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Knowledge is Power

  • #441
  • Jun 23, 2008 7:43am Jun 23, 2008 7:43am
12:32 USD/JPY: Probes 108.00 with Firmer Open Seen for US Stocks San Francisco, June 23. The USD/JPY is trading at 107.89 having probed highs of 108.00 so far this morning. Underpinning the USD/JPY is a better USD performance led by EUR weakness on a soft IFO result. In addition, US stocks are seen opening firmer, with DJIA futures up 29 pts, and also aiding the USD with the Chicago Fed May National activity index improving to -0.96 from -1.23 in April. Option-related offers are eyed around 108.00 that should stall gains with further sellers at 108.20 and the 108.40/50 region. Stops are eyed above 108.60/65 on a move higher. Bids are now eyed as close as 107.65/70 and helping to support USD/JPY on dips. However, also capping gains is performance of EUR/JPY which remains capped ahead of 168.00 in the wake of the weak IFO result.
[email protected] /rd

Bruce:

The Resistance Is At 108.10 and As Long As It Does Not Break It Then !

Gold GOT Hit and is Down $24 Now and Oil is Down so We Have INTERVENTION at the moment. I shorted another position at 108.01 and will close soon !

Stay Tuned !!!
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  • #442
  • Jun 23, 2008 7:43am Jun 23, 2008 7:43am
Bruce what happen to Gold suddenly collapse like going down to hell.
  • #443
  • Jun 23, 2008 7:44am Jun 23, 2008 7:44am
I like your thread and I hope that your trades will end up in profits like mine, though I haven't shortened USD/JPY but GBP/JPY and AUD/JPY some weeks ago.
Instead of Bullinger Bands I take pitchforks and median grids for my trading strategy. I use 4H charts as working charts
  • #444
  • Jun 23, 2008 7:45am Jun 23, 2008 7:45am
Was able to short AUD/USD and EUR/USD as Gold collapse. Scalped about 20 pips.
  • #445
  • Jun 23, 2008 7:45am Jun 23, 2008 7:45am
Quoting Warren Forex
12:32 USD/JPY: Probes 108.00 with Firmer Open Seen for US Stocks San Francisco, June 23. The USD/JPY is trading at 107.89 having probed highs of 108.00 so far this morning. Underpinning the USD/JPY is a better USD performance led by EUR weakness on a soft IFO result. In addition, US stocks are seen opening firmer, with DJIA futures up 29 pts, and also aiding the USD with the Chicago Fed May National activity index improving to -0.96 from -1.23 in April. Option-related offers are eyed around 108.00 that should stall gains with further sellers at 108.20 and the 108.40/50 region. Stops are eyed above 108.60/65 on a move higher. Bids are now eyed as close as 107.65/70 and helping to support USD/JPY on dips. However, also capping gains is performance of EUR/JPY which remains capped ahead of 168.00 in the wake of the weak IFO result.
[email protected] /rd

Bruce:

The Resistance Is At 108.10 and As Long As It Does Not Break It Then !

Gold GOT Hit and is Down $24 Now and Oil is Down so We Have INTERVENTION at the moment. I shorted another position at 108.01 and will close soon !

Stay Tuned !!!
I am now short 10 positions of USD/JPY in blocks of 100K

My last 2 positions were shorted at 107.96 and 108.01 and before that at 107.87 and 107.82 as well as 107.72

Any Comments ? Any Questions ?
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  • #446
  • Jun 23, 2008 7:54am Jun 23, 2008 7:54am
Quoting ehcydotcom
Bruce what happen to Gold suddenly collapse like going down to hell.
Call it INTERVENTION or call it whatever but surely it is NOT NORMAL to see such quick violent moves. Let US look at the 2 Year US Bonds that were as High as 2.91% Yield earlier today. It is now at 2.90% while a few minutes ago it was at 2.89%

What happened as Gold got HIT BIG time is they FLOWED the proceeds into the US Dollar sending EUR/USD below 1.5482 and sending USD/JPY UP but NOT OVER 108.10 so I shorted it and just covered another position. If you Intraday Trade you need to be quick and nimble.

Bruce
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  • #447
  • Jun 23, 2008 8:10am Jun 23, 2008 8:10am
GOLD down $20 !
Oil Up a bit
Good news for several companies
Futures up a bit
Technicals reached

What next?
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #448
  • Jun 23, 2008 8:23am Jun 23, 2008 8:23am
Quoting Warren Forex
That is my job. Trade with knowledge. No fear. Look for opportunities. Look at all the factors. Watch the changing data. That is MY way and Good for me. My results are there. Good Trading to You and stick to your decision to stay out of USD/JPY today.

I just made a quick 8% or 8 PIPS !

Bruce

did you hear the phrase... protect your capital and wait for a better price?
  • #449
  • Jun 23, 2008 8:25am Jun 23, 2008 8:25am
I have been trading all morning and having FUN !

The KEY is USD/JPY not breaking Over 108.10

The next Key is the Dow ! Then The Next Key is 10:00 AM and Option Expiry !

The Time To short was when EVERYONE was thinking USD/JPY would GO OVER 108.10 !

TAKE SHORT TERM PROFITS WHEN YOU CAN !!!

I Just Closed another Position with a profit !

I am at 129 FX Trades In A Row WITH PROFITS !

My CASH DEMO BALANCE is Now $112,825.90 since FX trading started on June 9, 2008 on my way to $30,000 US Dollars in profits by July 9, 2008 or before !

I hold 8 positions now and my last 2 open ones are at 107.87 and 107.82 with another at 107.72

Any Questions or comments or suggestions ?


Bruce
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  • #450
  • Jun 23, 2008 8:26am Jun 23, 2008 8:26am
Any Comments ? Any Questions ?[/quote]

yeah i have,i know nothing of fundamentals so where would be a good place to look(web sites etc)to learn the the basics??interested particulary the corrolation between fx pairs and the indices.
thanx in advance.
maybe you could explain your reasoning a little more for us newbies??http://www.forexfactory.com/images/icons/icon14.gif
PATIENCE... DISCIPLINE
  • #451
  • Jun 23, 2008 8:32am Jun 23, 2008 8:32am
Quoting emda
did you hear the phrase... protect your capital and wait for a better price?
What works for you is great. It might not work for me. I am a risk taker with the odds on my side most of the time.

I really do not like to keep saying this but after 129 FX trades in a row without a loss and locked in profits of $12,826.00 US in two weeks since I started this Demo Account on June 9, 2008, I would say with as much humility is possible that my results speak for themselves and has for the last two years that I have been trading real funds.

I am only here taking my time to teach those that want to learn based on the way that I trade.

I Trade to WIN since that is the Purpose is it NOT ?

DROP BABY DROP USD/JPY now at 107.85 Bid !

Bruce
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  • #452
  • Jun 23, 2008 8:50am Jun 23, 2008 8:50am
Quoting Warren Forex
What works for you is great. It might not work for me. I am a risk taker with the odds on my side most of the time.

I really do not like to keep saying this but after 129 FX trades in a row without a loss and locked in profits of $12,826.00 US in two weeks since I started this Demo Account on June 9, 2008, I would say with as much humility is possible that my results speak for themselves and has for the last two years that I have been trading real funds.

I am only here taking my time to teach those that want to learn based on the way that I trade.

I Trade to WIN since that is the Purpose is it NOT ?

DROP BABY DROP USD/JPY now at 107.85 Bid !

Bruce
your style can be profitable for a while.. but I think it is very risky... or I don't understand it very much yet.... maybe you could setup a room at http://vyew.com

I would like to ask also.. what would you do if the price continues to go higher and you start to have a bigger drawdown? Do you close it to retain some of the profits at least?
  • #453
  • Edited 9:00am Jun 23, 2008 8:58am | Edited 9:00am
http://news.goldseek.com/Internation...1214164153.php

In reviewing the movement of the yen versus the Dow, we are astounded that every human being drawing breath on the face of our planet and that every business entity with offices located anywhere on the globe are not fleeing in terror from the general stock and bond markets along with their related derivatives. The last time the Dow closed below 12,000 (11,972.85), on March 17, the yen stood at 96.88 yen per dollar and 152.731 yen per euro. On Friday, the Dow closed below 12,000 (11,842.69) with the yen at 107.42 yen per dollar and 167.855 yen per euro. So despite yen weakness in the range of 10 yen per dollar and 15 yen per euro, the stock markets have gone nowhere. If that doesn't freaking scare you, nothing will. The carry trade can no longer carry the markets. The de-leveraging from the credit-crunch, the destruction of corporate profits, stagnant consumer spending despite the stimulus, outrageous energy and food prices, the ongoing real estate debacle, the monetary profligacy of the Fed, wars for profit and eternal deficits in our budget, our trade balance and our current account are simply too much for the markets to absorb, even with the help of the PPT. We are headed much lower. We are 100 to 200 Dow points from a total catastrophe. If gold and silver start to rally and the PPT crashes the markets with yen-hits to drain liquidity, it will be all over but the crying for stock markets worldwide.
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  • #454
  • Jun 23, 2008 9:10am Jun 23, 2008 9:10am
Bruce,

With all the doom and gloom, what the heck is hoilding the USD/JPY up? Can the FED really hold it up with the same talk as before. No real descision, but yet "just enough" positive talk to hold it within that 107-108 trading range?

Bristol
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #455
  • Jun 23, 2008 9:12am Jun 23, 2008 9:12am
Quoting emda
your style can be profitable for a while.. but I think it is very risky... or I don't understand it very much yet.... maybe you could setup a room at http://vyew.com

I would like to ask also.. what would you do if the price continues to go higher and you start to have a bigger drawdown? Do you close it to retain some of the profits at least?
Do You Think It Was LUCK that let me SHOW EVERYONE how to do what I did ?

Do You Think It was LUCK that kept the USD/JPY below 109.00 ?

LUCK has nothing to do with it. After 2 years of doing this with real funds LUCK plays 0 % in my results.

I just understand how to WIN !

I know the facts ! I Understand the markets. I understand Human Nature.

I am a educated, sophisticated 64 year old businessman.

Trading FX is my Life and I love it because I am the BEST and if I cannot be the BEST I have no reason to trade. That is only me. I love to make 693 REAL FX TRADES in a ROW to PROVE to ME ONLY how GOOD I am.

Why Do I Have To Keep Convincing People ?

Cannot you just focus on making money ? If your style works and you are happy, GREAT !

I Am A WINNER and I need not apologize or explain.

I am just trying to help those that want to improve to improve.

I am not here to debate my methods !

I just closed another position with a profit as I was typing this because I know what I am doing as the Dow now goes NEGATIVE !

I Use my Knowledge to see what is happening.

I have 2 positions left to close at 107.72 and 107.82 now.

130 and COUNTING !

What Else Can I Say ?

With Respect


Bruce
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  • #456
  • Jun 23, 2008 9:15am Jun 23, 2008 9:15am
WOW. Humility is not in your vocabulary.
  • #457
  • Jun 23, 2008 9:19am Jun 23, 2008 9:19am
Quoting Warren Forex
What works for you is great. It might not work for me. I am a risk taker with the odds on my side most of the time.

I really do not like to keep saying this but after 129 FX trades in a row without a loss and locked in profits of $12,826.00 US in two weeks since I started this Demo Account on June 9, 2008, I would say with as much humility is possible that my results speak for themselves and has for the last two years that I have been trading real funds.

I am only here taking my time to teach those that want to learn based on the way that I trade.

I Trade to WIN since that is the Purpose is it NOT ?

DROP BABY DROP USD/JPY now at 107.85 Bid !

Bruce

Not been following this thread but from what you're saying, are you still only trading on the demo account or you just doing it to show others ?

There's a big difference there.
  • #458
  • Jun 23, 2008 9:20am Jun 23, 2008 9:20am
Quoting bristolxyz
Bruce,

With all the doom and gloom, what the heck is hoilding the USD/JPY up? Can the FED really hold it up with the same talk as before. No real descision, but yet "just enough" positive talk to hold it within that 107-108 trading range?

Bristol
If you really want to WIN then you need to find out that for yourself. Take the time to learn and I will teach you how.

What do you think ?


Bruce
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  • #459
  • Jun 23, 2008 9:29am Jun 23, 2008 9:29am
Quoting Piece Of The Pie
WOW. Humility is not in your vocabulary.
Why would I say that ? Because I love folks who speak their mind. You are correct in that observation.

It is very hard to have humility when you take hours and hours of your time each day to post on this GREAT FX Forum called "Forex Factory" and each day is wasted trying to convince someone you do not even know that you are real. In fact on the other thread USD/JPY someone actually accused me of fabricating my Demo Account with FX Solutions !

I am doing what I do because I enjoy sharing my knowledge with others that want to learn.

To also be very honest it seems very few here want to learn. I thought some would post their Demo Account Opening Balance here as I had asked ! I think 2 have done so to date.

It is not about ME !

I do not need to be here but I choose to help others as all Winners share this attitude in common.

I know about Human Greed and FEAR and EGO !

I was not so greedy as to hold my positions open so I closed them with profits as things reversed. Of course I use Stops and Limit Outs. I am a second by second FX trader !

I really do not know what else I can say ?

Bruce
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  • #460
  • Jun 23, 2008 9:31am Jun 23, 2008 9:31am
Quoting Warren Forex
If you really want to WIN then you need to find out that for yourself. Take the time to learn and I will teach you how.

What do you think ?


Bruce
I don't think that the USD/JPY is going to stand up to too much more on the upside. A day like today just goes to show you that there are bargain hunters out there (as far as the DOW , NAS, and S & P are concerned). In my opinion, it will not last the week.

What will Wednesday do? We'll see. But I think it will be more of the same to keep the DLR where it is, or at least not fall too far from where it is now.
Eventually it will fall back down as more bad news comes out.

The Technicals are very hard for me to understand. I have no problem understanding Support and Resistance, Piviots etc, but I have a hard time placing the correct trades and particularly stops, etc.

Regards,

Bristol
"I spilled spot remover on my dog. He's gone now." - Steven Wright
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