[08:45:22 09/10/08] klho83 : hi stal cap
[09:18:32 09/10/08] fxjedi : stali made almost 100 pips yesterday gu callif not my
trailing stop got stopped outlol
[09:32:38 09/10/08] Stalion : bUY gbpusd @ 1.7328 1st target @ 1.7377...2nd target @ 1.7435
[09:42:05 09/10/08] argunes : Hi everyone
[09:42:07 09/10/08] Stalion : stop loss @ 1.7250
[09:42:27 09/10/08] Stalion : hi argunes
[09:46:05 09/10/08] fxjedi : helloo
[09:48:29 09/10/08] Stalion : for those dat didnt get the alert just scroll up you'll
see it..
[09:49:04 09/10/08] argunes : Stalion I see a resistance GBP/USD at 1.7340 what do you
think about it?
[09:49:43 09/10/08] fxjedi : UK Rate Cuts Come At A Cost -Seymour Pierce: The impact of the
synchronized interest rate cuts Wednesday should not be judged too quickly says Amit Thakar
at Seymour Pierce. "It will take time irrespective of the asset markets' instant reaction.
Whilst we do not anticipate another coordinated move we believe the UK US the European
monetary authorities will ease by another 50bps before the end of the year" he says. Adds
however there will be costs associated with such moves particularly in the UK. "The UK
public finances will move a perilous state to almost unsustainable state at
structurally 5% of GDP" says Thakar.
[09:53:20 09/10/08] Stalion : a lot argunes...
[09:53:56 09/10/08] Stalion : b4 I say anything....what does wilmart cap think about it?
[09:54:08 09/10/08] Stalion : jedi..
[09:57:37 09/10/08] fxjedi : ummmaybe resistance can be broken above that 17340 level?
[09:59:43 09/10/08] argunes : i see next resistance levels are 1.7400 1.7460 GBP/USD
[10:00:05 09/10/08] Stalion : yes jedi...there's a good possibility price might break dat
resistance..
[10:00:29 09/10/08] wilmart : Stal abt wat?
[10:00:43 09/10/08] argunes : it looks like 1.7430 is vulnerable GBP/USD
[10:01:18 09/10/08] Stalion : if you check your 15min chart argunes you could also notice
a 1-2-3 bottom in which the 2 level has already been breached.. MACD positive divergence
to price
[10:02:09 09/10/08] argunes : Thanks Stalion. I see.
[10:02:11 09/10/08] Stalion : also a trendline break to confirm bullish move....
[10:02:44 09/10/08] Stalion : if there are no unexepected or high impact news price would
follow technical analysis...
[10:04:12 09/10/08] fxjedi : yes stalits there all right
[10:06:57 09/10/08] fxjedi : but dont you think the stop at 17250 is kind of high?
[10:09:26 09/10/08] masif1 : just got picjed up the alert
[10:09:40 09/10/08] masif1 : placed the order its just triggered
[10:10:43 09/10/08] Stalion : yes it isjedi.... our entry point dats like a 78 pip
risk...
[10:10:47 09/10/08] Stalion : hi masif
[10:10:58 09/10/08] masif1 : hi stal
[10:11:40 09/10/08] Stalion : going for a total of 107 pip reward
[10:11:52 09/10/08] Stalion : up to our 2nd target
[10:13:39 09/10/08] Stalion : the reason was dat we get stopped out more when we stick to a
rigid 40 pip stop loss...but by taking cognizance of support resistance levels we can
use dat as our exit points or stop loss levels...though with much wider risk
[10:17:38 09/10/08] Stalion : did anyone see the 1-2-3 bottom?
[10:18:53 09/10/08] caprica1 : back. Just had to take a shower
[10:18:56 09/10/08] wilmart : yeah
[10:19:09 09/10/08] argunes : I see it.
[10:20:22 09/10/08] fxjedi : me toostalbut isnt therr a posibility gu might go down
instead of up?
[10:21:32 09/10/08] caprica1 : you know I saw the 123. I couldn't find them at first but
all I can see now are 123's lol
[10:24:05 09/10/08] masif1 : 123!!!!
[10:24:07 09/10/08] masif1 : lol
[10:24:26 09/10/08] Stalion : might go up or down jedi...nothing is 100% in this
business...we follow our trading plan
[10:24:46 09/10/08] fxjedi : abc's!!
[10:30:02 09/10/08] Stalion : we wud've gotten stopped out by dat spike down if we used a 40
pip sl...since price went to a low of 1.7289...
[10:30:14 09/10/08] albashir : peace be unto u all.....
[10:31:26 09/10/08] Stalion : but by putting our sl below low or support of the previous
grid/pychological number we avoided being stopped out...so guys wat wud you prefer?
[10:32:14 09/10/08] Stalion : a 40 pip sl getting stopped out more often but reaching ur
targets...or a wider sl based on support resistance with wider risk...if stopped out..
[10:32:21 09/10/08] Stalion : hi albashir..
[10:32:33 09/10/08] wilmart : Cool allits valid
[10:32:34 09/10/08] caprica1 : I think the wider stop based on the current market
conditions
[10:33:52 09/10/08] wilmart : Get prepared to make some pips
[10:35:24 09/10/08] fxjedi : but whatabout equitystalwhat if stop loss is higher than 5%
of tradewhat to do?
[10:35:30 09/10/08] Stalion : what do you think argunes?
[10:35:32 09/10/08] Stalion : To Be or Not To Be???
[10:37:34 09/10/08] argunes : It's to be I think. Market volatility is high nowadays. For
our best interest putting stop loss orders to support levels are a must.
[10:38:13 09/10/08] caprica1 : you could always adjust your lot sizes FX to compensate
[10:40:58 09/10/08] masif1 : wider stop stal
[10:41:10 09/10/08] masif1 : this is something i've always raved on about
[10:41:23 09/10/08] argunes : But as Stalion said if we don't want to be stopped too early
putting 10-20 pips below support levels are wiser move.
[10:42:02 09/10/08] masif1 : this is what i've done
[10:42:11 09/10/08] masif1 : the first target is 40pips profit
[10:42:23 09/10/08] Stalion : nice move masif...
[10:42:29 09/10/08] masif1 : so i've put an order for target as the second target
[10:42:42 09/10/08] masif1 : put a 40pips trailing s/l
[10:43:28 09/10/08] fxjedi : but we have not yet gone onto first target!
[10:43:40 09/10/08] masif1 : i know
[10:44:00 09/10/08] masif1 : my sl is at 17250
[10:50:17 09/10/08] Stalion : since EURUSD GBPUSD tends to move together most of the
time it would also be a nice idea to keep an eye out on euro dollar..its on a topping
formation now...looking to go down...which is also influencing cable..
[10:53:31 09/10/08] caprica1 : isn't that a hammer bar on the cable 15M chart?
[10:53:47 09/10/08] Stalion : dats one of the main reasons price is dilly dallying
around our entry @ 1.7328...trying to decide whether to follow its own technical bias(long)
or play tag with EURUSD(short)...To Be Or Not To Be....lol..
[10:59:57 09/10/08] Stalion : 7 more pips to our 1st target of 1.7377...7 lucky
number...lol..
[11:01:04 09/10/08] caprica1 : should I be taking half profits now at +20?
[11:01:57 09/10/08] argunes : Hourly cable RSI has passed 50 it's a good bullish sign
[11:02:04 09/10/08] Stalion : yes please do....market volatility doesnt care whether you
lock in profits or not...it just moves..
[11:02:17 09/10/08] caprica1 : kool
[11:02:46 09/10/08] caprica1 : keep stop where it is?
[11:04:27 09/10/08] Stalion : take half or one third profits when +20 pips ahead..the move
stop loss to entry..
[11:05:12 09/10/08] Stalion : we shouldnt allow greed of the reward(target) to hinder us
proper risk mgt...
[11:14:14 09/10/08] argunes : Guys I gotta go. Have a nice trading day.
[11:22:40 09/10/08] caprica1 : stopped out on the adjusted stop loss but closed half lot at
+20
[11:27:23 09/10/08] wilmart : Its more safe to exit now
[11:31:55 09/10/08] Stalion : 1st target hit @ 1.7377
[11:34:32 09/10/08] Stalion : where price made a high of 1.7378...then went back down...hope
you now see the reasoning behind locking your profits when you get the chance..
[11:35:34 09/10/08] Stalion : stby for reentry if you were stopped out at the prearranged
profit of +20 pips..
[11:39:36 09/10/08] fxjedi : i c
[11:41:13 09/10/08] caprica1 : kool
[11:42:49 09/10/08] caprica1 : at what price? The same as before?
[11:52:18 09/10/08] Stalion : yea....cap...at the original buy order..
[11:54:37 09/10/08] caprica1 : ok
[12:33:56 09/10/08] klho83 : Set 1st target back to my pc hour later. Found firrt target
hit. But SL at 1.7250 just hit
[12:39:38 09/10/08] Stalion : we could see a double 123 bottom whammy forming...the second
one should breach our 1st target at 1.7377 again for the double whammy to be confirmed..
[12:39:48 09/10/08] caprica1 : just missed re-entry by a few pips. So put a buy limit in
place
[12:40:00 09/10/08] klho83 : After hit the fisrt target. Price went down to exactly 17250
took my SL
[12:44:49 09/10/08] klho83 : 75% set at 1st target. 25% set at 2nd target. I didn't change
the SL
[12:46:39 09/10/08] caprica1 : my re-entry limit triggered back in an waiting for another
+20 to close half lot.
[12:50:54 09/10/08] caprica1 : +20 half lot closed again
[12:58:22 09/10/08] klho83 : congra! cap
[13:02:18 09/10/08] klho83 : going in again?
[13:03:08 09/10/08] caprica1 : ntopped out just yet
[13:03:41 09/10/08] caprica1 : now it has! lol
[13:05:26 09/10/08] klho83 : M in too!
[13:24:23 09/10/08] klho83 : target 17400
[13:44:49 09/10/08] klho83 : +20pips .all flat
[13:54:14 09/10/08] masif1 : nice nice chicken rice
[13:54:29 09/10/08] masif1 : taken 20 pips again
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