GBP/JPY Equity Building Profitable trading strategies

[rrram2]

SUddenly she is looking like she may be running up from 204.72 and not even coming to 204.50 all the while KNowing I am waiting at exactly 203.99.

And maybe that is the bottom, But looks more likely now that we wont get there. One coudl argue the RSI on the 4H is forming a wedge heading downward. But I think as always she is heading up. ANyways I am really offf to bed.

[mytwopips]

But now I can allow more drawdown on my 1 1K lot

All I want for my birthday is my one micro lot, my one micro lot, my one micro lot.

[mytwopips]

Originally Posted by Andrewunknown

1) GBP/JPY does not always go up.

Now you tell me! Great timing!

Actually, I am in this for the carry. My lot size/account size reflects that. I have been preaching this for some time showing how she will do this about every three months.

There are many other short term approaches that work well. This method is a long term approach and a great tool for just that.

Besides my preaching in the past. I was guilty of getting caught up and buying a little too big, oops. But, I'm one of the lucky ones that can solve a mistake like that. I know not everybody can. So lurkers be warned.

[4xStar]

Excellent as usual Andrew ... my favorites are the ones below .. especiallIy #2, really made me laugh.

If you have unlimited funds as some people do, you can buy anything at any price and ride it forever, even if it pays 1% interest, you'll make the interest and if in 50 years you break even with price .. hey you made some interest.

But in the real world, inhabited by many who have very limited funding for a speculative forex account .. my very strong suggestion is .. buy (or short) right in the first place, set stops, scale out of positions taking profit where you can .. in other words: trade!.

Originally Posted by Andrewunknown

2) There is nothing heretical about shorting the Guppy. No betrayal, no sacrilege, no worshiping of false gods, no wandering off the reservation. It is incompatible with this method if you intend to use it exclusively and at all times; whereas it is compatible with more sensible, strategic use. But there is nothing inherent amiss about shorting the Guppy. Believing otherwise can keep you out perfectly good trades and keep you in obviously bad ones.


4) This method is not really about the carry. It never has been, as we've noted before. This method is about buying, buying, buying as the pair drops, and then "scalping" each position for a small quantity of pips as/when the market retraces the drop. The carry is nice, but nominal. No need to pretend the carry is the primary draw here.

5) This method can be modified with stops, whether hard or mental, if the initial entry is done right Does this diminish win %? Sure: but unyielding adherence to trades to maintain a 100% win percentage is little more than pride or about your broker never beating you (aka "pride", "sticking it to the man", or whatever). That's it. Unless you can and intend to ride out a drawdown indefinitely, in which case a stop is counter-productive. But then, so is your entire account. Good luck putting food on the table.

[4xStar]

H A P P Y B I R T H D A Y
E L I J A H!!

What calendar do you follow? Is that the on that divides the year into 13 months the way it should be?

[mytwopips]

Originally Posted by 4xStar

even if it pays 1% interest, you'll make the interest and if in 50 years you break even with price .. ]

Wrong Wrong Wrong ( Sound familiar, All I gave your was +++'s)

Originally Posted by 4xStar

buy (or short) right in the first place

Is that your final last time?


I'M OUTTA HERE.
BACK TO THE REAL WORLD OF THOSE THAT CAN, HAVE, AND DONE; DID IT BY NOT BUYING PREMIUMS AND SELLING DISCOUNTS

[pipsquito]

Originally Posted by 4xStar

Excellent as usual Andrew ... my favorites are the ones below .. especiallIy #2, really made me laugh.

If you have unlimited funds as some people do, you can buy anything at any price and ride it forever, even if it pays 1% interest, you'll make the interest and if in 50 years you break even with price .. hey you made some interest.

But in the real world, inhabited by many who have very limited funding for a speculative forex account .. my very strong suggestion is .. buy (or short) right in the first place, set stops, scale out of positions taking profit where you can .. in other words: trade!.

You guys are so funny...you crack me up!!

Oops...I mean you guys AND gals...

See ya...

[rrram2]

didnt get filled, will wait, good day to all.

[trav72]

Originally Posted by Andrewunknown

And where is ole' Elijah, anyway? scavenger hunt! First to find the post in this thread where Elijah said "I've become G/J" wins.

I was wondering this too.....
I actually thought i spotted Elijiah last night inside a candle on my 30minute candlestick chart... i could see him bouncing up and down stuck inside a bearish engulfing pattern..i was thinking he had really morphed himself into GUPPY
Now that he has returned i see i may have been mistaken....but still unsure...i swear it was him

[pakiestra]

Originally Posted by Andrewunknown

4xStar stated a bit of this as I was typing, but I'll post this in full anyway:

Several things to take stock of:

1) GBP/JPY does not always go up...
2) There is nothing heretical about shorting the Guppy...

4) This method is not really about the carry. It never has been, as we've noted before. This method is about buying, buying, buying as the pair drops, and then "scalping" each position for a small quantity of pips as/when the market retraces the drop. The carry is nice, but nominal. No need to pretend the carry is the primary draw here.

5) ... Good luck putting food on the table.

6) This method can be used in tandem with other methods/systems or as part of an overarching discretionary approach.

Yep,....
I must say it's the best description of the method I've read on this thread. I know, I know I've busted my real account so better should keep shut up. I'm glad Andrew has verbalised an unspoken "heresy" which was kept under the carpet for so long. here
I hope he won't be forced to prove that the Earth is not resting on the back of the 4 big tortoises and the Sun is going round the Earth.