Breeze....Update on GBP/JPY

the momentum was simply a trap for shorts it was very clear on the "DAILY"...this pair is heading back to 2.0000 and EUR back to 1.6000....and NZD to 8.000

I also have a large YEN order below 102.00 will let you know when it gets filled.....although I have this order its still very dangerous to short USD/JPY

Breeze
Market Master

ok here we go again............

I would like to know this master that is right 90% of the time

Update on Positions

long @

204.80.............................Prfts booked @ 206.00
204.00.............................Prfts booked @ 206.00
204.80.............................Prfts booked @ 206.00
205.20 X 10......................set a protective stop @ 207.00...Prfts booked
205.18 X 10......................set a protective stop @ 207.00...Prfts booked
205.17 X 10......................set a protective stop @ 207.00...Prfts booked
205.00 X 10......................Prfts booked @ 206.00
206.00.............................set a protective stop @ 207.00...Prfts booked
207.00
207.48
207.80.........waiting
208.00.........waiting
208.22.........waiting

long YEN @

102.90............................set a protective stop @ 104.30...Prfts booked
103.02.........very heavily...set a protective stop @ 104.30...Prfts booked
103.72.........very heavily...set a protective stop @ 104.30...Prfts booked
103.33.........very heavily...set a protective stop @ 104.30...Prfts booked

long NZD @

7876 X 10
7873 X 10
7835 X 20

Breeze
Market Master

It feels good to make money sometimes......goodnite everyone....i'll see you on monday morning...."God Bless"

Breeze
Market Master

xxx-ooo

I was thinking about the post on hedging below and although I'm not the greatest at hedging I believe I've found some bits of information that may help one become more proficient at the art of hedging. Of course there are in the least hundreds, even thousands of possible hedging techniques, the one I'm talking about below only takes into account a 1 to 1 hedging ratio, shorting against a long gone bad or visa versa.

Since we normally take original positions based on personal choices according to certain S/R values, we also choose where to call it quits and accept some pre-determined acceptable loss in order to preserve capital.

When deciding to use hedge in place of stop loss the hedge should be treated as a complete and separate trade although it is tied to the original trade, the two trades are never the less, individual.

One of the reasons and in fact I believe the greatest reason for failed hedging attempts is once our pre-determined stop has been breeched and our hedge is in place, we get the god aweful feeling that maybe we've made a mistake. Maybe our price was just about to turn back around in our favor.
So we begin to lement price like a tightly wound spring poised and ready with our finger on the trigger ready to snap closed the hedge WE JUST OPENED at the first sign of our original trade gaining back some of it's losses while noticing the hedge position begining to score it's own losses. We have already forgeton the reasons we hedged in the first place. So we nervously close the hedge only to find that price took that small advance based on short covering and is now falling against your 1st position faster than ever.

Sound familier? The key to hedging is in 3 parts:

1. Hedging is the art of elimininating loses on that trade BUT NOT NECESSARILY MAKING PROFIT on that trade. You hedge to STOP ALL LOSSES, that's it! Anything more than that is just unexpected cherry on the pie. Obviously, if you can stop all losses, you can only make money on the good trades from there.

2. All hedging does is BUY YOU TIME. Time to allow market conditions to change. Time to get a clear head. Time to simply stop your trading world from depleting your account while in hope mode. Remember, once you hedge, you are in essence abandoning your original prediction or timing. You are admiting that you were wrong (this time) and the thought of still being right must be trashed. It's time to wait for an entirely new setup before unleashing that position again. This could take in the least hours but more likely days, weeks or even months. I've personally observed Breeze wait on a hedge for several months in the past and come out smelling like a rose.

3. When you pull the trigger on a hedge, you better have a plan in hand. This means you don't sit and watch that hedge like a chicken about to lay an egg. You put it on the back burner knowing market circumstances change and sooner OR LATER you will see a prime setup where you can finally release that hedge; by the way, the way I see it, when you're hedged on a trade, either side can now become the hedge or the trade since they're the opposite sides of the same equilibrimum coin so you can look for a prime setup going either way. The main key here is patience in waiting on a really prime setup. Once you set your hedge, this becomes a potentially long term situation so sit back, take a walk, go to work or whatever. It's time to let the market psychology change so you can stack the deck in your favor again.

Now since a hedge position can not lead to both sides of the hedge posting losses, if the original 1st position begins to gain back some losses while the hedge position begins to post a loss, great, no problem, that's the way it's supposed to be because again, you're looking for a 80-90% setup probability to get back in again. You are not looking to try to make back that loss based on the original losing setup right? That's the setup that got you in the losing position in the first place, just blow that one off and wait for a good one.

If say price continues against the first losing position, this means the hedge is gaining right? Great! Just wait for the right setup and release the correct side of the hedge at the right time knowing you have years if necessary to make that decision.

I know there is much more to the art of hedging than explained above but I believe the above might help explain some elemental key basic points necessary to allow one (especially newer people to hedging) to have at least a resonable chance of hedging successfully.

N

Nice TraderJoe nice

Breeze

Hi, breeze, may I ask you a few questinos?
when you say long YEN, do you mean long USD/YEN?
and when you say profits booked @ ...., do you mean the position has been closed with a profit?
and when you say "set a protective stop @...", do you mean your Take/Profit or your target is ...?

Thanks a lot!

long YEN...............long USD/JPY
prfts booked @.......position closed @
set a protec stp @..you protect your profits by seting a stop loss.....I only do it when I'm in profits.
target/take prfts....................my strategy is book/take prfts @ 109pips prfts.....thats my advice to everyone

hope this helps

Breeze
Market Master

ok now lets take a look @ the NZD.....

Am I getting closer?

thanks Breeze. Your thread title is Geppy. So is 109 pips profit taking only for Geppy or is it also for other pairs? do you sometimes short Geppy and other pairs with negative interest (roll over)?

Seems you didn't set up 109 pips profit taking in the first instance, as some of your protective stop loss is bigger than 109 pips. I wonder when you close your positions at 109 pips and when you let it run beyond it?

Thanks again.

You're almost there......I still have open unhedged positions from 211/210 and so on.....and the hedges have made a lot of money for me.....I've been hedging and unheging with the last hedge closed @ 198+....now when you unhege thats when you grow your margin and profits starts to build up.....

Hey Mr G....how is it going....?.....makan....dido...

hello:
thank you for threads.

how about NZD at next week.

I still follow your thread, because I trust you.

Thank you for your working.

i dont know how the hell did i miss this post.....is it up and running yet....?

Trust no one but yourself especially with your own money.....believe me dont put your trust on me.....I make huge mistakes sometimes.

Positions

long @

204.80.............................Prfts booked @ 206.00
204.00.............................Prfts booked @ 206.00
204.80.............................Prfts booked @ 206.00
205.20 X 10......................set a protective stop @ 207.00
205.18 X 10......................set a protective stop @ 207.00
205.17 X 10......................set a protective stop @ 207.00
205.00 X 10......................Prfts booked @ 206.00
206.00.............................set a protective stop @ 207.00
207.00
207.48
207.80.........waiting
208.00.........waiting
208.22.........waiting

long YEN @

102.90............................set a protective stop @ 104.30...Prfts booked
103.02.........very heavily...set a protective stop @ 104.30...Prfts booked
103.72.........very heavily...set a protective stop @ 104.30...Prfts booked
103.33.........very heavily...set a protective stop @ 104.30...Prfts booked

long NZD @

7876 X 10
7873 X 10
7835 X 20

Breeze
Market Master