Where and how do you determine to start placing your buy orders and where to?
The circle next to the user name should be green if they are online.
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”.
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.
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.
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.
2 Likes
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.
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
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!!
I don’t know what sent her into a tailspin. That news at 10am was as expected basically. I am only up like 193 pips banked 6700 down unrealized
so things are looking bleek at 27% margin useage. I got way too many,
I am still holding 36 longs, some are 5 pips apart wherer I thought we were bottoming. I have scalped a bunch but not nearly enough as I can’t get too crazy as I am over 25% margin. I think we will be able to get through this.
I expect price to rise going into tomrrows interest rate statement, by then we should be another 100 pips up so all will be well. In the mean time
I am holding what I got and maybe scalping one here and there since I sold my last scalp for some pips. I am buying 3 more longs 1 at 205.02
1 at 203.69 1 at 203.59
Well…this is pretty scary, but I am also in for the long haul. The LT is still up, hasn’t broken the 8 hour or daily up trendline. I think this is a sell off and the tendency is still up…should want to test that 208 high again and this time break through.
I am like you…can’t do much scalping without risking more. Maxed out for sure. Have a few buys spaced out at the bottom but most of them are tightly packed between 207 and 205. I have a few down here but not enough to make much of an impact when they get closed.
I love this thread!
What a downturn in price!
rrram2, how are your trades setting? After booking about 40 pips profit this morning, I have two trades that are currently down a combined 600 pips. Before reading your posts, I would have had a heart attack over such a loss!
But wait…it’s only a [I]paper[/I] loss, an [B][U]unrealized[/U][/B] loss. There is no loss unless I close out that trade. So why close it out at all? After I adopted your paradigm view, I am more ar ease with how the market performs. Guess what? I’m concerned but definitely not worried. Why? Just as you said, the price tends to revert back to the original point of reference or equilibrium if you will.
So now I am laughing all the way to the bank because of the positive interest swap I am earning! BTW, last week I earned 460 pips with only one loss that prevented me from achieving 500 pips with your strategy! If I had not gotten impatient and exited that trade early, all 31 of my trades would have been profitable!
This is FUN!
2 Likes
Talk about jumping into the briar patch barefooted. Yes, this IS fun, but in a weird sort of way! I am not so trusting as to believe with all my heart that it will go back up to the starting point. I’m not sure if I see any empirical evidence of any such thing (I admit I don’t even know how to look)…but I do trust to some sort of degree that evidence is there. rrram2, with all due respect, has been trading this for 2 months…I think a person would have to be trading this system for 6 years before I would feel REALLY comfortable! 
Anyway…I am a bit nervous hearing comments like “you can always add capital to your account if it gets too low”…hopefully I can find some. I don’t want to lose my real account. But I also don’t want to be dropping money down a deep GJ well…where 197 is looming like a swamp monster at the bottom of the pit.
For some reason I DO have great faith in this system. There is a spirit about it that I love…Elijah once shared some of his more spiritual thoughts which really resonated with me. I DO believe in positive energy and intention. I also am very much into sharing my wealth…and I trust that I will be successful…even if the GJ doesn’t make it back to 208!! But why not? It certainly is capable of that…and that is more probable than going to 197!
I think Elijah is wonderful to share all this with us and to cheer us on like he does (I know he is not responsible for our success or failure.) So it IS fun, and I love a system that has a bit of rebel in it. I know they say a fool and his money are soon parted…but I don’t see this as foolish…it is a carefully thought out system that has logic behind it. Sure there is risk, but there is risk in flying in an airplane, but that doesn’t prevent me from getting on one quite frequently.
HAIL TO GBP!!! May she rise to the heavens, and if not soon, enjoy the interest!!
Best to all…
Todd
1 Like
OK…for those of you at home manning the fort. There have been ample opportunities to scalp this baby as it rises…this seems to be a very important part of making this system successful. Catching pips on those little dips and re-entering your won trades expecting a little draw back is what keeps money going into the bank and thus reducing the margin %.
I am not at home now to do this necessary work…which may be why I will ultimately fail (although I don’t expect to). It is very important to take advantage of the move up while you can, as it will always dip…more so going up than going down which oftentimes looks like freefall.
I see from the charts there were some good dips around 10:15 and 11 today…and then a nice run up…a little consolidating right now which means another dip may be in the offing. Keep pushing to 210!
Todd
YEs we need to get above 205 for gains to hold same as we did at 204.
30 minilots @ 17.66%! eeek
last order at 204.99 I sold a few others short of thier targets AND
did not renter more orders as I need to minimize margin useage.
And get rid of odd ball orders I bought at off prices or too many too soon because I was impatient or I thought We had to be at the bottom now.
Let’s see what Asia holds for us. I have a little margin now. I’d like to find some folks willing to give me 20 pips on some scalps down.
Otherwise I ONLY have 3 buy orders one at 205.02 1 @ 203.69 & one at 203.59. Relax she is coming up. Eventually.
It is what she does.
Beacuse I was looking at some other threads and there was a guy
who had almost 2000 posts and while his thing didnt say newbie
he did have a little blue box all the way to the right of his posts that on a mouse over it says he is new to babypips.com or something.
Hey rrram, what do you mean by this? Do you mean profitable open trades? Or is that all you have to close to be flat? I thought you had a zillion trades in from 207 or so down…I am confused…
I have a zillion open buy trades open myself, at huge negative pips, all the way down from 207.89. I thought you were in sort of the same boat. But if you only have 3 buy orders left? :eek:
I was thinkiong I was having a nightmare when she ran down to 203.50, I did not see that coming. There was a string of generally bad news fior GBP.
UJ is back over 104 thats nice. NOw GJ needs to poke above 205 on the bid and hold it. As far as if we are going to sink overnight especially just before dawn, It depends on how high we go in Asia.
She has to come back and get me at 209.63. I have had that one over a month and its paying great interest especially on Wednesdays
If you get really good and have an account that you can out money into quickly you can push your margin, BUT best bet is to keep it as low as you can. As soon as greed creeps in margin management goes out the window.
LT is still UP. This string of bad news will fade with tomorrows interest rate statment, which should be no surprise at .25% but it will still move the GJ a Minimum of 50 pips. NFP could go either way and I expect as much as 100 pips depending on the deviation and direction.
I’m going to try to scalp one minilot at a time in asia and hope we can break and hold 205 which should be easy once Asia is in full swing.
Those are the LAST 3 I am trying to buy. I have 30 orders from 209.63,208.09,207.99,and so on to the lowest at 205.05 which I scalped out for another order for some pips. I was saying this because its still at 204.80
AND I am not buying anymore until those 3 @ 204.02 203.69 & 203.59
so if it goes from 204.80 to 204.05 I won’t have ANY in that range as I am saving margin.
I will be swaping out orders for pips. BY closing longs that are sitting pips up.
And rebuying at the same price or even 6 pips higher. SO that if you sold your 204.99 and made some pips. Then you can buy one at 205.05 and you will know this is the one you swaped out. I have all sorts of tricks I have for tracking orders.
Example: It works in life too. Take your gas card, or your MC and buy gas
and every time you buy gas ONLY buy gas and always by gas so that your gas purchase is in the amount ending in 7 for instance. NOw every VALID gas purchase will be like $42.47 $21.37 $57.47 and so on. YOu now know after a short time that every gas purchase that is not ending in a 7 was not made by you or someone changed the amount of your charge or added a charge
I have one high at 209.63 then one at 208.09 and on down to 205.05
30 or so in all. I am treating it like a new cycle because I never closed out the old order. I guess on that last cycle I was up about 3000 pips but got impatient with my loss leader and let it ride for a month and forgot about it.
And sure got close enough to it to close it for a loss and subtract it from the 3000 winnings.
Sometimes you can get tired of waiting for a cycle to complete
and if you are up 9000 pips on that last 3 week cycle like I was before
the old thread got recycled. WHo cares if you close your loss leader for a loss! 20 pips 50 pips 90 pips whatever, subtract that from 9000 you made on the others and you are still up mad pips for 3 weeks.
Its only a loss if you WANT it to be! theoretically you can collect interest until 2099 at which point the interest will be worth 1000’s of times what you original trade was. LIek I said before Stop loss orders are for people who WANT to realize a loss! Think about it. I don’t want to realize a loss so I never place such orders!
Im down about 5000 pips unrealized with a meager 250 pips banked in 2 days.
and my margin is mad up at 18%
I am not worried. I am in it for the long haul and at 30% interest a month you have some of my money. I am counting on piping them every chance I get. But I dont have sufficient margin to buy down to 203.50 if she makes another run for 203.50. I am expecting to break 205 as more likely than heading back south to 203.50. I don’t even know if it sill sink that low overnight. I was favoring a run up overnight if we can make some gains early in Asia.