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Geppy's Geppy Thread (GBP/JPY)

  • #13,821
  • Jun 10, 2014 12:25pm Jun 10, 2014 12:25pm
Quoting drzakir123
{quote}very expensive positions as they r against carry
cca 2 pips in swap per week is a lot? I don't think so. Lets say you have position open for 3 weeks. That would be about 6 pips of swap. If price moves 200 pips in your favour, then 6 pips swap + 3 pips spread is pocket change.
  • #13,822
  • Jun 10, 2014 6:24pm Jun 10, 2014 6:24pm
Quoting IndigoPingvi
{quote} cca 2 pips in swap per week is a lot? I don't think so. Lets say you have position open for 3 weeks. That would be about 6 pips of swap. If price moves 200 pips in your favour, then 6 pips swap + 3 pips spread is pocket change.
let say ur short 6 position of 10,000 units each and if ur holding for 3 weeks [504 hours] the total carry u pay is about £26 beside ur spread.and 26 pounds is not a pocket change for me,sir,i will say ur carrying a very expensive and costly position and beside that ur taking short position against the long term trend.sir, if i am u, will wait and take long position from appropiate level.
Allah has permitted trade and has forbidden interest [koran]
  • #13,823
  • Edited 11:11pm Jun 10, 2014 10:59pm | Edited 11:11pm
As shown on a weekly chart, it still sits above the support area (green). Below about 171.05 (50% retracement) it probably fails as a simple correction.

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  • #13,824
  • Jun 10, 2014 11:19pm Jun 10, 2014 11:19pm
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  • #13,825
  • Jun 11, 2014 12:47am Jun 11, 2014 12:47am
Quoting drzakir123
{quote}let say ur short 6 position of 10,000 units each and if ur holding for 3 weeks [504 hours] the total carry u pay is about £26 beside ur spread.and 26 pounds is not a pocket change for me,sir,i will say ur carrying a very expensive and costly position and beside that ur taking short position against the long term trend.sir, if i am u, will wait and take long position from appropiate level.
If average gain would be 100 pips, then cumulative would be 600 pips. Deduct 36 pips (3 weeks x 2 pip value x 6 positions) and spread 18 pips (3 pips x 6 positions) then gain would be 546 pips. How is this bad? Are you a professional trader?
  • #13,826
  • Jun 11, 2014 2:00am Jun 11, 2014 2:00am
Quoting IndigoPingvi
{quote} If average gain would be 100 pips, then cumulative would be 600 pips. Deduct 36 pips (3 weeks x 2 pip value x 6 positions) and spread 18 pips (3 pips x 6 positions) then gain would be 546 pips. How is this bad? Are you a professional trader?

Relax IndigoPingvi, don't waste your energy
Trade what you see, not what you think.
  • #13,827
  • Jun 11, 2014 2:31am Jun 11, 2014 2:31am
Quoting IndigoPingvi
{quote} If average gain would be 100 pips, then cumulative would be 600 pips. Deduct 36 pips (3 weeks x 2 pip value x 6 positions) and spread 18 pips (3 pips x 6 positions) then gain would be 546 pips. How is this bad? Are you a professional trader?
no,i am not but i can say this much with surety that, till now i had blown 3 accounts.good luck and good day to u sir.thank u
Allah has permitted trade and has forbidden interest [koran]
  • #13,828
  • Jun 11, 2014 2:37am Jun 11, 2014 2:37am
Quoting karmostaji
{quote} Relax IndigoPingvi, don't waste your energy
If I quote one professional trader about my trading: "Your trading is a joke." Maybe it really is.
  • #13,829
  • Jun 11, 2014 11:07am Jun 11, 2014 11:07am
Hi Guys...
My Target is 170.20 , So we are all heading south...Maybe I jump of the train before you guys..^_^ and wait for the next round..
Learning and Learing
  • #13,830
  • Jun 11, 2014 11:23am Jun 11, 2014 11:23am
Pladee, I hope we are right .. enter at 171.59, but my target is 169.40 Good luck!
  • #13,831
  • Jun 11, 2014 11:50am Jun 11, 2014 11:50am
Taking a small short position here at 171.35 - let's see if she can get moving in the next day or two.
check out my blog: forexmademillionaire dot com
  • #13,832
  • Jun 11, 2014 12:38pm Jun 11, 2014 12:38pm
Quoting Geppy
Taking a small short position here at 171.35 - let's see if she can get moving in the next day or two.
For the first time I am seeing a post from you, if you are coming after long time, then welcome back! Else it can be me!

Anyways good to see you post on your thread!
  • #13,833
  • Jun 11, 2014 1:33pm Jun 11, 2014 1:33pm
Quoting workingforex
{quote} For the first time I am seeing a post from you, if you are coming after long time, then welcome back! Else it can be me! Anyways good to see you post on your thread!
Thanks man!

I popped in to visit the other week and have posted a few times since, but I am trying to be more active here
check out my blog: forexmademillionaire dot com
  • #13,834
  • Jun 11, 2014 2:37pm Jun 11, 2014 2:37pm
Quoting Geppy
Taking a small short position here at 171.35 - let's see if she can get moving in the next day or two.
what is the logic of shorting this pair?.i dont see fundamental change in anyway,if i see anything the prices going down it is becos of the traders liquidating thier position and the kind of rallies one tend to see on the short side are not very reliable.second is it a risk averse play? what was the risk event? if europe is the answer then if anything it should help the pound as funds should flow in britain therby strengthening it.
please note just to be clear 2 weeks ago i had liquidated about 30 position with average entry price 164.20 and presently flat in geppy. but i have bought lot of nzd[shorting usd,jpy and euro] and i am hoping to keep them atleast for next 6 months to a year
Allah has permitted trade and has forbidden interest [koran]
  • #13,835
  • Jun 11, 2014 3:33pm Jun 11, 2014 3:33pm
Hi Geppy, welcome back! Would be really nice to have the creator of this thread post more often.
Fix up, trade sharp ...
  • #13,836
  • Jun 11, 2014 10:22pm Jun 11, 2014 10:22pm
I am new here, but yes wish to see more from gepy ^_^
Learning and Learing
  • #13,837
  • Jun 11, 2014 10:29pm Jun 11, 2014 10:29pm
Quoting LouiseZA
Pladee, I hope we are right .. enter at 171.59, but my target is 169.40 Good luck!
Hi, me too . hope we are right. I short from 172.50 till 171.90 , total 8 orders. (Just small lot)
i saw that She still waiting and if i am not mistake today when london is open, there should be more movement. And if she wont go through 170.95 i will consider to close the order and wait for change again.


will football world cup will slow down the market in next 1 month??
Learning and Learing
  • #13,838
  • Jun 12, 2014 12:13am Jun 12, 2014 12:13am
Breaking up, but very weak.

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  • #13,839
  • Jun 12, 2014 12:47am Jun 12, 2014 12:47am
Just resting, maybe?
She's going to retrace about noon London time, but by 4pm London time she will be moving south again.(I hope.) Will be watching her then.

The football? don't think so, the big money who move the market will be at their desks.
  • #13,840
  • Edited 1:01am Jun 12, 2014 12:51am | Edited 1:01am
Quoting LouiseZA
Just resting, maybe? She's going to retrace about noon London time, but by 4pm London time she will be moving south again.(I hope.) Will be watching her then. The football? don't think so, the big money who move the market will be at their desks.
It doesn't normally move south after breaking north from a reversal pattern. The only question is strength. But, yes, it could fall back in
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