He will answer you with huhu bro
- #30,002
- Feb 2, 2012 6:15am Feb 2, 2012 6:15am
- | Membership Revoked | Joined Aug 2011 | 7,263 Posts
Haha! Hey FXMindset, how's it going?
If there was easy money lying around,no one would be forcing it into your
- #30,003
- Feb 2, 2012 7:04am Feb 2, 2012 7:04am
- Joined Nov 2009 | Status: ¯¯¯¯¯¯¯¯¯¯ | 1,339 Posts
Still learning bro and need to learn with you more,btw am interested with how your apply your MM strategy bro of I may know..
One of the reasons I like Ichimoku is because it almost has its own MM integrated in it (or how I trade it)
I use the Chinkou Span to draw on support and resistance levels. I try to stick to levels that have been tested as both support and resistance at least once. Straight away, you have natural S&R levels before you start if you like to set fixed stops and limit orders.
Personally I just use the closest S&R level to set my initial stop, (which will naturally be tight as I am looking to get in only on a retracement and buying in an uptrend and selling in a down trend which are high probability trades).
The next step for me is to move my stop to break even and the hard work is done.
The way I control my profit (which many traders struggle with more than setting a SL) is to simply manually trail it. When you are trending you have these higher highs and higher lows. On each push through the high, I move my stop up the last low, or, to the new support as we break through resistance.
If however we have seen a big move, I will take the full profit. (say EU drops 50 pips like it did about an hour ago on the M5 chart, I took the full amount on that short).
- #30,004
- Feb 2, 2012 7:14am Feb 2, 2012 7:14am
- | Membership Revoked | Joined Aug 2011 | 7,263 Posts
Yeah no worries.
One of the reasons I like Ichimoku is because it almost has its own MM integrated in it (or how I trade it)
I use the Chinkou Span to draw on support and resistance levels. I try to stick to levels that have been tested as both support and resistance at least once. Straight away, you have natural S&R levels before you start if you like to set fixed stops and limit orders.
Personally I just use the closest S&R level to set my initial stop, (which will naturally be tight as I am looking to get in only on a retracement and buying...
Many thanks Fosking and May God bless you and family well
If there was easy money lying around,no one would be forcing it into your
- #30,010
- Edited 5:18pm Feb 2, 2012 5:02pm | Edited 5:18pm
I would start considering setting myself up long if price did get to this level, there is a good chance that they will start panicking again and hit that button, but even if not , I see the 75.60-75.40 as heavy resistance, and there is likely to be a very nice bounce up of at least 50 pips.
I am ready to bet there will be some move up caused if not by Noda the smooth-talker then Azumi the money-thrower will do something
Even willing to bet money on that!
And even timing is matching Aug-Nov-Feb - VIII-XI-II
What I don't get is how it will be better then trying to work it out from when we were above 78.xx and BoJ wasn't the only one who wanted to go up. At least some wordplay on the media.
So somewhere deep inside I am waiting for some kind of surprise moment from Japan, they should have some kind of plan, right?
I wonder if this time they will let the market decide how low it wants to go.
Déjà vu... Yen sliding lower, Japan officials popping on the media with phrases like "watching" more and more often, talks about historical low............
I wonder if this time they will let the market decide how low it wants to go.
I will buy at 75.99 75.70 and 75.50
Officer ... I swear to drunk I am not God 
- #30,012
- Feb 2, 2012 6:17pm Feb 2, 2012 6:17pm
- Joined Jun 2009 | Status: Carry Trader that not want interest | 2,016 Posts
Bismillah
- #30,013
- Feb 2, 2012 6:21pm Feb 2, 2012 6:21pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
I also was expecting some sort of action before we got back to these levels but this is the BoJ and would have thought that after 3 rounds of failed interventions they might have taken a hint , but I will not write off another attempt, however ,I would not want to be betting too big on it just yet,I will set up longs at points of resistance , including last low before intervention, with the intention of scalping for a few pips on dips, if the intervention comes it will be a bonus if not business as usual.
Come on people......snap out of this childish lolly scramble mode that some of you are in. Yes it would make for a nice quick bonus, but that's it. If you can trade half good, then you are already making more pips per week than the intervention will deliver to you.....assuming you catch ALL the 'ifs' I mentioned above.
If you set a pending order now, you will get into any intervention at a bad price because the slippage in such a large and fast move is savage......to lose 100 pips to slippage WILL happen and more.
Please snap out of this silly mode that some of you are in and focus on trading. There are no safe positions on this pair right now.....pending longs will suffer huge slippage. Shorts, even with a SL will suffer huge SL slippage. If you are in a long position *solely* to catch any intervention, I hope are you ready for a drawdown because we have no way of knowing when BOJ will act.
We are traders, not gamblers.
Doing what you like is Freedom. Liking what you do is Happiness.
- #30,014
- Feb 2, 2012 6:23pm Feb 2, 2012 6:23pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Time to go long? I think with the pin bar 2 days ago we have a reversal of trend. What does everyone think?
Doing what you like is Freedom. Liking what you do is Happiness.
- #30,015
- Feb 2, 2012 6:51pm Feb 2, 2012 6:51pm
- Joined Aug 2010 | Status: Trader | 3,185 Posts
I don't trust any move - when you have profit...take it.
- #30,016
- Feb 2, 2012 6:54pm Feb 2, 2012 6:54pm
- Joined Jun 2009 | Status: Carry Trader that not want interest | 2,016 Posts
There does seem to be some action in the yen tonight......looks like someone might be a little gittery....
Bismillah
- #30,017
- Feb 2, 2012 7:01pm Feb 2, 2012 7:01pm
- Joined Aug 2010 | Status: Trader | 3,185 Posts
I don't trust any move - when you have profit...take it.
- #30,018
- Feb 2, 2012 7:02pm Feb 2, 2012 7:02pm
- Joined Aug 2010 | Status: Trader | 3,185 Posts
I don't trust any move - when you have profit...take it.
- #30,019
- Feb 2, 2012 7:08pm Feb 2, 2012 7:08pm
- Joined Aug 2010 | Status: Trader | 3,185 Posts
I don't trust any move - when you have profit...take it.
- #30,020
- Feb 2, 2012 7:20pm Feb 2, 2012 7:20pm
- Joined Jun 2009 | Status: Carry Trader that not want interest | 2,016 Posts
Bismillah