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USD/JPY Discussion

  • #3,781
  • Aug 21, 2007 9:33pm Aug 21, 2007 9:33pm
Quoting leachimeewg
just to add, 9% of $100 isn't enough to buy a mini lot... i think he meant $1000...
No - he knew what he was saying.....
The Dove - Forex Trainer
  • #3,782
  • Aug 21, 2007 9:35pm Aug 21, 2007 9:35pm
Quoting watermoon
The account was open at the begining of July with $100.
3 trades/day 15 pips each
20 pips of stop loss (this represent 9% of my capital)
the potential for 20 days was $3330.50
But I didn't won every trade and I finished July with a capital of $1651
Now we are at the end of august and my capital is over $6000
At a $100 account, even in the mini, could not buy you $1.00 lot even at 9%.... you need to go back to school..... You see, at a $1.00 lot your risk is 20% and it sure isn't 9%.
The Dove - Forex Trainer
  • #3,783
  • Aug 21, 2007 9:41pm Aug 21, 2007 9:41pm
My account is at Oanda, I don't buy mini lot
I buy units
Example for $100
I buy 4700 units
the value of each pip is .44 this is why I put a stop loss of 20 pips
20 pips= $8.80 or 8.8%
  • #3,784
  • Aug 21, 2007 9:43pm Aug 21, 2007 9:43pm
One thing he forgot about and that is at a 9% risk with a 3 pip retrace on a 100 dollar bill would margin him out in a heart beat with the leverage of 400:1
The Dove - Forex Trainer
  • #3,785
  • Aug 21, 2007 9:44pm Aug 21, 2007 9:44pm
With 4700 units the margin used is $100
but the trade value is $5000 CAD
the leverage of 50:1 make each pip worth .44
  • #3,786
  • Aug 21, 2007 9:45pm Aug 21, 2007 9:45pm
Quoting dove_alliance
One thing he forgot about and that is at a 9% risk with a 3 pip retrace on a 100 dollar bill would margin him out in a heart beat with the leverage of 400:1
I am not playing 400:1 but 50:1
  • #3,787
  • Aug 21, 2007 9:46pm Aug 21, 2007 9:46pm
Quoting watermoon
I am not playing 400:1 but 50:1
You just proved that you need to go back to school - smiling -
The Dove - Forex Trainer
  • #3,788
  • Aug 21, 2007 9:47pm Aug 21, 2007 9:47pm
Hi guys.. any of you in the market at the moment.. ?

Seems to be a big support at 11400 so i guess we would need a break there for a short?

On the upside if it can confirm through 11447 i would think there would be a chance of it going up to 11490?

My charts, which are based on GMT show my central pivot at 11447. I guess it's not an exact science, but do you think i should push them back to the us close time?
  • #3,789
  • Aug 21, 2007 9:47pm Aug 21, 2007 9:47pm
Lol I do not have to go back in school, I am already in school
  • #3,790
  • Aug 21, 2007 9:51pm Aug 21, 2007 9:51pm
Is anyone noticing a decending triangle on their one hour charts??? Planning to short USD/JPY at 114.00 if it breaks through.
"Don't work for your money, but let money work for you."
  • #3,791
  • Aug 21, 2007 9:52pm Aug 21, 2007 9:52pm
Quoting mjolimer
Hi guys.. any of you in the market at the moment.. ?

Seems to be a big support at 11400 so i guess we would need a break there for a short?

On the upside if it can confirm through 11447 i would think there would be a chance of it going up to 11490?

My charts, which are based on GMT show my central pivot at 11447. I guess it's not an exact science, but do you think i should push them back to the us close time?
Well, all I've been doing is scalping 7 pip profit between the two pivots and waiting for the big move, which ever way it goes..... The trend is still sideways so we just have to wait.
The Dove - Forex Trainer
  • #3,792
  • Aug 21, 2007 9:56pm Aug 21, 2007 9:56pm
i think today could be a potential no show.. BOJ meeting for 2 days..
let's wait for london to open to see if that helps the market with some liquidity action..
  • #3,793
  • Aug 21, 2007 9:58pm Aug 21, 2007 9:58pm
Quoting dove_alliance
Well, all I've been doing is scalping 7 pip profit between the two pivots and waiting for the big move, which ever way it goes..... The trend is still sideways so we just have to wait.

thanks. i was doing the same.. are you taking the scalps both ways? i was just taking the short from the top.. but i guess either way is ok.?
  • #3,794
  • Aug 21, 2007 10:01pm Aug 21, 2007 10:01pm
Quoting watermoon
LOL, do you think I am too young for this market?
well I think it is stressful. you may have the brains, but I think you should be worrying about getting laid and partying while your young.
  • #3,795
  • Aug 21, 2007 10:01pm Aug 21, 2007 10:01pm
Quoting mjolimer
thanks. i was doing the same.. are you taking the scalps both ways? i was just taking the short from the top.. but i guess either way is ok.?
Yep - taking them both ways - nothing to worry about without no power.
The Dove - Forex Trainer
  • #3,796
  • Aug 21, 2007 10:04pm Aug 21, 2007 10:04pm
Quoting kreeper_6
well I think it is stressful. you may have the brains, but I think you should be worrying about getting laid and partying while your young.
dude.. i wouldn't worried about getting laid if i'm making an average of 3000% a month

he could well be on his way to being the youngest canadian self made million very soon.. lol..

  • #3,797
  • Aug 21, 2007 10:05pm Aug 21, 2007 10:05pm
It is going to explode very soon, the range is very tight
  • #3,798
  • Aug 21, 2007 10:05pm Aug 21, 2007 10:05pm
I got out of this one with 1 pip.... Bolinger Band is closing in so the risk factor had now become a risk.
The Dove - Forex Trainer
  • #3,799
  • Aug 21, 2007 10:08pm Aug 21, 2007 10:08pm
Quoting watermoon
It is going to explode very soon, the range is very tight
Which way is it going to go - you got a 50-50 chance of getting it right.
The Dove - Forex Trainer
  • #3,800
  • Aug 21, 2007 10:09pm Aug 21, 2007 10:09pm
Quoting dove_alliance
I got out of this one with 1 pip.... Bolinger Band is closing in so the risk factor had now become a risk.
Wow you play like a pro man. I wish I had the guts to scalp at this point
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