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Geppy's Geppy Thread (GBP/JPY)

  • #4,041
  • Apr 4, 2013 3:57pm Apr 4, 2013 3:57pm
The margin requirements are extremely low for pairs like NOK/JPY and SEK/JPY.

At least with my broker FXCM.

These pairs also move a lot more especially when EUR/USD is in bullish mode which is where we are headed in the coming weeks I believe.

It would have only took $10,000 in margin to have traded a $1,000,000 lot in these pairs.

I was in this JPY trade earlier this week my only regret was that I didn't use more leverage, although I know this is greed talking.
However, leverage is like any other powerful tool it must be used with great skill.

The bottom line is that with these pairs SEK/JPY, NOK/JPY you have the option but you are not obligated to use such serious leverage.

Another important thing to consider is that these aren't even risky "exotic" currencies yet they still make bigger moves than the majors do.

I know this is the GBP/JPY thread but GBP crosses require serious margin, etc.
Trade at your own risk.
  • #4,042
  • Apr 4, 2013 4:04pm Apr 4, 2013 4:04pm
Nice big engulfing candle on the daily, however I can't help but feel it would be mad to enter a new long at this price though.
  • #4,043
  • Apr 4, 2013 4:05pm Apr 4, 2013 4:05pm
Quoting blobsaudio
Nice big engulfing candle on the daily, however I can't help but feel it would be mad to enter a new long at this price though.
It all depends on your time frame. If you are a hyper day trader like most of the people in here then prob. not.

It depends on your style.
Trade at your own risk.
  • #4,044
  • Apr 4, 2013 4:08pm Apr 4, 2013 4:08pm
Quoting blobsaudio
Nice big engulfing candle on the daily, however I can't help but feel it would be mad to enter a new long at this price though.
643 pip candle so far.

Just imagine if Kuroda comes out in 4 hours and says..."oh, I was just thinking out loud and they misinterpreted me in the report"... CRASH!.. LOL
Ghost Rider - WWTBMD?
  • #4,045
  • Apr 4, 2013 4:11pm Apr 4, 2013 4:11pm
Quoting albchr
Ah what a nice much needed nap Still ticking away I see. Do I hear 147? {image}
ummm... wtf dude, where are your longs?!?!?!
check out my blog: forexmademillionaire dot com
  • #4,046
  • Apr 4, 2013 4:13pm Apr 4, 2013 4:13pm
Quoting blobsaudio
Nice big engulfing candle on the daily, however I can't help but feel it would be mad to enter a new long at this price though.
There were quite a few people saying that about 300 pips or so ago...
check out my blog: forexmademillionaire dot com
  • #4,047
  • Apr 4, 2013 4:13pm Apr 4, 2013 4:13pm
I see a nice fat bull candlestick for gj, today daily candle closed almost without an upper wick / shadow, for me showing the bull is still very strong...
making money is easy in forex, losing money is even easier...
  • #4,048
  • Apr 4, 2013 4:13pm Apr 4, 2013 4:13pm
Quoting Fx3423454
It all depends on your time frame. If you are a hyper day trader like most of the people in here then prob. not. It depends on your style.
Both daily and hourly, mainly the hourly though. Think I will wait for a dip before considering a long.

Quoting Geppy
There were quite a few people saying that about 300 pips or so ago...
I was privately thinking something similar when it was around 144.

Quoting albchr
643 pip candle so far. Just imagine if Kuroda comes out in 4 hours and says..."oh, I was just thinking out loud and they misinterpreted me in the report"... CRASH!.. LOL
  • #4,049
  • Apr 4, 2013 4:14pm Apr 4, 2013 4:14pm
Quoting Geppy
ummm... wtf dude, where are your longs?!?!?!
Well, they ain't on those "Index" charts if that's what you mean...LOL
Ghost Rider - WWTBMD?
  • #4,050
  • Apr 4, 2013 4:14pm Apr 4, 2013 4:14pm
Maybe it's going for double top @ 147.98
New voice message: Why are you calling me? If I need you, I'll call you!
  • #4,051
  • Apr 4, 2013 4:18pm Apr 4, 2013 4:18pm
Quoting albchr
Well, they ain't on those "Index" charts if that's what you mean...LOL

HAHAHA, goes to show how closely I look!
check out my blog: forexmademillionaire dot com
  • #4,052
  • Apr 4, 2013 4:18pm Apr 4, 2013 4:18pm
Quoting KillerWhale
Maybe it's going for double top @ 147.98
Planning on shorting there too?
check out my blog: forexmademillionaire dot com
  • #4,053
  • Apr 4, 2013 4:42pm Apr 4, 2013 4:42pm
Quoting Geppy
HAHAHA, goes to show how closely I look!
LOL...is this better bro? Don't get mad at me but... ....I even took a 4th position. 146.14, 22, 48, 78

Hope that last one was wise.
Attached Image (click to enlarge)
Click to Enlarge Name: gj_1h.gif Size: 19 KB
Ghost Rider - WWTBMD?
  • #4,054
  • Apr 4, 2013 4:43pm Apr 4, 2013 4:43pm
Quoting albchr
LOL...is this better bro? Don't get mad at me but... ....I even took a 4th position. 146.14, 22, 48, 78 {image}
That's more like it!
check out my blog: forexmademillionaire dot com
  • #4,055
  • Apr 4, 2013 4:43pm Apr 4, 2013 4:43pm
Here's the deal...Japanese retailers are the heaviest currency traders...the exports are ppfffftt now till next century....so I swear they have an understanding between the national leaders in Japan and the citizens. I think they're tellin' em all to forget about it....go trade currency...a secret signal and secret time....something like that. Candles telegraphed the move last night...big time telegraphed. We usually see the three candles mentioned earlier on the weekly or daily time frame...I didn't look at those yet...the 4H and 1H triad candle was all it took, what with the usd/jpy at 92.90 minus the 15 pip over-run...they told on themselves.

they're going to 200.00 for the usd/jpy....exports are crying.
  • #4,056
  • Apr 4, 2013 4:48pm Apr 4, 2013 4:48pm
Quoting Geppy
That's more like it!
Sorry for the confusion. ... But it was worth seeing you post a mad face!
Ghost Rider - WWTBMD?
  • #4,057
  • Apr 4, 2013 4:52pm Apr 4, 2013 4:52pm
Quoting Gbp/jpy
Here's the deal...Japanese retailers are the heaviest currency traders...the exports are ppfffftt now till next century....so I swear they have an understanding between the national leaders in Japan and the citizens. I think they're tellin' em all to forget about it....go trade currency...a secret signal and secret time....something like that. Candles telegraphed the move last night...big time telegraphed. We usually see the three candles mentioned earlier on the weekly or daily time frame...I didn't look at those yet...the 4H and 1H triad candle...
Ok, I'm sorry but I just have to ask. Exactly how much time did you spend coming up with that?
Ghost Rider - WWTBMD?
  • #4,058
  • Apr 4, 2013 5:05pm Apr 4, 2013 5:05pm
Key daily close on both IMO.
Attached Image (click to enlarge)
Click to Enlarge Name: LFXJPY_GBPLFX_DAILY.PNG Size: 63 KB
Ghost Rider - WWTBMD?
  • #4,059
  • Apr 4, 2013 5:07pm Apr 4, 2013 5:07pm
Quoting Geppy
I'm hoping to hold to see how she reacts at 148... if that breaks, I'm going for 150 next. If you're nervous, follow along on the 5min chart and keep moving your SL up to the last low. For example, on this chart you could have moved your SL from 145.88 to 146.37 or just below that level. Locking in profits never killed anyone {image}
Exactly what I was thinking about the 148/150 levels, just didn't know if we'd be seeing some retrace before then. Plus I don't want to be on the wrong side if for some reason the BOJ Gov Kuroda speech pushes this thing down somewhat... but then again I wanna ride this puppy up more if the speech pushes it toward 148/150...

...this is why I trade technicals/PA and not the news
"If you won't risk the usual, you'll have to settle for the ordinary."
  • #4,060
  • Apr 4, 2013 5:17pm Apr 4, 2013 5:17pm
I could be wrong here but I smell a little retrace coming with the hourly candles here. I banked my 3 weakest longs for 80 and will reload if she drops to test 145.60ish. If not, I'll add as she goes up more.
Attached Image (click to enlarge)
Click to Enlarge Name: gj_1h.gif Size: 18 KB
Ghost Rider - WWTBMD?
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