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USD/JPY Discussion

  • #21,521
  • Nov 15, 2010 3:30am Nov 15, 2010 3:30am
Quoting Larseg
Same here started buying after 82 was reached... I was wondering about the sudden USD buying in start but it looks more stable now... Hopefully I can put BE after a wave....
It's been knocking on the door of 83 for a while now, I hope someone is home!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #21,522
  • Nov 15, 2010 3:46am Nov 15, 2010 3:46am
Quoting realjumper
It's been knocking on the door of 83 for a while now, I hope someone is home!!

As long as it goes steady I would be surprised if we didn't follow through... But then again it tends to go against me when I say it out loud
  • #21,523
  • Nov 15, 2010 4:07am Nov 15, 2010 4:07am
Quoting Larseg
As long as it goes steady I would be surprised if we didn't follow through... But then again it tends to go against me when I say it out loud
LOL.....it usually goes against me when I hit the 'Enter Trade' button!!!

You're right though, I too would be suprised if it didn't push on up. I'll just leave the trade running and see if I get a nice suprise or not in the morning!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #21,524
  • Nov 15, 2010 4:10am Nov 15, 2010 4:10am
Quoting realjumper
LOL.....it usually goes against me when I hit the 'Enter Trade' button!!!

You're right though, I too would be suprised if it didn't push on up. I'll just leave the trade running and see if I get a nice suprise or not in the morning!



I have to admit that I am keen on building an EA on this cross though...
  • #21,525
  • Nov 15, 2010 4:11am Nov 15, 2010 4:11am
Quoting georgem
Arent you a little premature?

First 79 is not the "gutter".... If this is "hell" for you, imagine if it goes down to 65 in the next months/years... who knows...
The world is in a disastrous condition.

I for one am not convinced that an uptrend has even started... at best we can say that the immense downtrend is in a pause mode.
65.00??? What makes you think it will go down to that kind of level? Whatever happen to the "Road to 100" that Citibank and Dai-ichi Life Insurance was beating their chest about some months back? I am quietly optimistic on the USD although I wouldn't seriously touch this pair for the time being. Maybe 1 or 2 minis here and there. i think there is just way too much speculation on the USD/JPY pair at the moment.
  • #21,526
  • Nov 15, 2010 4:13am Nov 15, 2010 4:13am
Quoting Larseg


I have to admit that I am keen on building an EA on this cross though...
Sounds like a plan!

I have the pa sitting on R1 (82.83) and also on the 4/8 Murray Maths line at the moment. It all hinges on USDX I think......
Doing what you like is Freedom. Liking what you do is Happiness.
  • #21,527
  • Nov 15, 2010 4:17am Nov 15, 2010 4:17am
Quoting realjumper
Sounds like a plan!

I have the pa sitting on R1 (82.83) and also on the 4/8 Murray Maths line at the moment. It all hinges on USDX I think......
Yes, hopefully they have all loaded up with shorts already less likely but...

Look at this, quickly checked 100 trades with only 2MA... Can easily build an better EA.... Hmmm...

5minute chart
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  • #21,528
  • Nov 15, 2010 4:21am Nov 15, 2010 4:21am
Quoting Larseg
Yes, hopefully they have all loaded up with shorts already less likely but...

Look at this, quickly checked 100 trades with only 2MA... Can easily build an better EA.... Hmmm...

5minute chart
Interesting......I must get into coding for MT4.....it can't be that hard, I use php, asp, coldfusion, sql etc etc, so I should be able to pick it up
Doing what you like is Freedom. Liking what you do is Happiness.
  • #21,529
  • Nov 15, 2010 4:27am Nov 15, 2010 4:27am
Quoting realjumper
Interesting......I must get into coding for MT4.....it can't be that hard, I use php, asp, coldfusion, sql etc etc, so I should be able to pick it up
You should be fine then
Many pros/cons with EA's though... so many times I look at them trading and the trade doesn't make sense, hehe... News etc...

See attached file, good start.
Attached File(s)
File Type: zip Expert Advisor Learning.zip   4.1 MB | 476 downloads
  • #21,530
  • Nov 15, 2010 4:35am Nov 15, 2010 4:35am
Quoting Larseg
You should be fine then
Many pros/cons with EA's though... so many times I look at them trading and the trade doesn't make sense, hehe... News etc...

See attached file, good start.
I won't get too far into ea's on this thread, but I have always dismissed them for the outrageously large stop losses that need to be used, and the consequent big drawdowns, to make a good trade.

Thanks for the file.....I'll be very interested to have a look
Doing what you like is Freedom. Liking what you do is Happiness.
  • #21,531
  • Nov 15, 2010 4:48am Nov 15, 2010 4:48am
Quoting realjumper
I won't get too far into ea's on this thread, but I have always dismissed them for the outrageously large stop losses that need to be used, and the consequent big drawdowns, to make a good trade.

Thanks for the file.....I'll be very interested to have a look
I never used EA...Is there step by step how to start?
The Market pays you to be disciplined
  • #21,532
  • Nov 15, 2010 5:03am Nov 15, 2010 5:03am
Quoting realjumper
I won't get too far into ea's on this thread, but I have always dismissed them for the outrageously large stop losses that need to be used, and the consequent big drawdowns, to make a good trade.

Thanks for the file.....I'll be very interested to have a look

No worries mate, I reckon with the skills you have as a discretionary trader you will easily see which plan to toss and keep as you are going over the back-tested numbers...

I think new traders fall into the group of curve fitting too much (optimizing too much), the real traders know they can make money with fibo 50% alone... You know what I mean... KISS sort of..
  • #21,533
  • Nov 15, 2010 5:18am Nov 15, 2010 5:18am
Quoting mima
I never used EA...Is there step by step how to start?
If you do a search of ForexFactory, or even google, you'll find all the answers. I don't know a great deal about them, so I'd better not get too far into it in case I put you wrong
Doing what you like is Freedom. Liking what you do is Happiness.
  • #21,534
  • Nov 15, 2010 5:19am Nov 15, 2010 5:19am
Quoting Larseg
No worries mate, I reckon with the skills you have as a discretionary trader you will easily see which plan to toss and keep as you are going over the back-tested numbers...

I think new traders fall into the group of curve fitting too much (optimizing too much), the real traders know they can make money with fibo 50% alone... You know what I mean... KISS sort of..
Yes it's going to be interesting. As you say KISS is the golden rule
Doing what you like is Freedom. Liking what you do is Happiness.
  • #21,535
  • Nov 15, 2010 5:31am Nov 15, 2010 5:31am
Quoting realjumper
If you do a search of ForexFactory, or even google, you'll find all the answers. I don't know a great deal about them, so I'd better not get too far into it in case I put you wrong
Thanks, no problem...I don't need it actually...It is not the way I would trade and it will never be so ...I am OK.
The Market pays you to be disciplined
  • #21,536
  • Nov 15, 2010 7:03am Nov 15, 2010 7:03am
I am selling
€.
  • #21,537
  • Nov 15, 2010 12:15pm Nov 15, 2010 12:15pm
Quoting Euro
I am selling
Yep, I sold already here, a little over 83:

Was a nice bounce so far...
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this pig cannot be slaughtered for ever... or can it?
  • #21,538
  • Nov 15, 2010 1:41pm Nov 15, 2010 1:41pm
Trendline seems to have been a temporary stopping point, if she breaks it I will start a longer-term position looking for 87.7 area.
  • #21,539
  • Nov 15, 2010 1:57pm Nov 15, 2010 1:57pm
the trendline is already broken, also with pullback
  • #21,540
  • Nov 15, 2010 2:15pm Nov 15, 2010 2:15pm
Evening Traders!

Today we got a break through strong resistance at around 83.00 (monthly pivot R1 and former support 15/09).
We have also recently broke through the dominant descending trend line back from 05/05.
Any meaningful break higher (possible reversal) should take us up to 85.00 (support from 27/11/09 and monthly pivot R2).
Any further break higher and we will be looking to seek out 88.00 (but that's for a later time )

Daily
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