I guess things are stabilizing here a bit, but I’d never guessed that much of a change. Not used to trading US data. Not used to trading anything with the dollar in it, to be honest. Part of my mistake was trading crosses instead of currencies paired with the dollar. I didn’t realize that trading crosses was essentially trading two dollar-based currency pairs at once. 
Just took a look at my charts. If I had traded my 1H today it would have made somewhere between 100 and 200 pips. Things that make you go hmmm…
I got 36, had 67 or so, but wanted to ride it out, and damned if slippage didn’t hit my stop on a bounce up to the top bollinger on the 5m. Fridays never fail to leave a man mad. I’m going to leave my demo up to see if I can observe some weekend trading like last weekend. :mad:
OK.I did and made some great pips.I read from the wsj that unemployment data was likely to improve and i just went with the flow.
Have a wonderful weekend everyone.
John.
I got the impression from your last post you expected unemployment to rise? Not that it matters as it seems NFP is a law unto itself which is why I stay out.
I prefer to let PA decide where its going… level off and take up the story from there. But congrats on a successful trade.
RC,
I think there was a mix up there.My apology. I expected improvement in the US unemployment data based on the available data with me.I have been doing some research about how depts of Labor and treasury always come up with their data lately(I like to do things differently).This will give me a snapshot of what the final data will look like and given a modicum of luck,we can make some money there.That is why i asked you if you could trade NFP.
Some background.Got advanced degrees in Economics and i specialize in Econometrics and Macroeconomics.I did know my background would be useful in forex and energy trading until lately.
I like to extrapolate data a lot because it furnishes you almost accurate results if done properly.I am still doing some now and i may PM you once i am done.
Greetings.
John.
…for someone with advanced degrees you’ve got an odd way of wording things, because I got the same impression Mr. Carter did. 
John… I’m out of pro trading after Christmas but will still be trading my personal account. So it looks like you as the nearest thing we have in this thread to a bonofide analylst (and I know less qualified) to step up to the plate each morning before London open and pontificate. 
Just kidding… now thats a part of the day I won’t miss! But seriously, any words of wisdom as you see fit i’m sure will be given due consideration.
The GJ is a popular cross because of the volatility but I agree it can be dodgy for some as you have to consider what the USDJPY and GBPUSD are responding to. Technical analysis is technical analysis though - it’s just a chart after all…
I only traded the morning breakout on GU on Friday due to the NFP report…oh and the S&P 500 in the afternoon
RC,
Haha… I am not an analyst at all. You know there is wide distinction between academic and real world.I just try to see if i can make the best use of my field in this trade and see what happens.
By the way,after over 30 years of hard work,you deserve to enjoy the fruit of your labor.But we really need your guardian and direction in this thread.So,please dont go away from this thread.
I will e-mail you from time to time.
Greetings.
John
Oh Christ, the GBP/JPY cross, been smacked around many a time trying to harness the volatility of that pair. A lot of people fail to realize that the Yen is also a commodity-based currency, not because it produces one, but because it sorely needs one, oil. Almost 85%(half being oil) of Japan's energy needs are imported and they are 3rd in the world in that category behind China and the USA. Japan also doesn't have nuclear power to fall back on because of having to import uranium, so oil is critical. So, factoring oil in, and two decently volatile pairs the GBP/JPY is a freakshow. That's three countries you have to watch, US, UK, and Japan, then oil on top of that. That's a lot of monitoring. Failed miserably at the EUR/GBP cross as well. There's too much stuff to monitor in forex in the first place without monitoring two pairs at once, and if you are watching the Euro you aren't really watching a single currency, you are watching 16 countries(but mainly only the biggest ones), then the UK, and US too?... so, unless something drastic happens I'm staying with GBP/USD. At least until my fundamental skills develope further. EDIT: I forgot to mention all the bank holidays and time zones from across the world. It's somewhat complex just to know the when in forex at all times without monitoring all the extra stuff involved with crosses.Getting close to the Power Hour, anyone along for the ride?
Edit: Looks like a retrace in the making with a bump upwards right before the Aussie close. In with a buy at just above 1.65. Whew, got out with only a 7 pips loss.
Looks today like its going to be to the downside looking to my 3 day TF a clear longer term trend is starting to form on my 5:1 boll i.e. PA has come over the top of the curve, short at 1.6446. GBP/JPY looks good as well, short at 148.42.
Yep, the middle line on the Week chart @1.642ish just got broken through. Not up 92 pips yet, but looking much better. Got faked out hard earlier expecting a retrace. Just about to lock in my 20 pips minimum.
Welp, I’m out 70 pips in the good to start the week. Should have been twice that had I not gotten faked out, but recovered nicely. Back on later near the New York open.
Yeah, after a bit of a rocky start, I got in a short @1.6450. I was wondering how you were already up 92 pips. I thought you got in about 40-50 pips above me. Didn’t notice that you were short on two different pairs. Nice drop after that break through the center line on the Weekly chart.
The 92 (currently 112) pips was on GBP/JPY. GBP/ USD currently 72 pips.
I honestly didn’t think you were the type to run two pairs at once, that or multiple positions, even on the same pair.
Not sure I follow? As long as lot/ lots sizes are proportional to account balance it really doesn’t matter how many lots you have running. It can be a good thing to spread your risk accross two currency pairs. Often times I will take a position on GU and EU. Both will go in the same direction but one pair will usually out perform the other.
Yeah, I must have misunderstood you somewhere along the way, I thought you only ran one pair and one position open on that pair. My mistake.