Geppy's Geppy Thread (GBP/JPY) | Page 205 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

GBP/AUD, GBP/CAD, GBP/CHF and GBP/NZD thread 126 replies

Geppy - Pick the bottom 18 replies

Lets Talk GBP/JPY "the geppy" 156 replies

geppy is "ugly" when ? 14 replies

Geppy outlook 0 replies

Attachments: Geppy's Geppy Thread (GBP/JPY)
Exit Attachments

Geppy's Geppy Thread (GBP/JPY)

  • #4,081
  • Apr 4, 2013 6:50pm Apr 4, 2013 6:50pm
Quoting forex_growth
so question is now - cut it lose or keep letting the beast accumulate
Doc!

Easy, bank some, let some run. I personally bank my weakest longs and let the strongest ones run. leaves more room for pullback and adding.
Ghost Rider - WWTBMD?
  • #4,082
  • Apr 4, 2013 6:55pm Apr 4, 2013 6:55pm
Quoting tafy68
I know its terrible and i need to change my style... I blew my account before like this
Well then you need to learn from that. What would closing all your trades right now do to your account? What % of the balance would you loose?
Ghost Rider - WWTBMD?
  • #4,083
  • Apr 4, 2013 6:58pm Apr 4, 2013 6:58pm
Quoting albchr
Well then you need to learn from that. What would closing all your trades right now do to your account? What % of the balance would you loose?
25% loss if trades closed now. But its too painful!
  • #4,084
  • Apr 4, 2013 6:59pm Apr 4, 2013 6:59pm
good thinking bro!

yeah been an awesome wake up haha - hope still holding bro and loving the dollar rolling in? My mate just said apparently Kuroda is speaking twice today - 9am Singapore time and again 2pm... not too sure what 2pm is about I didnt ask him - he works as a broker here.

Quoting albchr
Doc! Easy, bank some, let some run. I personally bank my weakest longs and let the strongest ones run. leaves more room for pullback and adding.
"Millionaires don't use astrology, billionaires do"
  • #4,085
  • Apr 4, 2013 7:02pm Apr 4, 2013 7:02pm
Quoting forex_growth
yawwnnnnnnnn... morning guys.. well I managed to add a heap load at 146.00 and also back into my eurjpy - my 100 dollar account experiment is now looking at 4951.12 profit... in under 24 hrs dont think Ive ever had such a good yr haha I will have to make sure beers on me somehow sometime somewhere!! so question is now - cut it lose or keep letting the beast accumulate Geps = just seen your pm bro - will grab a coffee n brekkie and put together a reply for you
No rush dude, appreciate it!
check out my blog: forexmademillionaire dot com
  • #4,086
  • Apr 4, 2013 7:02pm Apr 4, 2013 7:02pm
Quoting ssaqeel
cant get better and sincere advise than this....... Chris well said
I hate seeing folks going through the growing pains of learning to trade. I know how much it can hurt. While I've never blown my account I've sure done some serious damage to it. The sad part is there's no reason for it. This business is unique from all other businesses out there in that you don't have to risk a dime to get good at it. Demo until you make profit consistently. PERIOD!

I wish my construction business were so easy (cheap) to start before making a profit...LOL
Ghost Rider - WWTBMD?
  • #4,087
  • Apr 4, 2013 7:05pm Apr 4, 2013 7:05pm
Quoting albchr
I hate seeing folks going through the growing pains of learning to trade. I know how much it can hurt. While I've never blown my account I've sure done some serious damage to it. The sad part is there's no reason for it. This business is unique from all other businesses out there in that you don't have to risk a dime to get good at it. Demo until you make profit consistently. PERIOD! I wish my construction business were so easy (cheap) to start before making a profit...LOL
This is where we'll never see eye to eye. I don't believe demo trading is a good learning ground unless you're simply needing to learn the mechanics of trading (how to place orders, SL, etc.).

When you have absolutely nothing at stake, you trade with a completely different mentality. Demo trading does not simulate the fear, greed, and other emotions that come into play when real money is on the line.

I never demo traded a day in my life and I strongly believe it helped me learn at a faster rate.
check out my blog: forexmademillionaire dot com
  • #4,088
  • Apr 4, 2013 7:06pm Apr 4, 2013 7:06pm
Quoting tafy68
25% loss if trades closed now. But its too painful!
That's nothing. How painful will 50% be? 75% - 100%?? How painful was blowing your last account?? Get out now!

I've blown 50% before but still had an account to trade with. Your choice but it's a no brainer to me.
Ghost Rider - WWTBMD?
  • #4,089
  • Apr 4, 2013 7:08pm Apr 4, 2013 7:08pm
Quoting tafy68
25% loss if trades closed now. But its too painful!
It will get more painful.

Do this:

- close all of your trades right now

- buy at market exactly one-half the size of all of the trades you just closed

- hold

You'll make a good chunk of that money back. Cutting losses can be hard, and flipping bias on a dime can be much MUCH harder. I suggest you do it now and get comfortable doing it again and again and again. The best traders can do this without a thought.
check out my blog: forexmademillionaire dot com
  • #4,090
  • Apr 4, 2013 7:08pm Apr 4, 2013 7:08pm
Quoting albchr
That's nothing. How painful will 50% be? 75% - 100%?? How painful was blowing your last account?? Get out now! I've blown 50% before but still had an account to trade with. Your choice but it's a no brainer to me.
And now we're making new highs...
check out my blog: forexmademillionaire dot com
  • #4,091
  • Apr 4, 2013 7:12pm Apr 4, 2013 7:12pm
money money money bags....bust through usd/jpy march highs...flame this baby
  • #4,092
  • Apr 4, 2013 7:12pm Apr 4, 2013 7:12pm
Quoting Geppy
And now we're making new highs...
Good advice dude, u were on the money
  • #4,093
  • Apr 4, 2013 7:13pm Apr 4, 2013 7:13pm
Quoting KillerWhale
Yes, you are wrong!
maybe i was wrong when i stated market will not give a shi* to your analysis, but that is my believe. i understand, you probably spend lots of time analyzing the market and that is why you shorted this pair. also i hope you did not kept your shorts open thinking market has to follow your analysis.
As Above, So Below
  • #4,094
  • Apr 4, 2013 7:13pm Apr 4, 2013 7:13pm
This is most likely what's causing the spike right now: http://www.forexlive.com/blog/2013/0...ustainability/

Amari, Japan's economy minister is saying they need to show "concrete growth strategy" before the July house elections.

I guess the market is taking this as a positive sign because they've got a road-map and are showing that they are being very proactive.
check out my blog: forexmademillionaire dot com
  • #4,095
  • Apr 4, 2013 7:13pm Apr 4, 2013 7:13pm
Quoting tafy68
Good advice dude, u were on the money
the beast is awakened...
A man is what he thinks about all day long. - Ralph Waldo Emerson
  • #4,096
  • Apr 4, 2013 7:14pm Apr 4, 2013 7:14pm
Quoting tafy68
Good advice dude, u were on the money
Can't take much kudos for it... this is really a no-brainer trade. Like buying stocks during the dot-com boom...
check out my blog: forexmademillionaire dot com
  • #4,097
  • Apr 4, 2013 7:15pm Apr 4, 2013 7:15pm
Quoting Geppy
This is where we'll never see eye to eye. I don't believe demo trading is a good learning ground unless you're simply needing to learn the mechanics of trading (how to place orders, SL, etc.). When you have absolutely nothing at stake, you trade with a completely different mentality. Demo trading does not simulate the fear, greed, and other emotions that come into play when real money is on the line. I never demo traded a day in my life and I strongly believe it helped me learn at a faster rate.
And some folks have that mindset. I did demo trade but it was to learn for my very life as I went disabled and lost my construction business I started at age 16. Trust me when I say I beat the crap out of myself when I lost and jumped with joy when I won. I treated that demo as real as possible because learning to trade meant my families future.

Now is live trading different? You BETCHA!! And I started my account with every dime I had left which was 2500 bucks. My monthly bills were 2800...LOL But at least I had a clue what to expect. Lasted a year paying my bills until I found my back would allow trucking.

And, I think too many really don't understand the mechanics going in. From placing trades to seeing price move. I agree that some like you may not need it but I think 95% of folks should demo for a few months first.
Ghost Rider - WWTBMD?
  • #4,098
  • Apr 4, 2013 7:17pm Apr 4, 2013 7:17pm
Quoting albchr
And some folks have that mindset. I did demo trade but it was to learn for my very life as I went disabled and lost my construction business I started at age 16. Trust me when I say I beat the crap out of myself when I lost and jumped with joy when I won. I treated that demo as real as possible because learning to trade meant my families future. Now is live trading different? You BETCHA!! And I started my account with every dime I had left which was 2500 bucks. My monthly bills were 2800...LOL But at least I had a clue what to expect. Lasted a year...
It sounds like your demo mentality is insanely rare... like almost doesn't exist. But hey, good for you that you were able to!

I always tell people to even give it a hundred or two hundred bucks in there. It's not a ton of money and won't hurt you financially to lose it, but man it'll make those pips matter!
check out my blog: forexmademillionaire dot com
  • #4,099
  • Apr 4, 2013 7:19pm Apr 4, 2013 7:19pm
and crap I've done it again. all this typing and I missed it take off again.

WHEN will I learn to put myself first?? LOL
Ghost Rider - WWTBMD?
  • #4,100
  • Apr 4, 2013 7:20pm Apr 4, 2013 7:20pm
Quoting Geppy
It sounds like your demo mentality is insanely rare... like almost doesn't exist. But hey, good for you that you were able to! I always tell people to even give it a hundred or two hundred bucks in there. It's not a ton of money and won't hurt you financially to lose it, but man it'll make those pips matter!
A life or death, make it or break it situation will do that to ya.
Ghost Rider - WWTBMD?
11 traders viewing now