GBP/JPY – Popular with Action Loving Traders

Posted on December 19, 2009 by Yohay
Filed Under Forex Opinions | 3 Comments

GBP/JPY is the king of crosses. There are many reasons why it’s popular. Looking at the Geppy again, it looks like the popularity comes from specific traders,but they aren’t always on the winning side.

Looking over and over again at the social indicators at Currensee, I see the same picture over and over again: no matter what position is taken, long or short, the outcome is negative.

GBP-JPY

GBP/JPY is a popular cross due to a few reasons, one of them being the strong moves that it makes. In a post that I wrote a few months ago, I took a deep dive into the Geppy’s popularity.

The big range of pips that GBP/JPY does every day is attractive to traders that want fast and big profits. They see that the Geppy makes 100 pips to a certain direction while EUR/USD, USD/JPY and others move only 20 or 30 pips at the same time.

These moves catch their eyes and they want fast profits. They don’t always perform a serious technical analysis, nor manage their money correctly before riding this cross.

Too often, this ends in losses, as most hasty moves turn out. It’s possible to make profits with this pair, as any other, but I think that the character of traders that pick this one up is more of the gambling type than the serious trader type.

What do you think?

You can see the social indicators for yourself by joining Currensee. It’s totally free.

Enjoyed the post? You may want to subscribe to the RSS feed.

Tags: ,,,,

» «

Comments

3 Responses to “GBP/JPY – Popular with Action Loving Traders”

  1. EUR/GBP Weekly Outlook – Forex Trading, Currency Forecast, FX … | Pound Sterling Currency Herald on December 20th, 2009 12:49 am

    [...] GBP/JPY – Popular with Action Loving Traders | Forex Crunch [...]

  2. Forex Trading – news and analysis regarding the GB | Forex … | Pound Sterling Currency Herald on December 21st, 2009 7:57 am

    [...] GBP/JPY – Popular with Action Loving Traders | Forex Crunch [...]

  3. GBP/JPY in a Tight Spot | Forex Crunch on February 9th, 2010 5:27 pm

    [...] GBP/JPY fell on Thursday from 144 to 139 in a matter of hours. Most currency pairs don’t see a 500 pip movement in a short period of time. There’s a reason why GBP/JPY is popular with action loving traders… [...]

Leave a Reply




Additional comments powered by BackType

  • Forex Crunch

    Forex Crunch is a blog all about the foreign exchange market. It includes and will include: tutorials, basics of the forex market, daily and weekly forex analysis, technical analysis, forex software posts, and whatever is related to Forex. Forex Crunch aims to deal with forex trading, but with a more personal touch. More...

  • Stay up to date!

    Subscribe By Email

    Enter your email address:


    Trade together with Currensee

    Search

  • Forex Crunch Pages

  • Forex Categories

Bad Behavior has blocked 2777 access attempts in the last 7 days.