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Geppy's Geppy Thread (GBP/JPY)

  • #14,501
  • Sep 15, 2014 5:37pm Sep 15, 2014 5:37pm
Quoting IveGotQuads
No trades today as I didn't get my signal during my trading period. Hope you all making green pips, Monday are usually meh
Just been scalping the little bits of PA here and there. Nothing spectacular, but I did manage to earn enough beer money for a month.

I know some of you guys love the huge moves, but I honestly like days like this. I can usually run 8-10 scalps, taking 4 pips profit, with a record of 80/10/10 (%wins/%break-even/%loss).
  • #14,502
  • Sep 15, 2014 7:14pm Sep 15, 2014 7:14pm
Quoting 4xNewGuy
{quote} Just been scalping the little bits of PA here and there. Nothing spectacular, but I did manage to earn enough beer money for a month. I know some of you guys love the huge moves, but I honestly like days like this. I can usually run 8-10 scalps, taking 4 pips profit, with a record of 80/10/10 (%wins/%break-even/%loss).
whats your spread?
Probably the worlds best currency trader.
  • #14,503
  • Sep 15, 2014 8:19pm Sep 15, 2014 8:19pm
At the moment, I think this is probably just a correction, possibly back to 173 or about 172.8.

However, should it fall over the next 24~36 hours below 172.5, that could suggest that, not only is there no upward extension, but it's in for a more significant drop. The reason I say this is that the daily ichimoku cloud has a big hole in its support at 172.6. Sometimes it's no big deal ; at other times these holes become an issue.
  • #14,504
  • Sep 15, 2014 9:18pm Sep 15, 2014 9:18pm
Quoting Wheathermakr
{quote} whats your spread?
My average spread is 1.7.

Generally I aim for just under 7 pips. 1.7 for the spread, another .7 covers the commission, leaving me somewhere around 4 pips profit per trade.
  • #14,505
  • Sep 15, 2014 10:17pm Sep 15, 2014 10:17pm
Okay i see the financial blogs all talking about this bearish candle but for some reason I am not too excited about it... Ideally the "engulfing shadow" should have the greatest range of the previous 5 candles, here it is not. Although it does have room to the left which is ideal and closed at the bottom of its range, I would have preferred this candle at the 174.80 zone. Right now just going to stick with high probability trades even though I could miss some opportunities.
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  • #14,506
  • Sep 15, 2014 10:43pm Sep 15, 2014 10:43pm
Quoting IveGotQuads
Okay i see the financial blogs all talking about this bearish candle but for some reason I am not too excited about it... Ideally the "engulfing shadow" should have the greatest range of the previous 5 candles, here it is not. Although it does have room to the left which is ideal and closed at the bottom of its range, I would have preferred this candle at the 174.80 zone. Right now just going to stick with high probability trades even though I could miss some opportunities. {image}
I think it would be nice if the Kuroda talk and a bunch of british news wasn't coming out over the next 5 hours. It's still pretty messy. I put in a long about 10 minutes ago, and might hedge it with a small short if it hits somewhere around 173.95 in anticipation of the news. If Kuroda makes it go strong bull or bear, I'll make enough to cover my losing position, and maintain a small profit. After that, who knows? I've seen the news get seriously messed with by big money about a half hour before it comes out before.

My plan, watch the impact Kuroda has, and possibly hedge again when the brit news comes out (if there's no pre-release manipulation). Aside from that wait it out and see if it continues to drop. The past week and a bit just has me wondering "what in the flaming blue hell is going on?"

Edit: Also, financial blogs. I don't pay much attention to them. Only time I've really seen an impact has been when efxnews published an article with comments from a bunch of banks, especially goldman sachs. GS's opinion basically contradicted everyone else's, yet that was the opinion the market followed. I think I understand why Soros is good at speculation. His bank publishes an article with his bias, the market follows it. Must be nice to have that kind of power!
  • #14,507
  • Sep 16, 2014 2:17am Sep 16, 2014 2:17am
Classic Tokyo ranging session coupled with a breakout... all that is a pull back and a continuation and we enter. Although I'm already short Gbp/Nzd ( which looks better on the daily with a double top and engulfing) the market is to be respected and anything can happen at any given time. Gl to all
  • #14,508
  • Sep 16, 2014 2:36am Sep 16, 2014 2:36am
Men this train was fast and furious pound is moving too fast !!!
  • #14,509
  • Sep 16, 2014 3:22am Sep 16, 2014 3:22am
Anyway looks like we may have buying opportunities here...with former resistance turning into support we can only hope this 1 hr candle end above 173.30. I end session in an hr hopefully we get a high probability trade for the day. Cheer up guys missing the bearish run isn't so bad, It could have gone either way from my experience.
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  • #14,510
  • Sep 16, 2014 3:50am Sep 16, 2014 3:50am
Quoting IveGotQuads
Anyway looks like we may have buying opportunities here...with former resistance turning into support we can only hope this 1 hr candle end above 173.30. I end session in an hr hopefully we get a high probability trade for the day. Cheer up guys missing the bearish run isn't so bad, It could have gone either way from my experience. {image}
Looking tenuous, but at least it knows it should have stopped at 173. All pairs have stopped at expected support points .... but. As you said, it must clear res at .35
  • #14,511
  • Sep 16, 2014 8:53am Sep 16, 2014 8:53am
Stuffed our socks on that one.....15M, 333sma, 34,3,3. Say no more mates.....she really goes.....Do you have any .....photograghs?? he, he, he.

So now it's a sell.....10 am New York time. E T A ....She's a real sport!!!
  • #14,512
  • Sep 16, 2014 9:12am Sep 16, 2014 9:12am
Welp, this blew out a couple of stops. Seems after the news was done, it moved right back into the bear trend on the 15m.

I'm, honestly out on this one now. Going back to my longs on the N/J. Albeit sometimes this pair is good for scalping, it's just been costing me too much in losses these past couple of weeks with its pants-on-head retarded moves.
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  • #14,513
  • Sep 16, 2014 10:03am Sep 16, 2014 10:03am
hi all,

Long set up tp 176.00

cheers
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  • #14,514
  • Sep 16, 2014 12:49pm Sep 16, 2014 12:49pm
Nothing like buying and coming back to see 95 pips + profit ..More than 4:1 RR bought at the indecision candle stick 173.17 just before 5am and Tp at 174.11 with SL behind the 200 EMA. All confluences came together I'm mad I didn't risk 2.4%. Hope u all made green pip cheers !!!
  • #14,515
  • Sep 16, 2014 12:52pm Sep 16, 2014 12:52pm
Quoting IveGotQuads
Nothing like buying and coming back to see 95 pips + profit ..More than 4:1 RR bought at the indecision candle stick 173.17 just before 5am and Tp at 174.11 with SL behind the 200 EMA. All confluences came together I'm mad I didn't risk 2.4%. Hope u all made green pip cheers !!!
gbp/jpy is the best pair for plays like that.. buy ..leave computer and u will be surprised how much pips u can gain.. im up aswell.. around +50
Probably the worlds best currency trader.
  • #14,516
  • Sep 16, 2014 1:10pm Sep 16, 2014 1:10pm
Quoting IveGotQuads
Nothing like buying and coming back to see 95 pips + profit ..More than 4:1 RR bought at the indecision candle stick 173.17 just before 5am and Tp at 174.11 with SL behind the 200 EMA. All confluences came together I'm mad I didn't risk 2.4%. Hope u all made green pip cheers !!!
Howdy IveGot, I came to this thread and started reading the post when I notice a very familiar looking chart, how long have you been a member DTFL?
  • #14,517
  • Sep 16, 2014 1:16pm Sep 16, 2014 1:16pm
Quoting irongoose
{quote} Howdy IveGot, I came to this thread and started reading the post when I notice a very familiar looking chart, how long have you been a member DTFL?
Never was a member, just saw what they were doing tweaked it for Gbp/yen and it has worked for me ever since. Its been over a year since I have been very profitable. Although I did ask for some of the indicators and got it from chad...they are awesome traders and I learnt the most important thing from them. Patience and risk to reward...
  • #14,518
  • Sep 16, 2014 1:20pm Sep 16, 2014 1:20pm
Quoting IveGotQuads
{quote} Never was a member, just saw what they were doing tweaked it for Gbp/yen and it has worked for me ever since. Its been over a year since I have been very profitable. Although I did ask for some of the indicators and got it from chad...they are awesome traders and I learnt the most important thing from them. Patience and risk to reward...
I've been a member for about 8 months now, I'm still learning from them or starting to understand things in a different way then before.
  • #14,519
  • Sep 16, 2014 1:23pm Sep 16, 2014 1:23pm
Quoting IveGotQuads
{quote} Never was a member, just saw what they were doing tweaked it for Gbp/yen and it has worked for me ever since. Its been over a year since I have been very profitable. Although I did ask for some of the indicators and got it from chad...they are awesome traders and I learnt the most important thing from them. Patience and risk to reward...
I saw the same setup you took the trade on but I didn't take it, because I don't believe it fit The DTFL roles.
  • #14,520
  • Sep 16, 2014 1:26pm Sep 16, 2014 1:26pm
Quoting irongoose
{quote} I saw the same setup you took the trade on but I didn't take it, because I don't believe it fit The DTFL roles.
For one it never pulled back far enough. It never got closer then 13 pips.
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