Hi Folks.

So today was a lousy day for me because I was in doctor’s offices from about 8:15 until after 3 p.m. so I missed trading today…nothing serious, so far, just a Covid infection that refuses to go away.  I guess we’ll see what the future holds on that one.

But one trader who showed up today was Jennifer O., who has been one of my people for a few years now.  She wrote:

“I put Renko Wave on your old girlfriend (she’s talking about a joke I made about the GBPJPY) using 5 pip Renko boxes.  Started at 8:30-ish, stayed for 2+ hours, caught 6 trades, and closed them all in profit for 115 pips overall.  You always mention looking for stress-free trades.  That was what today was.  Stress free.  A couple of my entries resulted in a small temporary drawdown of 10 pips, but those quickly vanished as each trade marched into profit.  I know it’s just one day but this really does hold a lot of promise.  I’m looking forward to next week when the markets start getting back to normal.  I think this is going to be a great tool to use to find all the winning trades I can handle.”

It’s been a while since I traded My Girlfriend, but my recollection is that it takes about $200 in margin funds to trade a single Full Lot on Coinexx, so you don’t need a massive account to trade lot sizes big enough to matter (especially when you are using stops that average 10-15 pips).  In the case of the GBPJPY, the pip value is somewhere around $6.90 a pip, so Jennifer made somewhere in the neighborhood of $790, give or take a few pennies.

If you haven’t checked out Renko Wave yet, head over to https://simplicators.com/renkowave and watch the two videos on the site (and FYI, a third one is coming tomorrow) and see if you think you might be able to handle taking a half dozen trades using crystal-clear signals for entries and exits, and maybe start having a few 115 pip days Like Jennifer did today.

One thing about today’s GBPJPY chart: it wasn’t anything special. No massive one way price runs, no news-based spikes to juice up the totals.  Just a sort of lazy Friday meandering price flow that happened to net at least one trader a bunch of 10-20 pip winners (I think one may have been 40-45 pips).

And remember, I’m trying to convince you to pick up Renko Wave not only because I think it is an outstanding indicator, but also because I’m trying to raise some funds to help the kid of who coded the indicator (and his Mom and sister) find a new place to live after a series of earthquakes rendered his apartment uninhabitable.  You can read about that on the page at https://simplicators.com/renkowave 

 So click the link, head over to the page, watch the videos, scan the charts I have posted there, and then pick up your own copy of Renko Wave while it is still affordably priced.

Back more with later.

Jeff

P.S.: In editing this email it dawned on me many of you may not know about My Girlfriend.  Back in the day (2006-2009  or 10) most Forex brokers only offered currency pairs for trading, and the GBPJPY was the maniacal chart a lot of us fell in love with because of its constant 50-100 pip price swings. As time went on and brokers started offering Gold, Silver, Oil and a lot of other trading vehicles, I’d start trading those other charts exclusively for a while, but I always ended up going back to the GBPJPY at some point.  I made a joke in a trade room one time that the GJ was the girlfriend I just couldn’t quit.  Sure, she might have set my house on fire, keyed my car’s paint job and put a bunny rabbit in a pot on the stove, but I just couldn’t quit her for some reason.  And that one joke got traction and now a significant group of traders knows the GJ as “My Girlfiend”.