My GBPJPY trade journal

Nice intra-day trend. Chart and trades summary

Greg, do you mind me asking what indicator you use for your pivots?

Thanks in advance!

http://www.forexfactory.com/showpost...8&postcount=75

Greg manually puts them on the charts from Action Forex, unless something has changed...

The daily pivots found at ActionForex.com are my favorities, however been I've using aupivots for MT4 awhile. You can find auto pivots under "1000 indicators for MT4." But I like to place the pivots manually when I'm not so busy for the reason that I like "hands on" analysis. Manually placing pivots makes me study the charts and potential setups a little more thoroughly.

Chart and trades summary

Hope you get well soon from the medical issue.

Correction, analysis: "R1" should read "S1". Chart and trade summary

Great analysis and fantastic results as usual! Thank you for keeping the journal going.

Hi ssherwood76;

Thank you for the post. I'm not submitting trades to this thread as much as I used to because I'm picking my spots more selectively due to market conditions. I'll continue to send along my charts, analysis and trade summaries however.

Strategy remains the same.

Regards,
Greg

Chart and trades summary

Hi Gregg;

Great stuff! Couple of questions: 1. Do you try to trade in the direction of the overall trend and do you frequently trade counter-trend and what are your thoughts on trading counter-trend. also 2. Do you take into account fundamentals in your trading?

Thanks for your posts and efforts!

Hi Flinty,

I prefer to trade in the direction of the overall trend (daily, weekly). Sometimes I will trade an intra-day trend (smaller time-frames, 1 hr, 15 min, etc.) which run counter to the longer term trend, but it's riskier. Of course there are traders who only trade the 15 min. chart, or the 5 min. chart, and make trades irrespective of the overall trend. So it's an individual thing, I'm not advising one way or another.

I am aware of the fundamentals. I have the weekly calendar on a stand next to the computer. Because I only trade GBPJPY or GBPUSD, I'm only interested in the "red flag" news for GBP or USD. I'm not a fundamentals trader, I don't spend any time pouring over the economic news. I'm a technician, which is to say that I trade the news technically.

I have moments when I think I could trade without ever being aware of the fundamentals. I try to catch certain chart patterns or setups -- and there are patterns or setups that show up time and again. If you look back over all my charts, you'll see the same setups over and over.

Greg

Hello Gw,Sorry to hear about your accident,I don't get on the ff web site to much anymore but when I do I look at what you have to say.Thanxs again for your time showing us how you do what you do because you don't have to,thanks...John

Hi John,

Thanks much for the nice feedback. Glad my charts and analysis are of help!

Regards,
Greg

Hello,

I havent posted here for some time but have been keeping a close eye on this excellent thread.

Just wondering if anyone or Greg could please confirm the below:

While reviewing back Greg's charts (once again), I noticed in this post #696

http://www.forexfactory.com/showpost...&postcount=696

Greg mentions near the end of the column that he prefers to make a clean trade between 10:30pm (pdt) to 2 ~ 2:30am

Correct me if I have my times mixed up but that would mean near the end of U.S session...?

Im certain Greg mentions in earlier postings that he looks at 1 hour before london open and few hours after it opens.

Thank you

pipEASY

The highest number of traders on board in a 24 hr. period occurs around the London Open, so I look to trade then. I'll also trade the Asian session if there's compelling momentum (i.e., enough traders to move the market), and price has been/is trending. I rarely trade the U.S. session.

Trending Momentum = highest risk/reward potential

Chart and trade summary

It's been pointed out to me by a couple of regular readers that I inadvertently included a new account number and also personal address in my last submission. Oops! Account has been changed, and our address changed a couple years ago.

Good trading,
Greg

I didn't notice because my eyes go strait to the profit dollar amount.

I just assumed you lived in Europe based on the time of day you traded.

Naturally I'd prefer it if readers of this link would only focus on the trading strategy, adding to their toolkit whatever they can get out of it. I have often thought of not showing the profit summary at all. But the summary is the proof of the pudding, and so I guess I must.