GBP/JPY Equity Building Profitable trading strategies

[rrram2]

and is full of mucous or something and a bit sluggish on her normal follow through.

Originally Posted by Andrewunknown

I'm still holding long, having taken ~50-100 pips on a couple of occasions (including the running up a couple hours ago to 212.10) along the way - my basis right now is around 210.60.

Two things in the way of a break here @ 211.62: 50% fib retracement (213.80 to 209.40) and 144 EMA, both plotted at the moment within a pip of one another. The Guppy can't seem to hold a close above either (from 1600 ET's 1H onward). On IKH 3H, price remains below the cloud, while Tenkan has crossed back above Kijun (weakly bullish below the cloud), and Chikou Span is mixed.

[rrram2]

The central bank gold LOL
I hope you are thinking the European central bank
as the so called "central banks" in the united states have NO gold.
the reason those banks are doing so poorly is due to interest rates.
How can you lease gold from the ECB or elsewhere outside the USA
for 1% and then sell it on the futures market in the USA and take that money and buy tbills at 2% you wish, and make 1% and keep running your overextended derivative overrun bank any longer?

We certainly appreciate having you and you are welcome here.
Some of us are here to take the big boys money that 40% of the time.
To all the big boys reading...thanks

Originally Posted by cuero

Hi. I am new here and joined today. I play some FX from time to time. I have traded it professionally earlier in my career and FX arbitrage also.

Let me tell you some things I have learned over the years.

1. The best traders in banks only get it right 60 pct of the time. That means 40 pct of the time they make losses.
2. Analytics are rubbish but not to be ignored. Originally charting was started hundreds of years ago in Japan to try and predict the price of rice and wheat. Its only now we have weather derivatives. Past cannot predict the future! The reason it sometimes works is that it is a cult among professionals. They all learn it, they all believe it, they all follow it,it happens.
Why?
Insurance that's why. If a trader has a bad day and looses a few million and his boss comes over to ask him what happened, he or she can rattle off crossing MA's, fib breakouts, RSI strengths etc, his boss will look at his methodology and will probably say something like "yes, I would probably have done the same" Its a club. Play by the rules and you will probably do fine (60 pct of the time at least)
Play the game, join the cult, don't be as aggressive as the major banks. If something is due to run 100 pips, take 75 or 80. Stay within the expected ranges and take all the little done deals in between. Don't be greedy. If the market looks bullish take the carry trade, buy it 5 minutes before rollover time and dump it as soon as you get into profit, then consider the first hour of market direction.

My next rant..... Where did all the central bank gold go?

[rrram2]

The price of gold directly affects GJ. I may have mentioned it before.
But certainly my feeling without even overlaying charts it that gold and GJ
normally would go opposite of each other. It should be obvious that gold and USD go opposite of each other. Which would then lead one to believe that perhaps USD is worthless. It is for now still good. And this sure isnt the place for the Amero discussion. Once everyone realizes how useless the USD is it will be gone and I bet convert when it is at a very high price after a mad USD run up. So Gold normally would go opposite of GJ I would think.
What is more at issue I think is the ratio of gold to oil now. My dad maintains that there is a gold to oil ratio and has been forever. It seems gold is down in relation to oil and expected to move up, which means to me GJ should go down. But GJ does what she wants and it is harder for me to predict her from news events than merely from watching her moves. She has amzed me these last few days with how closely she is following my trend lines.

I will not sell NJ at a loss, literally every 21 days my margin doubles
by earning 100% interest on the amoutn of $ required to secure my trades.
AND even if I am only at 10% margin useage. My account will make enough interest to equate the whiole account doubling every year WITHOUT compounding interest.

Plus when it comes up and hits those TP targets it will sell and until then I will save money and collect interest. There is very limited downside on NJ and the upside is much wider and more likely to be retraced than lower than say 78.XX. WHich if it went down there I would be loading up with my life savings. I have a high faith in NZ. And I think I am going to join the Alpaca NZ association as they are VERY advanced in the alpaca industy.

Originally Posted by cuero

Hi Andrew.
It's good to know there are people with open minds. The reason I posted here first was that GBP¥ is my favourite FX pair to trade. I will keep the off topic thread to another forum as I don't want to upset the boss on my first day. However the central bank gold posting might have to be tamed down anyway since it heavily implicates a certain US investment bank and several large western central banks.

Off for some liquid refreshments now, the day is over in Japan.

Regards.

[rrram2]

I still havent figured out what makes that NJ move like ti does sometimes.

Originally Posted by Andrewunknown

Still long and getting some play now, with at least tentative resistance back @ the 212 area. Also nice moves up on USD/JPY, EUR/JPY. I'm undecided at the moment, but I'll probably close these out and call it a week with NFP tomorrow morning and the 4th coming on Friday.

[rrram2]

Guppy would have piad 20 cents on a 1k lot but instead of having to put up $1.90 you need like $4.95

Originally Posted by HAUGHT007

RRRAM,
35 cents/1k lot. Was that on the guppy or the NZD/JPY?

[rrram2]

Originally Posted by 4xStar

Matthew 6:3-5
"But when you give to the needy, do not let your left hand know what your right hand is doing, so that your giving may be in secret. Then your Father, who sees what is done in secret, will reward you."

That pretty much says it, it is true giving when you don't expect any recognition in return or will figure later that the person you gave to "owes" you something. Thats why if it is anonymous there can be no recognition to the giver, since that is not the purpose of giving.

[rrram2]

"The big shots are only the little shots who keep shooting."

Christopher Morley

[rrram2]

I think NZ starts trading here soon!

[rrram2]

Double bottom at 210.84 on the 6 min like a pin cushion and its just as valid as any other TF, we will see but we are headed back up into 212 I think.

[rrram2]

You know why I have to do this with NJ? I cannot just bail out. I can easily stay in forever if need be and collect interest. I think what you are missing is that my broker sends me a check a week. Even if it is only $300. I really enjoy collecting interest as I have to do nothing to get it, it just accumulates over time.
It will prove that despite any drawndown if managed by someone who smartly manages their margin, will never yeild a loss, and in the long run they will multiply their initial investment by 100% the first year VERY safely while keeping their margin useage low. It is just tooo slow for me.