I am long up to around 112 into the end of data week
http://www.morrisfunds.com/storage/f...01-29-2006.PNG
http://www.morrisfunds.com/storage/f...01-29-2006.PNG
long eur/jpy, gbp/jpy, usd/jpy 11 replies
EUR/JPY Trading Room 876 replies
USD/CAD Trading Room 470 replies
EUR/USD Trading Room 328 replies
Do The Trading Room 20 replies
DislikedIt's odd everyone loves the 6-12 pip spread GJ, but nobody cares for the 2-3 pip spread USDJPY that not only drives it, but also costs less to short and trade due to spread and swap...
Anyhow.
Just my hobby count, up for discussion with anyone who dabbles in EW as well, so that I may get some pointers as to potential mistakes and proportions etc.Ignored
DislikedThe difference (statistical) between U/J and G/J is the daily average range. Measuring daily range over a 20 days period this calculation reveals;
U/J: 118 pips
G/J: 277 pips
So if you play with a 6 pip spread on G/J it boils down to personal (preferred) style/tolerance, IMO.Ignored
DislikedYou're forgetting that GJ also has tons worse leverage due to the stop size. USDJPY on average has simply given the smaller entry "wrap around" vs GJ.
Example: 40 pips UJ 4h pin bar, 170 pips GJ pin bar.
UJ moves it 260 pips, GJ 750. That's 6.5 times your risk on UJ, 4.4 times your risk on GJ for the same move/swing.
So, to summarize: you paid more spread, more negative swap and got less return for your money.
BUT - you get to post more pips to a forum(or to write down for yourself).
Quite frankly it's a suspicion of mine that this plays a MUCH MUCH larger role/is a bigger "factor"/influence than any efficiency consideration for many.
More pips = more ego satisfaction, be it privately or publicly.
I'd however prefer more % = more profit, so I bring this comparison up from time to timeIgnored
DislikedA snap shot of a current Long scalp of 15 minute chart still in play. 113.00 Long / TS at 113.60 / TP 114.00 UPDATE: 0538am edt / The Snap shot is a bit small, and does not take into acount the larger picture of the trade. Tried to get the chart as clear as possible. I will update a chart and my "thought process" when trade closes, with a bit more detail. {image}Ignored