My GBPJPY trade journal | Page 45 | 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

  • #881
  • Dec 3, 2009 10:07am Dec 3, 2009 10:07am
Just Ha,

Thanks for whe hyper link... I am always looking for new books to feed my newbie brain. Little by little I am starting to understand more of the technicals. I can now draw triangles trend lines and pivot points. My weak area is the fundamentals. I also want to find a good book about programing for Meta Trader. I try to read as much as I can. Most books that I have read are very flowery. So, I have yet to find a book that just gets to the meat and potatoes of forex technicals and fundamentals.


by the way... Greg,
Do you think that GBP/JPY is a safe currency to trade on the weekly or daily charts.. What I mean, is..... hold the position for a few days. Or is it to volatile?

Thanks everyone for helping me to learn more.
Luck has no place in trading. Leave that for the poker table.
  • #882
  • Dec 3, 2009 12:33pm Dec 3, 2009 12:33pm
Can't answer that. As you know, I'm a day trader vs. position trader or scalper.

Cheers,
Greg
  • #883
  • Dec 3, 2009 12:34pm Dec 3, 2009 12:34pm
Chart and trades summary
Attached Image(s) (click to enlarge)
Click to Enlarge Name: WEDNESDAY CHART.png Size: 67 KB
Click to Enlarge Name: WEDNESDAY SUMMARY.png Size: 24 KB
  • #884
  • Dec 3, 2009 3:42pm Dec 3, 2009 3:42pm
Hello Greg,I see divergence on your 4h chart stoch/price so I guess a fall in price was inevitable,good trade...
  • #885
  • Dec 3, 2009 10:51pm Dec 3, 2009 10:51pm
If u want to learn about Fundimentals come to the Auslanco - GBP/JPY and GBP/USD (newstrade) thread. read some of teh past threads and read it daily, theirs alot of brains on that thread, they're constantly posting charts and discussing fundamentals. As for learning MT Coding, note that MT5 has a different coding language then MT4. alot of the indicators are gonna have to be rewritten.

http://www.forexfactory.com/showthre...582&page=13976

Quoting Pair-me-up
Just Ha,

Thanks for whe hyper link... I am always looking for new books to feed my newbie brain. Little by little I am starting to understand more of the technicals. I can now draw triangles trend lines...
  • #886
  • Dec 4, 2009 9:30am Dec 4, 2009 9:30am
Just Ha,

Thanks for the link.. I will check it out..
I am almost finished reading Warrior Trader... I just opened up another demo account this week. Luckily it lets me practic trading with a $3,000 account at the minimum... That is more realistic for what I will start with when I go live. So far this week, I have increased it by more than $1,000 USD.. I got over 300 fake positive pips. and 5 fake negative pips.

Again thanks
Luck has no place in trading. Leave that for the poker table.
  • #887
  • Dec 7, 2009 2:22am Dec 7, 2009 2:22am
Hi guys

Price pierced PP and floating between bottom channel and PP.

Entered sell @ 147.24.

I know i entered between pivots which is no mans land but in my eyes there is compelling momentum down.

Wondering waht Greg would say
  • #888
  • Dec 7, 2009 3:17am Dec 7, 2009 3:17am
It could be just me but FXCM was just down for about 30minutes. (?)
  • #889
  • Dec 8, 2009 1:49am Dec 8, 2009 1:49am
Chart and trades summary
Attached Image(s) (click to enlarge)
Click to Enlarge Name: MONDAY CHART.png Size: 79 KB
Click to Enlarge Name: MONDAY SUMMARY.png Size: 44 KB
  • #890
  • Edited 2:29am Dec 8, 2009 2:20am | Edited 2:29am
That was great trade monday night, Greg

Did you just catch the big down from GBP/JPY - S1 to S2 just before the london open?

About 70 pip movement in 2 hours.
  • #891
  • Dec 8, 2009 2:53am Dec 8, 2009 2:53am
Hi pipEASY,

Wasn't watching, didn't try to catch the GBPJPY move. GBPUSD move was almost 100 pips from the CPP (and finished with 100+ pips from previous day open) to S1.


Greg

  • #892
  • Dec 8, 2009 3:13am Dec 8, 2009 3:13am
Thanks for your reply Greg

Greatly appreciated.

I only have enough concentration to focus on one pair. Have you given up on GBP/JPY? Or do you watch all GBP pairs?

By the way, i have read every single post you have put up here and copy pasted every chart to word document which is currently at a whopping 299 pages.

I only copy pasted your entries. So much good information! I read it over and over again all the time. Please keep up the good work.

Anyone who would be interested in this doc please let me know and i work something out. It is just over 60 megabytes and growing
  • #893
  • Dec 9, 2009 1:07am Dec 9, 2009 1:07am
Hi guys

I have been watching asian market all day.

1. Price started below CPP, just above Yesterday's Low.
2. From open, there was consolidation around yesterday's low till 2 hours before london open.

At the moment big movement down heading towards S1.

Just pierced S1 while i was typing here!

I put a sell between yesterday low and S1 (no mans land) but there is a big play down here.

Im still learning if a PA is compelling or not but it just moved 100 pips down before i finished my coffee!
  • #894
  • Dec 9, 2009 5:36am Dec 9, 2009 5:36am
Hi Greg

Thank you for your invaluable input into this thread.

Can you please define compelling momentum in figures?

Would you consider compelling momentum when there is a movement of about 50-100 pips a hour? Long candles on 1min chart? 5min chart?

What are some of the criteria you set yourself when selecting 'compelling momentum'

Thank you in advance.

pipEASY
  • #895
  • Dec 9, 2009 5:38am Dec 9, 2009 5:38am
Quoting pipEASY
Thanks for your reply Greg

Greatly appreciated.

I only have enough concentration to focus on one pair. Have you given up on GBP/JPY? Or do you watch all GBP pairs?

By the way, i have read every single post you have put up here and copy pasted every chart to word document which is currently at a whopping 299 pages.

I only copy pasted your entries. So much good information! I read it over and over again all the time. Please keep up the good work.

Anyone who would be interested in this doc please let me know and i work something out. It...
thanks for putting it altogether and the link Pipeasy.
I am downloading right now.
cheers
travpip
  • #896
  • Dec 9, 2009 5:50am Dec 9, 2009 5:50am
No problem

Hope it helps you too.

Im not sure if you can post rapidshare links here, so if anyone else interested please PM me and i will reply back promptly.

I feel like i have hi-jacked this thread because the last 4,5 post was all from me.

Sorry Greg, the spotlight is back on you
  • #897
  • Edited Dec 11, 2009 1:24am Dec 10, 2009 1:47pm | Edited Dec 11, 2009 1:24am
Hi,

I've talked about "compelling momentum" many times on this thread, and you can see it on the chart submissions. Undoubtedly part of recognizing "compelling momentum" has to do with a lot of experience at chart watching. Another factor is simply understanding/recognizing what momentum is when you see it.

Compelling momentum can appear in many different ways. For example, if a currency has been in a consolidation/range -- as illustrated on the chart by a horizontal series of short candles moving across the chart -- and then price "breaks out" of the consolidation to the upside or downside, you will suddenly notice a much longer, full body momentum candle(s). It is very helpful to go back through a chart history and study where this breakout pattern/compelling momentum has occurred.

Another definition of "compelling momentum" is measured by how fast or slow price candles are moving in an uptrend or downtrend. If price candles are moving at a good clip, vs. very slow, obviously that is compelling momentum.

Another example of compelling momentum in a trend is a series of like candles, i.e., higher highs, higher lows (bull); or lower highs , lower lows (bear).

When momentum is "compelling", it's an indicator that many traders are on board and pushing the trending move. That is why I like to trade the strategy I use: it is a setup that optimizes the chance of a lot of traders trading at the same time in the same direction.

Again, I attempt to capture the "easy money": compelling momentum within 100+ pips strategy from a support to resistance or vice versa. Spotting potential "Trending Momentum" setups = highest probability, risk/reward trades.


Greg
  • #898
  • Dec 10, 2009 4:27pm Dec 10, 2009 4:27pm
Quoting gregwilson
Hi,

[b][i][color=#0000ff]I've talked about "compelling momentum" many times on this thread, and you can see it on the chart submissions. But undoubtedly part of recognizing "compelling momentum" has to do with a lot of experience at chart watching. Another factor is simply understanding what momentum is when you see it. Momentum can appear in many different ways. For example, if a currency has been in consolidation/range, as illustrated on the chart by by a horizontal series of short candles moving across...
Hi Greg,

Thank you for the concise explanation. That explains alot. Just needed confirmation from 'the man'

Hope i havent intruded on your thread, Greg.
  • #899
  • Dec 17, 2009 7:11pm Dec 17, 2009 7:11pm
Chart and trade summary
Attached Image(s) (click to enlarge)
Click to Enlarge Name: WEDNESDAY TRADE.png Size: 85 KB
Click to Enlarge Name: WEDNESDAY SUMMARY.png Size: 22 KB
  • #900
  • Dec 29, 2009 2:31am Dec 29, 2009 2:31am
Hi greg and all followers

Havent had any new post on this thread for awhile. Hope everyone is enjoying a safe and happy holiday.

Looking forward to your next post earnestly Greg.

Cheers

pipEASY
0 traders viewing now