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USD/JPY Discussion

  • #17,801
  • Aug 20, 2010 10:41am Aug 20, 2010 10:41am
Averaging really works...

I think around 84,8 are the bottom for few weeks..
I'm gona put another buy if it reach around there..
Steady as the beating drum,,,
  • #17,802
  • Aug 20, 2010 10:44am Aug 20, 2010 10:44am
Quoting Deanchain
Averaging really works...

I think around 84,8 are the bottom for few weeks..
I'm gona put another buy if it reach around there..

"losers average losers".............

words of a WILDY successful trader
  • #17,803
  • Aug 20, 2010 10:47am Aug 20, 2010 10:47am
A nice reversal setup... Just don't think it will be BIG because of the end of Friday

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Anyways
  • #17,804
  • Aug 20, 2010 10:52am Aug 20, 2010 10:52am
I set orders for a trade, probably wont get hit till next week......entry is 86.00, stops above recent swing high. Open target.
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  • #17,805
  • Aug 20, 2010 10:56am Aug 20, 2010 10:56am
Quoting bablo
The bounce will happen soon and should be fairly big. Divergence all over the daily trend.

Already started started stepping back into longs.

is this what u see on the daily chart ...?

is that a reversal sign at the bottom ...? ( probably an inverse H&S ? )
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  • #17,806
  • Aug 20, 2010 11:00am Aug 20, 2010 11:00am
i saw it is downtrend.. reach the trend line with small volume.... and SMA 100 crossing down SMA200, so i took short USDJPY 85.76 TP 85.00

anyway, it's just my opinion...
  • #17,807
  • Aug 20, 2010 11:11am Aug 20, 2010 11:11am
i think things will be subdued till Monday ...
  • #17,808
  • Aug 20, 2010 12:21pm Aug 20, 2010 12:21pm
Quoting mfoste1
"losers average losers".............

words of a WILDY successful trader

What did you mean?
Steady as the beating drum,,,
  • #17,809
  • Aug 20, 2010 12:24pm Aug 20, 2010 12:24pm
Quoting Deanchain
What did you mean?
Don't worry about him. Averaging really works! Contrary to all that technical crap, which all of 90% losers use in some form or other.
Naturally, averaging and money management. And preparedness to accept some losses sometimes.
  • #17,810
  • Aug 20, 2010 12:28pm Aug 20, 2010 12:28pm
Quoting JanPoko
Don't worry about him. Averaging really works! Contrary to all that technical crap, which all of 90% losers use in some form or other.
Naturally, averaging and money management. And preparedness to accept some losses sometimes.

yea averaging against the trend really works.......... sure it might if you have a huge account and you trade off of weekly and monthly charts....but im thinking he doesnt

get real man
  • #17,811
  • Aug 20, 2010 12:30pm Aug 20, 2010 12:30pm
Quoting Deanchain
What did you mean?

it means simply that, you keep averaging down, averaging down and before you know it your 400 pips in the red.....and then on top of that your trading AGAINST the trend, of which price may not come back to your profit level for weeks/months....

losers average losers

it is not a consistently profitable strategy, anyone who says it is, is wrong.....nothing more to say or argue there
  • #17,812
  • Aug 20, 2010 12:30pm Aug 20, 2010 12:30pm
usd jpy

seems ok but down trend a little slow down...emmh.
  • #17,813
  • Aug 20, 2010 12:33pm Aug 20, 2010 12:33pm
Quoting swano
usd jpy

seems ok but down trend a little slow down...emmh.

there is little volume in the last weeks of summer.....markets are in a slow motion holding pattern.

uj is CONSOLIDATING at the bottom.....this is a sign for more decline
  • #17,814
  • Edited 1:02pm Aug 20, 2010 12:50pm | Edited 1:02pm
Quoting mfoste1
it means simply that, you keep averaging down, averaging down and before you know it your 400 pips in the red.....and then on top of that your trading AGAINST the trend, of which price may not come back to your profit level for weeks/months....

losers average losers

it is not a consistently profitable strategy, anyone who says it is, is wrong.....nothing more to say or argue there
I have tried so many times, and they are work...
So what is a consistently profitable strategy acording to you? ...LOL..
Steady as the beating drum,,,
  • #17,815
  • Aug 20, 2010 1:45pm Aug 20, 2010 1:45pm
Quoting mfoste1
yea averaging against the trend really works.......... sure it might if you have a huge account and you trade off of weekly and monthly charts....but im thinking he doesnt

get real man
Bosh!
Size of an account needed for averaging is determined by your money management. After two blowns-up when betting on technical means I started to use the technique as my entry building system - and imagine, for more than 2 years I am in green numbers and more than a year forex is my main source of living. Perhaps you could call your grandma to be real, next time!
  • #17,816
  • Aug 20, 2010 1:48pm Aug 20, 2010 1:48pm
Quoting mfoste1
it means simply that, you keep averaging down, averaging down and before you know it your 400 pips in the red.....and then on top of that your trading AGAINST the trend, of which price may not come back to your profit level for weeks/months....

losers average losers

it is not a consistently profitable strategy, anyone who says it is, is wrong.....nothing more to say or argue there
Jesus, I must be an apparition, then. Should you ever try it, you could not say such foolery - if nothing else, you'll never get 400 in red, with averaging. Unless you are really stupid. Are you, mfoste?
  • #17,817
  • Aug 20, 2010 6:53pm Aug 20, 2010 6:53pm
I don't do the 'averaging down' thing......I don't really see the point, but hey, that's just me. I also don't swing trade like mfoste1 does, and again, it's just me.

I have been trying to pick the bottom of this pair for some time now, and many will call that tactic 'stupid', 'loser', 'amateurish' and so on. However, with *this particular pair* it is quite safe to do so with well set stops to protect. Let me tell you, I am well in the green trying to pick the bottom.

I am sure you are in the green with your avaeraging down strategy, and I'm sure that mfoste1 is also well in the green with his swing trading strategy.

I think mfoste1 is crazy to set up shorts on this pair right now.....I know he thinks I'm crazy setting up longs!! The whole point here is that we each have our own method/straegy/system whatever, and we can all win. I'll win going long, mfoste1 will win going short, and you'll win averaging down.

To each their own.....the point is to take the banks money....doesn't matter how you do it

5c
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,818
  • Aug 20, 2010 8:46pm Aug 20, 2010 8:46pm
Quoting mfoste1
"losers average losers".............

words of a WILDY successful trader
Hummmm? Me's not smart enough most of the time to pick the exact level to enter, so me targets an area and adds the biggest when it gets the deepest in the area, but if you's gonna add when it's going in reverse you needs to understand when to add when it's going your way.

Tis' not hard once you understand the math.

fwiw, no one shoots all their ammo at the first skirmish and lives to finish the battle. Markets are great at letting people paint themselves into a corner.

regards

da math
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  • #17,819
  • Aug 20, 2010 10:56pm Aug 20, 2010 10:56pm
Quoting JanPoko
Jesus, I must be an apparition, then. Should you ever try it, you could not say such foolery - if nothing else, you'll never get 400 in red, with averaging. Unless you are really stupid. Are you, mfoste?
he such a narrowminded...
How could he know how big my account and how i trade.. unless he is a psychic... LOL...

Quoting realjumper

To each their own.....the point is to take the banks money....doesn't matter how you do it

5c
This is the important point...
No single method trading is the best among others.... so never judge others method ...
Steady as the beating drum,,,
  • #17,820
  • Aug 20, 2010 11:12pm Aug 20, 2010 11:12pm
Quoting fxtrends
84.88/95 was a false-break target & a 1/8 extension of the previous 3-day range (a Gann target)

Ok, Gann it is... Couldn't find the level...
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