Review Of Strategic Tips on Forex Signals In Forex Forum

[forexgreenland]

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

[forexgreenland]

Originally Posted by faizfakhirin

?????????????????????????????(penat nk baca)

Me too,faiz...I dont really understand...do you mean penance?

Originally Posted by retiredebtfree01

Thank you for sharing useful information.We want you to come

up with useful information so that will be useful to everyone.

No probs, mon ami....we all try to do our best in all things, especially in trading..

Originally Posted by paulvsg

Thanks stallon

No probs,paul..

Originally Posted by Developer

thnx for info brother are you in stock market ?

Thanks for your mail,brother...I specialize in the forex markets..

Originally Posted by artlowell@upwadaccess.com

The strategy that I have hoped to use is to have

four of five holdings going at all times, each with the goal of achieving a 10% gain within

a 5-10 day period. The strategy has been an utter failure, and I think the reason is this.

Every long I have attempted has lost money. Every Ultrashort I have tried has been

successful (I'm not allowed to short-sell). I believe that it is folly for somebody at my

skill level to attempt longs in an overall bear market. I no longer even consider a long

trade, especially with the prospect of an impending market crash.

There are few Ultrashorts to pick from and I am sort of without a good strategy for this

particular time.

Hi art, from your comments, I take it you are talking about the stock markets (not being

allowed to short-sell)..Is the uptick rule still in force at the equity markets?
But mind you, Warren Buffet,the No 1 stock investor is said to be buying up stocks recently

at rock bottom prices...Maybe its part of the contrarian strategy he's utilizing...Start

buying when prices are low and fear pervading the markets, while selling when prices are

high and greed driving the markets..thats just my 2 cents though..




Helloo fellow traders,
The 60% buy window on the GBPUSD made an inversion to the Way of the Dragon..sorry I

ommitted in writing out the buy order entry which is shown on the charts..As at Monday

midnite, price opened the session with a bullish gap and kicked in the buy order entry @

1.5760...Before we knew it,approximately 120 pips,$120 minilot,$1200 standard lot was made

at the high of 1.5885..The blue broken line shows the buy stop entry...




After the pips were made, our stop loss was then adjusted to the buy entry level, where stop

loss = 1.5760 = buy entry level...

This is what we see on the next chart below as the blue broken line now converted to a red

stop loss line..Very good risk management principle..



Another 120 pips was also made based on the bullish gap of the inverted dragon ...





Lets just say ...today was quite profitable...




[07:03:13 10/11/08] Stalion : Helloo everyone

[07:04:25 10/11/08] @ Stalion : we put a sell stop on gbpusd @ 1.5830...1st target @

1.5788..2nd target @ 1.5735..3rd target @ 1.5710...40 pips stop loss away

[07:34:14 10/11/08] djcarlos : 3 target hit.... Razz

[07:40:30 10/11/08] djcarlos : thanks for the sms, I ll Sleep again ...here is 03:39.....

but with 50 pips in the bag..... thanks

[08:00:00 10/11/08] Stalion : hi dj

[09:59:45 10/11/08] klho83 : Hi Max did u take the trade?

[10:00:27 10/11/08] Maximus : which one...

[10:01:11 10/11/08] klho83 : GU gbpusd @ 1.5830...1st target @ 1.5788..2nd target @

1.5735..3rd target @ 1.5710...40 pips stop loss away

[10:01:58 10/11/08] Maximus : no dit not take it...

[10:39:11 10/11/08] Maximus : not bad miss the first trade...

[11:05:58 10/11/08] romandaw : u trading anything?

[11:07:03 10/11/08] djcarlos : amazing fall on GU

[11:42:36 10/11/08] romandaw : hi there, you watching euro dollar?

[11:48:28 10/11/08] djcarlos : it having a strong uptrend.... but I prefer wait

[11:52:36 10/11/08] djcarlos : because I was read that GU it will have a pivot on 1.5800

[forexgreenland]

Originally Posted by Dreams

Thnks man for sharing to all these great info. I am very interested to get into forex.

Hi Dreams, its possible to actualize ur forex dreams by the right dedication, proper

training, patience,hard work and positive mental attitude..

Originally Posted by Justin

this is very cool! I'm learning to much . . . alright!

cool,Justin....me too...

Helloo folks,
Today's price action on the gbpusd was really something to write home about..The

unemployment rate report that was released from the UK was unfavourable to the GBP.The

PREVIOUS figures was at 5.7%, while the economists'expectation was 5.8% which was equal to

the ACTUAL release..The higher the unemployment rate,the lower the value of pounds sterling

due to selling on the negative news from UK.
Although it's generally viewed as a lagging indicator, the number of unemployed people is an

important signal of overall economic health because consumer spending is highly correlated

with labor conditions;
More than 375 pips were made this wednesday from GBPUSD drop...$375 minilot..$3750 standard lot..

[22:08:01 11/11/08] Maximus : Hi Stalion...

[22:08:29 11/11/08] Maximus : any order that are still valid...

[22:11:43 11/11/08] Stalion : sell stop on gu at 15400...1st target at 15360...2nd target at

15305...3rd target at 15285...40 pip sl

[22:11:56 11/11/08] djcarlos : 1st target of sell stop??

[22:16:15 11/11/08] Stalion : no probs...

[22:16:54 11/11/08] Stalion : max, you can enter a sell stop at 15370

[22:17:05 11/11/08] Maximus : sp now the sl is that the entry if you get the first target,

am I right or not...

[22:17:21 11/11/08] Maximus : ok Stalion...

[22:18:02 11/11/08] Maximus : same target....

[22:18:28 11/11/08] Stalion : yes

[00:48:59 12/11/08] djcarlos : I read that 1.5270 is the pivot to GU

[09:07:27 12/11/08] Maximus : Hi any trades...

[09:15:57 12/11/08] Stalion : Helloo everyone

[09:21:47 12/11/08] Stalion : not yet, max....we wait for a while....as you can see, the

market is moving back and forth for now...wouldnt do to jump in where there's no sign of a

breakout yet..

[09:22:01 12/11/08] Maximus : yes no prob...

[09:24:00 12/11/08] Stalion : one of the hardest things in trading is knowing when NOT to

trade...easier said than done..

[09:25:45 12/11/08] Maximus : yes it is so true...

[09:41:09 12/11/08] Stalion : market's slow

[09:42:10 12/11/08] Maximus : in my hiumble opinion I think that the market will break down

again with the GBPUSD...

[10:07:27 12/11/08] Stalion : so, entering at 15400 or 15370 is okay

[10:08:09 12/11/08] Stalion : remember to take half profits when +20 pips away

[10:09:20 12/11/08] djcarlos : i dont made the entry

[10:11:06 12/11/08] djcarlos : can i enter now... at 1.5360???

[10:14:35 12/11/08] Stalion : Hi dj

[10:15:01 12/11/08] Stalion : welcome to the party...

[10:15:31 12/11/08] djcarlos : hi, i entered at 1.5350..... i come late

[10:15:45 12/11/08] Stalion : though a bit late,a sell stop at 1.5345 would be more

prudent...

[10:17:05 12/11/08] Stalion : going for our 2nd target of 15305



[10:17:29 12/11/08] Maximus : I took 20 pips and i will reenter....will see...

[10:17:39 12/11/08] djcarlos : ok, its down trend??

[10:20:10 12/11/08] Stalion : we cant tell for now...though looking at the hourly, 4hr,daily

and weekly charts shows that gbpusd have been on a prevailing downtrend..

[10:21:15 12/11/08] Stalion : price might still very well retrace back up....only time will

tell..our job is to position ourselves to take advantage of price movements when we can

[10:22:56 12/11/08] romandaw : morning

[10:23:30 12/11/08] romandaw : nb news about to come out

[10:24:24 12/11/08] Maximus : yes Stalion the gbpusd will retrace...

[10:37:50 12/11/08] romandaw : i was trading the same move without even knowing it.

[10:37:58 12/11/08] romandaw : the gu short

[10:38:49 12/11/08] Stalion : helloo there roman

[12:09:47 12/11/08] Maximus : Hi Stalion...

[12:10:22 12/11/08] Maximus : thx for the pips....

[12:11:54 12/11/08] Stalion : my ohh myy..!price is moving ALL D WAY DOWN!100 plus pips

ahead of 2nd target

[12:13:06 12/11/08] Stalion :hope ur on a trailing stop, max?

[12:16:06 12/11/08] Maximus : Already out of the trade took 50 pips and get out...

[12:16:43 12/11/08] Stalion : lol!

[12:16:57 12/11/08] Stalion : wise move....

[12:17:50 12/11/08] Maximus : Thx Stalion for the call...

[12:22:17 12/11/08] Stalion : no probs.....the uptrend wasnt sustainable eventually

[16:22:47 12/11/08] Stalion : so for today, wednesday, we put a sell stop gu @ 1.5164....1st

target @ 1.5124...2nd target at 1.5095 pip sl away..

[16:37:06 12/11/08] enolase : hi everyone

[16:37:24 12/11/08] enolase : i can't believe i forgot that today was the BoE inflation

report

[16:37:47 12/11/08] enolase : a news item that has delivered in xcess of 300pips downward

movement on the GU pair in the last four months

[16:38:08 12/11/08] enolase : anyway, i think the dive will still continue

[17:38:29 12/11/08] Stalion : cool...

[forexgreenland]

Originally Posted by artlowell@upwadaccess.com

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

Originally Posted by barbs

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?

Originally Posted by Forexgreenland

[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...

Originally Posted by y_2008

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.

Originally Posted by markdaniel213

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..



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..

[forexgreenland]

Originally Posted by mystikal

[05:17:33 14/11/08] Stalion : Its 5a.m here in Nigeria and am in the

dark,with just the glow of the computer screens casting an ethereal and pychedelic sheen to

the surroundings..just the candlesticks telling their midnight stories..so we put a sell

stop on GBPUSD @ 1.4860...1st target @ 1.4845..2nd target @ 1.4825...3rd target @ 1.4790

[05:18:06 14/11/08] Stalion : sl @ 1.4010

Happy weekend,folks,

Someone asked me the other day what Black Friday was..And another, to her, felt her trade

that day was Black Friday becvause she had some losing trades.. Well I did some little

research on it from INVESTOPEDIA and here are some meanings of that term

1. A day of stock market catastrophe. Originally, September 24,

1869, was deemed Black Friday. The crash was sparked by gold speculators, including Jay

Gould and James Fist, who attempted to corner the gold market. The attempt failed and the

gold market collapsed, causing the stock market to plummet.

2. The day after Thanksgiving in the United States. Retailers generally see an upward spike

in sales and consider this to be the start of the holiday shopping season. It's common for

retailers to offer special promotions and to open early to draw in customers.

3. The term "black" has been used to describe other disastrous days in financial markets.

For example, on Black Tuesday, October 29, 1929, the market fell precipitously, signaling

the start of the Great Depression. The largest one-day drop in stock market history occurred

on Black Monday, October 19, 1987, when the Dow Jones Industrial Average plummeted more than

22%.

To God be the glory, our call was hit around 5 times,back to back, on yesterday's White

Friday. 70 pips,$70 minilot,$700 standard lot was made from that call..

We could actually see there was a mini head and shoulder pattern

[05:18:06 14/11/08] Stalion : sl @ 1.4010


[05:21:05 14/11/08] pipsRus : hello

[05:21:30 14/11/08] djcarlos : hi stal

[05:22:56 14/11/08] djcarlos : 1st target hit Very Happy



[05:24:24 14/11/08] Stalion : hi pipRus

[05:24:37 14/11/08] Stalion : 2nd target hit

[05:27:54 14/11/08] Stalion : I take it you've already closed at least half of ur order, dj?

We could see a mini head and shoulderrs pasttern on the 15 minute chart, which foretold a

bearish movement..After making our 70 pips, we shifted our stop loss to the entry point of

1.4810...That was why the broken shaded blue line was now red in the second chart...



[05:29:02 14/11/08] djcarlos : im out it was an exelent trade arround 40 pips in my bag

[05:30:22 14/11/08] djcarlos : thanks to call me... it was exelent

[05:54:50 14/11/08] djcarlos : Stal Ill expecting for other alerts.... thanks, call me or

sms me....

[05:58:18 14/11/08] Stalion : Hey, dj, easy on the greed, okay...

[05:58:33 14/11/08] Stalion : are you not guys not okay with 70 pips?

[06:02:00 14/11/08] djcarlos : yes stal i ll be carefully... im taking profits to open a

managed account

[06:13:56 14/11/08] Stalion : hmmmm...

[06:51:24 14/11/08] Stalion : if you reentered again on our original sell entry, you

would've been smiling by now...

[10:12:44 14/11/08] djcarlos : hi stal....

[10:20:11 14/11/08] djcarlos : i was re-enter and i won 2o pips and then go out because de

waves is going up

[10:20:23 14/11/08] djcarlos : Very Happy


The stop loss on the right shoulder ensured that we are not stopped out in the present

downtrend..if price breaches that high, we should be seeing a new retracement....



All in all, it was a jolly Good White Friday..

So for today,Sunday the 16th of November,we await the opening bell of the Asian Session to

commence trading..

Originally Posted by palmguy

Sell stop on GBPUSD @ 1.8321...

Hi palmguy, thanks for your contribution ..though presently, price on the GBPUSD is at

1.4737...it would need to go up about 400 pips before your sell stop is triggered..

So for today, we might likely see a BULLISH GAP to the upside in less than 7 hours from now.
We put a buy stop on our 60% BUY WINDOW @ 1.4765...1st target @ 1.4805..2nd target @

1.4840...3rd target @ 1.4884..sl @ 1.4700

[forexgreenland]

Quote from Smurfie:

Hey Forexgreenland

All trends from the monthly to the 5m timeframe are down. Why do you see an up-gap coming?

In other words, on what do you base your decision?

Cheers,

Smurf

Hi Smurf, the up gap is not really the issue here..Price pleased us with some lyrical

teasers.
We jus chilling.. when we popped the cable glass ceiling..like an epiphany..me and

traderji..
I based my decision due to the ''market tells''..shown on those charts..mon ami..Like I said

earlier, price was at its BUY WINDOW...MACD showing bullish divergence,123 pattern,etc..As

you go along, you'll see why I based my decision on a long call, instead of a short..

Originally Posted by jeff15

In the name of the lord most merciful,
Nice thread forexgreenland. Week begins with the pound 13 percent drop against the dollar

and 8 percentagainst the euro . British banks are shrinking foreign borrowings .A weaker

currency is being recommended.

Maybe, jeff15...maybe..

Originally Posted by betard 75367

Bearish gap, filled and bounced off your entry point (resistance area).

Looked like a good place to short rather than long but i was sleeping. If there had been a

bullish gap then that looked like a good long trade though (bounce off support). Look

forward to hearing more.

Yes, betard, I like that word ..''bounced off entry point''..like bouncy balls..At that

particular time, it looked good to short..and we got stopped out twice..

In retrospect, that might not really look like a good place to short, except for the

SCALPERS..Like Ninjas,they move in stealth, with each breath..never make their presence

felt..Price on the GBPUSD opened this Monday morning @ 1.4671..made a low of 1.4656..just 15

pips..removing 5 to 6 pip spread reduces it further..Though there was not a bullish gap in

the early hours of this morning, but a bearish gap on the open, it was just the precursor of

good times in the bullish sides..

Originally Posted by Anonymous

Wow nice call today! I must be honest after been stop out twice the

third time I was not very condident with the trade and took+ 20 pips, if I had wait I should

grabe +200pips.... thx Stalion

It was like 382 pips,mon ami...close to $400 minilot..$4000 standard lot on monday..But we

got stopped out twice at 65 pips each...making a total loss of 130 pips..Subtract that from

382 pips, we get net profit of 252 pips(excluding pip spread /or charges.)..But remember, we

lost twice before we can arrive at our net profit..Such is life...If Thomas Edison can fail

a thousand times before dicovering the icandescent lamp, why are we traders soo skeptical to

losses.. Every single trade does not have to be a masterpiece..

Originally Posted by delvia_saputri

forexgreenland, I will be here with you to check the

daily analysis and strategic tips of forex.. i hope you post such this info continuously ...

I will learn more and more..
Thanks forexgreenland

No probs, delv..We all learn and earn more and more...




[QUOTE=technamental;000002]So.. where are these other guys you are talking to?

Just google ''forexgreenland''

[forexgreenland]

Originally Posted by jeffsmith

Looking at GBP/USD intraday: key ST resistance at 1.5.
Pivot: 1.5
Preferred: Short positions below 1.5 with targets @ 1.4815 & 1.467 in extension.
Alternative scenario: Above 1.5 look for further upside with 1.51 & 1.513 as targets.
Comment: the RSI has banged against a major resistance around 70% and is reversing down.
It is being said the pound's decline will assist GB's economy so as long as it doesn't turn
into a ``run'' on the currency.Investors are selling the pound on concern about the size of
GB's recession.

Nice one, jeffsmith, keep it coming..

Originally Posted by stalla

Nice analysis !!!
I think the pound keeps getting pounded for further losses after the negative view trotted
out by King and company midweek and by the backdrop of the country's current account deficit
and huge fiscal challenges. These are the same types of problems faced by the typical
emerging market country in a global crisis and some are even starting to talk up the idea of
a currency crisis for the UK. The negative momentum that GBP has worked up at this point is
getting worrisome and may demand an official response very soon if GBPUSD moves to 1.4000
and EURGBP to 0.9000. We've been taken aback at the vehemence of the moves - the GBP crosses
are dangerous territory.
Regards

Yes,stalla, you might be quite right on that one, you know..especially with the GBP crosses
like GBPCHF and GBPJPY, aka the beast..so prudent money management during trading is very
important..
[11:11:55 19/11/08] Stalion: hi everyone
[11:12:17 19/11/08] Maximus : Hey Stalion good to hear from you..
[11:14:08 19/11/08] djcarlos : Hi
[11:16:02 19/11/08] Stalion : cool...
[11:21:42 19/11/08] Stalion : also a buy stop on gu at 1.5005..1st target at 1.5025..2nd
target at 1.5045...40 pip sl away
[11:25:43 19/11/08] djcarlos : so, the buy entry was hit???
[11:26:33 19/11/08] Stalion : yes, dj...
[11:26:46 19/11/08] Stalion : we are on the ride
[11:44:07 19/11/08] klho83 : All targets hit
[11:45:24 19/11/08] djcarlos : yes
[11:50:35 19/11/08] masif1 : wow - quick 40pips!

[11:50:35 19/11/08] Maximus : do we live the sell stop there?
[11:50:47 19/11/08] masif1 : and still going up!
[11:53:16 19/11/08] Maximus : guys do myou keep your sell entry activated or not?
[11:56:07 19/11/08] djcarlos : I saw in dailyfx.com that GU will going to make pivot in
1.5050
[11:56:34 19/11/08] Stalion : no...delete the sell stop entry for now, since market dynamics
have changed
[11:56:46 19/11/08] djcarlos : ok
[11:57:00 19/11/08] Maximus : thx...
[11:57:03 19/11/08] Stalion : hope you got ur trailing stop on
[11:58:00 19/11/08] Stalion : what kind of pivot,dj? what do you mean about pivot at 1.5050
[11:58:03 19/11/08] Maximus : exit 1.5045 because only trading 0.10 lots..

[11:58:35 19/11/08] djcarlos : I can send to you the chart by mail
[11:59:07 19/11/08] klho83 : Is the sell stop still valid?
[11:59:48 19/11/08] masif1 : i have left the sell in place
[11:59:54 19/11/08] Stalion : it doesnt matter, max..you could close half of the 0.1 lot
...as in, 0.05..the allow d other half to ride with a trailing stop..

[20:33:40] Stalion : hi folks, its a cool evening here in the city of Lagos, so we put a buy
stop on GBPUSD @ 1.5045..1st target at 1.5070...2nd taRGET AT 1.5095..3rd target at
1.5120...50 pip sl away

And we also put a sell stop on GBPUSD @ 1.4970...1st target @ 1.4945..2nd target @
1.4920..3rd target @ 1.4895..


We call it TRAPPING THE DRAGON TECHNIqueza

[forexgreenland]

Originally Posted by onwukarisa

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..

Originally Posted by KITT862

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!

Originally Posted by logoodung

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..

Originally Posted by mystikal

[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..



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/fore...-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 ;(





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

[forexgreenland]

Originally Posted by onwukarisa

hello stallion,

please i have some questions for you:

1) Please how do you know which time frame to do your analysis. i just noticed that at ties,
you do your analysis on 5 minutes chart, 15 minutes chart or 4 hours chart. Please what

factors
do you actually put into considerations when choosing this time frame?

2)i have also noticed that the way you choose your pattern formations vary(whether 1-2-3 top

or
bottom). in some cases,you space out the distance b/w the points 1,2,and 3. And in some

cases,
the distance b/w the points are very close? Please why is this so?

3) You sometime made mention of a hammer to me. Please if i see a bearish or bullish hammer,
what does that mean or what do i expect to see?

4) "Since a doji session represents a market at a juncture of indecision, it can often be

an early
warning that a preceeding rally(rise) could be losing steam.."
My question here is this: can a doji also tell you that a preceding fall or drop is also
losing steam?

Trust onwuka to ask some of those deep questions...

We use what traders popularly call the TOP DOWN APPROACH..starting from the higher

timeframes(monthly, weekly, daily and four hourly), to the lower timeframes(hourly,

15min,and 5 minutes..)..As we are mainly on intraday trading,we use lower timeframes to

pinpoint entries and exits...higher timeframes are mainly used by position and swing

traders..also good for knowing the overall trend..

2..The spacing of the 1-2-3 pattern is quite irrelevant due to the fact that market dynamics

change as time progresses..trading is a function of time and space..HOW long can price

travel in a session(s)..What you are looking for is the OVERALL pattern, not the difference

in sums between the parts of the whole..

3..A bullish hammer is oulined like a hammer...where the shadow or tail is twice the length

of the real body of the candlestick..whether dark or white..it means price is pausing in

order to reverse or continue its walk..
And yes, a doji can also foretell a preceeding fall losing steam..

Originally Posted by Reealjrd' pid='6695' dateline='1227339374

Market has recovered some shat. But we cannot say it a recovery because some market news say

that the market might once again show some dip. So be cautious when the market goes up.

Yes, we surely will,Reeal...

Originally Posted by arranp

Hello,

How long to stay short of sterling? how long until sterling recovers?

I have a USD fund with a STG equivalent, at some point I should switch from USD into STG, I

am wondering if now is to soon.

Thanks in advance for advice.

Regards
Arran.

'The Reaction Swing is the centre of the cycle, where you can look back and then based on

this information, determine where the cycle will go in the future.Since the Reaction Swing

is where the Action ends and the Reaction begins, it marks the centre of a repititive cycle

in which the past can project the future..
In the monthly chart below, the price movement between B and C is the Reaction Swing.
A Reaction Swing begins and ends with the lowest and highest closing prices..All you need to

know are the dates of the highest closing price and the lowest closing price of the Reaction

Swing in order to move on to the next step- PROJECTING FUTURE TURNING POINTS IN THE MARKETS

CALLED REVERSAL DATES, WHERE PRICE AND TIME CONVERGE.



Subtract the low of 1.7047(C), from the high of 1.9554(B) to get a difference of 0.2507
Divide 0.2507 by 2 (half) to get a total of 0.1254
Subtract 0.1254 from the high of 1.9554 and you get a price of 1.8304 ass the centre of the

Reaction Swing.
Place a sell stop at 1.8304.When the market passes through this price, the sell stop is

triggered and you are short GBPUSD at 1.8304.That should be around august this year..
The next step is to determine the maximum possible timespan of the trade..According to TIME

PROJECTION strategies, the Reversal date(high probability turning point of its trend) is

scheduled as from 4 to 8 months from now..Those on March futures could take mental note.
Whichever comes first...1.3090 target for our price projection or 4 to 8 months in our time

projection..whichever one comes first

Originally Posted by kongsar168

is everyone here ever use indicator cat50fx ???

Not sure,kong..

Quote from trackstar:

what "method" are you using for these conditions?

Hi trackstar,It is much of a ''method'', than it is a strategy...The CHART PATTERN

RECOGNITION AND PRICE PROJECTION STRATEGY simply tells us where price is going and how far

it might get there, to a considerable extent..

technamental wrote:

No.. Your posts here are not collaborative. They are self promoting. I don't think

you have any intent of interacting with this forum's users on the other threads

here...

You are quite mistaken, my good fellow..maybe there's a slight misunderstanding here...I

intract by answering comments and questions addressed in this thread..Just by reading your

posts along with others, here, shows inclusion..I'm sorry if it seems self promoting to you,

but I believe readers have a lot to gain when going through this thread,whether

participating or non participating..very educative and reveals how real life practical

trading works..no spouting of theories that brings no profits to members..Why cover the

light under a basket in darkness? The purpose and nature of light is to shine!
This is like a JOURNEY...A JOURNEY INTO THE HEART OF TRADING...A MOVEMENT...A MOVEMENT INTO

THE FRONTIERS OF OPPORTUNITIES! And if along the way, showing that trading can be a

winner's game..or something good can come out of my country Nigeria, despite all the media

negativity...if considered as self promoting..then so be it...Cant win'em all, can we?



[09:57:05 21/11/08] Stalion : hi everyone

[09:57:23 21/11/08] Stalion : so for Friday,we put a buy stop on GBPUSD @ 1.4865...1st

target @ 1.4900...2nd target @ 1.4950...3rd target @ 1.5050

[10:33:27 21/11/08] Maximus : I received the sms to late for the trade....

[10:43:26 21/11/08] Maximus : masif1 did you had the chance tp enter in the trade...

[10:49:06 21/11/08] djcarlos : i enter ... and after to 1st target hit... went out and

re-enter... and now in 2nd hit go out.... thanks Stal



[10:49:18 21/11/08] djcarlos : 80 pips in the bag

[10:54:00 21/11/08] djcarlos : The sell stop is 1.4970????

[11:12:04 21/11/08] masif1 : hi maximus

[11:12:15 21/11/08] masif1 : i did and trailing a the s/l

[11:12:25 21/11/08] masif1 : 50pips already in the bag!

[11:13:11 21/11/08] djcarlos : do you will enter the sell stop ???

[11:13:30 21/11/08] djcarlos : now is hiting

[12:55:08 21/11/08] masif1 : 3rd target hit

[12:55:41 21/11/08] masif1 : 185 pips



[12:55:55 21/11/08] masif1 : cheers

[13:15:14 21/11/08] Maximus : whatr is the sell stop????

[13:38:07 21/11/08] masif1 : it was buy stop order not a sell

[14:04:34 21/11/08] Maximus : what was the sell stop that Stalion send on the sms???

[15:37:20 21/11/08] masif1 : 10:39:43 20/11/08] Stalion : okay....sell stop at 1.4820..1st

target at 1.4785....

[15:51:44 21/11/08] djcarlos : the sell Stop of Trapping the Dragon its in 1.4970..

[16:24:45 21/11/08] masif1 : lol

[16:24:54 21/11/08] masif1 : your right djcarlos

[16:24:57 21/11/08] masif1 : good call

[16:25:03 21/11/08] masif1 : shame i missed it

[16:47:39 21/11/08] Maximus : the sell stop 1.4820 is still good or not!!!!

[17:04:57 21/11/08] djcarlos : I used 1.4970 sell stop... and go out with 170 pips

[17:05:16 21/11/08] djcarlos : Very Happy

[17:05:23 21/11/08] djcarlos : thanks Stal

[17:07:44 21/11/08] djcarlos : the trapping of dragon worked exelent..

[17:29:48 21/11/08] masif1 : what a dragon!

[17:29:54 21/11/08] masif1 : well done djcarlos

[17:30:39 21/11/08] masif1 : that's a possible 300-400 pips made today!

Originally Posted by bertmaple

okay- a few things ive learned through the years of fxing -

go with the trend & dont try and guess when the trend is over

BUT.......

did anyone else see the USD turnaround signs? Not really a strong one with GBP - but a

perfect trendline touch on EUR, almost a double top reaction spike on CHF.

All pairs showed serious rection spikes today - without surpassing former lows/highs

Kind of like slamming the brakes on your car.

Wonder if Mon Asian market will dump lots of cash in - or wait because of light US trade

week?

Will the slow trade week basically reset all the indicators and make this one giant

bull/bear trap?

Set yr stops close ~

Thoughts?

Quite elementary, my dear Watson..I mean, Bert..The Doggy Style move on the GBPUSD have the

potential of yielding approximately 135 pps when we put a sell stop @ 1.4922..1st target @

1.4881..2nd target @ 1.4840..3rd target @ 1.4787...if you fear a trap, you can also put a

buy stop on the same entry @ 1.4922..1st target @ 1.4945..2nd target @ 1.4970..3rd target @

1.4995..on the bullish side..USDCHF might also open on the bullish side @ 1.2225..1st target

@ 1.2245..2nd target @ 1.2262

[forexgreenland]

[00:07:31 24/11/08] Stalion : hi everyone

[00:09:04 24/11/08] Stalion : price made a bullish gap on the opening gap of the Asian

session....so its a very good opportunity

[00:09:40 24/11/08] Stalion : we put a sell stop @ 1.4922..1st target @ 1.4881..2nd target @

1.4840..3rd target @ 1.4787...if you fear a trap, you can also put a buy stop on the same

entry @ 1.4922..1st target @ 1.4945..2nd target @ 1.4970..3rd target @ 1.4995..on the

bullish side..USDCHF might also open on the bullish side @ 1.2225..1st target @ 1.2245..2nd

target @ 1.2262

[00:10:13 24/11/08] Stalion : we revise our sell stop to 1.4945

[00:53:13 24/11/08] djcarlos : FXCM it having problems... i cant enter the sell stop

[01:14:33 24/11/08] djcarlos : entry point was hit??? I cant see

[01:26:30 24/11/08] Stalion : hmmmm....

[01:27:04 24/11/08] Stalion : the doggy style didnt work?

[01:27:46 24/11/08] djcarlos : I dont know ... I cant see .. my plataform it having

problems...

[01:32:03 24/11/08] djcarlos : how was the alert???

[01:33:52 24/11/08] Stalion : we just hit first target

[01:34:07 24/11/08] djcarlos : Sad



[01:39:46 24/11/08] Stalion : u can still enter now....

[01:40:01 24/11/08] Stalion : price still has some distance to go....

[01:50:28 24/11/08] djcarlos : I cant because my broker is not working

[01:51:19 24/11/08] djcarlos : The doggy style is going to be like trapping dragon.... it

will going up.. after down??

[02:57:15 24/11/08] djcarlos : I cant enter yet

Originally Posted by bertmaple

I dont know Holmes,

looks like the USD is about to go down.

Dr Who?
Sorry...bert...stuff happens..right?