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GBP v JPY Forex Market Outlook Tuesday 21 October 2014
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Posted on: 21st Oct 2014
Today�s live Forex daily market overview by popular request is on GBP v JPY. This is week eight since the inception of this portfolio that started trading on 01/09/2014. Starting on the first day of trade, traders were instructed to simultaneously buy and sell one micro lot entry on all selected twenty currency pairs.
Based on the trading sequence chart we are supposed to buy and sell two micro lots size orders simultaneously on GBP v JPY for two reasons; equity is above �110,000 and no current open positions. For USA traders that cannot enjoy the luxury of buying and selling the same currency pair due to some legal loophole, they can make a conscious decision to place only buy or sell orders as long as they use the lot sizes sequence table.
The three buy pending orders on GBP v JPY are 20 micro lots at 17200, 35 micro lots at 17110, and 55 micro lots at 17010. Next order to be executed will be 85 micro lots at 16910. The decision to buy has no bearings with directional bias, a profitable outcome will be achieved even if a sell decisions was the preferred choice.
All five AUD v JPY opened positions closed at 9390 on Monday 20 October 2014 at 00:28 GMT with a net profit of �976.23.
All opened positions on Four EUR v JPY opened positions closed at 13690 also on Monday 20 October 2014 at 02:46 GMT with a net profit of �725.24.
Open positions today Tuesday 21 October 2014 stands at 56 entries; equity above �110,000, usable margin �109,000, usable margin percentage 93% and pending orders at 34. Buy orders are on EUR v USD, AUD v USD, NZD v USD, CAD v CHF, CHF v JPY, NZD v JPY, EUR v JPY, CAD v JPY, GBP v CHF, USD v JPY and AUD v JPY. Sell orders are on AUD v JPY and GBP v AUD.
Look out for Wednesday 22 October 2014 blog post; Tuesday�s close positions if any will be showcased. The most viable buy or sell currency pair based on our unique trading plan will also be showcased. Our standardized trading process flow coupled with 12 second commute 100% payout program provides you the platform to succeed with mathematical precision.
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