Any Share dealer / Forex Trader around?

[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

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




Hi zigzug, I'm not sure about what you mean by how such info might affect liteforex...can

you please explain more?


[08:52:53 17/10/08] masif1 : by the way guys

[08:53:05 17/10/08] masif1 : the short on cbale triggered

[08:53:28 17/10/08] masif1 : but went for about 5pips and retraced back and got stopped out

Sad

[09:00:35 17/10/08] kokowater : EU is good for a short now

[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

[09:11:37 17/10/08] caprica1 : morning everyone

[09:12:30 17/10/08] Stalion : hi cap....koko...

[09:13:03 17/10/08] caprica1 : how was your night?

[09:14:08 17/10/08] Stalion : hope you'all had a good nite rest../

[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

[09:16:35 17/10/08] fxjedi : GBP/USD : The market is going to consolidate within 1.7177 -

1.7332 for the time being. A projected resistant point is positioning at 1.7607. Today is

the end of the weekly cycle. One have to be very cautious that the market can easily

consolidate within the weekly cycle pivot centers at 1.6796 - 1.6999 - 1.7298.

[09:17:33 17/10/08] fxjedi : Hedge Funds Lost $34.5B To Redemptions In Sept

[09:17:53 17/10/08] fxjedi : Hedge funds lost US$34.5 billion to outflows and lost an

additional US$44.5 billion from losses in September, according to new data from Eurekahedge.

This brings the global hedge fund industry down to US$1.8 trillion in assets, down from

US$1.9 trillion in January. Usual year-end redemptions are expected to exacerbate losses at

hedge funds in 4Q. Funds are already grappling with tanking markets, counterparty risk, and

short-selling restrictions.

[09:18:17 17/10/08] Stalion : HI k

[09:18:47 17/10/08] klho83 : any trade alerts?

[09:19:46 17/10/08] Stalion : [10:06:28] Stalion : Sell Stop on the gbpusd @ 1.7250..1st

target @ 1.7220...2nd target @ 1.7195

[09:22:12 17/10/08] klho83 : Thanks

[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.

[09:24:35 17/10/08] caprica1 : Smile

[09:25:32 17/10/08] fxjedi : Are you scared of trading sometimes ? You are not alone...

[09:27:18 17/10/08] fxjedi : Because ...1/These times have been tough: "What's humbling is

that you could be the best trader, best investor, or best analyst in the world and this

market will still bring you to your knees," Mazzella said.

[09:28:18 17/10/08] fxjedi : "The crash of 1987 was a picnic compared to what traders are

seeing today," said Steve Claussen

[09:29:20 17/10/08] fxjedi : SHOW NO FEAR AND USE YOUR MOST IMPORTANT MUSCLE .....YOUR BRAIN

!!! 8-)

[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,,,//

[09:33:42 17/10/08] fxjedi : EUR/USD still in downtrend with longer-term target at 1.3000,

says Deutsche Securities senior FX analyst Koji Fukaya. Global hedge funds' moves to

liquidate investments in EUR-denominated assets to take profits or cut losses ahead of

end-November book closing, or just to give USD funds back to investors, likely to continue

for while, he says. "Funds' position-liquidation has more room to run. They're liquidating

various positions into dollars and giving them back to their clients" who prefer cash.

Near-term EUR/USD target 1.3300, then 1.3200; last 1.3467 on EBS. Adds USD/JPY likely

directionless in 99.00-103.00 range near-term, partly as Japan investors have stopped

repatriating overseas assets, watching to see if moves taken by developed economies

alleviate global financial turmoil; pair last 101.60

[09:33:59 17/10/08] caprica1 : it's always always nice to finish the week off with a winner

though

[09:34:33 17/10/08] fxjedi :

http://www.reuters.com/article/reutersEdge/idUSTRE49F9PL20081016

[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...

[09:39:52 17/10/08] fxjedi : CHICAGO (Reuters) - Traders who have thrived on wild swings in

market prices for decades are now having trouble staying on the unprecedented rollercoaster

that is Wall Street.

[09:40:30 17/10/08] fxjedi : The jerky swings in the Dow Jones industrial average .DJI has

been compounded by the lack of liquidity, brought on by hedge funds which are being forced

to reduce leveraged positions

[09:40:31 17/10/08] caprica1 : masif dont forget to add your spreads to the stop figure

Smile

[09:41:00 17/10/08] masif1 : 1.7320?

[09:42:04 17/10/08] kokowater : Good morning everyone

[09:42:09 17/10/08] caprica1 : yep. Smile

[09:43:10 17/10/08] Stalion : morning koko...Tpack...

[09:43:30 17/10/08] klho83 : gm koko

[09:45:04 17/10/08] caprica1 : Stal have you used the buy/sell windows on the cable?

[09:45:07 17/10/08] Tpack : morning stal ,all

[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

[09:58:04 17/10/08] fxjedi : With Oil closing below 70 yesterday, ECB might well consider a

cut next month - provided oil holds to down.

[09:58:24 17/10/08] fxjedi : In between the short term 1.3420 support has held, as is short

term bit oversold, but larger term seems still positioned to down.

[09:58:44 17/10/08] fxjedi : Yet talks of Deutsche Bank problems today around might weigh,

but till It holds that level up I'll do nothing waiting the US stock today...dangerous

again, but supported somehow - yet the market doubts any clear plans before the US november

election ends.

[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?

[10:20:51 17/10/08] caprica1 : the direction bias for gu is still long on the 240 chart.

[10:24:40 17/10/08] Stalion : [10:11:52 17/10/08] kokowater : i still believe in the short

of cable..

[10:24:51 17/10/08] Stalion : [10:14:07 17/10/08] kokowater : we have a good 123 formation

on gu looking at 4hrs

[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.

[10:33:06 17/10/08] caprica1 : looking at the price movement. The HH and LL of the candle

bars.

[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?

[10:38:53 17/10/08] caprica1 : I'm looking at the swing highs and swing lows.

[10:39:12 17/10/08] caprica1 : Obviously when it makes HH and HL price is going up up

[10:39:26 17/10/08] caprica1 : LL and LH price would be going down.

[10:39:56 17/10/08] caprica1 : LH and HL would mean a price range sideways.

[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

[10:50:42 17/10/08] fxjedi : Sleep

[10:52:39 17/10/08] Stalion : We also put a buy stop on the cable @ 1.7385...1st target @

1.7425...sl @ 1.7320...

[10:53:08 17/10/08] Stalion : brb

[11:01:33 17/10/08] caprica1 : second target is wrong stal lol

[11:04:23 17/10/08] masif1 : what 2nd target?

[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

Online aboki

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..


Carlos Espinoza wroteon October 20, 2008 at 4:51pm
Were is this espetacular Chat??? I want to suscribe too....


[13:45:33 21/10/08] Stalion : helloo everyone

[13:45:43 21/10/08] skipper : Hi

[13:45:46 21/10/08] Stalion : hi masif...skipper, tundope..

[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

[14:42:48 21/10/08] fxjedi : GBP/USD : The initial downside targeting points are 1.6946 -

1.6957. The market may tackle the lower barrier of the daily cycle at 1.6832 // 1.6873 later

in the day.

[14:43:31 21/10/08] Stalion : hmmm...

[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...

[15:06:00 21/10/08] Stalion : Tuesday October 21, 2008 (9:00am NY Time) CA BOC Bank Rate

Forecast 2.00% Previous 2.50% Bank of Canada is expected to cut rates down to 2.00%. If we

get a as expected rate decision, or 2.00%, there would be no trade. However, if BOC decides

to cut only by 0.25% and leave rates at 2.25%, then we would SELL USD/CAD immediately; if

BOC cuts rate to 1.75%, we would BUY USD/CAD. However, it is very unlikely for BOC to

surprise the market, especially in today's volatile market.

[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

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[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?




[10:13:03 24/10/08] Stalion : HI skipper..djcarlos, didi

[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,can i have your email?would like to know a few things

[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


[10:47:03 24/10/08] didi : stal just sent u a pm.could u reply pls.and any suggestions for

stop loss

[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

[11:00:27 24/10/08] Stalion : hi joksa

[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