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USD/JPY Discussion

  • #11,801
  • Sep 16, 2008 11:51am Sep 16, 2008 11:51am
Quoting toyboy tramp
I hope it goes down, I really do. But price is inexplicably bullish, and there are ALOT of shorts looking at that channel EXPECTING it to go down. Usually U/J offers this sort of predictability. NOW however, I wouldn't be surprised if the market makers bring it back to 106...which is gonna cost.
I'm feeling this bullshit
Money & Pain Respect the market, protect your capital, be patient
  • #11,802
  • Sep 16, 2008 11:53am Sep 16, 2008 11:53am
FED Funds Futures bet on 50bp cut, so market was prepared for cut so Yen gaining. Now when there was no cut they cover their short positions.
  • #11,803
  • Sep 16, 2008 11:54am Sep 16, 2008 11:54am
take a nice profit and now shorting
  • #11,804
  • Sep 16, 2008 12:16pm Sep 16, 2008 12:16pm
Quoting toyboy tramp
I hope it goes down, I really do. But price is inexplicably bullish, and there are ALOT of shorts looking at that channel EXPECTING it to go down. Usually U/J offers this sort of predictability. NOW however, I wouldn't be surprised if the market makers bring it back to 106...which is gonna cost.
I'm holding a short @ 104 on U/J...I went in for a quick scalp, and am now -170 pips, this is bad trading, and I still do it.

The spike down on the news brought my loss down to -50 pips and not -100, but I didn't take it, telling myself price was coming back to the lower channel line at 103.

Now I had to exit a 3rd of the trade to stay in it as price went up, which was -50 pips, same as if I'd closed the position on the spike down.

If I had taken the loss on the news spike and gone long I would now be on the right side of price and would have recovered my losses and profited, and am kicking myself for not moving faster, and yes, panicking. I have a lot to learn about taking losses at the right time when they occur.

Bad trading I find, is a result of carelessness and often, being tired, my really good days are when I'm alert, energised, and ON IT, if you know what I mean.

And now, if it goes much higher I'm going to get killed..
Money & Pain Respect the market, protect your capital, be patient
  • #11,805
  • Sep 16, 2008 12:33pm Sep 16, 2008 12:33pm
down down DOWN

there is no other way
  • #11,806
  • Sep 16, 2008 12:51pm Sep 16, 2008 12:51pm
down? Are you sure?
  • #11,807
  • Sep 16, 2008 12:54pm Sep 16, 2008 12:54pm
eziC have you a short position?
  • #11,808
  • Sep 16, 2008 1:07pm Sep 16, 2008 1:07pm
It will retrace, probable not until Asia
Money & Pain Respect the market, protect your capital, be patient
  • #11,809
  • Sep 16, 2008 1:11pm Sep 16, 2008 1:11pm
Trading nowadays is very risky because of bigger volatility.
Wait when market back to normal conditions for safetier entries.
  • #11,810
  • Sep 16, 2008 1:13pm Sep 16, 2008 1:13pm
Quoting magictrader
Trading nowadays is very risky because of bigger volatility.
Wait when market back to normal conditions for safetier entries.
I took a beating today with the u/j reversal, never seen price behave like that
Money & Pain Respect the market, protect your capital, be patient
  • #11,811
  • Sep 16, 2008 1:14pm Sep 16, 2008 1:14pm
Quoting gsgg
eziC have you a short position?
holding..
  • #11,812
  • Sep 16, 2008 1:17pm Sep 16, 2008 1:17pm
Morgan Stanley Beats Estimates.. what's the effect on the Yen? Should I close my shorts?
  • #11,813
  • Sep 16, 2008 1:20pm Sep 16, 2008 1:20pm
Take some time off trading and relax. Markets will always be there.



Quoting toyboy tramp
I'm holding a short @ 104 on U/J...I went in for a quick scalp, and am now -170 pips, this is bad trading, and I still do it.

The spike down on the news brought my loss down to -50 pips and not -100, but I didn't take it, telling myself price was coming back to the lower channel line at 103.

Now I had to exit a 3rd of the trade to stay in it as price went up, which was -50 pips, same as if I'd closed the position on the spike down.

If I had taken the loss on the news spike and gone long I would now be on the right side of price and would have recovered my losses and profited, and am kicking myself for not moving faster, and yes, panicking. I have a lot to learn about taking losses at the right time when they occur.

Bad trading I find, is a result of carelessness and often, being tired, my really good days are when I'm alert, energised, and ON IT, if you know what I mean.

And now, if it goes much higher I'm going to get killed..
  • #11,814
  • Sep 16, 2008 1:23pm Sep 16, 2008 1:23pm
The big boys are trying to close the gap from Sunday.
Enter Signature
  • #11,815
  • Sep 16, 2008 1:44pm Sep 16, 2008 1:44pm
we go down
  • #11,816
  • Sep 16, 2008 2:40pm Sep 16, 2008 2:40pm
The bull began with the opening of the Dow and the bear stepped back in as soon as it closed....
Money & Pain Respect the market, protect your capital, be patient
  • #11,817
  • Sep 16, 2008 2:41pm Sep 16, 2008 2:41pm
Quoting fxprocessor
Take some time off trading and relax. Markets will always be there.
I'm addicted, and am under pressure to make x amount before the end of October.

Thanks tho
Money & Pain Respect the market, protect your capital, be patient
  • #11,818
  • Sep 16, 2008 3:08pm Sep 16, 2008 3:08pm
http://2.bp.blogspot.com/_nmIuQsC9b-...D_JPY+Spot.png
{Promotion Removed}
  • #11,819
  • Sep 16, 2008 5:03pm Sep 16, 2008 5:03pm
like it has been said before many times, the best trade right now is not being in a trade. With so many news surrounding very infulencial companies, any kind of news can have huge effects on the pair where one minute your down 100pips then a minute later be 100pip over with the same position.

Its a crazy week and will be the same as long as companies like AIG, WaMu, Merril Lynch are coming with the same kind of news. Something to keep in mind is that Goldman Sachs reported the lowest amount of profit since going public. I know that the firm is considered one of the smartest investment banks but you cant help but wonder what would happen if one of the largest investment banks go down!...
  • #11,820
  • Sep 16, 2008 5:22pm Sep 16, 2008 5:22pm
may i know UJ still continue up ? or will down now ?
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