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I just feel a bounce is imminent here. Maybe my timing will be a day out. But i just feel a bit more confident in going long than holding a short. But tight stops nevertheless.

I took profits on short (not posted here). Now I am going long. Long 211.25 st 210.60 tp 213

The £ will fall lower. Inevitably the UK housing market will weaken, consumer will slowdown, the UK will stupidly nationalise northern rock. I'm not sure on parity with euro though as the eur will collapse later in the year when the ECB have to start cutting rates, when the eurozone gets...

I would agree with you on the 95% stat. I am quite an omnivorous trader and trade a lot of different products, although my speciality is forex. I believe you must try different markets until you find an area which you do best at. Or have the best feel for. I just gravitate where the...

St hit. Out at break even. No more trades this week. GBP/JPY. Been consolidating. Just not getting yen strength & gbp weakness to pull it down. Should of taken easy profits this am. Oh well thats the risk in a range v trend environment.

I am in Europe. I noticed that post-trade balance. I think short is the right way to go. We may get a pop higher in the stock markets early in the session, but i reckon we'll see lower than now. This will drag carries down too. Just my thoughts though, as fridays can be unpredictable.

Remember its friday and anything can happen.

Good trade Cambist. It was a nice spike. I am still short, but put stop on entry for no risk now. Lets hope for a big win.

short 213.85 tp 210.7 st 215.4 on the bounceback. JPY strength coupled with GBP weakness, is a good sign for further weakness here. Bernanke was quite emphatic yesterday in saying that he would take "substantive measures" to avoid a recession. I wonder what news is in the pipeline?

TP hit +79. Not sure I believe the upside argument here. As GBP weakness, JPY neutrality, equity market rebound are all under-currents here. AUD/JPY is a better long play. If necessarily I will wait for a retrace to get long again. 213.50 is the line in the sand for the downside.

To an extent you are right, you do look what others are doing for a consensus. You even use this as an indicator. But in the end you trust your own ability and think i'm right they are wrong. My reasoning for my recent trade is this: the recent at 213.5 wasnt broken on sunday when asian...

I agree. You made some interesting points Mrbigfrank. For the evolution of this thread it may be helpful if people gave a reason for their trading position. Some technical folk could be some indicator crossing etc. For fundamental folk it could be this news was released the market did this...

Mrbigfrank, I understand the nature of your strategy. But what is the point of a thread if everyone posts retrospectively? If you look at the posts recently, you will see a lot of tops sold, and bottoms bought. Albeit 15mins afterwards. All methods & discussions are welcome...

Long 214.21 st 213.5 tp 215 Not great risk reward, but just playing the range. Atticus can you explain the oanda box option again. It has to stay within the box to make money or outside?

-84 stop hit. It wasnt the stockmarket or usd/jpy bringing it down. It was the fact the GBP reversal of 100+pips after it held rates (which didnt even suspend the downtrend for an hour). Bit simplistic just looking at whether the Dow is up or down relative to placing a GBP/JPY trade. This...

Anyway, long here 215.64 st 214.8 tp 217.5

Bigpipn, i have to call BS when i see it. How could you of got 14pips profit with a BOE annoucement. Price was about 215.12-20 1sec before. So you got filled instantaneously and also at a profit when GBP/JPY would of spiked 50pips through it. I thought guaranteed stops were dead.

I think posting late reduces the integrity and effectiveness of this thread. We need live calls, otherwise i could sell a top and buy a bottom all day. When 50pips in profit (when i post on et) i can put a stop on entry so no risk, all profits. If you cant post your trade within 1-2mins of it...

Atticus. I think I understand the reason for late posts. To sell products/service. Think we have been naive.

Very good entry getting almost to the exact pip of the recent high.