This site looks impressive in terms of content. I had a look there when I was starting my experience with Forex but got scared by amount of threads to go through and level of expertise so went to BP and stayed here for a while. I still have to develop my technique and psychology to stay above the water. So much to do. Besides I consider myself a beginner.
Yes it is impressive. I had very simular feelings about it when i first got started, and luckily BP was here to get me going in the right direction. Soon enough though youâll find that you need or want abit more than what BP has to offer (or at least i did) in terms of reading the market⌠how to read the market, watching some serious traders trade and how they go about it (no offence to those here on BP, just the level of trade discussion does not get as detailed). And soon enough i found myself back at FFâŚ
As you determine what type of trader you are youâll gravitate to the appropriate threads, and there much like here, those with the wealth of knoweldge are only to happy to help you learnâŚ
I found that i started off with Ignots rainbow strat, have added some of Auslancos, and a few other tid bits to tweak my trading system in conjunction with gaining more knoweldge on just what drives the market. I basically have used âcollective knowledgeâ, combined to fit my personality as a trader.
Current guppy price is @ 145.34 on the bid and 145.41 on the ask
My last short is sold at 146.775 with TP at 146.275
so I will easily get this 50 pips as the current ask is 145.41 almost 100 more pips DOWN. My other short I sold before the close for a few pips to avoid the risk and negative swap. I should have held it as when the market opens for me here I still think we will be down in the lower 145âs or even into the 144âs at which point I will be adding longs.
This week will be crazy with end of month futures expiring. Down around 144 I am not going to go short in here unless I see something I cannot see now.
Black Friday Sales were up but profits were down as goods were sold at a much lower profit margin. So donât be fooled by the deceptive black friday sales figures.
Many of who consistantly make money in forex. Ignot is a good trader and his trading methods I have learned a little from. Malcomb14 taught me alot and that is where I started in his gbp/jpy scalpers thread. He also has a pretty good 1-2-3 system which I have yet to evaluate completely.
But I do learn from others, but I do not use what others are doing as my basis to get into trades.
But based on what I am doing now, there isnt a single one of them that I bet beat me pip wise over the last 9 days. My uncle sent me a piece on cycles going back to the early 1900 that is quite long, that was very good.
I intend on keeping my 100% winning streak going next week. The thing that normally foils me is others opinions about guppy.
Who was the goof in here telling me up when we were at 190âs and I said I was willing to bet the farm on the down, I should have bet the farm short at 196 or wherever we were and I could have retired, but instead I allowed anothers ignorant opinions effect my feelings about guppy.
I really have watched guppy almost e very tick for almost 4 years.
You could say I am obsessed with her, almost to the point that my real wife is jealous. Guppy is my spiritual wife and she will make me a very rich man.
Guppy is going to pay for my new house. And she is now putting food on the table again, her and the hens My account went live last week.
Instead of giving signals and allowing this thread to be a journal,
I guess I need to try to help others develop their own trading strategoes
by learning tricks and tips from me.
I also donât know if I can put together a new set of rules for my newest trading methods. But be sure I am getting her 100% profit on all trades now going both ways, short and long.
I consider everyone here who regularly contributes to this thread to be pretty advanced, thanks AL, Paki, Cdawg, m2P. donât think less of your trading and belittle yourselves with negative thoughts. You have what it takes already within you to beat guppy day in and day out. Do not doubt yourselves.
Many are reading this thread and even if they dont speak up they are silently learning from you as am I. Depsite how advanced I am in my guppy trading
I am still always learning.
For now my shorts will sqr up for PP (pips profit), and I will continue to get long in the dips.
We may have already hit the bottom, I expect a 23% on average
retrace or reverse up from the last known bottom, so be careful on those shorts, and if she takes off for the north pole better cut those shorts loose as it may be a long time before we see 139 again.
I am with cdawg or whoever was saying 150 before 139. After the last week of action it appears guppy may be on her way up and that she will indeed make 150 before 139. 129 may never come. I am leaning to the long side and playing it careful with the shorts. What I need to learn to do is to be patient and hold trades longer to make more PP.
But there s nothing wrong with not getting to greedy and settling for 20-50 pips instead of trying to hit home runs all the time and make 100 pips or more.
Multilot trading like getting 3 is a good technique, where you get 3 at the same price and set your TP on one to like 30 and another to 50 and to let the other one RUN and on that last one set a SL at B/E or just above.
This is a very sane and effective idea I have already found.
I do not and will not USE SLâs that would cause me to lose money.
I am not saying that if I am short and she beaks out to the north that I wont close a short for a loss. On the momentum moves, it is like a freight train where she is going to keep going up and breakouts with huge momentum,
would cause me to sqr up shorts for a loss.
But for now I will continue to trade her both ways, long and short so I can play both ways and increase my PPâs. But I am not too proud to maintain that 100% winning ratio. I will take a loss on one short if I have to, to try to limit the amount of pips I have to give them back.
EU/JPY GJ and CHF/jpy will all gap down at open and probably e very other
yen cross. I dont see anything on UJ, but it probably closed down as current price is 95.36 bid 95.56 ask. I dont trade UJ anymore.
I ended up with 8410 pips for the 2 weeks (really 9 days)
2850 week before last.
So the week that just passed I got 5560 banped pips which is 560 pips higehr than my goal.
Never ever ever EVER give up!
This weeks goal again will be 5000 pips so I can achieve my monthly goal of 20,000 pips/month
The new month starts Monday Dec 1. Again it is important for you to set a relaistic goal for what you wish to attain in the coming month, then set your goals per week at a level to reach the monthly goal.
If you miss the goal, you have not failed, ALL you need do is extend the deadline
if you are new maybe a goal of 500 pips for the month is better, converting to 125 pips a week is realistic for a newer trader. Set your goals!
without them (SADLY) you are doomed to fail. Inspect what you expect!
Expect to reach your monthly and weekly goals, get a dialy goal based on your weekly.
my short did not close! I was looking at the wrong acct.
I have both demo and live now on forex.com mt4 platform.
If it opens gap up though be assured it has a 90% chance of making up the gap. So if it does open gap up, it is ALMOST sure to return to the level at which it closed. I guess we will wait and see what Syndney brings me.
current bid is 147.21
I am going to continue to get short up into 148. She will retrace down some for sure overnight. LT I am strategically adding longs spaced a min of 50 pips apart.
Last week meant not very much in the grander scheme of things as trading was very light.
It seems she is sliding slightly down, how far down she goes no one knows.
UI feel better collecting +swap and buying more longs as she dips down.
She is going to have to rock up to at least 147.50 or so before I add any more shorts.
It is going to be a wild week, And I expect some ST down, but she is going to take off north like a rocket before the year is over and I am willing to wait with my conservative very value priced longs.
For now I wait, picking up longs on the way down, or maybe some shorts up into 148.00 But there is a good chance she is going to make a break for the north pole maybe 150.
I concur with Cdawg that 150 is more likely here than 139.00 and lower.
Yep, that 146.00 looks like a done deal she has picked up my long there. Iâm waiting for her at 145.60 with another long and now just canât decide if close the short from opening or let her go. All in all I wish I could have opened 2 lots so now I wouldnât have suffered a dilemma.
I canât agree more with both of you. There is definitely a mood for a upward movement in risk (stocks,carry) but nobody knows how strong. Only one thing worries me a low volume for all this movements. That would mean there is no true power and will behind it and correction may come very abruptly. Markets are awaiting decision on another bail out in a few days (collapse of 3 big car makers) would shaken the markets quite a bit. All in all I keep my lot volume low.
I will leave the short with TP at 145.63 as looks like the risk aversion is a theme for Asia. She has already picked two longs 147 and 146 so let her go. Itâs time to hit the hay cause itâs late and rainy here and tomorrow an early day starts.
I wish I could be a mature swing trader, I wish for a very few reasons.
And based on the NEW news that ford has opened of will open very soon their newest plant in brazil. And it looks like ford is moving south forever, to South America and elsewhere where people will work for 50 cents an hour instead of the bloody americans that are getting $30.00 or more, unions here demand and get high wages. I let my membership go in the Ironworkers union.
There is a talk that UK will join ECB and they gonna replace Cable with Euro.:eek:
Rate would just be right as for now is about 0.8 (having in mind PPP index)
HMH is probably having some acute palpitations.:eek:
Has she ever thought they will get rid of her face from coins and notes and replace them with a picture of the Eiffel Tower ??
Looks like itâs serious, the bloke from European Comission (Baroso) said it today on Bloomberg.
Wholy me, I can;t believe it.
Yep, that Ford plant in Brasil is the sign of a new deal coming out. They had to do that.
I canât believe one day (night- of course Sunday as per usual:rolleyes:) and you coming across this news.
Hey all Mates here we have to be very quick in banking pips. Days of her mad runs may just started to fade. I hope it wonât turn out to be true. Yuppy (anybody has better nicknames please post here) (EUR/JPY) is not even 10% as mad as she is. That is juts unfair !!!
I wanna throw all the toys out of my pram :mad:
My account went live last week.