forexgreenland's Blog

Thanx for the response, Forexgreenland. Looks like

 

I'm in the wrong forum.

 

 

 

I googled "uptick rule" and every search result was in a language that I don't understand.

 

They don't allow short-selling with IRA money. They also won't allow day-trading. Ah,

 

according to Investopedia, the uptick rule was eliminated June 6, 2007.

 

There are lots of equities just lying on the floor at bargain prices, just bubbling

 

sideways. Good for some profits sometime in the future, but not doing anything right now. It

 

looks like Forex is always active. (I know nothing about this market. Looks tricky).

 

I liked your zen-oriented description of the trader's frame-of-mind in your opening post in

 

this thread. I'm still in the first stage with some forays into the second. It is an

 

interesting journey.

Hi art,

I feel your pain...the languages coming out from those search engines on uptick rule were

kind of like finance hieroglyphics...since it had been eliminated since 2007, no worries..

yes, forex is always active with lots of volatility, but it only looks tricky when you are

not that familiar with the market.. Warren Buffet was right when he was quoted as saying

''Risk comes from not knowing what you are doing''..but you can still learn the ropes if you

are willing and committed..

Well, you dont really have to be a Zen Master, or a Yogi master, or Shaolin Master, or even

a Shambala Master, before getting ''in the flow''.. Just let yourself go..

''A journey of a Thousand Miles Begins With A Single Step..

Oil prices follow Wall Street on wild ride - Yahoo! News

As an American who has most of their savings in sterling, I've got one

 

word to sum up what I feel right now.

 

F*%K!!

Me too, barbs...I feel ya...

Ohh, by the way, lemme wish you Americans a Happy Thanksgiving Day in advance..Did I hear

someone say Turkey Day?

[10:09:20] Stalion : so we put a buy stop on gu at 1.4970...1st

 

target at 1 5025..2nd target at 1.5080...sl 50 pips away...

http://i72.servimg.com/u/f72/11/82/15/01/13th_n10.gif

What is happening? usd was sold accross the board (except agains yen)

 

by more than 200 pips in one hour or so. Can any body explain?

No probs, mon ami..The pound was battered after the Bank of England said on Wednesday the British economy would shrink sharply next year, bolstering expectations that further sharp cuts in interest rates were in the pipeline.Lower interests rates means lower value of the currency due to

investors selling the low yield currency to buy higher yielding currencies.. That would

bring about a downward sell pressure on the gbpusd.

I need to purchase 1000 GBP to pay a debt in the UK, and have

 

been trying to keep an eye on the exchange rate (as I'll have to buy the 1000 GBP with USDs

 

- I'm a US citizen and am paid in USDs )

 

Can you experts offer me suggestions around when I should buy the GBPs? I must have them by

 

end-of-month December 2008, but am not sure how to get a good idea (forecasting and such) as

 

to when between now and 31st Dec 2008 would be the best time to exchange USDs for GBPs.

 

Any help that you can offer if VERY much appreciated!!

 

Thanks!!

Mark

Hi markdaniel,any relations with mark anthony??LOL..

You've just boiled it down to a simple question..What is meaning of forex?

It is the buying and selling of international currencies..I think you might need a cup of

coffee for this..

For example, 1 GBPUSD is equivalent to 1.4700 dollars..1000 GBP is equivalent to 1470

dollars USD..that is, at the international rate of 1.4700...You are using 1470 dollars to

buy 1000 pounds sterling..

But wait...The current fundamentals suggest Britain is in the throes of recession, while the

BOE is about to further slash interest rates in the nearest future..Low interest rates from

bad economic recessionary data spewing forth from the UK is likely to pull the T-strings of

cable down south..wow..

http://i72.servimg.com/u/f72/11/82/15/01/13th_n11.gif

Technical analysis wise, price have fallen way beyond the 60% BUY WINDOW on the monthly

charts,with 4 long range bearish candles going ballistic underground.. Both MACD divergences

foretells bearish movement of price on the GBPUSD..A Category Four Trendline has already

taken place..

so come December, price getting to our projected target point of 1.3090, , you BUY 1000GBP

for $1,309 dollars..since the GBP would have likely lost more value in the weeks to come..Does that mean we might be seeing a dollar rally before the end of the year 2008? Of course..just got ma fingers crossed..

I hope you now understand..

Remember, nothing is cast in stone on forex...and in life...Also do your own research before

taking any recommendations...Feel free to discuss it here..

sorry guys, that I forgot to alert you due to internet blackout in my zone..more than 300

pips,$300 minilot,$3000 standard lot was made on the sell stop of gbpusd wednesday

afternoon.., which offsetted our previous double buy stop loss of 50 pips each..making back

more than 3 times our previous loss...Well,what can I say..

http://i72.servimg.com/u/f72/11/82/15/01/screen10.gif

Good stuff, useful info!

 

I think what a newbie like me has to do is get together all the relevant fx indicators and

 

all systems that I can get my hands on. Study them in depth to filter out the very good

 

from the o.k ones, get some experience under my belt by using them then trade live after.

 

As of yet I dont know of or understand any systems and rely heavily on forums such as this

 

one to get hints and tips as to where we're heading, or other than that put my index finger

 

in my mouth , hold it high above my head and take a punt!!!

 

Cant be good:confused:

Lol,fxlion, at least thats a strategy...but seriously though, we shouldnt depend on just

chance or others to make money in trading...The beauty of the CHART PATTERN RECOGNITION AND

PRICE PROJECTION STRATEGY is that you dont need to cram your screens with all sorts of

indicators because entries and exits are taken DIRECTLY FROM THE CHARTS.

http://i72.servimg.com/u/f72/11/82/15/01/eurusd10.gif

I have seen most of the charts and read about the news for today. I

 

have come to the conclusion that the market for today can be down. But some we can see some

 

stability also. Am i right friend.

Yes, you are right, mon ami...Price on the GBPUSD made a high of 14991, which was 8 pips

less than our 1st target of 14999..by placing your stop loss at entry point after +20 pips

ahead, you would have been stopped out at a profitable breakeven of 31 pips or less..Not too

bad..

http://i72.servimg.com/u/f72/11/82/15/01/buried10.gif

Stallion, I am having a hard time following your past calls. Where exactly can I find them.

I have a time difference and I'm trying to make proper adjustements prior to trading. You

start calls around 1am my time. Please let me know where on the website I can find an

archive. Also, from reading your posts you suggest to take half profit at 20 pips, then move

other half to break even s/l, if 1st target hit then sell half and so on. Is this correct

and holds true for all your calls? Thank you for the help. I should be up and running on new

year, I see big market swings coming our way.

Thanks for your mail,pips...I thank God for the positive mental attitude displayed in your

comments about the New Year..If we can make profits during the most volatile 3 months in

trading (October to December), then there's good reason to expect better things to come in

the nearest future.

I assume London Session starts 1am your time, depending on where you are in the US. The

archives can be found here:

http://forexgreenland.foruma.biz/forex-tec...-forum-t381.htm

It would be better to take off half profits when +20 pips, rather than waiting for 1st

target to hit..Time and tide, along with price,waits for no man..

Robert Kiyosaki, of the Rich Dad Poor Dad series,talked about the stock market burst some

ears ago, along with its effects on baby boomers and their Social Security program. Even

though he gave out some suggestions on how to avoid that pitfall by personal development and

education, most people then castigated him as a fraud who just wants to sell his books and

seminars. From what is going on in the global economy and the US, it appears he has been

vindicated.

http://abcnews.go.com/Business/PersonalFin...3517&page=1

Late last year, on one of the popular Nigerian forums, I predicted the Nigerian Stock

index(NSE) have reached its top and suggested readers should cover their positions and

unload their stocks. But as at then, the bulls were in control, stock newsletter and article

writers were fueling the bubble frenzy and screaming ''BUY''..

The young admin of the forum, maybe out of ignorance and emotional bias, reacted by banning

all forex traders off his site. But that didnt stop the stock market bubble to burst and

uneducated investors losing substantial amount on their equity. Those that took the time,

money and energy to understand and educate themselves on market behaviour saved themselves

from the bearish drop and even made profits from the decline.

In essence, as investors,we should strive to invest in ourselves.No one knows it all. Most

people made money in the Great Depression of the 1930's..We can too..

Hi Stal,

First of all thanks for pointing me to forexpeacearmy as it is a very good source of forex

information. I have been going through the broker reviews and feel like it has stopped me

from taking a wrong decision. I have managed to shortlist a few which I beleive are honest

as per the reviews.

Your comments or experiences on any of these would be very helpful, especially if u could

point one or two which I can go live with.

1.MB trading

2.Ikon-Royal

3.Tradeviewforex

4.Alpari Uk

Any help and insight would be highly appreciated..

Thanks,

Helloo there...

Well, it would be unseemly if I publicly endorse any of the brokers due to conflict of

interests.So am throwing it out in the open...Anyone that has comments or experiences with

any of these is free to post it here. Thanks once again.

so for wednesday, we put a buy stop pn GBPUSD @ 1.4735...1st target @ 1.4765..sl @ 1.4715...

also a sell stop @ 1.4700..1st target @ 1.4671...2nd target @ 1.4665..50 pips sl

Helloo Folks,

We thank God for bringing us to the begining of another brand new week and we give Him the

glory in ALL things..

This is Stallion,veteran forex trader and mentor. I would be reviewing strategic tips on how the major currency pairs can be milked. Though I specialize in gbpusd, other pairs would also be taken into consideration during our analysis.

It has been theorized that your state of mind will dictate your trading methods. Experts in the field of trading psychology have pinpointed three main states of mind and how each has a direct effect on a trader's profitability.

These three mind states are "having", "doing" and "being". Psychologists have noted that those new to trading start with a "having" state of mind. As they gain more experience, they move on to a "doing" state of mind. The pinnacle of profitability occurs when a trader moves into the last and final "being" frame of mind.

The "Having" Mind Set

A novice trader may focus primarily on profits. In this "having" state of mind, they are out of sync with the markets. They are blinded by their obsession to obtain the all mighty dollar and what it can afford them. Trading is not viewed as a job that must be mastered, but as a vehicle to escape from a world of mediocrity.

Many traders are in the business to make money, as well as they should be. However, if they are blinded by greed, they tend to take uncalculated risks. Looking at the potential payoff without carefully calculating market trends and other factors is a recipe for disaster.

It is impossible to graduate to a high performance level when you concentrate on "having" instead of how the game is won. If you trade in a "having" frame of mind, you may become frustrated when profits are not immediately forthcoming. With frustration comes a lack of focus. Without the ability to focus, you cannot gain knowledge from your experience on the trading field.

Other negative consequences of this mindset are feelings of frustration and anger. Frustration stemming from a lack of expected profits and anger directed at oneself or the market in general. These adverse emotions will only cause further decline in profitability. Without witnessing gains from one's efforts, an individual may not give their best and may be tempted to "throw in the towel".

The "Doing" State of Mind

If an individual continues on to trade another day, they will eventually move from a "having" to a "doing" state of mind. Learning that there is more to trading than the amassing of money, a trader will turn their focus on learning new methods of trading and what does and doesn't work.

This state of mind is still primarily centered on how to turn a profit. Although a "doing" mind state is essential to becoming a seasoned adept trader, the main focus is still short of the mark. It is crucial to know what works and what doesn't. However, a skilled trader will tell you there is more to the business then choosing one method and using it arbitrarily to make trades across the board.

Becoming a trader of means requires not only a winning attitude, but also a fine honing of trading skills. To develop these skills, you must make trades using various methods under a wide spectrum of market conditions. Only then can you develop the needed intuition to master the art of trading.

Pinnacle of Profitability: The "Being" State of Mind

A successful trader almost instinctively knows how to make a trade using the best method available for the current market trend and/or condition. This ability does not occur overnight. It is only accomplished through perseverance, knowledge of various trading methods and learning which one works given a particular market condition.

No trade is ever a "sure thing". However, a profitable synchronicity almost naturally occurs when you are faced with a potential trade, have a feel for the current market trends and conditions, and utilize the method best suited for a potential payoff. This "being" state of mind ultimately lends itself to long-term success in the high stakes of trading.

[20:06:58 07/11/08] Stalion : We put a SELL STOP on GBPUSD@ 1.5660...1st target @

1.5600...sl@ 1.5715

http://i72.servimg.com/u/f72/11/82/15/01/gu6th310.gif

How to set the graph become like this ?

Hi khairu, the red and blue lines you see on the chart is brought about through putting up a buy or sell order, which reflects on the ''graph''...To write out a text, just click the ''Insert'' tab above, next to ''View'' tab on your MT4 platform.. There, you can also experiment with trendlines, shapes, arrows, fib, gann..etc...just play around with it first and see how it translates on your chart.

So for today, Teusday, we could see a head and shoulder pattern on the GBPUSD 15 min chart,so we are looking for a bearish move down south...wow..

Sell stop on cable @ 14614...1st target @ 14565..2nd target @ 14535..50 pips stop loss...Take half profits when +20 pips ahead, then shift stop loss to sell entry level.

Hmmm the chart is showing breakout for short sell

 

Cool..Fxcool...if it breaks our triangle to the downside' date=' we are looking at a short sell,

 

like you said..but if price breaches the ''HEAD''(1.4775) level of the Head and shoulder pattern, then we might be seeing the continuation of a new uptrend..so buy stop at 14775..1st target @ 14825, 2nd target @14865..50 pip stop loss

 

 

[img']http://i82.servimg.com/u/f82/11/82/15/01/teusda10.gif[/img]

Hello Stallion,

 

You have not been posting for some time now. hope all is okay???

 

Please if you dont mind,i will like to ask you to tell me how you do draw your

trendlines on the price chart and MACD.

what and what do you consider or do before and while drawing them.

 

 

Also i want to develop a good entry and exit method while trading so that i will not enter

 

late or leave too soon on the market. please advise me on how to do this .

 

 

Please advise

 

Onwuka Arisa

Helloo there Onwuka, nice to get your mail... We thank God for everything..We should also

know there are times we shouldnt ignore our personal needs in order to satisfy others

needs..A burnt out Stallion is of no good to himself or to the people..just cant give out

from an empty cup whether you see it half filled or empty..so creative silence or quiet time

is essential for each and every human being..Mind you, you dont have to be a hermit

hibernating in a cave or a monk in the Himalayas before you get the centre of balance

within.. seems your questions have been asked before, and the answer was given..most times,

I often had to go back and read through the whole thread so as to get a better perspective

of where we are coming from and where we are

going..

http://www.forexpeacearmy.com/forex-forum/...7.html#post7998

http://i82.servimg.com/u/f82/11/82/15/01/theawa12.gif

http://www.forexpeacearmy.com/forex-forum/....html#post10269

To summarize, trendlines are connected from the current resistance/support high or low to

the previous resistance/support high or low of the candlebars.

It is also connected, if using MACD,between the current peak(highs) to the previous peak or

between the current trough(lows) and previous troughs of the MACD line. When the price

trendline is ascending in an uptrend and MACD trendline is descending in a downtrend, it is

called NEGATIVE DIVERGENCE.. When price trendline is downward and MACD trendline is upward,

it means POSITIVE DIVERGENCE.

Good entries and exits are also strategies that depends mainly on risk management principles

like risk to reward ratios.Most newbie traders/sportsmen wants to know the tricks...instant

gratification without expenditure of responsibilty..Your entries might be good but whatabout

whipsaws?what if you had perfect entry but the timing of the move sucks?How much are you

prepared to risk if the ''perfect entry'' does not manifest? Those are questions we should

ask ourselves before and during trading..

Can anyone recommend a good platform for trading CFDs?

Hi Natalie, to paraphrase annacoulli..

Brokers fall into 3 broad categories: ECN, non dealing and market maker

 

and from experience I have found there are at least 16 questions you should ask before

 

opening a forex account and these are as follows:

 

1. What is the net capital of the company

2. Is the company regulated

3. Is the company a dealer or a broker

4. What are the leverage and margin rules

5. What are the costs of trading

6. Does the company offer telephone support

7. How easy is the platform to use

8. Is the trading platform reliable

9. What is the charting like

10. How long has the company been in business

11. What reputation does it have in the forums

12. Trading style and order types

13. Micro, mini and regular account spreads

14. Interest on the account

15. Hedge trades allowed

16. Rollover

 

Once you have your answers it is so important to select a broker which matches your trading

 

style - it is pointless opening an account with a broker which is classified as a market

 

maker and then expect to be able to scalp - you will not be able to do so because spreads

 

widen alarmingly when the markets are volatile.

So CFDs(Contracts for Difference), are cash settled derivatives that reflect their

underlying markets like stocks, futures or forex contracts.CFDs can easily be traded short,

transaction speeds are usually fast, and they have low margin specifications, like 10% for

shares, 5% for share indices,5% for futures and 2% for currencies.They are also generally

open ended, as in, they have no expiration dates like options, commodities or warrants.

Another thing that makes CFDs stand out is they are available for diverse underlying markets

like the US, UK AND European shares CFDs, sector CFDs like Banks, Real Estate,Oil and Gas,

as well as forex and futures pairs.

hello whats your setting for MACD indicater . Thanks.

Helloo nasir.khan...any relation with genghis or kublai khan? anyways, you can just use the

standard settings on your platform, which is usually 12,26,9.. You could still tweak the

settings and compare the changes on the MACD indicator to price above...whichever one fits

your style is okay...

yeah i know forexgreenland your work speaks for itself.........but can you

 

tell me why you always summit chats on your maximum post. don't you have anything to

 

discuss....

Hmmm, this sounds like a counterattack from one of the feminine species,not just a welcome

party....Somebody stop me!You want to know why, mami? It is because those chats and charts

mainly represents a reflection of operations in the trading trenches..reflects trading minds

at different levels in which enlightening market themes and principles can be glimpsed and

learnt from..

At the risk of getting my eyes scratched out by our female folks, there are some

observations on the gender aspect to trading.females are less willing to take risk but more

willing to stick to their rules..Alpha male stereotypes tend to do the opposite..too much

machismo, too much ego on the line...brings about stumbling blocks to our trading life..so

if good traders are consistent at abiding to their rules and not taking unnecessary risks,

the ladies should do better in their pyschological makeup to trading. So guys, we got a lot

to learn from our womenfolk..thanks for your constructive criticism, Anne

http://i82.servimg.com/u/f82/11/82/15/01/theawa13.gif

Originally posted by Julieviola:

[QB] I really don't much about the psychology of stock trading but one that got me is the

 

"having" or the noobs quest for more money. As novice in this field I try to take a lot of

 

advice from many sectors and other forums similar to this one but my problem is information

 

overload.

 

It's so easy for a novice to get overloaded with information that instead of making a head

 

way in their quest to make more money, they simply sucks and cannot function as they should.

 

Don't get me wrong but the original thread is something for a novice like me to really put

 

into consideration.

 

Thanks for the tip [/QB]

Hi Julie...thanks for your mail...you are right when you mentioned the ''paralysis by

analysis'' factor that disable the functions of majority of the traders due to information

overload.In pursuit of the quest for profits, most of us tend to disregard the knowledge,

patience and determination required to come out on top in any field of endeavour,instead we

only focus on money..''how much can I make daily?''...I deserve a 100 pips dropping like

clockwork each and every day''... Stay with me here,viola, there's a madness to the method

and method to the madness..Its called the LAW OF DETACHMENT...thanks once again for your

comments, julieviola

Hey forexgreenland, we have missed you at NIGERIA BEST FORUM . NBF.

Since its been a while, we thought we would send you a personal invitation to return.

Hello, forexgreenland!

We've noticed that you've not been active on ForexForums.org for quite some time now, and we

miss you!

Could we not tempt you back?

Hmmm.....no need to do that,mon amis...am back....just being occupied by lots of projects

lately...so little or no time to post as much as before...

It seems like one of the most common questions we get, especially

 

from those new to trading, is something along the lines of "Which is better? Technical

 

analysis or fundamental analysis?" There's no perfect answer to that question, just like

 

there is no perfect technical system, nor perfect fundamental criteria. In fact, the best

 

answer may simply be "It depends on what works for your style of trading".

 

So if you choose one strategy, then work for it.. But if you want to use the two, then

 

that's better.. Combination of these two methods could give you too much advantage.

Nice observation, dollarfinder...I concur with your findings...There's no 100% perfect

system, whether technical analysis or fundamental news analysis..What matters most is proper

RISK MANAGEMENT in trading.. How long can your equity last if your system is on a losing

streak? How far can you go when the market goes schizophrenic over a period? 5 trades? 20

trades? 50 or a 100 trades before margin call...Hot situation makes a nice one, whatchu

gonna do...call 911?That is what majority of the professional traders focus on when

trading...Even in cooking, recipes of dishes are added proportionally, instead of putting

the ingredients all at the same time.. That proportional blending eventually brings about a

nice savoury dish....yumm yumm..Anyone hungry?

Frank Says:

Hello, thank you for this Posting. I am reading this Blog very often and i like to read this

blog. I hope you writing alot in this Blog. What you have to doo is to write more in this

Blog about everything.

Hi Mistikal,

 

You responded to my message on 01/06/09 regarding the two e-books listed below: I have not

 

received them as-of-yet. Please send them to me at your earliest convience, I am anxious to

 

learn how to trade in this new year. My PM address is...jehunter@cox.net

 

1 The Art Of Creativity

2 Fibonacci Trading - How To Master The Time and Price Advantage

 

Thank You and keep up the good work! You're the best.

I know, I know, jehunter....better to be the hunter than to be the hunted,especially of

pips..lol...wud send it as soon as possible,okay...

Hi Stalion,

 

I saw some -ve and some +ve comments on your thread. I don't really care about those -ve

 

comments. It's not fair to judge boobs by its cover . Personally am impressed with the

 

strategy you are using and I would like to learn it from you. Can you please tell how I can

 

join you during trading. Thanks.

Darn hayabusat,easy on the boobs fixation,okay...or you want to change the title of ''Sex in

the City'' to Sex in the Trading?not that healthy for clarity of mind..I must say.. Trading

mostly commences during the London Session where you have less range activity and more

stable volatility.

[10:02:58] Stalion : sell gbpusd @ 13920...1st target @ 13840...2nd target @ 13765...50 pip

sl.

http://i82.servimg.com/u/f82/11/82/15/01/theawa11.gif

Dear All,

 

Just a novice question. I keep hearing/reading the word 'intervene' by apex banks to control their currencies. When BoJ says it would intervene to maintain a strong USD, will there be any impact on EURUSD pair to maintain the correlation?

Helloo needinfo,central bank intervention is the buying and selling of currency, foreign or domestic, by central banks in order to influence market conditions or exchange rate movement for fiscal or monetary policy purposes.

Why should the Bank of Japan intervene for a strong dollar? Because it is to their best interests. Japan, as we all know, is an export driven economy and if the Japanese yen is stronger than the dollar, it hurt their exports and consequently their economy. Why import 15000 dollar cars from Japan when you can get it cheaper right there in America? Why import expensive electronics, computers,due to a strong yen, when you can get it cheaper from America itself, or even China or India?

But wait..Japan is also a savings oriented economy, in which, majority of the US international papers or debt are held by it...So the Japanese are not thrilled to watch the value of their investments in the US bond,Treasuries and Capital markets go down the drain as the US dollar weakens..

The USDJPY monthly chart below shows the decline of the currency pair..

http://i72.servimg.com/u/f72/11/82/15/01/dollar10.gif

Compared to EURUSD(eurodollar), which is on an uptrend,a strong dollar would have a weakening impact on the euro, popularly known in international financial circles, as the ''antidollar''.. Even Trichet, the President of the EU Central Bank(ECB) might likely welcome the gesture of the Japanese with open arms, because a strong dollar would weaken the euro and save them the unsavoury task of slashing interest rates in the nearest future..You could do more research if it affects your personal finance or business objectives, need

info..Did I hear someone say ''Don ichiban''?

http://i72.servimg.com/u/f72/11/82/15/01/eurdol10.gif

[11:53:40 30/12/08] Stalion : no need to be confused....we put a buy stop on gbpusd @

 

14550...1st target @ 14575..2nd target @ 14615..3rd target @ 14655

 

[11:53:44 30/12/08] Stalion : sl 50 pip away

Let me whisk you away to the forex charts on the DISSECTION OF A TRADE GONE WRONG. Remember the loss was also important though the LESSONS LEARNT from the loss are MORE IMPORTANT.

Now we are going into the reasons why we took a buy stop at that point..

A 123 bottom formation was observed prior to the alert given out, along with an inverted head and shoulder pattern forming at the bottom...Both are reversal pattern telling us that price is about to reverse from its downtrend to an uptrend.

MACD also made a positive convergence to price which was a buy signal..For the our fib fans out there, a la moneyadd, price made a turnaround on the 30% window, instead of the 60% sell window..which is not that unusual given the strong trend downward in price..

So it was more of a matter of TIMING, rather than STRATEGY. We might be right in taking a trade based on what our strategy is telling us, but if the timing is off bat,we take the loss...In this instance, we lost 50 pips yesterday..the market is always right..quite an humbling experience, isnt it?

http://i72.servimg.com/u/f72/11/82/15/01/tanks10.gif

So for today, wednesday, price finally came around and rocketed past our 3 targets like a valkyrie..technical analysiswise, our strategy was sound but the timing was off...price then compensated us with more than 105 pips..$105 minilot,$1050 standard lot on GBPUSD.

http://i72.servimg.com/u/f72/11/82/15/01/thanks10.gif

HAPPY NEW YEAR FOLKS and we give thanks to God for seeing us through a bumpy 2008..WELCOME

2009.

Hello guys,

 

I wanna say great job my strategy is very much like yours

 

But actually i don't watch the trades i just put the safe buy/sell STOP orders and targeting

 

10 pips .

 

I put my buy stop for up-trend when i get the confirmation of the 1,2,3 pattern at fibo

 

level 0.0 and only take 10 pips profit

 

the opposite for the sell but it's the same and i always lay those pips no loss

 

 

But after reading all your posts i might consider sitting in front of the screen and make

 

bigger profits .

 

My profits are big because i increase the lot size when my analysis gives higher probability

 

and i lay $200+ a day using it .

 

 

best of luck and again great job

 

but why aren't you drawing your fibo levels on the charts or you don't want it to look

 

complicated ?

Helloo moneyadd, thanks for reading all my posts...trying to make the time to read them

myself..lol..fibonacci are great support and resistance levels that can be used in trading

to ascertain price movement..but even with the knowledge of 'fibo'' levels, many traders

still make losses..prefer the 60% windows which are more simpler and accurate in my personal

opinion..remember KISS? Keep it simple,Smarty..so its about applying the right tools for the

right markets...not all size fits all in trading..

If you check out our chart below,we used the TRIANGLE PATTERN, more specifically, the

SYMMETRICAL TRIANGLE PATTERN. but why is it called a triangle? Because it looks like

one..Triangles usually form part way through a strongly trending move and represents a

congestive phase in the marketplace. These patterns are important because they are typically

followed by sharp increases or declines in price. An established triangle pattern is a

valuable signal prior to a relatively predictable price change.

http://i72.servimg.com/u/f72/11/82/15/01/some_m11.gif

Yesterday, we made more than 200 pips from our symmetrical triangle which was part of our

live practical trading.

1.4770-1.4576=0.0194

1.4651-0.0194=1.4457(target point)

Symmetrical triangles,which are lines connecting peaks and troughs tend to converge at the

apex which is at the centre of the pattern.When price breaks outside of the pattern, there

is a high probability that the price will trend in the direction of the breakout.Once price

hit our target for more than 200 pips, it now retraced upwards,. Our buy stop @ 14507 caught

the bullish correction for 75 pips..

http://i72.servimg.com/u/f72/11/82/15/01/some_m12.gif

Price then retraced downward again to our previous short target of 14457, hitting it twice..

http://i72.servimg.com/u/f72/11/82/15/01/some_m13.gif

Before we knew it, price knocked 3 times and slipped downwards where our sell stop was on

hand to take the move...''come to papa''..

http://i72.servimg.com/u/f72/11/82/15/01/some_m15.gif

So moneyadd, hope you now understand...actually, my clients dont really want to know the

process or method in which trading takes place...all they are concerned with is whether we

make money at the end of the month,recession or not..thats the primary objective..making

money.

Can any one here tell why do clients trading this market online face

 

problems. I have been trading online with AVAFX and facing problems like not receiving

 

proper mails from them on time, downloading problem, customer support is not responding etc.

 

I have also heard from other persons trading this market online facing the same problems.

 

After threatening the customer support people they are now responding on time.

 

But still i have not come to know why online clients face such problems.

sorry about that, jeff...try and look for a better and more honest broker...Even if you got

the best strategy in the world, the choice of brokers is pertinent for the realization of

your trading goals.

[11:53:40 30/12/08] Stalion : no need to be confused....we put a buy stop on gbpusd @

14550...1st target @ 14575..2nd target @ 14615..3rd target @ 14655

[11:53:44 30/12/08] Stalion : sl 50 pip away

ala tuan, tau ler last2 mesti ada nak jual ebook ngan online

 

tutor nanti ni.....tul tak masta forestgreen

 

 

p.s if u dint understang....google it, welcome to CG(suppose to be) 100% Malaysia

 

Boonga boonga,what? reminds me of Indiana Jones and Temple of Doom...hey king of diamonds,

thanks for your hospitality..really appreciate it..howz kuala lumpur? The Russians said I

should google their language, the Japanese, the Indians,the Italians,Germans,even the

Peruvians tried to do me in but no online translation yet..like a frigging UN linguistic

convention met..would be grateful if you could teach me a lil Malay, for the ones I know is

virtually nonexistent..lol..going down to Singapore next year for some traders' conference

but dont know whether the language barrier can get me past the airport...thanks once again,

king of diamonds

The present buy stop @ 14705, 1st target @ 14730, 2nd target @ 14745, sl @ 40 pips away, is

 

anticipated to yield 40 pips or so..more like chess.

Helloo there,folks,

Price made a BULLISH GAP on the start of the Asian session, and before we knew it, more than

40 pips was emancipated from our buy entry of 14705..

http://i72.servimg.com/u/f72/11/82/15/01/trible10.gif

Even the 60% BUy WINDOW was negated as price on the GBPUSD dropped more than 200 pips

afterwards from the TRIANGLE PATTERN shown above.

Well, what can I say?

Hi guys

 

I think its just too riskiy trading full stop at the moment, spreads are wide, trend is non

 

existent, and volume is extremely low.

 

I think its best staying out until at least a week into new year when everyones back from

 

holidaying and markets have settled down some what!

 

But thats just what I am thinking!

Well, fxlion, maybe a lil positive mental attitude thinking might be in order?

so for wednesday, we put a buy stop pn GBPUSD @ 1.4735...1st target @ 1.4765..sl @ 1.4715...

 

also a sell stop @ 1.4700..1st target @ 1.4671...2nd target @ 1.4665..50 pips sl

http://i72.servimg.com/u/f72/11/82/15/01/christ10.gif

Season's Greetings to everyone,

If you check out our chart above, you could see price moving dynamically from left to

right..we first followed it with our buy stop that yielded 30 pips, and the sell stop that

yielded 35 pips..

The present buy stop @ 14705, 1st target @ 14730, 2nd target @ 14745, sl @ 40 pips away, is

anticipated to yield 40 pips or so..more like chess.

For readers of this thread, I want to say a big thank you for everything...

To show my gratitude, I am giving out 2 e-Books titled

1 The Art Of Creativity

2 Fibonacci Trading - How To Master The Time and Price Advantage

Merry Christmas and a Prosperous New Year, my friends..and may the New Year 2009 bring hope,

joy,health,love,and success to all.

So for today, wednesday, we put a Sell stop on gbpusd @ 15575...1st target @ 15545...2nd

 

target @ 15505...3rd target @ 15430...50 pip sl.....remember to take half profits when +20

 

pips ahead, then shift sl to entry level..

In yesterdays market there were some clear indications that it will

 

remain down for few hours and give bounce back but not too much.

http://i72.servimg.com/u/f72/11/82/15/01/exhibi10.gif

Quite right,sam...If you noticed on the chart, you could see the 1-2-3 bottom below and the

head and shoulders pattern above...They are both reversal chart patterns,telling us price

has a high probability of reversing direction from its prevailing trend..The 50 pip stop

loss was at the left shoulder, and before we know it, 200 more pips, after 3rd target, was

liberated..

Friends this market says that always travel in a running train.

 

Means trade the movements in the market you will definitely make profits. But with patience

 

don't hurry.

Patience is a virtue,especially in the markets,right, jeff?

http://i72.servimg.com/u/f72/11/82/15/01/exhibi11.gif

Dear @AiRiCk;

 

What is cool?

 

am I missing something?

 

 

1)It's not an EA

2)It's not even a System.

3)It does not show or teach some strategies.

4)Long chat conversations does not mean anything for us.

5)He is reviewing his own business. lol!!

 

Free Advertisement! ~

I been with these skills, crystal spills, hot bills, in Brazils..about African Black

Dreams..makes it hard to figure me..some traders be tickle me..like Fidel Castro..undercover

Dannie Brasco..sound like MACDs, the prayer mantis..so get a grip on the whip..playerhaters

getaway or my pen would spray..scribble off till I empty..dont tempt me..only to say I thank

thee..its all about the benjies..

@ Wise?TX

1- Would you give control of your live account to an EA? Would you board a flight across the

Atlantic with just robots to navigate and NO human pilots?

http://i72.servimg.com/u/f72/11/82/15/01/exhibi12.gif

2- Google 'chart pattern recognition and price projection strategy' and see whether it is a

system or not, mon ami..THE CHART PATTERN RECOGNITION AND PRICE PROJECTION STRATEGY tells

us, to a considerable extent, where price is going and how far it might get there..

If it is not a system, how come you see these charts showing more profits than losses for

months now? Is it possible to make consistent profits WITHOUT, not just a strategy but a

SOUND STRATEGY? Or did I go and meet brokers and tell them ''hey, buddies, please fix some

green dotted entry lines and red dotted stop loss lines for the benefit of our bronco billy

cowboy"?

3- I think you need some glasses,Man...or maybe just remove the negativity and focus on this

thread with clarity of mind..1-2-3 bottoms,Head and Shoulder patterns, 60% BUY/SELL

WINDOWS,REACTION SWING, REVERSAL DATES,TRIANGLES, TREND LINES, MACD DIVERGENCES,ETC, are

shown and demonstrated here...Man, you need to stop popping too much Valium pills, wake up

and smell the roses.

4- Transcripts of live forex trading conversations are archived on forexgreenland, as a

source of practical lessons to students that are ready and willing to learn. Last time I

checked, I guess it was a free world. Meaning is relative, according to individual

perception and value, my friend.

5- Trading is a business and should be treated as such..Ever read the Parable Of the Talents

in the Bible? Please do.. Though this thread is about REVIEWS OF STRATEGIC TIPS,no one is

under any obligation to give live forex alerts as PREVIEWS. It is just to demonstrate the

effectiveness of the CHART PATTERN RECOGNITION AND PRICE PROJECTION STRATEGY.

Astonishingly, I bought John Crane's book some years ago and gained much from it..I didnt go

around thinking why he was promoting his business through his website or why should he be

offering his commodities services to traders..What I'm concerned with is''VALUE''..and the

results are clear to see..Dont be like that man in winter, next to his stove,telling it to

give him some heat...The stove said '''Wood''...The man insisted on getting heat first

before piling woods.Who's deceiving who? As you breathe in, you also breathe out..thats how

life is..

Warren Buffett, one of the smartest and most successful businessmen of our time, was

recently asked what he thought was the best investment anyone could make in these so called

difficult times.

His answer was fast and simple ...

"The most important investment you can make is in yourself."

That could very well be the best advice Mr. Buffett has ever offered. If ever there was a

time to take control of your future, it's now.

Like you said,maybe you are really missing something,tx..something spongy and mushy..If your

IQ gets below 50, SELL.. just kidding

hey wow hw much time does it took to writ??

whatever i read some how n was good keep going......

Hi sagar, thanks for your mail.. it actually takes around 2 hours to draw and write the

charts while trading is on..for me, the thrill and challenge of multitasking helps in my

trading environment which brings a fulfilling sense of being. Posting live trades in front

of a global audience, where the mainstream perception tends to be ''a trader is as good as

his last trade'', is all good..for true traders makes you feel and do good. We should all

strive to seek balance in all things we do.

http://i72.servimg.com/u/f72/11/82/15/01/exhibi14.gif

so for friday, we could see a mini 123 bottom formation on GBPUSD15 min chart..so a buy stop

@ 1.5090...1st target @ 1.5165..2nd target @ 15244..3rd target @ 15315..sl @ 1.5015

(Please remember to take half profits after you are +20 pips while shifting stop loss to

 

entry. And 15 to 25 pip trailing stop should be used after 2 nd have hit..)

 

i dont understand ur words????/////

Helloo fasi, lets illustrate ,shall we?

For example, we have a buy stop @ 1.5000, where stop loss was 50 pips away, @ 1.4950...so our buy stop was triggered and price gets to 1.5020 or more..THAT is when you adjust your stop loss level from 1.4950, up to the buy entry level of 1.5000..then taking half profits means closing half your position(s)..if you entered with 1 minilot, you close at 0.5....if 2 minilots, you close at 1 minilot...sequentially...failure to apply this simple risk management technique while trading, is the cause of so many unnecessary losses..

Hope you now understand..

Hi Stalion, You've always done nice jobs, and i've always missed your live comment and signal.

 

I am in Australia, not sure what normal time you would give comment or tell people how to trade.

 

I think you are fantastic and really want to follow what you have got. Every time when I got up here, you have already disconnected.

 

Please let me know.. i need your help..>_<.

Hi Jimmy...thanks for your mail....howz the famous Down Under?....The Land Of The Antipodes...hope you guys are treating the aboringes well over there..cool..well,am really humbled by your comments, mon ami...London Session is mostly where I'm at...3am EST...

[11:29:04 10/12/08] Stalion : hi fasi

[11:35:42 10/12/08] klho83 : Hi Stal

[11:49:03 10/12/08] fasi26 : stalion????

[11:49:08 10/12/08] Stalion : how was trading yesterday?

[11:51:15 10/12/08] fasi26 : i didnt trade

[11:52:11 10/12/08] Stalion : cool

[11:54:09 10/12/08] fasi26 : bcoz it's hlidays here so i m enjoying 2 days of eid

[11:54:56 10/12/08] Stalion : yesterday price got down to our 1st target on our sell stop, before going back up

[11:56:04 10/12/08] Stalion : but if your buy stop had triggered, you would have been stopped out....and a reentry today would get you to 1st target @ 1.4865 on our buy stop entry

[11:56:16 10/12/08] Stalion: Happy Sallah, fasi

[12:01:30 10/12/08] fasi26 : wht was the impact of obama's speech

[12:04:19 10/12/08] Stalion: didnt know he had a speech....what was it all about, fasi?

[12:05:16 10/12/08] fasi26 : it's about new economic plan of america

[12:05:24 10/12/08] Stalion : hi K

[12:05:36 10/12/08] fasi26 : and he still wana spend more money for the infrastructure of america

[12:09:38 10/12/08] Stalion : YEA...LIKE fdr DURING THE gREAT dEPRESSION OF THE 1930'S

[12:11:09 10/12/08] fasi26 : yes he said that more money can be spend as campared to 1950;s

[12:11:31 10/12/08] fasi26 : and economy will go down more before taking high

[12:11:55 10/12/08] Stalion : President Frank Delano Roosevelt did massive reconstruction to overcome the US Depression

[12:17:58 10/12/08] Stalion : by pumping more money into the system through effective Reconstruction, he emplys more workers...this is like the faceoff BETWEEN EMPLOYMENT AND INFLATION...FINE, TOO MUCH DOLLARS MIGHT BRING INFLATION, BUT LOW UNEMPLOYMENT RATES ENCOURAGES GOOD CONSUMER SENTIMENT, WHICH BRINGS IN HIGHER DEMAND AND PRODUCTIVITY , WHICH TRANSLATES TO

[12:19:34 10/12/08] Stalion : BEATING THE GLOBAL SLUMP...CREDIT, THOUGH LOOKING TO BE MORE REGULATED, WOULD BE MORE ABUNDANT FOR EXPANSION...

[12:46:51 10/12/08] fasi26 : hmmmmm ur right

[13:17:37 10/12/08] Stalion : hi dj

[13:19:44 10/12/08] Stalion : did you get our buy stop?

[13:23:45 10/12/08] djcarlos : yes.. thanks... but I was in the car... and now the 2 targets are hits

[13:24:25 10/12/08] djcarlos : in other trade ....

[13:26:22 10/12/08] Stalion: yep...correct...

[13:27:12 10/12/08] Stalion: hope you are going to be around when we have winning trades, dj....for that offsetts any losses we might have

[13:29:26 10/12/08] djcarlos : yes... I always have my laptop with wi-fi.... but now i dont got it with me

[21:54:53 14/12/08] Stalion : So for today Sunday the 14th, we put a sell stop on GBPUSD @ 1.4946...1st target @ 1.4923..2nd target @ 1.4905..3rd target @ 1.4884...

[22:01:53 14/12/08] Stalion : also as a hedge, we put a buy stop on GBPUSD @ 1.5005..1st target @ 1.5035...2nd target @ 1.5065...3rd target @ 1.5095..both with 50 pip stop loss away

http://i72.servimg.com/u/f72/11/82/15/01/gameof10.gif

1.5034(A)-1.4815(B)=0.0219

0.6*0.0219=0.01314

0.01314+1.4815=1.4946(60% SELL WINDOW OR SELL ENTRY)

1.4988© - 1.4815(B) = 0.01730

0.6*0.01730= 0.01038

1.4988-0.01038= 1.4884(3RD TARGET/60% BUY WINDOW)

GIVE THE PRICE SOME ROOM..LEAVE THE PRICE ALONE; LET THE PRICE ROAM AND TWILL FIND ITS WAY HOME..

Friends todays inventories provided by AVAFX are showing the market

 

is volital.

yea, jeff, market have been pretty much volatile since the last half of this year..Nice

observation, though..

Quote from increasenow:

 

TO: ForexGreenLand

 

Great thread!

 

 

Questions for you:

 

1-looks like you are consumed with the GBP/USD...why only this currency?...do you trade

 

others?

 

2-do you only trade micro lots or standard size lots ever?I seen you neveer trade even 1

 

lot...

 

3-you made $3,000K since you opened the account...do you have a job or other investments you

 

live off?

 

4-where do you live and what hours do you trade Forex?

 

Great trading to you!!

Helloo there, increasenow,

from the tone of your comment, you seem to be hiding some heavy sarcascm beneath velvet

gloves, or shall we say , ''cat's paw''? maybe its just a reflection of your inner mental

processes at work...well, I'm in a good mood so I'll humour you for now and give you some

answers..

1- consumed with GBPUSD? What do you think this, alcoholic consumption frenzy? Trading is a

wide field like medicine,law,or any other profession out there...it pays to specialize in

one or two currencies well and be profitable, than to be jack of all trades and master of

loss..ever heard of comparative advantage? Warren Buffet said something along the line of

diversification are for those that dont really know what they are doing...put your eggs in

few baskets as possible , and watch them like a hawk...so in order words, I trade all

currencies and I specialize on the cable, just like I said on my begining post here.

2 - I manage forex accounts ranging from tens of thousands minimum, to millions of

dollars..That sample detailed report you saw was based on how much return of investment(ROI)

gained monthly from a minimum of 10k. Due to my style of trading, risk and money management

is of top priority in the first objective of preservation of capital.

The second objective of making profits comes next.I want you to understand that in trading,

garbage in, garbage out...right thinking, right product..

Never risk more than 2% to 3% of your capital in any trade...For a 10k account, dont risk

more than 200 dollars..for a 100k account, dont risk more than 2000 dollars, for a $1m

account, dont risk more than 20k in a trade..

So in the context of this sample, why should a professional trader use 1 standard lot on a

10k account, if risk mgt suggest $200(2%) risk on a single trade for that equity ? You have

the potential of losing $2,000 on a trade, which is 20% of the 10k equity, instead of just

$200 or 2%..That 20% keeps you in the game for just 5 times, while the 2% keeps you in the

game for 50 times...Devrim, a forex trader lost 90% of his million dollar account because he

wasnt using stops...learn from the mistakes of others..maybe you should go back and read

this..

http://www.babypips.com/school/drawdown_an...m_drawdown.html

The higher your equity, the better capitalized you are...Dont be fooled by adverts telling

you to trade forex for $10 or $100 or claiming you can make gazillions out of a palty amount

...doesnt work that way...from your name,increasenow,dont be greedy,

3- 3k from a 10k account in 3 months amounting to an average of 10 % monthly, is not too bad

in my opinion, considering the last 3 months have been the most volatile and uncertainity

filled period in the markets, with the global economic crises,recession troubles and bad

news transmitted everywhere.. ..

Traditionally, months from October through December, have always been very hectic for

traders...most rarely trade during the period as banks, hedge funds square off positions to

the detriment of the undercapitalized and inexperienced traders.

For the 3 month to a year period, bonds have been below 2%, Treasuries Bills rates have been

slashed to pieces and stock index have been on negative for the last 9 months now..so why

make jest of a 30% return in 3 months, if you are not a court jester?

http://finance.yahoo.com/bonds/composite_bond_rates

http://www.bankrate.com/brm/ratewatch/treasury.asp

For the record, that 10k account is just a SAMPLE of the other currency based accounts that

is being managed, amongst other investments.

4- Where do I live? Though trading is a lonely business, No stalking , please...

Hi Stallion,thanks for the report,am considered taking up your managed account service,if

 

those profit trades are sustainable in the longterm.i understand the risks of trading so am

 

not looking for wild returns or whatnot, just something consistent i need.thanks once again

 

maestro

no probs, lancelot...

[09:09:41 08/12/08] Stalion : helloo there everyone

[09:24:35 08/12/08] klho83 : hi Stal

[09:51:36 08/12/08] fasi26 : hi alz

[10:10:02 08/12/08] Stalion : hi fasi

[10:11:18 08/12/08] Stalion : our sunday trade didnt work out as planned, so we put a buy

stop on gbpusd @ 1.5045..1st target @ 1.5105..2nd target @ 1.5165...3rd target @ 1.5225...50

pip sl

[10:15:25 08/12/08] klho83 : OK Thanks!

[10:24:08 08/12/08] fasi26 : hi allz

[10:29:01 08/12/08] fasi26 : shuld v go for EUR/USD sell stop

[10:36:48 08/12/08] fasi26 : helloooooooooooo

[10:42:08 08/12/08] fasi26 : Stalion?????????

[10:46:05 08/12/08] Stalion : hi

[10:47:34 08/12/08] fasi26 : hi sir how ru

[10:48:28 08/12/08] Stalion : am okay

[10:48:31 08/12/08] Stalion : and you?

[10:48:40 08/12/08] fasi26 : same here thnx

[10:49:22 08/12/08] Stalion : we also put a sell stop on gbpusd , as a hedge, @

1.4945....1st target @ 1.4900,2nd target@ 1.4855,3rd target @ 1.4815....50 pip sl away

[10:49:27 08/12/08] fasi26 : eur/usd ?

[10:51:40 08/12/08] fasi26 : hmmmm i entered

[10:51:53 08/12/08] fasi26 : but i m luking for eur.usd any tip

[10:53:05 08/12/08] Stalion : for eurodollar, a sell stop @ 1.2869...1st target @

1.2847...2nd target@ 1.2825....50 pip sl away

[10:53:13 08/12/08] Stalion : hi avak

[10:53:26 08/12/08] fasi26 : hmmm k

[10:54:58 08/12/08] fasi26 : i got 1.4900 ... 1st trgt @ 1.4850

[10:58:50 08/12/08] fasi26 : ?

[10:59:58 08/12/08] fasi26 : did u see eur.usd forum

[11:00:24 08/12/08] Stalion : nope...where?

[11:00:37 08/12/08] fasi26 : dailyfx forum

[11:01:25 08/12/08] Stalion : whats happening there?

[11:08:29 08/12/08] Stalion : hellloooo, fasi....?please wake up....2nd target hit

http://i72.servimg.com/u/f72/11/82/15/01/jiuce210.gif

[11:16:50 08/12/08] Stalion : not yet.....

[11:26:32 08/12/08] Stalion : remember to take half profits after +20 pips ahead...

[11:26:39 08/12/08] Stalion : then shift sl to entry

[11:37:52 08/12/08] Avak1988 : hello Stalion

[11:38:27 08/12/08] Avak1988 : I just try to understand what is going on and how do you work

here

sell stop on gbpusd @ 14745...1st target @ 14705..2nd target @ 14665...3rd target@

14625...also as a hedge, we put a buy stop @ 14825...1st target @ 14865...2nd target @

14900...50 pip sl on both..

Please remember to take half profits after you are +20 pips while shifting stop loss to

entry. And 15 to 25 pip trailing stop should be used after 2 nd have hit..

[

i dont get the idea you showing about thw system. first, where are

 

those numbers come from ? i looked at the charts that you attached those numbers (2.0168,

 

2.0050, 2.0089). sencond, is this same as the 3 ducks system ?

Me too,ddock...it has been quite a while since that chart was posted,I must say... those

numbers come from the chart, where we added/subtracted the range of price from its virtual

entry point..second, am not really familiar with the 3 ducks system..so cant say for now..

Wow nice trade guys!

yea, t2wfx, we try to get better and better by the day..

Helloo Stallion,after going through your posts am sorely tempted but still a little

 

doubt,you were telling the college kid about profits,drawdowns and streaks.whatabout

 

yours?how sure are we that you are profitable with your strategy,at least 10% profitable a

 

month.? any recent performance reports to back em up?nice work you doing on this

 

thread

Yes Lance, you can get a sample detailed performance report on my strategies as an attached

file below.Just click on it ,okay...This was on a starting balance of $10k as at October

this year, in which the total net profit is $3k plus..relative drawdown of 8.69% over a 3

month period..that should be approximately 10% per month on the average. Not too bad...action speak louder

than words.

For the short term, a la mahir,we could put a sell stop gbpusd @ 1.4618..1st target @

 

1.4595..2nd target

 

@ 1.4560..3rd target @ 1.4525..

 

For the medium term, we put a sell stop on GBPUSD @ 1.4465..1st target @ 1.4425..2nd target

 

@ 1.4385...3rd target @ 1.4305...5o pip sl away...Remember to take half profits when +20

 

pips away,while shifting sl to entry.

 

http://i72.servimg.com/u/f72/11/82/15/01/cool110.gif

To all the traders in the house, with style and grace...allow me to lace these lyrical

possies in your purses..which price moves, would move down to bearish...the back of the

keyboard is the place where you gonna me..forex questions asking...trades passing..profits

blasting..but I jus cant quit...because some of these brokers need some dose of ethics,

check this..

http://i72.servimg.com/u/f72/11/82/15/01/jiuce10.gif

you can put a sell stop on gbpusd @ 1.4680...1st target @ 1.4655..2nd target @ 1.4635...3rd

target @ 1.4540 ..sl 50 pips away...

http://i72.servimg.com/u/f72/11/82/15/01/jiuce110.gif

I need some advice from some seasoned forex traders...I am a college

 

student studying finance and I am fairly new to forex trading but i have frequently day

 

traded some stocks. I opened up a fxcm account 3 days ago funded with $5,000. Today was the

 

first day that I traded it for about 3 hours. At the end of the 3 hrs I made a profit of

 

$1,042.25. It doesn't seem like I'm executing my trades very well though, so I'm wondering

 

if this is just luck or something like that. Is significant profit a sign of good

 

trading?

Hi mfostel,

Its quite encouraging of you to admit you've not been executing your trades very

well..Though some might say its just 'luck to catch a drop', it all depends on you, at the

end of the day..

Significant profits is just a MEASURE of good trading....You still have to create structures

based on your trading plan , in order to know where, when and how you went right or wrong in

your trading activities..

These structures includes your trading strategy, risk management and trader psychology..like

how do you reconcile an 80% gross profit with a 50 % relative drawdown?

How exposed are your trades for that session , in relation to your total equity? How do you

know when you are on a losing streak and how does that affect your successive trading

activities? Those, and more questions you ask yourself, would surely help in making you the

seasoned trader that you are meant to be.

P.S- As a graduate of Finance from the University Of Lagos, I would say you are building a background in news trading..as in, economic analysis and forecasts would be right up your alley..if you are real jiggy with your major.

[08:13:41 01/12/08] agba : Hi Stal

[08:14:34 01/12/08] agba : Is the sell stop at 1.5300 still valid, it has been stopped out

once today?

[10:37:35 01/12/08] Stalion : helloo everyone

[10:37:57 01/12/08] Stalion : yes, agba....it is...if stopped out, you reenter..

[10:38:05 01/12/08] Maximus : Heu Stalion...

[10:39:41 01/12/08] Stalion : 1st and 2nd target already hit for 125 pips..going for 3rd

target

http://i72.servimg.com/u/f72/11/82/15/01/montho11.gif

[10:39:56 01/12/08] Stalion : helloo there, max..

[10:40:03 01/12/08] Stalion : howz ur trading going?

[10:40:39 01/12/08] Maximus : very good i am out at 1.5175, thx...

[10:41:36 01/12/08] agba : DId not reentered waited fr ur response

[10:43:49 01/12/08] Stalion : Here, we tend to nurture traders to become independent after

time..once you get the thick of it, you tend to trade better yourself...in this case, am

sorry you didnt reenter..

[10:43:58 01/12/08] agba : Can I enter now?

[10:44:41 01/12/08] Stalion : not sure...it depends on the risk to reward ratio

[10:45:18 01/12/08] Stalion : our 3rd target is 1.5090..

[10:46:08 01/12/08] Stalion : u can still enter now, with a 50 pip sl..agba...

[10:46:10 01/12/08] agba : I will wait till us session

[10:47:29 01/12/08] agba : ok thanks

[10:47:43 01/12/08] Stalion : though the reward would be approximately the same, at current

market price

[10:48:12 01/12/08] Stalion : but the risk would be double since you got stopped out earlier

[10:48:44 01/12/08] agba : I entered @1.5128

[10:50:21 01/12/08] Stalion : no probs...time will tell..

[10:52:04 01/12/08] Stalion: remember, put a 15 or 20 pip trailing stop on price when you

are +20 pips ahead

[10:52:21 01/12/08] agba : ok

[11:15:57 01/12/08] agba : Thks Stal. Got 38pips

[11:41:17 01/12/08] Stalion : lol!

http://i72.servimg.com/u/f72/11/82/15/01/montho12.gif

[11:42:24 01/12/08] Stalion : price on cable have gone way beyond our 3rd target of

1.5090...for more than 210 pips,$210 minilot,$2100 standard lot

[12:08:50 01/12/08] Stalion : even after subtracting the 50 pip stop loss earlier in the

morning, we are still ahead

[13:33:36 01/12/08] djcarlos : I missed that exelent trade .... Sad

[13:34:07 01/12/08] Stalion : why? it has been out in the open for more than 24 hrs

[13:34:23 01/12/08] djcarlos : I stal.... this falll is going to have retracement???

[18:30:17 01/12/08] djcarlos : Hi, im looking CNN and US it was declared recently in

recetion

[18:30:45 01/12/08] Stalion : recession?

[18:31:37 01/12/08] djcarlos : sorry... yes recession in US... CNN said that is officialy

[18:35:07 01/12/08] djcarlos : about 20 minutes was declarated ... but they sais that the

recesssion start in december 2007

[19:10:07 01/12/08] Stalion : from a sell entry of 1.5300 to a low of 1.4805

[19:10:15 01/12/08] Stalion : almost 500 pips

[19:13:12 01/12/08] djcarlos : yes.... and I missed it.... I want to die .... I looked the

chat at 5:00 am... and the fall start at 6:00 am...

[19:15:52 01/12/08] djcarlos : but now i hope a good retracement

Stocks fall sharply on consumer spending worries - Yahoo! News

now wht wuld be the rebound of GBP/USD..............( i m holding the

 

position sell 153.5 to going on.

If there's going to be a rebound or retracement, fasi, I think its better we put a buy stop

on cable @ 1.4900, 1st target @ 1.4935..2nd target @ 1.4985..3rd target @ 1.5135...with a

stop loss @ 1.4805...Please check your risk to reward ratio before taking any trades.

Hello Mystikal,

 

How are you doing?Please i will like to ask apart from the 123 top and bottom, is there any other type of chart pattern that can be formed.

Yes, onwuka...there are some good chart patterns around...just google head and shoulder patterns, W top and bottom, wedges,triangles,pennants, etc..You could find something useful that might assist you in your trading activities..If you checked those charts, you would hardly see any indicators...every trading decision is based from the charts and patterns..no mumbo jumbo indicators or lines all over the place,,just straight from the charts..

it seems too complicated/technical for me . really for beginner? for me, I just need easy/simple indicator or EA to decide buy or sell.

Lol,kitty...in reality..it is quite simple and easy in forecasting..Dont stop it if you think you gonna make a profit..

Many of the most simplest things in life are the most profound..like hydrogen,with the atomic number of 1.

We need 2 atoms of oxygen with an atom of hydrogen, to form 1 molecue of water(H20)..Very simple but many people are not AWARE..''For the Bible says;My people Perish Due To Lack Of Knowledge/Vision''..

Until you are AWARE that YOU are the INDICATOR..YOU are the Expert Advisor...YOU are the ROBOT...YOU are the HOLY GRAIL'',,you would always see yourself as a beginner in the markets..

Until you throw off the clutches of EA's, robots,and diverse indicators, and start taking trading decisions straight from the charts,you would always tend to see yourself handicapped from reaching your goals of making profits through trading..

YOU TAKE THE DECISION...YOU TAKE THE RESPONSIBILITIES..NOT A ROBOT..FOR YOU ARE THE R-O-B-O-T!

I went short @ 1.4944 yesterday at about 7am with limit set at 1.49 and stop loss at 1.50. Up to 11am the range fluctuated between 1.4960 to 1.4995 even after the BoE minutes. Did I miss something? After the CBI report obviously I was out the trade and seeing the trend of GBP extend to 1.51+. Why didn't this go my way?

Sorry,logoodung, you were right in the middle of the 3 low of the 1-2-3 pattern,which usually foretells a bullish bias..Problem was, you thought short, instead of long..Thats what you missed, mon ami..ohh, by the way, there was also a bullish hammer candlestick just where you went short, which formed as support to price..so where you would've gone right, as in the solution, was by putting a sell stop below the low of 1, of the 123 chart pattern,which if triggered, would confirm your bearish bias in pric e movement..

[20:33:40] Stalion : hi folks, its a cool evening here in the city of Lagos,

And we also put a sell stop on GBPUSD @ 1.4970...1st target @ 1.4945..2nd target @

 

1.4920..3rd target @ 1.4895..

 

http://i72.servimg.com/u/f72/11/82/15/01/gcool310.gif

 

We call it TRAPPING THE DRAGON TECHNIqueza

[20:45:50 19/11/08] Maximus : ok I got it, thx Stalion.....

[20:50:33 19/11/08] djcarlos : thanks Stal

[09:24:57 20/11/08] klho83 : I missed that:(

[10:31:43 20/11/08] klho83 : Hi Max.

[10:58:56 20/11/08] masif1 : guys stalion did NOT post the following alert

[10:59:05 20/11/08] masif1 : And we also put a sell stop on GBPUSD @ 1.4970...1st target @ 1.4945..2nd target @

[11:00:48 20/11/08] masif1 : 1.4920..3rd target @ 1.4895..

[11:00:55 20/11/08] masif1 : this was on the forum

[11:01:08 20/11/08] masif1 : http://www.trade2win.com/boards/forex-stra...y-pairs-24.html

[11:01:13 20/11/08] masif1 : posted last night

[11:01:23 20/11/08] masif1 : the buy call we would have got stopped out on

[11:01:37 20/11/08] masif1 : however the sell call we would have made profit Wink

[11:06:42 20/11/08] masif1 : or was that the original sell alert stalion sent yesterday morning?

[11:06:59 20/11/08] masif1 : i know i should not have cancelled it ;(

http://i72.servimg.com/u/f72/11/82/15/01/gcool410.gif

so for Friday,we put a buy stop on GBPUSD @ 1.4865...1st target @ 1.4900...2nd target @ 1.4950...3rd target @ 1.5050