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  • #408,221
  • Mar 16, 2011 5:09pm Mar 16, 2011 5:09pm
Hi,
I don't trade the UJ but interested in knowing why is 78 the all important level?

If Jap Yen goes down, would there be a risk of chain reaction with other currencies now?
  • #408,222
  • Mar 16, 2011 5:10pm Mar 16, 2011 5:10pm
lost 550pip (4 full lot) on eu/aud
Mohan
  • #408,223
  • Mar 16, 2011 5:10pm Mar 16, 2011 5:10pm
Quoting mirex
Cloggie,

can you explain a little bit more about collapse of a major currency?

are you referring to JPY? if jpy collapse, wouldn't technically mean it's losing value?

so why is it gaining more strength?

The pair is collapsing, they need to repatriate so much and their industrial output is down by probably 50% or more increasing the value of Yen to the point we are seeing now. They are selling dollars by the truckload, 78 was a big line in the sand, loads of stops and option barriers below and the word has been that the BOJ would use that level to interfere in the currency market to drive the Yen down. Right now they are pricing themselves out of the global market. The one thing that every trader will be watching is to see if they are going to buy their own debt as part of the process (if it starts today that is).

This is a collapse by strength caused by excessive Yen exchanges against the dollar, look back what happened during Kobe and multiply that by at least a factor of 2.

As to the effect on EU right now, I would not be buying it right here and would wait till TY opens to see what comes out at the 0800 open.

There is also a PC scheduled for the nuclear authority right at the open.
  • #408,224
  • Mar 16, 2011 5:11pm Mar 16, 2011 5:11pm
Quoting longshot_nl
no thanks, i lossed the trade, no setup now.
will switch brokers though.
you know one without rollovers?
sorry to hear that man...

trade2win has got a good broker review page...
  • #408,225
  • Mar 16, 2011 5:12pm Mar 16, 2011 5:12pm
Quoting PipChick
Repeat of yesterdays 4 hr chart in the making.
You should talk to your Doctor about the dosage. I'm just saying it may be a little high.
  • #408,226
  • Mar 16, 2011 5:13pm Mar 16, 2011 5:13pm
Fxcm FOREX TRADING SIGNALS is out,
Fxcm Acount manager kick me out,
My account is -16 dollars in balance

now i believe that it is the end of the word.
  • #408,227
  • Mar 16, 2011 5:15pm Mar 16, 2011 5:15pm
Quoting panosd
Fxcm FOREX TRADING SIGNALS is out,
Fxcm Acount manager kick me out,
My account is -16 dollars in balance

now i believe that it is the end of the word.

You got slipped on your stops, not really surprising with the spreads seen right at the NY roll. Lots others here had the same problem with their brokers, all you can do is call/email them. I am pretty sure that most retail brokers cover themselves for slippage on stops during rolls and high volatility, wouldn't hurt trying though.
  • #408,228
  • Mar 16, 2011 5:16pm Mar 16, 2011 5:16pm
sorry man.

you were probably over leveraged. this never ends well.
Quoting panosd
Fxcm FOREX TRADING SIGNALS is out,
Fxcm Acount manager kick me out,
My account is -16 dollars in balance

now i believe that it is the end of the word.
  • #408,229
  • Mar 16, 2011 5:16pm Mar 16, 2011 5:16pm
I foresee many people in the City to have a long night in front of them. I just would like to say one thing:
there is a tiny line between being a good trader and to be an @$$hole. If we really want to get rich by destroying a country, please go on.. I am not on that boat. Then of course I know I don't count anything but I wish this idea could spread around.
  • #408,230
  • Mar 16, 2011 5:17pm Mar 16, 2011 5:17pm
Nice to mention Kobe - history repeats itself:
http://en.wikipedia.org/wiki/Great_Hanshin_earthquake
Greed and impatience are our greatest enemies.
  • #408,231
  • Mar 16, 2011 5:17pm Mar 16, 2011 5:17pm
Quoting cloggie

As to the effect on EU right now, I would not be buying it right here and would wait till TY opens to see what comes out at the 0800 open.
  • #408,232
  • Mar 16, 2011 5:17pm Mar 16, 2011 5:17pm
Quoting Martingale
I foresee many people in the City to have a long night in front of them. I just would like to say one thing:
there is a tiny line between being a good trader and to be an @$$hole. If we really want to get rich by destroying a country, please go on.. I am not on that boat. Then of course I know I don't count anything but I wish this idea could spread around.

I disagree, as a trader you never think about the underlying cause, you just trade the instrument.
  • #408,233
  • Mar 16, 2011 5:18pm Mar 16, 2011 5:18pm
Quoting PipChick
Repeat of yesterdays 4 hr chart in the making.
Hi Pipchick,

see it dito. Maybe we are here in a triangle. That would offer us now up, then again down and then to the finale up.
  • #408,234
  • Mar 16, 2011 5:18pm Mar 16, 2011 5:18pm
That is the beauty of trading the daily and weekly charts. You can just sit back and enjoy this nonsense.
  • #408,235
  • Mar 16, 2011 5:18pm Mar 16, 2011 5:18pm
Quoting mohan76
lost 550pip (4 full lot) on eu/aud
its OK, life goes on and its just money. U can get it back later, though at a much slower rate than u lost it... please don't kill your wife/girlfriend/mother or anyone close to you....
  • #408,236
  • Mar 16, 2011 5:18pm Mar 16, 2011 5:18pm
Quoting Martingale
I foresee many people in the City to have a long night in front of them. I just would like to say one thing:
there is a tiny line between being a good trader and to be an @$$hole. If we really want to get rich by destroying a country, please go on.. I am not on that boat. Then of course I know I don't count anything but I wish this idea could spread around.
sorry, but this is absolute nonsense...
meine augen sind die sterne
  • #408,237
  • Mar 16, 2011 5:18pm Mar 16, 2011 5:18pm
Quoting SirMcPip
That is the beauty of trading the daily and weekly charts. You can just sit back and enjoy this nonsense.

Absolutely.
  • #408,238
  • Mar 16, 2011 5:19pm Mar 16, 2011 5:19pm
Quoting mohan76
lost 550pip (4 full lot) on eu/aud
f*ck
  • #408,239
  • Mar 16, 2011 5:19pm Mar 16, 2011 5:19pm
Thanks Cloggie for the heads up on 78 level.
Collapse by strength - gee


Quoting cloggie
The pair is collapsing, they need to repatriate so much and their industrial output is down by probably 50% or more increasing the value of Yen to the point we are seeing now. They are selling dollars by the truckload, 78 was a big line in the sand, loads of stops and option barriers below and the word has been that the BOJ would use that level to interfere in the currency market to drive the Yen down. Right now they are pricing themselves out of the global market. The one thing that every trader will be watching is to see if they are going to buy...
  • #408,240
  • Mar 16, 2011 5:20pm Mar 16, 2011 5:20pm
Quoting knuckledrag
You should talk to your Doctor about the dosage. I'm just saying it may be a little high.
?
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