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Geppy's Geppy Thread (GBP/JPY)

  • #14,521
  • Sep 16, 2014 1:27pm Sep 16, 2014 1:27pm
Quoting irongoose
{quote} 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.
Stick with it ...it takes about 8 months to a year fully grasp the nuances. Also it depends what session you trade ...you either trade 2-5 am NY time or 8 am - 11:30 NY time. Move sl to break-even before entering another market session and just patience for confirmation entry. Let price come to you and don't jump into a moving train. you will be fine. In my case I added price action and I took out the 3 waves as that tends to confuse me and it seems its better suited to Gbp/Usd and Eur/Usd. Hit me up if you want to know more. Good luck
  • #14,522
  • Sep 16, 2014 1:32pm Sep 16, 2014 1:32pm
Quoting IveGotQuads
{quote} Stick with it ...it takes about 8 months to a year fully grasp the nuances. Also it depends what session you trade ...you either trade 2-5 am NY time or 8 am - 11:30 NY time. Move sl to break-even before entering another market session and just patience for confirmation entry. Let price come to you and don't jump into a moving train. you will be fine. In my case I added price action and I took out the 3 waves as that tends to confuse me and it seems its better suited to Gbp/Usd and Eur/Usd. Hit me up if you want to know more. Good luck
Thank you! I know what you are saying about the three pushes, the majors I don't believe have run any of those three pushes since I've been a member of DTFL and most of the time we are just trading both sides of the manipulation points.
  • #14,523
  • Sep 16, 2014 1:34pm Sep 16, 2014 1:34pm
NY is pretty much a dead session.
  • #14,524
  • Sep 16, 2014 1:41pm Sep 16, 2014 1:41pm
Quoting irongoose
{quote} For one it never pulled back far enough. It never got closer then 13 pips.

yeah I know my entry will be considered aggressive but this comes from my experience in general... that indecision candle is a really big deal. Then we add the rate at which the pair dropped coupled with how buyers came into hold price in that zone. Then we add the 200 EMA which I usually don't make trading basis on it but it helps in adding confluences into decisions. If you look at the hrly it is a 3 bar bullish reversal if you look at the 4 hrly it is a bullish pin bar on a support zone. Actually you can see in the 1hrly charts that it pulled back to 173.30 giving you buying opportunities. Also you don't have to use 20 pips SL all the time you can position size it 25 and 30 as long as the Risk reward is there...that's all that matters
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  • #14,525
  • Sep 16, 2014 1:45pm Sep 16, 2014 1:45pm
I just subscribed to your profile, It'll be nice having someone I can talk to in a forum about DTFL because their site doesn't have one. They do have a skype group but I've never joined.
  • #14,526
  • Sep 16, 2014 1:45pm Sep 16, 2014 1:45pm
Quoting irongoose
{quote} Thank you! I know what you are saying about the three pushes, the majors I don't believe have run any of those three pushes since I've been a member of DTFL and most of the time we are just trading both sides of the manipulation points.
Early last year pairs used to have 3 pushes like clockwork... but then volatility dried up for some months...Gbp/yen used to go 70 pips a day which was pathetic. So making 55 pips was actually good. But markets are cyclical and it may start to occur again.
  • #14,527
  • Sep 16, 2014 1:51pm Sep 16, 2014 1:51pm
I saw that setup I was tempted but it just didn't look right to me so a went all conservative. I haven't done to well this year with the aggressive entries so that was another factor in my decision making.
  • #14,528
  • Sep 16, 2014 1:53pm Sep 16, 2014 1:53pm
Quoting IveGotQuads
{quote} Early last year pairs used to have 3 pushes like clockwork... but then volatility dried up for some months...Gbp/yen used to go 70 pips a day which was pathetic. So making 55 pips was actually good. But markets are cyclical and it may start to occur again.
I've lost about 4 or five trades this year trying to let them run more then 30 pips, now if I get up 30 pips and there isn't any instant momentum I'm looking to close.
  • #14,529
  • Sep 16, 2014 1:57pm Sep 16, 2014 1:57pm
Quoting IveGotQuads
{quote} Early last year pairs used to have 3 pushes like clockwork... but then volatility dried up for some months...Gbp/yen used to go 70 pips a day which was pathetic. So making 55 pips was actually good. But markets are cyclical and it may start to occur again.
IMO not when there is a break out...we have been hanging here 164 -175 level since last year. if there is a breakout north baby will fly 185 is another level up there
  • #14,530
  • Sep 16, 2014 2:00pm Sep 16, 2014 2:00pm
I watched this mess all morning just to not take a trade.
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  • #14,531
  • Sep 16, 2014 2:06pm Sep 16, 2014 2:06pm
Quoting irongoose
I watched this mess all morning just to not take a trade. {image}
And don't ask me why I still have a MACD on my chart, I don't use it, I think why the only reason it's still there is because I've ignored so much I don't even realize it's there.
  • #14,532
  • Sep 16, 2014 2:19pm Sep 16, 2014 2:19pm
Quoting irongoose
{quote} I've lost about 4 or five trades this year trying to let them run more then 30 pips, now if I get up 30 pips and there isn't any instant momentum I'm looking to close.
That may not be because your trade was bad, you shouldn't be quick to close a trade when its in a profit. you should be looking to add actually. It may be the timing...Mondays and Fridays are tough times to trade and its ok to be extra conservative on those days. Once you create a plan you should stick to it and the only reason you should change is if you see a manipulation against you. This book might help... thanks to FX-ray who posted it a while back.
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File Type: pdf psycho.pdf   224 KB | 301 downloads
  • #14,533
  • Sep 16, 2014 2:29pm Sep 16, 2014 2:29pm
Quoting IveGotQuads
{quote} That may not be because your trade was bad, you shouldn't be quick to close a trade when its in a profit. you should be looking to add actually. It may be the timing...Mondays and Fridays are tough times to trade and its ok to be extra conservative on those days. Once you create a plan you should stick to it and the only reason you should change is if you see a manipulation against you. This book might help... thanks to FX-ray who posted it a while back.{image}
Thanks I'll download it and have a looky.
  • #14,534
  • Sep 16, 2014 2:37pm Sep 16, 2014 2:37pm
Today we had buying opportunity for Pounds, but I don't intend to keep my position open, tomorrow will be very tense for Pounds, Dollar and Euro.
  • #14,535
  • Sep 16, 2014 3:10pm Sep 16, 2014 3:10pm
Wow, HUGE wick on the 15m. Keeping an eye on this one for sure. Perhaps ready for another bull rush??
  • #14,536
  • Sep 16, 2014 9:17pm Sep 16, 2014 9:17pm
Quoting 4xNewGuy
Wow, HUGE wick on the 15m. Keeping an eye on this one for sure. Perhaps ready for another bull rush??
Probably people taking profit at the end of the NY session.
  • #14,537
  • Sep 16, 2014 10:31pm Sep 16, 2014 10:31pm
Oh Wednesday..what do you have instore for us.. so much news.. and Scottish referendum on friday..
We must see atleast 300-400pips spike to either up or down side.. in by friday/monday

Carefull trading, with alot of gut instinct .. and you can make a killing!!
Probably the worlds best currency trader.
  • #14,538
  • Sep 16, 2014 10:38pm Sep 16, 2014 10:38pm
Quoting Wheathermakr
Oh Wednesday..what do you have instore for us.. so much news.. and Scottish referendum on friday.. We must see atleast 300-400pips spike to either up or down side.. in by friday/monday Carefull trading, with alot of gut instinct .. and you can make a killing!!
Scottish referendum is on thursday
  • #14,539
  • Sep 16, 2014 10:43pm Sep 16, 2014 10:43pm
Quoting MaximeCau
{quote} Scottish referendum is on thursday
Thanks for saving my PORTFOLIO, LOL!
Probably the worlds best currency trader.
  • #14,540
  • Sep 17, 2014 12:00am Sep 17, 2014 12:00am
Quoting MaximeCau
{quote} Scottish referendum is on thursday
They start voting on thursday, but the votes won't be tallied until somewhere around 6am gmt on friday. Still best keep an eye on the markets while the voting is going on. If the yes votes are showing a lead, the market might start acting preemptively on it.
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