GBP/JPY Trading 2008

Discussion in 'Forex' started by ForexPro, Jan 1, 2008.

  1. Thought i'd start off the new thread.

    Here's to a profitable 2008.

  2. 1/1/2007

    Didn't close the short (from 227.43) for the holiday closure.

    This week should be a wild ride - low liquidity and lots of report volitility.

    Good trading to all the New Year.
  3. Lets kick this thread off. I had a lot of trades today, but with such volatility i didnt post any as they were quick scalps.

    Short 217.29 tp 213.64 st 219.29.
  4. Still short from 227.43. Currently +1032 pips. Been in a range (217.40 - 216.40) for almost 12 hours and one by one exit conditions are being met. Looks like a test of 217.40 as I type. I think I might preempt the ATS and take 1/3 - 1/2 off the table before London open inspite of the fact that it looks like it may break out further downward. I don't want to be a pig. We'll see. Looks like one of those nights where I turn up the speakers to hear the alerts from the ATS.

    What else do you trade? Perhaps other threads are in order.
  5. We could see U/J at 105 by midday Fri if we get a bad NFP. U/J 105= 210-208 G/J?

    I expect to see any rally get smashed and for us to stay w/i this 100-125pip range until London session.
  6. Although it is unlikely this question was directed at me, I will take the liberty to say that I trade currencies only (the all major yens, EU, cable, and USDCHF). I am highly leveraged at 500:1 but my spreads are ridiculous.

    I was scalping more towards the end of 07 but it created way too much stress that I simply will not be able to handle anymore with the obligations I am about to face here shortly, not to mention my incredibly high spreads.

    It looks like these 1000+ pip moves might not be too uncommon here over the first quarter.

    What else do you trade?
  7. I am quite omnivorous so i trade currencies mostly GU & GJ, equities and equity options. Equities and options for more long term positions. Currencies for shorter term speculation.

    How many lots do you trade mrfrank. I just would have to take some profit even if i 1000 pips up.
  8. Tp hit at 213.64. +365 pips. A great start to 2008.
  9. Shorting again after a 300pip rebound. Tight stop this time.

    216.52 short 217.2st 214.5tp
  10. Yeah not bad. I am playing the usd/jpy it moves more depictly for me.
    #10     Jan 3, 2008