GBP/JPY Equity Building Profitable trading strategies

[mytwopips]

Originally Posted by 4xStar

women change their minds??

Mine does all the time. Pleasing her day to day is like a fx newbie chasing a choppy market at 100:1 true leverage.

[HAUGHT007]

As a newbie chasing a choppy market with 100:1 leverage.....what is the best leverage for this system?

[mytwopips]

Originally Posted by HAUGHT007

As a newbie chasing a choppy market with 100:1 leverage.....what is the best leverage for this system?

rrram2 and I will most likely have different but similar view points. I will let him answer because this is his strategy. My opinion is if you are sweating the outcome and fearing the wipsaws that you are playing with to much.
Each order I do is 1:1 true. Yet if I have 10 orders on, I am now at 10:1 true.

[rrram2]

All but 9 sold. MY swing trade is gone for a small profit.
I am up 583 pips for the month so far. MArgin is back in the 4 range.
I scalped a few today which hit my buy price then sold at my sell price,
automatically while I was away. I have added more longs .

I expect that old fib at 205.96 to hold for now.
As Always especially overnight tonight I expect a 100 pip run down between 2am-5am EDT. I will buy a few more up around 206 then I am not buying until we get down near 205.19 205.09 204.99. Those orders will be set.

I normally am not sitting here from 2am-5amEDT, normally I am sleeping then
at least usually until 430 unless she wakes me from my sleep for some lame report, that she won't react too.

[rrram2]

The Cable does affect GJ. GBP/USD sure is part of it but it more closely correlates usually with UJ. gj is nothing more than UJ X GU.

It does matter how weak the GBP is. The JPY is normally significantly weaker than GBP so it seems insignificant usually.

So it also stand to reason and if I have not said it yet.
USD is inversely proportionate to GOLD. SO this means if Gold is going UP you can be assured GJ is going down. But I don't watch gold too closely.
Nor do I more than ocasionally study UJ and GU charts as this often messes me up. I never mastered the UJ and it too took me for a ride once on some
shorts 3 years ago for 3G. Nothing like paying interest every day to stay in a trade then getting run down and out. Those were the days when I played
with maximum margin. Nothing crazier than trading with your margin useage pegged at 100%. I have done it and lived, but normally you get sold out.

Originally Posted by cadarkitek

This pair moves with USDJPY, the £ has nothing on it really. Good US news/US going up against JPY, this pair will go up and vice-versa. It doesn't matter how weak the £ is. Look at both charts side by side and you'll see what i'm saying.

[rrram2]

The GBP is worth pretty close to twice as much as the USD. So if I haven't said it before. ONe UJ pip up is usually 2 GJ pips up but again NOT always,
but normally.

And she wants to be like the cable instead of the cheap chick she is at heart.

Originally Posted by mytwopips

Not always.

Most of the time, like you said, she looks just like the U/J chart with just greater range. But sometimes, just like a woman, she will change her mind and act more like the cable.

[rrram2]

Originally Posted by 4xStar

The Vegas Geisha is not democratic

An' down she goes (for now...)

She doesn't LIKE to go down...Did I mention that before?

[rrram2]

The best leverage with ANY system is going to be the HIGHEST leverage you can get. You are ok at 400:1 leverage if you maintain a 1-3% margin useage.
But if you are at 25, 40, 50 60 ,80,90 % or spme crazy margin useage then
400:1 is NOT a good idea as trading useing the majority of your margin will costs you dearly over a lifetime of trading.

I have lost 80% of my account a handful of times in my life, where my broker sold me out, but ultimately it was my own ignorant excessive useage of an amount of margin that was quite clearly WAY too HIGH for my account.

My dad trades 1:1 and has no margin calls, but he can afford it.
I have all my money tied up and working at all times. I don't have any extra sitting around not working for me. One of the fastest ways to wealth is clearly through the use of OPM (other peoples money) [your brokers].

Originally Posted by HAUGHT007

As a newbie chasing a choppy market with 100:1 leverage.....what is the best leverage for this system?

[rrram2]

FOr a minute there I thought we were heading way up in light volume and I could scalp some major pips but she stopped at 206.57.
2am frankfurt comes in 3am london comes in it is the interrtsecting of these two that makes for wild GJ sailing down in that 2-5am EDT range.

I am outta here my orders are in. May all your pips be banked.

[rrram2]

THE GBP news OBVIOUSLY EFFECTS GJ. I am expecting some good news and up up up of course