GBP/JPY - Page 212

cool_fx · #**3166** (**permalink**) 11-04-2009, 10:46 PM

Quote:

Originally Posted by JoeyChee

i don't understand, why so far away? like when the GDP news was released, it jumped 100 pips in 5 minutes. shouldn't 50 pips be enough to confirm the direction? i'm trying to go in the right direction minutes after the news is out, and since i can't tell if the news will bring the pair up or down i'm planning to do pending order on both directions. Of course, GDP news will have a direct good(up) or bad(down) impact, so I probably don't even have to place pending order that far away. but rate decision is estimated to be the same so i need 50 pips to confirm the direction, but then again it depends on resistance and support too, like FOMC came out the same so the 1 hour post event is a hot mess. Oh i'm so confused.

Would you tell me how you are reacting to this news release please?

there is lot of betting on this news bro. some say that if lower rates more or show QE then GBP will sink. and if they increase rates or give good news then GBP will fly.

its not mixed up like USD rate decision. GBP rate decision is faily simple to play.

well 50 pips is also good. but make sure ur stops are huge coz the pair loooves to swing.

JoeyChee · #**3167** (**permalink**) 11-04-2009, 10:50 PM

Quote:

Originally Posted by kcooperj

I would STRONGLY advise u to keep at least 100 pips. Today's FOMC I did 50 pips away ( Buy order at 151.25 and Sell order at 150.25 when prices were hovering at 150.7-150.8), and got burned instead, cancelling out each other for an expensive price of 100 pips (which could have been a quick profit). An expensive lesson for me and hope you would not need to learn with such expense hehe. For me I would stay at the sidelines and straight away keep a very tight stop just in case something like today happens again. But yeah should you be wanting to enter the trade asap den I would say 100 pips the safest, and take a quick profit if you feel insecure. Don't be greedy hehe.

T.T. that happened to me too. luckily my stop loss was tight, just 20 pips away. my theory being if it jumps it wouldn't look back. If it does, it is not jumping. but 20 pips is not little to a newbie like me who has loss quite a lot in the pass 2 weeks and MISSING ALL THE JUMPS like GDP thinking i have enough time to enter so i happily thought that i don't need a pending order if i sit tight in front of my comp. T.T. a tough beginning for me.

kcooperj · #**3168** (**permalink**) 11-04-2009, 10:51 PM

Quote:

Originally Posted by cool_fx

hey bro. i changed my mind. im keeping them open. it just broke the last support. i feel 147.90 or 148.20 area shud be touched.

but for sure i will be out bfore an hr of BOE decision.

What was the support? I'll want to make sure the candlestick closes below the support before making any moves. I already took most of my profits and leaving just few lots. 5min stochs and RSI suggest an upside might be in place. Hourly stochs also show there might be an upside...Would den enter again perhaps before I sleep, but will wake up by BOE news.

Abhishek · #**3169** (**permalink**) 11-04-2009, 10:54 PM

Quote:

Originally Posted by cool_fx

aah welcome bro. how is ur job. so when r u coming back to trade?

Job is good.....busy with a few projects and some business travel. I have not been able to trade since I flew from Ireland. Actually, on talking with a few friends at work, looks like even they are getting quite interested, would be nice to have more people.....more the views better we can analyze

JoeyChee · #**3170** (**permalink**) 11-04-2009, 10:56 PM

Quote:

Originally Posted by kcooperj

I would STRONGLY advise u to keep at least 100 pips. Today's FOMC I did 50 pips away ( Buy order at 151.25 and Sell order at 150.25 when prices were hovering at 150.7-150.8), and got burned instead, cancelling out each other for an expensive price of 100 pips (which could have been a quick profit). An expensive lesson for me and hope you would not need to learn with such expense hehe. For me I would stay at the sidelines and straight away keep a very tight stop just in case something like today happens again. But yeah should you be wanting to enter the trade asap den I would say 100 pips the safest, and take a quick profit if you feel insecure. Don't be greedy hehe.

oh crap i am missing the point here complaining too much. The thing is, i've looked at the pass when rate decision is released and geppy 1 hour post event is merely 100 pips max, the hour after that doesn't go in the same direction anymore, not 100% i mean, so i'm lost.

I think i have to switch to trading cable 1st, too much swing for a newbie.

VINCY BALBOA · #**3171** (**permalink**) 11-04-2009, 11:00 PM

Quote:

Originally Posted by cool_fx

bro it didnt run. i tried in my stratergy tester. it just wnt run. i tried for uj, gu, etc. it just wnt run :-(

first if you downloaded the MT4,,,,,

so might be you uploaded your Mt4 to C/..

so in your C/ go to your Broker of mt4..

there were expert file..

in this there were an indicator..

so Past that Mt4 ex4 file..

then RESTART YOUR MT4...

RESTART..

then

open again .. so see add inides from here

u done

cheer vib

VINCY BALBOA · #**3172** (**permalink**) 11-04-2009, 11:02 PM

Quote:

Originally Posted by Abhishek

Job is good.....busy with a few projects and some business travel. I have not been able to trade since I flew from Ireland. Actually, on talking with a few friends at work, looks like even they are getting quite interested, would be nice to have more people.....more the views better we can analyze

cool Ireland an all ..

you have a tour Vacation...

that a dream job

welcome

cheer vib

Abhishek · #**3173** (**permalink**) 11-04-2009, 11:19 PM

Quote:

Originally Posted by VINCY BALBOA

cool Ireland an all ..

you have a tour Vacation...

that a dream job

welcome

cheer vib

How u doing vincy? making 'moolah'??

haha...man, but it can sometimes get hectic.....can't trade with that much work in hands....hope to get some free time soon, so i can join you guys back again.....

VINCY BALBOA · #**3174** (**permalink**) 11-04-2009, 11:26 PM

Quote:

Originally Posted by Abhishek

How u doing vincy? making 'moolah'??

haha...man, but it can sometimes get hectic.....can't trade with that much work in hands....hope to get some free time soon, so i can join you guys back again.....

haha yeah.. i am moolah banao at the age of 14

see child hood vincy

kcooperj · #**3175** (**permalink**) 11-05-2009, 12:56 AM

I would expect a retracement up to 150s before resuming down.

Tradeplan: Short from 150 with SL at 150.75 and/or Short from 148.8 at breakout.

cj forex · #**3176** (**permalink**) 11-05-2009, 01:11 AM

Quote:

Originally Posted by VINCY BALBOA

first if you downloaded the MT4,,,,,

so might be you uploaded your Mt4 to C/..
cheer vib

hi vincy

thanks for the instructions... i got it working with MT4. It look great+..

cool_fx · #**3177** (**permalink**) 11-05-2009, 01:30 AM

Quote:

Originally Posted by cj forex

hi vincy

thanks for the instructions... i got it working with MT4. It look great+..

hey CJ. were u able to do Stratergy testing on it. i saw MM and MQ4 etc on my expert list but when i say it to test. it doesnt do anything. plz lemme knw if it works for u.

wan0903 · #**3178** (**permalink**) 11-05-2009, 01:30 AM

hye guys...

not have much time to get with all of u.. btw, i plan to long at 150.50 and target at 153.15 (my today R3) or maintain previous short and target 146.50 (my today S3)...

happy trading to all

cool_fx · #**3179** (**permalink**) 11-05-2009, 01:46 AM

ho ho v just broke 149 and now in 148s.

kcooperj · #**3180** (**permalink**) 11-05-2009, 01:51 AM

Quote:

Originally Posted by cool_fx

ho ho v just broke 149 and now in 148s.

ahh i did not see the break...but i just shorted at 148.9. Don't know if it's a bright move or not.