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USD/JPY Discussion

  • #8,681
  • Jun 19, 2008 8:01pm Jun 19, 2008 8:01pm
Quoting Schminner
I'm in the same boat as that small regional bank ... LOL
u r a patient man,,,still holding on to ur short
  • #8,682
  • Jun 19, 2008 8:04pm Jun 19, 2008 8:04pm
Quoting pipo77
absolutly, you know something... we could even start putting our entries and exits as well ,so we all can get some benefits...not only for USD/JPY but for any other pair it may look good...
am ready ..if the rest of you guys are ready...
pipo, know you meant well, but that is not generally practical, as you must always size your own order relative to your account and risk. There are some folks who can afford larger drawdowns when it happens as part of their trade plan, and many who cannot. I'm referring of course to real money in live accounts.

Fwiw, there is a thread somewhere on FF devoted to trade journals where people do that kind of thing, from what I understand. Hope this helps.

Also human nature being what it is, who needs the pain? Folks only remember your losers. And everybody has them. I know my own losers are the only ones I remember...
FUBAR...
  • #8,683
  • Jun 19, 2008 8:05pm Jun 19, 2008 8:05pm
i'm hoping for a confirmation to take a long.

if it closes above yesterday's high it would be reasonable to hope price would retest the 10840 ish level highs of the last few days.

my plan would be to close half my trade there and set the other half to break even with a 2nd target of 10994 ish. monthly r3

what do you guys think? does that sound like a reasonable plan?

john
  • #8,684
  • Jun 19, 2008 8:11pm Jun 19, 2008 8:11pm
Hey maybe this bank could tell us who shot Kennedy. Seriously though, this news seems highly speculative. I have read that the dollar remains very well offered 108.00 to 108.20 range. That doesn't meen anything however, and it can still go either way. Right now I remain neutral. If my chart tells me to go short, I'll go short. If it breaks above, I'll go long. Good pippin to all, and please excuse the poor attempt at sarcasm.
  • #8,685
  • Jun 19, 2008 8:30pm Jun 19, 2008 8:30pm
Ok, this is too obvious for anyone, but currency trading itself is highly speculative in nature. Whether this news comes from a small reginal bank or whatever, it could more or less impact the psycology of the speculators once it came out as news.

Quoting TheDirtySerb
Hey maybe this bank could tell us who shot Kennedy. Seriously though, this news seems highly speculative. I have read that the dollar remains very well offered 108.00 to 108.20 range. That doesn't meen anything however, and it can still go either way. Right now I remain neutral. If my chart tells me to go short, I'll go short. If it breaks above, I'll go long. Good pippin to all, and please excuse the poor attempt at sarcasm.
  • #8,686
  • Jun 19, 2008 9:10pm Jun 19, 2008 9:10pm
The name of that large US bank that issued the sell recommendation on USD/JPY *might* be Wells Fargo based on the information below? I don't know... Bloomberg issued the following news an hour ago or so.

Dollar Selling

"The Fed is not likely to back up its hawkish rhetoric with interest-rate hikes,'' said Vassili Serebriakov, a currency strategist at Wells Fargo in New York. "That could set off a new wave of dollar selling.''

http://www.bloomberg.com/apps/news?p...&refer=germany
  • #8,687
  • Jun 19, 2008 9:28pm Jun 19, 2008 9:28pm
Wells Fargo is not a chump change bank .... I think they are capable of making the market move ...
  • #8,688
  • Jun 19, 2008 11:11pm Jun 19, 2008 11:11pm
There will be no selling or buying if this keeps up: Everything across the board is working between the central pivot and the daily pivot..... There is no sure direction on any of the currencies at this time.......
The Dove - Forex Trainer
  • #8,689
  • Jun 19, 2008 11:18pm Jun 19, 2008 11:18pm
Sounds like this would be a great condition for scalping ... a few pips here and there while waiting for any significant movement ...
  • #8,690
  • Jun 19, 2008 11:20pm Jun 19, 2008 11:20pm
Daily is overbought.
  • #8,691
  • Jun 19, 2008 11:26pm Jun 19, 2008 11:26pm
Bloomberg said today eur/usd is going up because the Fed was not raising interest rates. So maybe that will make usd/jpy go down.
  • #8,692
  • Jun 19, 2008 11:27pm Jun 19, 2008 11:27pm
Quoting Schminner
Sounds like this would be a great condition for scalping ... a few pips here and there while waiting for any significant movement ...
The only problem is the channels are to small unless you went to the pound.....
The Dove - Forex Trainer
  • #8,693
  • Jun 19, 2008 11:29pm Jun 19, 2008 11:29pm
Quoting ferndog
Bloomberg said today eur/usd is going up because the Fed was not raising interest rates. So maybe that will make usd/jpy go down.
There will be no move on that equation until the announcement happens and I believe that is not until some time next week - Wednesday I think.
The Dove - Forex Trainer
  • #8,694
  • Jun 19, 2008 11:31pm Jun 19, 2008 11:31pm
Quoting dove_alliance
The only problem is the channels are to small unless you went to the pound.....
I'm already there, GBP/USD ..... UJ can barely cover the spread ... LOL
  • #8,695
  • Jun 19, 2008 11:52pm Jun 19, 2008 11:52pm
What you saw...

NEWS RELEASE!
May 15 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke pushed banks to keep raising capital in the aftermath of losses from the credit crisis to avert deeper damage to the U.S. economy.
``Firms are hunkering down,'' Bernanke said at a conference in Chicago today."
http://www.bloomberg.com/apps/news?p...d=as6dAXt3h7F4

"...said Vassili Serebriakov, a currency strategist at Wells Fargo in New York. ``That could set off a new wave of dollar selling.''
http://www.bloomberg.com/apps/news?p...fM&refer=japan

What the fly on the wall in the backroom of unnamed bank currency trading dept saw...

BOSS: "OK boys, gather round! New plan to raise money! You guys get yourself a username over at Forex Factory and find out what those boys are thinkin! When they go one way, we'll go the other, cuz we need the money, and we gotta hunker!"

GRUNTS: "Yes boss!"

BOSS: "Sound kinda smart and drop some hints and let out you heard we're goin one way, and then we'll go the other way!! Cuz boys, we're hunkerin!"

GRUNTS: "Yes boss!"

BOSS: "We'll turn those guys into liquidity so fast they won't know if the trend is up or down! They won't even have lunch money for their kids after we get thru with 'em."

GRUNTS: "Yes Boss!"
End of story.

That is what we're REALLY up against guys. Those guys know we're out here, and also know all our trades in advance cuz we tell em! DUMB!

Don't believe anything they say. You gotta take precautions. Just do the opposite, and don't believe your charts, cuz if it looks like it's goin up, it's only cuz it's really fixin to down!! And for the luv of Earl, make sure you have one of these on when you trade!!

Oh yeah, the disclaimer: I don't have any idea what I'm talkin about, so don't listen to a thing I say. And that is not me in the picture, did you really think I'd post a picture of the real me on the internet? And oh yeah guys... I don't think if we all got added together, we'd amount to a wart on an institutional traders backside.
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FUBAR...
  • #8,696
  • Jun 20, 2008 12:09am Jun 20, 2008 12:09am
Quoting ak4x
Oh yeah, the disclaimer: I don't have any idea what I'm talkin about, so don't listen to a thing I say. And that is not me in the picture, did you really think I'd post a picture of the real me on the internet? And oh yeah guys... I don't think if we all got added together, we'd amount to a wart on an institutional traders backside.

lol, the funny thing @ that pic for me is that last week I saw a guy on the subway w/ tin foil on his head underneath one of those mesh baseball caps...people actually take that crap seriously about the gov't reading your mind... just lol.

_
  • #8,697
  • Jun 20, 2008 12:09am Jun 20, 2008 12:09am
Quoting dove_alliance
The only problem is the channels are to small unless you went to the pound.....
The channels appear to get smaller and smaller ...
  • #8,698
  • Jun 20, 2008 12:30am Jun 20, 2008 12:30am
For those interested... Here is a daily and weekly chart of what's moving.
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"I don't always trade markets, but when I do, I prefer harmonics."
  • #8,699
  • Jun 20, 2008 2:49am Jun 20, 2008 2:49am
I am short from 107.79 looking for yesterdays low around 107.41
  • #8,700
  • Jun 20, 2008 2:58am Jun 20, 2008 2:58am
I would rather take such recommendations issued by large US investment banks or large banks seriously as long as they have the potentials to move the market. But this doesn't mean that smart people like you should blindly follow thier trading calls. I don't, either. I just wanted to know who was the issuer of the recommendation as I said, to make sure the information should be taken into consideration for my better trading decision.

http://www.forexfactory.com/showpost...postcount=8632
http://www.forexfactory.com/showpost...postcount=8660

"If you know the enemy and know yourself you need not fear the results of a hundred battles."

- SunTzu
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