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USD/JPY Discussion

  • #18,101
  • Aug 30, 2010 5:49am Aug 30, 2010 5:49am

Quoting bug
http://www.forexfactory.com/showpost...ostcount=69914
http://www.forexfactory.com/showpost...ostcount=69921
http://www.forexfactory.com/showpost...ostcount=69922
  • #18,102
  • Aug 30, 2010 6:19am Aug 30, 2010 6:19am
I have placed a buy order at 83.82 with a sl at 83.40 and tp at 85.61. keeping my fingers crossed.

PS: Nice call forexgrowth
  • #18,103
  • Aug 30, 2010 6:23am Aug 30, 2010 6:23am
Quoting need-help
I have placed a buy order at 83.82 with a sl at 83.40 and tp at 85.61. keeping my fingers crossed.

PS: Nice call forexgrowth

be ready for arthritis.....you should lather your fingers up with bengay
  • #18,104
  • Aug 30, 2010 6:34am Aug 30, 2010 6:34am
Quoting mfoste1
be ready for arthritis.....you should lather your fingers up with bengay


Could you please share your view? It will be highly appreciated.

Thanks
  • #18,105
  • Aug 30, 2010 6:35am Aug 30, 2010 6:35am
Quoting need-help


Could you please share your view? It will be highly appreciated.

Thanks

just look back in the thread a few pages.....
  • #18,106
  • Aug 30, 2010 7:37am Aug 30, 2010 7:37am
If it is not the month end, UJ should see a clear bounce up. I am more bullish on this from today
  • #18,107
  • Aug 30, 2010 10:39am Aug 30, 2010 10:39am
1) anyone in the know .... is today a down day as described by former pit trader Peter Crowns ?

" In the pit the first thing you learn--- when you are ready to actually make money..., and stop the bleeding, is:

  1. Only be willing to buy a market if it is up on the day.
  2. Only be willing to sell a market if it is down on the day. "




2) is that a pennant on the 1hr chart ?


.

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  • #18,108
  • Aug 30, 2010 10:45am Aug 30, 2010 10:45am
Quoting TheArcher
1) anyone in the know .... is today a down day as described by pit trader Peter Crowns ?

" In the pit the first thing you learn--- when you are ready to actually make money..., and stop the bleeding, is:

  1. Only be willing to buy a market if it is up on the day.
  2. Only be willing to sell a market if it is down on the day. "




2) is that a pennant on the 1hr chart ?


.


1. no i wouldnt sell right now(even if I were trading yen pairs atm)

2. im not even bothering looking at a 1h chart for this pair.....
  • #18,109
  • Aug 30, 2010 10:48am Aug 30, 2010 10:48am
Quoting mfoste1
1. no i wouldnt sell right now(even if I were trading yen pairs atm)
ok . why ?

so, u agree that today is a down day by definition ?
  • #18,110
  • Aug 30, 2010 10:56am Aug 30, 2010 10:56am
Quoting TheArcher
ok . why ?

it dropped a lot today.....its almost noon in NY, there was no liquidity to be provided from london today.

its not a good idea to sell now.....just wait for a bounce to sell

i mean the pair went down, so i guess its a down day....but you cant trade like those guys, peter was a liquidity provider, they trade much differently than we do.
  • #18,111
  • Aug 30, 2010 11:00am Aug 30, 2010 11:00am
Quoting mfoste1
it dropped a lot today.....
u mean the daily range for the day ?
  • #18,112
  • Aug 30, 2010 11:03am Aug 30, 2010 11:03am
Quoting mfoste1
....but you cant trade like those guys, peter was a liquidity provider, they trade much differently than we do.
ouch ... this pricks my enthusiasm !

so how should small fries like us act ..?
  • #18,113
  • Aug 30, 2010 11:06am Aug 30, 2010 11:06am
Quoting TheArcher
ouch ... this pricks my enthusiasm !

so how should small fries like us act ..?

we just dont have the tools and information they have access to.....They will always be 2 steps ahead of us, its just a fact that we have to live with.

here watch this yellow line.....but there is very low volume right now so be careful.
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  • #18,114
  • Aug 30, 2010 11:22am Aug 30, 2010 11:22am
Quoting mfoste1
we just dont have the tools and information they have access to.....They will always be 2 steps ahead of us, its just a fact that we have to live with.

how do we play smart with this kind of handicap ?


Quoting mfoste1

here watch this yellow line.....but there is very low volume right now so be careful.

yes , noted the low volume ... hence waiting for a breakout (if any ) of the pennant downwards with volume ... if it comes before i hit the sack ,say,in half an hour ... if not, close the laptop and go to sleep .
  • #18,115
  • Edited 12:00pm Aug 30, 2010 11:32am | Edited 12:00pm
Last Friday's rally stopped at 50% retracement from July's high. Traders were expecting some kind of BoJ intervention to stop yen strength, but it didn't came. Lots of short covering helped the rally too. Not saying anything, but I'm still bearish on this pair.
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  • #18,116
  • Aug 30, 2010 11:39am Aug 30, 2010 11:39am
Quoting TheArcher
how do we play smart with this kind of handicap ?





yes , noted the low volume ... hence waiting for a breakout (if any ) of the pennant downwards with volume ... if it comes before i hit the sack ,say,in half an hour ... if not, close the laptop and go to sleep .

lol.....no there's no handicap in trading financial markets. You just gotta use your analysis. If it sucks, then you'll probably loose money. If it's good and you can execute, then you might make money....
  • #18,117
  • Aug 30, 2010 11:39am Aug 30, 2010 11:39am
kandarv

did u take up the 'spiking' , 'hunting stops' issue with Dukascopy as suggested by mfoste1?

what were their response ?

will be very beneficial for all of us if u had brought up the issue with Dukascopy .

  • #18,118
  • Aug 30, 2010 11:41am Aug 30, 2010 11:41am
Quoting mfoste1
lol.....no there's no handicap in trading financial markets.
u mean, we are even with the pit traders who are always 2 steps ahead of us ?
  • #18,119
  • Aug 30, 2010 11:55am Aug 30, 2010 11:55am
Quoting TheArcher
kandarv

did u take up the 'spiking' , 'hunting stops' issue with Dukascopy as suggested by mfoste1?

what were their response ?

will be very beneficial for all of us if u had brought up the issue with Dukascopy .

Well Archer, I got a response to my Friday's email this morning, they told me to exit the platform and clear my cache. I did this and both spikes disappeared, but I wonder if I have had an open trade and gotten SLed what would happen then.
  • #18,120
  • Aug 30, 2010 12:07pm Aug 30, 2010 12:07pm
Quoting TheArcher
u mean, we are even with the pit traders who are always 2 steps ahead of us ?

Im not really saying its a handicap, they are just a different breed than retail traders, and their methods are different. It's like comparing apples to oranges.
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