Any good systems for Gbp/jpy? | Forex Factory

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Any good systems for Gbp/jpy?

  • #1
  • First Post: Feb 16, 2007 3:44pm Feb 16, 2007 3:44pm
Alright, I can't ignore this cross anymore. Even though I am profitable without it, I feel like I am leaving money on the table not trading the little jumpy bastard.
Having said that, I know of all the methods here, indicators, yata yata.
Which are the best in your opinions for GBP/JPY?

Later
Pipple
  • #2
  • Feb 16, 2007 3:45pm Feb 16, 2007 3:45pm
mods feel free to move this thread if it should be in Discussion, not System
I didnt know guys
Later
  • #3
  • Feb 17, 2007 5:36am Feb 17, 2007 5:36am
  •  Trader#0000
  • | Status: Unregistered Trader
The best way to trade this to date is the carry trade. Go long on retracements. I'm watching the daily charts using Bollinger Bands as a rough guide. Maybe take a long after signs of continuation of the uptrend, lets say after it brakes the middle band.

Good luck
  • #4
  • Feb 17, 2007 1:02pm Feb 17, 2007 1:02pm
This pair is really dirives me insaine. It seems to offer so much, but I also do not know some reliable way to take profits. I do get profits from it but with very amaturish method that I even ashame to use it.
I tried some break out systems but so far found none that can work in the long run on this pair which is very strage to me, because of so much movement this pair offers. I think the reason why breakout system do not work on this pair is inconsistency of the movements.
I am still looking but so far found nothing.
"Every battle is won before it is ever fought." - Sun-tzu, The Art of War.
  • #5
  • Feb 17, 2007 6:21pm Feb 17, 2007 6:21pm
Quoting Andy12
This pair is really dirives me insaine. It seems to offer so much, but I also do not know some reliable way to take profits. I do get profits from it but with very amaturish method that I even ashame to use it.
I tried some break out systems but so far found none that can work in the long run on this pair which is very strage to me, because of so much movement this pair offers. I think the reason why breakout system do not work on this pair is inconsistency of the movements.
I am still looking but so far found nothing.

Using some of the methods found on FF, unless I am missing something, I can't really find too many setups to trade this pair.
Sidus, for example, seems maybe a too volatile pair to find entries on the 1 and 4 hr.
the 18/28 ma's seem to cross too often, as well as the RVI 100
I like volatile pairs, I just prefer to attack them with a more solid method.
Sidus works for me great on EUR/USD and GBP/USD 1 hr TF
I dont know
  • #6
  • Feb 18, 2007 12:20pm Feb 18, 2007 12:20pm
Sorry for my not sophisticated question , but could you explain please what carry trade is?
I google it and read a lot but it still unclear. Is it when you just buy pair like GBP/JPY and just hope that it will go up some more and while you holding position you collect also some interest?
Quoting ForexDude2
The best way to trade this to date is the carry trade. Go long on retracements. I'm watching the daily charts using Bollinger Bands as a rough guide. Maybe take a long after signs of continuation of the uptrend, lets say after it brakes the middle band.

Good luck
"Every battle is won before it is ever fought." - Sun-tzu, The Art of War.
  • #7
  • Feb 18, 2007 12:26pm Feb 18, 2007 12:26pm
  •  Trader#0000
  • | Status: Unregistered Trader
Quoting Andy12
Sorry for my not sophisticated question , but could you explain please what carry trade is?
I google it and read a lot but it still unclear. Is it when you just buy pair like GBP/JPY and just hope that it will go up some more and while you holding position you collect also some interest?
Correct, it's about 20-25 dollars per day for a standard lot.
  • #8
  • Feb 18, 2007 1:03pm Feb 18, 2007 1:03pm
Thanks for answer.
Then I was using carry trade all a long. Even though I won some good money(as a newby, I lost some money in different ways and won with almost only carry trading)
OK now the bad news, it is very dangerous. For example, now I stuck with GBP/JPY and -520pips down.
I will wait untill my account hit margin call or I will get some profit. That is why it is dangerous. Too risky, don't you think?
Quoting ForexDude2
Correct, it's about 20-25 dollars per day for a standard lot.
"Every battle is won before it is ever fought." - Sun-tzu, The Art of War.
  • #9
  • Feb 19, 2007 9:27pm Feb 19, 2007 9:27pm
I remember when I used to use the DailyFx forum that there was a guy named JohnGfx who pretty much had this pair down. He used the ichimoku indicator primarily (kijun and tenkan lines). Go there, look at the (weirdly enough) GBP/USD forum from about six or so months back.

Sorry I can't be more help but I just remembered this guy and the good posts he made, check it out if you want to do some research.

Michael
  • #10
  • Last Post: Feb 25, 2007 2:32pm Feb 25, 2007 2:32pm
I'm pretty new at Forex (only 6 months) and I've only been live trading the pair the past two weeks, so you should take this with a lot of skepticism.

I've tried a lot of indicators over the past 6 months, but am trading this pair with what they call "naked" or "price action". I use a 5 minute chart with 5 and 100 SMA's. You don't really need either of the SMA's, but they help me see what I'm doing a little better. I wait for a good trend up or down, then I watch for a small retracement. Once the price returns higher/lower than the retracements original high/low, I enter a trade in the direction of the trend.

I'm really struggling with my take profit and stop losses. I was hoping I would come up with something this weekend, but nothing yet. I've been taking profits at 20 to 30 pips, with a stop loss at 40 pips. I was stopped out on 1 out of 5 trades last week for +55 pips for the week, but know this won't last. Three of the four winning trades went over 100 pips with a 50 pip SL. I'll probably start buying multiple contracts with varying TP's and trailing stops.
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