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Geppy's Geppy Thread (GBP/JPY)

  • #3,501
  • Mar 28, 2013 10:36am Mar 28, 2013 10:36am
Quoting BobGnarly
I think 10 weeks of consolidation is enough
you call 1000 pips just consolidation?
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  • #3,502
  • Mar 28, 2013 10:38am Mar 28, 2013 10:38am
Quoting KillerWhale
you call 1000 pips just consolidation?

In a 2000 pip up move yes I do
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  • #3,503
  • Mar 28, 2013 10:39am Mar 28, 2013 10:39am
Quoting KillerWhale
Right on time I think, it's going through 143
Here it goes down.
  • #3,504
  • Mar 28, 2013 10:41am Mar 28, 2013 10:41am
Quoting forex_growth
huh...

its purely cable thats being the bitch...

still holding shorts - and stupid euro is doing my nut in LOL

wheeeeeeeeeeee
Yea, cable driving it. Holding my shorts till this hour ends.
  • #3,505
  • Mar 28, 2013 11:02am Mar 28, 2013 11:02am
....
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  • #3,506
  • Mar 28, 2013 11:02am Mar 28, 2013 11:02am
Wow, you guys are really getting emotional over every 10 pip move lol
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  • #3,507
  • Mar 28, 2013 11:08am Mar 28, 2013 11:08am
Quoting Geppy
Wow, you guys are really getting emotional over every 10 pip move lol
No, I just want to get in at a better place.
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  • #3,508
  • Mar 28, 2013 11:12am Mar 28, 2013 11:12am
I think this bounce back is a good sign ! am i right or just trying to calm myself ?
  • #3,509
  • Mar 28, 2013 11:12am Mar 28, 2013 11:12am
Quoting BobGnarly
I have been building and building and building my longs, you can see my entry on the chart, Just riding the 2x1 gann line to 163

Wont be on too much, since I wont be by my computer that much during the trading day, why? lol I have a few limit orders around 142.25 and thats about it, I am all ready to for the flight to 163


I accidently positioned the gann entry a little bit too much to the right, the 2x1 line is actually a lot closer to the current price, providing nice support.
I thought you were averaged at 143.85?

EDIT: Also, I know you don't keep hard stops in (just mental if I remember correctly), but where would you cut this position at? Seeing as your target is so high, I'd imagine a wide stop loss level.
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  • #3,510
  • Mar 28, 2013 11:19am Mar 28, 2013 11:19am
Quoting Geppy
I thought you were averaged at 143.85?

EDIT: Also, I know you don't keep hard stops in (just mental if I remember correctly), but where would you cut this position at? Seeing as your target is so high, I'd imagine a wide stop loss level.


I Had very small positions at that level about 5% of my total longs. As for stops around 137.80
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  • #3,511
  • Mar 28, 2013 11:19am Mar 28, 2013 11:19am
Quoting netera
I think this bounce back is a good sign ! am i right or just trying to calm myself ?
Perhaps both.

But Geppy is right guys and that's why I just posted that 1H chart laughing.

I think you all are reading WAY too much into all this very small range chop. Trust me, when the Dragon breaks out, you'll know it...LOL
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  • #3,512
  • Mar 28, 2013 11:23am Mar 28, 2013 11:23am
Quoting BobGnarly
I Had very small positions at that level about 5% of my total longs. As for stops around 137.80
ahh, gotcha. I was gonna say... either a previous typo, or you had to buy a SHIT TON at the very bottom to average down that far.

Or, of course, what you just said
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  • #3,513
  • Mar 28, 2013 11:25am Mar 28, 2013 11:25am
Quoting Geppy
ahh, gotcha. I was gonna say... either a previous typo, or you had to buy a SHIT TON at the very bottom to average down that far.

Or, of course, what you just said

Yea there was a lot of stops hit as well, small 15 pip losses.. I just try to get in for a continued up trend with as little risk as possible... 1:4 RR currently


well mental stops, I know when I didnt get in at the right time.
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  • #3,514
  • Mar 28, 2013 11:31am Mar 28, 2013 11:31am
Quoting BobGnarly
Yea there was a lot of stops hit as well, small 15 pip losses.. I just try to get in for a continued up trend with as little risk as possible... 1:4 RR currently
Nice, mine is only 1:3.57 lol
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  • #3,515
  • Mar 28, 2013 12:35pm Mar 28, 2013 12:35pm
Quoting BobGnarly
I Had very small positions at that level about 5% of my total longs. As for stops around 137.80
Bob wouldn't you consider yourself an investor?

If you plan on holding on to long positions for a year or more that sounds a lot like an investor.

Even the IRS would basically consider you an investor, you probably couldn't even get trader tax status or even want it considering that if you hold an asset for 12 months or more you could be taxed at the lowest possible capital gains rate.

I think your opinions are valuable like everyone else's but you are an investor in my book not a trader.

I know life is an ongoing process of adaptation.

But, for the time being I think you are an investor.
Trade at your own risk.
  • #3,516
  • Mar 28, 2013 12:36pm Mar 28, 2013 12:36pm
Oh what an exciting day!!! But It's been fun watching all the...oh it's going up...no it's going down chatter today....

Just to put a little perspective on it. We've had a WHOPPING 80 pip range and it's sitting at about open now. How can I contain my excitement??

The one thing I will say is, it seems we've had a fair amount of late day moves this month. Perhaps today will give us some? Doubt it but maybe...lol
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  • #3,517
  • Mar 28, 2013 1:02pm Mar 28, 2013 1:02pm
Quoting Fx3423454
Bob wouldn't you consider yourself an investor?

If you plan on holding on to long positions for a year or more that sounds a lot like an investor.

Even the IRS would basically consider you an investor, you probably couldn't even get trader tax status or even want it considering that if you hold an asset for 12 months or more you could be taxed at the lowest possible capital gains rate.

I think your opinions are valuable like everyone else's but you are an investor in my book not a trader.

I know life is an ongoing process of adaptation.

But,...


I will not argue with you, I am more geared towards the investing approach as it suits my style best. Forex is just another tool to add to my portfolio.

I like catching major trends and riding them as long as possible.
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  • #3,518
  • Mar 28, 2013 1:05pm Mar 28, 2013 1:05pm
Quoting albchr
Oh what an exciting day!!! But It's been fun watching all the...oh it's going up...no it's going down chatter today....

Just to put a little perspective on it. We've had a WHOPPING 80 pip range and it's sitting at about open now. How can I contain my excitement??
Just think of the fun you could have on EUR/GBP, it had an entire 23 pip range on the 10th December, 31 pips on the 6th March and a massive 49 pip range yesterday.
  • #3,519
  • Mar 28, 2013 1:16pm Mar 28, 2013 1:16pm
Quoting blobsaudio
Just think of the fun you could have on GBP/EUR, it had an entire 23 pip range on the 10th December, 31 pips on the 6th March and a massive 49 pip range yesterday.
I don't trade that pair at all. Never have. Whenever I watched it, it seemed like 28 days of paint drying for 2 or 3 days of excitement....

When I first started I traded the EJ, EU, EJ, GJ. I've given up the EU and GU so now I just trade EJ and GJ but other than a couple EJ shorts last week, I haven't even traded it for some time.
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  • #3,520
  • Mar 28, 2013 1:24pm Mar 28, 2013 1:24pm
The last hour closed above the 50 ema in my chart ? Does this have a specific meaning ?
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