All things are difficult before they are easy.
GBP/AUD, GBP/CAD, GBP/CHF and GBP/NZD thread 126 replies
simplest strategy for GBP/ JPY 101 replies
long eur/jpy, gbp/jpy, usd/jpy 11 replies
strategy HILO on GBP/JPY 406 replies
Gbp/jpy = Gbp/usd X Usd/jpy ?? 5 replies
DislikedWhat about stop loss levels.. Do you use pivots and daily support/resistance levels?
I use MT4 with daily pivots etc plotted if anyone is interested in using these on MT4 platform. I can post them here
I also use trailing stops minimum 100 behind but more often I place stop above/below the next fib level +50 or a daily resistance/support lineIgnored
DislikedHello Karmo, congrats for your new thread as its very very valuable for all newbie. I have been following your call for 2 weeks and I always impressed with the result. Last week, you are absolutely a Knigth Bear Green Pips as I didn't see anyone that put their target as low as you did.
When you open position, do you always let the SL blank ? and will lock in + 10 pips after the market go in your direction for 50 pips? Just curious to know, and maybe this is a stupid question as your decision is 90% right, but how about the market go against you before the 50 pips occurs? I ask this question since my capital is so little.
I don't see any line of 5 SMA in all charts.
Congratulation againIgnored
DislikedHi Karmo,
Happy to see that you have started this thread after watching you performing an excellent analysis and highly successful GJ trades for some time through Auslanco thread.
I am wondering if you like to keep the chart analysis from your end or don't mind some input from others?Ignored
DislikedThanks karma you honoured my suggestion.It will help us Learn more and more.One more thing since i am following AUS's thread for some time i have seen at the time Dow opens nobody is sure which direction the market moves buti have observed there is stark resemblance ( at least for last week) during open hours between Dow and G/J so why not Draw Fib. and trend lines on Dow's or its futures chart and see how it chalks out .Ignored
DislikedWow, I have to get my Fib learning book out and start studying. I never thought that fibs are that much important for this pair, but after seeing your highly accurate and awesome calls, I'm really starving to learn your method and apply it to my strategy.
Thanks for creating this thread, Karmo. This is surely going to be my second favorite thread on FF.Ignored
DislikedI have never used Pivot Points, read about them a little but I was never interested in them, dunno why.
As for SL, I will usually put my stop-loss 100-200 pips or somewhere around resistance/support levels or at fib levels, it depends on the situation. But as soon as I am in profit of 50-100 pips, I'll lock in a small # of pips and let it ride, it's a free trade from there onwardsIgnored
DislikedThank you for your lesson for the said pair. You use 1H TF for entry. May I ask how long the whole transaction take? If the market turns against you, would you normally lock-up your position to clear your mind?
How about the pair USD/JPY ? would you use the same trading strategy?
Thank you.Ignored
DislikedThanks Karmo,
So once a trade in locked in for say 10 pips do you use trailing stops or just leave it to hit you first fib level target
Also how do you go about trading once your target is met. (i presume at a fib level) Do you close and then wait for a 4 hr candle to close above the fib and trade again or ??? Can you explain
I sometimes find it difficult to reverse on a fib level or not. Do you have a system in place for this scenario?
DaveIgnored
DislikedWhat I mean is more often than not price bounces off fib as on Friday (61.8%) fib.
How do you deal with this situation because the 4hr chart is still trending DOWN so logically that would have been a good position to short with 200+pips in the bag already.
Or do you expect usually a fib level to be challenged more than once and if it fails a second time you reverse?
DaveIgnored
Dislikedhi karmo
thanks for sharing your method
but i have a question??
how you draw fibs accuratly???can you explain this in detail for us,cuz i don't know how draw them effectively??
thanks agian broIgnored