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Geppy's Geppy Thread (GBP/JPY)

  • #4,981
  • Apr 11, 2013 4:23am Apr 11, 2013 4:23am
Quoting KillerWhale
If we reach 154 today I call it quits for the week. At this moment I have bullish PA on EVERY TIME FRAME you can possibly think of, from 5 seconds to monthly.
So I will not think off shorts now, unless we will trade for extended time below 153.00
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  • #4,982
  • Apr 11, 2013 4:23am Apr 11, 2013 4:23am
Quoting KillerWhale
So I will not think off shorts now, unless we will trade for extended time below 153.00
But for Friday I will be aware of the possibility of some valuable shorts.
After all we can not just go up forever.
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  • #4,983
  • Apr 11, 2013 4:32am Apr 11, 2013 4:32am
Quoting KillerWhale
But for Friday I will be aware of the possibility of some valuable short.
Im looking for a little retrace here - got a couple of pending buys in place targeting above 154. Not sure when or if that will happen but I will also be calling it a day on my active longs if it occurs by end of play today.

Regardless i'll be closing all my current longs by tomorrow if it continues in this direction - I have positive SLs in place if it goes against me.

Today's R1 has been broken - i've got it at 153.06 but it hasn't broken my channel to go further north yet - which im sure won't be long before it does (if it does) but it loves to keep making new highs!
To live a successful life, we must lose our fear of being wrong
  • #4,984
  • Apr 11, 2013 4:40am Apr 11, 2013 4:40am
Im in for yet another short, i cant get myself to go long at all time highs even tho its always gone on to make new highs. In my brain i dont want to be caught long at the top

Maybe i shouldnt trade till it calms down a bit....
  • #4,985
  • Apr 11, 2013 4:42am Apr 11, 2013 4:42am
Quoting EatPIPs
Im looking for a little retrace here - got a couple of pending buys in place targeting above 154. Not sure when or if that will happen but I will also be calling it a day on my active longs if it occurs by end of play today. Regardless i'll be closing all my current longs by tomorrow if it continues in this direction - I have positive SLs in place if it goes against me. Today's R1 has been broken - i've got it at 153.06 but it hasn't broken my channel to go further north yet - which im sure won't be long before it does (if it does) but it loves...
Actually, I also closed a few longs for just a few pips. Will try to buy back lower.
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  • #4,986
  • Apr 11, 2013 5:07am Apr 11, 2013 5:07am
And it hits new highs again, i knew it lol
  • #4,987
  • Apr 11, 2013 5:13am Apr 11, 2013 5:13am
Quoting tafy68
And it hits new highs again, i knew it lol
Shoot, Lolz but what I had left in longs is now 23 pips +, only not so big as I was before.
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  • #4,988
  • Apr 11, 2013 5:15am Apr 11, 2013 5:15am
Quoting KillerWhale
Shoot, Lolz but what I had left in longs is now 23 pips +, only not so big as I was before.
I should not have closed anything above 153.

Oh well
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  • #4,989
  • Apr 11, 2013 5:15am Apr 11, 2013 5:15am
TP 153 37 small Short
  • #4,990
  • Apr 11, 2013 5:22am Apr 11, 2013 5:22am
bro if you feel the need to be in a trade... which you shouldnt and can be hard to sit on hands.. then do 2 things:

1. watch PA. if it struggles to drop then open a small long with tight stop loss.. or

2. open a long, doesnt matter if at top of resistance as long as your MM is right.. if you take a very small position then you can afford the draw down and still buy lower if you want..

I think best is to sit on hands and be more patient - but thats easier said than done I guess.. I bought at top before this bulge up - SL to BE now and took some profit. liked the look of the PA so had 10 pip SL with it.. reason for it - I took profit on my large buys from 151.5 and therefore used that as partial leverage

but thats me and each to their own.. I made sure my MM was sweet!

Quoting tafy68
Im in for yet another short, i cant get myself to go long at all time highs even tho its always gone on to make new highs. In my brain i dont want to be caught long at the top Maybe i shouldnt trade till it calms down a bit....
"Millionaires don't use astrology, billionaires do"
  • #4,991
  • Apr 11, 2013 5:37am Apr 11, 2013 5:37am
I've added another 2 buy limits... If hit - target 154 small trade.
To live a successful life, we must lose our fear of being wrong
  • #4,992
  • Apr 11, 2013 5:50am Apr 11, 2013 5:50am
Quoting tafy68
Im in for yet another short, i cant get myself to go long at all time highs even tho its always gone on to make new highs. In my brain i dont want to be caught long at the top Maybe i shouldnt trade till it calms down a bit....
Just keep this in your mind, a trend (up of down) is not over until it is over.

I don't see the one bit of evidence that this uptrend is over.

Of course you can make pips with shorts, just realize that it is against the trend so set tight stops because the trend will get you and destroy you if you fight against it.
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  • #4,993
  • Apr 11, 2013 5:55am Apr 11, 2013 5:55am
Quoting KillerWhale
Just keep this in your mind, a trend (up of down) is not over until it is over. I don't see the one bit of evidence that this uptrend is over. Of course you can make pips with shorts, just realize that it is against the trend so set tight stops because the trend will get you and destroy you if you fight against it.
I know man its true, i knew it was against trend and I have been caught before, need to get rid of bad trading habits
  • #4,994
  • Apr 11, 2013 6:02am Apr 11, 2013 6:02am
They have this saying in the USA:

Anyone is innocent until proven guilty.

I think the opposite is often the real truth: in daily life in the USA anyone is guilty until proven innocent.

Same problem we have here for forex trading,

When you follow the trend, you're right, until proven wrong.

When you trade against the trend, you're wrong, until proven right.


Lolz, so figure it out!
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  • #4,995
  • Apr 11, 2013 6:06am Apr 11, 2013 6:06am
hahahaha touche KW bro = I like!!

Quoting KillerWhale
They have this saying in the USA: Anyone is innocent until proven guilty. I think the opposite is often the real truth: in daily life in the USA anyone is guilty until proven innocent. Same problem we have here for forex trading, When you follow the trend, you're right, until proven wrong. When you trade against the trend, you're wrong, until proven right. Lolz, so figure it out! {image}
"Millionaires don't use astrology, billionaires do"
  • #4,996
  • Apr 11, 2013 6:11am Apr 11, 2013 6:11am
Quoting KillerWhale
They have this saying in the USA:

Anyone is innocent until proven guilty. I think the opposite is often the real truth: in daily life in the USA anyone is guilty until proven innocent. Same problem we have here for forex trading, When you follow the trend, you're right, until proven wrong. When you trade against the trend, you're wrong, until proven right. Lolz, so figure it out! {image}
But I made a big mistake...................

I became side tracked and biased because I was reading this shit website Action Forex.
They were telling us we gotta go down, while we made new highs every few hours.

Same was for UCAD they tried to make me biased long, fortunately I didn't believe it and short was the real winner.
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  • #4,997
  • Apr 11, 2013 6:11am Apr 11, 2013 6:11am
Quoting tafy68
I know man its true, i knew it was against trend and I have been caught before, need to get rid of bad trading habits
I agree 100% with KW's and ForexGrowth's advice and the way they put it as per trading with the trend. I think this post below is a great example of how well one can do exercising some patience. As FG says it can be tough to wait on the pull backs but as you see here, well worth it and MUCH safer.

Quoting Choopyaz
No sir...scalped a few my own self...but with the trend, my friend {image}
Ghost Rider - WWTBMD?
  • #4,998
  • Apr 11, 2013 6:14am Apr 11, 2013 6:14am
good day guys! woke up to see my 0.40 position got hit at 153.00, but my pending order @153.30 was 3 pips shy of getting triggered! argh would have been 100 pip extra profit if it was..but anyways I'll just have to live with it..

not doing anything here until 154, which is my ultimate target.
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  • #4,999
  • Apr 11, 2013 6:16am Apr 11, 2013 6:16am
Quoting KillerWhale
When you follow the trend, you're right, until proven wrong. When you trade against the trend, you're wrong, until proven right. Lolz, so figure it out! {image}
This is great KW! Should be posted in the header of every thread...LOL
Ghost Rider - WWTBMD?
  • #5,000
  • Apr 11, 2013 6:29am Apr 11, 2013 6:29am
Quoting albchr
This is great KW! Should be posted in the header of every thread...LOL
Shit don't know what's wrong, if I click on your name I get all kinds of shit I didn't ask for, I just wanted to give you a vouch but I can't reach you at the moment.
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