GBP/JPY Equity Building Profitable trading strategies

[pipsquito]

So, GJ channel, channel, channel...a pretty narrow range too. I've got the traps set all the way to 205.99. I see that rrram has pretty large TPs...31, 51 pips. I think I will set mine accordingly when it starts to head back up. Can't grab too many pips right now...London opens soon. We'll see which way she goes. I'm still short one lot, so hope at some point it goes down. The short is not part of rrram's strategy...it is a leftover from my previous way of doing things.

Right now it has shot up but still not enough to TP one of my positions.

So on this forum there is no way to tell who is online?

Todd

[sbeagle]

Where and how do you determine to start placing your buy orders and where to?

[seamonkey]

Originally Posted by pipsquito

So on this forum there is no way to tell who is online?

The circle next to the user name should be green if they are online.

[Sweet Pip]

Originally Posted by pipsquito

So on this forum there is no way to tell who is online?

Todd

You can also click the above "Quick Links" link and it will display a drop down menu...at the bottom is another link titled "Who's Online".

[rrram2]

I have orders all the way down so far, then I had to stop buying so many.
I scalped a few. Its coming up. MY margin USEAGE hit over 50%,
bad very bad. I am back under 40% UGH! But down unrealized 8800 pips or so. This will be a crazy run back up.

[rrram2]

We can't get back above 204. This is where you need to be careful on the # of orders you place and where you place them. 100 more pips down won't wipe me out, but I wasn't expecting this move down like this until Wednesdat thursday and or friday with all the news.

[rrram2]

I still think we are going to hit 210 before we go back to 198.

You can get in anywhere at market with your FIRST order.
If it is at support or in a certain dip you can then place your entry limit longs scaling down from that first order every 10 pips on the 8' or 9's.

If your first order is higher, like you just logged in and bought one long without looking at anything but price. Then before you get in with anymore longs you need to evaluate the trend LT MT ST. THere are countless indicators for this but study the charts long enough and they will tell you things you never noticed before. IF you get in this way AFTER you evaluated CURRENT market conditions then you determine to scale down
smartly. First one down 50 pips then every 20 or 30 pips. Or more aggrerssively...first one down 20 pips then every 10 pips for at least 10 orders then reevaluate your position.

Key here is not getting in too soon with too many AND not getting in with too many at too high of a price.

Right NOW for example. If I had loaded up long at the bottom 203.50ish.
I would be up 50 pips on every one I got down there.
I scalped a few. I also grabbed 2 @ 204.02 that are about even now.

Originally Posted by sbeagle

Where and how do you determine to start placing your buy orders and where to?

[rrram2]

And entered orders to get long at 203.59 and 203.69
because I am running way high on margin useage.
But I am in a new month so I can deposit money into my account quickly with a credit card.

[rrram2]

It was funny to see a thread here which was listed right next to this one,
that uses the PSAR as thier only indicagtor it looked like.

I admit I do use PSAR on Esignal charts but I have never really been able to get much from it as to if and where price is reversing. This is again more of a trailing indicator I think. WHile the visual is good for seeing ST trends and channels, it really doesn't help me even as much as a nice doji on ym candlestick charts. And often the PSAR at least for me gives no advance warning of a reversal. Maybe I should read that thread

[pipsquito]

Glad to see you on rrram2. I was beginning to wonder if all this was a dream. I am in very high...207.89. And am pretty maxed out. Couldn't survive a dip to 198 but am counting on that not happening. I do think 203.50 is support...although 203.30 seems more like it, but we haven't hit that yet.

I have been grabbing pips as much as I can.

Do you think we will go further or are we headed back up after testing 203.50? I am worried about NFP now being this low.

You say that it is best to keep the buy limit orders spaced a bit of a distance near the top. I went down 10 pips, every 10 pips, from 207.89. I got the impression that was what you did as well. I am wondering if it would have been best when at a high like that to place trades further apart. At least this is what I am getting from your recent posts. Is that true?

I know going all the way back up to 208 is questionable...although you say you think 210 is in the offing. Before 198 at least...hope so!!