GBP/JPY Equity Building Profitable trading strategies

[Andrewunknown]

btw, 4xstar - sorry I've neglected the IKH thread. Thanks for starting it, though - I know we had talked about opening a thread here, but I hadn't gotten around to it, though it was rattling around in the back of my mind. I've got some plans that'll take me off-screen for the night coming up, but this weekend would be a perfect time to get a little content up there, and maybe some charts in advance of next week.

Thanks again for starting the thread!

[ajs5274]

Originally Posted by grader

Hi All

Like Todd I have just been reading along, absorbing all the amazing information on this thread. I guess I have not had a lot to contribute !!!. I have a loss leader at 212.69 which looks like it is about to close. I noticed a some point thru the thread that a spreadsheet was mentioned and tried it out. I believe that it is invaluable when trading this system as it is now so easy to work out one's bids. My live acc has more than trebled in value over the last 6 weeks with a boat load of pips banked, I intend to do a count at the end of the month!!!!. I am going to try the NZD/JPY method next week. Thanks to all, grader

Having followed this thread over from the forex factory posts and being demo trading it since around the 203 level at the beginning of May. With 100 % success. Obviously with have had no huge guppy drops since then. I would be very interested in the spreadsheet thats been mentioned.

Could some kind soul attach it to the post or point me in the right direction.

[rrram2]

I figured based on the page views from this thread that there were all sorts of folks reading in the shadows. It is nice to here from you grader.

I am expecting some support at 212.60 and I don't expect to dip below 212 at any rate. I am anticipating some more good GBP and USD news.
Noteworthy is that AGAIN today mortgage rates are UP. While I don't think of this as good for me, it is good for the value and strength of the dollar.
And dollar strength = GJ strength.

I guess I have to get another loss leader on a dip. I was thinking of taking out my last $300 so I am operating ONLY on 100% profits. I got a check today from fxsol for $300. They are fast. I requested the check monday.
Thats good speed to request it on monday and have a check recieved in the mail on Thursday.

Originally Posted by grader

Hi All

Like Todd I have just been reading along, absorbing all the amazing information on this thread. I guess I have not had a lot to contribute !!!. I have a loss leader at 212.69 which looks like it is about to close. I noticed a some point thru the thread that a spreadsheet was mentioned and tried it out. I believe that it is invaluable when trading this system as it is now so easy to work out one's bids. My live acc has more than trebled in value over the last 6 weeks with a boat load of pips banked, I intend to do a count at the end of the month!!!!. I am going to try the NZD/JPY method next week. Thanks to all, grader

[rrram2]

I am not going to point out too many funny things but.
It is from the spring, it went to press before that prolly.
And UBS! HAHAHA! if they say something porbably the opposite is true.
That whole article is so wrong. The carry trade is alive and well.
And I have no doubt that they will continue to carry on up up up.
And I am betting on it with my real money. And I @ over 99% profits still
on all trades. What are they trying to do get us to short GJ LOL!!!!!

I will not short GJ. Sorry I just won't

Originally Posted by ForExed

I have been following this thread since the first post... I trade GBPJPY also, but not like this

I was reading an interesting article which you guys might find amusing... here it is:

https://customers.reuters.com/commun...rry_trade.aspx

enjoy!

[TradeMonkey]

I just woke up and saw this MAJOR dent in my live account. I'm down 230 pips on a short gpjpy. Should I wait for some retracement or just suck it up and take accept the damage? Can any of you veterans give me some light on this?

[4xStar]

Originally Posted by TradeMonkey

I just woke up and saw this MAJOR dent in my live account. I'm down 230 pips on a short gpjpy. Should I wait for some retracement or just suck it up and take accept the damage? Can any of you veterans give me some light on this?

You're SHORT the G-Y?? Read this thread from the beginning & learn why ram is never short and most of the rest of us .. only rarely (and in secret.... shhhhhh)

As to what to do .. no one knows .. you need to draw a line in the sand (or on the chart) and decide when & why to bail for better or worse. Check Andrew's post below for some insight, he mentioned if G-Y closes above 212.77 today it would be very significant. I would not want to be short.

[4xStar]

Originally Posted by rrram2

I am not going to point out too many funny things but.
It is from the spring, it went to press before that prolly.
And UBS! HAHAHA! if they say something porbably the opposite is true.
That whole article is so wrong. The carry trade is alive and well.
And I have no doubt that they will continue to carry on up up up.
And I am betting on it with my real money. And I @ over 99% profits still
on all trades. What are they trying to do get us to short GJ LOL!!!!!

I will not short GJ. Sorry I just won't

Yeah I thought that article sounded very fishy .. and I was thinking the same, it is like listening to CNBC during stock market hours, whatever they are saying .. do the opposite

We'll never ask you to short your guppy, Elijah! blasphemy...

[TradeMonkey]

Thanks for the reply 4xStar. I'll never short this pair again. It was a bad forex start.... I hope I'll be able to recover.

[rrram2]

we are already above 213.00 again. I am not buying one here though I was thinking about it as I would hate to miss the ride up into 216/217.

I have not evaluated how far she will dip overnight.
I have not checked tomorrow mornings 430 EDT AM GJ news.

More later.

[rrram2]

I mean shorting GJ is already a bad thing, but shorting it without a stop loss is insane. There is no news to come out tomrrow to affect GJ really.
I would expect we could dip into 212.60 or even as low as 212.00

Andrew contends the floor could still fall out from under us.
This is nearly impossible at this point.

Some Bear boys go to jail today, that must have been nice to get it over with already, instead of all that anxiety waiting to get arrested.

230 pips?!? Where did you go short from? I don't see anything to indicate a short being a good idea at any time yesterday. If you were going to go short, you should have been short into 213.20's when the Doji spiked up on the 12MIN you coudl clearly see she was going to retrace some.

I will be the first one to tell anyone only a fool goes short GJ. If you get caught in a short trade LT waiting to make back 230 pips, they will run youout of money with daily interest charges from rollover.

ONly reason I am OK holding drawn down on some longs is due to positive interest/swap/rollover. But drawndown on some shorts that are a few figures down would have me feeling real angry.

I would suggest setting an order to liqidate them all from 2-5am tomorrow morning EDT after Franfurt open and london open. But depending on how asia does you could be in for more of a beating than 230pips.

Originally Posted by TradeMonkey

I just woke up and saw this MAJOR dent in my live account. I'm down 230 pips on a short gpjpy. Should I wait for some retracement or just suck it up and take accept the damage? Can any of you veterans give me some light on this?