, what do you

think about it?
[09:49:43 09/10/08] fxjedi : UK Rate Cuts Come At A Cost -Seymour Pierce: The impact of the

synchronized interest rate cuts Wednesday should not be judged too quickly, says Amit Thakar

at Seymour Pierce. "It will take time, irrespective of the asset markets' instant reaction.

Whilst we do not anticipate another coordinated move, we believe the UK, US and the European

monetary authorities will ease by another 50bps before the end of the year," he says. Adds

however, there will be costs associated with such moves, particularly in the UK. "The UK

public finances will move from a perilous state to almost unsustainable state at

structurally 5% of GDP," says Thakar.

[09:53:20 09/10/08] Stalion : a lot, argunes...

[09:53:56 09/10/08] Stalion : b4 I say anything....what does wilmart and cap think about it?

[09:54:08 09/10/08] Stalion : and jedi..

[09:57:37 09/10/08] fxjedi : umm,maybe resistance can be broken above that 17340 level?

[09:59:43 09/10/08] argunes : i see next resistance levels are 1.7400 and 1.7460 GBP/USD

[10:00:05 09/10/08] Stalion : yes, jedi...there's a good possibility price might break dat

resistance..

[10:00:29 09/10/08] wilmart : Stal abt wat?

[10:00:43 09/10/08] argunes : and it looks like 1.7430 is vulnerable GBP/USD

[10:01:18 09/10/08] Stalion : if you check your 15min chart, argunes, you could also notice

a 1-2-3 bottom, in which the 2 level has already been breached..and MACD positive divergence

to price

[10:02:09 09/10/08] argunes : Thanks Stalion. I see.

[10:02:11 09/10/08] Stalion : also a trendline break to confirm bullish move....

[10:02:44 09/10/08] Stalion : if there are no unexepected or high impact news, price would

follow technical analysis...

[10:04:12 09/10/08] fxjedi : yes, stal,its there all right

[10:06:57 09/10/08] fxjedi : but dont you think the stop at 17250 is kind of high?

[10:09:26 09/10/08] masif1 : just got picjed up the alert

[10:09:40 09/10/08] masif1 : placed the order and its just triggered

[10:10:43 09/10/08] Stalion : yes it is,jedi....from our entry point, dats like a 78 pip

risk...

[10:10:47 09/10/08] Stalion : hi masif

[10:10:58 09/10/08] masif1 : hi stal

[10:11:40 09/10/08] Stalion : going for a total of 107 pip reward

[10:11:52 09/10/08] Stalion : up to our 2nd target

[10:13:39 09/10/08] Stalion : the reason was dat we get stopped out more when we stick to a

rigid 40 pip stop loss...but by taking cognizance of support and resistance levels, we can

use dat as our exit points or stop loss levels...though with much wider risk

[10:17:38 09/10/08] Stalion : did anyone see the 1-2-3 bottom?

[10:18:53 09/10/08] caprica1 : back. Just had to take a shower

[10:18:56 09/10/08] wilmart : yeah

[10:19:09 09/10/08] argunes : I see it.

[10:20:22 09/10/08] fxjedi : me too,stal,but isnt therr a posibility gu might go down

instead of up?

[10:21:32 09/10/08] caprica1 : you know I saw the 123. I couldn't find them at first, but

all I can see now are 123's lol

[10:24:05 09/10/08] masif1 : 123!!!!

[10:24:07 09/10/08] masif1 : lol

[10:24:26 09/10/08] Stalion : might go up or down, jedi...nothing is 100% in this

business...we follow our trading plan

[10:24:46 09/10/08] fxjedi : abc's!!

[10:30:02 09/10/08] Stalion : we wud've gotten stopped out by dat spike down if we used a 40

pip sl...since price went to a low of 1.7289...

[10:30:14 09/10/08] albashir : peace be unto u all.....

[10:31:26 09/10/08] Stalion : but by putting our sl below low or support of the previous

grid/pychological number, we avoided being stopped out...so guys, wat wud you prefer?

[10:32:14 09/10/08] Stalion : a 40 pip sl and getting stopped out more often but reaching ur

targets...or a wider sl based on support and resistance, with wider risk...if stopped out..

[10:32:21 09/10/08] Stalion : hi albashir..

[10:32:33 09/10/08] wilmart : Cool all,its valid

[10:32:34 09/10/08] caprica1 : I think the wider stop, based on the current market

conditions

[10:33:52 09/10/08] wilmart : Get prepared to make some pips

[10:35:24 09/10/08] fxjedi : but whatabout equity,stal,what if stop loss is higher than 5%

of trade,what to do?

[10:35:30 09/10/08] Stalion : what do you think, argunes?

[10:35:32 09/10/08] Stalion : To Be or Not To Be???

[10:37:34 09/10/08] argunes : It's to be I think. Market volatility is high nowadays. For

our best interest putting stop loss orders to support levels are a must.

[10:38:13 09/10/08] caprica1 : you could always adjust your lot sizes FX to compensate

[10:40:58 09/10/08] masif1 : wider stop stal

[10:41:10 09/10/08] masif1 : this is something i've always raved on about

[10:41:23 09/10/08] argunes : But as Stalion said if we don't want to be stopped too early

putting 10-20 pips below support levels are wiser move.

[10:42:02 09/10/08] masif1 : this is what i've done

[10:42:11 09/10/08] masif1 : the first target is 40pips profit

[10:42:23 09/10/08] Stalion : nice move, masif...

[10:42:29 09/10/08] masif1 : so i've put an order for target as the second target

[10:42:42 09/10/08] masif1 : and put a 40pips trailing s/l

[10:43:28 09/10/08] fxjedi : but we have not yet gone onto first target!

[10:43:40 09/10/08] masif1 : i know

[10:44:00 09/10/08] masif1 : my sl is at 17250

[10:50:17 09/10/08] Stalion : since EURUSD and GBPUSD tends to move together, most of the

time, it would also be a nice idea to keep an eye out on euro dollar..its on a topping

formation now...looking to go down...which is also influencing cable..

[10:53:31 09/10/08] caprica1 : isn't that a hammer bar on the cable 15M chart?

[10:53:47 09/10/08] Stalion : and dats one of the main reasons price is dilly dallying

around our entry @ 1.7328...trying to decide whether to follow its own technical bias(long)

or play tag with EURUSD(short)...To Be Or Not To Be....lol..

[10:59:57 09/10/08] Stalion : 7 more pips to our 1st target of 1.7377...7 lucky

number...lol..

[11:01:04 09/10/08] caprica1 : should I be taking half profits now at +20?

[11:01:57 09/10/08] argunes : Hourly cable RSI has passed 50 and it's a good bullish sign

[11:02:04 09/10/08] Stalion : yes, please do....market volatility doesnt care whether you

lock in profits or not...it just moves..

[11:02:17 09/10/08] caprica1 : kool

[11:02:46 09/10/08] caprica1 : keep stop where it is?

[11:04:27 09/10/08] Stalion : take half or one third profits when +20 pips ahead..the move

stop loss to entry..

[11:05:12 09/10/08] Stalion : we shouldnt allow greed of the reward(target) to hinder us

from proper risk mgt...

[11:14:14 09/10/08] argunes : Guys I gotta go. Have a nice trading day.

[11:22:40 09/10/08] caprica1 : stopped out on the adjusted stop loss, but closed half lot at

+20

[11:27:23 09/10/08] wilmart : Its more safe to exit now



[11:31:55 09/10/08] Stalion : 1st target hit @ 1.7377

[11:34:32 09/10/08] Stalion : where price made a high of 1.7378...then went back down...hope

you now see the reasoning behind locking your profits when you get the chance..

[11:35:34 09/10/08] Stalion : standby for reentry if you were stopped out at the prearranged

profit of +20 pips..

[11:39:36 09/10/08] fxjedi : i c

[11:41:13 09/10/08] caprica1 : kool

[11:42:49 09/10/08] caprica1 : at what price? The same as before?

[11:52:18 09/10/08] Stalion : yea....cap...at the original buy order..

[11:54:37 09/10/08] caprica1 : ok

[12:33:56 09/10/08] klho83 : Set 1st target and back to my pc hour later. Found firrt target

hit. But SL at 1.7250 just hit

[12:39:38 09/10/08] Stalion : we could see a double 123 bottom whammy forming...the second

one should breach our 1st target at 1.7377 again, for the double whammy to be confirmed..

[12:39:48 09/10/08] caprica1 : just missed re-entry by a few pips. So put a buy limit in

place

[12:40:00 09/10/08] klho83 : After hit the fisrt target. Price went down to exactly 17250

and took my SL

[12:44:49 09/10/08] klho83 : 75% set at 1st target. 25% set at 2nd target. I didn't change

the SL

[12:46:39 09/10/08] caprica1 : my re-entry limit triggered, back in an waiting for another

+20 to close half lot.

[12:50:54 09/10/08] caprica1 : +20 half lot closed again

[12:58:22 09/10/08] klho83 : congra! cap

[13:02:18 09/10/08] klho83 : going in again?

[13:03:08 09/10/08] caprica1 : ntopped out just yet

[13:03:41 09/10/08] caprica1 : now it has! lol

[13:05:26 09/10/08] klho83 : M in too!

[13:24:23 09/10/08] klho83 : target 17400

[13:44:49 09/10/08] klho83 : +20pips .all flat

[13:54:14 09/10/08] masif1 : nice nice chicken and rice

[13:54:29 09/10/08] masif1 : taken 20 pips again

You can wish that I'll fail to get

my target.

[/QB][/quote]

Hey Jarod, you forgot to add ''I wanna have his nuts for breakfast''..



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.





Hi 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

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

[09:29:18 14/10/08] caprica1 : morning

[09:29:42 14/10/08] klho83 : Hi Cap gm

[09:43:39 14/10/08] caprica1 : how are you K?

[09:48:11 14/10/08] klho83 : m doing fine cap .Thanks. U missed yerterday trade?

[09:57:13 14/10/08] fxjedi : gm all

[10:02:40 14/10/08] Stalion : helloo everyone
.
[10:16:03 14/10/08] fxjedi : UK House Sales At Record Lows - RICS:

[10:16:21 14/10/08] fxjedi : The latest RICS house price survey released overnight

showed UK house sales in September fell to record lows, while the net balance of

surveyors reporting prices falling against rising was -84.2 compared with -81.8 in

August. It's difficult to tell if the data had any impact on sterling, however

GBP/USD has fallen in early Europe and now trades at 1.7440 from the day's high of

1.7547, while EUR/GBP is trading in the middle of its 0.7830-0.7794 day's range

[10:25:10 14/10/08] Stalion : BUY STOP ON GBP @ 1.7570...1ST TARGET @ 1.7610..2ND

TARGET @ 1.7648

[10:26:50 14/10/08] caprica1 : do your buy prices include your spreads Stal?

[10:27:08 14/10/08] Stalion : STOP LOSS @ 1.7505

[10:27:57 14/10/08] Stalion : no....please add spreads to price...2 or 3 pips...

[10:28:10 14/10/08] caprica1 : lol. Just checkinh

[10:32:10 14/10/08] Stalion : price looks to retracing down to 1.7470

[10:35:32 14/10/08] Stalion : the trend is still up,guys...in which the retracement

level is inside the uptrend...get it?

[10:36:32 14/10/08] Stalion : cool...

[10:43:53 14/10/08] Stalion : price diving down to the 1.7470 area...pardon the

pun,cap..

[10:48:40 14/10/08] caprica1 : lol. None taken

[10:54:04 14/10/08] Stalion : so why do we see price dipping to that 1.7470 area?

[10:57:32 14/10/08] caprica1 : no sure. The high of yesterday was .7442

[10:58:51 14/10/08] Stalion : so??

[11:01:35 14/10/08] Stalion : for now..dats not the high to to be looking for...the

one at 1.7566 could be more productive really..soo, what were you thinking when you

mentioned the high of yesterday..especially in relation to that region?

[11:02:11 14/10/08] Stalion : masif??

[11:04:00 14/10/08] caprica1 : yesterday's high could act as support

[11:05:50 14/10/08] Stalion : helloo there takbal...

[11:06:04 14/10/08] takbal : hi all

[11:07:03 14/10/08] Stalion : yes, it sure could...but it might be more incisive if

we take the swing low at 1.7413 as major support..

[11:11:13 14/10/08] masif1 : hi stal

[11:13:45 14/10/08] caprica1 : yep

[11:34:57 14/10/08] Stalion : price making a counterattack to the bullish side

[11:39:17 14/10/08] caprica1 : yeah it's moving back up to the entry.

[11:44:41 14/10/08] Stalion : price needs to breach two resistance area before it

gets to our trigger..

[11:49:38 14/10/08] caprica1 : where are those areas

[11:55:46 14/10/08] Stalion : we are at the first area now..at 1.7550

[11:56:20 14/10/08] Stalion : 2nd area is 15 pips away at 1.7566

[11:56:53 14/10/08] Stalion : hi enolase

[11:57:03 14/10/08] enolase : hi

[11:58:29 14/10/08] Stalion : welcome aboard and fasten ur sealbelts...

[11:58:37 14/10/08] Stalion : seatbelts

[12:00:24 14/10/08] enolase : any orders yet?

[12:01:01 14/10/08] fxjedi : just imagin you just retired and 60 percent of your

portfolio in stocks....hmmm, I guess retirement is already over for some..No choice

but to keep working till death...The talking heads think this will extend, yeah

right....another selling opp if ya ask me...this world is headed for Revolations

spelled out in the Bible...And Im not even a religon activist....

[12:01:23 14/10/08] fxjedi : its up there enolase

[12:05:10 14/10/08] fxjedi : UK Gilts The UK government faces a £2B paper loss on

its investment in the country's banks - FT

[12:05:42 14/10/08] Stalion : BUY STOP TRIGGERED...

[12:07:46 14/10/08] fxjedi : whooppiieeee...!!

[12:09:54 14/10/08] Stalion : not so fast...

[12:10:49 14/10/08] enolase : my network is slow

[12:11:18 14/10/08] Stalion : starcomms?

[12:15:58 14/10/08] fxjedi : EUR/USD : The current expected trading ranges from the

monthly cycle projected series are 1.3390 // 1.3476* - 1.3562 - 1.3648 - 1.3734 -

1.3820* - 1.3906 - [1.3992]. A critical resistant point is positioning at 1.3749

[13:21:01 14/10/08] Stalion : please take half profits now as price is at

1.7605...+30 pips..

[13:25:17 14/10/08] Stalion : hi masif///

[13:27:05 14/10/08] Stalion : the recent high has been pierced right now....which

looks like a continuation of the uptrend

[13:28:49 14/10/08] Stalion : +40 pips...



[13:30:20 14/10/08] Stalion : 2nd target 1.7685

[13:30:51 14/10/08] Stalion : or just place a 15 to 25 pip trailing stop...

[13:32:01 14/10/08] enolase : just exited at 1.7624

[13:33:22 14/10/08] fxjedi : that was kinda fast,enolase

[13:33:39 14/10/08] enolase : i will look for a safe re-entry point

[13:34:58 14/10/08] enolase : with this my network i can't take no stupid chances

[13:36:10 14/10/08] enolase : Starcomms cost me badly last week Monday

[13:36:51 14/10/08] enolase : was in profit to the tune of $2000 at a point, then

just as I was about to place a trailing stop, my network disappeared (for the next

one week)

[13:37:44 14/10/08] enolase : and I ended up making only $800 from the trade (price

had retraced by the time i was able to get to a cafe where i had downloaded the MT4

platform

[13:37:45 14/10/08] Stalion : why not use multilinks?

[13:39:01 14/10/08] Stalion : or better still...cobranet or swift networks...they

are broadband and very fast....see if dey are operating in ur area...jus 15 or 16k

per month...like starcomms

[13:41:27 14/10/08] masif1 : do u mean 3rd target 17685?

[13:44:41 14/10/08] Stalion : yes...masif.....3rd target @ 1.7685....

[14:45:48 14/10/08] Tpack : hi is this room active ?

[15:03:24 14/10/08] masif1 : we got stopped out on the way to 2nd target

[15:03:30 14/10/08] masif1 : damn something wrong with the chat box

[15:17:07 14/10/08] Tpack : hi masif1 is the chatbox playing up ?

[15:18:15 14/10/08] masif1 : i think so

[15:36:16 14/10/08] enolase : well, just logged back in to see that GU dropped like

it wqs hot

[15:36:45 14/10/08] enolase : looks like i made a wise choice taking what i was

able to get and scramming

[16:26:54 14/10/08] masif1 : yep got stopped out again

[16:27:07 14/10/08] masif1 : looks like gu going down down down

[10:17:01 15/10/08] fxjedi : hi all

[10:18:37 15/10/08] Tpack : hi fxjedi

[10:20:56 15/10/08] fxjedi : stalion sent a text alert, looks like he coudnt yet make it

online

[10:22:17 15/10/08] fxjedi : buy stop gu at 17467,1st target at 17509, 2nd target at 17535,

sl at 17421

[10:23:06 15/10/08] fxjedi : hi klho83

[10:23:10 15/10/08] klho83 : yup! got it. thanks

[10:23:28 15/10/08] klho83 : thanks fx

[10:23:29 15/10/08] fxjedi : did u get text?

[10:23:59 15/10/08] klho83 : yes

[10:24:06 15/10/08] fxjedi : ok

[10:25:59 15/10/08] fxjedi : hope we have another good trading day today

[10:39:23 15/10/08] Stalion : hi everyone..

[10:40:06 15/10/08] Stalion : sorry for being late today...had some problems with my

internet network...even the back up was down...

[10:41:03 15/10/08] fxjedi : hi stal

[10:41:48 15/10/08] Stalion : helloo there jedi..I seen you got my text alrite...

[10:42:38 15/10/08] fxjedi : sure did,

[10:44:07 15/10/08] Stalion : price on the GBPUSD steadily moving up to our 1st target of

1.7509..presently at 1.7500 as we speak..

[10:45:57 15/10/08] Stalion : hi tupac

[10:46:33 15/10/08] Tpack : Hi Stalion

[10:47:15 15/10/08] klho83 : Hi stal thanks for the text alert

[10:49:21 15/10/08] klho83 : TP 1 hit

[10:49:23 15/10/08] Stalion : no probs,K...part of the package,u know...I jus got back on

after some hours of internet disconnection...had to call my broker and ask for prices before

the text alert

[10:49:37 15/10/08] fxjedi : 1st taget hit



[10:50:14 15/10/08] Stalion : cool

[10:50:21 15/10/08] caprica1 : Hi Stal. How's it going ?

[10:50:31 15/10/08] Stalion : take profits, den shift stop loss to entry as usual...

[10:50:49 15/10/08] Stalion : helloo there cap

[10:52:01 15/10/08] Stalion : please dont wait until price retraces and clear out ur

profits....just take half profits now, den shift sl to entry...d remaining half is for 2nd

target or reentry

[10:53:24 15/10/08] Tpack : nice call stalion I can see the price projection from

17420-17495 and applied to the 17467 , was the trade a 60pct from the high of the17495 and

then the triger is the higher higs on the candles ?

[10:59:53 15/10/08] fxjedi : gu going for seconfd taget

[11:04:30 15/10/08] Stalion : cool...

[11:04:34 15/10/08] masif1 : did i miss the alert

[11:04:40 15/10/08] masif1 : first target alredy hit?

[11:05:41 15/10/08] Stalion : am not sure I understand your question,tupac...?

[11:06:11 15/10/08] Stalion : yes, masif....a lil late for the party..

[11:06:38 15/10/08] Stalion : but you can still go for 2nd target...though with more higher

risk..

[11:08:39 15/10/08] Tpack : Hi Stalion . I was just checking to see if I could figure where

you got the projection from and what was the trigger as price was meandering in and around

that area for a couple of areas what wass the trigger which made your decision ?

[11:08:58 15/10/08] Stalion : remember guys, once it gets to the 1.7525 region, you can put

in a a 15 to 25 pip trailing stop on the trade..since our sl is now at entry, we are

''playing with house money''..

[11:10:48 15/10/08] fxjedi : Always take three ‘vectors’ to understand a position, in order

to orientate a direction ‘of trade’.

[11:11:04 15/10/08] fxjedi : A fourth gives conformation

[11:11:17 15/10/08] fxjedi : It is a matter of certainty of a trade – or how stable you are

sitting on a seat with less than three or four legs

[11:11:30 15/10/08] fxjedi : Of course it all depends on what time scale you trade on – but

the longer charts cannot be ignored.

[11:11:46 15/10/08] fxjedi : Pips are where pips are for now

[11:13:43 15/10/08] Stalion : you could say any trigger on a trade wud be due to a

''confluence of events''...and intuition

[11:21:57 15/10/08] Stalion : 2nd target hit.....!!



[11:22:28 15/10/08] Stalion : 25 pip trailing stop locked on

[11:23:41 15/10/08] fxjedi : just made 68 pips , stal,

[11:23:55 15/10/08] fxjedi : thanks

[11:24:10 15/10/08] fxjedi : Very Happy

[11:24:55 15/10/08] Stalion : no probs...jedi...the market did it again..

[11:25:26 15/10/08] Stalion : and looks like its going for more pips..

[11:26:12 15/10/08] fxjedi : whooohoooo,

[11:27:33 15/10/08] fxjedi : The outlook for emerging-market currencies isn't particularly

positive, even if the appetite for risk continues to recover.

[11:31:55 15/10/08] fxjedi : Emerging-market currencies have managed to recoup some of their

recent losses as investors swallow their concerns and return to the markets, but they're

still likely to exercise a high degree of caution toward these risky units, analysts warn.

[11:32:16 15/10/08] Stalion : are you still in the GBPUSD trade, K?

[11:33:28 15/10/08] klho83 : 50% 1st Target .25% 2nd target last 25% trailinggggggggg

[11:33:36 15/10/08] masif1 : well done guys

[11:33:59 15/10/08] masif1 : so now your on a 25pips trailing s/l?

[11:34:22 15/10/08] klho83 : 30pips trail

[11:39:03 15/10/08] Stalion : you see, yesterday, if you'd use our standard risk mgt

principle, you would have been stopped out at ur entry while making +40 pips...

[11:40:53 15/10/08] Stalion : remember, the market is not the same like 6 months ago...lots

of volatility and bad financial news out there,.....so it wont be prudent if we always wait

for an extended rally or decline breakout,which doesnt occur all the time..

[11:41:13 15/10/08] Stalion : even enolase cut his profits yesterday and scrammed

[11:41:55 15/10/08] fxjedi : gu shhoting up,

[11:42:19 15/10/08] fxjedi : am 100 pips gain

[11:42:35 15/10/08] fxjedi : klho83, can you see that?

[11:43:02 15/10/08] klho83 : Hitting The Moom Smile

[11:44:07 15/10/08] Stalion : mama mia!!!!

[11:44:22 15/10/08] fxjedi : yeah!



[11:44:50 15/10/08] Stalion : santa maria!!!

[11:45:18 15/10/08] fxjedi : yea!

[11:45:35 15/10/08] fxjedi : LMAO

[11:46:17 15/10/08] fxjedi : Laughing My A** Out!

[11:47:07 15/10/08] masif1 : wheres klho?

[11:47:21 15/10/08] masif1 : well done guys

[11:47:37 15/10/08] klho83 : Still on the flight!

[11:48:04 15/10/08] fxjedi : lol

[11:48:32 15/10/08] fxjedi : rocket to moon?

[11:48:56 15/10/08] klho83 : Stal where can land?

[11:50:06 15/10/08] Stalion : dont be greedy,guys....we are ''playing with house money''

now...since our sl is at entry point...or 15 to 30 pips in trailing stop...

[11:51:08 15/10/08] Stalion : you can land when price retraces down to 30 pips..in

yourcase...ur trailing stop kicks in and ensures you get out at the farthest price can go in

the moment

[11:53:13 15/10/08] klho83 : out for 120pips

[11:53:46 15/10/08] Stalion : see it pause and retrace at the pychological number/grid at

1.7600

[11:54:19 15/10/08] klho83 : yeap! round number

[11:54:31 15/10/08] Stalion : then retrace down to stop K at a 120 pip profit..

[11:56:25 15/10/08] fxjedi : sure,i got out at 128 pips,

[11:59:00 15/10/08] Stalion : We gotta learn to take trading seriously, masif...Trading is a

business and should be treated as such

[11:59:36 15/10/08] masif1 : noted

[11:59:55 15/10/08] fxjedi : with a 15 pip sl

[12:00:17 15/10/08] fxjedi : traillingsstop

[12:01:59 15/10/08] Stalion : cool

[12:07:32 15/10/08] Stalion : price retracing downwards...the bearish drive may continue to

1.7500 or lower

[12:08:43 15/10/08] Stalion : or just continue going up...

[12:09:30 15/10/08] Stalion : where do you think its going,K..?continue up or going down?

[12:12:17 15/10/08] Stalion : I've already sold, by the way

[12:12:20 15/10/08] fxjedi : down?

[12:12:55 15/10/08] Stalion : yes...jedi

[12:13:21 15/10/08] Stalion : but to how much distance?

[12:15:00 15/10/08] fxjedi : not sure,but maybe going down to previous support

[12:17:17 15/10/08] Stalion : cool

[12:18:51 15/10/08] Stalion : some made close to 130 pips in less than 3 hours today...

[12:19:54 15/10/08] Stalion : +128 pips, $128 minilot...$1280 standard lot on cable (GBPUSD)

[12:37:01 15/10/08] klho83 : Hi Stal just back to my PC. GU should go up futher. Resistance

level at 17630 ..?

[12:39:01 15/10/08] enolase : a very great call

[12:40:34 15/10/08] klho83 : MACD already shows sign of divergence..

[12:41:39 15/10/08] klho83 : wu retrace from there or lower..correct me stal ..if i'm

wrong..

[12:56:08 15/10/08] masif1 : so who's on short on GU now?

[13:04:42 15/10/08] enolase : i actually set my target there

[13:27:32 15/10/08] enolase : GU formed a double top at 1.7570

[13:28:42 15/10/08] enolase : i checked my one hour chart and found that it made 1.7570

yesterday and today

[13:38:05 15/10/08] masif1 : so u went short on it as well?

[14:46:39 15/10/08] argunes : hi everyone! looks like i missed the fun.

[18:16:24 15/10/08] Stalion : yes you did, argunes....

[18:47:17 15/10/08] Stalion : [12:07:32 15/10/08] Stalion : price retracing downwards...the

bearish drive may continue to 1.7500 or lower

[18:47:41 15/10/08] Stalion : Price moved almost 300 pips below 1.7500

1)
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

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..



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..



[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

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...

Thanks, IndigoSun

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

Hi Martin01..I sure hope so too...lol..


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...

[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

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