My GBPJPY trade journal | Page 12 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

(GBPJPY) Trade the Trend Journal 8 replies

My GBPJPY Trading Journal - Trading from level to level 23 replies

1MD Breakouts Journal - GBPUSD, GBPJPY, and USDJPY 0 replies

My journal Gbpjpy - No stop loss, no MM, your account is dead 0 replies

Mr.Y trading GBPJPY journal 18 replies

Attachments: My GBPJPY trade journal
Exit Attachments

My GBPJPY trade journal

  • #221
  • Nov 5, 2008 5:48am Nov 5, 2008 5:48am
Election Night results trade by trade.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Tuesday summary.png Size: 21 KB
Click to Enlarge Name: Tuesday summary2.png Size: 8 KB
  • #222
  • Nov 5, 2008 7:05am Nov 5, 2008 7:05am
Good Morning GW, which broker do you use for your trading? I would like to switch from where I am today! thanxs.
  • #223
  • Edited 8:45am Nov 5, 2008 8:32am | Edited 8:45am
I use FXCM. A cautionary piece of advice if you are trading live: FXCM's spreads over the last month are varying widely, as much as 30+ pips. You may enter the trade with a 9 or 10 pip (formally fixed) spread, then immediately see another 20 pips added to your spread as volatility increases. It's a no-brainer to see this isn't an advantage. I'm weighing the disadvantages very carefully, how it affects the bottom line and whether I can tolerate it. At the moment I'm about 50/50. What traders pay the house to play the game is very important, the less the better. I also prefer a fixed spread for obvious reasons.

Cheers
  • #224
  • Nov 5, 2008 8:52am Nov 5, 2008 8:52am
Thanxs GW,I am currently with forex.com but having stop loss issues with them for the last two weeks.thanxs for your reply,cheers !!!
  • #225
  • Nov 5, 2008 5:33pm Nov 5, 2008 5:33pm
When the central bank of a country intervenes and manipulates currency
does that create gaps? I mean difference between closing and opening
values between time zones or if the intervention is over the weekend, then
a gap over the same?

Do any of you have any experiece good or bad with such interventions and
if so, do you know how big these gaps could be, because I know the
brokers do not guarantee stop limits over gaps and after major news
releases.

Please comment!
Swing Trades + 120 pips/mo
  • #226
  • Edited 5:47am Nov 10, 2008 5:45am | Edited 5:47am
This session doesn't meet my criteria for trading: Tending Momentum. In a range or nearly flat so far (currently near previous top at top of channel). No trade Sunday overnight. Earlier chart analysis below.
Attached Image (click to enlarge)
Click to Enlarge Name: Sunday chart.png Size: 70 KB
  • #227
  • Nov 10, 2008 6:03am Nov 10, 2008 6:03am
[quot
hi greg.
nice post, how i wish i could be at least a good trader, but i guess i am a complete loser here..i havent made any profit i keep depositing and not makin profit to withdraw, its about to make my go bankurpy, i have tried alot of custom and all indicators , also have tried reading corelation of currency and trending but ...it seems not working for me.... i would really appriciate it if u could help me out...pls if there is at least a 70% good indicator or strategy u could teach and give me i would really appreciate it, my direct email is [email protected]
God bless u!
  • #228
  • Edited 10:20am Nov 10, 2008 10:20am | Edited 10:20am
I sympathize with you and those who have written similar posts. I don't know how long you have been trading. I've been at it nine years and I'm still learning. Hopefully the charts give you some insight about the way I use indicators, my strategy and what I look for in a trade. It's all I can do or have time for. Sorry.

Many good wishes
  • #229
  • Nov 10, 2008 10:23am Nov 10, 2008 10:23am
Monday morning chart and trade summary
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Sunday chart.png Size: 86 KB
Click to Enlarge Name: Sunday summary.png Size: 27 KB
  • #230
  • Nov 11, 2008 7:36am Nov 11, 2008 7:36am
Good am GW,Do you get in the trade when the stoch cross or when it crosses above/below 50 line? thanxs
  • #231
  • Nov 11, 2008 11:31am Nov 11, 2008 11:31am
I don't pay attention to stochastic crosses (other than to note the lines have crossed), maybe I should give them some thought. As you can tell by looking at my charts, what I look for are 100+ pips opportunities, ideally between pivot points. That determined, I wait for Trading Momentum. Rather than sit at the computer for tedious hours on end, I place price alerts to trigger on my cell phone when hit, and head off to bed (most of my trading takes place during overnight hours, albeit early morning of late). I use the stochastics as a confirmation whether price is overbought or oversold. The 50.00 line divides the buyers from the sellers, e.g. above 50.00 line indicates there are more buyers currently than sellers currently (1 hour chart).

Cheers
  • #232
  • Nov 11, 2008 11:33am Nov 11, 2008 11:33am
Chart and summary
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Monday chart.png Size: 98 KB
Click to Enlarge Name: Monday Summary.png Size: 15 KB
  • #233
  • Edited 4:48pm Nov 11, 2008 4:37pm | Edited 4:48pm
Erase
  • #234
  • Nov 11, 2008 4:48pm Nov 11, 2008 4:48pm
Quoting gregwilson
I use the stochastics as a confirmation whether price is overbought or oversold. The 50.00 line divides the buyers from the sellers, e.g. above 50.00 line indicates there are more buyers currently than sellers currently (1 hour chart).
See red above -- when you used it, do you use a frametime:1 hour? If not, what frametime do you use it for overbought and oversold?
  • #235
  • Nov 11, 2008 7:48pm Nov 11, 2008 7:48pm
Quoting gregwilson
Chart and summary
Hi Greg,
I remember you said you use Daily pivot fron actionforex.

So what do you mean by "No man's land" between pivots?

Do you use more than 1 pivot?

Thanks
Mike
Failure, is a wonderful teacher!
  • #236
  • Edited 6:13am Nov 12, 2008 6:10am | Edited 6:13am
Yes, there is more than one pivot daily: CPP, S1, S2, S3, R1, R2, R3, etc. I regard pivots as floors and ceilings and look for where price is in relation to that. I trade off floors and ceilings, i.e. support and resistance. The area between pivots is "No-man's land" for the reason that price is "floating" between a floor and ceiling (a pivot or some other floor or ceiling). In such cases part of the move is already over (having started at a floor or ceiling), thus a more dangerous area to calculate if you are thinking about entering a trade. Not to say that you shouldn't, but you'd better have compelling momentum in the direction of the move, otherwise you might enter a trade and just sit there (you're already out the spread), and then price might even reverse on you and head back in the other direction. To get a handle on this and many other factors (e.g. what times of day to trade and not to trade, etc., etc.) requires much chart watching, clock watching and study. What is price (candles) doing now? Where is it in relation to pivots, moving averages, stochastics, MACD, bollinger bands, channels, trendlines, etc.?

Cheers
  • #237
  • Nov 12, 2008 6:15am Nov 12, 2008 6:15am
Chart and summary.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Tuesday chart.png Size: 94 KB
Click to Enlarge Name: Tuesday summary.png Size: 43 KB
  • #238
  • Nov 12, 2008 2:10pm Nov 12, 2008 2:10pm
Askjo,

As you know, stochastics is a momentum indicator indicating overbought or oversold conditions. I use the stochastics indicator on all time frames I am watching.

Note: Indicators are just that, indicators (lagging), not predictors.

Cheers
  • #239
  • Nov 13, 2008 7:03am Nov 13, 2008 7:03am
Quoting gregwilson
[b][i][color=blue]Yes, there is more than one pivot daily: CPP, S1, S2, S3, R1, R2, R3, etc. I regard pivots as floors and ceilings and look for where price is in relation to that. I trade off floors and ceilings, i.e. support and resistance. The area between pivots is "No-man's land" for the reason that price is "floating" between a floor and ceiling (a pivot or some other floor or ceiling). In such cases part of the move is already over (having started at a floor or ceiling), thus a more dangerous area to calculate if you are thinking about...
Thanks Greg.
So everyday you apply these daily Pivot and Support and resistance to your charts and use them .

Here I put the picture from actionforex.

Is that right?

Thank you
Mike
Attached Image (click to enlarge)
Click to Enlarge Name: george.jpg Size: 79 KB
Failure, is a wonderful teacher!
  • #240
  • Nov 13, 2008 11:03am Nov 13, 2008 11:03am
Correct, new pivots come out every day, I apply them to charts every day. I initially place three: CPP, R1, S1, add others as price moves in their direction. Because new pivots are a daily occurence, they are most effective with short term trading. There are weekly pivots, too, but I haven't studied them, don't use them currently.
0 traders viewing now