GBP/JPY Equity Building Profitable trading strategies

Trading Systems Free Forex Trading Systems
1825

I see - 8 hours ago would be considered the head, and the cluster around 213 from early 07/17 and the last few hours could be considered shoulders. There are some difficulties with that interpretation, though: namely that the apparent bullish reversal formation is occurring at a swing high, rather than a swing low as with the 07/15-07/17 formation. Without a downtrend to reverse, the likelihood of an inverse H&S forming is thin.

Similarly, though, there may be a double top forming on the 1H, especially on the Guppy and USD/JPY. The 1200 candle will tell.

1826

So I just opened the new account yesterday afternoon and when the market closed today I had bagged 355 pips…wow…not too shabby, eh?

If I was up all night it would have been more. The troll fell asleep a few times the GJ crossed the bridge without paying. Darn troll, he shouldn’t be sleeping!

Next week will be better. I wish I could just trade the guppy with this system instead of my other account…it is too stressful picking pairs to trade and then having them blast off in the wrong direction. With this system both directions are good!! Down is planting seeds, up is harvesting. A wonderfully positive experience.

I am going to really master this spreadsheet so I know when to hold off with the seed planting.

Has anyone come up with the idea to start the loss leader and buy limits down 100 pips or so below a specific high? Or below an MA of some sort? I still feel nervous setting the loss leader too high. Like right now seems a bit high to get in…feels like she might not come back here for a long while. I keep buying limits down…even from 213.70. Maybe I’ve missed some refinements since I haven’t read every single post—all the cloud cover stuff makes me go glassy eyed…although I think it is cool I wonder if people are using it to decide when they get in or out or whatever…thought this system was supposed to be simpler than that. Who knows…

1827

You can use my strat to only take long positions in guppy.

“M2P Contra Swing” in this section. You will only need to read the first few pages to know the strat. Reading any further is not required.

Guppy normally shows a signal once or twice a week. Sometimes more and sometimes she makes you wait up to two weeks.

I think I am going to try to incorporate fibo’s on a 4h or daily with my strat. If I like it, there will be more to come on how that works out.

1828

Sorry for being so dense, but where is it? You say “in this section.” ?? Sorry:confused:

1829

In the trading systems room.:slight_smile:

If you look right now, it will be directly under:
“GBP/JPY Equity Building Profitable trading strategies”

1830

And $600 of profits from the old NJ account were transfered over for trading GJ. WIth $6000 and microlots for now it going to be a long way to build up again. The last 10K pips I made took 10 weeks. That is hard trading when you only have $600 because you cannot fully space them as close as you would like too. In reality you really can space them every 10 if you have enough margin and are a good enough margin manager.

$560 will secure 18 1K NJ lots in the other account and I will basically forget about this 5600 pips of profit. That account if it stays the same and NJ doesnt go up and hit all thier TPS will double every year approximately.

So Now I will concentrate on GJ and wont even open that NJ account much.
Account is just a second account at fxsol. They were real smooth about the second account and transferring money from one account to the other.

I see I missed all sorts of GJ pips this afternoon! 211.50 was a nice place to get a boatload long :). I would have had a hard time with it though.
I would have been long from 212 and down into 211.50 and would have sold them by 212.29 for sure and I would have missed the next 100+ pips,
even if I was HERE!

1831

I will be back sunday sometimes. It was a good week and next week will be better. I did 3 service calls today and prolly drove 350 miles so I am tired.

1832

I look for denseness in an Alpaca it is an extremely important trait.
The denser they are the more fiber they produce. And at $60/lb it is far better to get 10 LBS off an animal instead of 4 or 5LBS. The denseist Males
bring big bucks. I have a unproven dam from a grandsire who sold at auction for 400,000 USD. I know people are crazy :slight_smile:

NO it wasnt my grandsire! I WISH! I would be studding him out for like 10K a pop or something unhead of.

1833

[B]“People rarely succeed unless they have fun in what they are doing.”[/B]

Dale Carnegie

1834

[B]“Always bear in mind that your own resolution to succeed is more important than any other one thing.”[/B]
Abraham Lincoln

1835

Pips, did you find M2P’s Contra Swing Strategy thread? It is in this forum, under The Holy Grails, under Free Forex Trading systems … should be near this one.

Happily I bought some guppy at 212.27, thinking to hold over the weekend, but set a profit exit at 212.67 just in case … and happily it was hit :slight_smile:
Next week looking good …

1836

And as a final thought, before the weekend…

[B]Go, Guppy, Go!!![/B]

:):):):slight_smile:

1837

[B][I][U]SHORT GUPPY SHORT!!![/U][/I][/B]:smiley:

Did I say that???:smiley:

1838

Next week will be very interesting, that’s for sure! The Guppy is knocking on the door of the highs made in January, retracing nearly 2200 pips of downside that bottomed out on March 17. Is this a corrective leg that is nearly exhausted, or only the beginning of a more extensive upward trend?

Off to see [I]The Dark Knight[/I] this evening - everyone have a great weekend!

1839

I want to go! I want to go! I want to go too!:slight_smile:

1840

Guppy’s gonna run into the 50 and 200 week EMA and the weekly downtrend’s resistance trendline all at once this upcoming week. Please fasten your seatbelts, and keep your arms inside the ride!

I think this next week will make or break Guppy, too bad I’m going on vacation this week d’oh! So I’ll be checking in on the aftermath, I hope at least one of you makes a small fortune in coming days…

1841

Good call. I see what you are saying. Thanks.:slight_smile:

1842

Here you are basically saying your draw is dependent more so on how many lots opened not leverage.

[B]The leverage is just the deposit needed for the open position[/B].
there is [B]no darkside[/B]
At the 100:1 if you only have [B]10[/B] positions(mini lots = pip value $1) open, you can afford 9000 pip fall ([B]900pips for each of the 10 position[/B]).
At 400:1 you have [B]40[/B] positions open, therefore you can afford same 9000 pip fall but only [B]244 pips for eachof the 40 positionposition[/B]
Big Difference:
The draw down is equal on all open positions as lot size is same and pip value same…only difference is deposit for the position. [B]
[/B]
say You have choosen to have 10 positions opened at 400:1, the only difference to the 100:1 being the deposit difference of 1000-250=750
[B]So you are $ 750 better off and only using 2.5% of margin at 400:1 to open the same amount of positions at 100:1 which is using 10%. [/B]
[B]There is no darkside to that[/B]

So at 400:1 then you have got an extra $750 of available margin to use in draw down if required.
Max Draw down 400:1 would be = 9750 pips for 10 positions 975 (100%margin used)
Max Draw down 100:1 would be = 9000 pips for 10 positions (100% margin used)

the margin% is floating once we open the position. Each pip is the same value. why have only 10 positions when you can play with 40 positions with the same margin. It is logical that you would make money or lose money quicker with 40 postions opposed to 10 positions. Leverage nothing to do with how many postions you choose to open… i would prefer to open 10 at 400:1 then 10 at 100:1 as you have more margin available, and you will profit the same on the same 10 positions regardless of the leverage used.

If you had [B]40[/B] lots opened at [B]100:1[/B] then your margin used would be $4000 deposit for the positions, therfore you would have $6000 available margin. ie 6000pips, 600/position.
if you had 40 lots open at 400:1 then your margin used would be $1000 ($25/position *40) …So have $9000 margin left, so can afford a 9000 pip fall.
900/position.

No magic to that. it is just the way it is.

Finally i could be at 10% margin used with one position open at 400:1 with one position open. it would be negative 1000pips could afford to drop another 9000 pips on that position.
It is not confusuing and there is no darkside!
it is just your deposit % for your position…Thats it!

1843

yeah…that’s pretty much what i said…

1844

You coudl get a loss leader here. OR
you could go short here. OR
you could wait to get in long LOWER.

Just looking at the chart. It is obvious to me that I could get a loss leader here and make it work. I could also go short and be patient and hold it and pay rollover if need be tomorrow. It is coming down for a retrace assured.

The smarter thing to do is to wait and get long in the dip.
It is all about the oil though. And with recent dips in oil you can count on a rebound back up in oil. As to weather or not oil affects G vs J remains to be seen.

Last fall I called at 212.00 to get in with a loss leader. So here certainly 211.50 can be in the cards for bottoom support, heck it may not get below 212.00 before we get the next leg up.

She could trick us alltogether and RUN up without a retrace. But my money long is not even getting in here with a loss leader. Nor is my money getting in short, although I am sure SHE is going to run down eventually at least to 213.00 which also may be a good place to get a loss leader.

The thing about the loss leader is that it gives you an interest in the market. After this your focus HAS to be to scale down widely at least initially to avoid TMTH.

FXSOL is having a contest for most %age equity increase. So I have set my account up with 600.00 minimum for the contest is 500. Obviously those at 500 have an advantage as it is easier to increase equity on a smaller amount than it is on a larger amount. Anyways enrollment is automatic and you have until August 8th to fund your account.

Also at fxsol if you refer a friend who opens an account and funds with $1000,
after so many RT trades you get a $150 referral fee. I have one of these in the works with someone NOT from here. I am not using this thread to gain referrals for fxsol, merely telling people so they can do it if they have friends outside of babypips that may be interested in forex.

I think everyone should trade forex :slight_smile: Forex is certainly more exciting than fixing broken networks, computers and whatever else people are always breaking and needing fixed. I sold my old refrigerator for $40!
Too bad the guy didnt come when we were only asking $20! It ewasn’t until we raised the price for the frig (to $50) on the newer craigslist-listing that he called. We gave him $10 for gas to come pick it up. :slight_smile:

So I say go short (CAREFULLY) or wait to get in at least down around 213.00 and hope the bus does not leave without you as: As sure as she will run down from here she will make a u-turn and run back up into 214.50/60
and from there it is wide open into like 216 or something. Once you pass 215,
she will really be burning some rubber. Anyways I need to draw some fibs LT MT and ST and wait and see how she acts at 4PM EDT when it opens here for me. If she is hung over she may just idle in the hummer. She may be angry and tear out North for all I know. Until she wakes up we will not know.

GJ180.zip (59.8 KB)