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Geppy's Geppy Thread (GBP/JPY)

Quoting xjames26
{quote} Jimi, are you in a short trade or just counting??
long and margin call
Quoting jimi
{quote} long and margin call
Where is your stoploss ?
Quoting szamoca
{quote} Where is your stoploss ?
no more money
the end
Quoting jimi
{quote} no more money the end
I hope you didn't lose much.
Quoting szamoca
{quote} I hope you didn't lose much.
I have

no

more

money
Quoting jimi
{quote} long and margin call
well, too bad. Not a good start of the Year.
Last Year I have learned one simple rule. Don't rely on any recommendation! Trade what you see on your screen. I'm still in the deep black tunnel with my trading, but if I fail to keep this rule in my mind, I won't be able to succeed in the long run.
I don't know if this is just a simple correction in an Uptrend or a start of a falldown of this pair. It is not necessary to know it. No one knows what will happen in the future.
I know its hard and bad Jimi, but try to stay calm.
Quoting xjames26
{quote} well, too bad. Not a good start of the Year. Last Year I have learned one simple rule. Don't rely on any recommendation! Trade what you see on your screen. I'm still in the deep black tunnel with my trading, but if I fail to keep this rule in my mind, I won't be able to succeed in the long run. I don't know if this is just a simple correction in an Uptrend or a start of a falldown of this pair. It is not necessary to know it. No one knows what will happen in the future. I know its hard and bad Jimi, but try to stay calm.
Out of all currency pair, GJ is the most risky pair.
It can give a big fortune, it also can blow you up in a second.
How to handle it, is a big lesson to learn.
I paid the price before, so, wish you are able to learn something from this experience.
Face both Win and Lose bravely
This is monster, daily possibility to double your investment as it move 100-250 points on an average. Picking at right time is mystery.
So, the reverse coming has to be to the upside...meaning for a reverse to occur by the third week of January, there had to be a mid-term downmove. Just do one thing....buy dips. Hard to master that. I'm the worst.
Any thoughts as to if GJ is settling back into the upward channel with 173 being resistance and 167.7 being support? Or is this going to follow 2013 rules and whipsaw to 178 tomorrow? Crap shoot, I know. Just curious as to opinions.
The daily uptrend is still quite intact, so if I had to speculate, I would say we go up. But at the end of the day, nobody knows, Oeden. Just gotta play it as it comes.

Edit: -222 pips as of 1:38 est, wow, the beast went off today.
Quoting Cowboy11
{quote} Out of all currency pair, GJ is the most risky pair. It can give a big fortune, it also can blow you up in a second. How to handle it, is a big lesson to learn. I paid the price before, so, wish you are able to learn something from this experience.
Yes you are definitely right, these are the 7 deadly pairs for new traders ....1. NZD/USD 2. GBP/JPY 3. GBP/CHF 4. CAD/JPY ( this one has killed me couple of times) 5. AUD/JPY 6. EUR/CAD and 7. NZD/JPY
Quote
Out of all currency pair, GJ is the most risky pair.
It can give a big fortune, it also can blow you up in a second.
How to handle it, is a big lesson to learn

I use inside bar breakouts on the 1hr chart with the beast...this method works pretty damn well...but ya gotta be fast.
Quoting Cowboy11
{quote} Out of all currency pair, GJ is the most risky pair. It can give a big fortune, it also can blow you up in a second. How to handle it, is a big lesson to learn. I paid the price before, so, wish you are able to learn something from this experience.
I didn't broke up today. It was only reaction on " Jimi's " post.
GBPJPYM30
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym30.png Size: 48 KB
THERE IS NO SYSTEM
Quoting Gbp/jpy
So, the reverse coming has to be to the upside...meaning for a reverse to occur by the third week of January, there had to be a mid-term downmove. Just do one thing....buy dips. Hard to master that. I'm the worst.
Becareful on "buy dips".
Base on which chart? What are the criteria? How big is the bet? How much is the gap? How much drawn down your account can take, etc.........
How to protect your account if go toward the wrong direction for another 500 pips?????
Face both Win and Lose bravely
Sorry, I mistaken it as crude oil. Strong downward.
As I look at it, GJ will break 180 level, just make sure dont burst your account before that.
Face both Win and Lose bravely
Quoting Cowboy11
{quote} Becareful on "buy dips". Base on which chart? What are the criteria? How big is the bet? How much is the gap? How much drawn down your account can take, etc......... How to protect your account if go toward the wrong direction for another 500 pips?????
Excellent....all of those factors are figured in....I'm already up 1400 pips, January has a reverse to the upside for us!!! etc,..
.
ETA oh, the criteria....historical, mainly.
https://imageshack.us/a/img89/2405/a3ux.jpg

An inside bar breakout is what preceded today's big move...
GBPJPY is the beast of all beasts and has shown an astonishing trend with a little hiccups end of november and a bump around december but for the most part JPY has been getting smashed across the board. However with todays moves the GBP has shown that a retracement may be in effect for almost every GBP cross. With the engulfing bar we have on GY and GA I will split my risk and take short on these. This is all based off daily timeframe here.

I will manage them tightly as I am trading against the trend, and you usually dont have much room because the thing with against the trend trades is it is usually just a pullback or retracement so you cant expect much out of it.
All posts are my personal opinion
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