Thread: Discuss USD/JPY, GBP/JPY, and other JPY Pairs

Originally Posted by wan0903

Hye cool...

GU ?... in H4 TF, it still in retracement zone.. 61.8 fibo stand at 15636 and 50 fibo at 15588 to complete wave 2... im trade this pair for a longer term.. so i will wait at either level to go short depend on market condition later..

add :- short heavily au at 9060, short eu at 13670 and cool, i short gu at 15570...

will let it play untill GBP news..

Come on Im dying to know - have you rode these down to the bottom?
You must of made a killing.!!

Hey everyone. New guy here.

Got 80 pts on my short this morning and decided to wait and see what happens before entering again. I have been waiting for that break and watching for it like a hawk. And i totally missed it because i was away from my comp for awhile.

Would placing a pending order say 30 or 40 pips below the break be advisable in the future??

Btw watching your posts is very helpful. I thank everyone who posts consistently for all the input. It really helps me to hold off on my adhd impulses and stick to taking fewer, smarter trades. Thanks all, hope i can give back and bounce ideas around with guys.

Originally Posted by brad_1199

After GBP/JPY has bounced from prior support, price action still finds itself confined to a medium term descending channel.. If price continues to stay inside the channel watch for a break lower towards long term fibonacci support at 128.42 ---

Daily Chart ------->

chart update ----> GBP/JPY DAILY CHART --->

The down trend on the daily chart appears to be intact... Price is heading for a test of 128.42 fibonacci support ...

Originally Posted by Kelevra

Hey everyone. New guy here.

Got 80 pts on my short this morning and decided to wait and see what happens before entering again. I have been waiting for that break and watching for it like a hawk. And i totally missed it because i was away from my comp for awhile.

Would placing a pending order say 30 or 40 pips below the break be advisable in the future??

Btw watching your posts is very helpful. I thank everyone who posts consistently for all the input. It really helps me to hold off on my adhd impulses and stick to taking fewer, smarter trades. Thanks all, hope i can give back and bounce ideas around with guys.

Hi and welcome
Totaly agree that this forum helps, though some have said that it hinders there performance. I think the important thing is to have your plan and then use this forum as a cross reference, its always nice to see what others are doing and if 6 other traders share the same/different view it gives you something else to digest.
Last night for example I shorted because price rebounded off the upper trend line so I entered there, 10 mins later Nahagan pointed out the descending triangle ( embarrassing to admit I never even noticed it) so it gave me a little more confidence to add further shorts.
My problem, and i sense a few other traders suffer the same fate, is the Exit levels, I closed the majority of my positions way too early. As for missing the oppurtunity, others will present them selves but its awful when you have been watching the screen for hours and then get called a way only to miss the big one. The only time that happens to me these days is when im sleeping as i do this full time now.
As for putting a PO below the support line, i had one there and it obviously worked well, I suppose it depends on how you percieve your self as a trader, Aggresive (get in there at the first sign) or Cautious (wait for confirmation) i dont think there is right or wrong. For me if im shorting 10 lots i would put 5 at the first sign and the other 5 on further confirmation. But hey - im still learning and am not qualified to give advice. There are some great traders here for us both to learn from.
Dont forget all - Bernanke is speaking tomorrow plus a basket full of other data coming out.

OH and im out of my impulsive Long for 9 pip profit. Got carried away again.

Good luck - sorry for the essay, im sure youve already learnt its a trait of mine.

Anyone heard from 4XER - he was a good contributor.

Hi guys, I'm sidelines for now but I have a pending long order at 138.25, targeting a rebound towards 140.60.


But It's always funny to see how fundamentals ( bad UK news here) and technicals (breakout descending triangle here) collide at the same time to give a unique result.

Originally Posted by Kelevra

Hey everyone. New guy here.

Would placing a pending order say 30 or 40 pips below the break be advisable in the future??

I had an order set at 140.65 which was about 20 pips off the previous days low
but that was actually near the lows of the beginning of the previous week.
Which has given me about 170 pips so far. Now I'll move my s/l... not sure where to yet. I need to get some food and refreshments before I attempt to do any trading.

Originally Posted by skydiver

Hi and welcome

My problem, and i sense a few other traders suffer the same fate, is the Exit levels, I closed the majority of my positions way too early.
As for missing the oppurtunity, others will present them selves but its awful when you have been watching the screen for hours and then get called a way only to miss the big one. The only time that happens to me these days is when im sleeping as i do this full time now.

I was the opposite, I would tend to close too late hoping for it to become a bigger trade, but I was losing more than winning. With the small trades I was doing, it didn't seem like much, but it did add up. Now that I'm progressing to more lots, I've been much more cautious and know that even the smaller trades, add up.

Missing opportunities... I try to stay up till London openings, when most of the good trades happen, but that's the wee hours of the morning here and I try to get out off bed by 8:00 NY EST.

Originally Posted by travelin' man

I was the opposite, I would tend to close too late hoping for it to become a bigger trade, but I was losing more than winning. With the small trades I was doing, it didn't seem like much, but it did add up. Now that I'm progressing to more lots, I've been much more cautious and know that even the smaller trades, add up.

Missing opportunities... I try to stay up till London openings, when most of the good trades happen, but that's the wee hours of the morning here and I try to get out off bed by 8:00 NY EST.

Yep - better too early than late and youre right those small pips add up very quickly. I made 14 trades yesterday, 12 of them were correct 2 were wrong (all on this pair but 1) on most of them i was only taking between 8 -15 pips, a year ago i would of scoffed at the idea but you know what it now makes sense because it actualy adds up to a reasonable hourly rate for me. Today i think ive made roughly 7 trades all of them were right my smallest profit was 9 pips, largest 120 pips and the remaining on average 50 pips. I think the secret is to be able to recognise true volume and strength. Any profit is worth celebrating! I know i over trade and its something i struggle to curb so what i have done is reduced my lot sizes to compensate for it, im incapabable of trading 1 of 10 so i trade 10 of 1 - does that make sense?

Originally Posted by skydiver

I know i over trade and its something i struggle to curb so what i have done is reduced my lot sizes to compensate for it, im incapabable of trading 1 of 10 so i trade 10 of 1 - does that make sense?

I've had a few days like that, but I try to refrain from over trading because when I'm here, at my desk, I'm usually trying to run my business... that's where the money is, for now. :-)

Originally Posted by skydiver

Come on Im dying to know - have you rode these down to the bottom?
You must of made a killing.!!

morning guys....

just wake up...

.. .... sky... almost closed all at the bottom... closed my GJ at my yesterday last target at 13918 (4236 fibo), gu at 15400, eu at 13500, au at 8890 and overall pips for yesterday is about 1623 pips.... huhu.....

will sideline untill it clear again...

take care guys...

have a good trading day bcoz it is wednesday..

Originally Posted by wan0903

morning guys....

just wake up...

.. .... sky... almost closed all at the bottom... closed my GJ at my yesterday last target at 13918 (4236 fibo), gu at 15400, eu at 13500, au at 8890 and overall pips for yesterday is about 1623 pips.... huhu.....

will sideline untill it clear again... im really happy bcoz i got almost 120K usd yesterday...

take care guys...

have a good trading day bcoz it is wednesday..

WOW!
There is a new rule for this forum where all winnings have to be divided amongst each other Wan....havent you heard? Lol

Originally Posted by skydiver

WOW!
There is a new rule for this forum where all winnings have to be divided amongst each other Wan....havent you heard? Lol

haha... .. everyone is winner here.. .. again, you will get it when u get the real touch of trading...

anyway..

this is today number..

p - 139869
r1-140990, r2-141683, r3-142804
s1-138748, s2-138055, s3-136934

PM me if u guys want to know about my envelopes (blue and red line in my chart)..

happy trading and will update later

Originally Posted by cool_fx

bro whats your opinion on GBPUSD? I shorted at 1.5520 (todays R1). Stop is at 1.56 area to target 1.5360

DUDE!! We almost did the exact same trade - I went short at $1.5500 and got out at $1.5441 for a cool $590

Originally Posted by keforex

DUDE!! We almost did the exact same trade - I went short at $1.5500 and got out at $1.5441 for a cool $590

lol awesome bro. I actually ended up repeating twice moolah.

in early morning it hit my target. then it went up to 1.5460 and there i shorted again and closed again at 1.5408. lol im sooo happy. Doesnt it feeeeel awwwwwwsome to take out money right on tuesday itself with 4 more awesome days to play. lol now im playing all relaxed and patiently. he he

At this moment iam pretty confused. I shorted GU at 1.5456 just now for fun.

but GBPJPY iam totally clueless. i made moolah last night. but now its at significant support. i guess i will short once 138 is clearly broken. Entry orders are waiting at 143 and 141.

lemme know what you guys are planning. since we all made sweeet moolah too early in the week. i hope everyone is excersing caution and patience and not jumping in ;-)

Originally Posted by cool_fx

lol awesome bro. I actually ended up repeating twice moolah.

in early morning it hit my target. then it went up to 1.5460 and there i shorted again and closed again at 1.5408. lol im sooo happy. Doesnt it feeeeel awwwwwwsome to take out money right on tuesday itself with 4 more awesome days to play. lol now im playing all relaxed and patiently. he he

At this moment iam pretty confused. I shorted GU at 1.5456 just now for fun.

but GBPJPY iam totally clueless. i made moolah last night. but now its at significant support. i guess i will short once 138 is clearly broken. Entry orders are waiting at 143 and 141.

lemme know what you guys are planning. since we all made sweeet moolah too early in the week. i hope everyone is excersing caution and patience and not jumping in ;-)

hye cool...

nice trade ar?.. ..

i'm in sideline now for geppy... for me, it's still flat.. my PO to short stand at 14130 and will short manually when it clear.. it might retest 13990 before going down.. or maybe can pass it till 141 levell..

just watch what they want to do..

have a good trading day.. see ya in London Open