Trading the GBP/JPY

[JahDave]

I would like to start this thread for traders that trade the pound/yen. It is one of my favorite pairs to trade because of the large moves it makes.

 

[Shikamaroo]

the yen steals my funds on a daily and weekly basis.

 

[Black Swan]

I would like to start this thread for traders that trade the pound/yen. It is one of my favorite pairs to trade because of the large moves it makes.

are you in a trade atm, if so what? Did you short at midnight (GMT) on 24th... still in?

 

[Shikamaroo]

no i'm not in a trade at the moment. I take shorter positions, for the session's length mostly or till lunch period, and i'm still trying to refine my entry and exit. was in earlier as you can see i got stopped out which i fully expected but too many times i expect to get stopped out and trade runs a country mile.

 

[Mr10%]

Go DMA you will get spreads no more than 4-5 most of the time. Essential for scalping the beast.

 

[GladiatorX]

Go DMA you will get spreads no more than 4-5 most of the time. Essential for scalping the beast.

Futures requires much higher margins and higher stakes.

 

[Black Swan]

Go DMA you will get spreads no more than 4-5 most of the time. Essential for scalping the beast.

Well...for 'scalping' I agree, but TBH (and IMHO and experience) it's the best swing trade currency pair out there. It's relatively expensive however and wherever you trade it...got to be done though eh?

 

[BoarDome]

Halotrader:

No one mentioned futures. Futhermore, DMA > Spread betting.

BS:

I concur, intraday swings are amazing to catch on to. I'm glad it woke up on Wednesday.

 

[trader_dante]

Go DMA you will get spreads no more than 4-5 most of the time. Essential for scalping the beast.

4-5?

If you trade the futures for GBP/JPY, DMA you will get a spread of 2.

 

[trader_dante]

I would like to start this thread for traders that trade the pound/yen. It is one of my favorite pairs to trade because of the large moves it makes.

Is it important how large the moves it makes are?

Isn't it better to find something thats moves are the most predictable?

If it has a low ATR, bet larger.

You will make the same money...

 

[trader_dante]

How intelligent. Someone who can't read. He wrote "no more than".

Sorry, can you explain this? I can't read.

 

[Black Swan]

4-5?

If you trade the futures for GBP/JPY, DMA you will get a spread of 2.

Who d'ya get a spread of 2 off TD? Can I expect the same if (when) I move up to FXCM active-trader?

 

[snake86]

4-5?

If you trade the futures for GBP/JPY, DMA you will get a spread of 2.

trader_dante,

Which DMA providers are you talking about? It would be interesting to know.

MB Trading provides good spreads on GBP/JPY spot, sometimes close to nothing, got to be opportunistic about those, though. If anyone has any experience of Hotspot FXi or Dukascopy for Spot FX trading I would highly appreciate their views. Not so keen on Java platforms but if they've good liquidity than it's livable I guess.

Snake.

 

[trader_dante]

Actually I was just thinking about trading the GBP and JPY future. There is a 1 pip spread on each DMA so excluding commissions you are trading it with a 2 pip spread. Entry can be a little tricky though - you might need an autospreader.

 

[Black Swan]

trader_dante,

Which DMA providers are you talking about? It would be interesting to know.

MB Trading provides good spreads on GBP/JPY spot, sometimes close to nothing, got to be opportunistic about those, though. If anyone has any experience of Hotspot FXi or Dukascopy for Spot FX trading I would highly appreciate their views. Not so keen on Java platforms but if they've good liquidity than it's livable I guess.

Snake.

Yep, same here, I've yet to see anyone (consistently) offering 2 spread on GBY/JPY...

 

[JahDave]

I just sold @146.40 with an expected five waves down, so a limit @ 143.50. Then I'll go back long when this correction is over.