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GBPJPY scalpers

  • #2,521
  • Apr 21, 2008 10:49pm Apr 21, 2008 10:49pm
Obviously you are having problem downloading client. Download client then logon and then enter room. Not open until 4.30 am PST
  • #2,522
  • Apr 21, 2008 10:56pm Apr 21, 2008 10:56pm
Quoting janela
Obviously you are having problem downloading client. Download client then logon and then enter room. Not open until 4.30 am PST
i've made 100 attempts to download the driver..

and yet still fail..

anybody having the same problem?
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  • #2,523
  • Apr 22, 2008 8:57am Apr 22, 2008 8:57am
Quoting popisdead
i've made 100 attempts to download the driver..

and yet still fail..

anybody having the same problem?
If you are using Firefox try IE.
  • #2,524
  • Apr 22, 2008 9:02am Apr 22, 2008 9:02am
Quoting janela
Obviously you are having problem downloading client. Download client then logon and then enter room. Not open until 4.30 am PST
its my firewall!
its OK now!

one more thing..
can somebody let me know..what is the time in Malaysia for 4.30 am PST??

pid
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  • #2,525
  • Apr 22, 2008 11:33am Apr 22, 2008 11:33am
I don't know.

But if you know how your time compares to New York, which is est. then just subtract 3 hours from est(eastern standard time) to get pst(pacific standard time).
  • #2,526
  • Apr 22, 2008 2:07pm Apr 22, 2008 2:07pm
Bull flag forming

We might get a retracement back down into 204.7 area. I am then favouring a break out of the 205.5 pivot point .

This is a classic bull flag formation before the next leg up

Attached Image (click to enlarge)
Click to Enlarge Name: gj118.png Size: 159 KB

Attached Image (click to enlarge)
Click to Enlarge Name: gj120.png Size: 176 KB
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  • #2,527
  • Apr 22, 2008 2:14pm Apr 22, 2008 2:14pm
Quoting malcolmb14
Bull flag forming

We might get a retracement back down into 204.7 area. I am then favouring a break out of the 205.5 pivot point .

This is a classic bull flag formation before the next leg up

Attachment
Attachment
sorry malcomb..

im very new to your thread!

may i know..what tf is the chart posted?

sorry ..

pid
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  • #2,528
  • Apr 22, 2008 2:30pm Apr 22, 2008 2:30pm
Quoting popisdead
sorry malcomb..

im very new to your thread!

may i know..what tf is the chart posted?

sorry ..

pid
top is 60 min , bottom is 5 min
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  • #2,529
  • Apr 22, 2008 5:16pm Apr 22, 2008 5:16pm
Quoting malcolmb14
congrats ? it worked out for rram .. he holds trades with 400 - 800 pip draw downs. That is one sure way to wipe out an account.

He was lucky
I have been lucky this week too! So far I have over 1200 pips for the week and my drawn down is currently only 1600 pips ANd to top it off GJ is heading north at least MT.
  • #2,530
  • Apr 22, 2008 5:19pm Apr 22, 2008 5:19pm
Quoting zebra7860
THEGBPJPY will be up 1000 pips at 208.52, and these measured moves will are evident everywhere. It sure looks like this level will be the barrier.

If you take a look over many charts, especially Feb 26, 2008 to March 3, 2008, you would also see another run of 1000 pips before exhaustion and a pause.

Al
I am glad we agree!
  • #2,531
  • Apr 22, 2008 5:23pm Apr 22, 2008 5:23pm
Quoting malcolmb14
Bull flag forming

We might get a retracement back down into 204.7 area. I am then favouring a break out of the 205.5 pivot point .

This is a classic bull flag formation before the next leg up

Attachment
Attachment
I already have my orders all the way down to 204.7 and below and my highest long is at 207.99, But she should sail way above that before week end.

She has kind of been dragging all afternoon it seems though.
Perhaps we will get a break out when LOndon opens
  • #2,532
  • Apr 22, 2008 6:50pm Apr 22, 2008 6:50pm
Quoting rrram2
I have been lucky this week too! So far I have over 1200 pips for the week and my drawn down is currently only 1600 pips ANd to top it off GJ is heading north at least MT.

So in other words you are down for the week so far... 1600 pips draw down... unreal ! You have 1200 in realized profit and 1600 in unrealized....so down 400 from my calculations.

I guess your trading style works for you. but it would drive me to an early grave ....lol

look at an 8 hour chart and tell me gj is going up. some suspicious looking candles there the last two bars.
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  • #2,533
  • Apr 22, 2008 6:57pm Apr 22, 2008 6:57pm
Quoting rrram2
I already have my orders all the way down to 204.7 and below and my highest long is at 207.99, But she should sail way above that before week end.

She has kind of been dragging all afternoon it seems though.
Perhaps we will get a break out when LOndon opens
If this is in fact a bull flag it might rip up some time overnight.

Apple earnings are out tomorrow morning and are much anticipated. The stock has gained 45% the last 2 months based on them being good.

This might not take the dj-30 or s&P up , but will have some effect on the Nasdaq.

I hope it does as I know you love those longs
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  • #2,534
  • Apr 22, 2008 7:50pm Apr 22, 2008 7:50pm
looks like it broke up out of a 15 min pennant. whatcha think malcolm
  • #2,535
  • Apr 24, 2008 6:27am Apr 24, 2008 6:27am
Quoting malcolmb14
So in other words you are down for the week so far... 1600 pips draw down... unreal ! You have 1200 in realized profit and 1600 in unrealized....so down 400 from my calculations.

I guess your trading style works for you. but it would drive me to an early grave ....lol

look at an 8 hour chart and tell me gj is going up. some suspicious looking candles there the last two bars.
All my TP targets have been getting hit for 3 weeks! so You want the real stats?> 629 RT trades for APRIL yielded OVER 7500 pips including TODAY
down unrealized 3000 pips. So for April it is 7500 - 3000 for a 4500 pip profit for 3 weeks.

After looking at the 8 hour, it does look wierd, But I still think up look at the Stoch RSI 14, 14, 3 ,3 looks like it is almost at 0, looks to be very oversold
to me. And youknow what I am expecting it to bottom out here very soon.
And then she will be likely be heading up 800 pips is my take
(same thing I have been saying all week in my thread). Only time will tell.
But the folks in my thread are making hundreds of pips a night adapting my style.

Don't discount the FACT that the fed is printing dollars literally 24/7
Inflation is coming before year end. And UJ is recovering and surging up.
If GU remains flat and UJ goes up, GJ has to go up. Only time will tell.
  • #2,536
  • Apr 24, 2008 6:30am Apr 24, 2008 6:30am
Quoting malcolmb14
If this is in fact a bull flag it might rip up some time overnight.

Apple earnings are out tomorrow morning and are much anticipated. The stock has gained 45% the last 2 months based on them being good.

This might not take the dj-30 or s&P up , but will have some effect on the Nasdaq.

I hope it does as I know you love those longs
I am expecting like I said 800 pips up (before week end) and just thought London may run it up for us, so when all the bears wake up they stopped out on thier shorts.
  • #2,537
  • Apr 24, 2008 5:22pm Apr 24, 2008 5:22pm
Its looking a whole lot more bullish now eh? I made 144 pips just on one order today while I was away. I don't know how this order slipped through
normally I have them set to TP way before that. I am trying for about 30 pips these days per order.
  • #2,538
  • Apr 27, 2008 2:22pm Apr 27, 2008 2:22pm
gbpjpy 60 min long set up .

regular rsi crossing up thru 60 on last hour of Friday ,
entry is 207.91 plus spread .

t01 = 208.75
t02 = 211

stop is fe 38.2 at 207.30

Attached Image (click to enlarge)
Click to Enlarge Name: gj09.jpg Size: 203 KB
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  • #2,539
  • Apr 30, 2008 4:34pm Apr 30, 2008 4:34pm
Has this thread stopped now?
Tom(uk)
  • #2,540
  • Apr 30, 2008 7:15pm Apr 30, 2008 7:15pm
“Winner, Winner, Chicken Dinner!” is a familiar phrase to devoted blackjack players around the world. It has also been made popular by the recent movie “21” which was based on a group of math students from MIT in the 70’s that took Vegas by storm and relieved the “house” of millions in a short period of time.

It was not a glorification of gambling at all, it was in fact testimony to how lucrative a deliberate system can be. It was not easy. They had to practice intensely and refine their skills. In the end, they did very well.

So, I am quick to say Forex trading is NOT gambling! Well….. it could easily be gambling without the proper study and preparation. It is the preparation that turns the tide of risk to our favor.

So let’s take a quick look at the last couple of days. Fundamentally speaking we would expect the GJ to go up based on speculation of FOMC announcement. But wait a minute! The GJ is already higher than it has been in months. So do we buy early in the week knowing it has a very good chance to rise to the FOMC statement? I say the answer would be yes if the GJ was a few hundred pips lower. But it wasn’t. At the NY close on Monday of this week Price was trading in the area of 207.44 so a 300-400 pip run up would score a new high and the market right now is still shaky. So how does a big bank or hedge fund use that information to their advantage? How about a 24 hour sale on GJ? The sell-off over the next 24 hours landed a low in the area of 203.30 and the Asian session on Wednesday sent price back down to the 203.75 area.

Now there is room for a run up for the "Big boys" without paying too high a price for the currency. The total move up on Wednesday matched Tuesday’s high almost to the pip so there was no inflated price from speculation but there was a 400 pip run from bottom to top. Let’s recap. The “Big Boys” get the ball rolling with a few sells. Retail traders say “a sale!” and join in. Price reaches a good buy level and "Big Boys" buy the GJ back at a better price. The upward movement is then fueled not only by buyers but by the sellers who didn’t realize what was happening and had to cover their positions as the market drifted away from them. “Winner, Winner, Chicken Dinner!” for the prepared.

Does the market play out this way every week? Can I set my watch by it? Can I automate the process so I can sleep my way to riches? The answers are NO, NO and NO. As I said it depends going into the session where price is already and what the market sentiment is surrounding the time. These are two driving factors. Last spring when GJ was in that strong bull trend there probably wouldn’t have been a sell-off at all.

So does that mean I shouldn’t take a sell in a situation like that? I did. But you do have to know what is most likely going on and you have to get in at a good price knowing that you better be out of that trade before the market turns which in this case the night is before. Of course the pending buy was the big pay day. Let’s keep our eyes on the market and the charts. Preparation + Opportunity = Luck.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gj 1 hour a.gif Size: 54 KB
Click to Enlarge Name: gj 1 hour b.gif Size: 53 KB
Click to Enlarge Name: gj 5M c.gif Size: 54 KB
Energy and persistence conquer all things! Ben Franklin
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