predefined stop loss and moving to BE after profit and letting profit run. that is all what matters. either you sell or buy at a given point does not matter much. good luck
Ghost Rider - WWTBMD?
Geppy's Geppy Thread (GBP/JPY)
- #4,461
- Apr 7, 2013 9:41pm Apr 7, 2013 9:41pm
- Joined Mar 2009 | Status: Trader | 25,480 Posts
- #4,463
- Apr 7, 2013 9:42pm Apr 7, 2013 9:42pm
- Joined Mar 2009 | Status: Trader | 25,480 Posts
Maybe you would feel better at home in the EU thread. If you are just starting with forex, it's not wise to start with GJ. This is a pair for senior traders.
.... 
GREAT Advice!
Ghost Rider - WWTBMD?
- #4,464
- Apr 7, 2013 9:44pm Apr 7, 2013 9:44pm
- Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts
New voice message: Why are you calling me? If I need you, I'll call you!
- #4,465
- Apr 7, 2013 9:53pm Apr 7, 2013 9:53pm
- Joined Oct 2011 | Status: quo | 4,193 Posts
Thank you sir. I hope it works out. 151.31 soon to be covered. 150.83 soon to be next.
As Above, So Below
- #4,466
- Apr 7, 2013 10:00pm Apr 7, 2013 10:00pm
- Joined Mar 2009 | Status: Trader | 25,480 Posts
you are welcome. but be careful with the word "hope". it is a dangerous word in forex
Anyway, time to get some sleep. SL's and TP's in place. Have a good night everyone.
Ghost Rider - WWTBMD?
- #4,467
- Apr 7, 2013 10:02pm Apr 7, 2013 10:02pm
- Joined Sep 2007 | Status: Trader | 6,871 Posts
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- #4,468
- Apr 7, 2013 10:06pm Apr 7, 2013 10:06pm
- Joined Mar 2009 | Status: Trader | 25,480 Posts
In a trend like this, the risk/reward of selling just isn't there for me. I may trade aggressively, but I don't trade recklessly.
In a trend like what bro? This has been in an up trend since May 2012. You haven't sold since then? LOL
Ghost Rider - WWTBMD?
night bro...
LOL...ok, so I'm a reckless crack head now eh? No problem.
"Millionaires don't use astrology, billionaires do"
- #4,470
- Apr 7, 2013 10:46pm Apr 7, 2013 10:46pm
- Joined Sep 2007 | Status: Trader | 6,871 Posts
LOL...ok, so I'm a reckless crack head now eh? No problem.
In a trend like what bro? This has been in an up trend since May 2012. You haven't sold since then? LOL
#2 The circumstance are extremely different after the BoJ crap last week. I thought you knew that though...
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- #4,471
- Apr 7, 2013 10:50pm Apr 7, 2013 10:50pm
- Joined Sep 2007 | Status: Trader | 6,871 Posts
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hey bro
there is always going to be alternate view points, each justified in their own way... remember, you cannot convince nor please everyone - its impossible. but this doesnt mean you should stop sharing - even if just a few us get what you mean or learn from what you are saying then it'll all be worth it
I wouldnt say Im hugely experienced - so I liked the comment which Killer put there about trading the beast - made me feel good inside
anyhoo, just a little from my perspective to share with others... as I shorted from top and took profit after 30 pips.. which is cool, I had a small TP and even smaller stop loss 3:1 ratio. my point is this:
I made it my goal that this week I will only be trading with the trend, which is UP. yet I still couldn't help but take that small short.. Ive had a good talk to myself and will be more disciplined.. Sometimes what I find, and maybe others do also, is that they or we sometimes feel the need to be in a trade otherwise you feel like you are being left out. My advice, learn to sit on your hands and realise that there are 3 options. three can make you money and two can lose you money. buy, sell or stay out. staying out is a great option as it protects capital. This is huge thing for me, esp when I look at the screen for hours I get itchy feet.. I would say in all my failures this is one of the biggest problems I have had to over come..
anyway thought I would share... this whole week I'll be sitting on my hands and only buying when I feel it right and leaving counter trends alone. good practice for my patience
there is always going to be alternate view points, each justified in their own way... remember, you cannot convince nor please everyone - its impossible. but this doesnt mean you should stop sharing - even if just a few us get what you mean or learn from what you are saying then it'll all be worth it
I wouldnt say Im hugely experienced - so I liked the comment which Killer put there about trading the beast - made me feel good inside
anyhoo, just a little from my perspective to share with others... as I shorted from top and took profit after 30 pips.. which is cool, I had a small TP and even smaller stop loss 3:1 ratio. my point is this:
I made it my goal that this week I will only be trading with the trend, which is UP. yet I still couldn't help but take that small short.. Ive had a good talk to myself and will be more disciplined.. Sometimes what I find, and maybe others do also, is that they or we sometimes feel the need to be in a trade otherwise you feel like you are being left out. My advice, learn to sit on your hands and realise that there are 3 options. three can make you money and two can lose you money. buy, sell or stay out. staying out is a great option as it protects capital. This is huge thing for me, esp when I look at the screen for hours I get itchy feet.. I would say in all my failures this is one of the biggest problems I have had to over come..
anyway thought I would share... this whole week I'll be sitting on my hands and only buying when I feel it right and leaving counter trends alone. good practice for my patience
To clarify, I guess what I'm trying to say to everyone is this: Things have significantly changed with last week's events. There is no reason to expect a deep correction yet. So why would you sell? In hopes of making a few pips while you sleep wit ha "tight SL" in and a small TP? Sounds counter productive to me. The odds of seeing higher prices rather than lower when you wake up are much better. You have huge opportunity costs if you're shorting this and get stopped out. Look at the pullbacks we've seen since last week. They've been extremely...
"Millionaires don't use astrology, billionaires do"
- #4,474
- Apr 7, 2013 11:54pm Apr 7, 2013 11:54pm
- | Commercial User | Joined May 2012 | 3,285 Posts
Still holding most of my Long JPY cross pair positions in all 3 accounts. I added two longs (1 chf/jpy 1 gbp/jpy) earlier today on my main account but am still hoping for a slight retrace so that H1 is showing over sold on the Williams %. I will enter more longs for all pairs at that time on all 3 accounts.
My plan is simple: Looking to ride our current uptrend as long as possible, adding new positions once H1 is showing over sold, and taking profit as price moves in my favor at roughly 280 pips per position.
**Note: I am looking to hold on to current GBP/JPY, EUR/JPY, and CHF/JPY positions without a current TP target but reserve the right to close them at any time should I feel the need to
My plan is simple: Looking to ride our current uptrend as long as possible, adding new positions once H1 is showing over sold, and taking profit as price moves in my favor at roughly 280 pips per position.
**Note: I am looking to hold on to current GBP/JPY, EUR/JPY, and CHF/JPY positions without a current TP target but reserve the right to close them at any time should I feel the need to
Still holding most of my Long JPY cross pair positions in all 3 accounts. I added two longs (1 chf/jpy 1 gbp/jpy) earlier today on my main account but am still hoping for a slight retrace so that H1 is showing over sold on the Williams %. I will enter more longs for all pairs at that time on all 3 accounts. My plan is simple: Looking to ride our current uptrend as long as possible, adding new positions once H1 is showing over sold, and taking profit as price moves in my favor at roughly 280 pips per position. **Note: I am looking to hold on...
"Millionaires don't use astrology, billionaires do"
- #4,478
- Apr 8, 2013 2:36am Apr 8, 2013 2:36am
- Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts
New voice message: Why are you calling me? If I need you, I'll call you!
- #4,479
- Apr 8, 2013 2:37am Apr 8, 2013 2:37am
- Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts
New voice message: Why are you calling me? If I need you, I'll call you!
