I'm going long USD/JPY at 80.50, target 100 | Forex Factory

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I'm going long USD/JPY at 80.50, target 100

  • #1
  • First Post: Oct 25, 2010 3:23am Oct 25, 2010 3:23am
Hi all,

I'm going long USD/JPY at 80.50 using 20,000 units with a target of 100.00 in a $1k sub account (yes, leverage 20:1).

I'll add every 100 pips another 5k units on the way up.

There is the possibility of a margin call of course but I take that risk as the risk/reward looks incredible good.

http://www.xaron.net/dl/fx/2010/usdj...ion_251010.png
  • #2
  • Oct 25, 2010 3:28am Oct 25, 2010 3:28am
http://www.xaron.net/dl/fx/2010/usdjpy_chart_251010.png
  • #3
  • Oct 25, 2010 3:43am Oct 25, 2010 3:43am
Longing on a break out in the down trend position? profit off the correction but target 100? QE on going too

GL u need it
  • #4
  • Oct 25, 2010 3:43am Oct 25, 2010 3:43am
Sup Xaron... Glad to see your still alive. Have you visited Oanda lately?


As for your position, I can only give this gesture:

Although I bid you good luck.


Peace.
  • #5
  • Oct 25, 2010 3:46am Oct 25, 2010 3:46am
What do they say about picking bottoms? Smelly fingers?
  • #6
  • Oct 25, 2010 3:48am Oct 25, 2010 3:48am
from http://twitter.com/alaidi

"Just like I said no yen intervention ahead of G7, I said there would be no intervention ahead of G20 #forex $$"
about 2 hours ago via Twitter for BlackBerry
  • #7
  • Oct 25, 2010 3:52am Oct 25, 2010 3:52am
u may be right on EUR last time but i dont see it this time. If BoJ ever intervene it wont even go up to 100.
  • #8
  • Oct 25, 2010 4:52am Oct 25, 2010 4:52am
I don't bet on BOJ intervention actually. I just bet on the fact that both Japan and US want to devalue their currency and the markets already took the USD far too much away.

MC will be around 77.40. If it goes that deep, ok, I take that hit.
  • #9
  • Oct 25, 2010 5:47am Oct 25, 2010 5:47am
How long do u expect to hold before UJ hit 100 and when do u think is the next push after today?
  • #10
  • Oct 25, 2010 6:41am Oct 25, 2010 6:41am
I think this will take several months, maybe till end of next year.
  • #11
  • Oct 25, 2010 6:45am Oct 25, 2010 6:45am
Its totally fine imo. Just 1k account. If you make it, you could prolly get like 10k or more. I wouldn't mind at all
  • #12
  • Oct 25, 2010 7:07am Oct 25, 2010 7:07am
Looks to me a super hit trade. In Nov 2009, it came to 84 and shot up to 92.

This time it will come to 16 year low of 79 and thats it. It has no where to go but up.

Trader Xaron thrives on Risk.
  • #13
  • Oct 25, 2010 10:01am Oct 25, 2010 10:01am
Quoting Xaron
MC will be around 77.40. If it goes that deep, ok, I take that hit.
Now that it's out in the open, I guess all the sharks will be after ur account!
  • #14
  • Oct 25, 2010 1:24pm Oct 25, 2010 1:24pm
hey Xaron

logical trade but i am sure that this one will test the 80.00 level.

i have a buy limit @ 80.10 first target will be the 87.00 level for me..

i will take %1 risk on that one stop is 60 pips
Attached Image (click to enlarge)
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  • #15
  • Oct 26, 2010 2:50pm Oct 26, 2010 2:50pm
Quoting Xaron
MC will be around 77.40. If it goes that deep, ok, I take that hit.

Do you plan on any stop management as you get closer to your target? Something to take away the risk of being "top heavy" as your position size grows?
  • #16
  • Oct 27, 2010 1:45am Oct 27, 2010 1:45am
Quoting Xaron
I think this will take several months, maybe till end of next year.
i share your bullish view.
perhaps will reach 100/101 soonest by April - December2011.
i dont have enough patience yet to trade 'long-term', but let's see what happens.
  • #17
  • Oct 31, 2010 7:27pm Oct 31, 2010 7:27pm
Did I just see the BOJ doing naughty things ? I entered on Friday at 80.55 with a stop loss at 79.90 and a take profit at 81.45. And it all happened very fast, one moment I was looking at the chart and it was around 80.300, then I look at the TV for a few seconds and next thing I know I have collected some nice pips
  • #18
  • Oct 31, 2010 10:50pm Oct 31, 2010 10:50pm
Quoting micmic
Did I just see the BOJ doing naughty things ? I entered on Friday at 80.55 with a stop loss at 79.90 and a take profit at 81.45. And it all happened very fast, one moment I was looking at the chart and it was around 80.300, then I look at the TV for a few seconds and next thing I know I have collected some nice pips
This week will be a roller-coaster of a week, with the News in the U.S. and ESPECIALLY if usd/jpy goes to 79.75, then there are some nice pips to be made ... or lost, respectfully.
  • #19
  • Nov 1, 2010 4:33am Nov 1, 2010 4:33am
Quoting Xaron
Hi all,

I'm going long USD/JPY at 80.50 using 20,000 units with a target of 100.00 in a $1k sub account (yes, leverage 20:1).

I'll add every 100 pips another 5k units on the way up.

There is the possibility of a margin call of course but I take that risk as the risk/reward looks incredible good.

http://www.xaron.net/dl/fx/2010/usdj...ion_251010.png

Good luck man...you will need that, for now everything is pointing downtrend. Looks like you trying to impose your wishes about what you expect the market to do...
TRADE WHAT IS ON THE CHART NOT WHAT YOU WISH OR EXPECT MARKET TO DO!
RIGHT NOW WE ARE ON A DOWNTREND!
  • #20
  • Nov 1, 2010 4:36am Nov 1, 2010 4:36am
Quoting supremechaos
i share your bullish view.
Perhaps will reach 100/101 soonest by april - december2011.
I dont have enough patience yet to trade 'long-term', but let's see what happens.
there is nohing bullish about the usd/jpy i see in my chart...last i checked its in a serious downtrend.
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