My GBPJPY trade journal

Chart and trades summary

Hey Greg!

HIGHH FIVE!!

Got in on that sweet one too.. didn't go my way for the bit.. but I noticed on the 5/15min charts a trendline was being formed, so I shorted it again at a top.

Got out too early though

Thanks Greg.

http://img148.imageshack.us/img148/7149/gbpjpy.jpg

Took this trade because last three 1 hr candles were bulls and stepping above the CPP. Knowing there wasn't enough momentum for 100 pips target R1 from CPP ("intra-day trend") because market is moving sideways, I looked for a target close at hand other players would be looking at too, M3 @ 161.90 (mid-pivot between CPP and R1).

London Open. Quick momentum spurt to the downside. Chart and trade summary

Chart and trade summary

11 seconds! Good trade, but easy on the trigger! The move in the yen was just getting underway. Are these hourly candles or tick-by-tick?

See chart

The question was sarcastic. Enjoy the weekend!

Hi Greg,

What's your win/loss percentage & risk:reward ratio on your trades?

thanks,

Walt

Hi jones 247,

I don't like answering these kind of questions because I think my win/loss precentage is irrelevant to your own trading. That said, it seems to me the win percentage of necessity needs to be relatively high to be consistently successful. Others will disagree.

I don't think in terms of statistical risk/reward ratios. For me, risk/reward ratio = recognizing highest probability setups via the trading strategies I've learned.

Regards,
Greg

Chart and trade summary

Gday Greg

Just wanted to say a big thank you for keeping on going with this thread.

Even though i use none of your indicators ( i only use some ma's ) the premise behind how you trade and your reasoning for taking a trade mean that i am finding myself on alot of the same moves.

Your regular explanations drum into my head what is important.

discipline

patience

momentum

room for the trade to move

banking of profits

I hope alot of people find your thread, pay it the scrutiny it deserves and learn from your approach.

Cheers

Ditto Greg. Thanks so much for sharing your strategies. As a newbie, it's been helping my learning process. I also am beginning to see some of the same set ups you see (especially obvious one). Thanks again.

Your are welcome, zorroz and flinty. I'm glad to hear you find the posts helpful.

Cheers and good trading,
Greg

There was a pretty nice Mr.Wilson setup right around 10:40AM EST time today

Greg, did you grab any pips there?

Hi Greg,

Good Journal.

Quick question. How are you calculating your P/L - Dollar figure? (see link)
http://www.forexfactory.com/attachme...0&d=1212048520

I have been sitting here with a calculator dumb founded, i am a newby i must mention and have been reading up on pip value calculations (e.g. .0001/exchange rate x lot size) but still cant work out your calculation..

Thanks.

Hi Bank.it

If you look at the difference from his sold to bought columns then you will see there is a 100 pip difference on average on the three positions.

Cheers

It's OK I will go and google and find an answer. Its basic stuff i'm sure.

try the site babypips.com they have a school there and explanation..good for newbies

in the example you highlight Greg has it the wrong way around in this instance - he bought at 205.57 and closed it (sold) at 206.60 so thats 103 pips - he should of had the box on 205.57 with an arrow up to 206.60

which in fact he does have on a second look

Chart and trades summaries