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Geppy's Geppy Thread (GBP/JPY)

  • #3,041
  • Mar 24, 2013 7:55pm Mar 24, 2013 7:55pm
Quoting Oser
Scalp long?

Bold trade alb!

Got in some at 51 yes long. My main accounts are avg around 143.85
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  • #3,042
  • Mar 24, 2013 8:00pm Mar 24, 2013 8:00pm
Quoting Geppy
I've found that I'm most profitable holding for days (not week or hours).

Trying to take shorter term trades inevitably leads to trading against the trend which inevitably results in more losses than gains.

But hey, that's just me.
Playing both ways (in any trend) is certainly not for everyone. When placing CT trades it's important to cover/close quickly and not expect much. As long as I know the overall trend and the places within the ranges it can bounce, it's a pretty good way to add up pips for me.

Still looking for a good buy lower down as I won't buy up here right now.
Ghost Rider - WWTBMD?
  • #3,043
  • Mar 24, 2013 8:06pm Mar 24, 2013 8:06pm
Eurogroup passed it..lt shouldnt need parliament approval since it's not a tax..
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  • #3,044
  • Mar 24, 2013 8:12pm Mar 24, 2013 8:12pm
Quoting BobGnarly
Eurogroup passed it..lt shouldnt need parliament approval since it's not a tax..
Aye, and Kuroda speaks tomorrow. Should be interesting.
  • #3,045
  • Mar 24, 2013 8:14pm Mar 24, 2013 8:14pm
Quoting Oser
Aye, and Kuroda speaks tomorrow. Should be interesting.
meh... usually isn't.
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  • #3,046
  • Mar 24, 2013 8:14pm Mar 24, 2013 8:14pm
Quoting BobGnarly
Got in some at 51 yes long. My main accounts are avg around 143.85

Closed the big scalp at 68+17. Was a big trade and scalp was the plan


Now to start adding more longs to my main accounts.
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  • #3,047
  • Mar 24, 2013 8:38pm Mar 24, 2013 8:38pm
Watching the 1min (I know... I know) and been watching this bull flag. Looks like we've got a break
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym1.png Size: 100 KB
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  • #3,048
  • Mar 24, 2013 8:38pm Mar 24, 2013 8:38pm
I'm out... -5 will wait some more.
Ghost Rider - WWTBMD?
  • #3,049
  • Mar 24, 2013 8:39pm Mar 24, 2013 8:39pm
Quoting albchr
I'm out... -5 will wait some more.
Trend is clearly bullish now that Cyprus is looking like it's resolved. No reason to fight it.
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  • #3,050
  • Mar 24, 2013 8:48pm Mar 24, 2013 8:48pm
Quoting Geppy
Trend is clearly bullish now that Cyprus is looking like it's resolved. No reason to fight it.
Not fighting it bro. Been bullish for weeks now Just thought I could grab a few on the way down. It will drop but just not yet.

If I had long positions in like you and Bob I wouldn't even consider CT's.
Ghost Rider - WWTBMD?
  • #3,051
  • Mar 24, 2013 8:55pm Mar 24, 2013 8:55pm
Quoting albchr
Not fighting it bro. Been bullish for weeks now Just thought I could grab a few on the way down. It will drop but just not yet.

If I had long positions in like you and Bob I wouldn't even consider CT's.
Been holding my longs since last week. I added some at 144.40 and adding a little bit here.

Why not?
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  • #3,052
  • Mar 24, 2013 9:00pm Mar 24, 2013 9:00pm
Abe just said, 2% inflation must be sooner rather than later, calling for bold easing ASAP
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  • #3,053
  • Mar 24, 2013 9:08pm Mar 24, 2013 9:08pm
Quoting Geppy
Been holding my longs since last week. I added some at 144.40 and adding a little bit here.

Why not?
You can afford to. I can't up here unless I want to tie my hands all week It's early in the week and I still see a potential for 144 at least to get in long. I don't buy Cypruss being "solved" yet. I may be wrong but if so, I can always jump on board northbound when she leaves.

For weeks I've been doing the "buying on the way down". That's cool and all with larger accounts, but with a tiny account it wraps me up pretty quickly and then I have to sit and wait for the trend to resume. Boring! LOL

I watched a LOT of pips go by last week I couldn't do anything about....LOL
Ghost Rider - WWTBMD?
  • #3,054
  • Mar 24, 2013 9:10pm Mar 24, 2013 9:10pm
Quoting BobGnarly
Abe just said, 2% inflation must be sooner rather than later, calling for bold easing ASAP
Been saying that for a year now. Ok so now he's in but it's still the same old line...LOL

It'll probably happen...but...when?
Ghost Rider - WWTBMD?
  • #3,055
  • Mar 24, 2013 9:10pm Mar 24, 2013 9:10pm
Japanese intervention...anyone?.....that usually happens at 11.30 pm new york time or 7:30 pm new york time......
  • #3,056
  • Mar 24, 2013 9:11pm Mar 24, 2013 9:11pm
Quoting BobGnarly
Abe just said, 2% inflation must be sooner rather than later, calling for bold easing ASAP
Nothing new here. Until they actually take action on this jawboning, we won't see a crazy, huge spike. But I'm sure we'll continue to grind higher regardless.
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  • #3,057
  • Mar 24, 2013 9:12pm Mar 24, 2013 9:12pm
Quoting albchr
You can afford to. I can't up here unless I want to tie my hands all week It's early in the week and I still see a potential for 144 at least to get in long. I don't buy Cypruss being "solved" yet. I may be wrong but if so, I can always jump on board northbound when she leaves.

For weeks I've been doing the "buying on the way down". That's cool and all with larger accounts, but with a tiny account it wraps me up pretty quickly and then I have to sit and wait for the trend to resume. Boring! LOL

I watched a LOT of pips go by last...
Not sure I understand where you're coming from.

You say "buying on the way down" hasn't worked for you, yet you aren't buying now (on the way up) and waiting for lower prices to buy (which would be "on the way down").
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  • #3,058
  • Mar 24, 2013 9:13pm Mar 24, 2013 9:13pm
Quoting Geppy
Watching the 1min (I know... I know) and been watching this bull flag. Looks like we've got a break

Nice retest of the flag so far... if she holds, we'll be seeing new session highs in no time.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym1.png Size: 101 KB
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  • #3,059
  • Mar 24, 2013 9:20pm Mar 24, 2013 9:20pm
Quoting Geppy
Not sure I understand where you're coming from.

You say "buying on the way down" hasn't worked for you, yet you aren't buying now (on the way up) and waiting for lower prices to buy (which would be "on the way down").
No dude, never said it wasn't working. Been making good pips doing it . I can afford 3 positions tops. (remember, $500 "standard" account). So I could buy here, it drops say 30, buy there, it drops say another 30 buy there and then I'm done until in profit again however long that takes.

So in my position, (Assuming it will drop like I think it will and only time and PA will tell me that), Why not sell here, drops 30, sell again drops 30 and then let it bottom cash out and buy on the way back up? Know what I mean?

Now again, if PA tells me it will take off from here, then yep, I buy here.
Ghost Rider - WWTBMD?
  • #3,060
  • Mar 24, 2013 9:23pm Mar 24, 2013 9:23pm
Quoting albchr
No dude, never said it wasn't working. Been making good pips doing it . I can afford 3 positions tops. (remember, $500 "standard" account). So I could buy here, it drops say 30, buy there, it drops say another 30 buy there and then I'm done until in profit again however long that takes.

So in my position, (Assuming it will drop like I think it will and only time and PA will tell me that), Why not sell here, drops 30, sell again drops 30 and then let it bottom cash out and buy on the way back up? Know what I mean?

Now again, if PA tells...
It sounds like the size of your account is limiting your options for trading styles. Well... it's actually not the size of your account, but rather your broker's minimum order size.

Have you thought of moving to Oanda? They let your trade ANY size. That means you wouldn't be bound to trading "micro" lots but could trade even smaller sizes than that.

It sure would free you up to trade the way you want to trade.

Just a thought, but I see your dilemma and it seems moving to Oanda is a logical thing to do for ya.

It also seems that because of the limited number of positions you can put on, you're being forced to try and "time" PA too much... which as we know, is insanely difficult to do.
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