GBP/JPY Equity Building Profitable trading strategies

[rrram2]

here we go shooting up! The news was nothing really

[4xStar]

Nice move back up, glad I got some now wish I had gotten more

[rrram2]

Nothing worse than this chick leaving you at the bus stop

Originally Posted by trav72

i had a buy limit in at 210.55....damm just missed her....she is going up up up...for now...

[rrram2]

212.15 = fib level
211.60 = fib level
I am expecting to hit the first and maybe test the 212.15 before NY open

[4xStar]

I love the way when she drops like that, how furiously she recovers, almost as if she is ticked off to have been affected by news that way & can't wait to resume her uptrend with a vengence
I'm not sure if it works the other way, I have only noticed this in upward moves.

[rrram2]

My interest is at calculated at .25% equity of 400:1
as the leverage goes down your investment per lot goes up, the less leverage you use the more interest you should get paid, FXSOL doesn't pay less on 400:1, at that rate it pays the same as 200:1 with half the money required to secure a lot. Interest for yesterday was included in the 4 days of interest I guess as there was nothing listed for Wednesday.

Originally Posted by 4xStar

I cannot find in FXSolutions where to see the interest payments, but from my demo acct with ODL it looks like I get about $26 per 100k lot, which would be 26 cents per 1k lot.

But that is for one day only .. 4 days interest should be $1+ per 1k lot.

This is for the guppy, not the NJ.

[rrram2]

I try to stay on topic GBP/JPY, but aside from the obvious things that everyone so called "knows" you bring something that is diffferent from those indicators.

We, rely heavily on charts ( I DO anyways) and I agreee with so much it isnt funny. The past does not allow me to indicate (predict) the future, that is a trick of the ego. History always has a way of repeating itself, BECAUSE
people have that agreement (the club). It is no different as to why certain know things work in the market because everyone uses them and believes them.

And in case no one noticed, I belong to a different exclusive club, where we do not go with the crowd (we go with the crown {keter}) and the mass club and their agreements do not fool us.

If it is related to forex and it will help someone get a better understanding of forex or help them trade in a more elightened way then it is welcome here.

I do not want to become so exclusive and norrow minded, that we are thought of as intolerant or ignorant.

MB has spread of 3,4 and 5 pips normally, FXSOL is fixed at 9. And I am ok with that. They need to make $ too. The broker is not making the whole 9 pips.

If you mean off topic like not related to forex, or something you see as helpful to new traders here would be the place, otherwise there are all sorts of forums on the web.

We don't need to focus on new traders but we certainly should take the time to help them and endeavor to talk in ways they can understand.

And we all sure could have the goal to be more like Andrew, His pateince and dedication to help new traders amazes me sometimes, he is very considerate of others and obviously leads by example in this department.
He shall be rewarded.

Originally Posted by cuero

Hi all,

What's the tightest bid/ask spread you guys see on GBP/JPY. My local bookie in Japan is a fixed 7pip spread, but I looked at a Deutsche Bank demo account (dbfx.com) a couple of weeks ago and it bounced around with the market. Over a couple of hours 3 pips wide was quoted a number of times and that was the tightest I saw, but I also saw 5 pips wide for a while before they reverted back to 7pips.

BTW where is the best place on this site to post off topic items?

Best regards.

[4xStar]

Ok, now I found it, thanks.

My leverage is still 100:1, I don't need more for now and it looks like they give me 15 cents per day but when I am short, it looks like they subtract 35 cents. I will have to spend some time figuring all this out. Also the leverage thing, I had always heard the most dangerous part of forex was the use of high leverage. But if it means you are using less of your own money, then ... why dangerous? I guess like anything else, if it is over-used it could extend you too much??

C'mon guppy, you've had your rest, let's head north again. I have exits just below 212.

[rrram2]

Which is not always exactly in line witht he coming NFP, but it is expected to be significantly down. I think you can expect a 100-150 pip run down in the first hour if it is very bad (which is what I expect), But that was June and june is gone forever, it is now July, the new month is looking up.

I expect that good news for USD is good news for GJ as a general rule.
So if NFP is way down GJ will go down and vice versa.

But I wouldnt let it worry you, I expect NFP to only affect us for 60-90 minutes then GJ will be retracing back up from the move down after the NFP.

I could be wrong and have been wrong before but I am expecting some nice dips after NFP which is where I would buy more long.

The only stupid question is the one not asked.
Or the one asked for which you already KNOW the answer.

Originally Posted by pipsquito

So, here's a stupid question.

If the NFP is better than expected...better for the USD...will the GJ go up? And if it is worse than expected...bad for the USD...will the GJ go down?

I am in a really tight spot here with my loss leader at 213.50 or so, and a string of buys on down to 212.30. If it drops much further my draw down will kill me. So I will have to short to save my shorts, so to speak.

BUT...if the NFP causes a rise, I will be ok of course.

But which way will it go if the news is good or bad?

Thanks!

[rrram2]

even if it is a collective conciousness of all the people that trade her.

She has attributes that she has demonstrated over the past and has exhibited behavior which forms her character. And she likes to go up...it is what she does. She does not liek to go down. News moves her. And she will normally retrace 100% of down moves.

Trading her is more about understanding the human psyche of the folks trading her, and I do and Andrew gave an excellent write up earlier
touching on the psychology without actually saying it.

Originally Posted by 4xStar

I love the way when she drops like that, how furiously she recovers, almost as if she is ticked off to have been affected by news that way & can't wait to resume her uptrend with a vengence
I'm not sure if it works the other way, I have only noticed this in upward moves.