Geppy's Geppy Thread (GBP/JPY)

Quoting Ck87

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{quote} Agree with this, should be making money every month. Sure there will be draw downs and there can be a month or two here and there where you lose, but overall I'd say probably should be winning something like 10/12 months or more.

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Quoting apfrezza

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But why the return of the RISK OFF today?? What happened? After all the news both from Europe and from the UK have been all positive! I believe that this is only craziness of the FOREX market. I really can't understand why I'm still in...it's no-sense, and I would really like to meet someone who is consistently earning money from it!

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Quoting EatPIPs

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{quote} Its just about controlling your trade dude and not letting it control you. This area is where most traders who don't profit fall down. Remember who's the boss and control it. I personally believe risk is the number 1 factor of traders who aren't profitable.

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Quoting Ck87

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{quote} Without a doubt, managing your money properly is #1. You could be the best trader in the world for all you know but if you're not managing your money properly you're going broke, period.

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Quoting Baltimore

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Did you mean this line? {image}

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Quoting Ck87

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{quote} EA's can not work in all environments. What one could possibly do is make an EA that can detect a sideways market environment, or you manually detect sideways market and profit off of it. But no EA is going to profit on both sideways and trending markets. That's a key factor for an EA. If I could code a program I'm sure I could make some profitable ones, but I have no idea how to do it.

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Quoting str33t

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We have only been pushing down for this one day.. And the new weekly low was only a few pips.. But it's tough because there doesn't really seem like there should have been that huge of a fall there. People are just playin this range.. hah..

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Quoting Geppy

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I just caught up on the last couple pages... it seems a lot of you are freaking out and trying to find reasons for these moves. This is not "risk off" like some of you are saying... if it were, you'd know it. GBP/JPY is simply weak because GBP/USD is weak and USD/JPY is still very much range bound. It's as simple as that. GBP/USD is weak because the GDP figure was hyped up as potentially coming in stronger than expected, so when it came in-line, the pound got sold off. GBP/USD is at support now, so we have to options: She takes a dump and falls...

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Quoting Geppy

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{quote} That's what I'm saying... this was not a huge fall!! GBP/JPY will drop 100-200 pips just cause it woke up on the wrong side of the bed. If you aren't used to trading this pair and that seems like a lot to you, you need to readjust your expectations and position sizes accordingly.

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Quoting str33t

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{quote} I'm talking proportionately to this week's range/price action.. As far as this week goes. It basically just retraced the whole damn thing in 3 hours... So if your talking Daily/weekly/monthly it probably isn't.. but as far as 1h bars go. you almost have to wind your charts back to find those moves..

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