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Making money on GPB/JPY only

  • #1
  • First Post: Feb 28, 2012 12:33pm Feb 28, 2012 12:33pm
1st I am new to forex and my experience could be elementary perhaps idiotic however on my demo account it has been making solid profit 80% times.
Quick background on myself.Age 48 an Artist studied Engineering and Chess addict.
My "system" is simple.
ONLY trade on daily highs and lows.Not in between.My focus is price action and nothing else.NO INDICATOR USED NONE!
As you know this pair in particular goes wide swings usually 126 to 128 and sometimes 129.
I buy 126-27 sell 128-129
Trick to me is not to panic maintain your cool because the pairs have been rising and falling in predictable pattern.
That's it guys.
In trading, you have to be defensive and aggressive at the same time
  • #2
  • Feb 28, 2012 12:43pm Feb 28, 2012 12:43pm
if you want to take the next step further with your system feel free to contact me.
zackery
  • #3
  • Feb 28, 2012 1:08pm Feb 28, 2012 1:08pm
As an Artist my most important talent is to look at the details but keep overall picture in mind.

I observed that during Tokyo open Japanese tend to sell the Yen which drives the prices high and once London opens stadly declines by NY open usually is at its lowest price.

Cycle goes again.I use this observation as my "indicator"
In trading, you have to be defensive and aggressive at the same time
  • #4
  • Feb 28, 2012 1:09pm Feb 28, 2012 1:09pm
Quoting zackery
if you want to take the next step further with your system feel free to contact me.
zackery
Zackery please elaborate.
In trading, you have to be defensive and aggressive at the same time
  • #5
  • Feb 28, 2012 1:30pm Feb 28, 2012 1:30pm
Quoting Davit
1st I am new to forex and my experience could be elementary perhaps idiotic however on my demo account it has been making solid profit 80% times.
Quick background on myself.Age 48 an Artist studied Engineering and Chess addict.
My "system" is simple.
ONLY trade on daily highs and lows.Not in between.My focus is price action and nothing else.NO INDICATOR USED NONE!
As you know this pair in particular goes wide swings usually 126 to 128 and sometimes 129.
I buy 126-27 sell 128-129
Trick to me is not to panic maintain your cool because...
The purpose of this thread to tell us that alone? Or will you be posting some charts with trades?

80%, is that 8 of 10 or 80 of 100 trades, or how long have you been trading this method?

Please, throw us more crumbs...

It takes a lot for me to IGNORE you, but you can try.
  • #6
  • Feb 28, 2012 1:48pm Feb 28, 2012 1:48pm
Quoting Erebus
The purpose of this thread to tell us that alone? Or will you be posting some charts with trades?

80%, is that 8 of 10 or 80 of 100 trades, or how long have you been trading this method?

Please, throw us more crumbs...

Profiforex Corp.

Account: 3020425 Name: Mateos Currency: USD 2012 February 28, 22:41 Closed Transactions: TicketOpen TimeTypeSizeItem PriceS / LT / PClose Time PriceCommissionTaxesSwapProfit 118305272012.02.24 20:29balanceDeposit10 000.00 118305312012.02.24 20:30sell1.00gbpjpy128.310.00128.352012.02.27 11:24128.350.000.00-3.09-49.44 118305402012.02.24 20:31sell1.00audusd1.07090.00000.00002012.02.24 20:551.07110.000.000.00-20.00 118305962012.02.24 20:55sell1.00gbpjpy128.390.00128.102012.02.27 12:19128.100.000.00-3.09359.09 118312202012.02.24 23:01sell1.00gbpjpy128.620.00127.852012.02.27 12:34127.850.000.00-3.09954.98 118314862012.02.27 00:18sell1.00gbpjpy129.090.00128.232012.02.27 11:28128.230.000.000.001 064.10 118315052012.02.27 00:25sell1.00gbpjpy129.140.00127.752012.02.27 12:34127.750.000.000.001 724.35 118315162012.02.27 00:48sell1.00usdjpy81.300.000.002012.02.27 10:5381.120.000.000.00221.89 118315172012.02.27 00:49sell1.00gbpusd1.58900.00000.00002012.02.27 03:211.58770.000.000.00130.00 118323882012.02.27 02:42sell1.00gbpjpy129.490.00128.052012.02.27 12:19128.050.000.000.001 783.94 118330772012.02.27 04:59sell2.00gbpjpy128.750.00127.792012.02.27 12:34127.790.000.000.002 381.84 118446382012.02.28 11:29sell2.00gbpjpy128.10129.27127.812012.02.28 13:09127.810.000.000.00718.98 0.00 0.00 -9.27 9 269.73 Closed P/L: 9 260.46 Open Trades: TicketOpen TimeTypeSizeItem PriceS / LT / P PriceCommissionTaxesSwapProfit No transactions 0.00 0.00 0.00 0.00 Floating P/L: 0.00 Working Orders: TicketOpen TimeTypeSizeItem PriceS / LT / PMarket Price No transactions Summary: Deposit/Withdrawal: 10 000.00 Credit Facility: 0.00 Closed Trade P/L: 9 260.46 Floating P/L: 0.00 Margin: 0.00 Balance: 19 260.46 Equity: 19 260.46 Free Margin: 19 260.46
I tried same results on different demo accounts.
Amounts not important but the fact that this pattern of GBP/JPY is predictable.
Please observe for few days to a week you'll see I may have stumbled something profitable..I use Charts only to see general market data but ignore minor ups/downs.
I don't believe in indicators.I believe in my own eyes and observations

Sorry about the mess.I progressively sold and once got lower closed the trades.
In trading, you have to be defensive and aggressive at the same time
  • #7
  • Edited Feb 29, 2012 12:02am Feb 28, 2012 1:59pm | Edited Feb 29, 2012 12:02am
Quoting Erebus
The purpose of this thread to tell us that alone? Or will you be posting some charts with trades?

80%, is that 8 of 10 or 80 of 100 trades, or how long have you been trading this method?

Please, throw us more crumbs...

for a 3 weeks and only this pair.Funny we have become husband and wife LOL
forget 80%
Fact is I made ton of fake money trading this pattern.
In trading, you have to be defensive and aggressive at the same time
  • #8
  • Feb 28, 2012 5:59pm Feb 28, 2012 5:59pm
Quoting Davit
1st I am new to forex and my experience could be elementary perhaps idiotic however on my demo account it has been making solid profit 80% times.
Quick background on myself.Age 48 an Artist studied Engineering and Chess addict.
My "system" is simple.
ONLY trade on daily highs and lows.Not in between.My focus is price action and nothing else.NO INDICATOR USED NONE!
As you know this pair in particular goes wide swings usually 126 to 128 and sometimes 129.
I buy 126-27 sell 128-129
Trick to me is not to panic maintain your cool because the...
congrts your are earning good profit. but how long you have been using this system?
  • #9
  • Feb 28, 2012 11:43pm Feb 28, 2012 11:43pm
Quoting novenabye
congrts your are earning good profit. but how long you have been using this system?
Thank you.I have traded this pair for 3 weeks.
Just a disclaimer for everyone.I am a total rookie and I feel rather idiotic of starting this thread.
It has been making profit hence I wanted to share.You trade on your own risk.
I suggest you watch this pair in particular because it has one of the widest swings daily.I only try to suggest to take advantage of this "pattern"

I have a chalkboard on my room which I write down the price daily.
I have been reading lot of systems but I keep coming back to the obvious PRICE and where its heading.Not "sopport" not "resistance" but more supply and demand.
What this price is teaching me is this. I know that 126.66 is low so buy is in order no matter what immediate chart says. I know that sometime later usually 2am-4am ET price reaches its prime and sell is in order and price descends again back to previous open usually.
Now lot of you assume I should know ton of complicated jargon,indicators etc to be successful but I think opposite is true rely on your own observations.
That's it.
In trading, you have to be defensive and aggressive at the same time
  • #10
  • Feb 29, 2012 1:18am Feb 29, 2012 1:18am
Feb 29 2.13 Am
Placed sell order GPB-JPY 128.10
sell order 127.97
sell order 127.96

I progressively sell as price moves up but I keep lot smaller.Idea is to progressively increase equity.



If these are losers then be it.I am just trying to illustrate my style of trading which I know is nothing new.
In trading, you have to be defensive and aggressive at the same time
  • #11
  • Edited 1:39am Feb 29, 2012 1:21am | Edited 1:39am
2.19
price is moving down
128.06
sell order 128.10 is already collecting.That's less then 15min

Wanted to add this stye of trading is ideal for 4hr or longer hence 1min 5 min 10 min usual up and downs are irrelevant.(don't get scared)Focus is price and WHERE is heading.
Right now down because as I said on my 1st post 128 is high for this pair.It will come down to 127 and lower.
In trading, you have to be defensive and aggressive at the same time
  • #12
  • Feb 29, 2012 1:28am Feb 29, 2012 1:28am
Quoting Davit
Thank you.I have traded this pair for 3 weeks.
Just a disclaimer for everyone.I am a total rookie and I feel rather idiotic of starting this thread.
It has been making profit hence I wanted to share.You trade on your own risk.
I suggest you watch this pair in particular because it has one of the widest swings daily.I only try to suggest to take advantage of this "pattern"

I have a chalkboard on my room which I write down the price daily.
I have been reading lot of systems but I keep coming back to the obvious PRICE and where its heading.Not "sopport"...
It's not always the difference between a rookie or professional which matters but then the success of any system needs to be analyzed by averaging out on a long term basis. It will be great if you can also post individual trades and who knows that by mutual discussions here some good system evolves
  • #13
  • Feb 29, 2012 1:49am Feb 29, 2012 1:49am
2.39 am Feb 29th weds
Price is 128.22 has climbed a bit. Should one panic? NO!!!! remember we are trading longer time period not short term !

I am documenting this so there is trailing evidence of my "idiotency".

Trading for me is ART. I have destroyed lot of good paintings but learned from them as well.
Amateur artists hang every crap on the walls as a token of greatness however real artists show hell lot more discrimination.
Quality for me is differentiating shit from great.Not everyone can identify shit properly.
In trading, you have to be defensive and aggressive at the same time
  • #14
  • Edited 2:13am Feb 29, 2012 1:56am | Edited 2:13am
Quoting ayako
It's not always the difference between a rookie or professional which matters but then the success of any system needs to be analyzed by averaging out on a long term basis. It will be great if you can also post individual trades and who knows that by mutual discussions here some good system evolves
.
All I ask you watch this pair for a week.I mean watch closely for 6hr-8hr. I firmly belive knowing one pair throughly is better then average awareness of all.
Watch how it moves.Write down the price difference on time period and compare that to which market is open and what happens with price.
You will see a solid pattern.Once you see it will become obvious how to exploit it to your advantage.
Observation is the key.Don't use indicators.USE your eyes and brain.
I was thinking "long term" terminology is inherently faulty in trading.Market is in movement all the time.Perhaps next month there could imerge opposite trend and one must adabt therefore one can not measure something that is in constant shaping and reshaping.
Think of water as the market and water plant as US traders and we must move gracefully always in sink with the flaw of the current.
e
In trading, you have to be defensive and aggressive at the same time
  • #15
  • Feb 29, 2012 2:48am Feb 29, 2012 2:48am
Quoting Davit
.
All I ask you watch this pair for a week.I mean watch closely for 6hr-8hr. I firmly belive knowing one pair throughly is better then average awareness of all.
Watch how it moves.Write down the price difference on time period and compare that to which market is open and what happens with price.
You will see a solid pattern.Once you see it will become obvious how to exploit it to your advantage.
Observation is the key.Don't use indicators.USE your eyes and brain.
I was thinking "long term" terminology is inherently faulty in trading.Market...
Hi,

Could you show some charts, please?

Thanks
  • #16
  • Feb 29, 2012 3:13am Feb 29, 2012 3:13am
Quoting Davit
.
All I ask you watch this pair for a week.I mean watch closely for 6hr-8hr. I firmly belive knowing one pair throughly is better then average awareness of all.
Watch how it moves.Write down the price difference on time period and compare that to which market is open and what happens with price.
You will see a solid pattern.Once you see it will become obvious how to exploit it to your advantage.
Observation is the key.Don't use indicators.USE your eyes and brain.
I was thinking "long term" terminology is inherently faulty in trading.Market...
hmmm... eyes and brains!!! Well, using technical indicators also involve both of these. Or have I been wrongly making my humble profits in trading for past so many years?
  • #17
  • Feb 29, 2012 3:19am Feb 29, 2012 3:19am
Quoting 4Xfactor
Hi,

Could you show some charts, please?

Thanks
I am trading now.4.10 am ET Check your charts daily weekly etc.no different then mine.I trade on price only.Not pivot points!Not resistance/sopport etc.I trade on price and price movement only.To understand what I mean please spend time watching this pair in real time and write down price behavior every hr.You do that 3 days you'll understand its patterns.

Modified all my trades to take profit at

127.45
127.55
127.65
Going to bed.We will see later if the targets were hit.
In trading, you have to be defensive and aggressive at the same time
  • #18
  • Feb 29, 2012 3:29am Feb 29, 2012 3:29am
Quoting forex-
hmmm... eyes and brains!!! Well, using technical indicators also involve both of these. Or have I been wrongly making my humble profits in trading for past so many years?
Perhaps I am an idiot but if I were to teach painting to a student I would not teach them painting.I would teach them to learn to draw 1st.
If you can draw well you can paint.
What's got to do with trading?
In my style of trading indicators gives falls alarms since they are lagging behind.
I am not saying nobody should use them but in swing trading they are not terribly useful.
Remember I don't assume I am an expert nor I know what I am talking about.I merely tried to share perhaps I accidentally stumbled something profound that makes money.
I have been obsessively tracking this pair's price movements for 3weeks and making serious fake money.
In trading, you have to be defensive and aggressive at the same time
  • #19
  • Feb 29, 2012 4:58am Feb 29, 2012 4:58am
Charts, someone mentioned charts?

Here is a series of top down how I would work out whether to be long or short.

Both Weekly & Daily have to be above the Super Trend line up (yellow), and then enter on 4 Hour or 1 Hour time frames on pull backs, then breakout Super Trend on that time frame.

So Weekly & Daily clearly up trend for now...

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It takes a lot for me to IGNORE you, but you can try.
  • #20
  • Feb 29, 2012 5:02am Feb 29, 2012 5:02am
Next is 4 Hour chart, break of 128.928 is signal the UP trend continues. The 1 Hour entry was at 127.743 with stop now at 127.755 at Super Trend down line (blue)

Also, I'm going to bed and will see where price is tomorrow, I have no trade on now, and I'm sure there will be further pull back to present good entries.

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It takes a lot for me to IGNORE you, but you can try.
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