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GBPJPY scalpers

  • #301
  • Mar 5, 2008 12:30pm Mar 5, 2008 12:30pm
The power of Visualization is a powerfull think..

Demo or not you are trading with 100lots...

BTW Up 257 Pips for today, I am closing for today..

C'ya guys for London...

  • #302
  • Mar 5, 2008 12:39pm Mar 5, 2008 12:39pm
The arguement was with Costa ( trading partner) is not if we could get in and out , but could would our mind lest us trade with 100 lots. You go down 20 pips , that is 20 k lol .

I know it is only a demo.

But stick to a trading plan and run with it.

257 pips... very nice

Just closed my last short of 74 pips right on target as per last posting.

I might be done also ....made a killing on gold futures today.
Blogging daily now at www.volume.zone
  • #303
  • Mar 5, 2008 12:45pm Mar 5, 2008 12:45pm
YM H8 ... dj - 30 emini are insane today ... insane I tell ya

How insane ... 400 point move. The last move down was short off the double top I am still in. 12335 was the short .... right now at 12157. Only 180 pips.

Any one wanting to get into futures trading i will pass what I know on.

I am new to futures but the charts and triggers are just like the ones i use for forex.

STOXX50 (Euro 50 index) is supposed to be as insane as YM (dj-30 emini) is during the US session.
Blogging daily now at www.volume.zone
  • #304
  • Mar 5, 2008 12:49pm Mar 5, 2008 12:49pm
Quoting malcolmb14
YM H8 ... dj - 30 emini are insane today ... insane I tell ya

How insane ... 400 point move. The last move down was short off the double top I am still in. 12335 was the short .... right now at 12157. Only 180 pips.

Any one wanting to get into futures trading i will pass what I know on.

I am new to futures but the charts and triggers are just like the ones i use for forex.

STOXX50 (Euro 50 index) is supposed to be as insane as YM (dj-30 emini) is during the US session.
Yes, definitly, I'll talk with you Tomorrow.. I would like to learn...

thnks
  • #305
  • Mar 5, 2008 12:51pm Mar 5, 2008 12:51pm
Quoting malcolmb14
YM H8 ... dj - 30 emini are insane today ... insane I tell ya

How insane ... 400 point move. The last move down was short off the double top I am still in. 12335 was the short .... right now at 12157. Only 180 pips.

Any one wanting to get into futures trading i will pass what I know on.

I am new to futures but the charts and triggers are just like the ones i use for forex.

STOXX50 (Euro 50 index) is supposed to be as insane as YM (dj-30 emini) is during the US session.

The entry for gold this morning at 965 was from a 3 min rsi crossing up thru 30 trigger on a 3 min chart. i did not get a sell trigger till 985
Blogging daily now at www.volume.zone
  • #306
  • Mar 5, 2008 1:01pm Mar 5, 2008 1:01pm
Quoting malcolmb14
The entry for gold this morning at 965 was from a 3 min rsi crossing up thru 30 trigger on a 3 min chart. i did not get a sell trigger till 985
5 contracts at $500 per $1 move. That is what I was trading this morning.

Nice day. My down side risk was $3 (1500 for 10,000 reward).

I had not idea Gold was going to take off ... just pure luck. I did have an upside target of $700.

If you guys find this stuff interesting .. let me know. If not I will keep postings to GBPJPY only.
Blogging daily now at www.volume.zone
  • #307
  • Mar 5, 2008 1:01pm Mar 5, 2008 1:01pm
Most forex platforms have XU on them (gold spot cash)
Blogging daily now at www.volume.zone
  • #308
  • Mar 5, 2008 1:03pm Mar 5, 2008 1:03pm
Right AGAIN Malcolm!

Well we had a bounce of the 30 min 200EMA it was also where it dropped off on Sunday. By the looks of it it will go down on it's second attempt. Your 4hr on post 293 shows the down potential. What are your re-entry targets?

Alex
Think BIG!
  • #309
  • Mar 5, 2008 1:54pm Mar 5, 2008 1:54pm
Quoting malcolmb14
5 contracts at $500 per $1 move. That is what I was trading this morning.

Nice day. My down side risk was $3 (1500 for 10,000 reward).

I had not idea Gold was going to take off ... just pure luck. I did have an upside target of $700.

If you guys find this stuff interesting .. let me know. If not I will keep postings to GBPJPY only.
If you could post more gbp/jpy examples of triggers from rsi and the open range entries.....I would be mucho appreciative. Examples of exits would be a plus too!
  • #310
  • Mar 5, 2008 2:46pm Mar 5, 2008 2:46pm
Malcolmb,

Thanks for your trading info ,especially the futures side.Looking at the charts the futures seam to have better manners than forex.
I will follow your posts with interest.

Thanks
  • #311
  • Mar 5, 2008 3:22pm Mar 5, 2008 3:22pm
Quoting 1ADB
Right AGAIN Malcolm!

Well we had a bounce of the 30 min 200EMA it was also where it dropped off on Sunday. By the looks of it it will go down on it's second attempt. Your 4hr on post 293 shows the down potential. What are your re-entry targets?

Alex
Alex as we spoke about i think we should see if we hit that 208.5 zone on the 4 hour (50% fib retracement of drop 213.5 to 203.5 and the 50 sma).

Lets see what happens from there.

I am flat on position trades right now as I feel there is another 1000 pip drop coming.
Blogging daily now at www.volume.zone
  • #312
  • Mar 5, 2008 3:26pm Mar 5, 2008 3:26pm
Quoting malcolmb14
5 contracts at $500 per $1 move. That is what I was trading this morning.

Nice day. My down side risk was $3 (1500 for 10,000 reward).

I had not idea Gold was going to take off ... just pure luck. I did have an upside target of $700.

If you guys find this stuff interesting .. let me know. If not I will keep postings to GBPJPY only.
I especially like the other stuff because it helps with GBPJPY trading. A chart is a chart is a chart. We can trade ANYTHING because the principles are similar.

Thanks for a wonderful thread.
  • #313
  • Mar 5, 2008 3:57pm Mar 5, 2008 3:57pm
Can never learn too much. Please keep sharing all the great examples and results of your trades. I have been demoing for the past five months and I am getting ready to start using my live account next week. Your thread is boosting my confidence and demo results.

Once again thanks...

BTW, attached are a couple of RSI indicators for MT4 that resemble the RSI on your platform. Also, it appears you are using a modified (albeit standard for your platform) RSI equation. The standard Wilder's RSI equation has been modified in the attached RapidRSI indicator. This RSI more resembles your RSI results. Explanation is also attached. One of the other indicators just paints tops passing levels you define and the other is a great bulls/bear RSI indicator.

All the best!

Regards,
DAve
Attached File(s)
File Type: mq4 TP RapidRSI.mq4   2 KB | 526 downloads
File Type: doc Rapid RSI.doc   641 KB | 945 downloads
File Type: mq4 Color RSI v1.01.mq4   11 KB | 527 downloads
File Type: mq4 RSI-TC.mq4   5 KB | 471 downloads
  • #314
  • Mar 5, 2008 4:02pm Mar 5, 2008 4:02pm
I know this is the GBPJPY traders forum , but trading is trading and profit is profit , so i may digress into other pairs and trading vehicles.

This is like the beast GBPJPY ... but no one talks about it , but as you can see from the charts it is much more orderly.

I like to position trade this one with a loose stop (200 pips) .

My last trade was a 400 pip trade in a week , max draw down 100 pips at the beginning of the trade.

Here is a trade trigger on a 6 hour chart. The trigger bar low is 1.5047 (rsi corssing down thru 60 trigger). For entry I will go 60 pips lower , say 1.4980 as this is under the downward trend line.

Target for this trade is the bottom of the channel at 1.4730.

Attached Image (click to enlarge)
Click to Enlarge Name: Chart10.JPG Size: 161 KB
Blogging daily now at www.volume.zone
  • #315
  • Mar 5, 2008 4:06pm Mar 5, 2008 4:06pm
Quoting entropy
Can never learn too much. Please keep sharing all the great examples and results of your trades. I have been demoing for the past five months and I am getting ready to start using my live account next week. Your thread is boosting my confidence and demo results.

Once again thanks...

BTW, attached are a couple of RSI indicators for MT4 that resemble the RSI on your platform. Also, it appears you are using a modified (albeit standard for your platform) RSI equation. The standard Wilder's RSI equation has been modified in the attached RapidRSI indicator. This RSI more resembles your RSI results. Explanation is also attached. One of the other indicators just paints tops passing levels you define and the other is a great bulls/bear RSI indicator.

All the best!

Regards,
DAve
Looksl ike that rapid rsdi is the one in esignal..

What is the best free charting application to use it in?
Blogging daily now at www.volume.zone
  • #316
  • Edited 4:34pm Mar 5, 2008 4:31pm | Edited 4:34pm
I been trading for years with forex.com which has its advantages but mostly it has its disadvantages. So I swithched to this Global Trading System Pro which comes with FX accucharts which is what it looks like you use.

I just like to get used to a new trading platform for at least 50 round turn trades.

I have yet to find a good broker and have used many. My uncle swears MB trading is the best, But I don't know about that charging a $5 or $10 round turn commission for each 100K lot irregardless of what the spread is.
MB claims to not trade against you like most other brokers but I don't know.

I am impressed with the GTS Pro in that they allow hedging and don't stick you to the FIFO rule.
Which is how I am sitting on that losing order so long. I hate stop loss orders but in this pair it seems like a must.
  • #317
  • Mar 5, 2008 5:18pm Mar 5, 2008 5:18pm
4 hour chart shwoing the bear flag.

The interesting thing about the 4 hour is the double spinning top dojis right under the 38% Fib retracement, the 2nd one being an inside bar as well. If I saw this pattern in a stock I would be shorting the hell out of it,

I have heard GBPJPY is notorious for fake out doji's . Can anyone tell me of their experience with this ?

We will either break out of 207.31 overnight if GBP interest rate is good and test 50 % fib at 208.5 ish , or the double dojis will play out and we test 205.5 zone. If 205.5 zone is broken hold on for the ride.

Attachment
Blogging daily now at www.volume.zone
  • #318
  • Mar 5, 2008 5:38pm Mar 5, 2008 5:38pm
Total pips for the YM (DJ-30 emini) was 730 pips move today ...

730 pips

My girlfriend in her second day of trading scored 140 pips.

(master very proud of grasshopper).
Blogging daily now at www.volume.zone
  • #319
  • Mar 5, 2008 5:44pm Mar 5, 2008 5:44pm
M,
Do you get 50% of her pips or does she get 50% of yours. that is how it is in the US, as I am sure you are aware. Actually, since you are in Canada, I guess the gov't. gets about 80% and you two split the rest...
Am I close on that?!? LOL
  • #320
  • Mar 5, 2008 6:13pm Mar 5, 2008 6:13pm
Quoting PipAV8tor
M,
Do you get 50% of her pips or does she get 50% of yours. that is how it is in the US, as I am sure you are aware. Actually, since you are in Canada, I guess the gov't. gets about 80% and you two split the rest...
Am I close on that?!? LOL
She ...err.... pays me in other ways.....lol

Ah one day ,my friend, I will tell you of my Canadian Tax free trading techniques . But if I let the cat out of the bag the Canada Revenue Agency will liekly change the rules on me.
Blogging daily now at www.volume.zone
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