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.


Our last target on Friday (1.5905) was finally hit, which in itself , was the 60% SELL

WINDOW of the previous trend..I know..I know...everyone says we should sell during price

rallies( rise) when the trend is down but we bought...and 217 pips came out of that

decision.
Now as the time of writing,(5.50 GMT Sunday), price on the GBPUSD 15min closed on Friday

with a bearish candle..
Observe that that close(1.5903) was at the region of the 60% SELL WINDOW, which usually

foretells a turnaround in price...which, in this case, pausing from its prevailing uptrend

to a much probable downtrend.
But the question is ''HOW FAR IS PRICE GOING ON ITS PERCIEVED BEARISH MOVEMENT?
We've, to a considerable extent, determined the direction of GBPUSD on the 15 minute chart,

as bearish...so now, we are looking at HOW FAR this bearish move might likely go..That is

the essence of the CHART PATTERN RECOGNITION AND PRICE PROJECTION STRATEGY.
That , my friends, is what we term the ''60% Beethoven Cantata in B Major''..
Those numbers, 1-2-3 was observed to continue and recur upwards in the prevailing

uptrend...so we extrapolate them on our next anticipated downtrend...



High=1.6326-Low 1.5262=0.1064
0.6*0.1064=0.06384(range)
1.5262+0.06384=1.5900 ( 60% sell window).

high 1.5943 - low 1.5747= 0.0196
0.6*0.0196=0.01176(range)
1.5747+0.01176=1.5865(60% window) 1st target to the downside..

2nd target @ 1.5666...3rd target @ 1.5523....

In less than 4 hours from now, the forex markets will open, with the Asian Session leading

the pack..Only time would tell if our targets are hit...Remember there's no 100% perfection

in the markets..Anything can happen..thats why proper risk management is important..
Proper money management dictates we fix our stop loss above the high of 1.5943, when going

short(selling).tHats like 40 pips above the close of 1.5903.
A bearish gap to the downside might also likely form at the opening bell which shows

oversold orders pouring in the markets..
Please feel free to make any comments or ask questions..

Hi willabala, thanks for your constructive criticism...well, the last high on friday of

1.5933 is a significant resistance because it is the current MAJOR HIGH...Price needs to

break above that level to confirm a bullish trend. Can you please tell us your reasons for

going long at 1.59?



This is like a case study of different traders with different bias (long and short).. At

that 1.59 level, you were in favour of a buy position while I was in favour of a sell

position..For me, that level was SELL WINDOW in which my bias would be short...Even if I

want to go long, I would have gone for the first pyschological level @ 1.5940...which gave

strong resistance,before price started retracing downwards..1.595 would be pushing it when

price is already giving signals its overbought and at the sell window..
Well, we all learn everyday,mon ami..

Can you tell us the reasons you took a long trade instead of a short,willaballa?Did you

notice the bearish gap?



Thanks,Dave...you were right...the price targets were hit some hours after the ''Beethoven

Cantata In B Major'' call...extra 200 pips were left hanging on the table..







[08:17:17 27/10/08] klho83 : Hi stal

[08:20:45 27/10/08] Stalion : Hi K

[08:21:14 27/10/08] Stalion : morning agba...monkeymagic

[08:21:26 27/10/08] monkeymagic : hi stalion

[08:22:46 27/10/08] Stalion : hope you guys took our short call yesterday...from

1.59...price went down a huge drop by +400 pips..

[08:23:56 27/10/08] monkeymagic : I have been following recent activites & keen to get

involved

[08:24:22 27/10/08] monkeymagic : don't really know what I'm doing though

[08:24:40 27/10/08] Stalion : cool

[08:25:11 27/10/08] Stalion : how long've you been trading?

[08:25:43 27/10/08] monkeymagic : I've been running a demo account and tried a couple of EAs

[08:25:57 27/10/08] monkeymagic : no live stuff yet

[08:29:28 27/10/08] Stalion : we put a sell stop on GBPUSD @ 1.5426...1ST TARGET @

1.5370...2nd target @ 1.5305...3rd target @ 1.5260

[08:29:51 27/10/08] Stalion : okay...

[08:30:07 27/10/08] monkeymagic : sounds good

[08:32:23 27/10/08] Stalion : any strategy that ur using presently?

[08:32:55 27/10/08] monkeymagic : no

[08:33:08 27/10/08] monkeymagic : Im pretty green at trading

[08:34:05 27/10/08] monkeymagic : this might be a silly question - but do you have to do

three different order for the targets

[08:35:06 27/10/08] Stalion : well, no question is silli,mm...especially in trading..

[08:35:41 27/10/08] Stalion : for 3 targets, you close a third (1/3) of your original

position

[08:36:02 27/10/08] Stalion : for 2 targets, you close half of original positions...

[08:37:30 27/10/08] monkeymagic : great thanks for that

[08:48:20 27/10/08] klho83 : Hi stal Where is the SL for GU

[08:48:22 27/10/08] Stalion : sell stop triggered

[08:50:05 27/10/08] Stalion : stop loss @ 1.5500

[08:51:04 27/10/08] klho83 : Thanks !

[08:56:05 27/10/08] skipper : Morning everyone

[08:56:43 27/10/08] Stalion : please take a third(1/3) profit when +20 pips ashead...

[08:57:00 27/10/08] Stalion : and shift stop loss to entry point



[13:08:20 27/10/08] Stalion : so skipper, how long have you been trading? 2yrs?

[13:09:07 27/10/08] skipper : Hi Stalion - just over a year now & it's been a bumpy ride.

[13:09:43 27/10/08] djcarlos : I have been 3 years, but I was lost in 2 times... but now

with the alerts... im going well

[13:13:32 27/10/08] Stalion : what are the particular challenges you guys are facing in

trading???where would you like to become better?

[13:14:19 27/10/08] skipper : I have trouble deciding on entry points.

[13:14:41 27/10/08] skipper : I seem to have the right idea, but always a bit early in.

[13:15:16 27/10/08] skipper : But I am getting better - just have to be more patient

[13:16:18 27/10/08] Stalion : Timing of entries is one of skipper's challenges...like every

other trader...

[13:16:29 27/10/08] Stalion : dj?

[13:16:32 27/10/08] enolase : Fibonacci is something I would really want to learn

[13:16:48 27/10/08] enolase : so as to be able to get in on retracements

[13:16:56 27/10/08] Stalion : enolase?

[13:17:03 27/10/08] Stalion : ohh,okay

[13:17:37 27/10/08] enolase : Friday was one of the few times i was able to plot and enter

at 38.2 retracement on EURJPY that gave me80 pips in profit

[13:18:08 27/10/08] enolase : but i have never been able to determine properly where to

start the plotting of the Fibo lines from

[13:18:18 27/10/08] enolase : using my chat software

[13:18:39 27/10/08] enolase : sorry i mean using my MT4 chart Fibo tool

[13:20:37 27/10/08] enolase : if i can determine exactly where to start the plotting from so

one can re-enter on a 50% or 61.8% Fibo retracement level, it will really enhance my trading

[13:26:43 27/10/08] Stalion : fibo's not that hard,enolase...but it will take a little time

before you can get used to practicing it

[13:39:13 27/10/08] Stalion : djcarlos...? any forex challenges or problems you want to

overcome?

[13:41:07 27/10/08] djcarlos : yes, I want to start to learn about ways to determine entry

points... in technical and fundamental analisis

[13:42:10 27/10/08] skipper : same here

[13:42:45 27/10/08] djcarlos : I have the knowledge, but i must practice

[13:43:55 27/10/08] enolase : Stal, do we have a potential double bottom forming on the 1hr

chart of EURJPY?

[13:48:51 27/10/08] enolase : and what is this talk of a Yen Intervention?

[14:01:37 27/10/08] Stalion : yea...practice makes perfect,dj

[14:02:27 27/10/08] Stalion : even with all d knowldge and skills in ur disposal,if you dont

practice daily, its wasted..

[14:04:45 27/10/08] Stalion : sorry, mate....that double top on the EURJPY looks weak...kind

of sliding price down to the right

[14:05:01 27/10/08] enolase : yes

[14:05:44 27/10/08] djcarlos : thanks........ Im looking Eur/Jpy chart, and it could be

interesting sell order.... what do you think???

[14:06:54 27/10/08] enolase : of course there are rulesfor entering based on double top:

placing a pending order at the "neck"

[14:07:00 27/10/08] enolase : the neck is still over 300 pips northwards

[14:09:21 27/10/08] Stalion : it would have been a 1-2-3 bottom but the recent low at 9 a.m

this morning breached the previouslow that was there at 113.77

[14:17:28 27/10/08] Stalion : price is moving rather slow...

[14:21:21 27/10/08] Stalion : I suggest a break ...from the screens...we come back in a

hour's time or so...so we put a sell stop @ 113.60...1st target @ 113.10..on the

EURJPY...GBPUSD has more upside momentum than EURJPY...yen is just lagging behind...

[14:22:21 27/10/08] Stalion : maybe cable might give yen some added lift?

[14:28:09 27/10/08] Stalion : a breach above the high of 116.83 would foretell a bullish

move

[14:30:28 27/10/08] Stalion : cool

[14:31:30 27/10/08] Stalion : that could mean the formation of the 1-2-3 pattern

[14:36:43 27/10/08] djcarlos : its ready the entry order

[14:36:55 27/10/08] djcarlos : im waiting

[15:18:31 27/10/08] Stalion : We also put a pending buy stop order on EURJPY @

117.10,1sttarget @ 118.00, 2nd target @ 118.95...3rd target @ 120.53...stop loss @116.10

[15:19:02 27/10/08] Stalion : this ensures we catch any surprise bullish move to the north

[15:54:12 27/10/08] enolase : hi people

[15:55:42 27/10/08] djcarlos : Hi did you see the alerts??

[15:56:53 27/10/08] enolase : yes

[15:56:58 27/10/08] enolase : the GU trade has triggered

[15:57:55 27/10/08] enolase : so we watch it

[15:58:58 27/10/08] skipper : Missed the alert - where was it?

[16:00:28 27/10/08] djcarlos : Enolase... you will open the GU alert again??

[16:00:33 27/10/08] skipper : sorry - being stupid - I did see it!

[16:00:40 27/10/08] skipper : Have short on

[16:06:20 27/10/08] enolase : The ECB President has just hinted on a rate cut at the next

meeting!

[16:07:42 27/10/08] djcarlos : what that means???

[16:07:52 27/10/08] djcarlos : GU is going down??

[16:19:31 27/10/08] enolase : we got stopped out

[16:20:02 27/10/08] enolase : and the market seems headed in a range bound direction. so i'm

taking a break

[16:26:34 27/10/08] djcarlos : mmmm i was open again the alert... bad idea..

[18:45:17 27/10/08] djcarlos : HI good news 1st target of 118.00 was hit.... thanks Stal 100

pips in the badge

[23:37:50 27/10/08] Stalion : cool,djcarlos

[23:39:11 27/10/08] Stalion : 377,44,and 90 pips netted us a total of 511 pips,$511

minilot..$5110 standard lot on Monday

Hi willaballa,that means there was nothing wrong with your entry at 1.59 due to a break of

resistance at 1.5890...it was just a challenge of targets and exits,dats all...Like you

rightly said, 30 pips is okay for a trade,especially if you multiply it by multiple lots..2

minilots would be like 90...4 minilots like 120...
You just need to believe more in yourself and your strategy in order to have the confidence

to make successful trades...Its only a matter of time...you'll get there,as long as you

strive to be better than who you were yesterday..
As I write, the next alert is on the last segment of the chat..

P.s- Trading is not 100% perfect neither is it cast in brick and mortar...price might still

go down instead of up, so please use proper risk management.





Helloo Mauro...Howz Beunos Aires and your fellow gauchos in the pampas? You rock,amigos...
Well, if you are looking for forex resources, you can check at babypips for some

introductory stuff...Then maybe go through Technical Analysis of the Financial Markets by

John J Murphy, and the Candlestick Course by Steve Nison..That should help for a start..


[08:25:01 28/10/08] monkeymagic : morning skipper

[08:56:28 28/10/08] skipper : morning everyone

[08:59:18 28/10/08] monkeymagic : hows everyone going with their trading?

[09:00:25 28/10/08] djcarlos : HI everyone from chile, 05:00 here

[09:01:00 28/10/08] monkeymagic : djcarlos - you must be keen

[09:02:00 28/10/08] monkeymagic : its 9.00pm in New Zealand

[09:02:42 28/10/08] skipper : 8am UK - any alerts today guys?

[09:03:32 28/10/08] monkeymagic : I haven't seen any

[09:05:44 28/10/08] djcarlos : somebody wake up me when the alert is ready

[09:05:56 28/10/08] monkeymagic : lol

[09:06:00 28/10/08] djcarlos : jeje

[09:09:53 28/10/08] Stalion : helloo everyone..

[09:10:00 28/10/08] skipper : morning stal

[09:10:25 28/10/08] djcarlos : good night yet here jeje!

[09:10:44 28/10/08] klho83 : hi gm all!

[09:11:38 28/10/08] Stalion : hope you'all had a good night rest.....

[09:12:34 28/10/08] Stalion : did anyone take the EURJPY trade yesterday?

[09:13:10 28/10/08] skipper : yes - thanks

[09:13:31 28/10/08] klho83 : No

[09:14:03 28/10/08] monkeymagic : that would have been in the middle of the night for me

[09:14:19 28/10/08] Stalion : we put a buy stop on the GBPUSD @ 1.5570...1st target @

1.5618..

[09:15:56 28/10/08] Stalion : 2nd target @ 1.5668...sl @ 1.555520

[09:16:19 28/10/08] Stalion : sory, 1.5520

[09:16:50 28/10/08] skipper : OK Stal

[09:18:25 28/10/08] Stalion : [15:18:31 27/10/08] Stalion : We also put a pending buy stop

order on EURJPY @

[09:18:36 28/10/08] Stalion : 117.10,1sttarget @ 118.00, 2nd target @ 118.95...3rd target @

120.53...stop loss @116.10

[09:19:32 28/10/08] Stalion : 343 pips total was made again, on EURJPY...if your buy stop

was in place



[09:22:16 28/10/08] skipper : OK Stalion - Than you

[09:22:40 28/10/08] djcarlos : Hit first trget GU.. its ll going up???

[09:22:49 28/10/08] Stalion : 1st target hit @ 1.5618 on the gbpusd...



[09:24:15 28/10/08] klho83 : 50%

[09:26:00 28/10/08] Stalion : am sorry it went too fast

[09:26:36 28/10/08] Stalion : you can reenter if you didnt get the 1st chance

[09:27:06 28/10/08] djcarlos : its falling

[09:27:15 28/10/08] Stalion : can klho83 explain how he allocates percentages to his

minilots??

[09:28:26 28/10/08] Stalion : then reenter with a buy stop at 1.5580

[09:28:58 28/10/08] Stalion : because price will still move up, under normal market conditions

[09:30:59 28/10/08] klho83 : 4 mini lots. 2 (50%) set at 1st target,1(25%) set at 2nd target

and last 1(25%) 3rd target with trailing

[09:41:42 28/10/08] Stalion : thanks, K

[09:42:38 28/10/08] klho83 : Add 2 minilots at the entry pts ,hit again

[09:42:44 28/10/08] Stalion : cable proceeding steadily upwards to our 2nd target

[09:44:19 28/10/08] Stalion : Eno was right...the double bottom on the EURJPY was an

accurate one...

[09:51:22 28/10/08] Stalion : did you enter our gu trade?

[09:51:51 28/10/08] skipper : yes - thanks

[09:52:28 28/10/08] skipper : & have made the entry order on EUR/JPY

[09:52:29 28/10/08] Stalion : no probs....

[09:52:35 28/10/08] Stalion : kiwi??

[09:52:46 28/10/08] skipper : looks like cable is coming down now

[09:53:26 28/10/08] skipper : but pips from 1st target in the bag!

[09:54:31 28/10/08] Stalion : after price gets to 1st target or even just +20 pips in our

favour, we then adjust our stop loss upwards to our entry level point...dat ensures we get

out with little or no loss when price retraces against our position....remember half profits

would have been taken then

[09:54:44 28/10/08] monkeymagic : I tried to make trade - but got an error

[09:55:29 28/10/08] skipper : Yes - I moved sl to entry - so not losses!

[09:57:14 28/10/08] djcarlos : GU it still going up???? because i dont get the pips of 1st

target

[09:57:14 28/10/08] skipper : OK - closed out now

[09:58:14 28/10/08] Stalion : the EURJPY call was for yesterday....skipper...price needs to

drop down to 116.83 before going back upwards...

[09:58:50 28/10/08] Stalion : did you factor that info in with our original entry order on

the EURJPY?

[10:00:46 28/10/08] skipper : Stal I have adjusted pending buy order accordingly. Thanks for

checking!

[10:01:52 28/10/08] djcarlos : waht is the new entry @ for eur???

[10:04:37 28/10/08] Stalion : it might be better to put a buy limit on the EURJPY @

116.83...OR wait for price to breach 116.83 first before placing a buy stop on it....sl

@115.85

[10:05:26 28/10/08] Stalion : or just stick with our original entry point of yesterday

[11:55:23 28/10/08] djcarlos : Klho83 I have a question, if the SL if far than 1st target,

the loose 50% it will make a lost position

[12:03:09 28/10/08] skipper : dj when 1st target is hit - move sl to breakeven for the

remaing 50% of your trade.

[12:03:25 28/10/08] skipper : That way you bag the money on first target

[12:03:43 28/10/08] skipper : then if you let the rest of your trade run, you can not go

wrong

[12:04:32 28/10/08] skipper : worst case scenario - you have profit from 1st target getting

hit - then market moves in opposite direction & your stop gets hit at zero.

[12:04:44 28/10/08] djcarlos : ahh!! ok if I hit the first target, i would have move my SL

to the hit... ok thats good

[12:05:13 28/10/08] skipper : No don't move sl to hit - move sl to entry point

[12:06:16 28/10/08] djcarlos : ok sorry... yo entry point... thanks it very good technics

[12:06:42 28/10/08] skipper : ok - it works well

[12:09:04 28/10/08] djcarlos : what do you think for the cable to Eur/Jpy.... its will be

had results??

[12:10:27 28/10/08] skipper : I only study cable - CBI results just out were better than

expected - very surprising

[12:11:19 28/10/08] skipper : although they haven't caused any movement as such

[12:17:48 28/10/08] caprica1 : morning everyone. How goes it?

[12:19:37 28/10/08] skipper : I re-entered on the cable long & got 100 pips - thanks stal!

[12:37:51 28/10/08] caprica1 : Anything for this morning so far?

[12:41:05 28/10/08] klho83 : Yes, GU hit all target!



[12:43:27 28/10/08] caprica1 : kool! Plenty of pips then?

[12:43:40 28/10/08] klho83 : Another pending order but i don't think to EJ wu come to the

price:

[12:44:01 28/10/08] djcarlos : congratulation, i had a mistake and dont win

[12:44:02 28/10/08] klho83 : EURJPY @ 116.83...OR wait for price to breach 116.83 first

before placing a buy stop on it....sl @115.85

[12:47:21 28/10/08] caprica1 : yeah it's quite long way away from the entry at the moment.

[17:41:47] Stalion : hope you made some money off our gbpusd and eurjpy call?

[17:43:22] Stalion : we put a buy stop on GBPUSD @ 1.5620...1st target @ 1.5655...2nd target

@ 1.5670

Thank You Very much for share this interesting Strategy.
Btw Can you help me with this :

"high 1.5943 - low 1.5747= 0.0196
0.6*0.0196=0.01176(range)
1.5747+0.01176=1.5865(60% window) 1st target to the downside.."

From where you pick it up 1.5747 ?

Thank you before that. Nice Strategies i like it, Simple System like this because i now

simple is better & more profitable.

All The Best;

Manus168

Re:Keeping It Simple Smarty(KISS) is a great way of becoming better and profitable in

trading,especially when you dont clutter your charts with a map of indicators and

objects,Manus...1.5747 was the low of that trend, which was subtracted from the high of the

trend.Thanks, mon ami...


Submitted by Qais on October 27, 2008 - 15:21.

Hello,

I just caught a glimpse of the above article and I would like to thank you for such a simple

& lucent summary of what trading is all about.
You have indeed put it in a nutshell.
May God reward you for your kindness and goodwill.

Grace & Peace
Qais


Re:Thanks,Qais...Just continue 'glimpsing' the thread and more insights shall come..May The

Force Be With You..


Hi Mr. ForexGreenland,
I was reviewing your input at the Informed Trades Website and was very impressed with your

contribution.
I started Forex this year using the algorithms of the red and green lights and losing.
Lately I became curious and encouraged to attempt learning candlestick reading and the

variables that go along with it. I am writing to get help from you to stir me on the right

course at the start. Don't want to get into bad habits. Could you send me some beginning

basic information and or videos that helped you.

Thanks,

Karen

Re: From your mail,Karen, you give the impression of being a left brained trader, with words

like ''algorithm,variables,etc..''standing out in your comments.. You see, a left brain type

is stronger with figures,analytics,etc,while a right brained type is more in tuned with

words,abstracts,etc..
The candlestick reading involves identifying, interpreting and taking advantage of chart

patterns, in which it is quite subjective..like 2 different traders coming across a chart

pattern and reaching different conclusions..this is more discretionary trading than

mechanical..
anyways,to avoid bad habits, you strive to do the opposite of that which you term ''bad

habits''...for Nature habours a vacuum...like if you are fond of placing trades without a

stop loss, then you do the opposite and fix your stops while placing your trades,etc..
to be sincere,what helped me along the terrain of this frontier were books/videoes that were

bought...AND practiced. You can read all the books and videos on golf,but ..if you are not

applying them on the fields or trenches, they might not do much in effectiveness to making

you a top player in the Grand Slam...so tell me...What is your objective...in trading?

[17:41:47 28/10/08] Stalion : hope you made some money off our gbpusd and eurjpy call?

[17:43:22 28/10/08] Stalion : we put a buy stop on GBPUSD @ 1.5620...1st target @

1.5655...2nd target @ 1.5670

[18:02:34 28/10/08] djcarlos : !!!!!!!! Shocked what happen with GU..... extreme fall

[18:21:03 28/10/08] masif1 : s/l?

[18:21:53 28/10/08] djcarlos : did you know that GU was fall???

[18:22:11 28/10/08] djcarlos : Stalion said???

[19:10:22 28/10/08] djcarlos : GU entry was hit

[19:22:10 28/10/08] djcarlos : cheers 1st target hit

[19:22:57 28/10/08] djcarlos : 2nd target too .... Thanks Stal... good trade

[01:34:09 29/10/08] Stalion : well done, djcarlos...we did it again

[01:35:10 29/10/08] Stalion : though we made 50 pips, $50 minilot,$50 standard lot on the

GBPUSD...



[01:38:06 29/10/08] Stalion : funny though...we were going for 50 pips off the Buy Window,

instead 400 pips were made

[01:38:22 29/10/08] Stalion : or more...

[01:43:02 29/10/08] Stalion : so as at 1a.m this wednesday morning,price has made a new high

@ 1.6113 but retracing slowly downwards.......so where is it going?

[01:43:29 29/10/08] Stalion : 3 answers

[01:44:51 29/10/08] Stalion : 1 Price going for new highs by breaking the recent high of

1.6113?

[01:46:13 29/10/08] Stalion : 2. Price retracing from its recent high to the 30& buy window?

60% buy window? sell window?

[01:47:11 29/10/08] Stalion : 3. Price making a consolidation range into the London Session?

[01:48:54 29/10/08] Stalion : Read those answers again...ask yourself some questions...then

check the charts

[01:49:45 29/10/08] Stalion : Now ask yourself...

[01:50:51 29/10/08] Stalion : what possibilities exists for any of the 3 answers to be

turned into financial opportunity?

[01:54:49 29/10/08] Stalion : For I to exist, a buy stop above the high of 1.6113 to a 1st

target of 1.6155 upwards ?

[01:56:53 29/10/08] Stalion : For 2 to exist, a sell stop below the recent low at 1.6024,for

a 30% buy window of 1.5891?

[01:59:05 29/10/08] Stalion : or a sell stop below the recent low at 1.6024 (1.15 Nigerian

Time), for a 60% buy window of 1.5758..or just take both as targets?

[02:09:20 29/10/08] Stalion : For 3 , we stay aside...



[02:10:20 29/10/08] Stalion : guess what...guys...Number 2 might be the most probable one ,

with 2 targets..on the downside

[02:10:39 29/10/08] Stalion : only time will tell

[02:12:09 29/10/08] Stalion : stop loss for 2 option is 1.6070

[02:16:36 29/10/08] djcarlos : Hi Stal

[02:17:08 29/10/08] djcarlos : I make de Entry orders

[02:18:28 29/10/08] Stalion : cool

[02:19:28 29/10/08] djcarlos : Im always ready, dont matter the time

[02:20:57 29/10/08] Stalion : what time is it, in Santiago, Chile?

[02:22:09 29/10/08] djcarlos : here is 22:20 hrs.... when you trade in the morning here is

05:00... and I trade from my bed Sleep

[02:22:31 29/10/08] iykeman2008 : nope stall

[02:23:03 29/10/08] iykeman2008 : i asked you guys som question yesterday and i am yet to

hear from u

[02:23:05 29/10/08] Stalion : hmmmm....

[02:23:29 29/10/08] djcarlos : it exist posibilities of fall of GU??

[02:23:40 29/10/08] Stalion : price is at 1.6022 as we speak....about to resume its decline

[02:24:25 29/10/08] djcarlos : the entry point was hit

[02:24:52 29/10/08] Stalion : 1.6019 now

[02:28:05 29/10/08] Stalion : Gentlemen, we are commencing the DISSECTION OF THE HIGH

[02:29:26 29/10/08] iykeman2008 : 1.6010 now

[02:30:19 29/10/08] Stalion : hope you are ready

[02:32:45 29/10/08] djcarlos : hell yea!!! I listened that in WWF jeje!! Very Happy

[02:36:25 29/10/08] djcarlos : I learned to use the tecnical of target 50% 25% 25%

[02:41:32 29/10/08] Stalion : cool

[02:44:36 29/10/08] Stalion : from klho83?

[02:47:23 29/10/08] Stalion : its a nice risk management strategy

[03:08:28 29/10/08] Stalion : hmmmm.....gbpusd pip spread is now 6 pips at alpari...3 pips

more than the usual spread of 3 pips

[03:09:36 29/10/08] djcarlos : my broker has 10 pips of spread

[03:10:54 29/10/08] iykeman2008 : k

[09:04:37 29/10/08] alanlewis : 48 pips off gu trade so far.



[09:19:38 29/10/08] caprica1 : morning everyone

[10:09:49 29/10/08] masif1 : saw the buy from yesterday afternoon hit its 2nd target

[10:09:55 29/10/08] masif1 : well done

[10:33:57 29/10/08] djcarlos : the sell GU alert of the night hit 1st target, about 44 pips

[10:36:00 29/10/08] djcarlos : was good

[10:36:09 29/10/08] klho83 : no . Not yet dj

[10:37:55 29/10/08] djcarlos : yes, im closing that the sell signal of 02:00am

[10:39:01 29/10/08] djcarlos : somebody will open buy stop at 1.6113?

[11:01:53 29/10/08] Stalion : hi everyone

[11:09:29 29/10/08] Stalion : our first call on cable,50 pips or so, was hit yesterday

evening....

[07:38:28 30/10/08] djcarlos : Hi 03:37am in chile... I dont want to sleep any more, I only

want to trade, Razz regards

Good evening,Ladies and Gentlemen,
Hope you'all having a lovely weekend...?
As at 10pm Nigerian time, we await the opening bells of the Asian Session in which the

GBPUSD(cable) closed on a bearish note last week Friday..Our stop loss was put at the recent

high of 1.6164,which was the most recent intermediate high..Price would have to breach that

resistance level, a few inches below the DRAGON FIST.. in order to confirm a bullish drive..

[11:11:38 31/10/08] Stalion : so we put a sell stop on gu @ 1.6100...1st target @

1.6045...2nd target @ 1.5975...sl@ 1.6185

Rumours of Bank Of Japan's(BOJ) intervention to sell Japanese yen in the markets so as to

reduce the value of the yen, might see it decline against major pairs..

Now where do we think GBPUSD is going? Up? Down? Sideways Consolidation?
Well, the last complete candle to the right was a bearish one...and the most recent

incomplete candle, in which price pierced the low of the last complete candle, also suggests

a bearish note...
But I could hear someone bluster..''But Stallion, isnt price at the 60% buy window?shouldnt

we expect price to go up, instead of down?
Well, from the way I see it, price should be ready to be retracing back up..but it met the

DRAGON FIST...If the market opens with a bearish gap today, there's a very good chance of it

reaching for our 3rd target point of 1.5922



1.6252-1.6033=0.0219
1.6141-0.0219=1.5922( 3rd target point)


Only time will tell if our trade call is correct...Remember dont try this at home...dont try

the DRAGON FIST at home...

Yes,palmguy...but nothing is 100% perfect in trading...most of the time, it tends to be more

about TIMING OF THE ENTRY than exits..though but are quite important..







The only ''Holy Grail'' of trading,where you never lose a single trade is non

existent..except the one you see when looking at the mirror..YOU are the ''Holy Grail''..








[02:39:37 03/11/08] Stalion : hello djcarlos

[02:41:38 03/11/08] Stalion : price didnt continue its downard movement...rather it complied

with the 60% buy window and went bullish..so for now,the 60% window is more potent and time

efficient than the DRAGON FIST in intraday trading



[02:42:45 03/11/08] Stalion : so we put a buy stop @ 1.6200...1st target @ 1.6255..2nd

target @ 1.6320..

[02:44:05 03/11/08] Stalion : sl@1.6155

[03:57:50 03/11/08] djcarlos : I dont made the entry because i dont was conected.... please

Stal.... remember send a text plase

[03:57:55 03/11/08] djcarlos : please

[03:58:16 03/11/08] djcarlos : It was a very good trade....

[03:58:44 03/11/08] djcarlos : congratulation, but I miss it

[06:54:19 03/11/08] enolase : hi everyone

[06:54:47 03/11/08] enolase : prices were rangebound on Friday, and I should have put a

pending order on the north side

[06:55:06 03/11/08] enolase : but i didn;t and i equally missed the trade alert

[06:55:41 03/11/08] enolase : but a good call.



[08:05:59 03/11/08] enolase : a platform i am trading on has increased the GU spread this

mprning to 16pips

[08:16:12 03/11/08] enolase : noticed it in a GU trade i took this morning. I wonder what it

will be like on the day of the BoE interest rate decision

[08:56:02 03/11/08] klho83 : Missed!!

[10:04:39 03/11/08] Stalion : missed??

[10:04:46 03/11/08] Stalion : hello everyone

[10:06:43 03/11/08] Stalion : 120 pips,$120 minilot,$1200 standard lot was made on the long

gu call..

[11:28:15 03/11/08] Stalion : so..any guesses where gu is going,guys?

[11:30:33 03/11/08] enolase : GU is hovering around the 50% Fibo leve;

[11:30:38 03/11/08] enolase : so I say it will rebound upwards

[11:30:50 03/11/08] enolase : i'm hoping i plotted it right

[11:31:39 03/11/08] enolase : but of couse we watch the charts and see the candle patterns

that play out

[11:32:14 03/11/08] enolase : but for now, it may rebound at least towards the middle

Bollinger

[11:36:28 03/11/08] Stalion : so we put a buy stop @ 1.6230..

[11:37:08 03/11/08] Stalion : 1st target @ 1.6279

[11:37:17 03/11/08] enolase : so Stal, WHAT SAY YE?

[11:39:20 03/11/08] Stalion : sl @ 1.6200

[11:39:40 03/11/08] enolase : Ok, so u agree it's going north?

[11:41:26 03/11/08] Stalion : only time will tell..









[23:17:41 03/11/08] Stalion : the Dragon Fist eventually came down much lower than our 3rd

target of 1.5922,from our sell stop of 1.6100,which brought us a total of

178pips+120pips-64pips-30pips=204 pips

[23:18:14 03/11/08] Stalion : 204 pips,$204 minilot,$2040 standard lot on Monday

[10:27:42 04/11/08] Stalion : helloo everyone

[10:28:19 04/11/08] Stalion : sorry for the late entrance...internet connection here was

pretty bad lately...

[10:30:03 04/11/08] Stalion : fortunately, we are still on no man's land for now...price is

still looking for where to head to

[10:36:03 04/11/08] Stalion : eventually price still went way below and beyond our Dragon

Fist call

[10:36:13 04/11/08] Stalion : the sell order

[10:38:09 04/11/08] Stalion : so we put a buy order on gbpusd @ 1.5835...1st target @ 1.5885

[10:41:51 04/11/08] Stalion : 2nd target @ 1.5960...3rd target @ 1.6035

[10:42:37 04/11/08] Stalion : sl@1.5735

[10:47:14 04/11/08] Stalion : thats like a 100 pip sl...so we use proper risk mgt....we take

off half profits when we are +20 pips ahead..then shift our 100 pip sl back to original

entry

[10:51:46 04/11/08] djcarlos : Stal, the change is +20 pips above the entry point or 1st

target???

[10:52:04 04/11/08] djcarlos : yes its ready, thanks a lot

[11:15:39 04/11/08] Stalion : +20 pips above entry is better due to recent volatility in the

markets..

[11:18:39 04/11/08] fxjedi : Cheers my friend, i hope you are survivng these crazy volatile

markets. I must say in my 20 years of trading Forex i have not seen so much panicking and

shortage of liquidity, I am so pleased i continued developing my in house programmes , been

spending a great deal of time on them this year , to keep me ahead. GL/GT

[11:34:46 04/11/08] djcarlos : hit 1st, I was move the SL and I take 25%.... thanks Stal

[11:35:09 04/11/08] Stalion : 1st target hit @ 1.5885

[11:35:32 04/11/08] Stalion : did you take the trade,namdo?

[11:41:24 04/11/08] namdo : yes i did

[11:48:17 04/11/08] Stalion : helloo there masif

[11:58:01 04/11/08] masif1 : hi stal

[11:58:04 04/11/08] masif1 : no i was too late

[12:25:36 04/11/08] djcarlos : the market is going to go up again... we must take the

entry????

[12:26:54 04/11/08] djcarlos : re-entry???

[12:30:59 04/11/08] Stalion : yes,djcarlos

[12:32:10 04/11/08] Stalion : reentry is in order....we got stooped out in profit when price

retraced back to our original entry point which was also our stop loss..

[12:47:32 04/11/08] fxjedi : firstt taget hit again

[12:48:12 04/11/08] Stalion : yes jedi....please shift your sl to entry now...and take half

profitss

[12:48:31 04/11/08] djcarlos : Im going well



[12:48:55 04/11/08] djcarlos : I put my SL in 1.5870 now

[12:49:28 04/11/08] Stalion : was that were you originally entered,dj?

[12:50:29 04/11/08] djcarlos : 1.5840

[12:51:36 04/11/08] Stalion : hmmmm, dats like 30 pips difference....well its okay if it

fits ur personality,dj

[12:52:06 04/11/08] Stalion : you can still put a 15 to 30 pip trailing stop on

[12:53:09 04/11/08] djcarlos : thanks.... is my second entry in this alert... thanks Stal

[12:54:53 04/11/08] fxjedi : ok trailing stop on

[12:56:18 04/11/08] Stalion : price has to breach the resistance high of 1.5902,before

getting to our 2nd target

[12:56:59 04/11/08] Stalion : of 1.5960

[12:58:00 04/11/08] fxjedi : not sure if it could break ,stal

[13:21:44 04/11/08] fxjedi : ok

[13:49:50 04/11/08] fxjedi : 2nd tagert hit

[14:15:45 04/11/08] enolase : i just missed the party

[14:16:02 04/11/08] enolase : looks like the market is on holiday waiting for the US

election

[16:40:45 04/11/08] djcarlos : ok... im out of this position... but the result was good

[16:40:54 04/11/08] Stalion : 3rd target @ 1.6035 is already hit

[16:42:38 04/11/08] djcarlos : can we enter now... or no yet

[16:44:24 04/11/08] Stalion : if you were not in already, I suggest you step aside for

now...it might be too risky...

[16:45:30 04/11/08] djcarlos : ok..... you are the voice of my conscience

[16:45:35 04/11/08] djcarlos : thanks

[16:46:42 04/11/08] Stalion : you might still put a buy stop at 1.6060,for a 40 pip profit

on our 4th target of 1.6100

[16:53:14 04/11/08] djcarlos : I entered in 1.6060, and out in 1.6090 ..... thanks Stal 30

pips more in the bag.... thanks

[16:58:17 04/11/08] Stalion : 4th target hit @ 1.6100

[16:59:00 04/11/08] Stalion : making a total of 265 pips,$265 minilot,$2650 standard lot on

gbpusd this Teusday

[18:57:58 04/11/08] Stalion : we also put a sell stop @ 1.6000,1st target @ 1.5960...2nd

target @ 1.5915...3rd target @ 1.5870
[18:58:22 04/11/08] Stalion : sl@ 1.6040

[21:07:42 04/11/08] djcarlos : 30 pips in the bag.... thanks Stal

[23:03:56 04/11/08] klho83 : Hi Stal thanks for sms. A bit late .Fisrt target already hit

when I recieved the sms. Entered

[23:04:16 04/11/08] klho83 : small at 1.5960

[05:20:01 05/11/08] djcarlos : HEY!!!!!! wake up everybody Im wining pips with the falling

of GU.... I dont have yours telephone numbers


[09:35:30 05/11/08] fxjedi : looks like gu going up,

[09:36:57 05/11/08] Stalion : cool...

[09:40:34 05/11/08] Stalion : I want to use this opportunity to congratulate Obama for

winning the 08'US Presidential race ....Congratulations...

[09:51:04 05/11/08] fxjedi : 1st trget hit

[09:53:58 05/11/08] djcarlos : what is the second target???

[10:03:58 05/11/08] masif1 : God Bless America

[10:04:22 05/11/08] masif1 : congratultions on America for making the rest of the world

proud

[10:35:14 06/11/08] Stalion : Helloo everyone

[10:35:51 06/11/08] fxjedi : hi Stal

[10:36:18 06/11/08] klho83 : hi all

[10:54:36 06/11/08] Stalion : We put a buy stop on gbpusd @ 1.5960,1st target @ 1.5988, 2nd

target @ 1.6036...stop loss @ 1.5920..

[10:59:27 06/11/08] fxjedi : thanks,first taget was hit for 20 pips,do we reenter?

[10:59:33 06/11/08] Stalion :remember to take half profits when +20 pips ahead, then shift

sl to entry..

[11:01:43 06/11/08] Stalion : yes, we can reenter at our original buy entry..

[13:40:54 06/11/08] masif1 : hi all

[13:31:06 06/11/08] fxjedi : helloo masif



[13:33:58 06/11/08] Stalion :we got stopped out on our reentry buy order,so we put a sell

stop @ 1.5955..1st target @ 1.5915..2nd target @ 1.5855..stop loss @ 1.5998

[13:55:20 06/11/08] fxjedi : 1st taget hi t

[13:56:18 06/11/08] Stalion : 2nd target @ 1.5855...

[13:58:00 06/11/08] fxjedi : i take off half profits now?

[13:58:18 06/11/08] fxjedi : second target hit

[13:58:46 06/11/08] Stalion : great!

[14:00:10 06/11/08] Stalion : 100 pips on our 2nd target...less 60 pips lost on previous

entry...

[14:05:02 06/11/08] Stalion : cool...

[14:23:20 06/11/08] masif1 : 2nd target hit!

[14:23:27 06/11/08] masif1 : 100+ pips



[14:52:29 06/11/08] djcarlos : can I enter now?

[14:54:09 06/11/08] djcarlos : Please dont forget send me a Sms please i miss the alert.

[14:54:19 06/11/08] djcarlos : Crying Very sad

[14:57:31 06/11/08] djcarlos : Sad

[15:03:52 06/11/08] djcarlos : In the buy stop... i lost a lot... so I need the good

alert.... dont forget the Sms.... thanks

[18:33:32 06/11/08] djcarlos : today was the worst day for me - usd$1000 in loses.....

remember alert me by sms to some signal.... byeeee

[09:06:37 07/11/08] klho83 : Didn't get the d last trade alert. Missed the trade

[09:09:47 07/11/08] Stalion : Helloo everyone..

[09:11:20 07/11/08] klho83 : Stal I missed the last trade

[09:12:10 07/11/08] Stalion : yesterday's?

[09:12:39 07/11/08] Stalion : hi Maximus...

[09:15:05 07/11/08] Stalion : we put a buy stop on gbpusd @ 1.5731...1st target @

1.5775...2nd target @ 1.5825...50 pip sl away..

[09:15:22 07/11/08] Stalion : yes,maximus...where are you from?

[09:15:50 07/11/08] Maximus : Canada, Qc

[09:16:25 07/11/08] Maximus : are you from Côte d'ivoire

[09:17:42 07/11/08] Stalion : Nope....I'm a Nigerian....and quite proud to be one too...

[09:17:52 07/11/08] Stalion : A Quebecker?

[09:18:07 07/11/08] Stalion : Bonjour mon ami...

[09:18:18 07/11/08] klho83 : Smile

[09:18:46 07/11/08] Maximus : bonjour à toi...

[09:19:29 07/11/08] Maximus : Is there any 3nd target...

[09:20:23 07/11/08] Stalion : we first get to 2nd target before a 3rd,Max....it depends on

the upward momentum...

[09:21:17 07/11/08] Maximus : Yes but how many lot or contract are you entering with...

[09:23:16 07/11/08] Stalion : mine's different from yours,Max...I also manage accounts of

different lot sizes..

[09:25:31 07/11/08] Stalion : soo,what size lot are you thinking of using or have

used???Remember risk mgt?

[09:25:55 07/11/08] Maximus : mini lots...

[09:29:51 07/11/08] Stalion : okay....we tend to have up to 3 targets...sometimes,4 to

5....Max..The way we handle it is to allocate percentages or fractions to our minilots when

target is hit or after 20 pips ahead

[09:31:14 07/11/08] Stalion : if using 1 minilot,you can take 0.5 off when +20 pips ahead or

when reaching 1st target....if using 3 minilots, you can shave off half or 1/3third as price

goes along...

[09:32:57 07/11/08] fxjedi : gm all

[09:33:22 07/11/08] Maximus : ok thx for that...

[09:33:34 07/11/08] Stalion : helloo there jedi...

[09:34:41 07/11/08] fxjedi : hi stal, thanks for yesteday,+60 pips on cable was okay for me,

[09:35:56 07/11/08] Stalion : cool....it was supposed to be 120 pips or so...but we were

stopped out for 60 pips earlier in the morning

[09:41:30 07/11/08] Maximus : gbpusd is going up...

[09:53:36 07/11/08] fxjedi : buy entry trigered

[09:58:22 07/11/08] Maximus : Everybody in the trade....

[09:58:44 07/11/08] Stalion : you can still enter your buy order,dj...

[10:06:44 07/11/08] Stalion : you can close half positions now, then shift stop loss to

entry point...

[10:07:58 07/11/08] fxjedi : okay

[10:17:32 07/11/08] Maximus : thx Stalion for this nice trade..Smile

[10:18:34 07/11/08] Maximus : do we reenter if stop out..

[10:19:36 07/11/08] Stalion : lol..we are still waiting for price to hit 1st target,max...by

closing half positions at +20 pips, then shifting sl to entry, we ensure we breakeven at a

profit if price retraces against us...

[10:21:09 07/11/08] Stalion : yes, we reenter after the bearish candle shows signs of moving

back up to our original entry...very prudent in these volatile markets nowadays...

[10:21:46 07/11/08] Maximus : thx Stalion...

[10:23:08 07/11/08] Maximus : wich time frame are you looking at for the trade Salion, tf15

[10:24:56 07/11/08] Stalion : 15 min chart,Max...

[10:25:13 07/11/08] Maximus : ok very good...

[10:27:44 07/11/08] fxjedi : 1st target hit

[10:29:03 07/11/08] Stalion : cool....

[10:29:31 07/11/08] Stalion : did you get the chance to reenter at our original price,max?

[10:30:37 07/11/08] Maximus : no, but I am glad with what i had today, I willl get

experience...

[10:30:41 07/11/08] fxjedi : i did as soon as u talked about that bearish candle,stal

[10:31:39 07/11/08] Stalion : you might still get the chance if price retraces downwards

again...

[10:31:55 07/11/08] Maximus : yes thx...

[10:32:34 07/11/08] djcarlos : ok, thanks... so the trend is bullish???

[10:35:11 07/11/08] Maximus : i think the price will come back...

[10:35:15 07/11/08] Stalion : looks like it, max....you can reenter with a buy order @

1.5797....for our 2nd target...

[10:36:28 07/11/08] Stalion : this time, 2nd target is @ 1.5846..

[10:37:08 07/11/08] Maximus : very good

[10:37:25 07/11/08] djcarlos : it work to me to

[10:39:39 07/11/08] Stalion : no probs.....for now, we are on the bullish gbpusd

trade....12pm Nigerian time, we might enter the USDCAD trade...

[10:39:59 07/11/08] djcarlos : cool

[10:40:20 07/11/08] Maximus : i like the usdcad...

[10:41:29 07/11/08] Stalion : lol....cause you are French Canadian?

[10:41:39 07/11/08] djcarlos : I reentered at 1.5795

[10:41:40 07/11/08] Maximus : yap...

[10:41:54 07/11/08] Maximus : me too reenter...

[10:43:58 07/11/08] djcarlos : I ll expecting at 08:00 hrs in chile..... 12pm nigerian time

[10:47:02 07/11/08] Stalion : cool

[10:48:54 07/11/08] Stalion : sl@1.5745

[10:58:19 07/11/08] Stalion : no probs...the thing is its much riskier now, dan when price

was at our original entry....the sl at that point would give more breathing space for price

to move than this present one....hope you understand..

[11:02:28 07/11/08] fxjedi : cable going up now,70 pips ahead now

[11:02:54 07/11/08] Stalion : great....

[11:06:35 07/11/08] fxjedi : original 2nd target hit,stal, at 15825,



[11:07:36 07/11/08] Stalion : cool

[11:07:55 07/11/08] fxjedi : any thid taget?

[11:12:02 07/11/08] Maximus : yes when i reenter i put my target price to 1.5846..

[11:14:31 07/11/08] fxjedi : Fund Selling: that's reason for earlier. eurusd 1.25 as this

has become very sensitive to down with stocks crashing...for BlackFriday

[11:20:23 07/11/08] Stalion : hmmmmm....

[11:22:27 07/11/08] Stalion : Black Friday?

[11:24:42 07/11/08] fxjedi : maybe

[11:25:32 07/11/08] Stalion : Black Friday is mainly for those that dont really know what

they are doing in the markets,jedi..

[11:26:55 07/11/08] Stalion : pls dont get me wrong...nothing is 100% perfect in trading and

no one wins ALL trades ALL the time...but to attribute losses to Black Friday without

trading yet, is more of FEAR induced reaction to a particular day in the market

[13:19:25 07/11/08] djcarlos : I read that GU may had pivot in 1.5710, but here Stalion, so

ask to he..

[13:31:30 07/11/08] djcarlos : Stal sorry about the long of this article but I think that is

important for your usd/cad study

[13:31:34 07/11/08] djcarlos : The Canadian economy actually threw the market a bone today,

it's a miracle! The median market expectation was calling for a 10k loss in jobs, but the

economy instead added 9.5k in October. Keep in mind that we had a monster 106.9k print in

September, so to add more jobs on top of that huge gain was extremely impressive.

[13:46:06 07/11/08] djcarlos : Stal did you see Usd/Chf, it having good selling projetion

[14:44:50 07/11/08] djcarlos : hey! maxim do you have open GU buy Stop?

[14:45:15 07/11/08] djcarlos : it work very good...Thanks Stal cheers

[14:46:40 07/11/08] djcarlos : 60 pips in the bag.. good end for the week

[16:33:30 07/11/08] Stalion : lol....No Black Friday,dj?

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

1.5600...sl@ 1.5715

[20:23:22 07/11/08] klho83 : hi stal thank for the text sms

[21:55:45 07/11/08] djcarlos : thanks for the text sms Stal, who said that today are Black

friday????

[22:06:53 07/11/08] djcarlos : good weekend everyone

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




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



No probs,paul..



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




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

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

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



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...

[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...

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 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..

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..



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

Nice one, jeffsmith, keep it coming..





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

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..






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!




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





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

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

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

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

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

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

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

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

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

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

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

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

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

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





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

This post has been edited by forexgreenland: Nov 21 2008, 02:42 AM