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

[forexgreenland]

[09:55:34 07/10/08] didi : hello everyone

[10:51:28 07/10/08] masif1 : hello

[11:03:41 07/10/08] Stalion : helloo everyone..

[11:06:18 07/10/08] masif1 : hi stal

[11:06:34 07/10/08] masif1 : how u doing bro?

[11:57:09 07/10/08] fxjedi : hello masif

[12:05:27 07/10/08] caprica1 : you there dude?

[12:51:46 07/10/08] fxjedi : Stal, we missed yesterday gu drop and it went close to 200

pips
[12:51:47 07/10/08] caprica1 : how is everyone?
[12:53:14 07/10/08] Stalion : cool
[12:56:10 07/10/08] Stalion : i saw that,jedi....went short at the 2nd support level

@1.7455...
[12:57:15 07/10/08] Stalion : price on the gbp is going up to 1.7515 before turning around

[13:50:00 07/10/08] Stalion : we put a sell stop on gbpusd @ 1.7483...1st target @

1.7455...2nd target @ 1.7425...

[13:50:43 07/10/08] fxjedi : sl?

[13:52:37 07/10/08] Stalion : 1.7545 as stop loss

[13:53:35 07/10/08] fxjedi : okay

[14:14:28 07/10/08] Stalion : price on cable has breached the 60% sell window...so we should

be seeing a turnaround in the downside..

[14:15:34 07/10/08] Stalion : if the opposite occurs, as in ,a sustained uptrend, that means

a new trend forming..

[14:16:36 07/10/08] Stalion : the one we are watching now on the 15th minute, is a

retracement...

[14:18:20 07/10/08] Stalion : if it continues going up, a new trend...an uptrend,..is

formed..

[14:20:41 07/10/08] fxjedi : if i get you right, stal, do you mean we are retracing?

[14:25:55 07/10/08] Stalion : yes, jedi....if you look at price now, we are @

1.7546...technically, we are around the level where the retracement is over,with an

intermediate high, then resuming its prevailing downtrend

[14:30:03 07/10/08] Stalion : but if the uptrend is sustained, and breaks the next

resistance high

[14:32:05 07/10/08] Stalion : we see opportunity for a counter trend

[14:46:41 07/10/08] Stalion : whats the name of the spike up there,cap...the high...

[14:51:48 07/10/08] klho83 : Hi Stal , the trade signal still valid?

[14:55:32 07/10/08] Stalion : yes it is , K...do you have an answer to our question,K?

[14:58:38 07/10/08] caprica1 : sorry Stal got logged out again.

[15:03:15 07/10/08] Stalion : we could adjust our sell stop upward to 1.7565...1st target @

1.7530...2nd target @ 1.7440....

[15:04:08 07/10/08] Stalion : no probs....so whats d name of the candlestick high on the

gbpusd 15min chart



[15:05:13 07/10/08] caprica1 : shooting Star?

[15:07:29 07/10/08] caprica1 : or an inverted hammer

[15:09:12 07/10/08] Stalion : shooting star

[15:13:57 07/10/08] caprica1 : I was right first time! lol

[15:14:10 07/10/08] caprica1 : that is a reversal bar as well?

[15:20:26 07/10/08] fxjedi : but stal , what if the trend continue going up?

[15:22:10 07/10/08] klho83 : now triple tops

[15:22:54 07/10/08] Stalion : cool, K

[15:23:59 07/10/08] Stalion : but remember the current high has broken and pierced through

the two previous high region

[15:24:52 07/10/08] caprica1 : still got yesterdays high to break through to confirm an up

trend continuation for me

[15:25:11 07/10/08] klho83 : Is dat going to to breakout? Stal

[15:28:09 07/10/08] caprica1 : a triple touch of a price level would class it as resistance.

[15:28:28 07/10/08] Stalion : What is MACD saying on the 1hr and 15 min charts?

[15:29:55 07/10/08] caprica1 : GU has lost some of its momentum from the up move earlier on.

[15:31:03 07/10/08] klho83 : 1H MACD has crossed zero line in +ve zone

[15:31:22 07/10/08] fxjedi : do you mean divergence, stallion?

[15:32:00 07/10/08] klho83 : +ve divergence

[15:33:49 07/10/08] Stalion : yes, on the 1 hr chart..

[15:35:47 07/10/08] klho83 : On 15mins it looks a bit tired

[15:36:23 07/10/08] Stalion : using a demand(resistance trendline) from the current top of

price and a line on the top of MACD, we could see bearish negative dgence to price

[15:38:53 07/10/08] klho83 : On 15mins chart?

[15:39:11 07/10/08] Stalion : remember, guys...the 15min tends to act faster than the

hourly...so I guess a slight downward movement might take place before 1hr divergence kicks

in on thee upside..

[15:45:57 07/10/08] Stalion : can we see gu dropping it like its hot??presently @ 1.7564

[15:53:58 07/10/08] fxjedi : it going back up

[16:00:22 07/10/08] fxjedi : it is true theres is so much money in the system but it looks

like bankers are keeping it under their own matteress !!! this is strange. They borrow money

from the central banks, and put it back with them ...That way they are sure not to lose too

much !!!!

[16:11:27 07/10/08] fxjedi : i reentered,stal,

[19:10:47 07/10/08] albashir : been away all day...did u guys haf a trade call today?

[19:58:40 07/10/08] Stalion : so we made 125 pips, less 40 pips...which is a net profit of

*5 minilot,$850 standard lot on gbpusd..

[forexgreenland]

[21:50:35 07/10/08] forexplay : Hello Is anyone there
[08:54:06 08/10/08] masif1 : hello
[08:55:01 08/10/08] caprica1 : morning everyone
[10:19:03 08/10/08] Stalion : price made a triple bottom on our 60% buy window and SPOOF
[10:19:35 08/10/08] Stalion : IT GOES...
[10:23:13 08/10/08] klho83 : Hi Stal!
[10:36:51 08/10/08] Stalion : helloo there K
[10:37:23 08/10/08] caprica1 : hi Stal
[10:37:34 08/10/08] Stalion : what are we having now on the GBPUSD 15min chart? A
retracement or a trend?
[10:38:37 08/10/08] caprica1 : a retracement
[10:39:51 08/10/08] Stalion : everywhere so silent....
[10:40:20 08/10/08] Stalion : K?
[10:40:44 08/10/08] Stalion : remember to tell us ur reasons, guys?
[10:42:01 08/10/08] Stalion : c'mmon...K...you can do it...talk to papi
[10:42:58 08/10/08] klho83 : GU weak
[10:43:24 08/10/08] caprica1 : it's still contained with the previous swing high and swing
low
[10:46:05 08/10/08] Stalion : yea, K....but is it a trend or a retracement?
[10:46:54 08/10/08] klho83 : It treanding down
[10:47:19 08/10/08] klho83 : Trend Sir!
[10:47:23 08/10/08] caprica1 : the overall trend o the GU is down
[10:49:01 08/10/08] klho83 : If look at $H or daily chart GU is trending down
[10:49:22 08/10/08] klho83 : 4H od daily
[10:50:02 08/10/08] Stalion : Both are right....it was a retracement at that time cap was
watching ...though wanted to ask him at what percent of the ''containment'' should the
previous swing high differ from the previous swing low
[10:51:37 08/10/08] Stalion : it had to breach a percentage of the containment a la
caprica...in order to tell us there's a change of retracement to trend
[10:52:33 08/10/08] Stalion : or in some cases, trend to retracement
[10:56:41 08/10/08] klho83 : Hi Stal, Can U explain " Containment"?
[10:58:14 08/10/08] caprica1 : think it he means it that price was contained within the
previous swing high and swing low K
[10:58:34 08/10/08] caprica1 : Soit would have had to breach the swing low to confirm the
down trend continuation
[11:00:08 08/10/08] Stalion : voila
[11:00:33 08/10/08] caprica1 : see I have learnt something! lol
[11:01:45 08/10/08] Stalion : hope you understand,K
[11:04:21 08/10/08] caprica1 : I sent you a PM about the buy and sell windows Stal. You get
it?
[11:04:41 08/10/08] masif1 : i dont understand
[11:05:16 08/10/08] masif1 : the british government is to bailout the UK banks with £50
Billion
[11:05:26 08/10/08] masif1 : but cable is still dropping
[11:05:29 08/10/08] Stalion : remember most times, we look for a breach of the pyschological
number/grid below or above the 60% retracement level to confirm establishment of a new
trend...in this case, a downtrend
[11:59:22 08/10/08] fxjedi : ECB Unlikely To Join Coordinated Cut: Don't count on a
coordinated rate cut, says Calyon. "Doubts have to remain over the ECB's commitment to such
a plan," the bank says, suggesting that monetary policy, like the various money market and
banking sector policy changes, "will remain local in origin and scope."
[12:43:46 08/10/08] fxjedi :
Fed orders emergency rate cut, other banks follow - Yahoo! News
2BCs0NUE
[12:44:07 08/10/08] fxjedi : WASHINGTON - The Federal Reserve, acting in coordination with
other global central banking authorities, cut a key U.S. interest rate by half a percentage
point Wednesday to steady a teetering economy. ADVERTISEMENT The Fed reduced its key rate
from 2 percent to 1.5 percent. In Europe, which also has been hard hit by the financial
crisis, the Bank of England cut its rate by half a point to 4.5 percent, while the European
Central Bank sliced its rate to 3.75 percent. Other central banks also taking part include
the banks of Canada, Sweden, and Switzerland.
[12:45:37 08/10/08] fxjedi : if everyone is cutting rates,i wudnt think there wud be any
reaction in the markets,stal
[14:38:13 08/10/08] Stalion : Sell Stop on the gbpusd @ 1.7390, 1st target @ 1.7355, 2nd
target @ 1.7305, 40 pip sl

[14:57:21 08/10/08] Stalion : 10 pips to go
[15:02:20 08/10/08] Stalion : breaching the two grids/pyschological number levels
below,signifies price retracement turning to a new downtrend..
[15:06:01 08/10/08] Stalion : many traders also wait for the major low/support to be
breached before confirming a new downtrend on the bearish side..
[15:10:09 08/10/08] Stalion : take half profits now, if you havent done so already
[15:10:25 08/10/08] fxjedi : hi
[15:13:51 08/10/08] Stalion : helloo argunes,jedi
[15:14:57 08/10/08] argunes : I've jsut entered and I see its amazing so many experienced
traders sharing information
[15:15:05 08/10/08] Stalion : thanx, man....How is Instabul?
[15:15:34 08/10/08] argunes : Rainy nowadays.
[15:16:18 08/10/08] Stalion : same here in Lagos...
[15:16:27 08/10/08] argunes : May I ask what time is it on your location?
[15:17:06 08/10/08] Stalion : Its 3.16pm here
[15:17:10 08/10/08] Stalion : urs?
[15:17:51 08/10/08] argunes : 17.17 here.
[15:18:53 08/10/08] Stalion : 2hr ahead
[15:20:02 08/10/08] argunes : Yes. I need to leave. Good trading everyone.
[15:28:20 08/10/08] Stalion : thanks argunes
[15:28:57 08/10/08] Stalion : 1st target hit

[15:36:47 08/10/08] Stalion : whats DKK,jedi?
[15:37:31 08/10/08] fxjedi : BOE especially, but also ECB have plenty of room to cut rates
further. Unfortunately the stock markets will need to drop further to spur them into action.
Paulson urged this move because his wife has urging him to stay home this weekend and once
take a weekend free without a rescue operation.
[15:38:19 08/10/08] fxjedi : am not realy sure,am jus sharing forex news,stal
[15:48:35 08/10/08] fxjedi : looks gu is going down again to next target,stal
[16:00:53 08/10/08] fxjedi : Japanese Nobel Physics laureate Toshihide Maskawa, an introvert
devoted to thinking about the universe, has no passport to go to Stockholm to accept the
prize, his wife revealed on
Wednesday...Shy Japanese Nobel laureate has no passport: wife - Yahoo! News
Ancrtabipo7uzkpAj7MgGVxxFb8C
[16:08:50 08/10/08] Stalion : please put a 15 to 25 pip trailing stop on it
[16:11:09 08/10/08] fxjedi : roger dat
[16:16:31 08/10/08] fxjedi : 2nd target hit

[16:21:10 08/10/08] Stalion : lol...dats nice....a trailing stop will ensure you follow
price to its lowest before cutting you out..
[16:27:49 08/10/08] fxjedi : am thru for d day, stal,
[16:28:00 08/10/08] fxjedi : thanks a lot

Originally Posted by forexgreenland

By our extrapolation, we could see price on the GBPUSD reaching a low of 1.7264..
So for a good entry, we could either sell now or wait for price to finish its upward

retracement and break the support in line with the prevailing downtrend to our next low or

support at 1.7264.
Since our analysis was taken from the hourly chart(1 hr), it might take sometime before we

reach our target.

[forexgreenland]

[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

[forexgreenland]

[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

[forexgreenland]

Originally Posted by vider

Mystikal,you think you are one popular hotshot or a Jack Hershey,with those

stupid moves you tink you got.well better get off your high horse and eat pooh.YOU ARE

NOTHING,UNDERSTAND,NOTHING!

[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)

[12:20:43 15/10/08] Stalion : hi there, eno

[12:21:11 15/10/08] Stalion : did you get the text alert?

[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