[08:42:58] Stalion : Helloo everyone
[08:44:35] paulsimon : thanks guys.. i finally got back my initial investment today..
[08:44:45] Stalion : lol...
[08:44:52] paulsimon : today on im gonna be a disciplined trader..
[09:01:06] caprica1 : is 160.72 still the re-entry point on euroyen then?
[09:03:06] Stalion : yes....dats for the one we entered yesterday morning after getting stopped out...we chill out
watch the market moves
[09:04:31] caprica1 : if i can get the 40 pips back yesterday stal i'll go get my h cut! lol
[09:05:04] caprica1 : any more than 40 pips I'll get a back wax!
[09:06:53] Stalion : wat r u saying caprica?seems u didnt breakeven with us yesterday?
[09:07:08] Stalion : where were you wen we hit 1st target?
[09:09:05] caprica1 : naa i took the first trade you mentioned got stopped out. I had to go to work then so missed
out on the next trade. Not in work today though.
[09:11:20] Stalion : ohhokay
[09:18:40] Stalion : is dere any news out on d euro?
[09:18:49] Stalion : or gbpusd?
[09:19:42] takbal : there were import prices this morning on EUR came out as expected
[09:20:58] takbal : no news on GBP or USD durable goods at 12:30 today
[09:21:32] Stalion : cool
[09:23:38] Stalion : for now we stay out of the market till we know wats really cooking behind d scenes....
[09:25:53] caprica1 : sounds good to me Stal
[09:26:55] takbal : OK
[09:27:10] bros1234 : masif1...watching the charts...hi stal
[09:28:21] Stalion : though i've got a buy bias on gbpusdwaiting for it to climb up to 1.8510....we wait for a good entry
[09:28:28] Stalion : helloo therebros1234
[09:37:12] bros1234 : gu(gbpusd) might range for a while
[09:54:14] Stalion : so for d gbpusd a good buy entry would be 1.8468...target point @ 1.8510...
[09:55:59] caprica1 : OK I'll keep an eye on that now Stal see what happens.
[09:56:32] paulsimon : ok..
[09:58:06] caprica1 : do you think its worth while placing a pending order for the entry or just watch it?
[09:59:00] paulsimon : watch it.. looks like its gonna hit it soon
[10:01:35] caprica1 : 40 pip stop as well on that one?
[10:03:02] Stalion : whats the reward ?as in the number of pips entry to target?
[10:03:59] paulsimon : 42
[10:04:43] caprica1 : yeah 42.
[10:04:54] Stalion : so a 40 pip stop loss is in order....we are on a 1;1 risk to reward ratio
[10:05:11] Stalion : if the buy stop gets triggered at 1.8468
[10:06:07] caprica1 : ok. Cheers. So we set our stop at the difference between entry 1st target?
[10:08:33] Stalion : yes... no....caprica...we set our stop loss relative to how many pip reward we want to make on the trade...does not necessarily mean it has to be the difference btw entry target...
[10:09:57] Stalion : its like we are risking 40 pip stop loss to get a 42 pip reward on this cable trade...dat makes it
approximately 1:1
[10:11:14] caprica1 : ok
[10:11:16] Stalion : if our target range is like maybe 80 pips on a 40 pip stop loss we are risking 40 pips to make 80
pips...dat is a 1:2 risk to reward ratio
[10:13:03] caprica1 : i underst now.
[10:13:12] Stalion : so dat even if you lose on the first try you can breakeven on reentry if sure ur on d right side....on the
80 pip 1:2 risk to reward ratio if u lose out on the first try d second reentry would likely bring u 40 pips to cover up on
d first loss
[10:14:11] Stalion : risk mgt is very important when trading d lmarkets...
[10:17:55] Stalion : so we always apply risk mgt BEFORE entering a trade....having the right strategy is not enough for
we only have so much money to commit on a trade
[10:18:05] bros1234 : am still buy biased today though on gu
[10:20:18] Stalion : with a 40 pip stop loss behind
[10:20:31] teressa : HI sTAL
[10:20:40] Stalion : helloo there teressa
[10:20:43] gilly : on what timeframe do you trade?
[10:21:22] Stalion : I look at ALL timeframes wen trading...
[10:21:27] bros1234 : range range range...somethng will soon pop out
[10:21:59] Stalion : but as we are on intraday trading its simpler to focus on the hourly 15 min 5 min timeframe
[11:26:41] masif1 : did we have a second target for cable?
[11:27:16] Stalion : remeber guys 1.8510 for 1st target...1.8522 for 2nd target
[11:29:09] caprica1 : the eurjpy i getting close to the re-entry point as well Stal.
[11:29:41] Stalion : lets wait n see mon ami....in this business anything can happen...d storm is not yet over..
[11:30:37] caprica1 : 160.72 re-entry target paulsimon
[11:34:37] caprica1 : whats the dirty little thing doing to us now? Thats the wrong way. Everyone think up at the same
time we can move it with thepower of our minds. lol
[11:35:55] Stalion : do I smell tension in ucap?
[11:36:26] caprica1 : you've got an amazing sense of smell all the way over there! lol
[11:36:43] bros1234 : patience we ar going up
[11:37:47] r2r : usd news in 2 hours might propel the price up
[11:38:04] r2r : core durable goods orders
[12:37:13] paulsimon : ok good she's coming home to me
[12:38:21] r2r : come to papa
[12:40:52] caprica1 : go cable go cable go go go go. Go cable go cable.
[14:05:23] Stalion : Economists expectations on the US news were lower than the previous...but wen the actual reoprts
came in it was higher dan expectations...dat fueled d dollar rally brought GBP down
[14:05:33] Stalion : stopped out ...
[14:05:58] Stalion : not yet masif....we are on stby...for now only euroyen trade is on...
[14:06:06] caprica1 : we still gonna keep the targets the same for the gbp trade if it happens stalion?
[14:07:23] Stalion : remember if gbpusd confirms its downtrend we should also be looking to profit dat too...no
need being mentally rigid...dats intraday trading for u
[14:07:53] caprica1 : of course.
[14:10:54] Stalion : yes.....we follow trends with calculated risks...not blindly...dats why we need patience to allow d trend unfold
[14:12:23] Stalion : the extreme results dat is either leaving profits on the table or having unnecesssary losses
[14:14:57] caprica1 : underst. I'm still learning Stal.
[15:04:07] Stalion : time to sell gbpusd
[15:05:04] paulsimon : ok ready..
[15:06:29] eugen3000 : finger crossed ;-)
[15:06:51] paulsimon : did u mean sell at market or shd we wait for ur signal
[15:07:00] caprica1 : sell?
[15:07:44] Stalion : yes....we put a sell stop @1.8395 target point @ 1.8351
[15:14:40] caprica1 : rite.
[15:14:44] tundope : g/u shld fall to as low as 1.8328
[15:14:49] Stalion : if price breaks our sell stop on its downward move dat means d bearish momentum is confirmed
[15:23:03] paulsimon : sell triggered
[15:24:25] Stalion : cable sell stop triggered
[15:27:45] caprica1 : damn it my compter froze. Didn't get in until 1.8392.
[15:29:00] Stalion : how comecap?
[15:29:36] Stalion : thought u wud've left a sell stop pending order in place
[15:31:25] r2r : what effect would crude oil inventories have on usd?
[15:32:10] caprica1 : when I place pending orders I must be doing it wrong because it doesn't trigger the order it just
closes the pending order.
[15:33:03] Stalion : Change in the number of barrels of crude oil held in inventory by commercial firms during the past
week;
[15:33:09] Stalion : No clear effect there are both inflationary growth implications;
[15:36:48] r2r : -0.1% actual
[15:36:48] Stalion : now d fireworks start again
[15:48:31] Stalion : looks like as euroyen is going up gbpusd is following
[15:48:46] paulsimon : shall we get out
[15:51:45] Stalion : not yet...
[15:51:47] Stalion : brb
[15:51:58] r2r : if it retraces beyond 18421 my reason to be short is invalidated
[15:51:58] caprica1 : do the longer charts not still show a short trend for GBPUSD Stal?
[16:01:25] tundope : ride on g/u
[16:01:40] Stalion : we need to have d discipline patience to stick to our trading plan...
[16:03:03] r2r : come on down!!
[16:04:59] tundope : wuts ur 2nd target on d trade stal?
[16:05:41] Stalion : easy r2r......
[16:06:07] Stalion : no need to scream at d keyboard...
[16:07:37] r2r : lol
[16:08:53] Stalion : i believe d 1st target was 1.8351
[16:09:42] tundope : yep
[16:09:49] tundope : av u got a 2nd target
[16:09:57] caprica1 : is there a 2nd target?
[16:10:08] masif1 : nearly there
[16:10:09] tundope : 328 shld be ideal
[16:11:20] Stalion : 2nd target is 1.8338 on the cable
[16:13:11] tundope : though i still expect it to go lower
[16:14:05] eugen3000 : would you suggest to move sl 20 pips lower to 1.8415 Stal?
[16:16:28] takbal : target hit
[16:16:33] masif1 : first target hit!
[16:16:53] Stalion : how many pips are we at noweugen?
[16:17:13] eugen3000 : 44
[16:17:21] r2r : yum yum
[16:24:19] caprica1 : still waiting for ej trade to break out of its little level it's in hit 2nd target.
[16:25:14] Stalion : 1st target hit....2nd target hit on the gbpusd...
[16:28:24] masif1 : yipee!
[16:28:25] Stalion : any doubts nowmasif?
[16:28:37] masif1 : made some money today
[16:28:40] caprica1 : cool just hit 2nd target
[16:29:10] eugen3000 : thank you Stalion made back up my losses today morning thank you again!
[16:29:21] masif1 : 1.8324
[16:29:22] eugen3000 : + some extra cash on the 2nd target hihi
[16:30:48] caprica1 : after this mornings loss I'm 15 pips up on the day.
[16:50:25] caprica1 : on a plus note my eej trade closed out +50 pips so thats +65 pips for the day. Muchas Gracias
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