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Breeze....Update on GBP/JPY

  • #821
  • Dec 20, 2007 2:19am Dec 20, 2007 2:19am
Quoting fer
hi breeze. thanks for all your updates in here.
today asia has made low of 225.97. does that mean you are already hedged at 226, 12 lots which you are holding long?
personally i see this going up from here. im not sure why you would hedge at 226? please explain why you chose 226 to hedge as i see 225.40 as an area if i were to ever hedge (not that i often do and not that i am holding any postions yet)
thanks in advance
ps-- i am biased for long positions too but waiting for correct, right setup. market is very slow preparing for SANTA. lol

fer
That 225.40 is my lvl of support.....I just added one more last long....the reason we were hit sooooo hard is GBP news......all dust should settle down in a few days.

Profitable Trading
Breeze
  • #822
  • Dec 20, 2007 2:27am Dec 20, 2007 2:27am
The reason many traders loose money when the market goes against them...is that they turn to panic mode and start doing stupid mistakes.....in every situation whether its life or death when you stay calm...you'll always come out a winner....but once you panic...u loose control and all hell breake loose.....Discepline needs to be applied together with moneymanagement.

Breeze
  • #823
  • Dec 20, 2007 2:30am Dec 20, 2007 2:30am
long @

228.00................active
228.22................active
228.50................active
229.00................active
228.40 X 5...........active
227.50.................active
227.80.................active
226.40.................active
226.80.................active
227.00.................active
225.40.................active

lets see if we can get good interst for this week....target projection @ 231.00-233.00

Breeze
  • #824
  • Dec 20, 2007 2:33am Dec 20, 2007 2:33am
Breeze, I'm long too, mainly because I think the GBP is oversold at the moment, but do you really think that TP @ 231.00-233.00 is possible in the near term ?
  • #825
  • Dec 20, 2007 5:02am Dec 20, 2007 5:02am
Quoting MMTom
Breeze, I'm long too, mainly because I think the GBP is oversold at the moment, but do you really think that TP @ 231.00-233.00 is possible in the near term ?

GBP is the cause of this move lower....however recorvery is in the making as I type.....just check your daily chart....were moving on up very soon.(GBP/JPY)

Breeze
  • #826
  • Dec 20, 2007 5:06am Dec 20, 2007 5:06am
is everyone trying to catch falling knives here? A very risky game unless you are clever at hedging like Breeze, and have the margin to sustain it.
TRADE FOR SWAP
  • #827
  • Dec 20, 2007 5:11am Dec 20, 2007 5:11am
Quoting cgldsmth
is everyone trying to catch falling knives here? A very risky game unless you are clever at hedging like Breeze, and have the margin to sustain it.
I think they did hedge @ 226.00.....but I have now unhedged @ 225.40.

Until further notice.

Breeze
  • #828
  • Dec 20, 2007 5:13am Dec 20, 2007 5:13am
what's your current drawdown?
TRADE FOR SWAP
  • #829
  • Dec 20, 2007 5:16am Dec 20, 2007 5:16am
Quoting cgldsmth
what's your current drawdown?
I'm Bleeding......RED BLOOD....thats all I can say...

Breeze
  • #830
  • Dec 20, 2007 8:36am Dec 20, 2007 8:36am
Quoting Breeze
I'm Bleeding......RED BLOOD....thats all I can say...

Breeze
Those -300 pips would freak me out on a major position..Thank God For Stoploss. Good Luck in your Trading Grandpa
  • #831
  • Dec 20, 2007 9:02am Dec 20, 2007 9:02am
Quoting Breeze
I'm Bleeding......RED BLOOD....thats all I can say...

Breeze
Still bleeding... going down 100 pips more.... QQE already oversold, pysh. trying to close below 50 line.... what a sign? Argh........
  • #832
  • Dec 20, 2007 5:06pm Dec 20, 2007 5:06pm
Quoting HnP
Still bleeding... going down 100 pips more.... QQE already oversold, pysh. trying to close below 50 line.... what a sign? Argh........
looking the retracement is starting...
  • #833
  • Dec 20, 2007 9:46pm Dec 20, 2007 9:46pm
Quoting forexnovice
Those -300 pips would freak me out on a major position..Thank God For Stoploss. Good Luck in your Trading Grandpa
I'm still hangin with a thread....unfortunately I cant ADD anymore positions as I dont want to gamble.

Breeze
  • #834
  • Dec 20, 2007 9:48pm Dec 20, 2007 9:48pm
Quoting HnP
looking the retracement is starting...
I watched it go down helplessly.....without sayin a word.....its much better now....Patience Patience {Patience....i might just have to hold until next year.....but I'll earn more interest.

Breeze
  • #835
  • Dec 20, 2007 9:52pm Dec 20, 2007 9:52pm
I am with you Breeze. I am holding on to my longs too. Earning intereset. Hurts though missing out on nice short opportunities. I still think we'll see 230-231 before end of month. This purely based on technical. If you look at monthly charts we are still in range to hit 5SMA close which is at around 232.50'ish. Lets see anything is possible.
  • #836
  • Dec 20, 2007 9:52pm Dec 20, 2007 9:52pm
long @

228.00................active
228.22................active
228.50................active
229.00................active
228.40 X 5...........active
227.50.................active
227.80.................active
226.40.................active
226.80.................active
227.00.................active
225.40.................active

target projection @ 231.00-233.00

Breeze
  • #837
  • Dec 20, 2007 9:57pm Dec 20, 2007 9:57pm
Ouch! thats a huge negative drawdown. Hope you took some Karmo patience pill
  • #838
  • Dec 20, 2007 9:58pm Dec 20, 2007 9:58pm
Quoting vinesh2
I am with you Breeze. I am holding on to my longs too. Earning intereset. Hurts though missing out on nice short opportunities. I still think we'll see 230-231 before end of month. This purely based on technical. If you look at monthly charts we are still in range to hit 5SMA close which is at around 232.50'ish. Lets see anything is possible.
I acctually took off my hedges too early....sometimes I get a bad signal of support lvl....so next time I'll be carefull....I'm holding on too brother.....look at your daily channel, it will give you a projection of 231.20

Breeze
  • #839
  • Dec 20, 2007 10:00pm Dec 20, 2007 10:00pm
Quoting vinesh2
Ouch! thats a huge negative drawdown. Hope you took some Karmo patience pill
I'm down on my knees.....

Breeze
  • #840
  • Dec 20, 2007 10:06pm Dec 20, 2007 10:06pm
ok here on hourly
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