gj reached 146?!!

1.44 now....

1.39 now...

---

Added on October 24, 2008, 5:52 pmanybody that performed shorts today would be jumping for joy

This post has been edited by kelvin_tan: Oct 24 2008, 05:52 PM

LOL, anyone catch the pips? I goonnnna hate it. I was in work. I only manage to get 30pips upon 1400 pips.

---

Added on October 24, 2008, 6:09 pmYa, I short it. But I didn't expect such a high value of drop. Who knews about it.

Now we can see it. GBP is the worse now. EUR still ok, wont die yet.

GJ drop almoz 1400 I guess today. Working working working, then pips running running running

This post has been edited by mphpopular: Oct 24 2008, 06:09 PM

lol... crazy GJ drop.. but if it was against u .. u would cry..

---

Added on October 24, 2008, 7:17 pmi was short on USD/CAD .. and guess what .. i got into deep trouble.. i'm only -10 pips... but the spread suddenly increased to 40 !!!! -.- have to hold it for now..

---

Added on October 24, 2008, 7:51 pmso called attempted carry trade today.. and failed .. lost 100 pips.. T_T super slide down on NZD/USD..

This post has been edited by kelvin_tan: Oct 24 2008, 07:51 PM

I didn't trade much today. The only position closed is open since yesterday.

Now gonna do evaluation again.

And any fundamentalist here? What make GBP such a huge impact? I cant understand it thru TA

---

Added on October 24, 2008, 8:28 pmFor me now, GJ reacch bottom jor. But I need to understand why GBP have such huge drop today in order I didn't catch the wrong trade. Besides,

yesterday EURGBP range area is super nice to scalp. Take more than 30pips from that tight area yesterday + today morning. By EURGBP trend, we can still see GBP still have room to going up which mean lead to weakness of GBP.

If GBP still can continue to weak, then GJ shall going down some more. So thinking is it now the best time to HOLD LONG on GJ?

This post has been edited by mphpopular: Oct 24 2008, 08:28 PM

EJ monthly. EVen now I want to short again. But I have no idea where to short. THE TP of FIBO 61.8 is reach. I have no idea where to enter short again....

Kelvin any clue or charts?


Attached thumbnail(s)

GMT
08:30 AM GBP Gross Domestic Product (QoQ) (3Q A) -0.5% -0.2% 0.0%
GMT
08:30 AM GBP Gross Domestic Product (YoY) (3Q A) 0.3% 0.5% 1.5%
GMT
08:30 AM GBP Index of Services (3Mo3M) (AUG) -0.3% -0.1% -0.1% (R-)

Today GBP has reported lower expectation for GDP data.
Gross Domestic Product (YoY) (3Q A) - Expected was 0.5% but result is 0.3%
Thats why GBP drop so much compared to EUR as it doesn't affect EUR although GBP is belong to EUR union but doesn't join in EURO monetary policy.

@mph
nope no charts.. based on how much the market moved today i'm not trusting any charts.. instead basing it fully on FA .. which is y i short USD/CAD.. OPEC cut the right amount..

---

Added on October 24, 2008, 9:05 pm@mphpopular
Keep in mind that GBP may not have reached the bottom.. they are heading towards recession.. check out todays news.. to me, there is still room to go down.. hwo much i dunno

---

Added on October 24, 2008, 9:23 pmhttp://bloomberg.com/apps/news?pid=20601087&sid=a.40FIAkLyy8&refer=home

here's the link .. if u have time do read it.. may provide a better insight on UK's economy

This post has been edited by kelvin_tan: Oct 24 2008, 09:23 PM

EJ h4 +15m

This post has been edited by mphpopular: Oct 25 2008, 01:04 AM


Attached thumbnail(s)

Latest GJ for me.


Attached thumbnail(s)

GJ adopted. I quite like the reason for it to going down.


Attached thumbnail(s)

wah .. more sifu come here edi ... huhu malu ar .. i keep blowing my account .. .. but luckly did manage to grab usd71.50 yesterday around 3pm-6pm ...

as an intraday trader...i think we should take a look at monthly chart also la..this is what goes into my mind now...(for enhanced my trading style)...when we look it going down..so we must go for more SHORT than BUY...

yah, true. need to analyse what is current long term trend.
I have learned my lesson. really can't trade against the long term trend.
I'm always catching falling knife in m15/m30 chart hoping that it will rebound but alas, the trend against me.
Been losing about 75% of my total paper investment. sob sob..
from USD10K to USD2.5K only now..

slowly... everyone is having bad times in this market..

Agreed. Just people need to learn from their mistakes and improve it in next trading.
Maybe greedy takeover myself and causing such big losses(buy 2 standard lots using 10K fund -> 500:1 leverage. too high risks)
May i know usually all of you using how much of leverage to trade forex?

Does anyone here using automated forex trading?
By using automated trading, i hope can eliminate unnecessary emotions when trading forex coz its too volatile.

as we have discuss before...leverage will not kill ur account...its ur money management....

i dont have EA..as far as i know it will not last long....maybe others can help from it?

i leverage 1:40.. TP = 2.8% of my account.. SL = 1.75% of my account..

Agreed. Money management is most important part in managing the risks associated in forex trading.
In my opinion, leverage is also playing small part in money mgmt. To trade for long run, its better to have low leverage.
Ooo.. there was previous thread for forex beginner? Is it in available in version 1?

Ic..thanks for sharing.