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Geppy's Geppy Thread (GBP/JPY)

  • #15,501
  • Nov 6, 2014 5:07am Nov 6, 2014 5:07am
Quoting FX-Ray
{quote} Right now im paying attention to that daily high/low; if I see some confirmation there, like a break and becoming resistance, I probably add. Dont know yet.
It is pretty much the way I feel better about than chasing pips on low time frames. A) I do not have the money to do so B) It stresses me out

Just a question: If you have a job to do and trade something like geppy you cannot always take a look of course. Do you have any good ideas for that? I think putting orders might be possible, but then again this beast can just take the position out easily, so an order that will be filled while you are away is even more in danger of being stopped out than an order you took while watching.
Fix up, trade sharp ...
  • #15,502
  • Nov 6, 2014 5:34am Nov 6, 2014 5:34am
Just a light read, though of sharing here. Its about traits that a trader should have. See if it interests you for a light read.

Add: It is not mine, someone sent me this.
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File Type: pdf traits.pdf   225 KB | 415 downloads
  • #15,503
  • Nov 6, 2014 5:50am Nov 6, 2014 5:50am
Quoting FX-Ray
{quote} Indeed, I shorted it anyway but I decreased position size and SL, progressively. {image}
As did I. http://www.forexfactory.com/showthre...93#post7850293

Coughed up 25 pips on the first attempt here with you and Ally. But ... made up for it and still holding the top entry. Currently +106ish with +50 locked
Quoting FX-Ray
{quote} At that point I want to make clear NOT to follow me blindly, everyone should do his own thoughts and ideas and trade accordingly. I have no monopoly on the truth nor im a godmodetrader, taking losses is part of the business, at least for me. Go to that post: http://www.forexfactory.com/showthre...26#post7840826 Mark all DPs at your charts and then do the work. Build scenarios, make plans and trade them with proper Money - and Riskmanagement, so you can still trade tommorrow. Last but not least, I probably get stopped...
Best post I've seen in these here parts for a long time. ...
Ghost Rider - WWTBMD?
  • #15,504
  • Nov 6, 2014 6:09am Nov 6, 2014 6:09am
Quoting workingforex
Just a light read, though of sharing here. Its about traits that a trader should have. See if it interests you for a light read. Add: It is not mine, someone sent me this. {image}
Thanks, this is a good read!
Fix up, trade sharp ...
  • #15,505
  • Nov 6, 2014 6:11am Nov 6, 2014 6:11am
Quoting albchr
{quote} As did I. http://www.forexfactory.com/showthre...93#post7850293 Coughed up 25 pips on the first attempt here with you and Ally. But ... made up for it and still holding the top entry. Currently +106ish with +50 locked {quote} Best post I've seen in these here parts for a long time. ...
you go chris!!

I might need some vodka instead of coffee to get going today
  • #15,506
  • Nov 6, 2014 6:25am Nov 6, 2014 6:25am
Quoting Hickson
{quote} It is pretty much the way I feel better about than chasing pips on low time frames. A) I do not have the money to do so B) It stresses me out Just a question: If you have a job to do and trade something like geppy you cannot always take a look of course. Do you have any good ideas for that? I think putting orders might be possible, but then again this beast can just take the position out easily, so an order that will be filled while you are away is even more in danger of being stopped out than an order you took while watching.
Do you have a smartphone? I use the metatrader app on mine. I rarely open trades with it though. It's more for me to watch them, and close them off if I feel like things are starting to go the wrong way.

If you wanted to run some pending orders instead, you could try putting some limit orders a great distance away from where the price currently is.

I'm going to experiment with it on the weekend with forex tester, but I figure if you put in a buy and/or sell limit say 120 pips away from the asian open, and keep your TP small, something like 15 pips, you could be able to safely snag a trade with that. It's far enough away that it would generally be the end of the movement, and hit that TP, even if the movement goes a bit further than your open. And if the market doesn't make it that far, your trade doesn't open, so there's no risk there.

Granted, the risk/reward would be low for a trade like that, and you'd have to be mindful of the circumstances leading into it. Like this past week, with the BOJ news. It made some big jumps, and it's something you have to look out for. Because running limit orders in this scenario would just give you some losses.
  • #15,507
  • Nov 6, 2014 6:28am Nov 6, 2014 6:28am
Quoting AllyB
{quote} you go chris!! I might need some vodka instead of coffee to get going today
Ohhhhh .... now I REALLY wish I were in your neck of the woods Ally! ....

I still might swing by to meet you on my way west. The near future is still not clear but ya never know. If I do, I'll bring a little Gray Goose along. Don't think I could afford any of the good stuff right now.
Ghost Rider - WWTBMD?
  • #15,508
  • Nov 6, 2014 6:34am Nov 6, 2014 6:34am
Quoting Hickson
{quote} It is pretty much the way I feel better about than chasing pips on low time frames. A) I do not have the money to do so B) It stresses me out Just a question: If you have a job to do and trade something like geppy you cannot always take a look of course. Do you have any good ideas for that? I think putting orders might be possible, but then again this beast can just take the position out easily, so an order that will be filled while you are away is even more in danger of being stopped out than an order you took while watching.
Working with Limit-Order + ATR; that would be my advice.
  • #15,509
  • Nov 6, 2014 6:34am Nov 6, 2014 6:34am
Quoting albchr
{quote} Ohhhhh .... now I REALLY wish I were in your neck of the woods Ally! .... I still might swing by to meet you on my way west. The near future is still not clear but ya never know. If I do, I'll bring a little Gray Goose along. Don't think I could afford any of the good stuff right now.
your my kinda man ... love this stuff
  • #15,510
  • Nov 6, 2014 6:35am Nov 6, 2014 6:35am
Quoting albchr
{quote} Ohhhhh .... now I REALLY wish I were in your neck of the woods Ally! .... I still might swing by to meet you on my way west. The near future is still not clear but ya never know. If I do, I'll bring a little Gray Goose along. Don't think I could afford any of the good stuff right now.
Even I prefer Bourbon, Gray Goose is tasty.
Attached Image
  • #15,511
  • Nov 6, 2014 6:36am Nov 6, 2014 6:36am
Quoting 4xNewGuy
{quote} Do you have a smartphone? I use the metatrader app on mine. I rarely open trades with it though. It's more for me to watch them, and close them off if I feel like things are starting to go the wrong way. If you wanted to run some pending orders instead, you could try putting some limit orders a great distance away from where the price currently is. I'm going to experiment with it on the weekend with forex tester, but I figure if you put in a buy and/or sell limit say 120 pips away from the asian open, and keep your TP small, something like...
Hm, I do not know ... if the order is far away and you only aim for 15 pips it looks a bit like gambling. Because the main problem will be: Where to place a stop? What can be a target? Probably only advisable with at least 50 - 100 pips stop and a bigger target in my view, but if this works for you it is great of course.
Fix up, trade sharp ...
  • #15,512
  • Nov 6, 2014 6:43am Nov 6, 2014 6:43am
Quoting Hickson
{quote} Hm, I do not know ... if the order is far away and you only aim for 15 pips it looks a bit like gambling. Because the main problem will be: Where to place a stop? What can be a target? Probably only advisable with at least 50 - 100 pips stop and a bigger target in my view, but if this works for you it is great of course.
Exactly, what works for you?
  • #15,513
  • Nov 6, 2014 6:45am Nov 6, 2014 6:45am
Quoting AllyB
{quote} your my kinda man ... love this stuff
... hehe
Quoting FX-Ray
{quote} Even I prefer Bourbon, Gray Goose is tasty. {image}
Then ya'll would just LOVE this (and others). If it's sippin Vodka you're after ....
This is actually number 3 on my list but quite unique in flavor.
Attached Image

As the Snow Queen on the bottle beckons you in for a taste, my advice is simple: comply with her wishes and you will be rewarded with a superbly crafted, smooth and uncompromisingly clean vodka. Produced in Kazakhstan from organic wheat, and utilizing artesian spring water draining off the Himalayas, this vodka is distilled five times to remove any minor impurities. The use of Kazakh birch charcoal is unique to Snow Queen and produces a light, mellow and uncommonly refreshing mouthfeel. The craftsmanship is obvious and of the highest grade, as the vodka’s natural smoothness on the palate can attest. This is a superb vodka, which, by the way, just so happens to be organic.
Ghost Rider - WWTBMD?
  • #15,514
  • Nov 6, 2014 6:50am Nov 6, 2014 6:50am
Quoting FX-Ray
{quote} Even I prefer Bourbon, Gray Goose is tasty. {image}
oh my my ... please, I will take a glass
  • #15,515
  • Nov 6, 2014 6:50am Nov 6, 2014 6:50am
Quoting albchr
{quote} ... hehe {quote} Then ya'll would just LOVE this (and others). If it's sippin Vodka you're after .... This is actually number 3 on my list but quite unique in flavor. {image} As the Snow Queen on the bottle beckons you in for a taste, my advice is simple: comply with her wishes and you will be rewarded with a superbly crafted, smooth and uncompromisingly clean vodka. Produced in Kazakhstan from organic wheat, and utilizing artesian spring water draining off the Himalayas, this vodka is distilled five times to remove any...
Hold on..guys..what the...do you see what I see?!
Attached Image
  • #15,516
  • Nov 6, 2014 6:51am Nov 6, 2014 6:51am
Hmmm ... perhaps a new low soon?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM15.png Size: 56 KB
Ghost Rider - WWTBMD?
  • #15,517
  • Nov 6, 2014 6:52am Nov 6, 2014 6:52am
Quoting FX-Ray
{quote} Hold on..guys..what the...do you see what I see?! {image}
WOO HOO!! ... .. PERFECT!
Ghost Rider - WWTBMD?
  • #15,518
  • Nov 6, 2014 6:53am Nov 6, 2014 6:53am
Quoting albchr
Hmmm ... perhaps a new low soon? {image}
Yeah kinda depends on that daily high, now current low..time will tell, as usuall

(http://www.forexfactory.com/showthre...86#post7850686)
  • #15,519
  • Nov 6, 2014 6:53am Nov 6, 2014 6:53am
Quoting albchr
{quote} ... hehe {quote} Then ya'll would just LOVE this (and others). If it's sippin Vodka you're after .... This is actually number 3 on my list but quite unique in flavor. {image} As the Snow Queen on the bottle beckons you in for a taste, my advice is simple: comply with her wishes and you will be rewarded with a superbly crafted, smooth and uncompromisingly clean vodka. Produced in Kazakhstan from organic wheat, and utilizing artesian spring water draining off the Himalayas, this vodka is distilled five times to remove any...
think it's too early to check the liquor stores to see if they carry this ... darn

will have to suffer with my grey goose till they open LOL
  • #15,520
  • Nov 6, 2014 6:53am Nov 6, 2014 6:53am
Quoting FX-Ray
{quote} Exactly, what works for you?
Yes, that is the right question. ATR has worked for me on several opportunities, it needs patience though. I have often seen the ATR stretched out (to get the stops, the market makers know where they are, I still believe this) before a turn. So I could restart to play this with tiny positions and wider stops again in my repertoire.
Fix up, trade sharp ...
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