WHEW! I got TMTH starting at 213. and have been sitting on them just collecting interest. I held on though! Lesson learned!
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I think we could get there before week end if all goes well. I expect to bounce off hard the first time for sure.
[B]âThe only limits on human achievement are self-imposed.â[/B]
Dennis Waitley
OK, in order to see for myself why this moves-at-a-snails-pace NJ chick seems to have such a pull over some in here, I went ahead and got 10 positions in my other demo account (I use one demo account per trading strategy to keep things straight) and every time she moves down I will get more, to the max of my margin, and see what happens over the longer term.
Apparently she leaves generous amounts of money on the bedside table every evening, letâs see if I can afford to find out just how much she can give.
If she keeps running up that upper line she will hit 212.20 by 530PM
but tradign should die off here soon as NY closes.
my loss leader is at like 200 pips down. But at nine cents a day per 1K lot thats 100% of my used margin for the trade every 21 days and maintaining safe margin reserves in my account to account for drawn down my account will go 100% a year IF I donât compound my interest which I am getting daily.
But really I have to get out of it. It moves too slow. I am missing so many gj pips it is sad 
Quadrouple Interest today! Due to the holiday!
That was certainly a strong finish.
isnât it quadruple interest tomorrow?
Whatâs up?
Anyone holding longs?
I got one.
London is around the corner. Anyone around? âŚor in bed, where I should be.
bottoming now at 210.80ish, which is 50% fib level should be heading back up from here.
The holiday is Friday so Tuesdays rollover is 4 days worth.
If MOnday was the holiday then it would have been quadrouple interest today, wednesday
Hi. I am new here and joined today. I play some FX from time to time. I have traded it professionally earlier in my career and FX arbitrage also.
Let me tell you some things I have learned over the years.
- The best traders in banks only get it right 60 pct of the time. That means 40 pct of the time they make losses.
- Analytics are rubbish but not to be ignored. Originally charting was started hundreds of years ago in Japan to try and predict the price of rice and wheat. Its only now we have weather derivatives. Past cannot predict the future! The reason it sometimes works is that it is a cult among professionals. They all learn it, they all believe it, they all follow it,it happens.
Why?
Insurance thatâs why. If a trader has a bad day and looses a few million and his boss comes over to ask him what happened, he or she can rattle off crossing MAâs, fib breakouts, RSI strengths etc, his boss will look at his methodology and will probably say something like âyes, I would probably have done the sameâ Its a club. Play by the rules and you will probably do fine (60 pct of the time at least)
Play the game, join the cult, donât be as aggressive as the major banks. If something is due to run 100 pips, take 75 or 80. Stay within the expected ranges and take all the little done deals in between. Donât be greedy. If the market looks bullish take the carry trade, buy it 5 minutes before rollover time and dump it as soon as you get into profit, then consider the first hour of market direction.
My next rant⌠Where did all the central bank gold go?
Iâm still holding long, having taken ~50-100 pips on a couple of occasions (including the running up a couple hours ago to 212.10) along the way - my basis right now is around 210.60.
Two things in the way of a break here @ 211.62: 50% fib retracement (213.80 to 209.40) and 144 EMA, both plotted at the moment within a pip of one another. The Guppy canât seem to hold a close above either (from 1600 ETâs 1H onward). On IKH 3H, price remains below the cloud, while Tenkan has crossed back above Kijun (weakly bullish below the cloud), and Chikou Span is mixed.
Welcome to the forum. I think youâll find your comments arenât too cage-rattling - in this thread, anyway - because some here are new enough to not have a cage, while most are pretty open-minded. That said, I donât know how rrram will feel about general market-related discussion that has no direct bearing on Yen crosses; but I donât police that kind of thing. 
Analytics arenât rubbish and are predictive for the very reason you mentioned, though; but in a different way. Knowing there is methodological conformity among institutional traders/big money - âThey all learn it, they all believe it, they all follow itâ - and having some idea and familiarity with what âitâ is provides the necessary edge to establish what is more probable and then trade in that direction. Homma wouldâve said as much. 
Itâs no secret fibonacci studies, for example, are mostly or entirely validated because of their widespread use by market participants rather than because those ratios are a pervasive feature of the material world. But we use them to speculate, to predict (otherwise there would be no such thing as a take profit or target price); and thatâs enough. The commitment or directional sentiment of the market that makes up its mass consciousness - which is all a market is - is molded and informed by those perceptions and analytical markers held in common. Even though that seems like an âartificialâ construct, it is not, because anything introduced to the market - e.g. analytical collinearity among institutional traders based on âcultâ membership - becomes a natural function of it.
Hi Andrew.
Itâs good to know there are people with open minds. The reason I posted here first was that GBPďż˝ is my favourite FX pair to trade. I will keep the off topic thread to another forum as I donât want to upset the boss on my first day. However the central bank gold posting might have to be tamed down anyway since it heavily implicates a certain US investment bank and several large western central banks.
Off for some liquid refreshments now, the day is over in Japan.
Regards.
Hajimemashte, cuero. I was in Japan for 8 months, tried to learn Japanese but it was more difficult than I had imagined
In here we like to stick to our main topic, dissecting the guppy, but it sounds like you should start your own thread, maybe in the fundies area, I would be very interested to hear what you have to say about the central bank gold issue.
Dang, I need to learn more how this interest thing works, I sold everything before 5 pm because I was going out, had enough profit and didnât want to risk a downturn while gone ⌠I totally spaced the interest thing! Oh well, would not have been that much in a micro acct ⌠I think 25 cents per day per position? Still, I need to pay attention to it, I see in my demo account I got some great interest. 
I ended the week basically flat, having gone up & down over 15% of my account at times. I am satisfied because I learn a lot more when losing than when winning & in the end there were no actual losses for the week. Up for the month of June, I gave my 10% today to Make-A-Wish. I plan to do that each month on the 1st, 10% of gains to one of the charities I support. It will be fun when that amount is $2k or more :D:D
Iâm still flat, wanted some sleep last night w/o alerts going off & she does not seem to have decided on a clear direction yet. Rrram says up by weeks end, Jeb votes down & Andrewâs IKH analytics are mixed.
I guess we will just have to await her pleasure, as usual.
I called it but went back to bed and am still losing GJ pips being held up with this NJ &@#$%(^@#%@#%&%&*@#!!!
I think I may be good enough to start swing trading GJ. This means I would use a tight stop loss order, and hell play maybe $100 a pip so I can start making 10K/day. It seems to many things in life take too much time related to the pursuit of money.
So last night I would have bought around 210.80 and held it until 212.00,
we got that high I think. MY trouble is getting away from my scalping nature. I am always trying to scalp something, but really now I can swing trade GJ so that is coming.
I have tried to share how I do it, (predict) GJ highs and lows and reversal points and what not. I do rely on Canldes, too much it seems as that is not a primary indicator just a guide when normally needs further confirmation.
So maybe I will make the transition into pro trader, Not like I havent been watching her, following her, and chasing her all over the north pole and south pole and everywhere in between.
UP to this point I have played it pretty safe in my life. Now I am getting older and instead of getting less risky, it looks like I must become very risky,
but it wont be that risky! I promise tight SLâs on swing trades with NO drawndown.