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USD/JPY Discussion

  • #7,701
  • Jun 10, 2008 1:12pm Jun 10, 2008 1:12pm
Quoting Firstboss
The nearest resistance and a strong one lies at 107.63 (weekly R2), and 107.64 (daily R2). I don't see it break above before the close of NY session.
Approach of the 107.6 area would be a good time to take profit on the longs to use the most likely retracement to the new daily pivot point for another long entry.
Very good...... Here is a good trader...... Only thing I would take profit between the 40 and 45
The Dove - Forex Trainer
  • #7,702
  • Jun 10, 2008 1:15pm Jun 10, 2008 1:15pm
Anyone who has lost in the last few days this post is directed at you.

I have done the exact thing that most of you are doing now. You are trading without a trade plan. That includes entry points and exit points. You can hold for a large drawdown and be patient until it returns but that is the wrong way to trade. Using the charts help as does really understanding the fundamentals as I do and I see now some of you also are starting to understand it.

Now WE MUST FOCUS on Money Management that I see VERY FEW want to understand or do not know how. The ones that understand are not offering any advice.

That is why I wanted the serious ones to open a demo account so I could teach them properly without loss of real funds.

I am still willing bto do that but you need to show your interest by doing your part.

I await some feedback.


Bruce
{Promotion Removed}
  • #7,703
  • Jun 10, 2008 1:22pm Jun 10, 2008 1:22pm
Quoting Warren Forex
...there are always things that occur that were not planned for.

The FED and the US Government was out in force TALKING UP the US Dollar since last week. Why ? The answers have been posted on this thread. SURPRISE, The Bank Of Canada was to cut 25 basis points and did not.

The FED is TRAPPED like sinking RATS in a boat. They are not RATS, just Bankers. I would not want to insult RATS on Forex Forum.

Of course you would. I will show you how to make money if only you would listen and not continue on in your old ways. If you are winning now like The Dove is then just go on winning your 100 PIPS per day.

I await your comments !!!

Bruce
just relax bruce.. you've been saying that argument since more than one week ago and believe me that i read each and every post and i agree that will happen. PATIENCE.!

also, THIS is for everyone.. i think you are very obsessed with price targets and so... This thing goes UP and DOWN everytime !! anyone with a simple analysis, who sticks to the plan and overcomes the pressure wins despite of the direction of the trend.

dove got 100 pips today, and schminner... well, he maybe had won tomorrow or next week if he sticked to his plan.. lol
... /$ -> LONG
  • #7,704
  • Jun 10, 2008 1:23pm Jun 10, 2008 1:23pm
Quoting dove_alliance
I have listen to you for months on end and all you do is promise to make everyone a good trader but you haven't done so yet....... You keep feeding garbage and enough is enough....... Become a trader and then think about helping people.
LOL ... the way my trades are going right now, I'll have no choice but to eat garbage ...
  • #7,705
  • Jun 10, 2008 1:26pm Jun 10, 2008 1:26pm
Quoting Warren Forex
Anyone who has lost in the last few days this post is directed at you.

I have done the exact thing that most of you are doing now. You are trading without a trade plan. That includes entry points and exit points. You can hold for a large drawdown and be patient until it returns but that is the wrong way to trade. Using the charts help as does really understanding the fundamentals as I do and I see now some of you also are starting to understand it.

Now WE MUST FOCUS on Money Management that I see VERY FEW want to understand or do not know how. The ones that understand are not offering any advice.

That is why I wanted the serious ones to open a demo account so I could teach them properly without loss of real funds.

I am still willing bto do that but you need to show your interest by doing your part.

I await some feedback.


Bruce
INTERESTING; Here is the comment that brought me on to this thread and now you give a different story.......

Posted by: Warren Forex
On: Jun 8, 2008 9:49am


---Quote (Originally by stanru)---
If we pas 105.70 level, 107….. Is possible.
---End Quote---

I choose this post to reply to for a specific reason.

I shorted USD/JPY at 106.30 and got a quick profit of 75 PIPS when it hit 105.55 on Friday. It actually closed at 104.98

I again suggest very strongly that you cannot win in Forex if you use the charts to tell you it might go to 107.00

The charts can and do change in a flash. 95% of all forex traders lose trading.

Why am I bothering to mention it again ?

I really am trying to turn losers (Financially) into Winners !!!

The most interesting thing for me in making these last comments that Winners in life can be Winners in Forex. However losers in Life cannot be Winners in Forex.

Why is that ? Forex trading is a way of life. How you think ! How you deal with your emotions !

In other words the charts telling you it is going to 107.00 or not only has a small part to play. At the most 25% of Forex trading envolves proper use of the charts.

You see what I am saying...... My charts said it was going to the 107.00 and I said so and you didn't like it.......
The Dove - Forex Trainer
  • #7,706
  • Jun 10, 2008 1:29pm Jun 10, 2008 1:29pm
OUCH!!!!!
  • #7,707
  • Jun 10, 2008 1:33pm Jun 10, 2008 1:33pm
Quoting dove_alliance
Very good...... Here is a good trader...... Only thing I would take profit between the 40 and 45
Wow, thanks for the compliment... I see why you say the current price is better for taking profit (closed at 107.42) - the short-term charts have lost momentum.
In case it breaks above though 107.6 is the near-term limit
"Luxury is one of the basic needs", (c), Don Corleone
  • #7,708
  • Jun 10, 2008 1:36pm Jun 10, 2008 1:36pm
dove and bruce, please stop fighting and start sharing ideas... it would be nice that everyone on this thread make a team and discuss different trading styles.. we are here to win against the market not against other traders.

im new to this forum and dont know you dove, i would like to read your argument why is usdjpy still going up ¿? ...
... /$ -> LONG
  • #7,709
  • Jun 10, 2008 1:39pm Jun 10, 2008 1:39pm
Quoting MaZae
dove and bruce, please stop fighting and start sharing ideas... it would be nice that everyone on this thread make a team and discuss different trading styles.. we are here to win against the market not against other traders.

im new to this forum and dont know you dove, i would like to read your argument why is usdjpy still going up ¿? ...
Because the dollar is quenching the EUR right now.
The Dove - Forex Trainer
  • #7,710
  • Jun 10, 2008 1:40pm Jun 10, 2008 1:40pm
Quoting Schminner
LOL ... the way my trades are going right now, I'll have no choice but to eat garbage ...
At least you still have your sense of humor! hahah
  • #7,711
  • Jun 10, 2008 1:44pm Jun 10, 2008 1:44pm
Since yesterday morning the dollar had already taken the EUR for almost 400 pips and still going...... This does affect the Yen.......
The Dove - Forex Trainer
  • #7,712
  • Jun 10, 2008 1:47pm Jun 10, 2008 1:47pm
Quoting Schminner
LOL ... I'm in the same boat .... what really sucks is that the boat is gradually sinking ...
You are a great indicator yourself as you yourself said. Just trade the opposite way from you is a good indicator. Seriously though I see you are letting your positions run without using stop losses.

You need to change that now. You should not risk more than 5% of your capital on any one Trade Plan. You need to use STOPS and once you lose wait at least 25 PIPS higher before you enter again though this can not be a general rule. Why don't you open a demo account to practise on. NEVER trade more than 25% of your total funds to surely avoid a margin call. At worst do not take more than a 50 PIP loss on one position of 100K. You can always go back in when your FEAR of losing it all is there.

Do you understand me ?


Bruce
{Promotion Removed}
  • #7,713
  • Jun 10, 2008 1:52pm Jun 10, 2008 1:52pm
Quoting dove_alliance
Because the dollar is quenching the EUR right now.
(thanks for your comment)

yeap, that's true... but when it stops quenching the euro, are you shorting UJ?? if its a yes, what are your targets?.. if not, are you waiting for another signal, going long again after a reversal or what?

im planning to short again usdjpy when euro stops going down [maybe at 1.5400 +/- 20 pips] or after seeing the news on thursday. my targets will be below 105.50 in case i short again using a trailing stop this time
... /$ -> LONG
  • #7,714
  • Jun 10, 2008 1:53pm Jun 10, 2008 1:53pm
Quoting MaZae
dove and bruce, please stop fighting and start sharing ideas... it would be nice that everyone on this thread make a team and discuss different trading styles.. we are here to win against the market not against other traders.

im new to this forum and dont know you dove, i would like to read your argument why is usdjpy still going up ¿? ...
Mate Dove is a very respected trader here on forex factory..he trades on pivot and fibs.....mostly from what I can remember..and hit rates were very good..I mean extremely good learnt loads from him back in the day..
I think dove hates these sort of conflicts thats why he stopped posting...
Anyway good luck brov
Rav
  • #7,715
  • Jun 10, 2008 1:55pm Jun 10, 2008 1:55pm
i think 107.40 area is good area to short.

unless the oil keep going down tomorrow then it might delay the fall and keep going to 108
  • #7,716
  • Jun 10, 2008 2:00pm Jun 10, 2008 2:00pm
Quoting MaZae
(thanks for your comment)

yeap, that's true... but when it stops quenching the euro, are you shorting UJ?? if its a yes, what are your targets?.. if not, are you waiting for another signal, going long again after a reversal or what?

im planning to short again usdjpy when euro stops going down [maybe at 1.5400 +/- 20 pips] or after seeing the news on thursday. my targets will be below 105.50 in case i short again using a trailing stop this time
There is no way that anyone can predict this market..... What I can do is forecast the movement within a 24 hour period after the the new pivots are set at 17:00 ET.... Using the daily trend and the pivots I can pretty much place my trades in the direction it is going..... There are times that the movement is sideways and when that happens I am out of it until the channel is broken...... And that can take as much as 18 hours or more..... Pivots and trends is all I use in my trading along with using Moving Averages keeping me focus on the trends...... As for predicting...... leave me out.
The Dove - Forex Trainer
  • #7,717
  • Jun 10, 2008 2:02pm Jun 10, 2008 2:02pm
USD/JPY's rally continues and extend further to as high as 107.14 so far. At this point, intraday bias remains on the upside as long as 105.94 minor support holds. Further rise is now expected to be seen towards 108.59 medium term resistance. On the downside, below 105.94 will turn intraday outlook neutral first and probably bring pull back to 4 hours 55 EMA (now at 105.48). Further further rally is still in favor as long as 104.43 support holds.


http://www.actionforex.com/
  • #7,718
  • Jun 10, 2008 2:05pm Jun 10, 2008 2:05pm
Quoting dove_alliance
INTERESTING; Here is the comment that brought me on to this thread and now you give a different story.......

Posted by: Warren Forex
On: Jun 8, 2008 9:49am


---Quote (Originally by stanru)---
If we pas 105.70 level, 107….. Is possible.
---End Quote---

I choose this post to reply to for a specific reason.

I shorted USD/JPY at 106.30 and got a quick profit of 75 PIPS when it hit 105.55 on Friday. It actually closed at 104.98

I again suggest very strongly that you cannot win in Forex if you use the charts to tell you it might go to 107.00

The charts can and do change in a flash. 95% of all forex traders lose trading.

Why am I bothering to mention it again ?

I really am trying to turn losers (Financially) into Winners !!!

The most interesting thing for me in making these last comments that Winners in life can be Winners in Forex. However losers in Life cannot be Winners in Forex.

Why is that ? Forex trading is a way of life. How you think ! How you deal with your emotions !

In other words the charts telling you it is going to 107.00 or not only has a small part to play. At the most 25% of Forex trading envolves proper use of the charts.

You see what I am saying...... My charts said it was going to the 107.00 and I said so and you didn't like it.......
is it always included in charts or it supports charts some times and spoil them another time .......facts of the market that increase buy / sell orders make them go up or down and market makers profit from traders loses this if the biggest fact all traders should Know which makes the sum of prfit = zero
but the nice thing about fx markets that in bounceing between up and down according to time frames who he can be patient where ever u enter wait for the market till it come to u if u have high equety...........all traders what u think ....waiting for replys ...?????????
Greed is Trader 1st enemy.
  • #7,719
  • Jun 10, 2008 2:05pm Jun 10, 2008 2:05pm
Quoting dove_alliance
I have listen to you for months on end and all you do is promise to make everyone a good trader but you haven't done so yet....... You keep feeding garbage and enough is enough....... Become a trader and then think about helping people.

You really have a lot of nerve to post such comments. I have been here trying very hard to teach people how to trade forex properly. All of a sudden you drop in and brag how you make 100 PIPS each day. Great ! I mean it. Why don't you post some real results to show your real qualifications. You call what I post garbage yet other then being in the right place at the right time and telling us about a book you are writing and how you have a winning system how exactly are you helping anyone here ?

Regardless I will not recall ever calling what you post as garbage. You are entitled to your opinion and I RESPECT it. I do not need to have your RESPECT or even your opinion about me but if it makes your own EGO feel better than go for it.

I really am starting to doubt your claims of making what you say you make but it really does not matter.

How about a FRIENDLY 30 day Demo Trading Contest between you and me ?

We Open A Demo Account with $100,000 US Dollars with say FX Solutions where I Demo trade now and we see the results as we explain to everyone how we trade in our different styles.

What do you say ? Surely a GARBAGE FX trader like me who cannot teach anyone how to trade properly only will get discredited and have to really admit that he only posts garbage here.

This IN NO WAY IS MEANT TO INSULT YOU OR GET INTO A FLAMING CONTEST but you did post something unfair when you tell me the hundreds of hours that I give of my time results in bothering you and posting garbage.

Have a GREAT DAY !!!

Bruce
{Promotion Removed}
  • #7,720
  • Jun 10, 2008 2:11pm Jun 10, 2008 2:11pm
Quoting Warren Forex
You really have a lot of nerve to post such comments. I have been here trying very hard to teach people how to trade forex properly. All of a sudden you drop in and brag how you make 100 PIPS each day. Great ! I mean it. Why don't you post some real results to show your real qualifications. You call what I post garbage yet other then being in the right place at the right time and telling us about a book you are writing and how you have a winning system how exactly are you helping anyone here ?

Regardless I will not recall ever calling what you post as garbage. You are entitled to your opinion and I RESPECT it. I do not need to have your RESPECT or even your opinion about me but if it makes your own EGO feel better than go for it.

I really am starting to doubt your claims of making what you say you make but it really does not matter.

How about a FRIENDLY 30 day Demo Trading Contest between you and me ?

We Open A Demo Account with $100,000 US Dollars with say FX Solutions where I Demo trade now and we see the results as we explain to everyone how we trade in our different styles.

What do you say ? Surely a GARBAGE FX trader like me who cannot teach anyone how to trade properly only will get discredited and have to really admit that he only posts garbage here.

This IN NO WAY IS MEANT TO INSULT YOU OR GET INTO A FLAMING CONTEST but you did post something unfair when you tell me the hundreds of hours that I give of my time results in bothering you and posting garbage.

Have a GREAT DAY !!!

Bruce

Dove,
PLEASE take Bruce up on his offer to have a face-off!!!
This would be the ultimate fight - fundamentals vs. technicals!
We need some sort of entertainment while all the TV shows are in re-runs for the summer. *grin*

And - we all could learn alot from this.
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