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USD/JPY Discussion

  • #15,561
  • May 19, 2010 2:58am May 19, 2010 2:58am
Quoting forex_growth
A friend of mine who is broker text me around about 1pm Singapore time to say that BOJ will not be intervening...

dont know if that helps or if you have heard the news already.. was about 4 hours ago..

PS: Im a newbie so any tips, recommendations (in terms of studying/learning) I mean would be gratefully appreciated!

thanks
Thanks for this information. I have already prepared that they won't do anything. It's all technical trading then!
  • #15,562
  • May 19, 2010 3:04am May 19, 2010 3:04am
Quoting forex_growth
A friend of mine who is broker text me around about 1pm Singapore time to say that BOJ will not be intervening...

dont know if that helps or if you have heard the news already.. was about 4 hours ago..

PS: Im a newbie so any tips, recommendations (in terms of studying/learning) I mean would be gratefully appreciated!

thanks
Are you from Singapore? Are you trading live or demo account? You may want to review my previous posts for some trading methods.
  • #15,563
  • May 19, 2010 3:38am May 19, 2010 3:38am
Quoting Usdjpy
Yesterday hit a closing candle @ 91.85. It's a confirmation of a short term downtrend target @ 90.xx.
If 90.xx doesn't hold, set SL to 50 pips. I'm buying heavily @ this level.
  • #15,564
  • May 19, 2010 3:49am May 19, 2010 3:49am
Quoting Usdjpy
Are you from Singapore? Are you trading live or demo account? You may want to review my previous posts for some trading methods.
Yes Im based here now - and yes using a live account.. there is only so much a demo can do for you!

so far Im down by about 60% but mostly through trial and error... the last 2 weeks I have slowly been turning it around.. its only a mini account..

Reasons for me being down are bad trading decisions in terms of not knowing where to enter and exit very convincingly and accurately - also learning to be alot more patient and disciplined

will go through some of past threads thanks, any other resources just say and I'll check them out too

cheers and happy pipping
"Millionaires don't use astrology, billionaires do"
  • #15,565
  • May 19, 2010 5:21am May 19, 2010 5:21am
Quoting forex_growth
Yes Im based here now - and yes using a live account.. there is only so much a demo can do for you!

so far Im down by about 60% but mostly through trial and error... the last 2 weeks I have slowly been turning it around.. its only a mini account..

Reasons for me being down are bad trading decisions in terms of not knowing where to enter and exit very convincingly and accurately - also learning to be alot more patient and disciplined

will go through some of past threads thanks, any other resources just say and I'll check them out too

cheers...
Take note that there is no such thing as "a perfect entry price". Enter the market based on the market trend is better than waiting for the perfect price (that may never come). You may wanna check out http://www.babypips.com and http://www.dailymarkets.com/
  • #15,566
  • May 19, 2010 8:21am May 19, 2010 8:21am
More longs @ 88.xx level if it goes there.
  • #15,567
  • May 19, 2010 9:20am May 19, 2010 9:20am
weekly chart
Attached Image
  • #15,568
  • May 19, 2010 9:47am May 19, 2010 9:47am
Quoting Usdjpy
Take note that there is no such thing as "a perfect entry price". Enter the market based on the market trend is better than waiting for the perfect price (that may never come). You may wanna check out http://www.babypips.com and http://www.dailymarkets.com/
True to this. When I started this last year, I lost 80%. Now nibbling profits slowly to gain back my lost. I've learnt a lot in one year, but I still think I haven't learnt enough.

Back to the pair, I'm gonna wait till it drops below 90.5x area to see where it will possibly go afterward..
  • #15,569
  • May 19, 2010 11:43am May 19, 2010 11:43am
Just noticed a bearish divergence on H1, but I've never traded divergences. A good idea to short?
  • #15,570
  • May 19, 2010 7:28pm May 19, 2010 7:28pm
The downward movement is faster than the upward movement. This means more downside is expected. Current target is 90.xx and 88.xx.
  • #15,571
  • May 19, 2010 7:39pm May 19, 2010 7:39pm
If today's and tommorrow's closing candle shows a morning star pattern, a bullish divergence is in place and sellers should trade carefully with a tight SL.
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  • #15,572
  • May 19, 2010 8:06pm May 19, 2010 8:06pm
so many story of loosing money here, actually i allready experienced also, i lost more than 30%, but lucky i allready got it event. and now trying to move to profit.

anyway on my 3Hour trend, this pair is trying to back to 90.xx or 88.xx level. so i will put more long at 90.50 and 88.50 just to make sure i'm not left by the upside movement.
  • #15,573
  • May 19, 2010 8:07pm May 19, 2010 8:07pm
Quoting Usdjpy
If today's and tommorrow's closing candle shows a morning star pattern, a bullish divergence is in place and sellers should trade carefully with a tight SL.
Thx for the heads up
  • #15,574
  • May 19, 2010 8:12pm May 19, 2010 8:12pm
Quoting yeri
anyway on my 3Hour trend, this pair is trying to back to 90.xx or 88.xx level. so i will put more long at 90.50 and 88.50 just to make sure i'm not left by the upside movement.
I am also waiting for good buys @ 90.xx and 88.xx. But if 90.xx doesn't hold, my SL is @ 50 pips.
  • #15,575
  • May 19, 2010 8:20pm May 19, 2010 8:20pm
Quoting forex_growth
Yes Im based here now - and yes using a live account.. there is only so much a demo can do for you!

so far Im down by about 60% but mostly through trial and error... the last 2 weeks I have slowly been turning it around.. its only a mini account..

Reasons for me being down are bad trading decisions in terms of not knowing where to enter and exit very convincingly and accurately - also learning to be alot more patient and disciplined

will go through some of past threads thanks, any other resources just say and I'll check them out too

cheers...
oh do you from singapore?. I hear that Keane Lee is from there and a good trader and also a good trainer. You could learn from him too.
  • #15,576
  • May 19, 2010 8:56pm May 19, 2010 8:56pm
Nothing to do until the price hit strategy: Wait for 95.xx to sell and 88.xx to buy.
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  • #15,577
  • May 19, 2010 9:32pm May 19, 2010 9:32pm
Quoting Usdjpy
I am also waiting for good buys @ 90.xx and 88.xx. But if 90.xx doesn't hold, my SL is @ 50 pips.
are you using a lot of your margin? i only use 2percent of my margin, so if this pair goes more down i would take another long.
  • #15,578
  • Edited 10:34pm May 19, 2010 9:37pm | Edited 10:34pm
Quoting yeri
are you using a lot of your margin? i only use 2percent of my margin, so if this pair goes more down i would take another long.
I'm going in heavily @ 90.xx and @ 88.xx. Possibly many lots each for both positions. Both have SL of 50 pips.
  • #15,579
  • May 19, 2010 10:39pm May 19, 2010 10:39pm
Coming down to test the lows again. Longer Term players take your positions.
  • #15,580
  • May 19, 2010 11:36pm May 19, 2010 11:36pm
it hit 90.80 but i'm still waiting to hit 90.50 hopefully will be there soon.
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