nanningbob wrote:

Chris wrote:

Staedtler wrote:since the GBPJPY moves so dramatically, what would be a logical distance to set a pending order ?

Currently I am only targeting DR2 but WR1 would be a nice 300 pip move, I am kind of expecting a real retracement so I am a little shy try to get to far. This is just one mans opinion.

There really is no thinking with JPY crosses right now. I find any line I can find and set a pending order. Then I find another. Whether on 10.4 10.5 or previous week I am setting orders. I have even gone to my screen and just put a buy on for the heck of it. This is a fundamental Marcro economic move. No thinking is needed. Just jump on and run with it. Until someone thinks JPY is a buy, who that is I dont know, I am going to ride this puppy. The Big boys are in and they are no wheres near closing their trades yet. So I am going to run with it until it stops.

Why fear a retracement, just add to your positions when it happens. That is how the big boys trade.

nanningbob wrote:

Chris wrote:

Staedtler wrote:since the GBPJPY moves so dramatically, what would be a logical distance to set a pending order ?

Currently I am only targeting DR2 but WR1 would be a nice 300 pip move, I am kind of expecting a real retracement so I am a little shy try to get to far. This is just one mans opinion.

There really is no thinking with JPY crosses right now. I find any line I can find and set a pending order.

SteveHopwood wrote: Ok, just taken out a GJ buy in response to this and promise to sit on my hands.

Guys, if I muck around with this trade, then please find a way to Admin status here and ban me from my own forum.

* Hands firmly sat upon *

SteveHopwood wrote:Guys, if I muck around with this trade, then please find a way to Admin status here and ban me from my own forum.

nanningbob wrote:Ok, Had a great day yesterday over 1000 pips in one day. However a lot of that was garnered by keeping JPY cross trades going over the weekend and over 650 of those pips were the gaps. But still 7% increase of the account is a nice surprise. I have not kept up my lot size with growth of my account so fixed that today.

I have a buy on every JPY cross going at all times and new ones set above every high and a limit order set below in case of a retrace. No retracement yet. No one is buying JPY right now and I am keeping one or two trades on every pair until it does.

OK GBP picked up some nice retracements but they are showing good setups on 10.4 so gbp/aud, gbp/cad, gbp/usd I have buy pendings at each WP and DP.

I still have my pending sells going on eur/nzd.

Happy trading. This is fun.

garyfritz wrote:All right gents, I really apologize. I decided it was time to put some real money onto these runaway JPY pairs. I waited for a bit of a pullback and then got in when it resumed its upward march.

Which then promptly reversed. Naturally. Anyone who had just entered a position, I apologize. Anyone who was looking for a pullback to enter, you're welcome.