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USD/JPY Discussion

  • #6,461
  • May 14, 2008 6:37am May 14, 2008 6:37am
I wanna be a wiener...I mean winner!

So there are central banks and businesses and speculators and...
  • #6,462
  • May 14, 2008 6:40am May 14, 2008 6:40am
Actually this is great stuff...need to hear it everyday...

" The COST of these lessons is VERY EXPENSIVE.

The COST is the TIME that you need to take in order to learn how to trade FX properly and be a WINNER in FX and more importantly in LIFE.

G-D Bless All Of You Here On Forex Factory."
  • #6,463
  • May 14, 2008 6:41am May 14, 2008 6:41am
rule 1: so the banks do not want to control inflation. what do they want to do with it then??? if it is just left to run wild, you get hyperinflation adn the economy collapses, right??? look at the housing problem, people were paying too much for property cuz they wanted a house they couldn't afford and then they overbid for it for some absurd reason. soon thereafter, boom, bubble popped. as for printing money with no value??? i do not get that one.

as for the game of making money, i know all about the big boys, we do not affect them much, and when we do, they hammer us by making the markets move against the signals, hit our stops and give us losses etc... they look at long term goals and see where an economy is going and invest accordingly, as i have seen the big boys talk on tv all the time about direction and pricing, unless the talking heads are lying to us????
  • #6,464
  • May 14, 2008 7:05am May 14, 2008 7:05am
Thanks for the lessons Bruce. Are you still short u/j? Daily momentum is strongly UP and weekly momentum is about to change North too with CPI due out later. Test of 108.5 looks increasingly probable before any significant move down. My advice to anyone trading is to look at recent price action and don't make your decisions purely on fundamentals, especially if you are a short-term/swing trader.

Good luck.
  • #6,465
  • May 14, 2008 8:09am May 14, 2008 8:09am
Finally a first sign of reversal back towards the weekly trend. Short since 105.05, sl 105.50, TP1: 104.70, TP2: Open. It would be nice to see a clear break of 104.50 before getting too confident.
  • #6,466
  • May 14, 2008 8:22am May 14, 2008 8:22am
Quoting shajib
Finally a first sign of reversal back towards the weekly trend. Short since 105.05, sl 105.50, TP1: 104.70, TP2: Open. It would be nice to see a clear break of 104.50 before getting too confident.
Nice entry, I'm holding shorts from lower yet and still quite confident this baby is going to drop like a rock. If you look on a daily chart and draw a trendline from the low in February that support the uptrend, you see that it broke through the trendline support and tested that support as resistance last night. It failed, which is a good sign that the tides have changed and she's ready to continue south.
  • #6,467
  • May 14, 2008 8:50am May 14, 2008 8:50am
Quoting FX Foresight
Nice entry, I'm holding shorts from lower yet and still quite confident this baby is going to drop like a rock. If you look on a daily chart and draw a trendline from the low in February that support the uptrend, you see that it broke through the trendline support and tested that support as resistance last night. It failed, which is a good sign that the tides have changed and she's ready to continue south.


Nice catch on that trendline from February. I had the same resistance line drawn on 4H chart but didn't notice it extended all the way back to Feb. Actually I was hoping since we broke out of the rising wedge formation late last week, there would be a stronger rally towards 100 but the change in daily momentum forced me to re-evaluate the situation and wait to re-enter at the top. Still DJ looks bullish and I have just been stopped out of one of my shorts at BE. I will hold the other until we break out of 105.50-70 resistance zone.
  • #6,468
  • May 14, 2008 8:51am May 14, 2008 8:51am
I think its time to load shorts
we have retested the broken trendline for the major move down now!
here is hwta my chart looks like
Attached Image
  • #6,469
  • May 14, 2008 8:56am May 14, 2008 8:56am
Quoting netizensurf
I think its time to load shorts
we have retested the broken trendline for the major move down now!
here is hwta my chart looks like
Well it's back up again.
Expected the unexpected
  • #6,470
  • May 14, 2008 8:59am May 14, 2008 8:59am
Quoting Warren Forex
Good Morning Everyone

I am in the mood to explain the nature of the forex market as it really is.

First and foremost please keep in mind that forex is a real business where large and small organizations come to buy their inventory.

That inventory is MONEY.

Therefore BUYER and SELLER need to determine FAIR MARKET VALUE.

Then the next factor is ALL the central banks of the world that print the MONEY. They all have their own agenda. That agenda is very complex. Many times they try to control things by just putting out signals. Many times the signals do not work since all the market players combined have a lot of power. The KEY for the central banks and mainly the FED is to keep changing perceptions by putting out FALSE DATA.

Why would they do this ?

Folks as a FUNDAMENTAL FX trader let me share a BIG SECRET with all of you not aware of it at present time. The forex market is also among everything else a game. If you want to WIN the game then you must discover the REAL RULES of the game.

RULE ONE:

Understand Inflation. Prices going UP do not cause real inflation. Real inflation is caused by the FED and the other central banks printing money and much too much of it without any value attached.

So when Bernake and the others say that they want to control inflation, they are lying to the markets. If you do not know or understand this than you cannot make money in forex no matter how good you can read the lines which only represent human psychology at the moment and nothing else.

Thanks for the confirmation - I suspected something like this.

RULE TWO: All the other players including the POWERS that BE each have different agendas. Since the main point of the GAME and REAL BUSINESS is to make MONEY the 95% of the uneducated constantly lose to the 5% who either understand the RULES OF THE GAME or actually make them.

I'm trying hard to join the 5% http://www.forexfactory.com/images/icons/icon7.gif

I will stop my lesson for the moment in order to allow for some thoughtful questions from anyone that wants to learn how to be a WINNER financially.

The COST of these lessons is VERY EXPENSIVE.

The COST is the TIME that you need to take in order to learn how to trade FX properly and be a WINNER in FX and more importantly in LIFE.

Agreed, I'm about 10,000 hours along this road!

G-D Bless All Of You Here On Forex Factory.

Bruce
Hi Bruce thanks for the input, I'll be delighted for more lessons and rules to help my progress http://www.forexfactory.com/images/icons/icon14.gif

Regards

Issy
Trading Levels with WRBs
  • #6,471
  • May 14, 2008 9:01am May 14, 2008 9:01am
Quoting scyang
Well it's back up again.
still below the trendline
lets see how this retstest plays out
well i think we would see the move down soon..
  • #6,472
  • May 14, 2008 9:13am May 14, 2008 9:13am
With the DJIA bullish, for now, I look for one more test of that broken trendline before shorting.
Patience + Humility + Study = Success
  • #6,473
  • May 14, 2008 9:16am May 14, 2008 9:16am
Quoting netizensurf
still below the trendline
lets see how this retstest plays out
well i think we would see the move down soon..
Just don't know. This thing looks shaky. Wait for the crude inventory report to see if it will help.
Expected the unexpected
  • #6,474
  • May 14, 2008 9:44am May 14, 2008 9:44am
Quoting DutchTrader
With the DJIA bullish, for now, I look for one more test of that broken trendline before shorting.
can you post chart ? thx
Veni, vidi, vici...
  • #6,475
  • May 14, 2008 9:48am May 14, 2008 9:48am
Downward move not happening. How much longer before it start or we call it quits?
Expected the unexpected
  • #6,476
  • May 14, 2008 9:53am May 14, 2008 9:53am
Warren, good post... The rich do not get "richer" because they are smarter... They get rich because the "dumb get dumber"..... Your post hit home in so many ways concerning our society.... Complacent, mindlessness with an eccentric apathetic need for mere entertainment, aids in, "the powers that be," getting richer... I whole heartily agree that in order to succeed in forex, or life in general, one must look beyond face value, particularly what the powers that be say....
  • #6,477
  • May 14, 2008 10:23am May 14, 2008 10:23am
back to 5sma 4h.. at least..
Veni, vidi, vici...
  • #6,478
  • May 14, 2008 10:26am May 14, 2008 10:26am
Quoting miketodd
Warren, good post... The rich do not get "richer" because they are smarter... They get rich because the "dumb get dumber"..... Your post hit home in so many ways concerning our society.... Complacent, mindlessness with an eccentric apathetic need for mere entertainment, aids in, "the powers that be," getting richer... I whole heartily agree that in order to succeed in forex, or life in general, one must look beyond face value, particularly what the powers that be say....
Words couldnt be truer. If I followed what the Gov. and Bank Presidents and officials said about forex, here in Jamaica, I wud be clueless. Irony is that their non-stop negativity about FOREX out here got me curious. Then I found one of banks published audited financial reports from 2003 amd saw that the bank made a profit from Foreign exchange trade alone. All they say tho, is that it not profitable and the top traders only make 4% for the year and blah blah. I saw an add of a Forex demo and I jumped at it. the guy made 10% in like 30 mins. I was impressed. I may not have been poor and is viewed as middle class but I need investments that compete against inflation.

They only talked about the negatives of FOREX...I was so deperate for a business venture that suited me, as my Job takes alot of my time and after many failed attempts I realised I need something that can work with my career. Forex looked probable. I dabbled and researched then went with the demo. I'm now 1 1/2 month trading live. I lost 67% of the money I started with but I expected that to be the case as now things are coming about. I am no longer timid zero emotions and demo was easy compared to live.

I say:
The rich do not get "richer" because they are smarter... They get rich due to the ignorance of other people.....
  • #6,479
  • Edited 11:28am May 14, 2008 10:59am | Edited 11:28am
learn new thing, n testing now..
ep-105.27
tp-104.94
sl-105.43
now-105.21
Wait trend comes to u
  • #6,480
  • May 14, 2008 11:36am May 14, 2008 11:36am
The way your going you're a fast learner compared to most of us.

Congrats!

Quoting Doose
Words couldnt be truer. If I followed what the Gov. and Bank Presidents and officials said about forex, here in Jamaica, I wud be clueless. Irony is that their non-stop negativity about FOREX out here got me curious. Then I found one of banks published audited financial reports from 2003 amd saw that the bank made a profit from Foreign exchange trade alone. All they say tho, is that it not profitable and the top traders only make 4% for the year and blah blah. I saw an add of a Forex demo and I jumped at it. the guy made 10% in like 30 mins. I was impressed. I may not have been poor and is viewed as middle class but I need investments that compete against inflation.

They only talked about the negatives of FOREX...I was so deperate for a business venture that suited me, as my Job takes alot of my time and after many failed attempts I realised I need something that can work with my career. Forex looked probable. I dabbled and researched then went with the demo. I'm now 1 1/2 month trading live. I lost 67% of the money I started with but I expected that to be the case as now things are coming about. I am no longer timid zero emotions and demo was easy compared to live.

I say:
The rich do not get "richer" because they are smarter... They get rich due to the ignorance of other people.....
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