Author of: For Pip's Sake! (Available at Amazon... :-) )
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #215,001
- Feb 9, 2010 12:40pm Feb 9, 2010 12:40pm
- Joined Aug 2009 | Status: Technical fundamentalist | 2,202 Posts
- #215,002
- Feb 9, 2010 12:51pm Feb 9, 2010 12:51pm
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Don't be a hero. Don't have an ego. Always question yourself
- #215,005
- Feb 9, 2010 1:22pm Feb 9, 2010 1:22pm
- Joined Jan 2009 | Status: bye FF | 8,806 Posts
It means "My Cup Runneth Over"
Kaboom..
MY OPINION NOT FINANCIAL ADVISE
- #215,006
- Feb 9, 2010 1:28pm Feb 9, 2010 1:28pm
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
are you sure to keep your long ... thats very meaning for me ... but i can't see at the chart ... what time frames you used ...
GJ doesn' tell me much, but both GU and UJ are still bullish:
GU:
UJ:
Don't be a hero. Don't have an ego. Always question yourself
- #215,008
- Feb 9, 2010 2:04pm Feb 9, 2010 2:04pm
- | Commercial User | Joined May 2009 | 5,751 Posts
I love to play GBPJPY 
550 pipps for me this motnh on GBPJPY
Cheers and happy piping
550 pipps for me this motnh on GBPJPY
Cheers and happy piping
"Buy on fear, sell on greed !!!
- #215,009
- Feb 9, 2010 2:07pm Feb 9, 2010 2:07pm
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
I love to play GBPJPY
550 pipps for me this motnh on GBPJPY
Cheers and happy piping
yes it's a beautifull pair as long as you prepare for the unexpected 
Don't be a hero. Don't have an ego. Always question yourself
- #215,010
- Feb 9, 2010 2:13pm Feb 9, 2010 2:13pm
This pair is very hard.
The JPY has been in indecision since last week Thursdays sell off in stocks.
Sentiment is turning today after some nasty whipsaws.
Understanding/analysing JPY strenght/weakness is essential in trading JPY pairs.
Being right is one, taking it from the table is two.
- #215,011
- Feb 9, 2010 2:27pm Feb 9, 2010 2:27pm
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Prob other things will happen, but if not, UJ reaching red line will be the exit of my GJ longs....
Don't be a hero. Don't have an ego. Always question yourself
- #215,013
- Feb 9, 2010 2:34pm Feb 9, 2010 2:34pm
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Don't be a hero. Don't have an ego. Always question yourself
- #215,014
- Feb 9, 2010 2:40pm Feb 9, 2010 2:40pm
Nothing special, just long term historic resistance, keep it simple....
Being right is one, taking it from the table is two.
- #215,015
- Feb 9, 2010 3:27pm Feb 9, 2010 3:27pm
I feel with you.
The JPY has been in indecision since last week Thursdays sell off in stocks.
Sentiment is turning today after some nasty whipsaws.
Understanding/analysing JPY strenght/weakness is essential in trading JPY pairs.
This thing is killing me. I almost find something that works. than as soon as I understand something. everything changes. Today I was long, than the price got me out of the trade. and then sky rocket without me.
How much do I need to lose before i get it
I don't like scalping. I'm trying to hold it. but than all the noise, news, greece, spain, trade balance, and the chaos move. bang.
- #215,016
- Feb 9, 2010 3:31pm Feb 9, 2010 3:31pm
- Joined Oct 2007 | Status: Take The A-Trade | 2,303 Posts
GJ, in short term is on bullish mode now:
$ index: Engulfing top of the ascending channel
Attachment
Yen index: Engulfing
Attachment
Geppy:
Attachment
Trade your charts
A couple of reasons for my bullish short term view here:
http://www.forexfactory.com/showpost...ostcount=10045
http://www.forexfactory.com/showpost...ostcount=10046
http://www.forexfactory.com/showpost...ostcount=10047
J
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
- #215,017
- Feb 9, 2010 3:40pm Feb 9, 2010 3:40pm
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Man i think I've tried everything.
This thing is killing me. I almost find something that works. than as soon as I understand something. everything changes. Today I was long, than the price got me out of the trade. and then sky rocket without me.
How much do I need to lose before i get it
I don't like scalping. I'm trying to hold it. but than all the noise, news, greece, spain, trade balance, and the chaos move. bang.
Something like that does it for me......
PS, trail when it goes your way.....
Don't be a hero. Don't have an ego. Always question yourself
- #215,018
- Feb 9, 2010 3:48pm Feb 9, 2010 3:48pm
After loosing money you are not able to stay in and see again looses.
I am trying to get some 50-100 pips. and yesterday and today price action and Friday too sugested a bottom for now. and also a rebound. at list in my view. I was pretty sure. but than couldn't hold my long and. took a loss.
A few hours later everything happens as i tough would.
But I wasn't on board.
Now I'm pretty sure it can have a correction maybe to 140.5 area.
but than it doesn't, so i get long again. than it goes down to 140,1 and news about greece is comming again. than i also see that hey on all the time frames the trend is down. so take my loss and get short.
Then it goes up. I see that on weekly chart that here is a good support and it can go up. so .......
frustrated.
I am trying to get some 50-100 pips. and yesterday and today price action and Friday too sugested a bottom for now. and also a rebound. at list in my view. I was pretty sure. but than couldn't hold my long and. took a loss.
A few hours later everything happens as i tough would.
But I wasn't on board.
Now I'm pretty sure it can have a correction maybe to 140.5 area.
but than it doesn't, so i get long again. than it goes down to 140,1 and news about greece is comming again. than i also see that hey on all the time frames the trend is down. so take my loss and get short.
Then it goes up. I see that on weekly chart that here is a good support and it can go up. so .......
frustrated.
- #215,019
- Feb 9, 2010 4:57pm Feb 9, 2010 4:57pm
- | Joined Jan 2009 | Status: independent mind | 1,104 Posts
This pair is very hard.
- #215,020
- Feb 9, 2010 5:02pm Feb 9, 2010 5:02pm
Man i think I've tried everything.
This thing is killing me. I almost find something that works. than as soon as I understand something. everything changes. Today I was long, than the price got me out of the trade. and then sky rocket without me.
How much do I need to lose before i get it
I don't like scalping. I'm trying to hold it. but than all the noise, news, greece, spain, trade balance, and the chaos move. bang.
I can tell you one thing, from my own experience - strategies - no matter how you put it, there will always be loss involved in this game. At moments like this - like last week Thursdays sell-off in stocks - that spurred safe-haven flows back into the JPY - look at that price action. Since then the market is in denial/indecision resulting in whipsaws, jojo-price action since the last three days. At times like that, just stand on the side-lines do not enter, be patient untill the noise calms down - no position is also a position. FX is all about staying power, your staying power is your equity balance. Wait before you enter the market and put your money at risk, be patient. Forget to scalp, it will give you margin calls in the short and long term. Learn to trade from the 1H timeframe to avoid market noise. Go with the trend. Stay on the sidelines if the market goes sideways or when it is in indecision.
On my trading mechanism (trend-trading, break out system), my SL is most of the times only 30 pips. My target goes from 60 to 300 even 500 pips. So even if I loose 5 times in a row 30 pips, I know I will recover on the long run.
Rule #1: Protect your investment.
Being right is one, taking it from the table is two.