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USD/JPY Discussion

  • #421
  • Jul 6, 2007 6:28am Jul 6, 2007 6:28am
still hanging tough.
quote of the day: . It's like deja-vu all over again
  • #422
  • Jul 6, 2007 6:31am Jul 6, 2007 6:31am
wow UJ move 30+ pips already...
  • #423
  • Jul 6, 2007 6:34am Jul 6, 2007 6:34am
Quoting cesarnc
Partials in the bank. 40 / 26 / 32 pips....

Back after NFP
Chicken! I wish we had a chicken smiley for moments like this, traders chickening out before the mighty NFP. Having made this bold statement, I'm out in another half hour, 52 + 94 pips this session, not a bad dip at all
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #424
  • Jul 6, 2007 6:43am Jul 6, 2007 6:43am
Quoting Plutonite
Chicken! I wish we had a chicken smiley for moments like this, traders chickening out before the mighty NFP. Having made this bold statement, I'm out in another half hour, 52 + 94 pips this session, not a bad dip at all
Po Po Po...

I chickened out because my floating P/L was already way beyond my weekly target.

And this #@$#%@#$%@#$%@ NFP can sure as hell, eat your entire week
  • #425
  • Jul 6, 2007 6:51am Jul 6, 2007 6:51am
$/JPY trading bid above 123.30, nt resistance comes in around 123.50
  • #426
  • Jul 6, 2007 6:51am Jul 6, 2007 6:51am
Quoting cesarnc
Po Po Po...

I chickened out because my floating P/L was already way beyond my weekly target.

And this #@$#%@#$%@#$%@ NFP can sure as hell, eat your entire week
It sure can. What I'm thinking to do this time (I always try out new things with the NFP) is to ignore it completely and just go on trading. After all I do consider random numbers in my trading "style", and it seems to be pretty random to me.

Good luck.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #427
  • Jul 6, 2007 6:59am Jul 6, 2007 6:59am
Quoting Plutonite
It sure can. What I'm thinking to do this time (I always try out new things with the NFP) is to ignore it completely and just go on trading. After all I do consider random numbers in my trading "style", and it seems to be pretty random to me.

Good luck.
Likewise

NFP a lottery, indeed... the revision, when it comes with large deviation from the previous is what makes NFP nasty.

When this does not happen, then it is a safe 40-50 pips.
  • #428
  • Jul 6, 2007 8:23am Jul 6, 2007 8:23am
mother@#$@ing NFP screwed my profit for the week. I'm now back to where i started. I'm done trading this beast.
DONE, Fin
100% of traders are losers. Just that some win more than they lose!
  • #429
  • Jul 6, 2007 8:32am Jul 6, 2007 8:32am
Quoting Mr demark
mother@#$@ing NFP screwed my profit for the week. I'm now back to where i started. I'm done trading this beast.
DONE, Fin
You shorted UJ?
  • #430
  • Jul 6, 2007 8:46am Jul 6, 2007 8:46am
I'm out for the week. Sorry for your loss Demark. See you guys monday.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #431
  • Jul 6, 2007 11:02am Jul 6, 2007 11:02am
Quoting cesarnc
You shorted UJ?
no, gbp and eur. but got a bad fill

but guess what, I went long and got 20 and 30 (29 really) on eurusd and gbpusd respectively. So i'm up 0.85 % today
100% of traders are losers. Just that some win more than they lose!
  • #432
  • Jul 6, 2007 1:22pm Jul 6, 2007 1:22pm
Quoting Mr demark
mother@#$@ing NFP screwed my profit for the week. I'm now back to where i started. I'm done trading this beast.
DONE, Fin
yeah, fu_(*@#(*&)#@&(*)$# a$$)@*#)((*&$#W
  • #433
  • Jul 6, 2007 1:30pm Jul 6, 2007 1:30pm
Quoting Mr demark
mother@#$@ing NFP screwed my profit for the week. I'm now back to where i started. I'm done trading this beast.
DONE, Fin
You signatures reads "Money Management is key"... but wouldnt you agree that holding positions open through the NFP (which is nothing but a lottery) goes against that very principle?
  • #434
  • Jul 6, 2007 2:44pm Jul 6, 2007 2:44pm
Quoting WTB
You signatures reads "Money Management is key"... but wouldnt you agree that holding positions open through the NFP (which is nothing but a lottery) goes against that very principle?
The release per se was already a lottery. Then the revision started weighting as another lottery. Now the market reaction itself has proven to be another one.

Put lottery probabilities one over the other, and trading NFP is becoming really nasty.

"Fire-and-forget" is definitely ruled out.
  • #435
  • Jul 7, 2007 12:41pm Jul 7, 2007 12:41pm
I personally exited a USDJPY position at +4 pips prior the NFP because I am not up to risk my money with that lottery. It looked like a good entry from a technical point of view, but common sense > T.A. in my opinion!
  • #436
  • Jul 7, 2007 12:59pm Jul 7, 2007 12:59pm
I suppose it depends on what sort of trade you're making.

I suspect we may have found a bottom here and was willing to have price action close it out rather than manually close and lose position on the basis of a news event.
quote of the day: . It's like deja-vu all over again
  • #437
  • Jul 7, 2007 1:16pm Jul 7, 2007 1:16pm
http://img130.imageshack.us/img130/8198/ujie7.png
Trade what you see, not what you think.
  • #438
  • Jul 8, 2007 10:05pm Jul 8, 2007 10:05pm
Hope the weekend was good.
Who're the lucky ones still holding on to their LONGS.

Gotta get into the groove once again for the trades ahead.
Cheers!
Chances favour the prepared.
  • #439
  • Jul 8, 2007 10:27pm Jul 8, 2007 10:27pm
Yeah im still holding a good sum...so far UJ has been cover my ass quite well for all the losers that im making trading the Euros and Sterling lol
  • #440
  • Jul 9, 2007 12:01am Jul 9, 2007 12:01am
Good JPY data but what the *()@#*(&*(#$(*, but YEN getting weaker.
I don't know what those monkeys doing at BOJ.

Go, raise the interest rate to 2%...
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