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Breeze....Update on GBP/JPY

  • #1,021
  • Jan 14, 2008 2:22am Jan 14, 2008 2:22am
Quoting Breeze
I'm still hangin by a thread.....hoping for a miracle here.

Breeze
hope your margin holds up. good luck.
TRADE FOR SWAP
  • #1,022
  • Jan 14, 2008 2:25am Jan 14, 2008 2:25am
GBP is weak and there could be a retracement later but range until 4-8am est more selling... Look at my journal I have better reasons on there for the past few days that shows all trades with +points
Quoting Breeze
I'm still hangin by a thread.....hoping for a miracle here.

Breeze
  • #1,023
  • Jan 14, 2008 6:50am Jan 14, 2008 6:50am
Quoting Breeze
I'm still hangin by a thread.....hoping for a miracle here.

Breeze
Breeze,

IMHO. You need to be hedged up for the week to ride this beast out. Weekly econimical outlook shows the pound slipping. One news in its favour CPI which might create a small retracement due to suspected higher interest rate but all other news are expected to be bad..... For example earlier this morning with the PPI Input and Output news big sell off, unless JPY prime minister makes some announcement to move the market US/GBP favour. Retail Sales after CPI should push the GBP back in its original direction.......DOWN.
  • #1,024
  • Jan 14, 2008 8:01am Jan 14, 2008 8:01am
OMG......below 209....I'm finished....I will have to regroup and Fund the Platform.....back to basics....i made a big mistake by taking off the hedges

Breeze
  • #1,025
  • Jan 14, 2008 8:43am Jan 14, 2008 8:43am
Quoting Breeze
OMG......below 209....I'm finished....I will have to regroup and Fund the Platform.....back to basics....i made a big mistake by taking off the hedges

Breeze
breeze, calm down bud.....we are on an upswing here. I think you might be okay if 209 is your key number. there will be huge support in the 210's.
  • #1,026
  • Jan 14, 2008 5:32pm Jan 14, 2008 5:32pm
Quoting Breeze
OMG......below 209....I'm finished....I will have to regroup and Fund the Platform.....back to basics....i made a big mistake by taking off the hedges

Breeze

Personally I think it is not the hedges that have been the problem, it is not having stop losses. A stop loss is there to admit you got it wrong and it leaves you to be able to trade for another day. Again this is just my opinion.
  • #1,027
  • Jan 15, 2008 9:10am Jan 15, 2008 9:10am
Quoting svengali
Personally I think it is not the hedges that have been the problem, it is not having stop losses. A stop loss is there to admit you got it wrong and it leaves you to be able to trade for another day. Again this is just my opinion.
Hedging/Stop losses should be OK. I believe it is how you use it. I wouldn't do it for intraday. I am Swing trading at the moment. If you are hedge you should have enough money to trade in the new direction of the trend. On the upswing you can recoop your losess with a hedge. With Stop losses when you are stop out it is money loss.

Breeze this may be of interest.

http://www.bloomberg.com/apps/news?p...d=aGyBdYCPUoaM

If BOJ cuts rates to save the US dollar we could see the GBP fall even more. However there might be a rally of GBP if GBP cuts rate in Feb.

We need BOJ to increase rates and then you might see a bearish YEN brought on by Carry Traders or some great fundamental news to get the GBP rocking. IMHO.
  • #1,028
  • Jan 16, 2008 3:48am Jan 16, 2008 3:48am
Quoting Breeze
OMG......below 209....I'm finished....I will have to regroup and Fund the Platform.....back to basics....i made a big mistake by taking off the hedges

Breeze
Breeze,
There is still light at the end of a dark tunnel. You may be down but not out. We only need to learn some lessons.
Regards.
  • #1,029
  • Jan 16, 2008 3:53am Jan 16, 2008 3:53am
Breeze...

You are definitely not starting from square one again....keep an eye on U/J....it looks to be heading down to test the 101 support...this would drive G/J further down to possibly sub 200...198 area....pound has been ranging for the time being.....

The article on Bloomberg was very interesting and could be something to look out for...but right now there are lots of pips to be made to put you back on your feet
The only sovereign I can allow to rule me is reason.
  • #1,030
  • Jan 16, 2008 4:15am Jan 16, 2008 4:15am
Quoting pearsonfx
Breeze...

You are definitely not starting from square one again....keep an eye on U/J....it looks to be heading down to test the 101 support...this would drive G/J further down to possibly sub 200...198 area....pound has been ranging for the time being.....

The article on Bloomberg was very interesting and could be something to look out for...but right now there are lots of pips to be made to put you back on your feet
Personfx,

Great advice. Start shorting and recoop once the margin is there. Keep those hedges (unless you need to kill/close some to trade) and you should be fine. It doesn't make sense removing them for this week. Once it bottoms out there is no where to go except up.
  • #1,031
  • Jan 16, 2008 6:31am Jan 16, 2008 6:31am
Margin Call.....!!!!!!.....Margin Calll.....!!!!!!

209.00

Breeze
  • #1,032
  • Jan 16, 2008 6:45am Jan 16, 2008 6:45am
OK everyone i'm taking this few days off and i'll start posting again next month.....

Breeze
  • #1,033
  • Jan 16, 2008 7:38am Jan 16, 2008 7:38am
Quoting Breeze
OK everyone i'm taking this few days off and i'll start posting again next month.....

Breeze
See you then, Breeze, on the way back up. I never would have expected a 2300 pip drop, now i know anything is possible. We all have learned a lot from you Breeze, see you next month
  • #1,034
  • Jan 17, 2008 10:37pm Jan 17, 2008 10:37pm
Quoting Breeze
Margin Call.....!!!!!!.....Margin Calll.....!!!!!!

209.00

Breeze
still admire u , having a margin call , n having the time to post it here ...

"If you can make one heap of all your winnings
And risk it on one turn of pitch-and-toss,
And lose, and start again at the beginnings
And never breathe a word about your loss..."

taken from IF by Rudyard Kipling
To Live is the rarest thing in the world , Most people exist , that is all
  • #1,035
  • Jan 17, 2008 11:10pm Jan 17, 2008 11:10pm
Quoting Breeze
OK everyone i'm taking this few days off and i'll start posting again next month.....

Breeze

you're right, get some fresh air then start new book again.

good luck...
  • #1,036
  • Jan 18, 2008 1:28am Jan 18, 2008 1:28am
Sounds like someone got Married to a direction? Sorry for your MC Breeze.
This reminds me of a funny photo i posted in the members lounge.

If you end up married you end up with small change
Attached Image
  • #1,037
  • Jan 18, 2008 1:58am Jan 18, 2008 1:58am
Hey Breeze,

Hurry back!
  • #1,038
  • Jan 19, 2008 4:08am Jan 19, 2008 4:08am
How much fund you will deposit now? Hope you could earn more interest this year.But GBP/JPY will drop to 100 by the end of 2008.
Hope to get any comments here
Ele
  • #1,039
  • Jan 19, 2008 12:45pm Jan 19, 2008 12:45pm
I do not think that GBPJPY will reach 100 this year or next....

Looking at support and resistance...there is significant support at 202-203 area...as well as the 207 we are faced last week....

207 was big....202 is bigger, not only that but 202 marks the top of a 1000 pip support zone...I think that GBPJPY will have a VERY hard time getting through that, IF it does....but I cannot predict what the market will do, I will only trade it as it goes....
The only sovereign I can allow to rule me is reason.
  • #1,040
  • Jan 20, 2008 6:11pm Jan 20, 2008 6:11pm
I got Margin Call on 210 areas ..

16 scalp wins on U/J with 2 loss (95% ratio) .....
and 2 huge loss for G/J & G/C..

time for new fund and make millions.
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