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USD/JPY Discussion

  • #74,121
  • Mar 6, 2018 11:11am Mar 6, 2018 11:11am
Quoting mades
what a fucking frustrating day this was on this pair (and others beside eu too)
don't trade when you are frustrated/emotional
Don't Worry Be Happy
  • #74,122
  • Mar 6, 2018 11:13am Mar 6, 2018 11:13am
downtrend in USD/CNH looks interesting
Don't Worry Be Happy
  • #74,123
  • Mar 6, 2018 11:20am Mar 6, 2018 11:20am
The frustrating grinding boredom area is where they are transacting for the next move up or down! This is how they do it. Everytime you think it's gonna move, they rotate on you, and stop the momentum!
  • #74,124
  • Mar 6, 2018 11:24am Mar 6, 2018 11:24am
Quoting mades
what a fucking frustrating day this was on this pair (and others beside eu too)
It has been a tricky week. Maybe because it's NFP week.
Gone to a better place
  • #74,125
  • Mar 6, 2018 11:33am Mar 6, 2018 11:33am
I had a good day with the Yen and the Euro. No complaints here... Not sure what was tricky.
"The fun is in the hunt. Not the kill."
  • #74,126
  • Mar 6, 2018 11:35am Mar 6, 2018 11:35am
Quoting mades
what a fucking frustrating day this was on this pair (and others beside eu too)
I was up early watching when the North Korea news hit. I slammed my desk, probably woke up my roommate, and said "what the hell is going on?" while looking at the FF Calendar. That definitely threw me off. Then I was scared to short the UJ afterwards, which is dumb being the trend has been bearish recently.
  • #74,127
  • Mar 6, 2018 11:35am Mar 6, 2018 11:35am
Quoting mades
what a fucking frustrating day this was on this pair (and others beside eu too)


FOREX PSYCHOLOGY BUDDY. that's how they get your money.

If you want to take this advice from me:" don't trade if you are uncertain" the market has a way of playing with your emotions.

It happens to all of us. but we learn.

If you are frustrated as you were today, get out! even if it means losing some $. Go walk around the house or watch a movie. Come back tomorrow or next week and try again. If you haven't mastered a trading pair yet, then jumping around or not having patience will make you loose more money then what you've anticipated.

For sure we've all loosed money to the USD/JPY in a matter of fact to all pairs which were traded, but eventually after loosing and learning you start making money out of any pair. Most traders can tell you, maybe this happened to you as well, that we often invest a lot of money into the market only to loose it, but the day when you find out why you lost the money to the trade, that's the day when you find out how to make money when the segment would happen again, and as we know the market, it probably will, but this time you'll be in the green.
  • #74,128
  • Mar 6, 2018 11:40am Mar 6, 2018 11:40am
Quoting Redeflect
I had a good day with the Yen and the Euro. No complaints here... Not sure what was tricky.
Hello Redeflect. I have long term Yen longs. You are right. There have been some good moves today. I did well with Euro.
Gone to a better place
  • #74,129
  • Mar 6, 2018 11:41am Mar 6, 2018 11:41am
Quoting unlv_tj
{quote} I was up early watching when the North Korea news hit. I slammed my desk, probably woke up my roommate, and said "what the hell is going on?" while looking at the FF Calendar. That definitely threw me off. Then I was scared to short the UJ afterwards, which is dumb being the trend has been bearish recently.
The possibility of Peace in Korea ruined your day. Only in forex lol.
Gone to a better place
  • #74,130
  • Mar 6, 2018 11:44am Mar 6, 2018 11:44am
Quoting smikester
{quote} The possibility of Peace in Korea ruined your day. Only in forex lol.
LMAO!!!! How sad but true. It is great news, but at the time I was searching all over trying to figure out what the hell was causing such strong moves.
  • #74,131
  • Mar 6, 2018 11:45am Mar 6, 2018 11:45am
Quoting unlv_tj
{quote} I was up early watching when the North Korea news hit. I slammed my desk, probably woke up my roommate, and said "what the hell is going on?" while looking at the FF Calendar. That definitely threw me off. Then I was scared to short the UJ afterwards, which is dumb being the trend has been bearish recently.
lol, sometimes your own mind plays tricks on you. That's why when I see an opportunity to trade and take it, 2 minutes later I see the candle painting against my original thought! I've learned to accept my fate when wrong, but not to second guess myself. Can't tell you how many times the market "scared" me out of a position or taking a position only to see it do exactly what I anticipated. Taming the struggle between your head and your gut is the hardest aspect of trading to learn. Many times when my doubting evil twin arrives to play with my mind, I simply get up from my station and walk away. If I'm not in front of the buttons, I can't push them!!
  • #74,132
  • Mar 6, 2018 11:51am Mar 6, 2018 11:51am
Quoting nealpek
{quote} lol, sometimes your own mind plays tricks on you. That's why when I see an opportunity to trade and take it, 2 minutes later I see the candle painting against my original thought! I've learned to accept my fate when wrong, but not to second guess myself. Can't tell you how many times the market "scared" me out of a position or taking a position only to see it do exactly what I anticipated. Taming the struggle between your head and your gut is the hardest aspect of trading to learn. Many times when my doubting evil twin arrives to play with...
Great wisdom. If I had time, and for those that do, I would recommend just reading Nealpek's comments, and saving them to a text file to read in the future as many times as possible. We are lucky he comes here to post and share. Thank you.

The struggle between your head and gut is certainly a very tough battle. I have been working with meditation to work on thinking in the now with my frontal lobe, and then doing self hypnosis. At least today when I saw the moves I wasn't as upset as I would get in the past, I am making progress. But not taking the UJ short tells me I have more work to do.
  • #74,133
  • Mar 6, 2018 12:06pm Mar 6, 2018 12:06pm
What a play! All of a sudden the dow, s and p, U/j and probably every other currency, just made a move like I showed you previously. Just swung up to clean and sweep. If the first one didn't piss you off, this certainly did. Just put all the shorts for the last 3 hours in jeoparady. You gotta love trading!!
  • #74,134
  • Mar 6, 2018 12:09pm Mar 6, 2018 12:09pm
Quoting nealpek
What a play! All of a sudden the dow, s and p, U/j and probably every other currency, just made a move like I showed you previously. Just swung up to clean and sweep. If the first one didn't piss you off, this certainly did. Just put all the shorts for the last 3 hours in jeoparady. You gotta love trading!!
I saw the move on EU and UJ and thought about what you said about the big boys pushing opposite to clear stops and load up.
  • #74,135
  • Mar 6, 2018 12:10pm Mar 6, 2018 12:10pm
Yes your lucky some of us post here. Trading is 90% psychological if you are a manual trader. The best traders in the world are very tough mentally and Can handle large draw downs if required overnight as well . More experience you gather in these situations in a live account better trader you will become. Those who panic or have no confidence will fail, no matter what strategy you take up . The way you trade also has match your personality. Psychology is the hardest part for new traders as they easily panic and get out of positions too early.
  • #74,136
  • Mar 6, 2018 12:32pm Mar 6, 2018 12:32pm
UNLV, if this was in fact a cleaning, You are now sitting on top of a short. Not telling you to take the trade, but if a market was going to continue down, this is the move before it does! Just saying....You don't have to trade it, Just make a note of the area and see what happens after this...
  • #74,137
  • Mar 6, 2018 12:41pm Mar 6, 2018 12:41pm
Quoting nealpek
UNLV, if this was in fact a cleaning, You are now sitting on top of a short. Not telling you to take the trade, but if a market was going to continue down, this is the move before it does! Just saying....You don't have to trade it, Just make a note of the area and see what happens after this...
Yea, and I wouldn't personally short it at this time because price has now returned to the 15 Supply for a 3rd time, with a strong bullish move and after the London traders have called it a day.

Doesn't mean I will not watch with great interest and see what it does. If I was going to trade, I would want to see some strong selling come in on the 5M/1M and then a retrace to trapped buyers.
  • #74,138
  • Mar 6, 2018 12:45pm Mar 6, 2018 12:45pm
I hear you! Just remember , the hardest trades to take are when everything looks like you are wrong, and they usually end up as the best trades!
  • #74,139
  • Mar 6, 2018 12:50pm Mar 6, 2018 12:50pm
I saw the entry on 1M, waiting to see if it gets to 106.08
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  • #74,140
  • Mar 6, 2018 12:58pm Mar 6, 2018 12:58pm
Quoting Redeflect
I had a good day with the Yen and the Euro. No complaints here... Not sure what was tricky.
Well done Redeflect confidence I love it.
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