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Geppy's Geppy Thread (GBP/JPY)

  • #15,101
  • Nov 3, 2014 4:58am Nov 3, 2014 4:58am
Quoting FX-Ray
{quote} Too much credit delpiero, thank you anyway. My intention is not traders following me rather to show them how to trade themself butits extremely difficult to implement, unfortunately. Add: I guess next resistance should be around DP(2) 183.20/00
Anyway its bank holiday in Japan, be cautious.
  • #15,102
  • Nov 3, 2014 5:00am Nov 3, 2014 5:00am
Without any Technical move,GJ fully drived by Yen easing of Fundamental only ,this wired upward is full of 100% Based on BOJ Announcement ,so Don't Try short @ any yen pairs technical related ,its really attempt of suicide !
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  • #15,103
  • Nov 3, 2014 5:09am Nov 3, 2014 5:09am
@workingforex

Are you still in the long trade from 168.00?
If yes I expect your SL placed at 179,135
  • #15,104
  • Edited 5:20am Nov 3, 2014 5:11am | Edited 5:20am
Quoting FX-Ray
@workingforex Are you still in the long trade from 168.00? If yes I expect your SL placed at 179,135
Anyway when 183.00 gets printed you should adjust* your SL again.
Probably: 183.00 - 0,225 - 0,225 - 0,015 = 182,535 ~ 182,54

Add: Dont know the ATR when its gets printed, thats why 'probably'
Add(2): I expect you to do the work anyway
  • #15,105
  • Nov 3, 2014 5:21am Nov 3, 2014 5:21am
Quoting FX-Ray
@workingforex Are you still in the long trade from 168.00? If yes I expect your SL placed at 179,135
Yes I am still holding on to them and keep on adjusting the stop as you said.

It looks quite good with strong momentum. I could not add any more to the position as was think it might retrace a bit but for sure not complaining.

Keeping an eye on the DPs as posted by you, will draw them on my chart and see how it works! Will keep posting here as well.

Regards!
  • #15,106
  • Nov 3, 2014 5:40am Nov 3, 2014 5:40am
Quoting 4xNewGuy
{quote} I was at work, so I missed that one. Opened a position at 180.600 when I got home. And another at 180.770 when I saw it punch through a level. Just added another position at 181.400 a little over an hour ago. Looks like the train's still going northbound. I think I'm going to sleep well tonight.
That was my thought as well - if short is wrong, I might go long. I will wait for a retest of 180.60 if it comes - if not - well, gotta wait. You are trading much better in here than I do. So I will stay here until results will be better, leading my journal to make notes about any trade.
Fix up, trade sharp ...
  • #15,107
  • Nov 3, 2014 6:29am Nov 3, 2014 6:29am
2.5hr in and price has barely moved since commencement of US session. GBP has lowered, but I don't know if there's more to it. Probably not. The pair is probably just taking a well-deserved nap, like the rest of the market.
  • #15,108
  • Nov 3, 2014 7:21am Nov 3, 2014 7:21am
well guys keep in mind the Japanese are going to come back from holiday to put up a good fight!!...
  • #15,109
  • Nov 3, 2014 7:31am Nov 3, 2014 7:31am
Raising Wedge identified!!... this pair looking possible bearish price movement towards support at 1800xx range.. within the next 5-11 hours entered short at 18182x
  • #15,110
  • Nov 3, 2014 12:54pm Nov 3, 2014 12:54pm
Quoting IveGotQuads
{quote} you going to share it or keep it private.... fx-ray had some sick algo and I tried for months on end for him to share it but I guess its proprietary. LOL but i consider him a mentor and he really helped me get over the hump. A very profitable and i mean profitable trader...wish he would come back and posts. The only downside is that because he is so good it makes ppl lazy to do their own analysis.
looks like this is happening again...i had posted this before you even came back fx-ray and it seems its happening again. Your analysis is so on point, this might make some traders lazy and depend on those descision points !! A true testament to trading prowess. Anyway i have been really busy with moving to a new house and adjusting, plus getting a new broker and transferring funds, not to mention waiting for hi speed internet in my new house to be wired. Happy with the thread and hope others contribute. Goodluck
  • #15,111
  • Nov 3, 2014 2:06pm Nov 3, 2014 2:06pm
Quoting IveGotQuads
{quote} looks like this is happening again...i had posted this before you even came back fx-ray and it seems its happening again. Your analysis is so on point, this might make some traders lazy and depend on those descision points !! A true testament to trading prowess. Anyway i have been really busy with moving to a new house and adjusting, plus getting a new broker and transferring funds, not to mention waiting for hi speed internet in my new house to be wired. Happy with the thread and hope others contribute. Goodluck
Thanks mate, when you say it, IŽll take it!

Its something I cant do much about Quads,
I really hope there are some who dont try depending on it rather try to understand what IŽm doing, so they are able to duplicate the process of my trading ideas to do it for themself. Someday IŽll be gone, thats for sure. What then?

Those who are serious about trading understands that, those who do not, are not serious about trading and wont make it. Natural selection, the essence of the markets. Thats why I dont care. IŽm here for the true ones, the very few.

Anyway missed you around here, would like to see you contributing

Congrats to your new house

Best Regards my friend.
  • #15,112
  • Nov 3, 2014 3:15pm Nov 3, 2014 3:15pm
Quoting FX-Ray
{quote} Thanks mate, when you say it, IŽll take it! Its something I cant do much about Quads, I really hope there are some who dont try depending on it rather try to understand what IŽm doing, so they are able to duplicate the process of my trading ideas to do it for themself. Someday IŽll be gone, thats for sure.....
thanks, yeah I just got my internet installed. Its been crazy using my cell phone as a hot spot temporarily, but I do admit I have been looking at those long term trades. I had thought that to make more money trading intra-day you just increase the risk, it seems an authority thinks otherwise and frankly i'm beginning to believe that. I believe some of us here are at a crossroads to which road to take. Cutting losses short and letting profits run is beginning to mean more than it sounds !!!
  • #15,113
  • Nov 3, 2014 3:32pm Nov 3, 2014 3:32pm
To the ppl that missed this move I definitely think more opportunity will arise getting into the 2 year monthly trend ...It takes a lot of patience to bag this profit making moves. Take a look at the monthly charts and see how long this pair ranges ... good 9 months. On the weekly it was a fake out only to come back to the bottom of the channel and take back off. If we look at this and combine it with ray's DP analysis which will help avoid trying to catch a falling knife. looking out for that temporary pull back and perhaps trading it will be pip worthy, definitely will be looking out for this opportunity and hoping it's at least a 500 pip pull back. In the meantime I think everybody is joining in to this trade already I wonder how much fire it still has.
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  • #15,114
  • Edited 4:21pm Nov 3, 2014 3:53pm | Edited 4:21pm
Quoting IveGotQuads
To the ppl that missed this move I definitely think more opportunity will arise getting into the 2 year monthly trend ...It takes a lot of patience to bag this profit making moves. Take a look at the monthly charts and see how long this pair ranges ... good 9 months. On the weekly it was a fake out only to come back to the bottom of the channel and take back off. If we look at this and combine it with ray's DP analysis which will help avoid trying to catch a falling knife. looking out for that temporary pull back and perhaps trading it will be pip...
Check this mate (pic)!
Thats why its called the 'The Dragon'

Quoting IveGotQuads
{quote} thanks, yeah I just got my internet installed. Its been crazy using my cell phone as a hot spot temporarily, but I do admit I have been looking at those long term trades. I had thought that to make more money trading intra-day you just increase the risk, it seems an authority thinks otherwise and frankly i'm beginning to believe that. I believe some of us here are at a crossroads to which road to take. Cutting losses short and letting profits run is beginning to mean more than it sounds !!!
Scalping is tricky, to compete with HFT-Algos is just almost impossible. They know what you probably gonna do before you even thought about, in nano-seconds.

For example: they head fake the pipe lol
Those who got into Intraday-trading, have most of the times no idea what they are dealing with. Very very few make money scalping. (I dont know anyone, btw)
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  • #15,115
  • Nov 3, 2014 6:13pm Nov 3, 2014 6:13pm
Quoting IveGotQuads
To the ppl that missed this move I definitely think more opportunity will arise getting into the 2 year monthly trend ...It takes a lot of patience to bag this profit making moves. Take a look at the monthly charts and see how long this pair ranges ... good 9 months. On the weekly it was a fake out only to come back to the bottom of the channel and take back off. If we look at this and combine it with ray's DP analysis which will help avoid trying to catch a falling knife. looking out for that temporary pull back and perhaps trading it will be pip...
Nice! Since I moved from 15 minute charts to monthly's my account has gone from a sporadic roller coaster in decay to a steady rollin dough machine! I'm with you on the pullback. There are other pairs in the meantime.
  • #15,116
  • Nov 3, 2014 6:16pm Nov 3, 2014 6:16pm
Quoting Clusiot
{quote} Nice! Since I moved from 15 minute charts to monthly's my account has gone from a sporadic roller coaster in decay to a steady rollin dough machine! I'm with you on the pullback. There are other pairs in the meantime.
btw I hope you guys get to your take profit level. I'm guessin 184. But I already got out Friday afternoon. Weekends make me queezy. I don't want to think about trading then.
  • #15,117
  • Nov 3, 2014 7:37pm Nov 3, 2014 7:37pm
good reading these posts.....guys...cool
  • #15,118
  • Edited 9:20pm Nov 3, 2014 7:38pm | Edited 9:20pm
Quoting Hickson
{quote} That was my thought as well - if short is wrong, I might go long. I will wait for a retest of 180.60 if it comes - if not - well, gotta wait. You are trading much better in here than I do. So I will stay here until results will be better, leading my journal to make notes about any trade.
Hey, I've had my fair share of failures for sure. I wouldn't say I'm trading much better. Perhaps marginally better is the proper term.

When shorting in a case like this, I use a method for it. I did try a short a little while back, but it blew right through it. Fortunately I had a stop in place pretty tightly, so I only lost like 0.4% on it. I basically set up 2 zones. One is zone starts at 25 pips above the high of the asian session and ends at 50 pips above. The other zone does the opposite. It starts 25 pips below the low of the session, and ends at 50 pips below.

When I see the price hit one of those zones, I see it as a sign for a quick reversal that could net me a quick 30 pips. Often times it runs for more than that, but I'm aiming for this kind of trade to be a day trade. I keep the TP pretty tight, since I don't want it to potentially drag on into the next day. If it drags on for too long, it becomes too risky to trade. As far as my SL goes, I place it just outside of the zone. If I enter a short 10 pips away from the end of the zone, I put at stop at 12-15 pips from my trade.

Some guy on another forum posted that little tidbit. He had a relative that did forex trading for a fairly big bank, and shared with him a couple of tips on how banks fake-out traders, and clear out positions.

Sometimes of course, the trade doesn't work out, and you get stopped out since it continues to move in the opposite direction. But it's worked in my favor more often than it has failed. Try it out with a demo account, or even better, try it out with a forex practice program like forex tester 2. FT2 has really helped me out with my trading lately. It only has support for 18 pairings, you have to pay extra for an additional 12 pairings, but the basic 18 include the popular ones like the eur/usd, and our personal favorite, the gbp/jpy, so I have no need to pay the extra fees.
  • #15,119
  • Nov 3, 2014 9:35pm Nov 3, 2014 9:35pm
Quoting 4xNewGuy
{quote} Hey, I've had my fair share of failures for sure. I wouldn't say I'm trading much better. Perhaps marginally better is the proper term. When shorting in a case like this, I use a method for it. I did try a short a little while back, but it blew right through it. Fortunately I had a stop in place pretty tightly, so I only lost like 0.4% on it. I basically set up 2 zones. One is zone starts at 25 pips above the high of the asian session and ends at 50 pips above. The other zone does the opposite. It starts 25 pips below the low of the session,...
hi 4xNewGuy,

thanks for sharing this, one quick question, when you mention the high of asian session, do you mean you set it up at the beginning of london open? and your SL is 12-15pips away from your enter price, so if you buy at 180.12 , your SL is 180 ?

thanks!
  • #15,120
  • Nov 3, 2014 9:44pm Nov 3, 2014 9:44pm
Quoting stanvy
{quote} hi 4xNewGuy, thanks for sharing this, one quick question, when you mention the high of asian session, do you mean you set it up at the beginning of london open? and your SL is 12-15pips away from your enter price, so if you buy at 180.12 , your SL is 180 ? thanks!
Yeah, during the London open is fine. It's ideal if it hits it during the breakout between 2am-3am est., right before the london open, but looking back at the london sessions, it works pretty well if it hits that zone during that time too.

That tends to be the time when it happens. Later on when New York comes into play is a bit too late for it. There's a chance it will still happen, but it's much smaller. So I don't trade that method then.

I set my SL just outside of the zone. So let's say the asian high ends at 175.500. The zone goes from 175.750-176.000. If I enter at 175.900, then I set my stop to something like 176.003-005. I set my stop just outside of the zone. In that case, it's 13-15 pips. If I enter at 175.800, my stop would be 23-25 pips.
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