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USD/JPY Discussion

  • #17,001
  • Jul 16, 2010 8:08am Jul 16, 2010 8:08am
omg... us-yen break low again....
this time i quit for good...
Steady as the beating drum,,,
  • #17,002
  • Jul 16, 2010 8:28am Jul 16, 2010 8:28am
Quoting Deanchain
omg... us-yen break low again....
this time i quit for good...
You should ask yourself if you traded good and what could you have done differently? going against the daily not a good idea...?

Only if you do the same mistakes all the time its time to quit...
  • #17,003
  • Jul 16, 2010 8:46am Jul 16, 2010 8:46am
Quoting Larseg
You should ask yourself if you traded good and what could you have done differently? going against the daily not a good idea...?

Only if you do the same mistakes all the time its time to quit...
no. if i explain my situation, it will be a long story... like a bad luck many times in a row...
it's hard to explain.. a lot of non technical error.
before yen, i trade ausd-us.. that was the nightmare started...
Steady as the beating drum,,,
  • #17,004
  • Jul 16, 2010 9:10am Jul 16, 2010 9:10am
Quoting Deanchain
omg... us-yen break low again....
this time i quit for good...
The "It's gotta turn Now." feeling exhibits Hope Turning to Fear.
In my personal opinion, why in the world would you be Buying This?
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Paper Trade {even if you are on Demo which I hope you are} for a week. Mark your Charts 'as if you Traded' but don't take them.
Review it in a week & then Paper Trade again for another week.
Rinse & repeat.

If 2 weeks sounds like too much time to spend on this excersize, perhaps Forex is not for you.

Harsh but believe me, If Forex Trading was easy, we wouldn't have Lotteries.
  • #17,005
  • Jul 16, 2010 9:45am Jul 16, 2010 9:45am
Quoting Kas1
i think the us dollar will weaken against yen in the near term because of this

http://www.foxnews.com/opinion/2010/...roductiveness/

...either way im trying to short below 87241 for the next couple hours, 86695 target
...took the trade and did well...trying to short again from 86697, 86152 target
  • #17,006
  • Jul 16, 2010 10:32am Jul 16, 2010 10:32am
Quoting Bemac

If 2 weeks sounds like too much time to spend on this excersize, perhaps Forex is not for you.
I would consider giving it 2 months.
  • #17,007
  • Jul 16, 2010 11:04am Jul 16, 2010 11:04am
Quoting VavraSF
I would consider giving it 2 months.
Agree. I spent 2 months in my demo account before going live, and I went live with a mini account.

1. Trade in demo account for 2 months
2. If unprofitable, return to step 1. If profitable, go to step 3.
3. Trade in live account for 1 month
4. If unprofitable, return to step 1. If profitable, continue on...and enjoy your newly found pips.
  • #17,008
  • Jul 16, 2010 11:06am Jul 16, 2010 11:06am
Quoting realjumper
The gist of using pivots is to enter long only, if we are above the pivot. Enter short only if we are below the pivot. There are exceptions of course, but I would need a good reason to go short from (say) R2. By a 'good reason' I mean that if the pair is way oversold AND at a fib line or some other convincing psyco line AND the pa looked bearish. Otherwise I would sit out the short and see what happens at the pivot.

There's quite a bit more to it than that, but that's the gist of it.

If you're interested in learning more, send me a PM ...
Thank you very much.

Appreciate it
  • #17,009
  • Jul 16, 2010 6:42pm Jul 16, 2010 6:42pm
Quoting Bemac
Paper Trade {even if you are on Demo which I hope you are} for a week. Mark your Charts 'as if you Traded' but don't take them.
Review it in a week & then Paper Trade again for another week.
Rinse & repeat.

If 2 weeks sounds like too much time to spend on this excersize, perhaps Forex is not for you.

Harsh but believe me, If Forex Trading was easy, we wouldn't have Lotteries.
Excellent advice. I demo traded for 12 months before going live. Even when I went live, I opened with a small account and was quite prepared to lose it all, and put the loss down to 'cost of education'......nothing in this life is for free!!

As it happens, I didn't blow the account, but I believe that it was soley due to my 12 months demo trading.

In the bigger scheme of things, what's 12 months? It's nothing right? As an added bonus, you get to learn patience, which is another essential ingredient to this business.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,010
  • Jul 17, 2010 3:18am Jul 17, 2010 3:18am
By Jamie Coleman

When you look at the map of Japan’s neighbors, my answer is no.

All their regional trading partners manage their currencies to one extent or another from China to South Korea to Singapore to Taiwan. Japan is at a major disadvantage if it allows the JPY to strengthen unchecked.

On the other hand, they are likely chastened by the experience of the Swiss in recent months who lost billions trying to weaken their currency.

Look for the BOJ and MOF to try and ratchet up verbal intervention and employ proxies (like Kampo) to weaken the JPY in the near-term. If the market happens to get very short of USD/JPY, perhaps they would then enter the market to hurt the speculators. Otherwise, expect a conservative approach.

Most see 85-ish as Japan’s line in the sand. If risk aversion stays high next week, look for the market to test Japan’s pain threshold.

Source: forexlive.com
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,011
  • Jul 17, 2010 5:07am Jul 17, 2010 5:07am
Quoting realjumper
Excellent advice. I demo traded for 12 months before going live. Even when I went live, I opened with a small account and was quite prepared to lose it all, and put the loss down to 'cost of education'......nothing in this life is for free!!

As it happens, I didn't blow the account, but I believe that it was soley due to my 12 months demo trading.

In the bigger scheme of things, what's 12 months? It's nothing right? As an added bonus, you get to learn patience, which is another essential ingredient to this business.
I agree!

But I recommend to trade live with an account as small as you are willing to loose. Then you´ll also learn how to manage your mind when you win and loose real money

With Oanda, you can have have a 50$ account. It´s almost the same as demoing.

Also, start trading with daily bars! Get your daily adrenaline rush from something else
"White collar crime deserves a blue collar beating!" - 8fingers
  • #17,012
  • Jul 17, 2010 10:16pm Jul 17, 2010 10:16pm
Quoting realjumper
By Jamie Coleman

When you look at the map of Japan’s neighbors, my answer is no.

All their regional trading partners manage their currencies to one extent or another from China to South Korea to Singapore to Taiwan. Japan is at a major disadvantage if it allows the JPY to strengthen unchecked.

On the other hand, they are likely chastened by the experience of the Swiss in recent months who lost billions trying to weaken their currency.

Look for the BOJ and MOF to...


even where the yen will appreciate?? this is the question of all
  • #17,013
  • Jul 17, 2010 10:47pm Jul 17, 2010 10:47pm
Quoting Deanchain
no. if i explain my situation, it will be a long story... like a bad luck many times in a row...
it's hard to explain.. a lot of non technical error.
before yen, i trade ausd-us.. that was the nightmare started...

The 1-2% max loss should keep you ok from blowout...
if you lost money I know you know what you did wrong... read this some pdf books... note your mistakes
  • #17,014
  • Jul 19, 2010 3:30am Jul 19, 2010 3:30am
will it break 87.00 or range for awhile ?
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  • #17,015
  • Jul 19, 2010 4:17am Jul 19, 2010 4:17am
Friday culminated in risk markets getting sold off and the USD suffering the most as a result. Usddxy continues to break lower causing a fresh wave of usd selling across the board. This week sees a raft of corporate earnings released. However, taking into account how the market has digested the results last week, I am firmly in a sell usdjpy on rallies mode. I am looking to sell rallies toward 86.80/00 initially and beyond there with a stop through 87.30/40.

On the downside a break through 86.20, will lead to a fresh wave of retails stops being triggered. Eurjpy has good support at 110.60/70 while 113.50/60 still marks the base of the ichi cloud.
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  • #17,016
  • Jul 19, 2010 4:42am Jul 19, 2010 4:42am
Quoting sdsarmad
Friday culminated in risk markets getting sold off and the USD suffering the most as a result. Usddxy continues to break lower causing a fresh wave of usd selling across the board. This week sees a raft of corporate earnings released. However, taking into account how the market has digested the results last week, I am firmly in a sell usdjpy on rallies mode. I am looking to sell rallies toward 86.80/00 initially and beyond there with a stop through 87.30/40.

[size=4][font=Calibri]On the downside a break through...
Until there is a clear break either north or south....I'm scalping with a tight SL. If we et to 85.50-ish, I will stand aside completely
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,017
  • Jul 19, 2010 6:22am Jul 19, 2010 6:22am
Quoting realjumper
Until there is a clear break either north or south....I'm scalping with a tight SL. If we et to 85.50-ish, I will stand aside completely
Why stand aside at 85.50. This could easily go to 84ish?
  • #17,018
  • Jul 19, 2010 6:26am Jul 19, 2010 6:26am
Quoting OldReigatian
Why stand aside at 85.50. This could easily go to 84ish?
Because last time we were at 85 the Japanese govt acted and the pa took off north. I don't wish to get on the wrong side of that!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,019
  • Jul 19, 2010 8:17pm Jul 19, 2010 8:17pm
anyone expecting reversal @ today's high (87.215)?
  • #17,020
  • Jul 20, 2010 1:10am Jul 20, 2010 1:10am
jpy usd H4 <====== elliot wave
jpy usd W1 ====== > harmonic impuls wave
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Click to Enlarge Name: jpy W1.gif Size: 84 KB
Click to Enlarge Name: JPY h4.gif Size: 64 KB
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