regarding GBP/JPY.
i used a fix stop-loss of 50 pips for this pair due to its high volatility, but i fear the direction of the price would go off course and eventually resulting in loss when it should be profitable. so i'm considering of using the dynamic stop-loss and let it move along with the price, but one problem is that, sometimes volatility is really high and a retracement might cause my trade to stop out earlier when i can be earning more after the retracement.

any prof here mind to give me some ideas and suggestions?

my view on the UJ. going to buy when the short EMA crosses above the long one. any thoughts?
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I notice that the formulas used in the calculator you gave us are different from the ordinary ones i found in the internet.
The formulas i know are
Resistance 3 = High + 2*(Pivot - Low)
Resistance 2 = Pivot + (R1 - S1)
Resistance 1 = 2 * Pivot - Low
Pivot Point = ( High + Close + Low )/3
Support 1 = 2 * Pivot - High
Support 2 = Pivot - (R1 - S1)
Support 3 = Low - 2*(High - Pivot)

and from here http://www.babypips.com/school/how-to-calc...vot-points.html

Would you mind explain to us what are the difference they made and which one should we follow?
Thanks in advance..

PP, S1, S2, R1 and R2 are the same. Only S3 and R3 are different. S4 and R4 i dont know, cause those sites i read only give formulas till S3 and R3.

it allows us to choose between formulas. for S3 and R3, the default formulas are PP+Range*2 and PP-Range*2. but if i select the formulas below them, they give the S3 and R3 according to the ones calculated from babypips.com.

u know wat the differences? and which one to use??

This post has been edited by ctleong: Feb 1 2011, 09:51 PM

i see..
follow the sifu then "no die" la

i understand that the risk reward of 1:2 is the widely used ratio for setting stops and profit takings, but it seems that there is a problem with it (or maybe it's just me). seldom my trades hit the target and mostly they ended up with no loss but also no profit. i read that able to achieve 1:1.5 is already consider good enough. any idea anyone?