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GBP/JPY Scalpers

  • #81
  • Apr 18, 2012 7:31am Apr 18, 2012 7:31am
Quoting rmrf
AUD/JPY SELL 84.44 Opened Short | 3 min ago

http://www.forexfactory.com/nfs/cust...tar67841_4.gif rmrf...
scalp! I wanna be a swing trader, but I dont like to lose $
  • #82
  • Apr 18, 2012 7:33am Apr 18, 2012 7:33am
Quoting rmrf
scalp! I wanna be a swing trader, but I dont like to lose $
patience! ARG
  • #83
  • Apr 18, 2012 9:55am Apr 18, 2012 9:55am
Maybe
  • #84
  • Apr 19, 2012 5:49am Apr 19, 2012 5:49am
are you kidding?!?

FF, TE, is claiming over 5000 pips gained for the week, and it only thursday>?

I guess mr roo fx is out of comments?

Quoting Roofx
How's it going rmrf? -8,600 pips. I'm sure it's all going according to plan. I can't wait to see how you turn this colossal drawdown into a profit. Most people don't trade this way, but most people lose, so I will be interested to see the outcome of this If you can turn this into an equal profit for a 1:1 RR I will be very impressed.
  • #85
  • Apr 23, 2012 11:52am Apr 23, 2012 11:52am
Hi rmrf,

I'm not out of comments, I just wasn't hanging out on FF for a few days.

Your trade explorer is looking better now but this is still a high risk strategy and you got lucky. What is price carried on down for thousands more pips? What is your exit plan? At one point a massive percentage of your whole account was gone and you just hoped and prayed price would bottomw out and head back up. When this happens you are lucky and can get back out with a profit after taking a massive risk. But other times price will simply keep going down until your account can't afford the drawdown and bang, you lose everything.

You were down over 8000 pips and unless you plan to finish up making +8000 pips in the end of this your RR is just mad.

I honestly wish you the best of luck in this gambling adventure and I hope you make a heap of money and then quit before your luck changes.
  • #86
  • Apr 23, 2012 12:32pm Apr 23, 2012 12:32pm
Quoting rmrf
patience! ARG
Hi roofx

1/ GBPJPY - well your patient stubbornness is paying off as it very much looks like 133.00 is now the target - well done but you must have nerves of steel!

2/ AUDJPY - you were right about the drop but what do you use as your trigger? Have a look at the attached chart. What I'm experimenting with at the moment (and it's working quite well) is trading a clean break of the 200 SMA mainly on the 30 min chart but you can use the 15 min chart, IF you want to be more daring. I use the 15 min chart on the USD pairs and the 30min chart on the JPY pairs - seems to be about right. Have a look see what you think but it really cuts out worthless "going nowhere" trades.

Rgds

Jerry
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpy 4hr.gif Size: 22 KB
Click to Enlarge Name: audjpy 30 min.gif Size: 24 KB
  • #87
  • Apr 23, 2012 12:55pm Apr 23, 2012 12:55pm
Sorry if you want to see the the same chart as I posted above I am posting my indicators and template below.

By the way, using this little strategy, I opened a sell trade on EURCAD earlier today (I actually sold off the 200 SMA on the 5 min chart!) and I'm now 45 pips in profit.
Attached File(s)
File Type: ex4 Vegas Currency Daily.ex4   6 KB | 174 downloads
File Type: ex4 FF Tunnel Chart.ex4   6 KB | 198 downloads
File Type: ex4 Grid Builder.ex4   3 KB | 187 downloads
File Type: ex4 FBS Pivots.ex4   13 KB | 190 downloads
File Type: tpl 200 sma system.tpl   36 KB | 163 downloads
  • #88
  • Apr 23, 2012 1:01pm Apr 23, 2012 1:01pm
Jerry as long as no one minds me springing in the middle of the conversation. MT, all the ten pairs are headed for a another drop. Most of the pairs had a correctional move only on the daily, but there are strong implications of moves further south on the weekly.


Quoting jmtini
Hi roofx

1/ GBPJPY - well your patient stubbornness is paying off as it very much looks like 133.00 is now the target - well done but you must have nerves of steel!

2/ AUDJPY - you were right about the drop but what do you use as your trigger? Have a look at the attached chart. What I'm experimenting with at the moment (and it's working quite well) is trading a clean break of the 200 SMA mainly on the 30 min chart but you can use the 15 min chart, IF you want to be more daring. I use the 15 min chart on the USD pairs and the 30min chart on...
  • #89
  • Apr 23, 2012 7:40pm Apr 23, 2012 7:40pm
Quoting 4xpipcounter
Jerry as long as no one minds me springing in the middle of the conversation. MT, all the ten pairs are headed for a another drop. Most of the pairs had a correctional move only on the daily, but there are strong implications of moves further south on the weekly.
You may be right or you may be wrong all depends on Wednesday - big news day regarding the UK economy!
  • #90
  • Apr 23, 2012 7:58pm Apr 23, 2012 7:58pm
Right, but the news event on Wednesday has nothing to do with the MT view.

Best way to trade the news is draw your channel lines, have an entry on either side, wait for one of them to hit, then bag the profits. I trade the NFP exactly that way every 1st Friday of the month.


Quoting jmtini
You may be right or you may be wrong all depends on Wednesday - big news day regarding the UK economy!
  • #91
  • Apr 24, 2012 7:26am Apr 24, 2012 7:26am
I too am looking for a MT drop, and hoping, so I can buy more guppy in the dips. we should run on down to 129.30 (23.6 fib), then say hello to 133.00 (0.0 fib). buying in the dips all the way down for the ride up.

and those that mention luck, HAHA, there is no such thing, everything is cause and effect, every cause has an effect, and there is no effect without a cause, and you cannot separate the two. PA is an effect and not a cause of anything except traders making and losing pips.

the weekly doesn't look bearish to me, LT we are still in up mode.

Quoting 4xpipcounter
Jerry as long as no one minds me springing in the middle of the conversation. MT, all the ten pairs are headed for a another drop. Most of the pairs had a correctional move only on the daily, but there are strong implications of moves further south on the weekly.
  • #92
  • Apr 24, 2012 8:17am Apr 24, 2012 8:17am
I don't think were going any lower, the last run down to 130.20 yesterday was 38 fib from the last run up. Wave 5 has just begun, we'll see how far wave 5 should bring us this week.
  • #93
  • Apr 25, 2012 2:38pm Apr 25, 2012 2:38pm
is it Friday yet? Tough week so far, but looking at a 1.3% gain for the week which is decent.
  • #94
  • Apr 25, 2012 2:40pm Apr 25, 2012 2:40pm
5:15pm USD Treasury Sec Geithner Speaks
  • #95
  • Apr 25, 2012 3:59pm Apr 25, 2012 3:59pm
Looks like a temporary top at 131.60 - needs to break through
  • #96
  • Apr 26, 2012 7:43am Apr 26, 2012 7:43am
now looking for 130.50 to add more longs

Quoting jmtini
Looks like a temporary top at 131.60 - needs to break through
  • #97
  • Apr 27, 2012 3:02pm Apr 27, 2012 3:02pm
Quoting rmrf
now looking for 130.50 to add more longs

Mmm I would be really careful.

RSI on daily looks bearish to be honest.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy daily.gif Size: 17 KB
  • #98
  • Apr 27, 2012 5:12pm Apr 27, 2012 5:12pm
129.50 would be the ideal entry for longs.
  • #99
  • May 2, 2012 6:19am May 2, 2012 6:19am
would have had some fat pips had I held on to that one up into 130,70's

Quoting mrroboto
129.50 would be the ideal entry for longs.
  • #100
  • May 2, 2012 9:35am May 2, 2012 9:35am
Quoting rmrf
would have had some fat pips had I held on to that one up into 130,70's
Here's your chance to buy again and hold until 133, if you can hold on to loosing trades its the same us holding on to winning trades only feels better.
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