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USD/JPY Discussion

  • #2,421
  • Aug 12, 2007 3:55pm Aug 12, 2007 3:55pm
Quoting DutchTrader
I agree, and disagree. Long term trends can work, depending on how much liquidity you have at your disposal. If you're a day trader, then 24hrs is indeed all you need to worry about. If you're a long term spot buyer with a large account you are able to utilize any time frame in order to achieve your long term objective.

My friend who works at a major firm on Wall St, uses various time frames at his desk. Of course they were swimming in a deep pool of liquidity, at least 3 weeks ago they were, lol.
I have much liquidity and I do not risk it on something that may or may not happen...... This market is to radical with volatility that can break you in a heart beat for those who do not have the liquidity. Compounding trades is what builds liquidity in an account; not long term.
The Dove - Forex Trainer
  • #2,422
  • Aug 12, 2007 3:55pm Aug 12, 2007 3:55pm
Dove alliance you have a point. A great trader I know made poignant decisions based on data available at the present time, but could stay in a trade for weeks based on his decision. I was just trying to point out the magnetism this area might hold. In my brief experience I've noticed that areas like these do get touched because traders like me focus on them. But this may not always be the case, and whatever happens happens, but we are all trying to predict the future, in our own way.
  • #2,423
  • Aug 12, 2007 3:56pm Aug 12, 2007 3:56pm
I agree with both posts above.

I think the key here, and what essentially Dove was referring to, is not to confuse timeframes. If you have a monthly timeframe focus on 115.50, and you see it hit on a 5 min chart and go 'hey, its hit this target, lets go long' with your usual parameters based on short term trading then this is a good chance you will be stopped out because you would need more space to allow your trade to develop because it was based on a longer term pattern.

There is plenty of evidence and trading methods that support multi-timeframe trading, but don't get timeframes mixed up.

Here's to a good weeks trading all.

G-Man
  • #2,424
  • Aug 12, 2007 3:57pm Aug 12, 2007 3:57pm
The same here,

It is like forecasting wheater - it is easier to forecast what will happen tommorow and what will happen on next week or month.

On the other hand Dove - as I quoted you,you once wrote "look where 200 MA is,that is where we go on AUG" - something like that (it was on late JULY)

Wasn't it forecasting price action above your 24h view ?

And also this :

And trend lines on these charts are minimal for a true knowledge of what is really happening for the moment

So what should I look at in your opinion ? Besides things you wrote us (I mean pivots)
  • #2,425
  • Aug 12, 2007 3:58pm Aug 12, 2007 3:58pm
Quoting dove_alliance
I have much liquidity and I do not risk it on something that may or may not happen...... This market is to radical with volatility that can break you in a heart beat for those who do not have the liquidity. Compounding trades is what builds liquidity in an account; not long term.
I have no clue what you're saying, but hey to each their own. If you can match a Wall St. firms liquidity, good for you and certainly I can't fault you for your line of thinking.
Patience + Humility + Study = Success
  • #2,426
  • Aug 12, 2007 4:01pm Aug 12, 2007 4:01pm
Quoting G-Man
I agree with both posts above.

I think the key here, and what essentially Dove was referring to, is not to confuse timeframes. If you have a monthly timeframe focus on 115.50, and you see it hit on a 5 min chart and go 'hey, its hit this target, lets go long' with your usual parameters based on short term trading then this is a good chance you will be stopped out because you would need more space to allow your trade to develop because it was based on a longer term pattern.

There is plenty of evidence and trading methods that support multi-timeframe trading, but don't get timeframes mixed up.

Here's to a good weeks trading all.

G-Man
I agree with not confusing timeframes, however I doubt that banks just go around focusing on what happens today. If they did there'd be no one going long and there'd be no market. Small guys, those not trading 100s of millions have a very different frame of reference that is indeed rooted in the short term. However that doesn't invalidate long term currency views.
Patience + Humility + Study = Success
  • #2,427
  • Aug 12, 2007 4:04pm Aug 12, 2007 4:04pm
Quoting HeavensGate
Dove alliance you have a point. A great trader I know made poignant decisions based on data available at the present time, but could stay in a trade for weeks based on his decision. I was just trying to point out the magnetism this area might hold. In my brief experience I've noticed that areas like these do get touched because traders like me focus on them. But this may not always be the case, and whatever happens happens, but we are all trying to predict the future, in our own way.
I understand where everyone is coming from..... Each trader has his/her own strategy and system..... If you was a banker or an investor with lots and lots of money then go ahead and take the risk factor. As myself, why should I risk when the short term gives up more pips......
The Dove - Forex Trainer
  • #2,428
  • Aug 12, 2007 4:08pm Aug 12, 2007 4:08pm
it would be nice if someone could post Daily Pivots and Weekly for upcoming week

I just want to check them with mine

thx in advance
  • #2,429
  • Aug 12, 2007 4:37pm Aug 12, 2007 4:37pm
Quoting PolishTrader
it would be nice if someone could post Daily Pivots and Weekly for upcoming week

I just want to check them with mine

thx in advance

Here is the link Dove gave us for calculating pivots
http://www.bestvistadownloads.com/so...-uyiktrtd.html

I downloaded to my computer but I get an error message
"application failed to initialize"
what does that mean?
  • #2,430
  • Aug 12, 2007 6:48pm Aug 12, 2007 6:48pm
For a few minutes here I’m going to talk about strategy in which I will give an account of the movements you have been watching…… The daily central pivot is 118.21. The daily pivot is 118.04. The weekly central pivot is 118.35 and the weekly pivot is 118.47…..

On Sundays I get in the market around 17:00, if I’m not busy such as today…… I placed an entry at 118.25 with a limit for the weekly pivot 118.47….. It took me out with the profit and then I waited for the indicators to tell me to get back in for the short, in which I did at the118.44 with a limit set for the daily central 118.21….. And now I am in the wait mode for the indicators to tell me when to get back in…… With an announcement for the Yen at 7:50 pm ET, I will continue to wait until after the announcement …
The Dove - Forex Trainer
  • #2,431
  • Aug 12, 2007 6:53pm Aug 12, 2007 6:53pm
Could anyone please tell how to calculate daily central pivot?
Thanking you all .
BANDA333
  • #2,432
  • Aug 12, 2007 6:58pm Aug 12, 2007 6:58pm
Quoting BANDA
Could anyone please tell how to calculate daily central pivot?
Thanking you all .
You seriously have got to be JOKING...right?

READ OR DO A SEARCH MAYBE!
  • #2,433
  • Aug 12, 2007 6:59pm Aug 12, 2007 6:59pm
During the week - open candle at 17:00 ET

For monday = sunday 17:00 ET candel open
  • #2,434
  • Aug 12, 2007 7:02pm Aug 12, 2007 7:02pm
Quoting dove_alliance
For a few minutes here I’m going to talk about strategy in which I will give an account of the movements you have been watching…… The daily central pivot is 118.21. The daily pivot is 118.04. The weekly central pivot is 118.35 and the weekly pivot is 118.47…..

On Sundays I get in the market around 17:00, if I’m not busy such as today…… I placed an entry at 118.25 with a limit for the weekly pivot 118.47….. It took me out with the profit and then I waited for the indicators to tell me to get back in for the short, in which I did at the118.44 with a limit set for the daily central 118.21….. And now I am in the wait mode for the indicators to tell me when to get back in…… With an announcement for the Yen at 7:50 pm ET, I will continue to wait until after the announcement …
I got a weekly central pivot of 118.20 and a weekly pivot of 118.39... How did you get your results?
  • #2,435
  • Aug 12, 2007 7:03pm Aug 12, 2007 7:03pm
Thank you polish. Could you please tell difference between daily and daily central pivot?
Thank you very much
BANDA333
  • #2,436
  • Aug 12, 2007 7:12pm Aug 12, 2007 7:12pm
I figured it out... I used the wrong close
  • #2,437
  • Aug 12, 2007 7:14pm Aug 12, 2007 7:14pm
Daily Pivot Point is calculated through formula = High+Low+Close/3

Daily Central Point is as I wrote you 17 ET OPEN

Why Dove choose that hour ... ask Dove ?
  • #2,438
  • Aug 12, 2007 7:19pm Aug 12, 2007 7:19pm
Polish thank you very much, den kukeye, Zapazeba
Thank you.
BANDA333
  • #2,439
  • Aug 12, 2007 7:19pm Aug 12, 2007 7:19pm
Hi i've been reading your recent posts and there must be something wrong with the tools i am using. My broker uses netdania charts and i set them at ET time so i can use it to calculate pivots... but so far, i get different number fr ur posts. i also tried to download the calculator but the page said it's not there anymore....

In the meantime, i'm trying to find the pivot points forex factory posts but i don't know where to find it... i just need to check it against what i have.

thanks a lot
  • #2,440
  • Aug 12, 2007 7:27pm Aug 12, 2007 7:27pm
Quoting PolishTrader
Daily Pivot Point is calculated through formula = High+Low+Close/3

Daily Central Point is as I wrote you 17 ET OPEN

Why Dove choose that hour ... ask Dove ?
Two reasons (1) by international regulations the new daily candle suppose to pop up at 17:00 ET. (2) The cost of carry on the interest happens at 17:00 ET.
The Dove - Forex Trainer
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