Gordon Gekko's real-time Forex trading calls | Page 38 | Forex Factory

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Gordon Gekko's real-time Forex trading calls

  • #741
  • Apr 22, 2015 11:52pm Apr 22, 2015 11:52pm
Quoting EarnPipsNow
{quote} The bulls are still fighting but the bears are slowly but surely regaining control of the situation... {image}
She's actually my favorite ballistic pair. The way I trade 'her' is that I bring up range chart 4 ticks, overlay 15 min candles (she moves alot so the overlay is visible) wax on trend lines and aggressively buying or selling with limit orders around trend lines in hope that i wax off a quick 10-15 pip scalp. I NEVER try to predict her bigger movement nor I ever use market orders.
  • #742
  • Apr 23, 2015 12:05am Apr 23, 2015 12:05am
Quoting Waiter
in hope that i wax off a quick 10-15 pip scalp
Wow! How can you possibly scalp GBP/NZD (THE wildest pair of them all) for 10 to 15 pips profit when the average spread is already in the 5 to 10 pips range or more ??
Each losing trade is an opportunity to learn
  • #743
  • Apr 23, 2015 12:16am Apr 23, 2015 12:16am
Quoting EarnPipsNow
{quote} Wow! How can you possibly scalp GBP/NZD (THE wildest pair of them all) for 10 to 15 pips profit when the average spread is already in the 5 to 10 pips range or more ??
LIMIT ORDERS

She can be a real gold mine cause she is so wild and she moves
  • #744
  • Apr 23, 2015 12:27am Apr 23, 2015 12:27am
Quoting Waiter
{quote} LIMIT ORDERS She can be a real gold mine cause she is so wild and she moves
I NEVER chase her.
I ambush her with a Limit order and WAIT for her to come back to papi
She's so good to me
I love her... LOL
  • #745
  • Apr 23, 2015 12:29am Apr 23, 2015 12:29am
Quoting Waiter
{quote} LIMIT ORDERS She can be a real gold mine cause she is so wild and she moves

Sure, but the odds of making money consistently scalping the GBP/NZD (5 to 10 pip spread) are clearly not in your favor.

I mean your timing must be extremely, extremely accurate! Otherwise the relatively big spread alone would kill you in the long run.
Each losing trade is an opportunity to learn
  • #746
  • Apr 23, 2015 12:34am Apr 23, 2015 12:34am
Quoting Waiter
{quote} I NEVER chase her. I ambush her with a Limit order and WAIT for her to come back to papi She's so good to me I love her... LOL
Yes I see what you mean, but just out of curiosity, could you post a few GBP/NZD scalp trades, in real time, with the exact limit entry price and stop?
Each losing trade is an opportunity to learn
  • #747
  • Apr 23, 2015 12:41am Apr 23, 2015 12:41am
Quoting EarnPipsNow
{quote} Sure, but the odds of making money consistently scalping the GBP/NZD (5 to 10 pip spread) are clearly not in your favor. I mean your timing must be extremely, extremely accurate! Otherwise the relatively big spread alone would kill you in the long run.

I Trade on ECN, usually my spread is around 6-ish. I don't feel the spread unless she runs me over and i need go get a F out.
  • #748
  • Apr 23, 2015 12:34pm Apr 23, 2015 12:34pm
Long GBP/JPY at 179.94 (limit order), 37 pip stop.
Each losing trade is an opportunity to learn
  • #749
  • Apr 23, 2015 4:29pm Apr 23, 2015 4:29pm
Quoting EarnPipsNow
Long GBP/JPY at 179.94 (limit order), 37 pip stop.
Trade is of course live (and slightly profitable).
Each losing trade is an opportunity to learn
  • #750
  • Apr 23, 2015 8:46pm Apr 23, 2015 8:46pm
Quoting EarnPipsNow
Long GBP/JPY at 179.94 (limit order), 37 pip stop.
GBP/JPY printing shooting stars and bearish engulfing patterns, not a good sign...
Each losing trade is an opportunity to learn
  • #751
  • Apr 23, 2015 9:01pm Apr 23, 2015 9:01pm
Oh, a nice little hammer just appeared, so there is some hope
Each losing trade is an opportunity to learn
  • #752
  • Apr 23, 2015 9:07pm Apr 23, 2015 9:07pm
Quoting EarnPipsNow
Oh, a nice little hammer just appeared, so there is some hope
Does it suggest that you might be hammered?
  • #753
  • Edited 10:09pm Apr 23, 2015 9:55pm | Edited 10:09pm
Quoting grin
{quote} Does it suggest that you might be hammered?
A trader with a sense of humor, how refreshing.

No my friend, mixing alcohol with trading is an extremely bad idea.

And the side effects are usually very, very costly. Not to mention the hangover the day after.
Each losing trade is an opportunity to learn
  • #754
  • Apr 24, 2015 12:37pm Apr 24, 2015 12:37pm
Quoting EarnPipsNow
Long GBP/JPY at 179.94 (limit order), 37 pip stop.
Closing trade at 180.59, +65 pips.
Each losing trade is an opportunity to learn
  • #755
  • Apr 24, 2015 1:19pm Apr 24, 2015 1:19pm
Quoting EarnPipsNow
Oh, a nice little hammer just appeared, so there is some hope
Yep, that nice little hammer did its job perfectly and stopped the GBP/JPY from falling any further (see chart below).

Also notice the huge bullish engulfing pattern around 3 AM (NY time). Generally speaking, when you see that type of powerful formation get out if you are short, the bulls are clearly in control.

Trading results for this week will follow shortly.
Attached Image (click to enlarge)
Click to Enlarge Name: hammer.jpg Size: 115 KB
Each losing trade is an opportunity to learn
  • #756
  • Apr 24, 2015 1:25pm Apr 24, 2015 1:25pm
Short GBP/NZD at 1.9970, 39 pip stop.
Each losing trade is an opportunity to learn
  • #757
  • Apr 24, 2015 1:47pm Apr 24, 2015 1:47pm
Quoting EarnPipsNow
Short GBP/NZD at 1.9970, 39 pip stop.
Out at break-even.
Each losing trade is an opportunity to learn
  • #758
  • Apr 26, 2015 2:12pm Apr 26, 2015 2:12pm
Trading results for week ending April 24, 2015.

Short GBP/AUD at 1.9161, 51 pip stop. Out at break-even.
Short GBP/USD at 1.4915, 44 pip stop. Target reached, +35 pips.
Long EUR/AUD at 1.3919 (limit order), 46 pip stop. Out at 1.3900, 19 pip loss
long eur/aud at same price (1.3919), same stop (46 pips). 46 pip loss.
Long GBP/AUD at 1.9320, 52 pip stop. Out at 1.9350, +30 pips.

long GBP/AUD at 1.9335, 41 pip stop: -41 pips
closing and reversing (short) GBP/AUD trade at 1.9274: break-even

Short EUR/USD at 1.0723, 35 pip stop. Out at 1.0698: +25 pips
Long GBP/CAD at 1.4821, 45 pip stop: -45 pips
Short GBP/AUD at 1.9369, 42 pip stop. Out at 1.9339: +30 pips.
short GBP/NZD at 1.9813, 49 pip stop. -49 pips
Long GBP/JPY at 179.94 (limit order), 37 pip stop: +65 pips.
Short GBP/NZD at 1.9970, 39 pip stop: Breakeven

Total for this week: -15 pips
Total since beginning: +334 pips.
Each losing trade is an opportunity to learn
  • #759
  • Apr 26, 2015 2:20pm Apr 26, 2015 2:20pm
This week I am adding a filter that will prevent the system from initiating long or short positions with small potential profit.

I have been working on this filter from quite some time now and the results look more than encouraging.
Each losing trade is an opportunity to learn
  • #760
  • Apr 26, 2015 2:44pm Apr 26, 2015 2:44pm
The only economic report due during the Asian session is the CNY Industrial Profits report (9:30 PM NY time).

Chinese reports usually move the New Zealand dollar, sometimes in a significant way due to liquidity issue, so monitor your position(s) carefully if you have any open NZD trade.
Each losing trade is an opportunity to learn
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