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  1. 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 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? 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. 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 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..
  2. 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. 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 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.. 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: 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. 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 @ @ 1.4715... also a sell stop @ 1.4700..1st target @ 1.4671...2nd target @ 1.4665..50 pips sl
  3. 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 @ 1.5715
  4. 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 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.
  5. 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 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.. 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.. Hi Natalie, to paraphrase annacoulli.. 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. 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... 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 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
  6. Hi Julie...thanks for your 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 for quite some time now, and we miss you! Could we not tempt you back? need to do that,mon back....just being occupied by lots of projects little or no time to post as much as before... 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 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. I know, I know, jehunter....better to be the hunter than to be the hunted,especially of send it as soon as possible,okay... 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.
  7. 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.. 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''? 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? 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. HAPPY NEW YEAR FOLKS and we give thanks to God for seeing us through a bumpy 2008..WELCOME 2009.
  8. Helloo moneyadd, thanks for reading all my posts...trying to make the time to read them 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, 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. 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.. Price then retraced downward again to our previous short target of 14457, hitting it twice.. 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''.. 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. 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
  9. 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 a frigging UN linguistic convention met..would be grateful if you could teach me a lil Malay, for the ones I know is virtually 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 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.. 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? Well, fxlion, maybe a lil positive mental attitude thinking might be in order?
  10. 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.
  11. 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.. Patience is a virtue,especially in the markets,right, jeff? 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 Fidel Castro..undercover Dannie Brasco..sound like MACDs, the prayer 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? 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 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. so for friday, we could see a mini 123 bottom formation on GBPUSD15 min a buy stop @ 1.5090...1st target @ 1.5165..2nd target @ 15244..3rd target @ @ 1.5015
  12. Helloo fasi, lets illustrate ,shall we? For example, we have a buy stop @ 1.5000, where stop loss was 50 pips away, @ 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 Jimmy...thanks for your mail....howz the famous Down Under?....The Land Of The Antipodes...hope you guys are treating the aboringes well over,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 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..
  13. yea, jeff, market have been pretty much volatile since the last half of this year..Nice observation, though.. 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 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 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.. 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 why make jest of a 30% return in 3 months, if you are not a court jester? 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... 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 [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..
  14. [ Me too, 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 cant say for now.. yea, t2wfx, we try to get better and better by the day.. 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. 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 questions asking...trades passing..profits blasting..but I jus cant quit...because some of these brokers need some dose of ethics, check this.. you can put a sell stop on gbpusd @ 1.4680...1st target @ 1.4655..2nd target @ 1.4635...3rd target @ 1.4540 50 pips away...
  15. 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 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 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, 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 [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 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 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! [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 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.
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