I have a bad feeling about all of this. Might have to look to trading index futures and stocks soon I am really irritated by the US administration. (and I don't even live in USA) Their changing of laws that apply to retail forex in the US will ...

Could 10:1 be the new leverage in US Forex?

Thanks for your detailed response Mike. I'm new to this thread and see that there is so much information to go through. Cheers Altrader

james16 Chart Thread

How to handle this situation — I'm just wondering if someone could please have a lot at the image below and try to see how to handle this conflict of signals and how the James16 method would deal with it.

james16 Chart Thread

lol, although that was like skiing off a cliff..the fall was so large. But we expect that type of thing from the GBP/JPY. Nice pips to you

Auslanco - GBP/JPY and GBP/USD (newstrade)

when price wants to move...it moves....whoosh.

Auslanco - GBP/JPY and GBP/USD (newstrade)

great thread. testing ideas now. will report back.

Jankone M5 thread

what course did you do at uni? I'm thinking of getting a part time job. I'm in Brissy.

Auslanco - GBP/JPY and GBP/USD (newstrade)

some nice money there

Auslanco - GBP/JPY and GBP/USD (newstrade)

basic analysis.

Auslanco - GBP/JPY and GBP/USD (newstrade)

In my experience, it is generally a bad idea to trade on days with interest rate announcements etc or big news. Price can go anywhere in a hurry. No stop loss on the gpb/jpy can decimate a trading account very quickly.

Auslanco - GBP/JPY and GBP/USD (newstrade)

That's right. It shot up and so every other tom dick and harry jumped in as well. What's the bet this thing drops like a rock within the next hour or so?

Auslanco - GBP/JPY and GBP/USD (newstrade)

Yeah, hahahah... Markets are so stupid sometimes I think...I mean, it's still bad news but it rallies. Oh well, markets are always right.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Good that he made some nice pips I agree with you and am counting on it since I'm currently in a trade. I'm a bit close o my stop-loss now. I won't be moving my stop. Rules are rules. I'm in an AUD/JPY trade but the chart pattern is essentially ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

I came close to that at +48pips on the AUD/JPY. Good trade all around

Auslanco - GBP/JPY and GBP/USD (newstrade)

Well, it does give us the ability to enjoy other peoples company who share a common interest incidentally I am shorting the AUD/JPY a little bit at the moment. If I was trading the GBP/JPY I'd be shorting it also.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Different pair but still a jpy pair. I'm long on the AUD/JPY Entry= 82.59 StopLoss= 82.25 Take profit=83 It's a basic trade. Price has bounced off the 20 SMA. Sticking with trading the trend.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Wow, 150pip moves at luch time. I'm pretty new to trading the GBP/JPY pair. It is very wild as far as currencies go and what I've been used to. Previously I would mostly trade the EUR/USD which has been a bit of a snail for awhile now.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Yeah true there is that transition period definitely.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Good points Piters that I hadn't considered. I agree with you that if we are going down further then yeah a retrace up to around that 148 and slightly above would be a good place to go short if you believe markets will tumble down further. It will ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

I agree with you. But something bugs me about pure tech patterns sometimes. For example, we know that volume is low today just by virtue of the fact that Japan has a bank holiday. So we've basically seen only the Aussies pushing the market one way ...

Auslanco - GBP/JPY and GBP/USD (newstrade)