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Breeze....Update on GBP/JPY

  • #3,701
  • Aug 22, 2008 11:58am Aug 22, 2008 11:58am
Update on Positions

GBP/JPY long @
205.50 X 10.........active
205.80 X 10.........active
206.00 X 10.........active
206.22 X 10.........active
206.50 X 10.........active
203.00 X 10.........active
204.00 X 10.........active
204.50 X 10.........active
204.80 X 10.........active
203.66 X 10.........active

GBP/USD long @
9470 X 10...........active
9752 X 10...........active
9580 X 10...........active
8560 X 10...........active....put a protective stop @ 8700...Prfts booked

Note all hedged at 1.8700......till furhter notice.....GBP/USD might be heding for 1.8000

Breeze
Market Champion.....Market Master....Market Olympian....Market Genius....Master of the Beast
  • #3,702
  • Aug 22, 2008 12:03pm Aug 22, 2008 12:03pm
Interest pay will be good on those GBP/JPY longs....
  • #3,703
  • Aug 22, 2008 12:07pm Aug 22, 2008 12:07pm
Don't listen to this JOKER
  • #3,704
  • Aug 22, 2008 12:12pm Aug 22, 2008 12:12pm
Quoting treadline
hello there breeze hows it going. hope all is well from your side. not bad here as made some nice pips on the way down and up. so according to your pound indicator we are not heading below 200 but up? just some info is all i need. wished i longed at the bottom but oh well. no harm done. take care man.
I'm expecting USD/JPY above 112.00 some time soon and Geppy target @ 210.plus.....lets see how it plays out on Monday.
  • #3,705
  • Aug 22, 2008 12:15pm Aug 22, 2008 12:15pm
Goodnite everyone....see you all on Monday.
  • #3,706
  • Aug 22, 2008 2:30pm Aug 22, 2008 2:30pm
Thanks Treadline,

I have found the Psych line indicator where you indicated. My broker is Alpari as is a UK broker on the Metatrader4 platform. Thanks for the tip on Hedging my positions. But would you not trade with hedging to specific rules to get in and/or to get out of a position... Any further insights would be appreciated. How did you turn around your losing hedge positions into winning ones?

Have a great weekend to all!


Quoting treadline
hey sirpips look at the top right corner and you will see a paperclip and can find the psych indi there. hedging can be dangerous if you dont know what your doing. you have to know when to get out thats the most important thing to know. its just a strategy that you have to master and work for. try it on demo and see first how well you do. just remember that there is a big drawdown when hedging. you have to stomach it very well and not let your emotions get in the way. thats how i lost lots before. who is your broker? mine is ibfx. best of luck to you.
  • #3,707
  • Aug 22, 2008 11:01pm Aug 22, 2008 11:01pm
Very carefully...

I do it something like this (and I'll try to keep it short).
First it's important to get a feel for the market your trading. Sometimes we take a position and guess what... either we were wrong or our timing was too early the second is usually more accurate. (who would every believe that!)

So... let's say we're in one or more a long positions and the market begins to tank on us. This is where it's important to have a feel for that pair and an eye on support/resistance levels. So we're in a long and the market starts heading south. Well as long as that market has not breached an important support then we simply hang in there but when an important support is breached, that's when I strongly consider a hedge position. In fact, I don't just hedge, I normally double down the hedge. Now I'm very careful to watch and set limit orders that will close my hedge of that support area is rebreached as a (now) resistance. I may even add at that point depending on the market and circumstance.

In a nutshell, it's not rocket science but it does take a little practice and obviously a demo account might be the smart way to go until you get a feel for it.

Hope this helps.
Sincerely, TJ

Quoting sirpips
Thanks Treadline,
How did you turn around your losing hedge positions into winning ones?

Have a great weekend to all!
Charts never lie! (everyone else does) ... now where's that FF Adult lounge
  • #3,708
  • Aug 23, 2008 6:45am Aug 23, 2008 6:45am
Many thanks for that insightful explanation of how you apply hedging TJ. It was very much appreciated and has helped a lot. Hope others have gained something from it too...
Sirpips...
  • #3,709
  • Aug 24, 2008 10:41pm Aug 24, 2008 10:41pm
Positions

GBP/JPY long @
205.50 X 10.........active
205.80 X 10.........active
206.00 X 10.........active
206.22 X 10.........active
206.50 X 10.........active
203.00 X 10.........active
204.00 X 10.........active
204.50 X 10.........active
204.80 X 10.........active
203.66 X 10.........active

GBP/USD long @
9470 X 10...........active
9752 X 10...........active
9580 X 10...........active
8560 X 10...........active....put a protective stop @ 8700...Prfts booked

Note all hedged at 1.8700......till furhter notice.....GBP/USD might be heding for 1.8000

Breeze
Market Champion.....Market Master....Market Olympian....Market Genius....Master of the Beast
  • #3,710
  • Aug 24, 2008 11:19pm Aug 24, 2008 11:19pm
Quoting TraderJoe
Very carefully...

I do it something like this (and I'll try to keep it short)............
Sincerely, TJ
  • #3,711
  • Aug 24, 2008 11:43pm Aug 24, 2008 11:43pm
Quoting sirpips
It was very much appreciated and has helped a lot.
Sirpips...
Great... If you find anything to add to it that works for you, be sure to post it . I'm we're always ready to learn a little more. TJ
Charts never lie! (everyone else does) ... now where's that FF Adult lounge
  • #3,712
  • Aug 25, 2008 11:11pm Aug 25, 2008 11:11pm
Update on Positions

GBP/JPY long @
205.50 X 10.........active
205.80 X 10.........active
206.00 X 10.........active
206.22 X 10.........active
206.50 X 10.........active
203.00 X 10.........active
204.00 X 10.........active
204.50 X 10.........active
204.80 X 10.........active
203.66 X 10.........active

GBP/USD long @
9470 X 10...........active
9752 X 10...........active
9580 X 10...........active

Note all hedged at 1.8700......till furhter notice.....GBP/USD might be heding for 1.8000

Breeze
Market Champion.....Market Master....Market Olympian....Market Genius....Master of the Beast
  • #3,713
  • Aug 26, 2008 5:16am Aug 26, 2008 5:16am
Quoting Breeze
Update on Positions

GBP/JPY long @
205.50 X 10.........active
205.80 X 10.........active
206.00 X 10.........active
206.22 X 10.........active
206.50 X 10.........active
203.00 X 10.........active
204.00 X 10.........active
204.50 X 10.........active
204.80 X 10.........active
203.66 X 10.........active

GBP/USD long @
9470 X 10...........active
9752 X 10...........active
9580 X 10...........active

Note all hedged at 1.8700......till furhter notice.....GBP/USD might be heding for 1.8000

Breeze
Market Champion.....Market Master....Market Olympian....Market Genius....Master of the Beast

hey breeze thanks for the info how about g/y where do you think it will head to. have you changed your mind about hedging this pair as it might get below 200 this week? thanks for the info
  • #3,714
  • Aug 27, 2008 4:09am Aug 27, 2008 4:09am
Quoting treadline
hey breeze thanks for the info how about g/y where do you think it will head to. have you changed your mind about hedging this pair as it might get below 200 this week? thanks for the info
I'm expecting a hold @ 200.50.......and I'll add one last position here....i'm still convinced were heading higher before we drp down again....but incase I'm wrong i'll hedge @ 199......for GBP/USD I'm still looking @ 1.8000 before can add more longs
  • #3,715
  • Aug 27, 2008 4:13am Aug 27, 2008 4:13am
Update on Positions

GBP/JPY long @
205.50 X 10.........active
205.80 X 10.........active
206.00 X 10.........active
206.22 X 10.........active
206.50 X 10.........active
203.00 X 10.........active
204.00 X 10.........active
204.50 X 10.........active
204.80 X 10.........active
203.66 X 10.........active
200.50 X 10.........waiting activation

GBP/USD long @
9470 X 10...........active
9752 X 10...........active
9580 X 10...........active

Note all hedged at 1.8700......till furhter notice.....GBP/USD might be heding for 1.8000

Breeze
Market Champion.....Market Master....Market Olympian....Market Genius....Master of the Beast
  • #3,716
  • Aug 27, 2008 11:16am Aug 27, 2008 11:16am
Quoting Breeze
I'm expecting a hold @ 200.50.......and I'll add one last position here....i'm still convinced were heading higher before we drp down again....but incase I'm wrong i'll hedge @ 199......for GBP/USD I'm still looking @ 1.8000 before can add more longs

thanks for the info breeze i have a long pending at 199.95. maybe i should cancel it if it goes below 200. everybody is expecting it to drop below 190. so dont know at this time wether i should keep my long at 199.95 or lower it to 194.95 time will tell i guess. once again thanks for info much appreciated. take care
  • #3,717
  • Aug 27, 2008 1:34pm Aug 27, 2008 1:34pm
Quoting treadline
thanks for the info breeze i have a long pending at 199.95. maybe i should cancel it if it goes below 200. everybody is expecting it to drop below 190. so dont know at this time wether i should keep my long at 199.95 or lower it to 194.95 time will tell i guess. once again thanks for info much appreciated. take care
Ok......I see.....i dont see it droping below 200.50.....anwayz I'll try post charts for you
  • #3,718
  • Aug 27, 2008 1:49pm Aug 27, 2008 1:49pm
My charts are taiking too long to load I dont kno whats the problem....damn
  • #3,719
  • Aug 27, 2008 1:56pm Aug 27, 2008 1:56pm
ok check GBP/USD on a monthly
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  • #3,720
  • Aug 27, 2008 2:06pm Aug 27, 2008 2:06pm
I'm loosing my patience.....charts loading slow
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