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  • #1,501
  • Mar 4, 2013 3:34pm Mar 4, 2013 3:34pm
Quoting Geppy
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.

Gotcha
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  • #1,502
  • Mar 4, 2013 3:53pm Mar 4, 2013 3:53pm
Quoting Geppy
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....
I use FXCM and yes, when trades go in my favor my usable margin starts to go up...

I don't know if this helps answer your question. I know it wasn't directed toward me.
Trade at your own risk.
  • #1,503
  • Mar 4, 2013 3:59pm Mar 4, 2013 3:59pm
Just something to think about....
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  • #1,504
  • Mar 4, 2013 4:00pm Mar 4, 2013 4:00pm
Quoting Fx3423454
I use FXCM and yes, when trades go in my favor my usable margin starts to go up...

I don't know if this helps answer your question. I know it wasn't directed toward me.
Gotcha, thanks. It may just be my broker being a bit more conservative. I hate FXCM though... they operate too far into that bucket shop grey area for me.
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  • #1,505
  • Mar 4, 2013 4:01pm Mar 4, 2013 4:01pm
Quoting BobGnarly
Just something to think about....
Nice chart dude... very interesting AND sexy
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  • #1,506
  • Mar 4, 2013 4:05pm Mar 4, 2013 4:05pm
Quoting Geppy
Nice chart dude... very interesting AND sexy

Thanks man .. And yes I agree with your above post about position trading being more lucrative in the past.. My brokers margin fluctuates with my trades, if trade goes up then margin goes up.
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  • #1,507
  • Mar 4, 2013 4:07pm Mar 4, 2013 4:07pm
Quoting BobGnarly
Thanks man .. And yes I agree with your above post about position trading being more lucrative in the past.. My brokers margin fluctuates with my trades, if trade goes up then margin goes up.
Hmmm... seems like I'm the odd one out with the broker and the changes in fluctuating margin. I do like getting in and out though to some extent though.

Just look at that monthly chart you posted. There are a lot of areas where it is range bound and it would serve you well to be able to get in and out of positions rather than just holding.

But as always, to each their own.
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  • #1,508
  • Edited 4:21pm Mar 4, 2013 4:09pm | Edited 4:21pm
Quoting Geppy
Hmmm... seems like I'm the odd one out with the broker and the changes in fluctuating margin. I do like getting in and out though to some extent though.

Just look at that monthly chart you posted. There are a lot of areas where it is range bound and it would serve you well to be able to get in and out of positions rather than just holding.

But as always, to each their own.

Agree with you completely.. I have one account for holding and the other I trade with, well it didnt mean to be that way but after trading for some time I believe thats what is best for me. If I look at things for too long I make stupid mistakes. Bringing up a daily chart once a day does me much more good than bad.

But yes, from point A to Z there is noise in between but if you draw a trendline its always straight


Ohh shit this was my 1k post !
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  • #1,509
  • Mar 4, 2013 4:26pm Mar 4, 2013 4:26pm
Quoting BobGnarly
Agree with you completely.. I have one account for holding and the other I trade with, well it didnt mean to be that way but after trading for some time I believe thats what is best for me. If I look at things for too long I make stupid mistakes. Bringing up a daily chart once a day does me much more good than bad.

But yes, from point A to Z there is noise in between but if you draw a trendline its always straight
I used to do the buy/sell, hold, add, hold, add, rinse and repeat stuff all the time. Honestly, I tended to favor this approach because I din't have the discipline and/or ability to be able to get in and out without beating up my account, second guessing myself, etc.

However, after years of doing that, you notice you start getting better and better and better at adding to your positions without taking much drawdown on those additions. You also start getting a feel for where you "should" have taken profit.

When I started recognizing this, I started trading in this manner... taking trades on and off while keeping the big picture in mind. It definitely allows one to stay nimble and even catch pips that are count-trend (like during retracements like the one we've been experiencing with Geppy).

I still think this method is superior if:

  1. You've developed the experience to master it
  2. You've got the time to check the charts a couple times per day


For example, last week I had a stellar week (returning a bit more than 100% on my account), but had I simply bought and held and maybe added a few times, I wouldn't have made nearly the kind of ROI I did trading in and out.

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  • #1,510
  • Mar 4, 2013 5:20pm Mar 4, 2013 5:20pm
I decided to take profit here at 141.29 rather than wait for 141.50ish or so.

My floating p&l was pretty large, so it's nice to bank it, plus I'd like to see a retest of the break-out level near 141.00/140.90 to reload longs.

I'm out for a bit. I desperately need a nap!
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  • #1,511
  • Mar 4, 2013 5:36pm Mar 4, 2013 5:36pm
Quoting Geppy
I decided to take profit here at 141.29 rather than wait for 141.50ish or so.

My floating p&l was pretty large, so it's nice to bank it, plus I'd like to see a retest of the break-out level near 141.00/140.90 to reload longs.

I'm out for a bit. I desperately need a nap!

$$$ nice bro!
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  • #1,512
  • Mar 4, 2013 7:01pm Mar 4, 2013 7:01pm
Hey Gepp... Thanks for those last posts man... I wanna save and re-read them... they really help with where I am currently.

I do feel I have the wave count on this guy this week tho. I had anticipated a move up to around 141.60 (we got close) before a corrective wave four down to the 38 fib of that wave recent wave 3 (140.20 - 141.40) ..... which finds support right around 140.56.... so I am short somewhat heavy to 140.76... then I will be long from 140.60ish to 142.80 which is my projected wave target tp.... based on the current plus of the ew that the gj has been making...

I hear you Gepp on EW analysis... its a bitch... mostly bc its so hard to get the actual count... I know you think its fooey .... I think thats mostly bc getting the count is an art....
  • #1,513
  • Mar 4, 2013 7:56pm Mar 4, 2013 7:56pm
Quoting Geppy
I decided to take profit here at 141.29 rather than wait for 141.50ish or so.

My floating p&l was pretty large, so it's nice to bank it, plus I'd like to see a retest of the break-out level near 141.00/140.90 to reload longs.

I'm out for a bit. I desperately need a nap!
Thanks for the kick in the ass and reminding me not to be so greedy. I've had a couple positions open since middle of last week and was thinking "I'll let them run." Had 2 longs at a 139.75 and 140.25....closed both at 141.3. Thought about leaving one open still, but greed kills. I already sweat through two serious draw downs this past week.


You mentioned all the new regulations? I haven't traded in about 3-4 years and things sure have changed. The no hedging just kills me. Back in 08-09 I used to hedge this pair like crazy and make mad pips on those 2-300 pip swings days. Only problem I used to like to trade in the London hours and I live in Colorado. I had to give up the addiction or die from sleep deprivation.

Waiting for the pull back to the 140.20 (ish range) or maybe just above the 20EMA on the 4H at 140.50.
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Illegitimi Non Carborundum
  • #1,514
  • Mar 4, 2013 7:57pm Mar 4, 2013 7:57pm
Quoting Teddicus
Hey Gepp... Thanks for those last posts man... I wanna save and re-read them... they really help with where I am currently.

I do feel I have the wave count on this guy this week tho. I had anticipated a move up to around 141.60 (we got close) before a corrective wave four down to the 38 fib of that wave recent wave 3 (140.20 - 141.40) ..... which finds support right around 140.56.... so I am short somewhat heavy to 140.76... then I will be long from 140.60ish to 142.80 which is my projected wave target tp.... based on the current plus of the...
If it works for you, go for it!
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  • #1,515
  • Mar 4, 2013 8:03pm Mar 4, 2013 8:03pm
Quoting Choopyaz
Thanks for the kick in the ass and reminding me not to be so greedy. I've had a couple positions open since middle of last week and was thinking "I'll let them run." Had 2 longs at a 139.75 and 140.25....closed both at 141.3. Thought about leaving one open still, but greed kills. I already sweat through two serious draw downs this past week.


You mentioned all the new regulations? I haven't traded in about 3-4 years and things sure have changed. The no hedging just kills me. Back in 08-09 I used to hedge this pair like crazy and make...
Good stuff, dude. That's a relatively deep correction you're looking for. I'm not sure we'll see it that far. We've been seeing some good corrections the last week or so, but we're finally breaking above 141 and looking like we want to stay there. Sterling is showing some life this week and the BoJ is starting to blab a bit, so who knows what the coming days hold, but I think we'll be going higher.

I've got orders for 15% of my position at 141.00 and 15% more at 140.95... if/once filled, I'll be seeing how she reacts in that area as it was pretty solid resistance going back to the 28th of last month. It's a no-brainer buy zone, but I'll add if she goes lower too.
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  • #1,516
  • Mar 4, 2013 8:14pm Mar 4, 2013 8:14pm
Quoting Geppy
Good stuff, dude. That's a relatively deep correction you're looking for. I'm not sure we'll see it that far. We've been seeing some good corrections the last week or so, but we're finally breaking above 141 and looking like we want to stay there.
I definitely see your point. I had some S/R lines drawn on another chart last night and had 141 and 142 as big time Resistance. We blew through the first and now the 20EMA is rising towards the 50 and the 50EMA is just above 141. Not to mention all the action around 140.90 over the past week or so. Good call and thanks again.

On that note thank you, Geppy, for reviving this thread and thanks to all here that contribute well thought out and rational opinions.
Illegitimi Non Carborundum
  • #1,517
  • Mar 4, 2013 8:16pm Mar 4, 2013 8:16pm
Quoting Choopyaz
I definitely see your point. I had some S/R lines drawn on another chart last night and had 141 and 142 as big time Resistance. We blew through the first and now the 20EMA is rising towards the 50 and the 50EMA is just above 141. Not to mention all the action around 140.90 over the past week or so. Good call and thanks again.

On that note thank you, Geppy, for reviving this thread and thanks to all here that contribute well thought out and rational opinions.
That's my point... we did not blow through the 141 resistance. It held it's own for about a week before we managed to push through. So, you'd think this same level would provide some good support.

We'll see what happens when we get there, but regardless... I'm buying at least a little bit.
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  • #1,518
  • Mar 4, 2013 9:24pm Mar 4, 2013 9:24pm
Quoting Geppy
I've got orders for 15% of my position at 141.00 and 15% more at 140.95... if/once filled, I'll be seeing how she reacts in that area as it was pretty solid resistance going back to the 28th of last month. It's a no-brainer buy zone, but I'll add if she goes lower too.

Filled at 141.00 and looks like I should have a problem getting 140.95 either. Probably see lower than that. USD/JPY is taking a small dump right now.
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  • #1,519
  • Mar 4, 2013 9:30pm Mar 4, 2013 9:30pm
Quoting Geppy
Filled at 141.00 and looks like I should have a problem getting 140.95 either. Probably see lower than that. USD/JPY is taking a small dump right now.
Me too at 141.00. Looking a bit lower at 140.80ish for another hopefully. 200sma usually a good touch on 1H
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  • #1,520
  • Mar 4, 2013 9:31pm Mar 4, 2013 9:31pm
Quoting albchr
Me too at 141.00. Looking a bit lower at 140.80ish for another hopefully.
Nice dude! Good to see you around this week.
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