Malaysia

I'm with wakli for EU . . EU going up, selling the USD..more probable my shorts on UJ will go down.

Definitely,when EU went up UJ should go down....Thats the normal correlation between pairs.....

where's others ? last week i saw many traders keep posting their post. such as wakli, johnbeam, arinfx (did he lost so much?), apeis, sorsoron. etc

Don't worry...they will come back....To contribute in this forum is like a magnet....

i`m on vacation wif my family at melaka...staying at mahkota hotel.Last nite fishing was just nice, but only get small2 fish,hehehe, but its ok rather than nothing.. i`m still watching the tread sometime.....just stay outside,,,

for today movement, i`ll wait for UK open...
hope it`ll move downward..,hehehe

Hi all,

Yesterday wasn't my day. Gave back my 250pips to the market. Since Thursday 500 pips burned after collecting decent pips for two consecutive weeks. Going for hibernation mood for re-evaluation on my losing trade before it's to late/before I give it all. I'm going to get back that pips!

So far so good. There is losing trade, losing day but not losing week.

Happy pipping all.

UJ going up.

This will give me red pips today.

I see mr apis is smiling.

how do you know i`m smiling(kasyaf ni)hehehe.of course la....but its too early.. there is a big news will come in a few hours later....so, i`ll wait for the conformation..

This is technical analysis report overview for U/J:

The USD/JPY pair is trading around the 50% correctional level for the downside trend on the long term that started in June 2007 and ended in March 2008 at 109.80. The trend is still to the upside as far as 109.20 remains intact on the short term and 108.40 on the medium term where we don't believe that these levels can be reached easily as trading today is expected to reach the 110 level. The trading range for today might extend among the support level at 109.20 and the resistance level at 111.10 The general trend remains to the upside as far as 103.00 remains intact with targets at 111.00 and 113.24


TAYOR

news for YEN.. it might be good new to those who LONG on U/J...

Aug. 20 (Bloomberg) -- The yen fell against the dollar and euro as gains in Chinese stocks encouraged investors to buy higher-yielding assets funded in the Japanese currency.
The yen also declined against the Australian and New Zealand dollars, favorites of so-called carry trades, as China's benchmark stock index jumped the most since April. The British pound traded near a two-year low on speculation minutes of the Bank of England's last meeting, released today, will signal policy makers expect inflation to slow.
``It was a big surprise to see Chinese stocks surging,'' said Ryohei Muramatsu, manager of Group Treasury Asia in Tokyo at Commerzbank AG, Germany's second-largest bank. ``This boosts risk appetite, prompting yen selling.''
The yen was at 109.91 against the U.S. currency at 7:11 a.m. in London from 109.72 in New York yesterday. The currency traded at 162.29 per euro, from 162.13. The dollar was at $1.4768 per euro from $1.4776 yesterday, when it touched $1.4631, the strongest level since Feb. 20.
Japan's currency may fall to 110.30 per dollar and 162.50 a euro today, Muramatsu forecast.
The yen declined 0.4 percent to 78.57 against New Zealand's currency and 0.3 percent to 95.90 versus the Australian dollar, as China's CSI 300 Index, which tracks yuan-denominated A shares listed on China's two exchanges, climbed 6.3 percent.
The pound traded at $1.8640 against the dollar from $1.8670 in New York. It slipped to $1.8512 on Aug. 15, the lowest level since July 2006.
`Trade War'
JPMorgan Chase & Co., the third-largest U.S. bank, predicts the Bank of England will lower its benchmark 5 percent interest rate as early as November, a change from its previous estimate of February 2009. The Bank of England releases its minutes at 9:30 a.m. in London.
The yuan climbed 0.16 percent to 6.8539 a dollar, the most in three weeks, after U.S. Treasury Secretary Henry Paulson urged China to let its currency appreciate to curb inflation.
Paulson said yesterday on a conference call hosted by Foreign Affairs magazine that measures in Congress to punish China for depressing the value of the currency might spark a ``trade war'' that would be unproductive.
The yen also weakened on speculation the Bank of Japan will keep interest rates at the lowest level among industrial nations over the coming year. The central bank cut its economic assessment, saying growth in the world's second-largest economy is ``sluggish'' for the first time in 10 years, according to its monthly economic report released in Tokyo today.
Bank of Japan
The Bank of Japan yesterday kept its target lending rate at 0.5 percent, supporting demand for carry trades. By comparison, New Zealand's benchmark rate is 8 percent, Australia's is 7.25 percent and the Federal Reserve's target is 2 percent.
In carry trades, investors get funds in a country with low borrowing costs and invest in one with higher interest rates, earning the spread between the rates. The risk is that currency market moves can erase those profits.
Bank of America Corp. lowered its forecast for the yen as the bank pushed back its estimate for a BOJ interest-rate increase from April 2009 to July 2009. The currency will fall to 110 per dollar by year-end and to 112 by March 31, versus earlier forecasts of 108 and 109, Tomoko Fujii, Tokyo-based head of economics and strategy for Japan at the second-largest U.S. bank, wrote in a research note.
Rates, Risk Appetite
``The Japanese yen price action remains dominated by relative interest-rate expectations as well as risk appetite developments,'' she said. ``In our judgment, the Fed will probably begin to hike rates earlier and more aggressively than the BOJ.''
There is a 1 percent chance the BOJ will reduce borrowing costs to 0.25 percent by the end of September, according to calculations by JPMorgan Chase & Co. using overnight interest- rate swaps. The odds for a cut by year-end are 11 percent.
Any gains in the dollar may be limited by speculation credit-market losses at U.S. financial firms will deepen and as crude oil prices rose, raising concern that the nation's economic slowdown will be prolonged.
``The U.S. credit-market turmoil won't settle down any time soon,'' said Yuji Saito, head of the foreign-exchange group in Tokyo at Societe Generale SA, France's second-largest bank by market value. ``Rising oil prices also weigh on the dollar. I am a dollar bear.''
The U.S. currency may decline to 109.10 yen and $1.4850 a euro today, Saito forecast.
Crude Oil
Crude oil rose for a second day, trading at $115.00 a barrel, on speculation U.S. inventories fell. The euro-dollar exchange rate and oil had a correlation of 0.9 in the past year, according to Bloomberg calculations. A reading of 1 would mean they move in lockstep.
Lehman Brothers Holdings Inc., the largest underwriter of mortgage bonds before the subprime market collapsed, may write down about $4 billion in credit-related investments and other assets when it reports fiscal third-quarter earnings, JPMorgan Chase analysts said Aug. 18. Goldman Sachs Group Inc. said yesterday it's ``increasingly likely'' American International Group Inc., the biggest U.S. insurer by assets, will have to raise more capital.
Futures on the Chicago Board of Trade show a 20 percent chance the U.S. central bank will raise the 2 percent target rate for overnight lending between banks by at least a quarter- percentage point by its Dec. 16 meeting, down from 37 percent odds a week earlier. Policy makers next meet Sept. 16.

counting red pips on UJ. Take losses already.

shorting GU..anticipating MPC news. Red for gbp. Counting little bits of green pips.

That's normal bro....Can't win it all and keep re-evaluating trade is the key......Best of luck to you bro!!!

u are rite wakli.. we shall keep reviewing the winning trades and the loosing trades. for UJ losses, i really neglect the big fat bull h4 next to the current one which was building just now... noted.

Yo Br0,

How's today catch ... Aiks where's the s3ni0r... half sleeping or what ... So dull today...

I pickup some green pips again on GU... . Today practise finish. Tomorrow
another days.

Yo TWD,

Dont worry, Forex will wait for you. Just make sure, your hibernation is in recovery mode. I think I was once like you... Just make sure you got the plan before going into trade. Dont jump into trade because you want it. Trade with a Plan.

For, I got Plan. Now practising my reflexes finger . So far so good.
Practise + Patience + Consistence = PIPS

Hi S3nior,

Since you been around for quite sometime, Do you take trade on a higher TF
on 4hr, Daily ???

Congrats!!!I haven't started yet.....Maybe after pound news....

Haha... the news just out, and I forgot to scalp the pips...
Missing... green...

Still sufficient. I got 3 goods days... avg 10pips/day.
BTW, do you trade higher TF ? What your advise wakli ?

6:00pm GBPhttp://www.forexfactory.com/images/m...act_medium.gifCBI Industrial Trends Orders
http://www.forexfactory.com/images/m...dar_detail.gif
-12-8

With this news out later, I looking at short fall before late rebounce

I'm a daily trader...Normally i'm using 15 min and 1 hr TF as my reference but i'm still looking at the higher TF for confirmation....For me,unless you got a sufficient margin, it's better to play with the lower TF....This is because you normally have to put a bigger SL to cover the whipsaw just in case your chart move in opposite direction.....Just my 2 cents....