Its hard to imagine any trader reaching long term consistency without applying his teaching. I can say this thread and that book are the two most important discoveries I've made so far on my short journey in FX.
james16 Chart Thread
- #51,222
- Jan 11, 2010 11:43am Jan 11, 2010 11:43am
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
Howdy from Texas! I closed my long positions on NZDJPY, AUDJPY and EURJPY for various levels of profit very early this morning. ...
K.I.S.S.
To the Play:
Nice Move but I think there may be further opportunities to go long in the Near future.
Time (& PA) will tell all.
EURJPY Weekly
EURJPY Daily (Same Box)
knudge knudge
"Does your wife like photography?"
- #51,224
- Jan 11, 2010 11:54am Jan 11, 2010 11:54am
- | Joined Sep 2009 | Status: Making Money > Being "Right" | 1,811 Posts
Sitting and waiting is greater skill then touch trading Nathan.
Yea closed the short at 133.60, my orders were at 133.62 and 133.56.
GJ did't hit 148.25.
I really like your sell limit idea here.... I'm looking at something similar but I'm hutning for a sell order a bit higher than you are.... have a look @ my yellow trendline. I have not placed an order yet, but i will be awake and alert when price hits that area
EDIT: this is USDJPY 1hr chart!
Many choose unhappiness over uncertainty.
- #51,225
- Jan 11, 2010 12:06pm Jan 11, 2010 12:06pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
I have tried to find it on the Web but, so far, have been unsuccesfull.
Jan 11th 2010 China Monetary descision.
Expected to shun pleading from US to Peg Yuan yet again.
This is the biggest influence on all (Liquid) Currencies at the moment and has put All in a Stack 'em & Rack 'em mentality. {(very little will happen until the news starts filtering out. (Be Very very carefull here. Remember Who is Feeding the Filter.)}
IF and that's a Huge IF. China decides to peg...
Every single Trader that has not achieved 100% confidence in themselves should rapidly liquidate ALL positions & wait until they get a handle on it.
If China maintains their Wall (pun intended) Current Trends (that seem to have stalled) will Quickly Resume.
opportunityisnowhere.
BMc
Jan 11th 2010 China Monetary descision.
Expected to shun pleading from US to Peg Yuan yet again.
This is the biggest influence on all (Liquid) Currencies at the moment and has put All in a Stack 'em & Rack 'em mentality. {(very little will happen until the news starts filtering out. (Be Very very carefull here. Remember Who is Feeding the Filter.)}
IF and that's a Huge IF. China decides to peg...
Every single Trader that has not achieved 100% confidence in themselves should rapidly liquidate ALL positions & wait until they get a handle on it.
If China maintains their Wall (pun intended) Current Trends (that seem to have stalled) will Quickly Resume.
opportunityisnowhere.
BMc
- #51,226
- Jan 11, 2010 12:07pm Jan 11, 2010 12:07pm
- | Joined Sep 2009 | Status: Making Money > Being "Right" | 1,811 Posts
I have been looking at this chart every day since the year began. While I have been shorting this pair at the top of the channel there at the bottom, I figured it would eventually break towards the 50 or 618 fib retrace on the BEOB from December 2009. My read of this chart tells me that the 1.4682 area is the most likely area for a turn to the downside.
K.I.S.S.
Many choose unhappiness over uncertainty.
- #51,227
- Jan 11, 2010 12:15pm Jan 11, 2010 12:15pm
- | Commercial User | Joined Aug 2006 | 12,004 Posts
- #51,231
- Jan 11, 2010 1:48pm Jan 11, 2010 1:48pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
Some trades are really screaming " TRADE ME"
pinbars are so powerful ... when you know what to do ,why and how..
I'm guessing you went Short.
If so... Grab a Pip or 2.
- #51,234
- Jan 11, 2010 2:41pm Jan 11, 2010 2:41pm
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
Got above Freezing here for the first time in a couple of months. Chasing kids in bathing suits off my front lawn..
To the Play:
Nice Move but I think there may be further opportunities to go long in the Near future.
Time (& PA) will tell all.
EURJPY Weekly
Attachment
EURJPY Daily (Same Box)
Attachment
knudge knudge
K.I.S.S.
- #51,235
- Jan 11, 2010 2:45pm Jan 11, 2010 2:45pm
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
I have tried to find it on the Web but, so far, have been unsuccesfull.
Jan 11th 2010 China Monetary descision.
Expected to shun pleading from US to Peg Yuan yet again.
This is the biggest influence on all (Liquid) Currencies at the moment and has put All in a Stack 'em & Rack 'em mentality. {(very little will happen until the news starts filtering out. (Be Very very carefull here. Remember Who is Feeding the Filter.)}
IF [size=3]and that's a Huge IF. China decides to peg...
Every single Trader that has not...
K.I.S.S.
- #51,236
- Jan 11, 2010 2:59pm Jan 11, 2010 2:59pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
I get your message and thanks. Just one question? Are you saying that the US lobby's for a peg?
K.I.S.S.
Consider the Business decisions & collateral outlay if you are an American Bus. Man selling Junk Jewelary or whatever that was Mfg in China & They say it's worth $0.05 but you can sell it {Slap Chop} for 4 easy payments of...
Then think about Hasbro & Disney &...
A Global Statement on how the Chinese view the future Global Economy is about to be re-iterated. {In my opinion.}
- #51,237
- Jan 11, 2010 3:09pm Jan 11, 2010 3:09pm
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
Absoflogginlutely. While the Yuan is Un associted, China says how much it is worth.
Consider the Business decisions & collateral outlay if you are an American Bus. Man selling Junk Jewelary or whatever that was Mfg in China & They say it's worth $0.05 but you can sell it {Slap Chop} for 4 easy payments of...
Then think about Hasbro & Disney &...
A Global Statement on how the Chinese view the future Global Economy is about to be re-iterated. {In my opinion.}
Fundies are my weakness in a severe way and I hate to admit that.
K.I.S.S.
- #51,238
- Jan 11, 2010 3:15pm Jan 11, 2010 3:15pm
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
Got above Freezing here for the first time in a couple of months. Chasing kids in bathing suits off my front lawn..
To the Play:
Nice Move but I think there may be further opportunities to go long in the Near future.
Time (& PA) will tell all.
EURJPY Weekly
Attachment
EURJPY Daily (Same Box)
Attachment
knudge knudge
K.I.S.S.
- #51,239
- Jan 11, 2010 3:30pm Jan 11, 2010 3:30pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
OK school is in session. Right now RMB is pegged to USD correct? If China un-pegs, wouldn't they devalue the RMB so as to sell more plastic crap to the US thus keeping their unemployment rate down?
Fundies are my weakness in a severe way and I hate to admit that.
K.I.S.S.
This could have been spoken by the Obama himself. You are no more confused than he is.
China? I have been there.
If you think...
Bunch o' slant eyed neanderthals.
Please open your wallet. It will be reduced AND you will be made to believe it was Your Fault.
Hence... You will offer whatever you have left.
Seriously:
This is not a fight the USD wants but they have to keep face by Asking for it.
- #51,240
- Jan 11, 2010 3:38pm Jan 11, 2010 3:38pm
OK school is in session. Right now RMB is pegged to USD correct? If China un-pegs, wouldn't they devalue the RMB so as to sell more plastic crap to the US thus keeping their unemployment rate down?
Fundies are my weakness in a severe way and I hate to admit that.
K.I.S.S.
just doing a bit of reading on the forums and i'm sad to say i was completely ignorant to the pegging issue....it's actually disturbed me a little.
thanks for shedding some light bermac.
kiss, looks like we're in the same boat! (it's a small one and bemac's the captin lol) posting as i didn't want you to think you were fundamentally alone (everyone loves a good pun...? :o)
i'm now going looking for info as it's not popped up on my regular hunting grounds.
regards
ic