is preparing...
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G/J: Big move back northward, especially in the last 20 minutes. Could we hit 138+?
I'm riding it, and hoping so!
There's already one for the Beast (GBP/JPY). Not sure anyone even uses it anymore.
http://investorshub.advfn.com/boards/board.aspx?board_id=12139
OR, we could simply start our messages here with prefixes, like:
"EU:"
"GP:"
etc.
Correct. /eom
GBP/JPY...also known as the Beast !
Well, I guess G/J wasn't as reliable as I thought, last night. Didn't get stopped out, but it was really scary there, for a while. This morning's rally is a welcome sight. :P
My SL is currently profitable, so I'm riding the climb for as long as the rise continues.
My 30-min setup shows us deep within the Kumo...if we hit the top of the Kumo in the next hour or two, we'll be flirting with 142.00. Let's do it...please? ;)
I played with fire trying to go long last night. This morning's G/J rally was my saving grace. Still riding it now...inching my SL upward.
SL guaranteeing 70-ish pips. Price action currently showing 140-ish pips profit.
Yeah, whipsaw was the name of the game, today. :\ Still managed to eek out a profit, so that's great. Working on a few more pips, right now. It's looking a bit more stable/reliable now. We'll see what happens!
I see that. Thank you much...it's A-OK!
Certainly could be a liquidity issue...especially since they 'officially' announced the R word, today. ;)
LOL. Beasting away, here. Doing so-so...been a bit erratic this afternoon.
Too bad I missed the early morning action....wow what a move!
Congrats! Keep it up!
Sure does...I'm hanging out for a more definite move. Still leery of jumping in too early....in either direction. :P
He means this guy (abcdefg): http://investorshub.advfn.com/boards/profile.asp?user=124044
You sure? I don't see him in the board's banned list, nor is he in jail. His profile also doesn't have the "Terminated" icon, either.
What else could've possibly happened?
ST or SG: For mine, you can remove the "3 hour time frame," as I change that, depending on how much time I can devote to babysitting my trades (quick scalp vs. several-hour trade).
In addition, I thought I'd add what I look for while going long in my setup (the exact opposite will happen when I prepare to go short):
1. MA on the Willie to begin curling upward from beneath the -50 (bottom yellow circle).
2. +DI crosses above -DI, plus the ADX crosses above its MA (middle yellow circle).
3. Tenkan-Sen will rise and cross above Kijun-Sen (white line crosses above red line) (top yellow circle).
4. Once my trade is profitable by 20 pips, or so (fewer pips in shorter timeframes), I'll put my Stop Loss at breakeven. I get stopped out a little more than I'd like, but I have far fewer losing trades.
5. As the trade rises, I'll periodically move my stop loss up so that it's a reasonable distance below the Tenkan-Sen (white line)...sometimes even below the Kijun-Sen (red line) if I'm looking at longer timeframes, or if it's near a resistance level....just to allow for a bit of head-banging against that level.
6. All the while, I check the lines and cloud on other adjacent timeframes to keep an eye out for support and resistance levels.
7. Notice that the Williams bounces off its MA as the price rises (right after the bottom yellow circle). Once it begins to whipsaw above and below the MA, I prepare for an exit and raise my SL even closer to the price (still keeping it below the Tenkan-Sen).
8. Either of these signals will tell me to exit...or move my SL up to the Tenkan-Sen: The -DI crosses back above the +DI and/or the Willie's MA curls downward...notice that both occur around the time that the price falls below the Tenkan-Sen (red circle).
Chart:
That goal is more than possible. My account has gone up 380% since October 31st (26 days). Granted, this sub-account was started with $2.50, but imagine if I had started with 5,000.00? ;)
I had a practice account for 6+ months before I started playing with real money, so patience and practice are key.
Best of luck!
Riding the Beast upward, this morning. Wow!
Ah, yeah. That's definitely a good rule...especially on the Beast.
I don't leave the computer unless I'm either flat, or have both a profitable SL and TP level set.
I'm all out now, too....Friday's after noon can get crazy and I don't want to ruin the nice profits from this morning. Account up 25% on 2 trades...great way to start the weekend! ;)
I'm out of FOREX for the day (since Friday's can get crazy after noon EST), but I had fun shorting the Beast this morning. My fave, due to its big moves.
Do work on holding longer, as I think you'll enjoy the rewards.
Hope you're still shorting the Beast. Still plenty of movement! Yay for pips! ;)
Your family is in my thoughts. Take care!
Indeed! I think that's the main reason they call it the Beast...because it disrespects many of the standard indicators (no predictable hesitations or reversals, etc.).
My thought is that if I can (at least somewhat) learn the Beast, then when I move to other currencies, it should be "easier" to play with a more predictable pair....one that respects trendlines, and such, in a way that is expected.
Right now, trading the Beast with the Ichi Cloud reminds me of the cartoons where some character falls off a building. They crash through a few window awnings (the Ichi lines) and suddenly bounce off the very next one to go flying back upward again. Or vice versa... ;)
No worries. I was able to get out at a reasonable level. It's almost all back, now, so I'm happy about that.
I hadn't heard what caused it to fall, but I don't doubt that that was the cause!
The Beast is my fave! I've made a bit (and lost a bit) with that puppy. Trade with care, and good luck! ;)
You bet it would've been! Problem is, I went long right before the fall, yesterday. Continuing to recoup, now.
Hindsight is 20/20. :\
Yes they are. I'm stuck in the Beast now. Waiting to go profitable so that I could throw in a Stop Loss. Well, it never went profitable. Grr...
I did that too, yesterday. The Beast wiped out 2 days of profits for me.
Being 28, I don't want it consuming my life much, either. It's tough because it's addictive...especially when you're on a roll! But that's also when I start making dumb moves....not thinking things through, beforehand.
It's all about control and restraint. But not spending too much time away from the computer, if you have an open trade. Set stop loss and take profit levels if you're going to be away from the computer for a while. You never know when the Beast will retrace and wipe you out. What I like to do is wait until I'm 20+ pips into profit, then set my SL at breakeven. Then slowly move my SL into more profit along with price action, but never setting it below breakeven. Even though I get stopped out a lot, I rarely lose money on a trade (clearly I should have taken my own advice yesterday).
If I start having a bad day, regardless of how early it is, I close FOREX until the next day.
Hope to still see you around!
Thanks for the update.
You still bullish on the Beast? It was looking good this morning (200 pips north in 30 minutes and breaking north of the ascending triangle's resistance level), but it all broke down around 10:30...trading lower and lower, finally even breaking support of the ascending triangle that started on 11/13.
Just curious if you're seeing the same bad chart signals that I am.
He will. The PR stated (emphasis added by me):
Bill White, VP of Sales and Operations, states, "...we will not be releasing the names of the attendees as they've requested to remain as confidential at this time; however we can release that we will be demonstrating the product to decision makers from large corporations that transact business internationally and that they all have trading symbols on the New York Stock Exchange and we will be releasing statements from attendees within a few days of the lab demo on Thursday."
I drove by both locations over the weekend, and neither had any cars in the parking lot. So, if they're not working on the weekends (which is expected and normal), then it's unfair IMO to count the weekend days in the "within a few days" time frame that Bill mentioned. Give it until the end of the week. Patience.
Confirmed in my Schwab streamer, too!
Wow! Thanks for the heads-up!
Looking forward to trading it this week.
Still in testing...but with my limited time, I'm looking for longer term setups vs. quick scalping techniques. I like trading The Beast, and have done fairly well with this setup, this past week:
Looking at 3-hour timeframe
Heiken-Ashi Candles
Ichimoku Cloud (9, 26, 52)
ADX(9) with WMA(5) overlay
Williams %R(26) with WMA(10) overlay
The ADX and Willie are carry-overs from other shorter-term setups, but still do fairly well.
Will give this setup another week before modifying or replacing it.
Definitely. I can provide direct links to a mod, if that's what they want...just let me know!
Here are some pictures of both locations. Weather was lousy, today.
Enzyme Solutions at 7601 Honeywell:
Sign and Mailbox:
Sign:
Building (they occupy the left half of the building, it seems...the right-half is some Precision Machining company, which may be abandoned. I couldn't tell):
The only window on their side that had the blinds open:
----------------------------------------
Enzyme Environmental Solutions at 6020 Huguenard:
Building (it appears that Action Coach Business Academy is no longer there. Their awning sign is gone!):
Building:
Understood. As always, I appreciate the work that you and your team do! Looking forward to hearing more about this tool. :)
Thanks for providing that, Ken! Is there a post or a page that describe what this data represents?
Yup, I remember that call of 180. Looking at the chart, I believe it! Just completed a double bottom, and the next major consolidation level north of us is the high 170's (last seen in mid-October).
Can't wait ! btw, I switched to your 2-hour chart (well, actually 3-hour, because Oanda doesn't offer a 2-hour chart), but wow the results were immediate! Thank you much for that tip!
Definitely! I've been following this board for quite a while...just haven't had a lot of time to put things into practice.
Lately I've had more, and I'm glad I've given FOREX a look. You're right about getting caught up in the story. It's a dangerous thing! FOREX is a welcome change from that!
No worries. I'm playing around with a sub-account of only $2.50 (real money) before I add a decent amount of capital. That way I can trade with 'real money' without getting too stressed about how much I'm gaining or losing...not letting my profit/loss influence my decision-making. My gains these past 3 days (70%-ish) were barely $2! LOL!
I'm learning a lot, though....and lovin' that Ichi Cloud!
I tried trading the Beast today, too, and noticed the same thing. I gave up around 2pm with a fair profit, but would've been better had the direction been more clear.
I agree it'll continue up...just needs to spend a bit more time jerkin' around in the 140's.