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USD/JPY Discussion

  • #67,861
  • Aug 7, 2017 6:57am Aug 7, 2017 6:57am
Bullish on USDJPY. Target price of 111.68.
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  • #67,862
  • Aug 7, 2017 7:10am Aug 7, 2017 7:10am
Quoting KashifNawaz
Can anyone help me please to get me out of here? I have trapped myself in worst hedging. {image}
Dont close your sells.. wait for your buys to get green... or else let them go close to your opening price.. then book small loss or profit on them.. as the main trend is in my opinion down .. your sells will bring you some relief.. if you dont want to follow then just close all the trades and accept the loss.. and move on ... rest you can calculate things on your own..
Markets are Irrational
  • #67,863
  • Aug 7, 2017 7:12am Aug 7, 2017 7:12am
Quoting danc
4hr.. long position.. loose stop {image}
slow paint drying..??4 hr chart
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  • #67,864
  • Aug 7, 2017 7:16am Aug 7, 2017 7:16am
Well said mate! Beginners to this trade should use the demo time to learn basic trading skills, experiment and master one or two strategies, learn patience and master how to trade and protect their accounts. The first few years of trading are to learn to secure your trading accounts so that you are long enough in the business to build competencies for consistent profitability.

Trade safe and prosper.

KP

Quoting Catch-22
... What I'm trying to say is: Use a small BUT REAL account, for 6 months minimum, and then go again. It's near impossible to have learnt trading in one month of demo trading, you haven't even gone through any type of financial cycle yet, seen a long term trend change, or basically anything. If you aren't getting a buz from that, it's exactly the way it should be.
Do your homework, follow the footprints of smart money
  • #67,865
  • Aug 7, 2017 7:48am Aug 7, 2017 7:48am
Quoting phokienhuy
Hello everyone, I'm new to this and got myself in this situation. Could anyone help me to get out of this? Is there any chance that usd/jpy will go down?? what should I do now?? thank you in advanced {image}
Hello phokienhuy,

Try to follow a Trading System with ... a MetaTrader4 ... (which plan to choose is your decision to adapt it to your trading style)

Plan = entry point (SL, TP)

Compared to my TS, you would be against the trend ...
What would I do in your place?
Entry @ price (SL & TP)

So I would be out or in and ... liquidity ready for a new input signal (TS)

P.S.

The short (long) input signal would occur at the next open bar (when the previous close is under (over) the lower BB55 (0.38) ... (higher ...)
The TP (or SL) is the same value of next ... entry trade

(T.S.) ... ($Ym15) ... sell(buy)@ma13yellow X BB55green lower or higher (TP,SL = new entry@)
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Attached File(s)
File Type: tpl ($Ym15) ... sell(buy)@ma13XBB55lower(higher).tpl   30 KB | 250 downloads
... panta rei ... (Heraclitus of Ephesus, 535-475 BC)
  • #67,866
  • Aug 7, 2017 7:50am Aug 7, 2017 7:50am
Quoting ArslanHyder
{quote} Dont close your sells.. wait for your buys to get green... or else let them go close to your opening price.. then book small loss or profit on them.. as the main trend is in my opinion down .. your sells will bring you some relief.. if you dont want to follow then just close all the trades and accept the loss.. and move on ... rest you can calculate things on your own..

Thanks Brother Arslan.. I will play slowly and hopefully wisely this time. :-)

Thanks for your advice.
.................
  • #67,867
  • Aug 7, 2017 7:58am Aug 7, 2017 7:58am
Quoting KashifNawaz
{quote} Thanks Brother Arslan.. I will play slowly and hopefully wisely this time. :-) Thanks for your advice.
My Pleasure... Learn from your mistakes and don't repeat them.. Wish you goodluck
Markets are Irrational
  • #67,868
  • Aug 7, 2017 8:43am Aug 7, 2017 8:43am
expecting
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  • #67,869
  • Aug 7, 2017 8:51am Aug 7, 2017 8:51am
Quoting KashifNawaz
{quote} Hi mag00, Yes I did a mistake. Actually I started with .5 lot only buy position and then left my office to drive home and once I reached there, it was already -350 $, instead of closing, I opened opposite position and locked my loss for some later point and then opened another position according to trend to at least earn something. But again, that position also went against me and I opened another against that. In this way, I ended up to reach my leverage point. I wish, I had done opposite. I will try this indicator and will let you know...
Hey KashifNawaz,

Starting with half a lot you would have been leveraging 13 times your trading account ...
... a fun opportunity but ... without SL (?!), not optimizing the point of entry and guessing the short term trend, ...
... you did so that the counterparty, by mistake, went into continuous gain until the trend expired ...

By paraphrasing the game of chess: you played blindly against the best opponents ...
... risking a lot for a fast (high lever) scalping failed ...

Trading is also (above all) probability: nothing is certain and nothing is uncertain, both are true and at the same time none of them is true ... (?!):
(... the reality appears in the middle ...)

P.S.

Entry @ price (SL, TP)

(alias %W + RR = profit factor = TS)
... panta rei ... (Heraclitus of Ephesus, 535-475 BC)
  • #67,870
  • Aug 7, 2017 8:58am Aug 7, 2017 8:58am
Quoting nesta
h4 {image}
SL:111.055
if you my trade,My-post analysis, subscribed to ME
  • #67,871
  • Aug 7, 2017 9:03am Aug 7, 2017 9:03am
targeting area between 110.238 to 110.340
  • #67,872
  • Aug 7, 2017 9:16am Aug 7, 2017 9:16am
Quoting NagaMas
targeting area between 110.238 to 110.340
me too mate, just a little bit higher than yours..
  • #67,873
  • Aug 7, 2017 9:46am Aug 7, 2017 9:46am
Quoting markofrose
{quote} me too mate, just a little bit higher than yours..
very well, mate

my first pit stop is 110.650
  • #67,874
  • Aug 7, 2017 9:53am Aug 7, 2017 9:53am
Quoting KashifNawaz
{quote} Hi Windstrown, Thanks for your advice. I am not panic, just figuring out, how to get out of this. I will wait for a major reverse of price action (with the confirmation of all main indicators) and then only I will close one side of positions. If I got luck, I will save my 3000$, otherwise I have lost these already :-) I cannot take risk of TP or SL here as any moment they can make my account 0.
I hope you get out of it mate.. but if i were you i would close one of each positions you have up (one long and one short) just because you are too laveraged for your money and when you close all of the longs you will start panicking the moment the market doesnt reverse like you wante it and you will lose alot more.. thats just my opinion, i have been there and unless you have balls of steel or you make a perfect trenline exit and no other factors come in play you are bound to sweat alot. Its not worth it. This is not a sprint. Its a marathon you want to make little everyday or every trade and not risk it all on every tarde mate
  • #67,875
  • Aug 7, 2017 10:04am Aug 7, 2017 10:04am
ups, I forgot to copy the SR bar from M1 TF. Actually It has reached the M1 pit stop. I should have closed this scalping entry.

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I'm forward-testing my unconventional technique to draw the SR area
  • #67,876
  • Edited 10:59am Aug 7, 2017 10:11am | Edited 10:59am
unless It goes once again below the M5 area, kinda difficult to expect another bearish movement.

more areas below

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the plan.. I don't know for sure, Let's see

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but the M30 SR area, possibly blocking the price temporarily
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  • #67,877
  • Aug 7, 2017 10:11am Aug 7, 2017 10:11am
Quoting KashifNawaz
{quote} Dear Stars1985, First of all, thanks for your detailed response; much appreciated. I cannot think about option 1 at this stage, I am not in mood to take such a big loss (losing all is acceptable though) :-) I can close a position with maximum loss of -300 $ (my psychological level to bear the loss) Options 2 is applicable only if price will take a small dip before going up till 114 resistance. But at this stage, if I close buy position and then it will be high risk as entire world is saying, USDJPY will go up till 114 and then may will dip....
np I hope you get out of this trap
I need the magic ball
  • #67,878
  • Aug 7, 2017 10:23am Aug 7, 2017 10:23am
Quoting KashifNawaz
{quote} SunTrader, you are right, but I consider myself expert in Forex :-) lolz. Believe me, I have watched almost every video lecture available on the internet to learn forex and researched a lot for 3-4 months and then I successfully traded in demo and converted 2000$ into 2700$ within a month. Just 1 weeks ago started with real account and this happened. I made a mistake, I opened big position ignoring few rules and again my nature (not to accept big loss) thrown me at this point. Will learn from this off course
Every trader "wins" on demo. That, watching internet videos and researching for a 'whopping" 3 to 4 months is not the path to winning. The last thing you said, cutting losses is.
  • #67,879
  • Aug 7, 2017 10:31am Aug 7, 2017 10:31am
Hi guys

I am Monifa from Trinidad and Tobago. The Caribbean. I recently heard about Forex and started trading very small.
  • #67,880
  • Aug 7, 2017 10:37am Aug 7, 2017 10:37am
Quoting monifa
Hi guys I am Monifa from Trinidad and Tobago. The Caribbean. I recently heard about Forex and started trading very small.
hi Monifa not to be mean to you but you bether do some demo and research a strategy if you recently heard about forex
I need the magic ball
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