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Geppy's Geppy Thread (GBP/JPY)

  • #5,361
  • Apr 12, 2013 9:49am Apr 12, 2013 9:49am
Quoting netera
Good Morning boss , but forgive us , changing trend ( short time ) can make more
I'm right there with ya! Sold some more...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym15.png Size: 100 KB
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  • #5,362
  • Apr 12, 2013 9:54am Apr 12, 2013 9:54am
Quoting Scrat
i am not sure what this means?
I'm not either at this point.

All I know is the last time they messed with the platform (about 3 years ago) and promised a "new download to insure a "stable" platform" things got screwy for enough time to take some losses as it was anything but stable. Order boxes not coming up, when they did you couldn't enter the specs you wanted..etc...etc... It wasn't pretty...LOL

When they mention things as basic as Trailing Stops (which I use a lot at times) not being available? It makes me wonder what else won't be. Since a new download probably won't be available before market open, I'd rather make up any losses I have this week by closing, next week after seeing what's up.
Ghost Rider - WWTBMD?
  • #5,363
  • Apr 12, 2013 9:56am Apr 12, 2013 9:56am
Quoting Geppy
I'm right there with ya! Sold some more... {image}
Me too , and according to my ( Simple - Humble ) Chart , our next target is 151.40
  • #5,364
  • Apr 12, 2013 9:58am Apr 12, 2013 9:58am
Quoting netera
Me too , and according to my ( Simple - Humble ) Chart , our next target is 151.40
I'm aiming for at least 150... but obviously won't happen until next week most likely.
check out my blog: forexmademillionaire dot com
  • #5,365
  • Apr 12, 2013 9:58am Apr 12, 2013 9:58am
Not liking the PA for longs anymore myself. Closed all longs for a loss.
Ghost Rider - WWTBMD?
  • #5,366
  • Apr 12, 2013 10:01am Apr 12, 2013 10:01am
Quoting albchr
Not liking the PA for longs anymore myself. Closed all longs for a loss.
Yep, trend is down for the short-term now.

It'll be back though
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  • #5,367
  • Apr 12, 2013 10:03am Apr 12, 2013 10:03am
Quoting Geppy
Yep, trend is down for the short-term now. It'll be back though
Yep. My criteria was about to be met so reverse

Quoting albchr
Interesting 4H TL here and the same TL on the 15m. 15m (1H) price just closed at 152.58 a touch above the TL and 15m mid channel line. A 4H close (in 50 minutes) above the TL would be nice. EDIT: I should add that it also bounced off the 1H 50ma (blue) as a resistance as well. My short line in the sand still remains a solid (1H or 4H) close below the 76.4% at 152.15. Added 1H chart. {image} {image} {image}
Ghost Rider - WWTBMD?
  • #5,368
  • Apr 12, 2013 10:15am Apr 12, 2013 10:15am
Quoting albchr
Not liking the PA for longs anymore myself. Closed all longs for a loss.
Very sad to hear that!I lost 90 pips with my long,too!
  • #5,369
  • Apr 12, 2013 10:17am Apr 12, 2013 10:17am
Quoting kaka_ht
Very sad to hear that!I lost 90 pips with my long,too!
Business expense. NEXT!
Ghost Rider - WWTBMD?
  • #5,370
  • Apr 12, 2013 10:19am Apr 12, 2013 10:19am
These candles look nice and bullish on the 1M TF

In all seriousness, I understand the short sentiment in here, but it is at an area I could not contemplate going short unless broken.
  • #5,371
  • Apr 12, 2013 10:23am Apr 12, 2013 10:23am
Quoting albchr
Business expense. NEXT!
Read a neat article showing how trading, even as we do it, is a business with expenses: stop-loss, spread, potential slippage. Unlike most business, we can determine our expenses beforehand in regards to spread and SL
When the facts change I change my mind, what do you do sir
  • #5,372
  • Apr 12, 2013 10:36am Apr 12, 2013 10:36am
Quoting Pip Anon
Read a neat article showing how trading, even as we do it, is a business with expenses: stop-loss, spread, potential slippage. Unlike most business, we can determine our expenses beforehand in regards to spread and SL
Yeah but we can't effect the outcome. Don't know if you read my previous post about my old construction business but there, not only could I nail down the exact expense ahead of time, but I had direct control over the outcome. Trading is not like any other "regular" type business I know of so in that regard, I'd have to disagree with the statement of "Unlike most business". But that just my view.

Of course, that's unless you're talking about other speculative businesses. lol
Ghost Rider - WWTBMD?
  • #5,373
  • Apr 12, 2013 10:46am Apr 12, 2013 10:46am
Quoting GDR3k
Cheers, the sell order would only be a scalp, I wouldn't be looking to go short at that area until Monday as I don't like holding positions over a weekend. Stop has been moved to break even on the long from 152.034, currently +38.
Hit at break even and that's me done until Monday.

Up +420 pips for the week on this pair.

Oh yeah, GOOD MORNING GEPPY
  • #5,374
  • Apr 12, 2013 10:47am Apr 12, 2013 10:47am
Quoting albchr
Yeah but we can't effect the outcome. Don't know if you read my previous post about my old construction business but there, not only could I nail down the exact expense ahead of time, but I had direct control over the outcome. Trading is not like any other "regular" type business I know of so in that regard, I'd have to disagree with the statement of "Unlike most business". But that just my view. Of course, that's unless you're talking about other speculative businesses. lol
I can understand that. I have never worked in construction, but in many different business fields you cannot predict the outcome in many circumstances. I mean you can guide your business, but I cannot effect my local, region or macroeconomic health. I can entice customers to spend, but I can't make them.

Business in general are speculative. Roughly 75% of small businesses fail within the first year. I assume you didn't do construction throughout the downturn? I am glad you were successful but if businesses were all that predictable we'd all own one.

And yes, we don't effect an outcome but by limiting expenses and making investment smartly, we can at least limit our losses and give us a chance for favorable outcome.
When the facts change I change my mind, what do you do sir
  • #5,375
  • Apr 12, 2013 11:01am Apr 12, 2013 11:01am
Quoting Pip Anon
I can understand that. I have never worked in construction, but in many different business fields you cannot predict the outcome in many circumstances. I mean you can guide your business, but I cannot effect my local, region or macroeconomic health. I can entice customers to spend, but I can't make them. Business in general are speculative. Roughly 75% of small businesses fail within the first year. I assume you didn't do construction throughout the downturn? I am glad you were successful but if businesses were all that predictable we'd...
I did business throughout several downturns over 35 years. Had it not been for my back collapsing in 2007, I'd still be building custom homes and doing custom woodwork. The cliental I did work for doesn't suffer much during times like this and in fact, take advantage of reduced prices due to increasing competition. The good ones keep going.

To this day I have customers and General contractors I've done work for asking me if I'll ever come back into it. Can't tell you how much I wish I could! Aside from a good living, wood is my passion and I truly miss working with it.

Yes, controlling risk is our greatest asset here.
Ghost Rider - WWTBMD?
  • #5,376
  • Apr 12, 2013 12:04pm Apr 12, 2013 12:04pm
Well guys and gals... it's been another awesome week!

It seems that the last of the insanely easy money was made from this Yen weakness on Sunday. We're now back to market conditions that will see more ups followed by pullbacks and corrections.

That's not to say there won't be easy money to be made... in my opinion, the Yen will continue to weaken and the trend on geppy should be up for a good while yet. While it's clear we're in a short-term downtrend/pullback, I'll be looking for opportunities to ditch my shorts and get long hopefully next week.

The next mid-term target is the 163 level we've been talking about in here for awhile and then the next monthly fib retracement (don't have my charts in front of me so I'm not sure what that level is off hand).

I, for one, am glad we appear to be back in trending mode. Buying dips is the name of the game now and it's a great way to trade.

I hope everyone has a great weekend and we'll have another great trading week next week.
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  • #5,377
  • Apr 12, 2013 12:09pm Apr 12, 2013 12:09pm
Quoting Geppy
Well guys and gals... it's been another awesome week! It seems that the last of the insanely easy money was made from this Yen weakness on Sunday. We're now back to market conditions that will see more ups followed by pullbacks and corrections. That's not to say there won't be easy money to be made... in my opinion, the Yen will continue to weaken and the trend on geppy should be up for a good while yet. While it's clear we're in a short-term downtrend/pullback, I'll be looking for opportunities to ditch my shorts and get long hopefully next week....
Will you hold your shorts geppy through the weeked ?
  • #5,378
  • Apr 12, 2013 12:18pm Apr 12, 2013 12:18pm
Quoting netera
Will you hold your shorts geppy through the weeked ?
yes.
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  • #5,379
  • Apr 12, 2013 1:58pm Apr 12, 2013 1:58pm
Wow, threatening the lows here... can't say I expected this!
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  • #5,380
  • Apr 12, 2013 2:20pm Apr 12, 2013 2:20pm
Quoting fastrader
This might be the start of the reversal.. Looks like stimulus is over
I wish I had shorted when I said this.. Lol


Anyhow, albchr, I guess I didn't make myself clear, i meant the news of stimulus is over and there won't be any more surprises.. That will obviously make the market go through a huge correction which it is doing now and then retrace to new highs this month I hope.. I don't know about u guys but I like trading on the upside trend rather than the downside.. Having said that Ive put in many short positions for now..


Happy trading everybody.. !
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