That is why she has a hummer limo. And unfortunately the bears are multiplying and will be run over by her here soon.
I read an article talking about the ever increasing number of bears in the market today vs yesterday and the day before that especially related to equities. Maybe Andrew can help here. There sure is a strong correlation between GJ and some equities there has to be.
Housing prices may not have bottomoed out yet but they will soon and now isnt a bad time to buy, BEFORE rates go nuts heading into thanksgiving which should make for a real slow start next year.
Iām afraid Iāve become disillusioned by her wild character and lack of respect of the lines, candles and other super tech bits and bobs
Anyway I will be trying to hook even her bumper
Looking at the long term picture:
It looks like ascending wedge with a tip around 220.00 -just bigger picture which MAY represent bull ride is getting weaker.:o
I know the upper resistance zone can be broken and she can stop at the Arctic pole, this could be the other set up. Meanwhile I will be trying to catch her bus and ride wherever she wants to go.
Trading is inherently very risky those that trade trade at their own risk.
DO not take my advice and expect to make a profit, my trading stylemay not suit you, and/or the emotional drawdown that goes with unrealized losses may not sit well with your ego.
Everything I say as related to trading forex is a matter of fact ONLY as it relates to my account or my trades. All references I make to forex and my account are related to live accounts with balances held in genuine USD at FXSOL.
Just because I do NOT use stop loss orders donāt transform that into your ability to trade successfully without stop loss orders. You know jhow I feel about stop loss orders. And some people MAY need them. But it all comes down to account management, the more of a percentage of your total available margin you use, the riskier you are trading.
Always have 3 valid reasons to get in a trade. And always think through what you are doing and be sure in your logical mind, do not allow your emotions to overrun your mind. I do not know of any really emotional traders whose natural emotion is able to zero in on predicting price movements. This may or may not even be possible to be that intimate with guppy. In the end she is just fish! And sometimes very smelly.
I accept no liability for anyone strading misfortunes as a result of following me. Trade at your own risk. But be careful as once you really learn this method the light will go on for you and you could easily make thousands of pips month in and month out. Some here are living proof. And they donāt need to post their results from their live accounts as proof. And I here we will assume you are talking about a live account unless you say demo account.
I dont want there to be any confusion. I donāt want anyone to lose money.
And I always call it like I see it. Like this morning when I changed views and I saw guppy was really going to head north from 214.00. She is really consolidating now but I expect a momentum breakout to the top before the week is over possibly blowing past 216 and spiking to the next fib level.
She doesnāt seem to be running out of steam though.
I think the retrace downs are continually not as far and she is going up way more than down. Once she gets to 220 I think she is going to have such momentum LT going on it is going to be hard to stop her.
The force required to drive her down is HUGE. THis is like trying to hold down the Great Crocodile, easier said than done.
[B]ā¦Thus says the Lord God: Behold, I am against you, Pharaoh king of Egypt, the great tannin crouching in the river, which has said, My river is my own, and I have made it for myself. But I will put hooks in your jaws, and I will cause the fish of your streams to stick to your scales, and I will bring you up from the midst of your streams, and all the fish of your streams shall stick to your scales. (Ezekiel 29:3-5)[/B]
Bottom is the old 100% @ 213.79
top seems to be 214.85ish so a 100 pip range.
But its getting even tighter than that look at how constricted the bollinger bands are. They only contrict so long before there is a breakout.
dont expect that in Asia. See you in London.
Drawing any line study is like placing a stop (which is a line study on its own - or it ought to be): part of it is rational (āabove resistanceā, ābelow supportā, ābelow a round number [I]n[/I]ā etc.) while the other part is intuitive. As we know the āintuitiveā part is more difficult because it takes time and effort to cultivate.
The same goes here. The first thing to mention is that I ātelescopeā fib fans. Yes, fib fans are fractal, and that is important and related, but not exactly what I mean. By telescope, I mean the layering of fans from different time scales (not TFs, necessarily) to reach a historic layout of S&R for the pair.
To begin, go to the widest TF you look at: I glance at monthly and weekly, but usually am to deep in the weeds to give those more than a passing glance and a knowing nod. The first I consider is the daily. Draw as you normally would: depending on direction, swing low to high or vice-versa, generally excluding the latest of these.
Within that fib fan, I will pick a secondary swing low/swing high, typically (not always) with the latter point coinciding with the latter point of the larger fan. This smaller fan takes in a more recent fraction of the data series from the context of the wider fan, in effect zooming in more closely to look at price with a higher degree of granularity.
This can vary from time to time, pair to pair. The largest fan is easy: what comes after is situational. If the larger fan was from swing high to low but the market has more recently recovered from that low, but then corrected a bit (in other words, a general V 1-2-3 pattern has completed). The larger fan will give insight on that recovery because it slants down, but where will price go from end of the V? Here you draw from the middle of the V to the top. The result will create a lattice pattern.
So youāve constructed two large fans, but you trade swing or intraday: your lattice points are few and far between. Repeat the process, zooming incrementally. I move from 1D to 3H. Here is where most of the fans emerge. The data series is more timely, and produces more immediate price S&R levels; helpful, but not as enduring: price quickly move through or off of these lines, pushing them quickly back into the annals of the pair.
Here is where things become interesting: swing lows and highs on the 3H, unless weāre in a tight range, are often invalidated. Lattices are drawn more often with more frequent oscillations in price as price action becomes noisier. The point to catch, though, is that they are [I]swings lows and swing highs[/I]: significant levels of engagement for opposing market forces. That means old fan lines generated by old levels (this explains the fan line I referred to in my previous post) remain relevant off into the future. Like old trendlines (again, weāre talking S&R), these old drawings have a tendency to crop up again and again as price abides by them - it pays to be vigilant over what bounds price has respected. You know when they become invalidated: they move out of the scope of the chart, or your lines become too numerous, at which point the zoomed-in fans drawn earliest are first to go.
As you might guess, the larger latticework created is very infrequently rendered invalid because they are overarching, macro levels. Do I ever go to 1H to draw? Not much: only to zoom in further to monitor S&R. I never draw on anything lower than 1H; but for long daytrades/swing trades are normal, so 30M on down has very little relevance.
Along with these, speed lines are very helpful: if your charting package doesnāt offer them, no doubt thereās an MT4 indicator to produce them. Generally these lines measure 1/2, 1/2 and 2/3 of the swing high to swing low, and fit betwixt the fib fan lines. the construction of speed lines is performed by creating a right angle using the two points in the swing low-high/high-low and then measuring out these critical points. This study is all but unknown, but is a very, very useful adjunct to both fib fan and retracement drawings.
More to say, but Iāll let it go at that general description. Let me know what questions you have, if any!
I opened a pro practice account AT FOREX.COM BUT UNTIL they stop STICKING customers with this FIFO BS, I will NOT trade there with real $.
NOTICE: forcing a customer to trade his currency lots in the order that the forex broker prefers is WRONG, and is ONLY an advantage to the BROKER.
THIS is WHY brokers like FXSOL are clearly keeping thier customers interests in mind, when they allow them to trade any order at ANY TIME in ANY order they wish. Thanks AGIAN FXSOL! THEY clearly ARE the broker that gives the advantage to the trader!
In my demo I am long GU, NU, and GJ
I have sold my UJ longs for 30+ pips in the forex.com demo.
I am bidding for more GJ and GU lower.
In my one of MY real accts at FXSOL, I am only trading NJ long, and buying down into 78.49 But we wont get there, but just in case.
GJ is still looking to make a break higher, nothing too exciting ion london so far, we were at the top of the range a short time ago, and it looks like the lows are getting higher and higher.
I subscribe to a newsletter by Steve S. he is a wise experienced trader.
He has emailed me this link and it seems to be pretty nifty,
for now it doesnt look like there is a password but it may in the future, I dont know, as I am a paid subscriberā¦take a lookā¦ DailyWealth
it is a very nice market window and may provide some insight for some traders here.
Been studying some oil charts, Oil rallied almost 50% from Feb to June.
The ST OIL rally is over. Prices have been sinking. Gas I saw yesterday for 359.9 which is a far cry from the 400.0+ it has been in Virginia. Huge trading volumne was seen on some moves down, indicatong big money managers selling oil and takeing profits. In the LT oil should go back up, but in the mean time its going to be a wild free for all as oil dips sending everything else the other way.
If we can figure out the ratios, I am certain there are ratios between oil and gold and GJ but I dont have them
Elijahā¦I am not being negative with this post and am not focusing on the thing I do not want. But I feel that it is the responsible thing to do for me to follow up with some comments I have made on this forum. Several weeks ago I said I was doing very well with my new live account to the tune of about 15% a weekā¦I then corrected that and said it was more like 10% a week. Wellā¦It IS true that I have worked for two years trying to perfect my trading plan and after trading with what I thought was a pretty good system for 5 months starting in February I had brought a demo account up from $100,000 to $1.2 milā¦that is true! Averaging about 10% a week.
But we all know about the dreaded ālive accountā after trading a demo account so successfully for so longā¦I didnāt think I would fall into that trap but surely I see I have.
In June I opened a new live account after suffering a setback many of you are aware of while āattemptingā to trade this Guppy system. My new live account was doing very wellā¦and I posted my encouraging results to share with all rather prematurely. Pride goeth before a fall. Sure enough, the bear ate me this week, and I have lost all of my wonderful gains and then someā¦
I am not whining, but I felt badly saying i was doing so well and then to just leave it at that. I DO plan to make up for itā¦and will not throw in the towelā¦but just wanted to be certain that I was presenting the whole picture.
It is VERY IMPORTANT to note that this misfortune I am describing was NOT a result of Elijahās system. I have not been trading this system live (i am beginning to see now I SHOULD have been).
I apologize for boasting my overwhelming returns without giving it some more time, and normally would not take the time on this forum to blab on about this but felt very irresponsible not telling the whole story.
Rest assured, the Phoenix WILL rise from the ashes!! I got caught in a HUGE bull trap with the pound and euro, and will never be so brazen again!!
I will probably play Elijahās strategy with what funds I have leftā¦very conservatively!!
Very wierd action today ā¦ almost insane $ strength vs the euro, swissy, cable, but not vs the guppy ā¦ which usually follows the $ and stock market up AND it usually correlates inversely to oil. Today she is doing none of the above ā¦
My demo account forex.com: is down like 6800.00 on some GU mostly, a little gj drawdown, and the spread on NU. I see UJ jacked up bu GU sunk so guppy is right in there at what seems to be hard support for now around 213.80/90.looks like guppy is running the show here today and uj and GU move to her whims. I am staying in these as the USD cannot keep sailing above the world despite the obvious, USD is about out of gas.
fxsol live acct: NJ hit 79.32 so I bought all the way down and made 100+ pips or so on 4 or 5 1K lots
take a look at it looks liek it is at trend line support on the bottom and is in an upchannel it looks like it has already hit bottom.
look at the 2 hour. its already coming up from the bottom so I will hold these/
My GU experience tells me if you hold GU long enough you will be able to get off wherever you want if you are patient, and trading GU with no SLās is almost as crazy as trading guppy that way. But dont kid yourself there are plent easier pips to make in GU than GJ. the way I figure it this guppy chick still owes me pips from wayback.
āLife is just a blank slate, what matters most is what you write on it.ā
Christine Frankland
We have to learn from the past, and the reason why tradding guppy this way works is for so many reasons, but a big reason patience plays so big of a part is beacuse you can hold guppy forever, not that will have to, but sometimes you do a RT trade in 5 minutes sometimes it is 5 hours sometimes 5 days, you never know, nor does it matter if you trade every day. You can get to a point where you really dont have to pay attention to guppy and set your orders and forget it.
I would never do this with EU GU UJ or any other pair except those positive swap trades. SInce EVERY night swap is done, so you wont have to take actual delivery of the currency you bought, you can literally hold pound or kiwi or aussie long against the yen. The key with this system for me was
safety. I think I have perfected it now. It works with NJ too and I am sure AJ, just much slower for NJ and and a little slower for aj. It is safe because you NEVER have to sell longs for a loss. If I buy kiwi today and hold it for 10 years, the interest I collect over 10 years will be huge. Japan is not changing. The peopel are set in their ways. They will continue to finance the world (USA) as long as I live, unless we bomb them or something.
Considering that since and after they bombed us, we have paid them craploads of money over the years for the damage we caused to them.
So if it wasnt for us they wouldnt be in as good of shape as they are now.
If I was the preisdent when they bombed Pearl Harbor, I would have sunk the Island known as Japan if it was the Last thing I ever did. So they should be grateful and continue to fnance us for a very very long time.
This is why you have to trade a real account even if with just 1K lots.
My last 12,000 pips were dimes! a meager $1200 in profits I am up over almost 2 months since I went back to using this account. I say that not to brag but to point out that even at 10 cents a pip, I am actively trading with real money and proving you can start from basically nothing and make something of it. Soon I will go back to GJ when I get some more money.
But once you trade gj at 1K lots with real money it will be easier to work up to 5K lots 10K lots then 50K lots or whatever you want. BUT the experience you get at 1K lots in INVALUABLE, the more you trade her the better you will get at it gauranteed. When I first started many years ago she raped me every other time I traded her. So maybe I have a vendettta against her. The only other pair I ever really lost big on was UJ, I just ran out of money and got sold out, but was in way too deep, averaged down too soon, used way too much margin %age, but forex.com doesnt have something as nice as margin useage % on the trading platform.
Id say forget about trading those other pairs until you are nailing down over 99% profits on some real GJ trades. It will build. My trouble is. I keep spending it so my account cant get too big. My account would never grow to 1.2mil! I would take money out steady as she goes. When you have a demo account with higher levels of money it is easier to stay in trades longer when you are deep with $ in your account. When you have less money and maybe no more to put in. You have to be conservative until you get in the groove with her. And even then you cannot trust her at the wheel unobserved for too long or you will wake up and find yourself in Brasil or something, sold out and with no $. Once you are trading her for a while with real money you still always have to be careful and dont let your emotions get the best of you and affect your trading. I do not think trading can be done emotionally. This is why many cannot handle drawdown. Their mind wont shut up with the stupid thoughts. After a run down and up with GJ, my style
even once should turn on some lights upstairs as to the meaninglessness of drawdown. Yes you want to minimize it, but with GJ it really isnt worth worrying about if you follow the rules.
I dont want anyone to be confused and if anyone has any questions ask!
by all means do not trade this way on a real account above 1K lots without
first testing it in demo first. The more experience you have before trading this way the better. Trading gj this way you learn as you GO by trading.
You want to learn and make mistakes NOW, while the lots are 10 cents each or free. But trading with real money is key, if you ever expect to earn any real money from trading gj.
I have not grown bored with GJ. I still watch her just as much as if I was actively trading her. I AM trading her in my demo acct with GU NU
GU is coming back now I am only down 4700 in the demo now. 4478.00 is GU!
so I am about even on GJ and NU.
Act as if, even if it is not a reality yet by acting as if something were you make thus faster.
But I understand what you are saying here.
Thanks for coming clean I know your intention is not to lead anyone to believe all is well when it might not be as well as it was.
I feel good about forex. I am confident with my trades both real and demo.
I got the demo as just sitting and watching NJ is like going to a baseball game. So the demo is entertainment in the meantime. But I am trying to make $ in my demo account even though that is not where it matters.
