you still you can grab a long at 131.20 looking for a minimum jump up before noon to 132.20 should be an easy 100 pips. Trade what you see, not what I see.
gbp-jpy-chart - British-pound-Japanese-yen-AKA-FOREX-GUPPY
I uploaded it to posterous for image hosting
and I added a 4H chart suggesting a short is actually in order on the 4H chartā¦be careful and use those smart money management skills
āBROKEN LINK REMOVEDā
move up your SL to 130.65 if you must, but let this one run, its a little slow on its move to 132.20 by noon, but we arent too far off, we are up off the bottom and have cleared the 50% fib level at about 131.30. This should hold as the low for now, grab at least 100 pips and ideally hold out for 134.85.
most of you should have sold your long guppies for 100 pips. I almost sold mine.
two 15M bars now in a row have hit that hi on the bid 132.20 or 132.19 if it is rejected again I may dump my guppies for 100 pips.
I am looking to add another long at 131.40. I may also take a short from 132.20 and sqr up the long for 100 pips, or I may wait for 134.85. so order to buy @ 131.40 is pending and the long is still open on the top and it makes sense to move the SL up to at least 130.65
if we can blow through 132.20, resistance will become support, and guppy will get another leg up, Iām going to bed and setting my TPT @ 134.85 SL @ 130.65 trade is 95+ pips to the good.
now I can just let this trade run. walk away all day, the further the trade gets away from my new SL @ 132.20 the further I will move up the SL.
Sometimes I use trailing stops but I find that they dont work as well as manually moving your SL up locking in a predetermined number of pips.
actually better would be a SL @ 132.10 as guppy is likely to come back down in to 132.20 before heading above, 132.85 and 133.10 are a little sticky but shouldnāt be a big problem.
I have not looked at the news events of the day, but I like to stay on top of red news events that tend to mve the market quickly.
I thought about sqring up the 131.20 long at 132.95, but instead I moved up the SL to 132.40 locking in 120 pips of profit and still looking for my final target of 134.85 which would give me 365 pips of profit, but at the least I will get 120 pips on a run down into 132.40 which to me is unlikely, but just in case. I am not going to sit here all day and watch guppy.
Hi rram2,
What do you mean by ST and MT? Pls kindly advise. 
ST short term 15M MT 1H LT 4H
grabbing a guppy long here @132.00 I got stopped out of the other trade with a 120 pip profit. guppy to me is ready to jump back up. holding one long now @132.00
setting a SL at 133.20 now locking in 100 pips of profit. TPT is set to 134.85. SO on this trade I will either get stopped out with 100 pips profit or It will hit my TPT of 134.85 which would yield 285 pips of profit.
I am very busy, but trading guppy and making $ is like taking candy from a banker (er baby)
please share what indicator you using.
This method of trading is carry trading and scalping? Iāve been reviewing this post for a couple of hours and am trying very hard to understand it.
At the base of trading GBP/JPY is the by going long you will have a positive swap each day you hold the position?
By using leverage you will be increasing the amount gained instead of just having a 1:1.
You only realize loss when you close the position and why close it if you are gaining interest?
You should close it after a certain point if the position is going against you? Because after a certain point the loss from closing the position will far outweigh the interest gained?
Because of this potential, trades should be scaled into the bottom price or areas of support?
Is this strategy still viable for the GBP/JPY today? I noticed nobody has been posting in this tread?
Can someone please clarify the method and theory of this trading? Iām doing my best to understand and would appreciate any help. Thanks in advance for the help and answers.
This method of trading is no longer viable?
I read somewhere at the beginning that you only realize the loss when you close the position, but why close when your gaining interest? However since the price went down so much sooner or later wonāt the cost of closing the position outweigh the interest gained?
You say the carry trade was the objective but why was there talk of closing positions? Iām trying very hard to understand this method.
Do some brokers actually credit or debit your actual account balance with the interest even if the position is not closed.
Thanks for the help in advanced.
Sure it is! I have shared my live account at MB trading. It is mt4 and the data is shared through the Forex factory trade explorer which gts th data from th broker through the investor password, so all trades are live and actual. I shared the defaults with the world. Iāve tweked it a little since I posted here last
interest is low now, and you gt cash added to your account daily for Positive swap that you earn every day. The idea was to bank pips by closing profitable orders, the carry trade was a back up
. Its the same scalping game basically without much swap, the real money is in scalping. And now everyone can see my live closed trades and my open trades (prices)
ST is short term MT is Medium term
here we are a year later, about in the same spot!
The pair bounced strongly without reaching 117.00 level (which is very strong support). It looks to me it is at resistance now. Do you expect it to reverse now and reach that support?
We are in a nice range now, Continuation up once we get past 154. Great range for scalping some pips.
Hi rram2,
I just registered with ibfx and has a small account, looking forward to doing live. For your statement below, can you give me a link or something to see your live trade? Thanks.
āSure it is! I have shared my live account at MB trading. It is mt4 and the data is shared through the Forex factory trade explorer which gts th data from th broker through the investor password, so all trades are live and actual. I shared the defaults with the world. Iāve tweked it a little since I posted here lastā