forexgreenland

A total of 173 pips haulage was made in the last 72hrs after my intial call. Cable was dropping it like its hot...dropping pips after pips, after pips..



Tsk, tsk, tsk...Like Master Jesus said''O Ye of little faith''..We need to believe more in ourselves and have the confidence to go along with our trading decisions. Your 69 pips was okay, masif...dont be too greedy...173 pips in less than 3 days might not sound too high but we can live with it,right?


Yeah,batangas...cable and other currency pairs are behaving nicely this time, IF you know

where to look and HOW to take advantage of it. Like a Panther, each single move is an accumulation of years of trading experience in which the movement of the 'herd' is already known, to a considerable extent.Timing is everything when you strike.
This is the time for anyone to enter trading, AFTER the proper training. The time when it defies most usual expectations is during NOVEMBER and DECEMBER periods(end-of-year trading), where the big dogs(banks/institutional traders) are jostling for positions. That is when its prudent to take a break from trading.Lots of whipsaws and tearing of stops.

Kuala Lumpur is a very expensive city, just like Lagos, Nigeria.But no refugees here nor
earthquakes. We thank God for everything.

Hi JV,sorry gbpusd has already hit before I could reply...Yes, I used the original T1 and T2 for T2 and T3, SINCE 1.9436 became our first target point.
Cairo, Egypt was okay...quite hot and exotic like the Meditterenean...but since I went there for a traders' exposition, I wasnt really able to soak up the sights and sounds of the Land of the Pharoahs.Maybe next time,I will....

Alas, Brian,no indicators or settings available like mechanical trading. The CHART PATTERN

PROJECTION STRATEGY is a DISCRETIONARY system in which you trade direct from the charts.Actually,most times, MACD is just for fancy.
Like Jesse Livermore, in Reminisces of a Stock Operator,he and other top traders dont use

settings or indicators for they take trading decisions directly from the board ''tick''.Computers, settings or indicators dont even exist during the 1920's but they still made from from the stock markets.
If anyone wants a copy of the cutting edge ebook ,along with ''Trading in the Zone'', please

send an email to stalion@forexgreenland.com or stalionstable@yahoo.com.

Have a happy weekend.

forexgreenland

2.0194-1.9569=0.0625

1.9510-0.0625=1.8885(target point)

Hi Hina, nice call on the cable... There's a Head and Shoulders pattern on the GBPUSD Weekly

chart, which is giving us a minimum target of 1.8885. We can call it the ''Surgical Dissection Of the Left Shoulder''.

Price might still get way down to your target of 1.8518 since it is a lil below the 60% BUY

WINDOW,technical analysiswise. Remember, since this trade is being taken off the weekly(higher term chart), it is logical that it would take more time to get fulfilled. Next week would unfold the mystery...Lets keep our fingers

crossed,shall we?





This is an excerpt from Trading in the Zone by top trading pyschologist, Mark Schwager, who's one of the best in the business. Most traders might be skeptical about market pyschologists by I still believe they have lots to contribute in the trading pyschology realm. Here are his views:



MARKETS MOST FUNDAMENTAL

CHARACTERISTIC

(IT CAN EXPRESS ITSELF IN AN ALMOST INFINITE

COMBINATION OF WAYS )

The market can do virtually anything at any time. This seems obvious

enough, especially for anybody who has experienced a market that

has displayed erratic and volatile price swings. The problem is that all

of us have the tendency to take this characteristic for granted, in ways

that cause us to make the most fundamental trading errors over and

over again. The fact is that if traders really believed that anything

could happen at any time, there would be considerably fewer losers

and more consistent winners.

How do we know that virtually anything can happen? This fact

is easy to establish. All we have to do is dissect the market into its

component parts and look at how the parts operate. The most fundamental

component of any market is its traders. Individual traders act

as a force on prices, making them move by either bidding a price up

or offering it lower.

Why do traders bid a price up or offer it lower? To answer this

question we have to establish the reasons why people trade. There

are many reasons and purposes behind a person s motivation to trade

in any given market. However, for the purposes of this illustration, we

don't have to know all the underlying reasons that compel any individual

trader to act because ultimately they all boil down to one reason

and one purpose: to make money.

We know this because there are only two things a trader can do (buy and sell) and there are only two possible outcomes for every trade (profit or loss).

Therefore, I think we can safely assume that regardless of one's

reasons for trading, the bottom line is that everyone is looking for the

same outcome: Profits. And there are only two ways to create those

profits: Either buy low and sell high, or sell high and buy low.

If we

assume that everyone wants to make money, then there's only one

reason why any trader would bid a price up to the next highest level:

because he believes he can sell whatever he's buying at a higher price

at some point in the future. The same is true for the trader who's willing

to sell something at a price that is less than the last posted price

(offer a market lower). He does it because he believes he can buy

back whatever he's selling at a lower price at some point in the future.

The underlying dynamics of market behavior are quite simple.

Only three primary forces exist in any market: traders who believe

the price is low, traders who believe the price is high, and traders who

are watching and waiting to make up their minds about whether the

price is low or high.

Technically, the third group constitutes a potential

force. The reasons that support any given traders belief that

something is high or low are usually irrelevant, because most people

who trade act in an undisciplined, unorganized, haphazard, and ran-dom manner. So, their reasons wouldn't necessarily help anyone gain

a better understanding of what is going on.

But, understanding what's going on isn't that difficult, if you

remember that all price movement or lack of movement is a function

of the relative balance or imbalance between two primary forces:

traders who believe the price is going up, and traders who believe the

price is going down. If there's balance between the two groups, prices

will stagnate, because each side will absorb the force of the other

side's actions. If there is an imbalance, prices will move in the direction

of the greater force, or the traders who have the stronger convictions

in their beliefs about in what direction the price is going.

Now, I want you to ask yourself, what's going to stop virtually

anything from happening at any time, other than exchange-imposed

limits on price movement. There's nothing to stop the price of an

issue from going as high or low as whatever some trader in the world

believes is possible—if, of course, the trader is willing to act on that

belief. So the range of the market's behavior in its collective form is

limited only by the most extreme beliefs about what is high and what

is low held by any given individual participating in that market. I

think the implications are self-evident: There can be an extreme

diversity of beliefs present in any given market in any given moment,

making virtually anything possible.

When we look at the market from this perspective, it's easy to

see that every potential trader who is willing to express his belief

about the future becomes a market variable. On a more personal

level, this means that it only takes one other trader, anywhere in the

world, to negate the positive potential of your trade. Put another way,

it takes only one other trader to negate what you believe about what

is high or what is low. That's all, only one!

The point is that from our own individual perspective as

observers of the market, anything can happen, and it takes only one

trader to do it. This is the hard, cold reality of trading that only the very

best traders have embraced and accepted with no internal conflict.

How do I know this? Because only the best traders consistently predefine

their risks before entering a trade. Only the best traders cut

their losses without reservation or hesitation when the market tells

them the trade isn't working. And only the best traders have an organized,

systematic, money-management regimen for taking profits when

the market goes in the direction of their trade.

Not predefining your risk, not cutting your losses, or not systematically

taking profits are three of the most common—and usually the

most costly—trading errors you can make. Only the best traders have

eliminated these errors from their trading. At some point in their

careers, they learned to believe without a shred of doubt that anything

can happen, and to always account for what they don't know, for the

unexpected.

The

typical trader doesn't predefine his risk, cut his losses, or systematically

take profits because the typical trader doesn't believe it's necessary.

The only reason why he would believe it isn't necessary is that

he believes he already knows what's going to happen next, based on

what he perceives is happening in any given "now moment." If he

already knows, then there's really no reason to adhere to these principles.

Believing, assuming, or thinking that "he knows" will be the

cause of virtually eveiy trading error he has the potential to make

(with the exception of those errors that are the result of not believing

that he deserves the money).

What the typical trader doesn't realize is that he needs an inner

mechanism, in the form of some powerful beliefs, that virtually compels

him to perceive the market from a perspective that is always

expanding with greater and greater degrees of clarity, and also compels

him always act appropriately, given the psychological conditions

and the nature of price movement. The most effective and functional

trading belief that he can acquire is "anything can happen."

forexgreenland

Helloo folks,
From what we could all observe, the ''dissection of the right shoulder'' of the head and

shoulders pattern yielded a bounty of 387 pips,$387 minilot,$3870 standard lot on our weekly

charts. Actually I was expecting someone to correct the first chart all these while since it was the other way round in the description...
Nevertheless, GBPUSD made a good showing this week and kept the pips raining..
Was it a fluke?No...
Was it a scam? No..
African magic? Nope..

Just medium term/position trading with the Chart Pattern projection Strategy...Traders that took the call last week are congratulating each other while clients are smiling the bank.



fROM sATURDAY LAST WEEK TO WEDNESDAY, 387 PIPS!!

NEED I SAY MORE??

forexgreenland

[11:41:04] boludotun : hiii everyone

[11:45:57] masif1 : hi

[11:48:42] boludotun : hello masif

[11:51:23] masif1 : hi boludotun

[11:55:35] boludotun : masif?

[11:56:53] r2r : hello everybody

[12:00:04] masif1 : yes

[12:30:16] Stalion : hi masif1...helloo r2r

[12:32:10] r2r : hi stallion

[12:32:35] r2r : cable direction unclear at the moment

[12:35:32] Stalion : yea....going on a head and shoulders pattern on the 15min chart...we could see some bearish action if

price moves out of its range

[12:35:37] r2r : gbp/chf looks good for a long

[12:36:58] r2r : usd/jpy bouncing off Fib for a long

[12:37:06] r2r : eur/usd bouncing off fib for a short

[12:41:04] Stalion : cool

[12:42:40] Stalion : patience is a virtue in forex....the thing is not only knowing when to trade but also, when NOT to put

a trade...

[12:45:30] r2r : knowing when not to trade is what has been killing me in the past

[12:48:33] Stalion : yep....fallin into the risk of overtrading is not a cheap prospect,my man

[12:53:03] r2r : not sure where my entry shoud be for gbp/chf

[12:53:16] r2r : think i'll wait for a pullback

[12:57:30] masif1 : hi

[13:05:51] Stalion : helloo

[13:14:14] Stalion : gbpchf is trying to break the 60% sound barriern of 2.0506, after it does we should be seeing a

reversal down to a 1st target of 2.0456

[13:20:42] masif1 : so gbpchf?

[13:22:51] r2r : hmm well in that case I will watch and wait to see what happens

[13:26:38] Stalion : yes....lets see it move up to 2.0525 first

[13:35:52] masif1 : what is the stop loss for the gbp/chf?

[13:36:41] masif1 : just entered on the demo account gbp/usd

[13:36:56] masif1 : and starting to go into profit ;-)

[13:37:29] masif1 : where should i place the stop loss ofr the gbp/usd?

[13:54:00] Stalion : we are still waiting for authentic signals to be generated by the market, tundope...rather than jumping

in and losing money unnecessarily...lets say we are ''testing the waters'', so to speak...for now, it would only b pending

orders to confirm price bias

[13:55:37] Stalion : so for the gbpusd, we are seeing a head and shoulders pattern on the 15min chart, in which it

portends a bearish downward move..

[13:55:58] tundope : k

[13:58:03] Stalion : gbpchf just breached our high of 2.0525...

[13:59:08] tundope : so u trade gbp/chf, dats too volatile for my liking

[14:01:34] masif1 : hi guys

[14:03:23] masif1 : i acted on the paper trading account for the gbp/chf

[14:05:06] Stalion : here, we wait with patience...besides, mondays are notorious for slow trading

[14:10:30] Stalion : so, for the gbpusd, we put a sell stop @ 1.8650, 1st target @ 1.8601, 2nd target @ 1.8576, stop

loss 40 pips ahead

[14:11:54] r2r : the panther strikes!

[14:14:35] Stalion : not yet, mon ami....until our sell stop gets triggered....

[14:18:41] Stalion : nothing newsworthy dis week, dats why dere's little momentum in the market

[14:21:57] r2r : gbp/chf starting a retrace like you said it would

[14:26:16] Stalion : going down with a vengeance...hope it keeps it up to 2.0456

[14:53:48] r2r : ok gbp/chf rebound. I am inclined to think the downtrend is broken

[16:30:26] masif1 : hi emzee

[17:57:37] masif1 : hi

[18:29:20] Stalion : hi kilo83

[18:32:16] r2r : well stopped out of the cable short



[18:32:28] r2r : wait for the ranging to stop

[18:37:09] Stalion : our gbpchf call went down to 2.0456 after making a high above 2.0225 as predicted...gbpusd wasnt followed up so we scratch dat off...anyone took d gbpchf trade?




[18:39:08] r2r : nope - watching and learning

[18:40:01] Stalion : okay.,....

[18:44:07] Stalion : the 231 pips made from d gbpchf call more than covered up for the cable's 40 pips loss...so 191 pips

net was made...

[18:44:29] r2r : ouch

[18:45:58] r2r : a high above 20525

[18:46:31] Stalion : ??????

[18:46:59] r2r : gbp chf didnt make a high of 20225?

[18:48:03] Stalion : gbpchf made a high of 2.0530 before going down to 2.0225

[18:48:50] Stalion : around 8.45 a.m EST

[18:49:47] r2r : before going down to 20456

[18:49:51] Stalion : what broker are u using, r2r?

[18:50:28] r2r : just spreadbetting

[18:50:31] Stalion : yes....2.0456

[18:50:32] r2r : ig indewx

[18:50:46] r2r : this netted 69 pips

[18:50:57] Stalion : dats nice....

[18:51:27] Stalion :

[18:51:29] r2r : unfortunately i didnt take the sell signal

[19:03:27] Stalion : no probs...tommorrow is another day...

forexgreenland

[10:57:32] caprica1 : morning guys.

[10:57:42] bros1234 : welco caprica

[11:01:04] Stalion : [10:43:13] Stalion : [10:25:19] Stalion : so, we buy gbpusd @ 1.8574,for a 1st target of 1.8616 and a 2nd target of 1.8641

[11:01:38] Stalion : 1.8574...not 1.9574

[11:03:12] tundope : hi bros

[11:03:37] bros1234 : hi tundope

[11:04:17] bros1234 : i was wondering if stallion can tell us reason for the buy

[11:05:33] caprica1 : I've just tried t oplace an order on my demo account, and it keeps saying off orders. What does that mean?

[11:05:53] bros1234 : maket has passed that price

[11:06:25] Stalion : nothing to be confused about, caprica...as at the time of my writing, price on the gbpusd was at 1.8574..but I wrote it out as 1.9574...dats where d typo came from...but by checking ur charts at dat time, u wud've known what we were talking about

[11:07:49] r2r : stalion are we waiting for price to retrace below 1.9574 before putting in the buy order?

[11:09:16] bros1234 : fxdd price 18584 so not a bad buy based on his target

[11:09:32] caprica1 : the ask price is now 1.8577. I should still be able to place a buy order with a 1st target at 1.8616 though no?

[11:12:54] Stalion : not a bad buy, as long as its okay with your risk to reward ratio...and placing ur stop loss would be below the low or support area...

[11:13:57] bros1234 : Stalion...sorry to bother u...any reason for this buy...technical...am curious

[11:14:28] Stalion : dats like 40 pips or so....

[11:17:18] Stalion : yes,bros1234....we hit the 60% sound barrier early this morning, and chances are price tendsto reverse around that area and form a new trend...

[11:19:21] bros1234 : Stalion...i was thinkin the major trend is down though oversold and i saw a 123 pattern on the 1 hr so me thinks it might still break that barriar and cret a new low...but thank i will be watchin from here

[11:22:38] Stalion : no probs....we sit back and watch....

[11:23:11] Stalion : where's price now at your broker?

[11:24:57] bros1234 : fxdd...18561...

[11:26:33] caprica1 : GBPUSD now at 1.8559 on my window.

[11:27:02] bros1234 : caprica1...yeah

[11:29:54] Stalion : on the USDCAD, at 1.0648, we would likely see price going up to 1.0695 first...then to 1.0714

[11:29:59] bros1234 : caprica1...sorry...the trend is down so i think...it will change soon but i dont know when...

[11:30:15] caprica1 : my S/L is @ 1.8515

[11:30:50] caprica1 : yeah i know bros1234, all my signals are short. lol

[11:37:03] Stalion : market takes its cue from technicals and the fundamentals just agree - I bet small now that now that everybody sees doom and gloom over EUR and GBP - they might reboud..

[11:37:29] masif1 : caprica - is that your stop loss on gbpusd at 1.8515

[11:37:54] masif1 : how did you come to this?

[11:38:11] caprica1 : yeah thats the s/l masif1

[11:41:41] fxjedi : hi all

[11:47:35] fxjedi : several highly automated and sophisticated alghoritmic funds lost huge somes this round... most not planning to pay out any redemption to investors this year... list is quite long and goes to the core of the more sophisticated pfolios built in wall street

[11:58:05] fxjedi : Dovish BOE To Push GBP Even Lower - BNPP 0833 GMT [Dow Jones] Following dovish comments from the BOE's Tim Besley, while UK recession fears grow, the GBP is likely to fall further against the USD and EUR, says BNP Paribas. "GBP/USD is likely to break

[11:58:33] fxjedi : through the recent lows at 1.8520, to open downside potential into the 1.82/1.18185 area," the bank says.

[11:59:00] tundope : lol

[12:05:49] r2r : attempt to move prices lower so the bank can buy?

[12:06:20] boludotun : hi everybody

[12:30:14] fxjedi : looks cable is going higher

[12:37:36] fxjedi : going higher!

[12:37:54] bros1234 : yes

[12:38:12] bros1234 : 18616 now

[12:38:39] masif1 : just hit our first target!




[12:41:13] eugen3000 : did you move sl to be when 1st target hit? or just leave to hit sl or 2nd target?

[12:48:59] Stalion : yes, masif....1st target hit....42 pips in less than 2 hours...

[12:49:23] Stalion : $42 minilot,$420 standard lot on the gbpusd live call

[12:50:02] eugen3000 : Stalion could you please answer my question? thnx

[12:50:31] Stalion : we take the rest minilot on the 2nd target...move stop loss 20 pips above initial stop loss

[12:51:36] fxjedi : cable at 18626 and advancing, stallion

[12:53:03] eugen3000 : thank you

[12:58:16] masif1 : 2nd target is getting close

[13:09:58] Stalion : so, remember guys, as our first target have been hit, we place our stop loss at our initial entry point and let d rest of the lots run on our second target..that way, we lock in profits on our first target and worse case scenario, we breakeven if our 2nd

[13:14:41] Stalion : target doesnt get hit

[13:14:44] fxjedi : very smart move, stallion

[13:21:33] Stalion : eugen, since the first target has been hit, we put our stop loss at our initial entry point so as to breakeven, IF price doesnt get to our 2nd target point...its jus a way traders insure against going back to losses when they are in profits...anything can

[13:22:22] eugen3000 : yes i understand, i just asked, because you said before this: [10:50:31] Stalion : we take the rest minilot on the 2nd target...move stop loss 20 pips above initial stop loss

[13:25:03] Stalion : happen, u know...we've all experienced where we see our paper profits going higher but price retraces and eats up those potential profits...thats why we lock in at our initial entry point..

[13:29:03] Stalion : of course...that was based on the prevailing market conditions as at then...

[13:38:01] albashir : hello room

[13:38:28] albashir : wats on the market for today

[13:40:23] fxjedi : i think stallion was saying first step was to go up 20 pips above sl, then second step to cover stop loss at inital entry point.,

[13:44:04] albashir : wats the entry point or was he talking on news entry or making use of some indicators??

[13:44:36] albashir :

[13:45:32] albashir : ..jedi, u still dey?

[13:48:57] anddy26 : good day folks...do you have a fixed set of pairs you deal with or just the ones that show the signals

[13:49:54] Stalion : hi albashir, anddy26...

[13:50:26] Stalion : Not predefining your risk, not cutting your losses, or not systematically

[13:50:49] Stalion : taking profits are three of the most common—and usually the

[13:50:54] albashir : hey, Baba... isaw u were away then logged off... was just asking wat the info for today is all about

[13:51:01] Stalion : most costly—trading errors you can make

[13:51:52] albashir : ok... got it & noted!

[13:53:28] r2r : usd/cad beginning to take off like u said Stalion

[13:53:41] anddy26 : hi stallion Masif has told me to check you guys out..ur doing better than our system.lol..we we trade EOD usualy

[13:54:48] albashir : r2r, wats d info on UCAD

[13:56:40] albashir : Stalion wats d trading plan on UCAD

[13:57:07] r2r : scroll up and read

[14:00:04] Stalion : [11:29:54] Stalion : on the USDCAD, at 1.0648, we would likely see price going up to 1.0695 first...then to 1.0714

[14:03:32] r2r : usd/cad chart is sooo messy I dont know how u can read it Stalion

[14:23:46] r2r : price rejection in usd/cad

[14:25:44] Stalion : yes...dats the news dats about to come off the US....seems its negative for usd....so we hold off our buy on the usdcad for now,

[14:28:07] r2r : but the news isnt out yet!

[14:28:27] r2r : are these the ppl in the know moving the price?

[14:36:06] albashir : Stalion does tis mean we close our position on ucad?

[14:38:39] Stalion : from what we could deduce from the news, looks like the PPI was higher than expectations, so its favourable to the dollar

[14:39:10] albashir : so .....

[14:39:21] tundope : yeah u got dat rite

[14:39:34] tundope : its dollar buying time

[14:40:03] Stalion : so we are seeing the dollar going up, while gbpusd is going down due to news

[14:41:43] masif1 : we got dtopped out on the gbp/usd

[14:41:50] masif1 : stopped

[14:42:09] masif1 : therefore we broke even

[14:45:29] Stalion : yep....breakeven on the gbpusd with a first target haul of 47 pips...

[15:01:34] Stalion : usdcad is now going our way

[15:13:51] tundope : 50 pips left to go on the usd cad target

[15:22:49] Stalion : remember guys, in trading, u dont need to go for the home run or risk all in just a single trade...chances are you might be right or wrong...a 40 pip sl,depending on ur equity, gives price some wiggle room to move and confirm whether we r right or wrong..

[15:24:44] r2r : Stalion is it worth looking at usd/jpy 1hr double bottom ?

[15:30:04] Stalion : yep...nothing bad in dat....looks like the usd pairs are in a range...market is busy digesting the news,u know...technical analysiswise, usd pairs are supposed to go down, while pairs like gbpusd are supposed to go up in the short term..but d surprise

[15:32:00] Stalion : favourable news from the US have brought in a state of indecision..so, who would win the fight? technical analysts or news traders? personally, its the camp that puts in the biggest funds to support their bias that is going to win

[15:40:36] albashir : got stopd out

[15:41:13] albashir : on ucad.....fx is not 100%...

[15:41:34] Stalion : 1.8693 next target

[15:42:39] albashir : Stalion wat pair is this?

[15:43:11] Stalion : how come, albashir, u got stopped out on usdcad...?

[15:43:12] Stalion : Stalion : on the USDCAD, at 1.0648, we would likely see price going up to 1.0695

[15:43:36] Stalion : first...then to 1.0714

[15:44:09] Stalion : if u used a 40pip stop loss, ur risk would've been like 1.0608

[15:44:31] Stalion : price is still at1.0642 on the usdcad right now...am i right?

[15:46:03] Stalion : or where did u enter on the usdcad?

[15:48:14] albashir : I actuall entered @ 1.0667 and had 30pips sl

[15:49:30] albashir : I came in late...

[15:50:08] albashir : well lost some $90...

[15:50:36] Stalion : that means u didnt follow d call and did opposite of what was given out on the chatroom..well, u u cant blame anyone for dat, my friend..

[15:51:36] r2r : nice call on nzd/usd tundope

[15:52:17] Stalion : price on the usdcad is now at 1.0655...7 pips higher dan our initial trade call...

[15:52:19] albashir : i take the blame i came in late and saw a buy order...( I think) & dats wat I did...

[15:52:24] r2r : how man currency pairs do u follow?

[15:52:34] r2r : many

[15:57:13] Stalion : for today,just two....gbpusd and usdcad...we've already made 47 pips off our 1st target for cable...before breaking even on d 2nd target point...looking at usdcad to give us the next set of pips...also keepin an eye on cable to see if it would breach 2nd

[15:59:16] Stalion : target....it looks like cable and usdcad are trading opposite each other...one goes up, d other tends to go down..

[16:07:46] Stalion : PPI release was higher than expectations,quite favourable to the dollar

[16:08:39] Stalion : 15 pip profit on the usdcad

[16:09:38] Stalion : trying to break above d 1.0663-7 resistance barrier..

[16:12:05] Stalion : if it does, then up we go for almost another 47 pips on 1st target

[16:35:45] Stalion : usdcad is not behaving the way its supposed to...so we cut it off at breakeven

[16:35:57] Stalion : 1.0648...

[16:37:13] Stalion : so anyone that is on that usdcad trade could let it off...our 47 pips on cable should be quite enough for today...

[16:38:33] r2r : good call

[16:41:41] Stalion : thanx,r2r....lets not forget that cable might still go up to a target of 1.8693...so lets take note and keep our fingers crossed,shall we?

[17:03:37] eugen3000 : thnx stalion, and see you tommorow

[17:10:47] r2r : thanks Stalion, cable moving up - fingers crossed

forexgreenland

Helloo fellow traders,
First I'd like to congratulate the Nigerian Olympic Dream Team IV for qualifying for the Finals of the Soccer Championship.

May the best team win..

[09:27:45] Stalion : we sell gbpusd at 1.8613, 1st target point @ 1.8593, 2nd target point @ 1.8555, 40 pip stop loss away .

[10:28:35] eugen3000 : what i learned or still try to learn is, to be patience and trade my plan with patience

[10:29:13] caprica1 : yeah I think thats the key phrase right there eugen3000. Patience. Ii believe it's a virtue. lol

[10:30:07] r2r : MPC minutes out v soon cud b some volatility

[10:30:30] r2r : woah

[10:31:24] caprica1 : jeez, thats just taken a massive jump!

[10:31:38] Stalion : price is moving like a schizophrenic....

[10:32:17] caprica1 : lol. Hats one way to put it.

[10:32:20] fxjedi : hi all

[10:32:59] Stalion : did i miss out any alerts?

[10:33:54] Stalion : hi jedi.....

[10:34:13] caprica1 : r2r just mentioned the imminent MPC minutes

[10:34:54] Stalion : ohh, maybe dats the cause of markets manic depression...

[10:37:41] r2r : down dooby doo down down

[10:37:52] boludotun : lol

[10:38:09] Stalion : if price goes back down our first target point, we lock in profits by moving sl to initial entry point this

time around...just to play safe, if u know what I mean...

[10:46:21] paulsimon : GBP/USD: Knee-Jerk Lift after Another Three-Way MPC Vote Split London, August 20. Cable

ran into resistance ahead of 1.8640 (today"s Asian session base) after eliciting a knee-jerk boost from the BoE MPC

minutes disclosure that Tim Besley voted for a 25bp

[10:46:38] tundope : hey

[10:47:02] paulsimon : 1.8588 was the pre-MPC minutes release low. Bids are tipped at 1.8585, with sell stops tipped

below 1.8573 (yesterday"s NY session base), with further buy interest then noted at 1.8540 (yesterday"s low was

1.8538). Additional sell stops reportedly reside

[10:47:11] paulsimon : sub-1.8500 (1.8510 was last Friday"s 25-month low).

[10:48:31] Stalion : we are being swamped by news everywhere...how the market decides to react to it is quite another

thing altogether...

[10:49:07] russy : hmmm we had some conflicts from uk

[10:51:37] tundope : this week has been too dull in the markets, not much volatility

[10:51:52] fxjedi : perhaps we also check on usdcad,news also cominh from there

[10:53:13] paulsimon : i am also waiting for the cad news rls.. i have a cad/jpy trade open currently at -65 pips

[10:54:25] fxjedi : geez,

[10:55:36] caprica1 : its just hit 1st target again.



[10:56:24] Stalion : looks like gbpusd is now seeing things our way...

[10:58:10] fxjedi : its stalling,stallion

[10:58:31] r2r : patience

[10:59:04] eugen3000 : move sl to initial entry right?

[11:00:22] Stalion : lets see it get to 1.8588 first

[11:01:15] Stalion : den sl to entry to lock in 20 pips profits....anything price wants to do after dat is its own lookout

[11:03:14] Stalion : the thing is, am looking to nick just 20 pips first...den breakeven if price doesnt go our way

eventually...wouldnt want us out of the trade prematurely...is dat greedy, guys?

[11:03:50] tundope : defl'y not

[11:03:58] boludotun : nope

[11:04:28] paulsimon : stallion, i dont understand how u mean move SL to entry to lock 20 pips.. i mean if the price

moves back to entry , we would be stopped out and have nothing right..

[11:04:58] fxjedi : greed is good

[11:05:52] eugen3000 : so your sl is still at 1.8653?

[11:07:03] Stalion : well, paul, before moving sl to entry, price would've been like 20 pips ahead in our favour....as price

already moved 20 pips ahead, dat is wen we place in our sl to entry point to lock in dat 20 pips

[11:07:45] paulsimon : oh ok..

[11:07:53] paulsimon : now i got it ..

[11:09:07] tundope : no event risk left for today in g/u so technicals will direct price action

[11:18:59] caprica1 : I think I might have done it wrong then Stalion. I haven't taken any profit out of the market yet, and

Ii adjusted my S/L to entry. I only have 1 order open.

[11:19:03] paulsimon : just sell half

[11:19:32] Stalion : sorry, jus do wat paul says....

[11:19:44] paulsimon : i just did tat now..

[11:20:40] caprica1 : how do I sell just half?

[11:20:56] paulsimon : click close and then select how much u want to sell

[11:21:15] fxjedi : lol,dis is a real practical forex class:lol!:

[11:21:38] paulsimon : for example, if u bought 100 lots, click close and then select 50 lots and sell

[11:23:55] caprica1 : so if my lot size was .10 for example, I WOuld close half that size?

[11:24:26] paulsimon : hmm, my broker allows me to sell only in multiples of 10

[11:30:54] paulsimon : by the way our trade seems to be going very well

[11:31:54] fxjedi : 20 pips to go for our seconds target

[11:46:05] paulsimon : the stallion has just left the stable

[11:46:29] Stalion : not yet,,mon ami

[11:46:38] Stalion : am enjoyin ur conversations...

[11:46:57] Stalion : brb in 10 mins

[11:47:01] paulsimon : aww, the silent listener to every conversation

[11:47:05] paulsimon : am just shooting my mouth off..

[11:48:46] boludotun : our trade is going our way

[11:50:38] caprica1 : well it's a medium term goal to get to that level. If can make £1000GBP per month that would

cover my wage. Then I could start to think about things.

[11:50:43] paulsimon : all the best..

[11:50:51] paulsimon : the coutndown begins

[11:51:12] caprica1 : My hours are bad at the moment though. 11:30a.m to 8:00p.m

[11:51:46] caprica1 : 2nd target hit. Whoo Hoo.

[11:52:07] boludotun : whoa

[11:52:31] paulsimon : congrats guys..

[11:52:43] tundope : cool money made to the bank

[11:52:49] paulsimon : congrats stallion.. god speed

[11:52:59] caprica1 : nice one Stalion. Youda man.

[11:53:11] boludotun : the Panther has gotten its prey..lol

[11:53:39] tundope : u only become confident with your trades after some yrs of experience

[11:53:53] tundope : dats wut stal has developed

[11:54:34] boludotun : im lacking in that part -experience

[11:54:44] boludotun : but with time'

[11:55:22] r2r : well done Stalion again

[11:56:39] Stalion : 58 pips,$58 minilot,$580 standard lots in less than 3 hours...

[11:57:12] Stalion : we did a gud job,guys

[11:57:13] tundope : yeah sure

[11:57:33] eugen3000 : super job Stalion

[11:59:28] caprica1 : certainly echo that coment. Ice job stalion.

[12:02:07] caprica1 : I'll have to see what happens the rest of the day now, or see if I can get in again before I go to

work tomorrow.

[12:12:55] Stalion : hope our 58 pips was enough for us?

[12:13:18] tundope : no

[12:13:29] tundope : we want mmore

[12:14:26] Stalion : lol....Oliver Twist wants some more....

[12:14:56] Stalion : abi u think say na Olympic Dream Team wey give Belgium 4-0?

[12:15:00] paulsimon : and we all know how tat turned out

forexgreenland

[01:27:45] Stalion : Hi folks..

[01:29:35] Stalion :Hope you all had some nice pips yesterday...As at Wednesday (3 days) into the 1 week free signals

service, we've made more than 308 pips on our live trades..and we are looking to make more..

[01:30:02] Stalion: We are seeing a 1-2-3 bottom on the gbpusd, so we put BUY STOP @ 1.8645, target @ 1.8695,

with a 40 pip stop loss away...



[01:31:48] Stalion: 45 pips live money is at stake here, my friends, so lets keep our fingers crossed,shall we

[01:45:01] Stalion:;hi n3sve1k4s

[02:05:14] Stalion:we could also see put a sell stop on GBPCHF @ 2.0440, target point @ 2.0406, stop loss 40 pips

ahead...

[08:37:08] r2r : mad moves this morn

forexgreenland

[00:28:01] masif1 : hi eugen

[08:04:58] bros1234 : morning everyone

[08:49:35] eugen3000 : morning bros1234

[08:51:12] bros1234 : hi

[08:58:27] bros1234 : gr8 day for traders

[08:59:00] eugen3000 : why its freaky friday :-)

[08:59:31] bros1234 : yep

[08:59:37] bros1234 : but somthin wiill soon happen

[09:00:15] eugen3000 : what do you mean by somethin?

[09:02:08] bros1234 : i believe its an upday

[09:10:58] r2r : morn all

[09:15:34] eugen3000 : morning

[09:19:26] Stalion : Helloo everyone

[09:19:52] eugen3000 : hi Stal

[09:21:03] Stalion : hope you'all had a good nite sleep yesterday....

[09:21:45] Stalion : hi eugen....another trading day starts...

[09:22:28] eugen3000 : yeap

[09:22:55] paulsimon : hey stallion.. good news from my side.. my cad/jpy is +40 pips right now

[09:22:59] eugen3000 : i hope paul you didnt close your cad/jpy trade

[09:23:14] eugen3000 : +40 great, congrats bro

[09:24:50] paulsimon : should i stop the trade or will it get better

[09:25:08] paulsimon : my internet connection is sucky , getting cut off badly.

[09:25:39] Stalion : told u u should be patient and wait for price to reverse around dat 0.7093 region

[09:25:58] paulsimon : i listened to ur advice stallion and i waited it out..

[09:26:31] Stalion : so, we put sell stop on gbpusd @ 1.8730, target @ 1.8700

[09:26:44] Stalion : jus to whet our appetite dis morning...

[09:26:50] paulsimon : now what do u think is the next course of action.. oil and gold seem to be rebounding so i think i

should hold it for a lil while longer at least to do justice to my stop loss

[09:27:35] paulsimon : what is the stop loss for the gbp usd trade

[09:30:19] paulsimon : damn i missed the window of opportunity

[09:30:50] eugen3000 : me too, maybe it will comeback to 30?!? we will see

[09:31:10] Stalion : 30 pips away...1;1 risk to reward ratio

[09:32:21] masif1 : we missed the opportunity but it hasn't hit it's target yet

[09:36:39] Stalion : dats intraday trading for you, fellas....gotta be real fast to

[09:37:44] paulsimon : true.. just lost 30 pips.. target almost hit

[09:38:05] eugen3000 : damn my price was just one pip under our limit, grr ;-)

[09:38:59] paulsimon : i scalped 6 pips during the spike down

[09:39:50] r2r : morn Stalion and all

[09:40:10] r2r : lets hope cable carries on going down

[09:40:26] masif1 : morning r2r

[09:40:33] masif1 : do u think so?

[09:41:07] masif1 : i was hoping cable is a long now for the next few weeks?

[09:42:52] r2r : down just for this morning

[09:43:05] r2r : so i can make some pips

[09:44:01] Stalion : 2nd target 1.8679

[09:44:24] Stalion : just put a 15 pip trailing stop loss and lets watch price do its job...we follow it wherever it wants to

go,guys

[09:44:26] r2r : hey Stalion is there a 123 on usdcad?

[09:44:31] Stalion : morning, r2r

[09:44:52] Stalion : 2nd target at 1.8679 about to hit...

[09:44:56] paulsimon : 2nd target hit!

[09:45:13] Stalion : MAMA MIA!!!!!

[09:45:25] r2r : yeah!!!!!!

[09:46:06] Stalion : SANTA MARIA!!!!!!!!

[09:46:32] r2r : lol!!!!!!!



[09:46:39] r2r : usdcad long pending 10456

[09:46:43] paulsimon : did anyone other than stallion enter these trades..

[09:46:44] paulsimon : ccongrats guys

[09:47:21] r2r : lost 20 pips going long cable, then shorted at 739

[09:48:32] eugen3000 : no, my price didnt go to 30 after trade call, damn, i love trading, hihi

[09:49:14] r2r : lost pips trying to long eurusd so overall just above breakeven

[09:49:21] paulsimon : then u must have made 50 pips

[09:50:09] paulsimon : then u must have made 50 pips

[09:52:16] Stalion : more dan 50 pips....added 3 minilots to it...

[09:53:29] Stalion : so, lets see if price would reverse and go up...

[09:53:57] r2r : gdp in 35 mins

[09:55:55] Stalion : we put a buy stop stop @ 1.8688, target @ 1.8722....

[09:56:04] Stalion : wats d expectations?

[10:29:31] Stalion : hi paul, did u add the pip spread to the cable's buy order?

[10:31:04] Stalion : move out,paul....its not working

[10:31:38] r2r : gdp was 0% expected 0.1%

[10:32:05] takbal : GDP pushed it down

[10:32:26] r2r : how does usdcad look Stalion?

[10:34:11] masif1 : stalion are we still on for the "we put a buy stop stop @ 1.8688, target @ 1.8722...."

[10:35:34] Stalion : yea....leave the pending order as it is...remember, add ur 4 pips to 1.8688

[10:36:02] Stalion : usdcad looks like stale beer

[10:36:58] Stalion : usdchf looks more bubbly

[10:37:43] Stalion : but since d dollar pairs are showing bullish signs of going up, looks like cable is looking to go down

[10:38:32] Stalion : dats where pendening orders come in...to confirm bullish or bearish bias

[10:39:50] takbal : do you have any ideas where the fall may stop?

[10:41:20] Stalion : 1.8598

[10:42:29] masif1 : yep cable down down down

[10:43:00] takbal : thanks! hit it now - I am stopping shorting cable now...

[10:43:36] bros1234 : i thnk thats where it will stop

[10:43:48] Stalion : in a way, i woudnt want it to stop...because the trailing stop of 15 pips put in earlier has not been cut

off yet...so,technically, am still on the trade...though with just 1 minilot now...creamed off 2 minilots earlier

[10:44:02] bros1234 : 18541

[10:44:41] Stalion : wait,takbal...not soo fast....allow the market to do what it wants...ur job is to profit from it..

[10:45:37] takbal : how did you derive these numbers? I usually have no idea what is a reasonable target

[10:47:09] takbal : I just simply follow the graph and if it looks reversing then I get out

[10:48:19] Stalion : dere's more to trading dan simply following graphs, takbal..

[10:50:36] tundope : hi all

[10:50:56] Stalion : helloo tundope

[10:51:32] albashir : good all...i guess i'm early today...did miss anything yet, bros,bolu', r2r,tabal & STAL...

[10:51:43] takbal : hi

[10:52:04] Stalion : u missed almost 208 pips this morning, man..

[10:52:16] tundope : av u made a call yet stal?

[10:52:21] Stalion : [09:26:31] Stalion : so, we put sell stop on gbpusd @ 1.8730, target @ 1.8700

[10:55:19] klho83 : I missed dat too!

[10:59:37] masif1 : tundope - i missed that alert as well :-(

[11:00:42] tundope : too bad 135 dollars would have made me go to bed by now

[11:01:33] Stalion : gbpusd still going down....damn...shudnt have taken off half profit from my remaining minilot

[11:01:33] tundope : but usd/jpy looks very inviting to me this morning

[11:01:52] tundope : i'm looking to sell at current price for 100 pips

[11:04:43] Stalion : next target for gbpusd is likely to be 1.8522 on the short side...

forexgreenland

Morning, folks,
Just want to congratulate the Nigerian Olympic Dream Team IV for their successful outing in the Soccer Championship and winning the Silver Medal this morning.
Also for the Argentinians that came out tops in the Soccer Fiesta. The best team won. We thank God and give glory to Him for everything..

Yahoo! Sports - Sports News, Scores, Rumors, Fantasy Games, and more

ria-argentina&prov=ap&type=lgns.

Someone made a crack that we should've played Reggae music (or is it Fuji?) during the match, like the Jamaicans did Usain Bolt, for athletic inspiration. Lol..

Bolt's most fitting final say to Rogge - Olympics - Yahoo! Sports

Anyways, down to trading. If you checked the previous chart, you would probably observe that 3rd target @ 1.8522

havent yet been filled as at the time of posting yesterday. There was a space below, waiting to be filled at the bottom of

the chart.



An hour later after the initial post, we saw price on cable(GBPUSD) tumbling down like a waterfall to get to our

destination.

.

We had a profitable week on our live calls in which approximately 500 pips,$500 minilot,$5000 standard lot was made on the average.

No gimmicks...
No lyrics..
No Nigerian magic..

Just the art and science of trading at its best.

We also want to thank Alpari and others for being fair and honest brokers,no hunting of stops during live trading sessions.We hope these ethical practice continues so as to restore confidence in the forex industry and show traders and the public,especially my Nigerian folks, that money can indeed be made consistently in this frontier.

Have a great weekend!
Stallion