GBP/JPY Equity Building Profitable trading strategies

[rrram2]

I only picked up one at 204.02 and it didnt quite hit 203.50 like I fiigure but close and we are looking pretty good this morning for another small run down after the intewrest rate statement. But after that its going to be mad up goinginto Fridays NFP.

[rrram2]

I would have had orders all the way down to 203.50 if I wasn't worried about the margin.

And for how I normally play it that would have been a beautiful night.
I had none of my 203.69 or 203.59 get filled. It like went up to them and reversed or something. SOmetimes On those los orders overnight to get in long, I set a tp at 50 or 100 especially if I only have one or two of them.

The thing is to trade this way and live and learn and become experienced and be able to build confidence and make wise trading choices for yourself.
Do not doubt yourself. No matter what you think or believe there still
remains within you the small spark of the divine light or the supreme creatror.

If anybody has been listening most of you should have managed your margin smartly and would be up a boatload of pips ATM (at the moment).

Getting some coffee then I'll be back after I see what the day looks like.
It is cold here, Almost freezing overnight.

[rrram2]

Now we are talking! Final;ly cashing in some long for some bigger pips.
I expect to head up up up into the interest rate statement.

Which if and when it is cut 25bps, should send GJ down 50-100 but should quickly bottom out within an hour and then head back up strong into Friday.

Last night was an excellent night for scalping and pipping lots of profits.
I missed quite a few. And should have been buying all the way down into 203.50 like I suggested but didnt do as margin was tighter than I wanted it,
which wouldn't have worried me as much if we didnt have todays interest rate statement for USD and fridays NFP.

But we are sitting pretty good I think. For the reports I would start entering oprders in scaling down on the first one 25-40 pips then every 10 pips after that for the first 100.

I've got one service call today and lots of checks to put in the bank,
so I will be running around most of the day. SO Iam entering my orders before I leave, because it looks like she will run up nicely over the next hour or two going into the report.

[rrram2]

Going up from 205.99. Margin is back below 10% useage. BUt ideally you'd like this to be under 5% for sure or even 3%.

The best margin management is in the 1%-3% range as ridiculous as it seems.
Yopu run this system for a wehile; and you willlearn that THIS is critical and could PREVENT you from being wiped out on a HUGE run down because your broker sold you out. And sad fact is broker will 99% of the time sell you out 100% and cause you to realize ALL your losses. THis is your #1 enemy
and he has to be thought of as such because I dont care what anyone says
NOR will I provde PROOF many brokers much of the time are taking the trade directly opposing YOU! Your broker will hunt your stop losses amd hence will KNOW where they have to run down to (to take this chumps money).
So the ONLY way you can lose here is inexperience, poor margin management
(to include getting too many too high [TMTH]), and actions you take which allows your broker to sell you out. You cannot trust your broker in that
always have a presence of mind that your broker does NOT have YOUR best interest in mind he has HIS OWN best interest in mind.

The only thing that I will provide as proof and ALREADY have provided as proof on other unamed forums. I have posted hundreds and hundreds of real trades. You longer lookers have seen these and know where they are.

I am not going to cross post anything or put any links. MY previous efforts were to help others get some money to get into thier forex accounts.

Forex for me is not just about making money. Frankly it is exciting.
Sometimes more exciting than zooming down the road in a SUPERCAR
capable of poping wheelies. Forex gets the old adrenalin pumping,
and the money is a nice sideline.

Its sort of like craps from some folks I guess, where if you don't know the rules and have some clues and completely understand the game you will always lose. WInning in forex is just a matter of being smarter than the banker or broker, And with a little work, enthusiasm and some dedication this is no large feat.

I will take 99% of all banks and brokers fool enough to run down and buy all my longs going into the illusionary pit. The pit was 203.50 last night.
Anyone here get long from 203.50 to 206.00 ? I sold at least one at 206.00.
Or did you sleep through it? Thing is, I make more money when I am sleeping after I have entered my orders! Then while I sleep I review the charts and if I see something, I wake up and close and reopen limit longs at market and/or at 10 pips up or down from price.

I spoke with Jim yesterday on the phone for a while. He has been following my posts since sclapers and he prefers (he is smart!) to scale down like I do,
but INSTEAD of sclaing down INTO the LOW like I do. He scales in as it is going down with his longs 10 pips above price as it is going down.
That way when it hits bottom. He has like no orders and no drawdown.
Then when it reverses up, and heads back north all his orders get filled on entry then sold at TP target as price continues up. THis is sort of opposite of what I do. I guess yoiu can also buy on the way up as price is increasing and scale them up that way like dreamliner but I have not had sufficient time to test Jim's idea, and dreamliners I have been unable to systemitize his way or get it to work for me.

Tracking is a must. I suggested tracking by last digit. I hope everyone understood this so they can implement it. WIthout tracking you cannot adapt and improve.

If you could make 3000 pips a week sitting here watching the market would you? I dont have time for all that entertainment!

[rrram2]

Most of the mornings news is positive hence we are still heading up into the 215PM report.

[rrram2]

Thats about 40 pips down from current price. Then I am getting longs @
205.49 205.29 204.99 if it gets that low my orders will be filled for the ride back up heading into todays close. If I get back early I may get some more as I like to have a bunch of lots going into triple interest wednesday.

[rrram2]

You should have made boatloads of pips I sold all mine except 7 or 8.
I have been scalping and am sitting with 11 now buying all the way down
for the ride up into tomorrows NFP. I think NFP could very well surprise us tomorrow and be positive, in which case hold on, but if it is negative
sure it will go down 50-100 pips or more, but it will retrace all of that back up.
It's a strong closing for the month.

[rrram2]

The new high at 207.90 signals another step up to 208.65.
Sure would be nice to get there before NFP. It is certainly possible overnight.
For now I'll continue to get long as cheap as I can.
I've got 12 orders @ 4% margin useage.

[pipsquito]

I have been out most of the day...have out of town guests. So I did not get to "play" the market this morning/day.

All of my trades closed but two...didn't go high enough for them (208!) so they are holding on.

I have not entered anything else and did not have the chance to buy down from its high...right now it is sitting at 206.55 and I wonder if I should go another round and set buy limits down from here to about 204 or so. ?? Any thoughts anyone?

I did very well with this last run, but could have done better if I was here to continue entering orders. I placed a large short trade on the pound/dollar (which has nothing to do with this system), but instead of going down like it was supposed to it went up 260 pips!! Thought we were supposed to see $$ strength? What happened? Wish I never placed that trade, I would be sitting pretty right now. Figures that the "reasonable" strategy based on conventional wisdom failed me but the "crazy" system made me lots of money...go figure.

rrram, are we the only two here? How do we get folks to join this thread? Lots more people over at FF...

What do you think the £/$ will do on the news? I really want to straighten out this 260 pip loss...

Todd

[hndymann]

I'm lurking, learned lots from you at FF and found you here in a google search... I enjoy the enthusiasm rrram has, good reading I have been making a few small trades using this system, dont have the time to catch every dip but the profits have been pretty good, even for a very small lot trade. Yes I know you say demo only but I find no fun in demo, id rather risk a small percentage of my account to learn what a system is all about. Good trading to you guys, was a nice month, almost two complete cycles.