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09:19:47] saintvalx : Hi all

[09:43:56] Stalion : hi everyone

[10:27:15] fxvampiro : hi stallion

[10:31:02] Stalion : hi fxvampiro

[10:31:12] Stalion : hi everyone

[10:31:43] Stalion : hope you all had a good night rest

[10:33:41] ejiro : Stalion

[10:34:00] Stalion : (RTTNews) - UK''s FTSE 100 Currently At 5,539.10 Down 39.10 or 0.70%For comments and feedback: contact editorial@rttnews.comCopyright(c) 2008 RealTimeTraders.com, Inc. All Rights Reserved

[10:34:18] fxvampiro : yea

[10:34:34] Stalion : hey,ejiro, how far?

[10:35:21] Stalion : (RTTNews) - Germany''s DAX Index presently Down 51.49 Points or 0.76% at 6,738.

[10:35:54] Stalion : (RTTNews) - France''s CAC 40 Currently Losing ###38.78 Points or 0.82% at 4,705.67


[10:49:31] Stalion : Price is retracing downwards after shooting up to 1.9525

[10:53:45] ejiro : are u talking about gbp/usd?

[10:53:51] fxvampiro : what currency pair is that?

[10:56:46] Stalion : yes,gbpusd, cable, it has retraced 50% downwards and going up right now

[10:57:25] ejiro : so what do u suggest we should enter a trade now?

[10:58:14] ejiro : and what timeframe should we be looking @ m15 ?

[11:02:57] Stalion : we look for a trendline break above 1.9490, then 1st target should be up to 1.9510, too bad i missed the first pullout around 9.15 a.m

[11:05:00] fxvampiro : ohh,sorry, i got in earlier and made 50 pips from it

[11:06:08] ejiro : so we should enter when it is 1.9490?

[11:08:26] ejiro : and what should our stop loss be?

[11:10:13] Stalion : please remember to add your pip spread to it, u wouldnt want to enter prematurely and see price going backdown, so if your entry is 1.9490,add 4 pip spread on GU to it

[11:11:01] fxvampiro : okay

[11:11:13] ejiro : and the stop loss should be?

[11:13:22] ejiro : how many pips should our stop loss be?

[11:14:41] Stalion : 1.9460,

[11:17:53] Stalion : with almost all the major world stock markets going down, there must be a Black Swan effect on the forex market

[11:22:21] fxvampiro : umm,stalion,what do u mean when u wrote black swan

[11:23:35] ejiro : are u on the trade?

[11:24:00] ejiro : because it is already close to stop loss

[11:28:23] Stalion : yes, i'm , my platform has frozen at 1.9487, perfect time for broker to do that, wats d current price at your end?

[11:30:29] ejiro : 1.9483

[11:31:00] ejiro : which broker do are u sing now that froze your platform?

[11:31:58] Stalion : northfinance, trying to get them on the phone

[11:32:22] ejiro : damn and i am thinking of using them 4 live trading

[11:32:57] fxvampiro : stallion, i was asking about the swan effect u mentioned earlier,what do you mean

[11:43:42] Stalion : Black Swan Effect:An event or occurrence that deviates beyond what is normally expected of a situation and that would be extremely difficult to predict. This term was popularized by Nassim Nicholas Taleb, a finance professor and former Wall Street Trader

[11:47:07] Stalion : Investopedia Says, Black swan events are typically random and unexpected. For example, the previously successful hedge fund Long Term Capital Management (LTCM) was driven into the ground as a result of the ripple effect caused by the Russian government

[11:52:53] Stalion : IST TARGET HIT!!

[11:58:40] ejiro : Stalion yes 1st target hit $170