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GBP JPY: My Best Trades of the Year
By Benny Nardino | December 22, 2005
Today was a busy day. I had two trades running simultaneously today. It’s been a long while yet since I last traded this way on a personal level. For some reason both trades came up
trumps and that was very encouraging. I traded cable, GBPUSD and pound yen, GBP/JPY this morning. The weakening cable run encouraged me to trade both pairs southward this morning. I took the first position at 1.7434 came off at 1.7362 and this recorded 72 pips within 3hrs. The chart expalins this.
The second trade was more rewarding and the gift of patience eventually paid off.
About the same time the above trade was placed I shorted GBP/JPY at 204.93 as well. This kind of trade highlights why it is worth sticking with the signals. Took profit at 202.65 just before 1600hrs GMT and that was a whopping 228 pips. I can tell you that it was one of my best days of the year 2005 with 300 pips in the bag on both trades. This eclipse my weekly expectation which had certainly paid for my girls school uniforms. LOL.
Here’s the other chart too.
Some may wondered why I stayed that long for an advocate of 2hrs trading per day. At point A, you should have seen a Tweezer-Tops for a reversal.
Having made a few pips in my earlier trade I was tempted to stay in which isn’t wise but it paid off. I saw B as nothing but a consolidation. I was waited some more drag from the US market open and I got it just before 1600hrs at point C. Game over for me. I hope this helps the anonymous traders. Have you traded today? Did you gain anything? Let’s see how you did. Have a pleasant trading day.
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4 Responses to “GBP JPY: My Best Trades of the Year”
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December 23rd, 2005 at 0:09
Hi Benny,
Great blog. I saw your posting on Forex Factory. I would love to learn from you. I like the look of your charts. Please let me know how I can learn your system. Thanks, Benny!
- Don
dnbae@yahoo.com
December 23rd, 2005 at 11:32
Hi Benny, this might be a stupid question, how can I make your charts bigger? Thanks for sharing.
Billy
January 23rd, 2006 at 16:18
Hi Benny
Thank you for sharing, very informative. Will visit often.
Johan Mare (marejp)
January 23rd, 2006 at 20:34
Hello Benny,
I very much appreciate you posting here. I have just discovered this blog. Please continue posting. I am new to forex and need a “guide” if you will.
Thank You, Paul