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Gbp/jpy

Discussion in 'Personal Trade Journals' started by SwingTrader1, Jul 6, 2010.

  1. SwingTrader1

    SwingTrader1 Recruit

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    I was looking at the GBP/JPY a little while ago.
    It looks like it may be headed for a small tumble down.
    This might be a good opportunity to short it.
    Maybe pick up a few pips. I think by 17:00 pst I should have a better idea of how this pair is shaping up.
    See you then.

    19:03 pst
    Sorry Im late not too worry though. The way the GBP/JPY is going it looks like it might be another day or so before all my ducks line up. I am going to check tomorrow 0500 Remember patience is the name of the game here. I want what I want and Im willing to wait. Everythings gotta line up or Im passing.
    See you tomorrow bright and early, at least for some of us.
     
    #1 SwingTrader1, Jul 6, 2010
    Last edited: Jul 6, 2010
  2. SwingTrader1

    SwingTrader1 Recruit

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    No trade setup

    GBP/JPY
    I didnt get what I wanted so I pass.

    To me this sucks, I like to trade however I hate to lose so I would rather wait even when a trade looks "almost". I have found its better to stand aside. There are many other good trades on the horizon.

    Anyway chin up! I have my eye on some other pairs that look promising to me. I will share one with the readers of forexpeacearmy when they setup.
     
  3. SwingTrader1

    SwingTrader1 Recruit

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    Aud/cad

    I like the AUD/CAD this pair is setting up real nice. Im going for it.
    Here is my strategy.
    Sell the AUD/CAD on an entry limit.
    The price I want to sell at is .9256
    the stop is .9285
    the limit is .8000
    These are the kind of trades I really like. Risk is very small, with the broker I use its 29 pips.
    The profit potential on this trade could be as much as 12 cents. I dont expect anyone to take the trade because Im new here and I havent proven myself with a track record. So hey just keep an eye on it and see what happens. I think this one is going to be fun!
     
    #3 SwingTrader1, Jul 7, 2010
    Last edited: Jul 8, 2010

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