Breeze....Update on GBP/JPY

One day someone will listen to my ravings !! :

i DONT UNDERSTAND WHAT URE SAYING...CAUSE WHERETHER THE MARKET GOES "up" OR "down" PEOPLE WHO HEDGE ALWAYS MAKES MONEY "both" WAYS

Breeze

Calm down man i was just kidding in a self deprecating way about the run of luck ive had lately! No reference to anyone else intended!

Sorry my sarcasm is a little too subtle sometimes.

long @
227.50................active
226.50................active
227.00................active
226.22................active
226.50................active
226.75................active
227.25................active
226.40 X 5...........active
226.00.................waiting activation
225.00................active
224.15................active
223.50................active

ALL HEDGES CLOSED @ 223.50......

Profitable trading
Breeze

Ok I have to eat something I'll log off for a while.

Breeze

There was news from China that they will be investing in the Japanese stock market.

ok....I had an apple salad...fish....2 slices bread....and a orange juice drink.....so I can get my brains working in the rite direction.

Breeze

long @
227.50................active
226.50................active
227.00................active
226.22................active
226.50................active
226.75................active
227.25................active
226.40 X 5...........active
226.00.................waiting activation
225.00................active
224.15................active
223.50................active

Profitable trading
Breeze

I hate this whipsaws.....

Breeze

Where do you get this news from????
Better where do you find asian news that influences always the GBP/JPY?

Can you explain this "Hedge"?
where can I learn how to "Hedge"

He's around here somewhere, I just don't know his handle yet.
He said usdjpy is headed for 110 and he's long, (so am I)

Its now definitely time to join the long band wagon.

London open should be fun!

New's will never help you, stupid_news I call it. Why? Because by the time you hear it, the move has already happened, you get in and the herd heads the other way. Better to trade the charts and keep either a disaster stop or hedge in place in case some really crazy thing happens, nuke or comet hits the planet, than to become a parionoid mainiac trying to catch every news announcement that comes out. At least this is what I've found. Just can't beat the peace of mind that come from blowing off the stupid news thing.

TJ

This is a very good confirmation.Thnx.
Now can you explain the "HEDGE" System?

Well, I can speak about it from where I see it but I do not profess to know exactly the way Breeze performs the hedge function.

I do it like this.

1. While I am trading I do not hedge or set any SL unless the market is very volatile then I'll set a disaster hedge way out there 150 to 200 pips.

2. When it is time for me to leave the computer I set a hedge around 50 pips above/below any resistance/support I think price has a possibility to touch while I'm away.

3. When I return, normally no hedge is hit but occasionally when it does get hit then, I sit back, smoke a cig, have a cup of coffee and bless the morning because I don't have to worry about making any quick decision to get unhedged.

Anyways here is the part were most people screw up.
Now that we're hedged, psychology begins to work on the mind. On one hand we know we are completely safe and have literally all the time in the world to get back into the game on a positive note yet on the other hand there is a tendency to feel pressured to hurry and get back in being afraid we might just miss that magic moment were we can unhedge and all will be well.

Speaking from my own standpoint here remember, when I suddenly find myself hedged, I then work out a plan of:

What did I do wrong which landed me in a hedge or was there an unusual condition that got me hedged?

a: If it was an error of judgment regarding correct pivots S/R's or what ever then I simply concentrate harder on my charts and find where the correct entry point should have been that I missed. Then I set a order to unhedge me at that point and begin again.

b: If it was because of a change in market conditions then if the conditions are plain and clear I'll do the same as a: above but if they are not clear then I'll put that trade on the back burner for as long as it takes for market conditions to reveal themselves so I can again stalk the correct timing to enter (re-enter) the position again.

The most important thing anyone can understand about hedging is that once hedged, we must put all urgency to the side and relax, say to ourselves... I'm hedged!!! WONDERFUL! Then work out a trading plan to become unhedged the same as you would work on a plan to take any trade.

Well... I hope this helps some. Again, I really don't know exactly how Breeze does it but I did develop my hedging system based on watching him hedge for quite some time now but Breeze is the final authority on hedging, and he is very very good at it.

Sincerely,
TJ

EDIT:
It would not be right for me to leave out the common sense fact that anyone wishing to learn how to hedge should practice on a demo account until they feel comfortable with it before implementing anything different such as hedging on their live trading account.

Hello Breeze I have good profits on shorts AUDJPY (2lots on 98.60, 2 lot on 100 ) and i am waiting the reverse of the trend to close them... As you know, i have also Long position (4 lots 106.50 ) which is on minus , so i dont have to make misstake ; what do you think about aud/jpy? will it go up , when and till where or it will range and then drop again Best regards

[quote=TraderJoe;1730110]Well, I can speak about it from where I see it but I do not profess to know exactly the way Breeze performs the hedge function.
quote]

Thanks Trader Joe for your help

Can anyone explain me how is japanesse economy going ?

Breeze,

where is your strategy posted on this thread?