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Daily GBP/JPY analysis

  • #12,761
  • Aug 5, 2007 6:08pm Aug 5, 2007 6:08pm
Quoting bravado
yap.



i've made some contributions.
True, I never NEVER thought I would be watching the Dow were it not for you...lol
  • #12,762
  • Aug 5, 2007 6:09pm Aug 5, 2007 6:09pm
To become a great trader, we have to start by thinking ourself as one of 'em ,? i think bravado just doing fine....

anyone thinking the gap filling people will continued with retracement trader? 240.3 looks ok
  • #12,763
  • Aug 5, 2007 6:17pm Aug 5, 2007 6:17pm
Quoting kevinsw
True, I never NEVER thought I would be watching the Dow were it not for you...lol
seriously?

i bet this dow must be a hot female.
too many nudie sites out there. i get lost with names.
BAM BAM BOOM! -bravado
  • #12,764
  • Aug 5, 2007 7:08pm Aug 5, 2007 7:08pm
Long @ 240.25
  • #12,765
  • Aug 5, 2007 7:12pm Aug 5, 2007 7:12pm
Quoting kharvell
Long @ 240.25
Kharvell,

You are one of the most controlled traders I have seen. You look for 20 and only 20, and you do it over and over. Very impressive. My question is what made you enter at that level?
Que
  • #12,766
  • Aug 5, 2007 7:27pm Aug 5, 2007 7:27pm
my indicators are giving me a mixed signal. so wont trade this one prolly till tomorrow morning. will tell if it goes up or not. will be watching the dow tomorrow. sitting this one out for now. also the same with the g/u.
  • #12,767
  • Aug 5, 2007 7:48pm Aug 5, 2007 7:48pm
Quoting Que
Kharvell,

You are one of the most controlled traders I have seen. You look for 20 and only 20, and you do it over and over. Very impressive. My question is what made you enter at that level?
I don't always look for only 20, I just look for high probability trades where I don't have to waste a lot of time. 20 pips is a bare minimum I strive for though. It is better to record a win and miss out on pips than to lose.

Usually for every win it's about .8% for 20 pips, and 4% a week. I don't always get this goal necessarily. Last week I was 7 out of 8 accurate, and compound interest will be a good thing long-term

As far as why I entered, it's always because of the stochastics. I trade Spudfyre's method involving stochastics.

My chart is below. The 15-min stochastics was just above 30 I think when I bought heading up. The 30-min stochastics was on it's way up at around 20+, and 1-hour stochastics are going up at about 22ish.

The 4-hour stochastics are telling me that the longer-term trend is down, but the shorter-term are telling me we may get a little retracement for some pips. When I go against the longer-term trend, I usually aim for my 20 pips and not too much more. It all depends on how the stochastics behave.
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  • #12,768
  • Aug 5, 2007 7:56pm Aug 5, 2007 7:56pm
Quoting kharvell
I don't always look for only 20, I just look for high probability trades where I don't have to waste a lot of time. 20 pips is a bare minimum I strive for though. It is better to record a win and miss out on pips than to lose.

Usually for every win it's about .8% for 20 pips, and 4% a week. I don't always get this goal necessarily. Last week I was 7 out of 8 accurate, and compound interest will be a good thing long-term

As far as why I entered, it's always because of the stochastics. I trade Spudfyre's method involving stochastics.

My chart is below. The 15-min stochastics was just above 30 I think when I bought heading up. The 30-min stochastics was on it's way up at around 20+, and 1-hour stochastics are going up at about 22ish.

The 4-hour stochastics are telling me that the longer-term trend is down, but the shorter-term are telling me we may get a little retracement for some pips. When I go against the longer-term trend, I usually aim for my 20 pips and not too much more. It all depends on how the stochastics behave.

very interesting because I also like Spudfyre's method, but I have a question for you, when you do this kind of small trades for only 20 pips don't you also look at fibs trendlines and other stuff like that? Sometimes I noticed that stochastics may only go up to 50 level and then reverse etc not necesarily go 85 level to let you complete the 20 pips, and that is because of those levels on the chart, or so i think
  • #12,769
  • Aug 5, 2007 8:05pm Aug 5, 2007 8:05pm
Quoting ovidiu
very interesting because I also like Spudfyre's method, but I have a question for you, when you do this kind of small trades for only 20 pips don't you also look at fibs trendlines and other stuff like that? Sometimes I noticed that stochastics may only go up to 50 level and then reverse etc not necesarily go 85 level to let you complete the 20 pips, and that is because of those levels on the chart, or so i think
What you are describing happens more on smaller time frames like the 15-min and 30-min charts. But when you get to the Hourly chart, when the stochastics turn, it usually takes a while to reverse even if it does only go up to the 50. This is especially true with the 4-hour stochastics.

It's important to have at least the hourly or 4-hour stochastics with you.
  • #12,770
  • Aug 5, 2007 8:10pm Aug 5, 2007 8:10pm
Quoting kharvell
What you are describing happens more on smaller time frames like the 15-min and 30-min charts. But when you get to the Hourly chart, when the stochastics turn, it usually takes a while to reverse even if it does only go up to the 50. This is especially true with the 4-hour stochastics.

It's important to have at least the hourly or 4-hour stochastics with you.
ok noted, thanks.
and another thing this drop was realy unexpected I was also on a nice ride up, and it took my sl that was on zero fortunately....
  • #12,771
  • Aug 5, 2007 8:11pm Aug 5, 2007 8:11pm
Went south on me, going to hold onto it for a little while, within 12 hours I think I will have profit; just going to buy some more later at a better price.
  • #12,772
  • Aug 5, 2007 8:15pm Aug 5, 2007 8:15pm
Quoting ovidiu
ok noted, thanks.
and another thing this drop was realy unexpected I was also on a nice ride up, and it took my sl that was on zero fortunately....
My S/L is just there in case my computer crashes. I like to not have one and just rely on what I think and not get caught up in the numbers. It usually starts out at 50 pips. Then if the price goes against me like it is now, I will just make it 100, and so on. When the 4-hour stochastics turn around which should be in 12-24 hours. Worst case scenario, I think the price will get to 238.00, and then retrace up in my favor.
  • #12,773
  • Aug 5, 2007 8:18pm Aug 5, 2007 8:18pm
Quoting kharvell
My S/L is just there in case my computer crashes. I like to not have one and just rely on what I think and not get caught up in the numbers. It usually starts out at 50 pips. Then if the price goes against me like it is now, I will just make it 100, and so on. When the 4-hour stochastics turn around which should be in 12-24 hours. Worst case scenario, I think the price will get to 238.00, and then retrace up in my favor.

wow to get to that level 238 is very risky imo. unless you have that kind of margin. well i dont, not yet anyways. will someday. hope that you can profit from the retrace.
  • #12,774
  • Aug 5, 2007 8:26pm Aug 5, 2007 8:26pm
Quoting treadline
wow to get to that level 238 is very risky imo. unless you have that kind of margin. well i dont, not yet anyways. will someday. hope that you can profit from the retrace.
That's worst case scenario.. Stochastics are all getting oversold, I'm not very worried.
  • #12,775
  • Aug 5, 2007 8:31pm Aug 5, 2007 8:31pm
Quoting kharvell
That's worst case scenario.. Stochastics are all getting oversold, I'm not very worried.

what are your numbers on stochastic? mine is 5.3.3
  • #12,776
  • Aug 5, 2007 8:35pm Aug 5, 2007 8:35pm
Quoting treadline
what are your numbers on stochastic? mine is 5.3.3
(14,3,3)
  • #12,777
  • Aug 5, 2007 11:21pm Aug 5, 2007 11:21pm
Quoting Majd
I am out for today, the range seems to be tight but will be watching for 243.3 break to long or buying a dip from the 240.77 or 239.60 next week.

Happy trading everyone
Still in my long from 239.60. The long legged Doji on the 4 HR at the 38.2 major trend ret. on 4 HR chart earlier today relieved me but the recent candle ret. at 240.39 didn't taking into account the general bearish market sentimenets from last week's Bearish Engulfing candle close and NFP effect.

TP1 @ 240.77 (23.6), TP2 @ 242.73 (38.2), [email protected]
  • #12,778
  • Aug 5, 2007 11:47pm Aug 5, 2007 11:47pm
Exited my Long for +1 pip LOL. Hey, it's better than losing.

It's too "whipsawy" to be making anything big, and I still think it will hit 238.00 again before it really goes up.
  • #12,779
  • Aug 6, 2007 12:53am Aug 6, 2007 12:53am
Still holding my longs as they are well into profit as shown on my statement.
Que
  • #12,780
  • Aug 6, 2007 1:07am Aug 6, 2007 1:07am
Quoting Que
Still holding my longs as they are well into profit as shown on my statement.
ur long since when? wat rate?
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