Thread: GBP and JPY Pairs H1 2013

Originally Posted by Sean Hyman

Colly, thanks for the kind words. Yeah, even when I trade chart patterns or even scalp, I tend to do that in the direction of the larger daily chart trend too.

Yep, I'm just a laid back "good ole" southern boy from Arkansas that migrated to Dallas some 8+ years ago.

So I wasn't raised on Wall St. I learned a lot on my own and later on learned a lot through the "in house" programs through Charles Schwab and FXCM. 18+ years later, I've seen a lot of stuff come and go and have learned what seems to stick and last over time.

I'm still learning every day too...but I do love sharing what I have learned over those 18+ years so that it helps out those that have been trading days to a year or two.

Colly, this could have been the video that you were referring to. Not sure. But I went over some triangles in the middle of this video: YouTube - The British Pound and Its More Profitable Cousin

You are welcome!

"Migrated" ~ thats funny.

I was brought up by a bird-loving mother and to me migration is something that birds do in autumn and to warmer climes. Sounds like you have actually taken roost in Tx!

I accept what you say completely and to a large extent simply allow others to have their way and to follow my own. It is on days like today ( which actually means nothing at all ) that I am willing to "try-on" anothers style just to see what happens.

For me, RSI's are still the best indicator of what is going to happen. Combined with Fibo principles and EWT I find myself with more winners than losers and to me that is all that is important... especially when managed with reasonable risk parameters.

Colly

This is what I am talking about. If you do not know what you are looking at you can lose a lot of money just playing the trend is my friend game. 1 good corrective trend and you are done, toast, fried, dead

But in this case I am sure we are in a bull trend!!! Wouldn't you like to know how I know that. lol

Originally Posted by surreyhills

I find it hard to believe we are witnessing the start of a new trend, given the overall eurozone picture going forward.
To me it is more like a short term correction with resistance coming in at around 1.23480. Well, thats where I'll be looking out to place another short.
Also the Asia trade overnight has been helpful the last couple of nights.
Of course could be completely wrong and I respect others greater experience and knowledge.

Dear Mr Surreyhills,

We are not witnessing the start of a new trend if that trend be from 1.51.

We have yet another major wave down to experience.

We may be experiencing still a corrective wave 4 and that can mean many many things.

These are the hardest waves to trade.

Any consideration in respect of the term "trend" has to be balanced with the authors definition of such. For some trend change daily and even more frequently than that it seems

Nevertheless, trading techniques are trading techniques and its about accepting the philosophy ( or not ) without too much attention given to the terminology used in regard thereof.

Thats my view and it saves alot of potential conflict that way.

Colly

Originally Posted by MoneyInc.

This is what I am talking about. If you do not know what you are looking at you can lose a lot of money just playing the trend is my friend game. 1 good corrective trend and you are done, toast, fried, dead

But in this case I am sure we are in a bull trend!!! Wouldn't you like to know how I know that. lol

Ha ha ha

MoneyInc You are so funny.

We have been in a corrective wave trend since 1.600 !!

If what you are saying here means that we shall now see no further lower low before going to 1.6 or higher then, well, good luck.

Hey, good luck anyway

Colly

Originally Posted by Colly

Dear Mr TAfool,

I am curious about the foundation basis of that name I am....

"Fool" is from the informal usage; as in an enthusiasm for. "TA" is for Technical Analysis, hence, TAfool. To those that dislike what I post it can easily refer to "idiot" as well, so I have the bases covered!

TAfool

The reason i Still waiting and a bit skeptical about a reversal

European Countries Need Bank Stress Test: Geithner

It would show a lot of weakness in the EZ especially if they refuse to do it which if i remeber correctly they where not willing to do some time back

Originally Posted by Colly

Ha ha ha

MoneyInc You are so funny.

We have been in a corrective wave trend since 1.600 !!

If what you are saying here means that we shall now see no further lower low before going to 1.6 or higher then, well, good luck.

Hey, good luck anyway

Colly

I leave that stuff for you, so do me a favor change it to show what i am tring to say...

Originally Posted by TAfool

"Fool" is from the informal usage; as in an enthusiasm for. "TA" is for Technical Analysis, hence, TAfool. To those that dislike what I post it can easily refer to "idiot" as well, so I have the bases covered!

TAfool

I like it and thank you for clarification.

I thought TA may have been Territorial Army !!

It was always the fool, the jester, that got closest to those in power. Whilst those days may now have been completely relegated to history I think its a fine attribute to have in todays society.

Always good to be like that, humble and not haughty, care-less to what others may think and say about you, and yet a smile regardless.

Colly

Originally Posted by MoneyInc.

I leave that stuff for you, so do me a favor change it to show what i am tring to say...

Quite honestly MoneyInc I really respect and am following what you share with enthusiam.

I would simply suggest a refining of your definition of "trend" and "bull" ones particularly when the market has a ratio of about 95:1 bears to bulls !!

Whilst I am certain you know what you mean not necessarily is it so that everyone else does.

Best,

Colly

Originally Posted by Colly

Thank you Mr Stanchiam.

I gathered that it was an entry point and yet the numbers " (78+30+0) /3 " are still vague to me anyways.

Colly

He's getting the average entry price. As long as the entries are in equal amounts the equation is correct (hypothetical numbers).
1.2278 1 lot Entry#1
1.2230 1 lot Entry#2
1.2200 1 lot Entry#3
3.6708/ 3 = 1.2236 average cost

If the lots are different sizes the equation must be equalized.

TAfool

Originally Posted by Colly

Quite honestly MoneyInc I really respect and am following what you share with enthusiam.

I would simply suggest a refining of your definition of "trend" and "bull" ones particularly when the market has a ratio of about 95:1 bears to bulls !!

Whilst I am certain you know what you mean not necessarily is it so that everyone else does.

Best,

Colly

Colly where would you enter short here.....?

Originally Posted by MoneyInc.

Colly where would you enter short here.....?

Hahaaha MoneyInc,

You probably think I am winding you up or something given that we now have this question.

I told you, I am following your philosophy and trying it on.

This is where I DID short.

2 positions, one with a 20 TP and the other to run with a trailing stop

Colly

to many supports

Originally Posted by Colly

Hahaaha MoneyInc,

You probably think I am winding you up or something given that we now have this question.

I told you, I am following your philosophy and trying it on.

This is where I DID short.

2 positions, one with a 20 TP and the other to run with a trailing stop

Colly

Colly change your BB from close to low

Originally Posted by MoneyInc.

Colly change your BB from close to low

Yeah, I did that and the result of the cross is neglible.

The chart shows a sharp move up counter-philosopy, positions stopped out and
and the jury is now in recess

Colly