currentprice:


GBP.JPY Tuesday low taken out with the bank rate cut ,,,,next price candle following after the announcement was not good as confirmation for more seller to come in,,,,might be very difficult to dig-down next support at 132.20

waiting on the side-line for close of market today for my buy/sell decision on the pair

^{_{read my siggy before trading my calls}}

currentprice:

^{man must show his marketing signature now}

currentprice:


time to take the calculated risk based on the bold levels,,,, let go

Buy GBP.JPY with me now at 132.48 SL add 20pips below the bolded support with will be 48pips Sl

Tp open

check your chart to see what you want to trade before you trade

^{_{read my siggy before trading my calls}}

fxbomovi:
lol... U are very funny.
@pipbasketing, pls no offence meant.

Feshizzy:


To my Chairman above me,
You are doing a wonderful job, 4 kegs of palm wine for you.
One thing is to trade the other is to implore good managerial skills.
My Boss you got it!!!

@jorel1 you kind of trade should be titled don't try this at home.
Most time is not about being unique/special but being consistent!!

Jline was abit offline yesterday.
But the matter has been put to rest.
No hard feelings, the market doesn't give a f**k

Cheers
Happy Pipping.

jorel1:
consistent in what exactly? ROI or pips or entry decisions? consistency varies for everyone, even if nobody is up to 80% consistent however being unique and special covers everything ... although I never said am unique... .
but why do you think one who makes more than 300% on a trade can't be consistent?

Pipsbasketing:
Meanwhile, I do my pipsbasketing on live and still doing it, no complain.

currentprice:
pipsbasking method of trading for me is what i call "don't put all your egg in one basket" very relevant in financial market. ,,,,used this method in my early year on stock market investment .... if rightly applied with good mkt analysis, there is no way margin call anytime soon good for the new comer,,,,,for the guru choice of trading 1 or 2 pair the end result might still be same as pipsbasketing explained the MM behind the strategy. quoted divide capital by 100,000,,,he used £1000 as an example which is 0.01 lot size. so using 0.01 lot on 20pair,,, you still trade 0.20 lot size on all .... would relatively gives same result or more when trading one pair with 0.20 lot size if positive pips drop

assuming both pursue same pips target

the advantage of the pipsbasketing to newbie when SL of let say 300pips hit on one go the end road of guru for that particular trade,,,newbie with pipsbasketing might still stay on the trade with some positive pair

the advantage of 1 or 2 pair trading by the guru is,,,the target can be achieve within 1, 2 or 3 days while some pair in pipsbasketing still dancing up/down

As a pair or two trader.... am i learning from the pipsbasketing post? yes because my trading pair always part of the pipsbasketing at any particular time.....so i compare direction,,,if a different direction notice i call for chart re-check and sometime he post chart for more clearification atleast that gives me caution since am not mr. market and everybody read chart in a different way

BluePearls:


I had to research more on you strategy, very interesting I must say. Thank you for opening my eyes to it.. Looks like I'd be emulating this for a while. Please I need more pointers;
*How can I adjust SL to best suit this strategy?
*I noticed you don't use TP
*which pairs do you recommend?
I had all the questions in my head earlier but forgot them now
Please just point me in the right direction.. Thanks a bunch

Pipsbasketing:
Oh, glad you found it interesting, actually, there is no big deal pipsbasketing trades ONLY than you do not want to put all your eggs (0.2 lot for say $1,000) in one basket (single pair) but expand them (0.01 lot for same $1,000 over many pairs that give clear entrance acording to your strategy, all totalling that same 0.2 lot you would have used): currentprice quoted that as below.

If you want to trade many pairs with peace of mind, you need to do that on H4 or higher TFs.

Answer to your questions:
* Always set your SL to a pivot of your swing (For a practical example, kindly post a chart and show your possible entry with a vertical line, then I can indicate where likely you may put your stop.
* I do not use TP, YES, because I close my trades manually, I have got enough time to do that taking order ONLY once a day.
*Since you want to trade basket (meaning, you want to trade as many as possible that give head-on), you may want to scan through all pairs that do not seem too spiky to you and choose the ones that give the very best and clear entry according to the signal you use. Hence, I recommend any pair that do not look too spiky to you, like USDHKD.

Bring all your questions, I will be glad to answer them within my limit.

Regards

Pipsbasketing:
Bro, though I am not yet on GJ, but kindly check your GJ again.....

Though, I do not trade H1 or H4, but I checked it to see what your position says, I see it is dangerous to buy the pair at this point whether on H1, H4 or D1 with the said SL..

Kindly get back to me

On H1 and H4, the pair has a high momentum/volatility build up to SELL, but on D1, the sell may not be enough to make the pair continue selling, hence about to turn to BUY......buying now? I can't see here

currentprice:


thank brother for the post,,,,the trends is clearly down my trade was based on expected demand/support levels at the 132.20 ,,,,, could have taken the trade last week but waited to risk the trade with little pips should the trend continues

If the levels got broken to hit my SL at 132.00, and the price stay below the levels till close of market over to the next day I expect the trends continuation to next demend/support levels at 128.10 ..

if that happen,, I follow SELL until strong reversal seen again

Pipsbasketing:
Kudos bro, meanwhile a BUY set-up for you is building up on H1 and may be confirmed by your entry maybe in the next hourly candle, with SL of about 40 pips (just like what you called before)

Kindly check ur set up for H1 for the confirmation.

Feshizzy:


I'm currently not in my workstation but from your chart, I suggest you proceed with caution, as that buy would be short lived, is it shows it's on a counter-trend, and hasn't shown seen of weakness yet.
My analysis is quite limited, as I can't find it having reached a support zone.
But either way,
Cheers!

shorty002:
Closed it at -40 pips. Wen d 1 hour closed below d low. Looking to buy later if opportunity arise.

Feshizzy:
On a humble note. Trade with caution
Your NJ and EJ,
The bear still have a stronger hand in the market.
Probably they would come down to test that support. IMHO

BluePearls:
@Pipbasketing
* whats the best leverage to use for basketing strategy? i use 1:100 - 1:500, is that okay? Like i mentioned earlier, im looking to Demo with a small amount ($50) with strict money management.
* I'm having trouble figuring out the best pair to use, you mentioned i shouldn't go with pairs that are spiky. What do i look out for? How do i identify which pairs to use?
* Can i trade H1 with this strategy

Pipsbasketing:
I will say you should choose the 1:500 for your $50 and never have more than 4 pairs at a time.
I doubt $50 will be good for pipsbasketing, to be practical
trade the common major and cross pairs. spiky I mean pairs whose prices are never stable but random and chaotic (See pix), most of the HKD,ZAR,TRY,SGD,SEK,RUB,PLN,NOK,MXN,HUF,DKK etc. USD quoted behave that way. you can as well check GER30.
YES, 1hr is good, can be stressful, though.

BluePearls:


thanks bro..you've been very helpful