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Geppy's Geppy Thread (GBP/JPY)

  • #1,481
  • Mar 4, 2013 12:15pm Mar 4, 2013 12:15pm
Am short at 140.86 target 139.45
Forex Learner
  • #1,482
  • Mar 4, 2013 12:21pm Mar 4, 2013 12:21pm
Quoting Geppy
Pretty boring PA to start the week. The pressure does still feel like it's on the top side, but the 141 zone sure is being a pain in the ass. I'm still holding my longs from last week.
So Geppy, what was it that really made you change direction?

Just a couple weeks ago you were convinced that we were in a downtrend. You kept saying that we failed to break 148.00 , etc.

Just curious to hear your thoughts on that...
Trade at your own risk.
  • #1,483
  • Mar 4, 2013 12:26pm Mar 4, 2013 12:26pm
Quoting whatever007
It's fine if your win rate is high, > 60%.
Yeah, but still leaves nearly nothing after spread. Not to mention how many trades you'd have to make every day to make a living.
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  • #1,484
  • Mar 4, 2013 12:27pm Mar 4, 2013 12:27pm
Quoting Fx3423454
So Geppy, what was it that really made you change direction?

Just a couple weeks ago you were convinced that we were in a downtrend. You kept saying that we failed to break 148.00 , etc.

Just curious to hear your thoughts on that...
My views have been extremely well documented throughout this thread. I wasn't saying we were in a prolonged downtrend. I said it was a correction, and I didn't know where it would stop, but I planned to ride it until it did.

However, the answer to your question is extremely simple. There's only one thing that should make anyone change their bias: PA.
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  • #1,485
  • Mar 4, 2013 12:28pm Mar 4, 2013 12:28pm
Quoting Geppy
Yeah, but still leaves nearly nothing after spread. Not to mention how many trades you'd have to make every day to make a living.
That's true, I can't trade that way but to each his own.
Soar on my wings, you'll touch the hand of God, he'll make you King.
  • #1,486
  • Mar 4, 2013 12:33pm Mar 4, 2013 12:33pm
GJ suddenly got wings
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #1,487
  • Mar 4, 2013 1:11pm Mar 4, 2013 1:11pm
I'd really like to see us close above 141 today...
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  • #1,488
  • Mar 4, 2013 1:31pm Mar 4, 2013 1:31pm
S&P500 is flying, I guess good chance for GJ to close above 141
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #1,489
  • Mar 4, 2013 1:40pm Mar 4, 2013 1:40pm
Quoting Geppy
I'd really like to see us close above 141 today...
Finally broke it. Thanks to the pound. Woop woop! Looks good!
  • #1,490
  • Mar 4, 2013 1:59pm Mar 4, 2013 1:59pm
Quoting BobGnarly
This is my TP area...
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  • #1,491
  • Mar 4, 2013 2:32pm Mar 4, 2013 2:32pm
Quoting BobGnarly
lol, thumbs uping your own posts... I like it.
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  • #1,492
  • Mar 4, 2013 2:35pm Mar 4, 2013 2:35pm
By the way... 100 pages for the Geppy thread. Nice!
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  • #1,493
  • Mar 4, 2013 2:47pm Mar 4, 2013 2:47pm
Quoting Geppy
By the way... 100 pages for the Geppy thread. Nice!
congratulations
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #1,494
  • Mar 4, 2013 3:00pm Mar 4, 2013 3:00pm
I bet you're digging this, Bob:

http://www.forexlive.com/blog/2013/0...short-the-yen/
check out my blog: forexmademillionaire dot com
  • #1,495
  • Mar 4, 2013 3:17pm Mar 4, 2013 3:17pm
Nice I thought my 120 TP was a little hight but 200?? Hahaha I like that

GJ should be about 160 in a few months
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  • #1,496
  • Mar 4, 2013 3:18pm Mar 4, 2013 3:18pm
Quoting BobGnarly
Nice I thought my 120 TP was a little hight but 200?? Hahaha I like that

GJ should be about 160 in a few months
I wish I had the patience to hold till 160.
Maybe I should change my password and tell Oanda to lock me out until GJ hits 160 lol
  • #1,497
  • Mar 4, 2013 3:19pm Mar 4, 2013 3:19pm
Quoting forextine
I wish I had the patience to hold till 160.
Maybe I should change my password and tell Oanda to lock me out until GJ hits 160 lol

Hahaha if that's what it takes! I have changed my trading drastically, took 3 postions in the last 3 weeks... Position and pyramiding for long periods seems to suit me the best
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  • #1,498
  • Mar 4, 2013 3:27pm Mar 4, 2013 3:27pm
Quoting Geppy
I bet you're digging this, Bob:

http://www.forexlive.com/blog/2013/0...short-the-yen/

You going to hold bro? I remember you saying 21 was your tp.
Want the lifestyle of the top traders in the world? TAKE RISK.
  • #1,499
  • Mar 4, 2013 3:29pm Mar 4, 2013 3:29pm
Quoting BobGnarly
Hahaha if that's what it takes! I have changed my trading drastically, took 3 postions in the last 3 weeks... Position and pyramiding for long periods seems to suit me the best
Bob, I love pyramiding. The thing is, back in the day it was much easier/more lucrative to do so.

What I mean is trading regulations have drastically changed in the last 5 years. Besides allowable leverage, no more hedging, and other regulations, there is one that goes (I feel) largely unnoticed.

I used to be able to hold trades and receive increasing amounts of unused margin as those positions went in my favor. Basically, I could keep putting on more and more volume as long as the trades were going in my way.

That's no longer the case. My unused margin no longer increases as my positions continue in my favor. It's not until I take profits on my open positions that I'm able to leverage this new, earned margin.

That really sucks in my book and that's the main reason I don't hold trades as long as I used to. I now try to find areas I can take profit along the way and get back in on pullbacks. Even if I miss some pips along the way, this strategy is far more lucrative as I'm able to put on larger positions.

My question is, are you experiencing this same thing with your broker? Does it bother you, or does it simply not play into your trading style?

I'm curious.
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  • #1,500
  • Mar 4, 2013 3:30pm Mar 4, 2013 3:30pm
Quoting BobGnarly
You going to hold bro? I remember you saying 21 was your tp.
My TP was .20, yeah... however, I bumped it to 141.50 last night which falls just below the 38.2% fib retracement from the most recent down move on a 4h chart. At least, I think that's the right level... I'm not in front of my charts.
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