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Daily GBP/JPY analysis

  • #12,941
  • Aug 9, 2007 3:21pm Aug 9, 2007 3:21pm
Quoting bmwboyee
thread is really quite today.
looks likes everyone is counting there money they made today

wonder what it has incount for us tomorrow up to 244 again as thats all its seems to have done this week one day up one day down
  • #12,942
  • Aug 9, 2007 3:48pm Aug 9, 2007 3:48pm
Long @ 239.40

This support SEEMS pretty stubborn(238.60ish)... seems low risk enough..
  • #12,943
  • Aug 9, 2007 3:57pm Aug 9, 2007 3:57pm
Quoting kharvell
Long @ 239.40

This support SEEMS pretty stubborn(238.60ish)... seems low risk enough..
so is 238.6 your sl ?
  • #12,944
  • Aug 9, 2007 4:02pm Aug 9, 2007 4:02pm
Quoting ovidiu
so is 238.6 your sl ?
Quite possibly

It's actually 238.50 just in case
  • #12,945
  • Aug 9, 2007 4:04pm Aug 9, 2007 4:04pm
Hmmm.... my Hourly (14,3,3) stochastics is reading a 1.88. The last time it went this low, it shot up rather fast.... A head's up perhaps?
  • #12,946
  • Aug 9, 2007 4:08pm Aug 9, 2007 4:08pm
I have a flag formation ... the projection is 230.30 meets a good trendline...
august, the month of the bears...
What do you think ?
Attached Image (click to enlarge)
Click to Enlarge Name: 23030.jpg Size: 96 KB
  • #12,947
  • Aug 9, 2007 4:16pm Aug 9, 2007 4:16pm
i just closed out my longs i had and collected my swap from my 239.10 entries. The day is over for me. this is my record day of over 2100 pips on this one day! i will sleep very good tonight!
  • #12,948
  • Aug 9, 2007 4:24pm Aug 9, 2007 4:24pm
Quoting bmwboyee
i just closed out my longs i had and collected my swap from my 239.10 entries. The day is over for me. this is my record day of over 2100 pips on this one day! i will sleep very good tonight!
nice trades man! Can't say I've come close to that, but there's always tomorrow
  • #12,949
  • Aug 9, 2007 4:29pm Aug 9, 2007 4:29pm
if you make 3 orders.. with 100% of your maximum lots allowed by money management, you are leveraging by 3. and it is ok if you win.. but if you make 3 trades each one with 1/3 of your standard lot size.. then divide the pips by 3 to have the real pips you won.
  • #12,950
  • Aug 9, 2007 4:34pm Aug 9, 2007 4:34pm
Quoting emda
if you make 3 orders.. with 100% of your maximum lots allowed by money management, you are leveraging by 3. and it is ok if you win.. but if you make 3 trades each one with 1/3 of your standard lot size.. then divide the pips by 3 to have the real pips you won.
I am trading a mini account emda with fxdd. i trade 1 full lot on a mini account. most of my pips came from the 3-1 lot trades I had in. true gbp/jpy did not move a complete 1300 pips today, but if you would like me to say that i had a 3 lot trade that yeilded about 400 pips for just gbp/jpy, that is fine with me too. I just know what i am looking at and everyone does their accounting different
  • #12,951
  • Aug 9, 2007 4:37pm Aug 9, 2007 4:37pm
Quoting bmwboyee
I am trading a mini account emda with fxdd. i trade 1 full lot on a mini account. most of my pips came from the 3-1 lot trades I had in. true gbp/jpy did not move a complete 1300 pips today, but if you would like me to say that i had a 3 lot trade that yeilded about 400 pips for just gbp/jpy, that is fine with me too. I just know what i am looking at and everyone does their accounting different
the thing is if your money management would have allowed 3 lot trade...
  • #12,952
  • Aug 9, 2007 4:53pm Aug 9, 2007 4:53pm
Quoting emda
the thing is if your money management would have allowed 3 lot trade...
Sorry... Who's trade is that? His or yours?
He has a happy day. There seems to be an urge to spoil it. Why? If his personal money management needs were met, where is the problem? Based on the news that lead to this move he made everything right and did not expose himself to oversized risk.

Just my humble impression from the sidelines of this thread.

Gruezi!
Gnat
  • #12,953
  • Aug 9, 2007 4:59pm Aug 9, 2007 4:59pm
thanks Gnat today was mine, his might be tomorrow now everyone go and enjoy a drink on me.
  • #12,954
  • Aug 9, 2007 5:14pm Aug 9, 2007 5:14pm
Quoting emda
I have a flag formation ... the projection is 230.30 meets a good trendline...
august, the month of the bears...
What do you think ?
Pardon my ignorance, but what does a flag generally entail? Never seen or heard of one..any information you could share would be appreciated
  • #12,955
  • Aug 9, 2007 5:23pm Aug 9, 2007 5:23pm
flag means a trend continuation pattern

http://www.forexmanual.prv.pl/ch55.html
  • #12,956
  • Aug 9, 2007 5:29pm Aug 9, 2007 5:29pm
Quoting kharvell
Pardon my ignorance, but what does a flag generally entail? Never seen or heard of one..any information you could share would be appreciated
kharvel, you seem like the most calm dude here, and I am not saying this to flater you or something, but it just amezis me the perseverence you have, only to go after small gains but really constant, and you do this with gj which is the most volatile pair, but I think this helps.., how long have you traded? and are you planning to get rich of it or just doing it for fun you seem to have an incredible knowledge of what trading is all about, and the fact that I am just having a newbie aha moment right now has pushed me to ask you this questions, which I hope will not offend you or will you find them to lame to answer to them.
but really now can we make decent money out of it if we have a sound plan? and especilay trading this beast?
  • #12,957
  • Aug 10, 2007 4:57am Aug 10, 2007 4:57am
Quoting emda
I have a flag formation ... the projection is 230.30 meets a good trendline...
august, the month of the bears...
What do you think ?
I have the feeling that it looks really like one. Do you have experience with whether this pair is often compatible with formations like this?
If you never lose, something is wrong...
  • #12,958
  • Aug 10, 2007 6:30am Aug 10, 2007 6:30am
Quoting emda
I have a flag formation ... the projection is 230.30 meets a good trendline...
august, the month of the bears...
What do you think ?
I went short at 237.39, is looking ok for now, if 236.67 breaks I expect bigger drop
If you never lose, something is wrong...
  • #12,959
  • Aug 10, 2007 6:37am Aug 10, 2007 6:37am
Quoting Josmottobos
I went short at 237.39, is looking ok for now, if 236.67 breaks I expect bigger drop
I agree .... have been short since around 10:45 uk time and if it rebounds short here I see a large fall. A good tight stop entry here I believe.

Just my view.

Regards,

Chris.
  • #12,960
  • Aug 10, 2007 7:25am Aug 10, 2007 7:25am
did not really work out, but as long as it did not reach stop loss I think your flag will eventually happen
If you never lose, something is wrong...
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