GBP/JPY Equity Building Profitable trading strategies

[Andrewunknown]

Originally Posted by trav72

she had just broken through the 210.40 critical bearish continuation line...next stop 209.69....need rram to tell me he doubts it will get that low or to buy more longs

You're following Jeb's wave analysis, I take it?

Also, be careful. If you feel you need rrram's reassurance concerning market direction or about holding onto trades that are deep in the red (which, as he has expressed, is a key aspect of this method), then you ought to reevaluate your approach to trading because all of that suggests an unhealthy dependency on someone else to deliver success. I can tell you that if you review this thread from the beginning you will know in very short order exactly how to trade this method (whether it ought to be traded is another discussion) without assistance - everything else is just filler, discussion of market direction and a chronicle of the ups and downs those trading the method have experienced. If nothing else, remember the words of the first post here: "this method is very risky!"

[mytwopips]

Originally Posted by Andrewunknown

I'll hold back on getting into the similarities tonight (this morning) because I'm up way past my bed time, but you can find links to some books suggested by Elijah here:

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Also a handy article on forex mixed in there.

Ahh... I will research more on my own. Thank you.

Where did you find that link??? Was it posted on this thread?

Yaaaaawwwwwwnnnnnn...... It's past my bedtime too.

[4xStar]

Originally Posted by mytwopips

Explain further please (if you don't mind). As a dumb hick from TX, I only see Madge and Britney following some type of Jewish religion as a fad.

Kabbalah is an ancient branch of Judaism that incorporates more mysticism than traditional Judaism today. Although some might say it is closer to the core of the original religion. In Kabbalah, reincarnation is accepted and there are numerous references in the New Testament that showed Jesus also accepted this concept. In the 6th century many of the older, more spiritual beliefs were 'written out' of the bible, including reincarnation, because if people thought they had only one shot at heaven (or hell) and the Church was in charge of that, then .. well .. much easier to control the people & collect a lot of money from them.

For the record, I'm a Christian mystic (Jesus was a jewish mystic) and do believe in reincarnation

To go deeper, you will have to start googling.... or we need to start an off topic thread.

[4xStar]

Originally Posted by Andrewunknown

I guess so, at least for the time being. I never checked in on his thread over there, but it looks like he was temporarily banned for promoting an HYIP under "rrram2" and is now posting once again under rmrf. Don't see him posting any images though, so I'm not sure what is being done there that can't be done here.

Anyway, hope to hear from you again at some point, Elijah!

What's an HYIP? Yes I hope he comes back here as well to post, the charts are not that necessary, I can't see them that well on either forum.
I have the french fry one open as well in a browser tab but it is a bore to switch back & forth. C'mon back home, Elijah.

[4xStar]

Originally Posted by Andrewunknown

You're following Jeb's wave analysis, I take it?

Also, be careful. If you feel you need rrram's reassurance concerning market direction or about holding onto trades that are deep in the red (which, as he has expressed, is a key aspect of this method), then you ought to reevaluate your approach to trading because all of that suggests an unhealthy dependency on someone else to deliver success.

I'm reading Jeb, Elijah and your analysis, trying not to 'depend' on anyone but trying to learn how to see for myself what others seem to see so clearly.
I think both Elijah and Jeb will often be right, given enough time. I am having a problem holding through the swings in either direction. In demo account I just stay long to thoroughly test this rrram theory.
In real account, I too often still get whipsawed.

Andrew .. you transitioned from long to short at the perfect time .. in retrospect I can see why you did it, but at the moment it was not clear to me.
I'm guessing you have already taken profits, but if you are still holding some, what would invalidate your short positions?

And if you have taken profits, would you re-short to go lower .. what would be the signal to do that?

I think my problem is I am getting in at the middle of trades instead of watching for the clear setup that she'll be moving in one direction or another.

She passed Jeb's critical bearish continuation line1 ... I thought that was a clear sign .. but then she came roaring back and I am caught short in the 210.50 region which is probably where YOU took profits

I'd like to copy/paste your IKH commentary to the IKH thread .. is that OK with you?

[Andrewunknown]

Originally Posted by mytwopips

Ahh... I will research more on my own. Thank you.

Where did you find that link??? Was it posted on this thread?

Yaaaaawwwwwwnnnnnn...... It's past my bedtime too.

It hasn't been posted here. I became read some of his old thread at the other forum, became interested in why he was banned and and then the history bug took over and that's one of the pages that turned up while searching around.

[Andrewunknown]

Originally Posted by 4xStar

Kabbalah is an ancient branch of Judaism....

To go deeper, you will have to start googling.... or we need to start an off topic thread.

Thanks for the Kabbalah info - M2P has an insatiable craving for information, and sometimes it takes more than one person to feed him enough. We could have a lively discussion about this; but we'd better stick with the Guppy; at least here!

[4xStar]

Originally Posted by Andrewunknown

Thanks for the Kabbalah info - M2P has an insatiable craving for information, and sometimes it takes more than one person to feed him enough. We could have a lively discussion about this; but we'd better stick with the Guppy; at least here!

Yeah I love discussing this stuff .. there is so much we have not been told about how it all began. If M2P wanted, I could blow his little Texas mind with information .. but it shall be for another time or place

As to our guppy friend ... is she roaring back as rrram would believe ... or just retracing in her spiral down to the levels where Jeb is awaiting her??

Andrew may be the only one with the answer now ...
Are you short, long or flat??

[Andrewunknown]

Originally Posted by 4xStar

I'm reading Jeb, Elijah and your analysis, trying not to 'depend' on anyone but trying to learn how to see for myself what others seem to see so clearly.

I think both Elijah and Jeb will often be right, given enough time. I am having a problem holding through the swings in either direction. In demo account I just stay long to thoroughly test this rrram theory.
In real account, I too often still get whipsawed.

Andrew .. you transitioned from long to short at the perfect time .. in retrospect I can see why you did it, but at the moment it was not clear to me.
I'm guessing you have already taken profits, but if you are still holding some, what would invalidate your short positions?

And if you have taken profits, would you re-short to go lower .. what would be the signal to do that?

I think my problem is I am getting in at the middle of trades instead of watching for the clear setup that she'll be moving in one direction or another.

She passed Jeb's critical bearish continuation line1 ... I thought that was a clear sign .. but then she came roaring back and I am caught short in the 210.50 region which is probably where YOU took profits

I'd like to copy/paste your IKH commentary to the IKH thread .. is that OK with you?

Yes: Elijah and Jeb will usually be right, for very different reasons.

Elijah buys and holds with the intent of scalping - and maybe the occasional swing trade when the pair trends steadily in his direction - but will become a long-term position trader if the market forces him His low consumption of margin allows him to be dead wrong as often - more often, actually - as he is right without suffering realized losses. This is a simple waiting game where being wrong isn't usually punishable (unless you've used too much margin) and being right has its typical reward. Not a failsafe approach to the market, but one that can be successfully traded if you have the patience and mental endurance.

Jeb continuously maps out possible futures (as EW theoreticians do) and closes the door on each of them as they're invalidated. He always expresses his bias (never sure when he's taking trades or not) but usually has a validated wave count.

I've got to run to work, but we can definitely take a look at last night's trading later on. Resistance at the bottom of the kumo (211.02) right now; may be a good time to pick up (or add to) a short. Not a recommendation.

[4xStar]

Originally Posted by Andrewunknown

Yes: Elijah and Jeb will usually be right, for very different reasons.

Elijah buys and holds with the intent of scalping - and maybe the occasional swing trade when the pair trends steadily in his direction - but will become a long-term position trader if the market forces him His low consumption of margin allows him to be dead wrong as often - more often, actually - as he is right without suffering realized losses.

Jeb continuously maps out possible futures (as EW theoreticians do) and closes the door on each of them as they're invalidated. He always expresses his bias (never sure when he's taking trades or not) but usually has a validated wave count.

Great explanation as usual, Andrew .. I think I 'see' for the first time how Elijah is doing this .. I was not putting as much emphasis on the rolling-scalping part of it. I buy & then want to hang on for dear life until the next Big One. In demo account, I constantly bank little profits ... and I'm making a ton in there.

I think I'm going to quit watching Jeb's charts .. as he is continuously re-drawing the target points, every chart changes and I am beginning to think it is a distraction & makes me think a retracement is imminent when there is none. He has been calling for a major retracement for over 2 weeks now.

Last night I got short too late .. instead of waking up, seeing the downturn and saying "ok I missed it .. next" I tried to play catch up as usual and shorted too low. In my demo account I followed the rules, I just bought more at the bottom, in real account, got creamed both ways.

I'm not going to be a buy and hold-forever like Elijah does, at least not yet but ... each time this happens it helps me understand a bit better how this works. Yesterday I did something really neat ... was buying the guppy and shorting the GBP/CHF at the same time ... I ended up collecting on the swissy combo, then guppy retraced back up & I collected there as well. Now THAT is trading .. that is what I need to be doing .. and I am getting closer to figuring it out ..

Thanks Andrew for all your valuable input, I tried giving you a credit but they say I have given you too many and have to pass it around .