Forex Chart Pattern Recognition technique on the Breakout System

[mystikal]

[09:36:40 17/04/09] Stalion : helloo there, LP....

[09:39:32 17/04/09] Stalion : We put a sell stop on GBPUSD @ 14795...1ST TARGET @

14735...2ND TARGET @ 14665.. STOP LOSS @ 14850...

[09:40:58 17/04/09] Learning_pips : hmm

[09:42:30 17/04/09] Stalion : looks like the CHF report got the swiss pair in an uptrend

frenzy....

[09:43:35 17/04/09] Learning_pips : ok. I am only lookin at gbpusd for now.just one pair is

enough for me to begin with lol

[09:45:26 17/04/09] Stalion : of course, gbpusd might still have some strength for a rally

when the CAD report comes out in a few minutes

[10:06:47 17/04/09] Learning_pips : sell stop got triggered

[10:36:06 17/04/09] Learning_pips : made 35 pips before I did something while putting a

trailing stop and my position got closed by mistae

Stallion, I didnt enter the market on this play however it seems like it was

stopped out. After entry, I have a candle with high tick of 1.4850 which was also the SL.

From the chat log, it seems like learning pips picked up this play and made money. What am

I missing? Thank you,

Hi Paul...hope you are enjoying your weekend?what you might have missed was proper risk

management.. Our sell entry on the cable,last friday, @ 14795 was on the mark at the first

foray, which went to a low of approximately 43 pips downward before reversing back beyond

our initial entry, up to a high of 14850..
Assuming you had entered, you would utilize the risk mgt tool of ''closing out half minilots

when +20 pips ahead, then shifting stop loss to initial entry level''...in this case,

SL=14795=initial sell entry...

By applying that rule, you would have been stopped out at breakeven profit, since you've

already closed out half your position at +20 pips...Remember price made a freefall down to

43 pips or so, to reach a low of 14752, 17 pips shy of our 1st target of 14735..
So its more of a case of good entry but less spectacular finishing/exit, if proper risk

management is not adhered to...like you observed on the log, Learning pips took out 35 pips

or so from the trade, which was enough for him for that day.. also we had like 3

opportunities to go in and out of the trade for 30 or more pips that friday...so it is still

valid till Monday..Hope you understand...

Hello Mystikal,

Please i will like to ask: if a country's interest rate is held ,will it depreciate or

appreciate against other currencies?

Am sorry if ur annoyed with the last question i asked the other time,dont mean any harm.just

trying to learn ok. stay cool.

Onwuka Arisa

Learn from yesterday, live for today, hope for tomorrow. The important thing is not to stop

questioning.
- Albert Einstein

Helloo onwuka, how is it going? No offence taken, mon ami...we all learn at each of our

different levels in life...not just in trading...
To answer your question, we might take a little look at what interest rates mean.. They are

more or less payment for the use of a given sum of money, or its equivalent over a period of

time. Implied in this defination are demand and supply as determinants of market price, in

which price is the rate of interest. Interest is a COST to demanders of funds and an item of

INCOME to suppliers of funds, and the rate of interest influences their entry into a given

market in varying ways and degrees. The rate is stated on the basis of one year(per

annum),even though loans can be made for shorter or longer periods.

You see, the market referred to, is a credit market, in which debt is seen as an obligation

to pay money and credit is the right to recieve money. Such markets bring together borrowers

and lenders(investors), and in them are established and communicated the prices at which

they are willing to make transactions.

The price of credit is an interest rate, and that which is demanded and supplied are credit

or debt instruments, whose primary function is to allow control over money to be

transferred. Suppliers of debt instruments are demanders of funds, and demanders of such

instruments are suppliers of funds, so that in essence, it is the price of these instruments

at a given time which gives the market yield, or rate of interest. Interest rations the

supply of savings, serves as compensation to lenders, helps cover the costs of risks, and

can be used to help stabilize an economy or promote growth.

So onwuka, if a country's interest rate is held, under normal market conditions, it tends to

appreciate against other currencies with relatively lower interest rates. Short term

interest rates are the important factor in currency valuation - traders look at most other

indicators merely to predict how rates will change in the future;thats where we get to the

inflation/unemployment tradeoff.. If a country's Central bank feels inflation is high, they

usually increases interest rates in order to mop up excess liquidity..but that constricts

credit flow for growth and productivity which increases the unemployment rate..
But wait..
if unemployment is the top priority of the government, then interest rates are lowered in

order to increase credit expansion flows in the system so as to enhance employment through

wider growth and productivity...but that tends to increase inflation due to excess

liquidity...a TRADEOFF in the country's kitty..

http://sports.yahoo.com/top/news?slug=ys-rcsbadspenders041509&prov=yhoo&type=lgns

Hi, FxGreenLand

I have read some of your posts dating last October of 2008 and I must say that I'm impressed

with the way you analyze the markets. I would like to request from you, if its possible that

you could share with me your next trading plans on the markets. Since I live in a different

timezone, I don't think I can spot you online so is there a way that I can receive on my

email or on my inbox here in this forum your trading advices on the prevailing market

movements? I would appreciate any help you could extend

By the way, I've been trading for over a year now and my trading is fine but I still haven't

find the right system for me.. maybe you could help since I've found your trading system to

be really good

Kind regards,

Katipunero

Hi katipunero, thanks for your mail...the right trading system is essential for the right

individual...not all size fits all...if you want to take up my services, then you are

free...just send a mail specifying which of them you are interested in, and I'll get back to

you,ok...

The Arabs have an ancient proverb that affirms:
He who knows not, and knows not that he knows not,
is a fool—shun him.
He who knows not, and knows that he knows not,
is a student—teach him.
He who knows, and knows not that he knows, is asleep—wake him.
He who knows, and knows that he knows is wise—follow him.

 

[mystikal]

[09 17/04/09] Stalion : helloo there, LP....

[09 17/04/09] Stalion : We put a sell stop on GBPUSD @ 14795...1ST TARGET @

14735...2ND TARGET @ 14665.. STOP LOSS @ 14850...

FINANCIAL TIMES
"Peripheral care should be the central concern"

By George Soros

The Group of 20 meeting is a make-or-break event. Unless it comes up with practical measures

to support the less developed countries, which are even more vulnerable than the developed

ones, markets are going to suffer another sinking spell just as they did last month when Tim

Geithner, Treasury secretary, failed to produce practical measures to recapitalise the US

banking system.

This crisis is different from all the others since the end of the second world war.

Previously, the authorities got their act together and prevented the financial system from

collapsing. This time, after the failure of Lehman Brothers last September, the system broke

down and was put on artificial life support. Among other measures, both Europe and the US in

effect guaranteed that no other important financial institution would be allowed to fail.

This necessary step had unintended adverse consequences: many other countries, from eastern

Europe to Latin America, Africa and south-east Asia, could not offer similar guarantees. As

a result, capital fled from the periphery to the centre. The flight was abetted by national

financial authorities at the centre who encouraged banks to repatriate their capital. In the

periphery countries, currencies fell, interest rates rose and credit default swap rates

soared. When history is written, it will be recorded that - in contrast to the Great

Depression - protectionism first prevailed in finance rather than trade.

Institutions such as the International Monetary Fund face a novel task: to protect the

periphery countries from a storm created in the developed world. Global institutions are

used to dealing with governments; now they must deal with the collapse of the private

sector. If they fail to do so, the periphery economies will suffer even more than those at

the centre, because they are poorer and more dependent on commodities than the developed

world. They also face $1,440bn (€1,060bn, £994bn) of bank loans coming due in 2009. These

loans cannot be rolled over without international aid.

Gordon Brown, the UK prime minister, recognised the problem and designated the G20 meeting

to address it. Yet profound attitudinal differences have surfaced, particularly between the

US and Germany. The US has recognised that the collapse of credit in the private sector can

be reversed only by using the credit of the state to the full. Germany, traumatised by the

memory of hyperinflation in the 1920s, is reluctant to sow the seeds of future inflation by

incurring too much debt. Both positions are firmly held. The controversy threatens to

disrupt the meeting.

Yet it should be possible to find common ground. Instead of setting a universal target of 2

per cent of gross domestic product for stimulus packages, it is enough to agree that the

periphery countries need aid to protect their financial systems. This is in the common

interest. If the periphery economies are allowed to collapse, the developed countries will

also be hurt.

As things stand, the G20 meeting will produce some concrete results: the resources of the

IMF are likely to be doubled, mainly by using the mechanism of the "new arrangements to

borrow", which can be activated without resolving the vexed question of reapportioning

voting rights.

This will be sufficient to enable the IMF to help specific countries at risk but it will not

provide a systemic solution for the less developed countries. Such a solution is readily

available in the form of special drawing rights. SDRs are complex but they boil down to the

international creation of money. Countries that can create their own money do not need them

but periphery countries do. The rich countries should therefore lend their allocations to

the nations in need.

Recipient countries would pay the IMF interest at a very low rate, equivalent to the

composite average treasury bill rate of all convertible currencies. They would have free use

of their own allocations but would be supervised in how the borrowed allocations were used

to ensure they were well spent.

In addition to the one-time increase in the IMF's resources, there ought to be a big annual

issue of SDRs, of say $250bn, as long as the recession lasts. It is too late to use the

April 2 G20 meeting to agree this, but if it were raised by President Barack Obama and

endorsed by others, this would be sufficient to give heart to the markets and turn the

meeting into a resounding success.

[08:47:01 21/04/09] Stalion : helloo there

[08:51:02 21/04/09] Stalion : we are seeing a 123 bottom on the GBPUSD 15 minute chart, so

standing by for a bullish move

[08:53:20 21/04/09] Learning_pips : cool

[08:54:49 21/04/09] Learning_pips : news also coming out today

[09:02:51 21/04/09] Stalion : we put a buy stop on GBPUSD @ 1.4574...1st target @

1.4613...2nd target @ 1.4645...stop loss @ 1.4510..

[09:03:08 21/04/09] fxjedi : hi stal

[09:05:15 21/04/09] Learning_pips : ok

[09:35:58 21/04/09] Learning_pips : stal the news came out a little better than expected

[09:36:54 21/04/09] Learning_pips : ok buy stop triggered

[09:36:56 21/04/09] Learning_pips : we are in

[09:48:42 21/04/09] Learning_pips : price is hesitating

[09:59:21 21/04/09] Stalion : cool

[10:04:11 21/04/09] Learning_pips : looks like we r on our way

[10:07:16 21/04/09] Learning_pips : closed 1 lot with 25pips and moved SL to breakeven

[10:15:54 21/04/09] Learning_pips : ok second lot stopped out

[10:21:47 21/04/09] Learning_pips : hey paul..did u pick up the last trade

[10:29:00 21/04/09] Learning_pips : stal I have a question around this call, did u pick it

up off the 15min chart or the 4hr chart?

[10:32:10 21/04/09] Stalion : good work, LP

[10:34:08 21/04/09] Learning_pips : thnx

[10:34:59 21/04/09] Stalion : but how come u were stopped out on ur 2nd lot wen SL is

supposed to be around 14510...

[10:35:59 21/04/09] Learning_pips : no actually I moved second lot to entry point

[10:36:56 21/04/09] Learning_pips : but then after that candle with the long upper shadow I

entered again on the next candle

[10:37:53 21/04/09] fxjedi : am up 30 pips,stal

[10:38:24 21/04/09] Stalion : cool...your learning well...

[10:38:40 21/04/09] Stalion : the call was taken off the 15 min chart..
[
[10:58:11 21/04/09] fxjedi : ok

 

[mystikal]

[09:02:51 21/04/09] Stalion : we put a buy stop on GBPUSD @ 1.4574...1st target @

1.4613...2nd target @ 1.4645...stop loss @ 1.4510..
[09:03:08 21/04/09] fxjedi : hi stal

[20:59:09 21/04/09] Stalion : hi paul

[20:59:50 21/04/09] Stalion : do we trade da retracement?

[21:00:56 21/04/09] Stalion : sell 1.4662..1st target @ 1.4615...2nd target @ 1.4560

[21:01:31 21/04/09] Stalion : stop loss @ 1.4710

[22:57:24 21/04/09] Paulfx : hi stallion, did you get my email?

[23:31:44 21/04/09] Paulfx : my question was regarding how you are calculating retracement

[23:32:02 21/04/09] Paulfx : on the call you posted not too long ago

[10:07:47 22/04/09] Stalion : helloo Paul...

[10:09:56 22/04/09] Stalion : total of about 102 pips made to 2nd target around the early

hours of this morning

[10:11:38 22/04/09] Learning_pips : hi stal

[10:19:46 22/04/09] Stalion : helloo LP....

[10:24:11 22/04/09] Learning_pips : I see so if the price moves the opp direction and then

moves agian in the direction of the call we are supposed to re-enter??

[10:27:00 22/04/09] Stalion : more often than not, LP...it depends...if the charts show its

a high probability thing, we reenter..

[10:28:36 22/04/09] Stalion : there are also times where you reenter but get stopped out

again and again..most times, it coz price is trying to shake off the weak hands with as few
traders to its target...

[10:28:39 22/04/09] Learning_pips : cool

[10:29:22 22/04/09] Stalion : while most times, we are just simply wrong..maybe due to range

consolidation

[10:29:41 22/04/09] Learning_pips : hmm

[10:29:44 22/04/09] Stalion : or some other technical/fundamental reason

[10:30:23 22/04/09] Learning_pips : because I have often seen the calls are absolutely spot

on targets but sometimes its the timing thats different

[10:30:41 22/04/09] Learning_pips : I am talking about my own calls

[10:31:06 22/04/09] Learning_pips : sometimes even urs too

[10:32:07 22/04/09] Stalion : wrong timing....wrong entries....

[10:32:45 22/04/09] Stalion : right timing, right entries

[10:32:53 22/04/09] Learning_pips : hmm

[10:34:44 22/04/09] Learning_pips : i still have some understanding on levels and price but

timing wise not that good

[10:35:44 22/04/09] Learning_pips : hammer on 15min gbpusd around last support area

[10:44:20 22/04/09] Learning_pips : stal i hv entered buy with a stop on the hammers low

[10:44:45 22/04/09] Stalion : buy stop on GBPUSD @ 1.4575..1st target @ 14595..2nd target @

14609,,,


[10:46:49 22/04/09] Stalion : sl @ 1.4521

[10:55:54 22/04/09] Paulfx : stal great call i was in it but didnt get alll the pips...

still ok took profit and no sl

[10:56:03 22/04/09] Paulfx : morning lp

[10:58:27 22/04/09] Learning_pips : hw s it goin

[10:59:39 22/04/09] Stalion : helloo Paul...

[10:59:44 22/04/09] Paulfx : its always great in the land of profits

[11:00:10 22/04/09] Stalion : am preparing a response to your question for general

edification...

[11:00:37 22/04/09] Paulfx : ok thank you! young grasshopper eager to learn!

[11:01:05 22/04/09] Stalion : Greenland...the Land of Profits...nice connotation, Paul...

[11:01:53 22/04/09] Stalion : the time of profits or success is when ur most

vulnerable....you can fall if no proper risk mgt

[11:02:18 22/04/09] Stalion : and overconfidence

[11:02:36 22/04/09] Paulfx : yes it is- fear and greed

[11:03:07 22/04/09] Stalion : hmmmm...

[11:09:13 22/04/09] Paulfx : i was asleep to reenter for that gbp call last night, would

have been another good play but like you and LP were talking about earlier could have been

stopped out

[11:15:03 22/04/09] Paulfx : would it be wise to make a play on the retracement?

[11:15:04 22/04/09] Stalion : maybe you could trying pulling the trigger, then ask some

incisive questions later...got ur question thru pm less than an hour after sending the

gbpusd call last night...the opportunity lay waiting for hrs before finally going down

around 0300 GMT....you had time ,Paul...but you hesistated

[11:16:03 22/04/09] Learning_pips : second target reached

[11:16:09 22/04/09] Paulfx : ok... wow... obviously not!

[11:16:31 22/04/09] Paulfx : now that is what i call momentum!

[11:16:43 22/04/09] Stalion : 1st target hit....@ 14595....current price now 1.4610

[11:16:47 22/04/09] Learning_pips : wow it was so quick

[11:17:15 22/04/09] Stalion : dats intraday trading for you, Paul

[11:17:25 22/04/09] Stalion : did you enter?

[11:17:28 22/04/09] Learning_pips : i closed out with 33pips

[11:18:40 22/04/09] Paulfx : yes

[11:19:28 22/04/09] Stalion : cool

How are you basing the retracement? I am looking on the hour chart and

seeing a low of 1.4466 04/21 00:00h and a high of 1.4707 04/21 16:00h. Are those figures

correct? Also, are we looking to retrace to what level? 60% 1.4614 about? Thank

you,

Helloo Paul, I assume you are taking about the GBPSD call made in the early hours of the

morning..Those first set of figures are correct, in a way...but you need to go back a step

further...Since you seem like more of a system trader,I'll try and make some exposition

using fibonnacci retracements on the charts..back a step further,around 17/4/09, to a low at

21/4...That is the 1st step...

The 2nd step is down below, where am replying fahd..

Hi everybody,
According to the signal today, GBP/USD had to go up 40 pips in case of a UK's claimant count

change of 99k or lower. However, the very opposit just occured as GBP/USD went down by more

than 50 pips at the count of 73.7k
Can anybody explain to me what i am missing here!

Helloo fahd, maybe we might make a prognosis of what you are missing here..Hi Felix, hope

you dont mind if I answer him...just a symphony of events that flows like an epiphany..

UK Claimants count report that came out around 4.30 a.m this Wednesday morning,is the change

in the number of people claiming unemployment-related benefits during the previous

month..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..So it's the first indication of the employment situation,

released a month earlier than the Unemployment Rate...

The previous change was 136.6k (revised), while economists are forecasting 118k ...but the

actual result turned about to be 73.3k..

To cut long story short, the market has already discount that piece of

information..Normally, if the ACTUAL was less than the EXPECTED,it is good for the

currency...In this case, technical wise, price had to fulfill the 60% window before rocketed

upwards, according to fundamentals..That downward retracement was observed from,''on da

retracement''


[21:00:56 21/04/09] Stalion : sell 1.4662..1st target @ 1.4615...2nd target @ 1.4560

[21:01:31 21/04/09] Stalion : stop loss @ 1.4710


Now GBPUSD ressurrects...figuratively..

That, mon ami...is ze 2nd step..

Sayonara..

 

[mystikal]

hmmmmmmmmm...

 

[mystikal]

[12:14:00 22/04/09] Stalion : sell stop on GBPUSD @ 14600...1st target @ 14565..2nd target@

14545...

[12:14:14 22/04/09] Stalion : sl @ 14650

[12:26:07 22/04/09] Paulfx : so we just looking for retracement down to 60% on this play?

[12:34:20 22/04/09] Stalion : dis is not a game

[12:38:03 22/04/09] Stalion : yes...

[12:38:39 22/04/09] Stalion : along with other patterns to confirm it....

[12:39:13 22/04/09] Stalion : no indicator is standalone...it shud be merged in confluence

for optimal effect

[12:39:50 22/04/09] Paulfx : perhaps wrong choice of words for me stal, no games here.

[12:41:30 22/04/09] Stalion : yep....trading is a business and shud be treated as such...

[12:42:43 22/04/09] Paulfx : i agree, have to be careful how we say things as the mind will

soon start believing

[13:25:51 22/04/09] Paulfx : WOW!

[13:27:21 22/04/09] Stalion : WOW!!

[13:27:31 22/04/09] Paulfx : stalion you truely are a master of forex

[13:27:48 22/04/09] Stalion : I didnt get ANY chance to put a trailing stop

[13:28:31 22/04/09] Stalion : did u see dat, LP?

[13:28:37 22/04/09] Learning_pips : WOW!!!

http://i62.servimg.com/u/f62/11/82/15/01/wow11.gif


[13:28:38 22/04/09] Paulfx : when the price went above previous high I wast sure if there

was still a play, took me a second to pull the trigger at 1.4600

[13:28:42 22/04/09] Stalion : NO CHANCE AT ALL?????

[13:28:43 22/04/09] Learning_pips : i saw and missed

[13:28:57 22/04/09] Paulfx : I was in

[13:29:06 22/04/09] Learning_pips : i just logged in after a meeting

[13:29:17 22/04/09] Learning_pips : but frankly speaking stal no regrets

[13:29:55 22/04/09] Learning_pips : I am extremely content today after how close I was on

both my calls to stals

[13:30:15 22/04/09] Learning_pips : thats like the biggest reward for me..

[13:30:56 22/04/09] Stalion : 105 pips on 3 minilots were made....I didnt get any chance to

fix a trailing stop...price just went EL DROPPO...EL PLUNKO...

[13:31:39 22/04/09] Paulfx : we like EL PLUNKO

[13:32:05 22/04/09] Learning_pips : guys i just entered...lol

[13:32:06 22/04/09] Stalion : brb

[13:32:16 22/04/09] Paulfx : from what I see on the charts I would say it will going

[13:32:28 22/04/09] Learning_pips : its till going

[13:33:00 22/04/09] Paulfx : this is probably one of the craziest drops i've seen and traded

[13:33:28 22/04/09] Learning_pips : haha im 25 pips up

[13:33:34 22/04/09] Paulfx : down it goes

[13:33:38 22/04/09] Learning_pips : 40
[
13:35:17 22/04/09] Paulfx : next stop 1.4435?

[13:35:57 22/04/09] Learning_pips : ok made 50pips on the last candle



[21:19:00 23/04/09] Stalion :For thursday evening,We can put a sell stop on GBPUSD@ 14720..

1st target @ 14670..2nd target @ 14605...3rd target @ 14555...50 pips sl..



http://i62.servimg.com/u/f62/11/82/15/01/wow210.gif

 

[mystikal]

[12:14:00 22/04/09] Stalion : sell stop on GBPUSD @ 14600...1st target @ 14565..2nd target@ 14545...
[12:14:14 22/04/09] Stalion : sl @ 14650

Satlion, I made a trade today and got stopped out. Shorted GBPUSD time

16:33 GMT@ 1.4620 SL 1.4650 looking at either a major retracement or even trend reversal.

From my charts it looked like it was a solid trade on my part. This last call you posted

seems similar to mine with different resistance levels. Was mine just a bad trade or did

the market go against the charts? How is your trade better than mine? Thank you for your

response.

Greetings, Paul..from your chart above, we can do some prognosis and have some ideas in the

process...
First,from your 1 hour chart, we can see a 1-2-3 bottom, which in forex, involves a reversal

signal that gives us a clue that the bearish(downtrend) movement is turning around into a

bullish (uptrend) movement.. The break of the 2 level triggers the upward movement..but you

were in the middle of it, @ 1.4620..tsk tsk tsk... 1.4620 was supposed to be applied as a

BUY STOP, so as to catch the bullish drive..

And the way you placed your fibonnacci lines were distorted..like putting the cart before

the horse.. The fibonnaci drawn below at the replica of your chart that was sent in, was

what you should have plotted and waited for price to move convincingly downward.. All

candles preceeeding the 1.4620 bar were bullish candles, except a bearish candle and a cross

on the 5 min chart.so bullish momemtum was still strong...
It is maybe when price has shown exhaustion signs like falling prices in a row leading to

bearish candles,that you would commence the 2ndstep.... That would've entailed you drawing

your fibs from the most recent high to your most recent low..
ohh,before I forget, MACD was still above the 0.0 equilibrium line, which is also price way

of saying ''I'M STILL OVERBOUGHTAND MOMENTUM DOESNT LOOK LIKE ITS EASING VERY SOON"...
What else?
hmmmm....
By applying the CHART PATTERN PROJECTION STRATEGY, you would have sensed, to a considerable

extent , that price is reversing upward on the 123 bottom, THEN calculating your target

point or where you want to exit the trade.

1.4573-1.4446=0.0127

1.4585+0.0127=1.4712(target point)


Price made a high of 1.4743 that Wednesday,more than 30 pips above our target point of

1.4712..You would've known where you were exiting,BEFORE entering the trade..you missed 92

pips for triggering the wrong order. Ohh, and your stop loss, an integral part of risk

management, is too tight at 30 pips..

Hope you understand

[quote author=Vickywebworld link=topic=981.msg5646#msg5646 date=1240675879]
Welcome ForexGreenLand! Your write up really shows that you are a forex guru. We will look

forward to getting more of such wonderful lectures from you.

Thanks and answer my question?

Can one really make money by trading forex? Personally, I see it as more of a gambling

business. You make money today and lose money tomorrow. Is it really a gambling business?[/quote]


Helloo Vickywebworld, thanks for your welcome..
When you enter any business without proper knowledge of its operations and strategies, you

are gambling.. if you reduced any activity to a mere game of chance, without bothering to

apply skills, knowledge and discipline to it, is gambling..if you are trading with no risk

management,mental/manual stop loss, and no strategy, then you are just playing Russian

roulette..
Trading is not lotto..heads or tails..mini..mini...maini..moo..or you get an addictive motto

in a grotto..You must understand the individuals that make forex a gambling business to

themselves, are the 80% that lose. It is more of the person than the strategy...The 20% that

win DONT take it as a gambling because they treat it as a business...income, costs,

revenue,etc..
So you have choices...either learn and practise well before trading and succeeed, or gamble

your earnings today n tommorrow cause you dont bother to make the necessary sacrifice to

win..your mindset determines how you take it...
As you follow this thread, you might find out for yourself, mon ami...Please feel free to

ask questions or make comments



On Sunday/Monday opening of the Asian session, if you check your GPUSD charts, price is

currently at 14677..
[19:28:11 24/04/09] Stalion : okay....we put a buy stop @ 14680..1st target @ 14715...2nd

target @ 1.4745
[19:29:28 24/04/09] Stalion : sl @ 14645

Where we at, when we trading forex in a pronto, swimming in pips pool like

breaststrokes..next stroke, net stroke was the best stroke..best stroke turn on down deep

throath..

 

[mystikal]

[23:36:56 24/05/09] Stalion : hipaul

[23:39:16 24/05/09] Stalion : put buy stop on USDCHF @ 10850..1ST T @ 10870..2nd t @ 10895..sl @ 10805

[23:40:18 24/05/09] Stalion : also a 25 pip trailing stop after before reaching 3rd target

[23:42:13 24/05/09] Paulfx : hello stalion

[23:54:20 24/05/09] Stalion : got ur reply....thanks

[23:56:45 24/05/09] Paulfx : ok good - back to "pipping" then Smile

[00:00:11 25/05/09] Stalion : sell stop on GBPUSD @ 15890..1st t @ 15865...2nd t @ 15826..sl @ 15925

[00:01:22 25/05/09] Stalion : dere was a bearish gap on the swiss....

 

[onwukarisa]

Hello Stallion,

Please i will like to ask : does all this stock stuff I hear on CNN and other news channels also affect forex markets, things like XETRA DAX, DOW and the likes. if yes,how do they.

Onwuka Arisa

 

[mystikal]

[23:36:56 24/05/09] Stalion : hipaul

[23:39:16 24/05/09] Stalion : put buy stop on USDCHF @ 10850..1ST T @ 10870..2nd t @ 10895..sl @ 10805

[00:00:11 25/05/09] Stalion : sell stop on GBPUSD @ 15890..1st t @ 15865...2nd t @ 15826..sl @ 15925

[00:01:22 25/05/09] Stalion : dere was a bearish gap on the swiss....

.

Hello Stallion,

Please i will like to ask : does all this stock stuff I hear on CNN and other news channels also affect forex markets, things like XETRA DAX, DOW and the likes. if yes,how do they.

Onwuka Arisa
***************



If we compare the US Dollar Index (USDX), an index that tracks the value of the U.S. dollar against six other major currencies, and the value of the Dow Jones Industrial Average (DJIA), Nasdaq and S&P 500 over a 20-year period, the correlation coefficient calculated for the USDX versus the DJIA, Nasdaq and S&P 500, is 0.35, 0.39 and 0.38, respectively. Note that all of the coefficients are positive, which means that as the value of the U.S. dollar increases, so do the stock indexes, but only by a certain amount. Notice also that each coefficient is below 0.4, which means that only about 35% to 40% of the stock indexes' movements are associated with the movement of the U.S. dollar.

A country’s currency can become more valuable in relation to the rest of the world in two main ways: when the amount of currency units available in the world market place is reduced (for example, when the Fed increases interest rates and causes a reduction in spending), or by an increase in the demand for that particular currency. The fact that an increase in the U.S. dollar affects the value of American stocks seems natural, as U.S. dollars are needed to purchase stocks.

The value of American stocks, especially those that are included in market indexes, tend to increase along with the demand for U.S. dollars - in other words, they are positively correlated. One possible explanation for this relationship is foreign investment. As more and more investors put their money in U.S. equities, they are required to first buy U.S. dollars, which can be used to purchase American stocks, causing the indexes to increase in value.

What is the correlation between American stock prices and the value of the U.S. dollar?



Trader, I told ya...do too much, you lose too much...step on fear and they boo too much..guess you kinda greedy so you dont move too much..me lose ma touch? never that!..if I can, it aint no problem..for ma kitty kats...where ma true traders at..throw your laptops in the sky...wave em side to side...keep your arms high, while I give your trades the Eye..brokers pleease...lyricallyyyy...be released...Stallion D,be flossing in, on the covers of Fortune...500..is the phone...demand..got the dough...got the flow..got to go down pleasant...platinum plus, like 3 sacks...take the plunge like Yitzack..The U.S Cossack

Helloo stallion,am having some problems trading the london session,for some reason ,my wife is on heat during period n wants some loving.hardly any work done n by the time we are through,no strength left for trading.what to do?thanks.

awww,shucks....poor gidado...you got a real dilemma there...for the record I'm not a relationship expert and tend to steer clear from the battle of the sexes..that said, you might consider communicating with her on the sensitivity of your work..any distractions doesnt bring profits..no profits..less vacations,perks and all...also try working out a roster for 'that',which doesnt include London sessions...That doesnt work,try family counselling....

Buy stop,this friday on USDJPY @ 95.75...1st target @ 96.20...2nd target @ 96.45...sl @ 95.20...

Also for hedging purposes, a sell stop on USDJPY @ 95.15...1st target @ 94.70..2nd target @ 94.25..stop loss @ 95.65

 

[mystikal]

[09:25:27 01/06/09] Stalion : Helloo folks, our USDJPY sell order triggered on Monday and

filled up to our 1st target @ 94.70...

Condolences to Iron Mike Tyson,and everyone that had lost their loved ones..who lost his

beautiful daughter last week....May the Good Lord give you the strength to bear the loss and

may the Holy Ghost comfort you and the family during and after this dark period in your

lives...May her gentle soul rest in peace...


Abdul Ade
May 31 at 11:28am
Thanks 4 d add....I was rili impreesed wit ur open discussions in the fx group,kip up d nice

job....Wher u @????

Cool,Abdul....I'm a Nigerian in Lagos....thanks for your comments...

Hey ForexGreenland, nice to see you here.

Hey rumpledone, howz it going?....rumpling up the forex markets, aint you? lol...

Sell stop on GBPUSD @ 16580...1st target @ 16495...2nd target @ 16465....sl @ 16650...