Casual 2000 pips boys

FX:GBPJPY   英镑/日元
Technically: rising wedge ( bearish )


JPY short positioning overextended
JPY safe haven in the event of equity downturn
GBP strength keeps inflation low - BoE will not hike
Brexit uncertainty remains
GBP positioning not overextended - room for shorts to build


Speculative market sentiment is very bearish yen; underestimating possibility of yen strength in case of events like August 2015
Sentiment is neutral/bullish GBP

Trade structure

Short at spot.
Add to position when wedge is broken.
Add to position every 100-200 pips of downside, trail stop to profit
Scale out at 130-125 yen
交易开始: 150 pips in the bag
Hmm... again 660-pips over 35 days averaging 19-pips/day with a 100-pip drawdown at start, and down to 320-pips by day 43... That's not a casual 2,000-pips - that's a very painfully low profit slow trade :-)
@rsam, lul i guess you make 2000 pips every week yh, why you still on tradingview instead of cruising on your yacht
rsam TanayUK
Well, I only started trading end of last year and make 20-50 pips on a good day (and lose twice as much on a bad day!) - and seriously, don't care for yachts - my cuz has been trying to get me onto his for 17 years, still haven't bothered to make it :-)
I didn't mean to offend you, the titles seemed a bit hyped up ;-)
@rsam, none taken, just that i hold trades like these for months-years :)
rsam TanayUK
@TanayUK, That's great - a lot less stress than I feel on a daily basis, I'm sure =D
@rsam, haha not really, have had to sleep on 1000 pips DD....pays off big in the end, but really looking for profitable short term strategies

how do you trade?

been profitable overall?
rsam TanayUK
@TanayUK, Not profitable overall yet - I need to make back the 400-pips on 1 lot I lost in a day when Trump got elected! (I meant to click short, but accidentally clicked long, and then waited with fingers crossed. Just one month into trading too - talk about being clueless). My strategy would be profitable if I'd follow it, but I don't, so that's my problem. It's a pretty simple strategy applicable across pairs which uses pivot H/Ls and a momentum oscillator with a very tight stop loss - which I end up moving every so often to my detriment. Sigh..
@rsam, ah i bet you would be profitable on longer timeframes - since you don't have to look and do stuff every day ;)

why don't you create a robot to trade your strategy?
rsam TanayUK
@TanayUK, yeah, I'm seriously getting tempted to - though I like trading for the analytical side of it - even if I lose money! Talk about being daft, there's no hope for me.
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