geppy is "ugly" when ? | Forex Factory

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geppy is "ugly" when ?

  • #1
  • First Post: Dec 8, 2007 2:58am Dec 8, 2007 2:58am
hi i heard from other traders who been trading this specific pair gbp/jpy that like other pairs, there are "ugly" periods, when theres not much volatility (?) or undesirable movements (not sure what they meant by ugly)/.

so for those of you with long experiences (at least a year or two), what period of time did you have most trouble?

i know the market is constantly changing, but im interested to know their personal experiences.

thanks.
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  • #2
  • Dec 8, 2007 3:01am Dec 8, 2007 3:01am
the geppy is famous in my book for trending pretty regularly. that's why i like it. ugly would mean to me when the geppy is ranging
Twitter: @forexpokerpro
  • #3
  • Dec 8, 2007 3:03am Dec 8, 2007 3:03am
i dont trade this pair,..but still would like to coment,...i dont understand why ppl trade this pair,..if the spread is the largest and the moves are more or less similar to other jpy crosses ......ugly indeed.
its just money
  • #4
  • Dec 8, 2007 3:12am Dec 8, 2007 3:12am
Quoting de123
i dont trade this pair,..but still would like to coment,...i dont understand why ppl trade this pair,..if the spread is the largest and the moves are more or less similar to other jpy crosses ......ugly indeed.
look at this :

http://forexfactory.com/%5BURL=http:...G%5D%5B/URL%5D

let's assume you buy GBPJPY just when it crosses the 50 EMA at 225.43. you sell at 228.43. 300 pips in a short period of time
Twitter: @forexpokerpro
  • #5
  • Dec 8, 2007 3:23am Dec 8, 2007 3:23am
Quoting de123
i dont trade this pair,..but still would like to coment,...i dont understand why ppl trade this pair,..if the spread is the largest and the moves are more or less similar to other jpy crosses ......ugly indeed.
What other JPY cross has an atr of over 300 pips?

I have traded this pair along with other pairs and have never found an "ugly" time. Sometimes the strategy changes a little, but Over all this is just another tradeable market. Volatility strategies are always good on this cross.
  • #6
  • Dec 8, 2007 3:24am Dec 8, 2007 3:24am
u can do that also with eur/jpy for 2 pip less, or with cad/jpy/au/jpy for 1 pip less,....GBP currency is weaker then cad, eur, aud, nzd etc so going long gbp/jpy,...should be more dangerous then going long on other majors excluding usd,yen,chf...is my guess,....ugly indeed...:
its just money
  • #7
  • Dec 8, 2007 3:25am Dec 8, 2007 3:25am
Quoting de123
i dont trade this pair,..but still would like to coment,...i dont understand why ppl trade this pair,..if the spread is the largest and the moves are more or less similar to other jpy crosses ......ugly indeed.
simply u wont get such volatility elsewhere. it is crazy, i am coming from trading fibres and when i look at the daily ranges on this geppy....absolutely blew my mind i dont know why i stuck up with eurusd for so long....oh yea i was daytrading, using fancy indicators, and the huge spread kinda turned me off.
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  • #8
  • Dec 8, 2007 11:55am Dec 8, 2007 11:55am
I don't even look at other pairs! This cross is by far the easiest and most profitable I have traded in the two years that I have been trading. Yeah the spread is more but covering it is just as easy as 1 pip on the euro. I trade a breakout system with psychological numbers and previous days fibs on 5 minute charts. Breakouts when taken correctly on this currency cross will go for at least 50 pips on the "ugly" days, and I have had beakouts that I have ran for as much as 300 pips in one day. Even when this pair is ranging like it has been for the past week or so, its range is like 500 pips! The only "ugly" in trading this could be in the style that you are trading it!
Cadillac Pippin
  • #9
  • Dec 8, 2007 1:46pm Dec 8, 2007 1:46pm
Quoting smjones
What other JPY cross has an atr of over 300 pips?
Pip ranges have no meaning in currency comparisons. I don't know why FF members get so hung up on pips for comparisons, in that case, USD/MXN with its 500-1000 pip daily ATR would be king. Comparing pips is apples and oranges.

Percentage ATR is the logical way to compare daily volatility of various pairs. I rarely have ever seen GPY/JPY outperform AUD/JPY or NZD/JPY on a percentage basis. On the same token, AUD/USD and NZD/USD have a higher correlation to USD/JPY than GBP/USD does, which leads to the out performance of those carry crosses vs GBP/JPY.

To correctly rephrase your question - "What other JPY cross has an atr of over 1.3%?" (the percentage equivalent of a 300 pip move on G/J)

The answer would be AUD/JPY, NZD/JPY, and lately, CAD/JPY.
  • #10
  • Dec 8, 2007 2:59pm Dec 8, 2007 2:59pm
Quoting colnc
I don't even look at other pairs! This cross is by far the easiest and most profitable I have traded in the two years that I have been trading. Yeah the spread is more but covering it is just as easy as 1 pip on the euro. I trade a breakout system with psychological numbers and previous days fibs on 5 minute charts. Breakouts when taken correctly on this currency cross will go for at least 50 pips on the "ugly" days, and I have had beakouts that I have ran for as much as 300 pips in one day. Even when this pair is ranging like it has been for the past week or so, its range is like 500 pips! The only "ugly" in trading this could be in the style that you are trading it!
i have to agree. i just use yesterday's high/low and wait for a specific session for entry on breakouts in that session. will volatility ever die down like during vacations and such ?

so far so good.....i donno if breakout methods will keep making money but for me this is a big change....from charts defiled with 10 different indicators....:S

the shock of seeing professional traders that barely use more than 1 or 2 indicators or most of the time, none at all, really made me realize something.
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  • #11
  • Dec 9, 2007 12:39am Dec 9, 2007 12:39am
I can't stand trading this pair during the Tokyo session. I have to fight with myself to keep the computer off until at least one hour before London opens. That's 12 midnight where I'm at (California). I wish I could trade the Tokyo session, but I find myself breaking even when I do. Props to all who are successful trading those hours. I make a living off 4 good trades a day.
  • #12
  • Dec 20, 2007 7:47am Dec 20, 2007 7:47am
this pair is not ugly, its disgusting and disoriented......fuj.
its just money
  • #13
  • Dec 20, 2007 12:30pm Dec 20, 2007 12:30pm
This pair is a two-sided sword. Of all JPY crosses, I trade only GBPJPY and EURJPY. At least in my trading method, due to its greater volatility, the profits GBPJPY can make are higher, but for the same reason, the stop-loss I use is almost twice as wide as for EURJPY, so in the end, the latter makes more return per amount risked.
sans peur et sans reproche
  • #14
  • Dec 20, 2007 1:16pm Dec 20, 2007 1:16pm
Quoting Trader KGB
Pip ranges have no meaning in currency comparisons. I don't know why FF members get so hung up on pips for comparisons, in that case, USD/MXN with its 500-1000 pip daily ATR would be king. Comparing pips is apples and oranges.

Percentage ATR is the logical way to compare daily volatility of various pairs. I rarely have ever seen GPY/JPY outperform AUD/JPY or NZD/JPY on a percentage basis. On the same token, AUD/USD and NZD/USD have a higher correlation to USD/JPY than GBP/USD does, which leads to the out performance of those carry crosses vs GBP/JPY.

To correctly rephrase your question - "What other JPY cross has an atr of over 1.3%?" (the percentage equivalent of a 300 pip move on G/J)

The answer would be AUD/JPY, NZD/JPY, and lately, CAD/JPY.

speaking of USD/MXN

NorthFinance: 10.8390/10.8460

MBtrading: 10.8422/10.8427
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  • #15
  • Last Post: Jun 10, 2008 11:22am Jun 10, 2008 11:22am
Quoting de123
i dont trade this pair,..but still would like to coment,...i dont understand why ppl trade this pair,..if the spread is the largest and the moves are more or less similar to other jpy crosses ......ugly indeed.
Moves the same as crosses? You have to be kidding? It USUALLY moves at about 3:1 or so compared to USDJPY and GBPUSD. I have made much more profit trading this pair, inluding a 500 pip day recently. One pair, one trade, 12 hours or so, lol. You have to be vewy vewy caweful with this dog. It'll bite ya bad if you're not careful.
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