tianx’s Long Term Beast Position (GBP/JPY)

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Jul 9th 2007

tianx GBPJPY, forex signals, forex 1 year, 4 months ago
Tags: GBPJPY.

Opened an additional Short with the beast/guppy whichever you want to call it (GBP/JPY) at 248.70. Setting this up as a rather long term trade with very low leverage. It may still pull up a couple of hundred pips before it starts going down, but hey, that’s the nature of the beast.

Open: 248.70
Target: 243.80
Stop: Not set-

Just make sure to monitor the position daily, if opening multiple lots, take 100 pip profit increments to lock in profit. This is -not- a day trade signal, and always check swaps before opening a long term short on GBP/JPY as overnight interest can be a bitch sometimes.

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7 Responses to “tianx’s Long Term Beast Position (GBP/JPY)”

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1 JoseLeon Jul 9th, 2007 at 1:00 pm

Well, I see in my strategy the opposite: this pair could go up this week a lot if there are no important news against my long position.
And elliot waves tell me the same: these days gbp/jpy could go up to 248.97 in the first place and then to 249.43 but who knows…

I am in a long position since yesterday with a 100 pips stop loss.
2 tianx Jul 10th, 2007 at 9:22 am

Dont forget to take at least 100 pips profit on one of your lots if anyone followed the signal, and set the other stop to 248.04 in order to at least lock some profit on the second lot.

Been a long day, need a nap..
3 JoseLeon Jul 10th, 2007 at 10:49 am

You were right tianx, it was time to get stronger jpy, I lost 100 pips but I will recover next time
4 makila Jul 10th, 2007 at 2:20 pm

Does that mean we are in profit with this pair Chris
Goodnight, sleep well.
5 tianx Jul 10th, 2007 at 6:19 pm

Meh, hit 100 point trailing stop.

Calling this position closed

Open: 248.70
Close: 245.97

Time for bed.
6 makila Jul 10th, 2007 at 8:57 pm

Okay lets see…

Leverage 1:1, 0.1 lots
1:1 leverage = 0.01$ a pip/100$ –> 273 pips –> 2.73$ on every 100$, but using 0.1 lots so 2.73$ x 0.1 = 0.273$ profit on every 100$
Total capital +-50000$ –> 0.273$ x 500 = 136,5$ profit for 50k = +0.273% profit minus fees

Now I hope above calculations are correct, please correct me if I am wrong..

Mind ya, this is the minimum profit Chris made with his trade using mini lots and a leverage of 1:1. Most likely he used 0.1 lots with leverage 1:4 or something which means you have to quadruple the profit in that case

(a leverage of 1:100 with full lots would have given 273% profit hehehe…)