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USD/JPY Discussion

  • #2,741
  • Aug 14, 2007 10:47pm Aug 14, 2007 10:47pm
Quoting jasonowl
Err.. put a Faster MA (say 4) and Slower MA (say 8).. wait for lines to cross... on the 5min Chart (for short term)

This is a very very rough idea, and while I'm typing this, you'd see why Dove said that the move up was a retracement.
And if you put the above MAs, you'd see the lines DIDN'T cross for the move up.

Don't flame me for this Its just a quick and Dirty way... u need other indicators...
I have the above MA's crossing on my chart on the 5 minute. What is your opinion?
  • #2,742
  • Aug 14, 2007 10:51pm Aug 14, 2007 10:51pm
Quoting bravado
i am always right.

even the market can't prove me wrong. my stoploss will shut it clean before IT can even speak.
you'll never find me saying "of course i could be wrong" or "it could go the other way" or "market is unpredictable" or you get the idea.

why would i trade if i had doubt.

this is MY trade.

bravado.
a pro.
True. You gotta own it, whatever it is, one cannot accomplish it unless one owns it.
Patience + Humility + Study = Success
  • #2,743
  • Aug 14, 2007 10:51pm Aug 14, 2007 10:51pm
MAs are already known to be laggy... it's just one of the indicators for trending.
Then you start taking the same MAs and move it up the different timeframes, its gives you better general view, of which side of the trades you want to WAIT for.

My 2 cents, right now.. still consolidation.
If you trade the MA on the 5mins you may be whipped sawed around.

Quoting southernmind
I have the above MA's crossing on my chart on the 5 minute. What is your opinion?
Chances favour the prepared.
  • #2,744
  • Aug 14, 2007 10:57pm Aug 14, 2007 10:57pm
Quoting Trader KGB
For a scalp or position trade?
trades start out as just that. taking a trade.
then what follows could be short or long term.

so i have no intent atm. market behavior will show the way.
BAM BAM BOOM! -bravado
  • #2,745
  • Aug 14, 2007 10:58pm Aug 14, 2007 10:58pm
Quoting karmostaji
I love your attitude
appreciate the comment karmo.
BAM BAM BOOM! -bravado
  • #2,746
  • Aug 14, 2007 11:00pm Aug 14, 2007 11:00pm
Quoting DutchTrader
True. You gotta own it, whatever it is, one cannot accomplish it unless one owns it.
indeed.
BAM BAM BOOM! -bravado
  • #2,747
  • Aug 14, 2007 11:07pm Aug 14, 2007 11:07pm
Well Jason - I figure for you to be the bright one catching those 20 pip profit between those pivots - smiling
The Dove - Forex Trainer
  • #2,748
  • Aug 14, 2007 11:20pm Aug 14, 2007 11:20pm
Quoting bravado
i am always right.
96.30..
  • #2,749
  • Aug 14, 2007 11:23pm Aug 14, 2007 11:23pm
I have been with you guys now for a month and I hope everyone is in the trade on this down - if you're not then it is not my fault..... You have learn about pivots and what the movement will do when those pivots are hit. It does it every time without failure.
The Dove - Forex Trainer
  • #2,750
  • Aug 14, 2007 11:49pm Aug 14, 2007 11:49pm
Seems like that last move took everybody by storm... *sudden silence*

For those without a position already... take it easy.. don't rush otherwise .. my 2 cents ... adrenaline pumping always clouds your brains ..
Chances favour the prepared.
  • #2,751
  • Aug 14, 2007 11:55pm Aug 14, 2007 11:55pm
If u feel u've got the nerves of steel.
Switch to 1 - 3min charts... trade the bollinger...

BE WARNED... its just suggestive.. cause you won't be able to catch the "breakouts"
Chances favour the prepared.
  • #2,752
  • Aug 14, 2007 11:58pm Aug 14, 2007 11:58pm
Congrats to all who are well in the green on this one - put a 20 pip trailer on this sucker and wake up rich... well, almost.
  • #2,753
  • Aug 15, 2007 12:03am Aug 15, 2007 12:03am
Quoting jasonowl
If u feel u've got the nerves of steel.
Switch to 1 - 3min charts... trade the bollinger...

BE WARNED... its just suggestive.. cause you won't be able to catch the "breakouts"
Smiling - that is a good one.
The Dove - Forex Trainer
  • #2,754
  • Aug 15, 2007 12:09am Aug 15, 2007 12:09am
Yup, I'm picking up the as what u put it.. nice Cherries.. or what we can also call low hanging fruit.. haha *Smiling*

Quoting dove_alliance
Smiling - that is a good one.
Chances favour the prepared.
  • #2,755
  • Aug 15, 2007 12:14am Aug 15, 2007 12:14am
Quoting jasonowl
If u feel u've got the nerves of steel.
Switch to 1 - 3min charts... trade the bollinger...

BE WARNED... its just suggestive.. cause you won't be able to catch the "breakouts"
Hi Jason,

Dove mentioned he has BB's on his chart set at 15, so I added them to mine with the SD set at 2, but I have never really understood how to use them on a short term basis.

Can you point me in the direction of any useful reference material or give me and indication of how you are using them in your trading.

Thanks,

G-Man
  • #2,756
  • Aug 15, 2007 12:33am Aug 15, 2007 12:33am
It's definitely not for the faint hearted, and you are normally looking at small pips pickup, because you can never be absolutely perfect. So if you know ur range is about 10-15 pips, then you should be targeting 5-7 pips as profit, coz the movement is erratic.

And you use the bands as your guide to Buy (BB Bottom) or Sell (BB Top)... and never forget the general trend, and concentrate on taking trades going that direction...

Again, there are many methods, not too sure how Dove exactly does his but, it will take practice, and PLEASE PLEASE, try out with SMALL positions or DEMO account.

Lastly, whether its 20,15,12 is just a moving average as a guide, any MA is laggy!!!!

Cheers. Hope this help

Quoting G-Man
Hi Jason,

Dove mentioned he has BB's on his chart set at 15, so I added them to mine with the SD set at 2, but I have never really understood how to use them on a short term basis.

Can you point me in the direction of any useful reference material or give me and indication of how you are using them in your trading.

Thanks,

G-Man
Chances favour the prepared.
  • #2,757
  • Aug 15, 2007 12:40am Aug 15, 2007 12:40am
Quoting jasonowl
It's definitely not for the faint hearted, and you are normally looking at small pips pickup, because you can never be absolutely perfect. So if you know ur range is about 10-15 pips, then you should be targeting 5-7 pips as profit, coz the movement is erratic.

And you use the bands as your guide to Buy (BB Bottom) or Sell (BB Top)... and never forget the general trend, and concentrate on taking trades going that direction...

Again, there are many methods, not too sure how Dove exactly does his but, it will take practice, and PLEASE PLEASE, try out with SMALL positions or DEMO account.

Lastly, whether its 20,15,12 is just a moving average as a guide, any MA is laggy!!!!

Cheers. Hope this help
Thanks Jason.

So essentially you use the bands to provide point of entry on retraces to the main trend. As today is currently a downtrend you would be selling when the price touches the upper band.

Presumably other timeframes are useable here as I don't have the 3 min so I will look at this for a few days to see if I can get a feel for it.

Thanks,

G-Man
  • #2,758
  • Aug 15, 2007 12:41am Aug 15, 2007 12:41am
I got in on at the 70 and It has been looking real good since.
The Dove - Forex Trainer
  • #2,759
  • Aug 15, 2007 12:43am Aug 15, 2007 12:43am
I just love it..... The 117.00 becomes a pivot and now it wants to play hard ball.
The Dove - Forex Trainer
  • #2,760
  • Aug 15, 2007 12:47am Aug 15, 2007 12:47am
Quoting dove_alliance
I just love it..... The 117.00 becomes a pivot and now it wants to play hard ball.
patience, it will soften up in a while
Trade what you see, not what you think.
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