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After a wild past few weeks, the GBP/JPY pair is beginning to settle back down. While most of the traders I know will agree with me that the dive is over and it’s time for the GBP/JPY pair to do what it normally does (go up) there are still reservations on opening long positions at this level. Who wouldnt be scared of having another 900 pip drop while they’re sleeping?

Read the full post of Restarting the Carry Trade?

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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-

Read the full post of tianx’s Long Term Beast Position (GBP/JPY)

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Leverage Broken Down
What do these numbers mean? Let us take 100:1 for an example. I’m going to make this as simple as possible with only one formula used. Amount you want to trade divided by the leverage number.

Read the full post of Quick look at Leverage

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For my very first post, I guess I’ll have to introduce myself. The name’s Christian (tianx) and I’ve been dabbling on the forex market for roughly 2-3 years (lost track somewhere down the road. To better understand the things that I’ll be posting on this blog, first you guys must know about me, my trading mentality and methodology. Well… Actually for the me part, that’s not really important so lets move on to the trading mentality part. Contrary to whatever disclaimers out there say about going into the Forex market only with funds you can afford to lose, I prefer to think of the funds that I actually hold as something that I can not afford to lose. This way, the “Video Game” mentality of trading is taken out.

Read the full post of Introducing Christian!

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