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Breeze....Update on GBP/JPY

  • #1,221
  • Jan 24, 2008 11:35am Jan 24, 2008 11:35am
breeze, blanco Bt and I chat live msger, come chat, blancos ([email protected]) come pay us crazy dudes a visit! seeya
  • #1,222
  • Edited 2:47pm Jan 24, 2008 11:52am | Edited 2:47pm
Breeze and company,

First off let me say that this is a very nice thread and all of the material is appreciated. I trade this pair a lot and i have been visiting your site for a fresh perspective for a while now.

Stalling not withstanding, which I know you guys id with your nifty indicator, (still need to take the time to learn that one) It is my estimate this pair has the potential to make it to between 213.50 and 214.50 on this run.

I trade a pretty simple trend breakout system which has a measure rule. On my 4 hours charts this run measures to 213.50 and on the daily it measures to 214.50. Further from this last down run on the dailys.... from the 17th of this month the first fib line back up 38% is right at my daily target... 214.50

Edit: PS: The same rule calls the yen to 108.6 on the 4 hours... however the breakout was kind of weak IMO.

Just my two cents....

Sincerely
Dave
  • #1,223
  • Jan 24, 2008 12:52pm Jan 24, 2008 12:52pm
Quoting pearsonfx

The downside to poor hedging is this. If you sold at the bottom of a swing, and then hedged and bought at the top....then the price continues back towards your initial trade. both trades are floating losses, and you see that the price is going to continue what you thought it would do in the first place, so you decide to take the loss from your hedge trade. If you do this enough times....your account will do nothing but get smaller.....just a thought
Yeah, I've been there, done that!
I really appreciate your explaining this to me! You are most patient! Thanx-ppm
  • #1,224
  • Jan 24, 2008 4:36pm Jan 24, 2008 4:36pm
Quoting Breeze
Hi all I'm hedged @ 209.50......cause I see price going up to 212.00.....and I see NO point of updating my positions or what I do....as I feel like talking to myself here.....so far I'll unhedge @ 210.00...and the reason is....whats the use pf explaining.
lol
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #1,225
  • Jan 24, 2008 6:42pm Jan 24, 2008 6:42pm
Quoting spok
breeze, blanco Bt and I chat live msger, come chat, blancos ([email protected]) come pay us crazy dudes a visit! seeya
Thanx man I'm defenitely coming over.

Breeze
  • #1,226
  • Jan 24, 2008 6:51pm Jan 24, 2008 6:51pm
Quoting moneymagnet
lol
Yeah they just want what you know and never wanna give what they know.....so be it....no wonder other thread starters stop posting now I can feel what they feel.
  • #1,227
  • Jan 24, 2008 7:13pm Jan 24, 2008 7:13pm
Breeze, Sorry if you feel like you are alone in this thread. I'm sure people don't just stay quiet purposely.

Anyway, I'm staying with my analysis yesterday. Target shorting level is around 215-220. I will probably start 215.xx with 20% position then add 217.xx with 30% and 220.xx 50%.

I still see some upside today, so probably no change in my analysis. Monday will be the wild card, as tone might change there, especiall USD/JPY. 215 above is fairly defensive and we may not get it, so be on the outlook. Remember, medium term outlook is still bearish, so best possible entry is not easy to get, might settle a bit at lower entry. Important thing is manage your lot size properly. Dont overleverage. Good trading Breeze and all.
  • #1,228
  • Jan 24, 2008 7:43pm Jan 24, 2008 7:43pm
Quoting Breeze
Yeah they just want what you know and never wanna give what they know.....so be it....no wonder other thread starters stop posting now I can feel what they feel.
You sound so discouraged. I don't know enough about trading to offer any pearls of wisdom to you. If I felt that I had something to share I would. I am new to live trading, and this forum. I have found hope, in your words, and the words of those who respond to your thread. I'm sure there are others, like myself, who are just learning, and feel ill-equipped to offer advice to a "Master" of the game. It has been a real treat to '....brush the hem of your garment....' What I do know, at my advanced age, is that people like yourself, who are willing to share their knowledge and time with others, are rare!
We are not silent because we are stingy with our knowledge. We are silent because we are in awe of yours.
Thank You
ppm
  • #1,229
  • Jan 24, 2008 8:07pm Jan 24, 2008 8:07pm
Breeze: I truly think you were trying too hard to "make up" for the loses before. Like I said, it takes a huge toll on your mind. It makes you do things that you wouldn't normally do. I would advise you to take some time off if you can. And when you do, don't worry about posting here at FF. I know you want to help but you need to worry about yourself and go back to trading like you were. I hope you will think about what I am saying. I truly mean this as I have told you before I want to see you succeed!
  • #1,230
  • Jan 24, 2008 8:07pm Jan 24, 2008 8:07pm
Well, I like this thread, and would love to have this keep going, even if there will be no trade calls in the future, because I come here mostly for analysis of GJ. So, if anything, this thread will still be great to be used for that.
  • #1,231
  • Jan 25, 2008 4:12am Jan 25, 2008 4:12am
Right after Breeze's first losses and ultimate margin call (what ever happened to his hedging?) he claimed he was taking a break for some days.


Hardly a few hours had passed after that statement, and he was back to take revenge on the market. And as the market does to those venturing on revenge trading, it took away everything

Lessons not learned are to be repeated..
  • #1,232
  • Edited 4:28am Jan 25, 2008 4:25am | Edited 4:28am
Quoting Breeze
Hi all I'm hedged @ 209.50......cause I see price going up to 212.00.....and I see NO point of updating my positions or what I do....as I feel like talking to myself here.....so far I'll unhedge @ 210.00...and the reason is....whats the use pf explaining.
Hello everyone looks like I'll be smilling all the way to the "BANK"....I have now unhedged @ 214.00 and I have added a small short position @ 214.00
  • #1,233
  • Jan 25, 2008 4:29am Jan 25, 2008 4:29am
short @

209.10...............active
209.35...............active
208.50 X 10........active
208.10 X 10........active
209.22 X 10........active
214.00...............active.....set a protective stop @ 212.80
  • #1,234
  • Jan 25, 2008 4:30am Jan 25, 2008 4:30am
Hi Grandpa, I hope you are doing well.. good luck
Trade what you see, not what you think.
  • #1,235
  • Jan 25, 2008 4:31am Jan 25, 2008 4:31am
Quoting karmostaji
Hi Grandpa, I hope you are doing well.. good luck
I feel like rocking this chair now kamo....especially when I put more effort on my trades than the forum.....
  • #1,236
  • Jan 25, 2008 4:31am Jan 25, 2008 4:31am
Quoting Breeze
Hello everyone looks like I'll be smilling all the way to the "BANK"....I have now unhedged @ 214.00 and I have added a small short position @ 214.00
not so fast Breeze. The stock market looks to do very well today and could carry it higher.
  • #1,237
  • Jan 25, 2008 4:32am Jan 25, 2008 4:32am
Quoting Breeze
I feel like rocking this chair now kamo....especially when I put more effort on my trades than the forum.....
don't let the market affect your thinking, stay calm and trade wisely
Trade what you see, not what you think.
  • #1,238
  • Jan 25, 2008 4:40am Jan 25, 2008 4:40am
Quoting bmwboyee
not so fast Breeze. The stock market looks to do very well today and could carry it higher.
I'm watching carefully.....
  • #1,239
  • Jan 25, 2008 4:44am Jan 25, 2008 4:44am
Quoting karmostaji
don't let the market affect your thinking, stay calm and trade wisely
Thanx.....man....checkout for my results next month....I still need to build up a lil bit though.....its going to be interesting.
  • #1,240
  • Jan 25, 2008 4:48am Jan 25, 2008 4:48am
short @

209.10...............active
209.35...............active
208.50 X 10........active
208.10 X 10........active
209.22 X 10........active
214.00...............active.....set a protective stop @ 212.80.....Profits Booked

hedged all @ 213.00
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