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  • #753,061
  • Feb 1, 2013 3:59am Feb 1, 2013 3:59am
Quoting SnaveForex
RSI AT 80 120 500 DONT MEAN sh!T
I don't know what's an indicator...do you ?
  • #753,062
  • Feb 1, 2013 4:03am Feb 1, 2013 4:03am
Quoting math_GB
One should also consider the trading sizes for their account, I used to work as a risk manager. Even tough I calculate my profit in pips, I do check how much I intend to make say per day or per week. I have never changed my trading size in the last 14 months and I set a target currently 40 pips a day - many days I don't get it, some days much more than that. And 40 pips with my trading lot means quite a bit of amount which makes me happy.

For instance yesterday even if I jumped on board around 123.00s with EJ I would have long exited the position...

I know what you mean. I don't do this everyday because such opportunities don't come everyday. And I didn't think Abe was bluffing to win the election back in Oct 2012. Yen is breaking the 6 years trend and too good to see it passes by.
  • #753,063
  • Feb 1, 2013 4:03am Feb 1, 2013 4:03am
Quoting attila
this has become a matter of curiosity at this point.
I truly expect a slap any time now...
  • #753,064
  • Feb 1, 2013 4:05am Feb 1, 2013 4:05am
Holy sh*t! This thing only knows how to go up!
  • #753,065
  • Feb 1, 2013 4:05am Feb 1, 2013 4:05am
Quoting math_GB
I truly expect a slap any time now...
I need very strong evidence.. I have 3755 as the next up. there will be no 3400 without it.
  • #753,066
  • Feb 1, 2013 4:06am Feb 1, 2013 4:06am
Quoting Avir
Very happy today but very greedy i am, now TP is at 75
Feck i missed it by .7 pip, GRRR
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #753,067
  • Feb 1, 2013 4:06am Feb 1, 2013 4:06am
Quoting Ken A
I know what you mean. I don't do this everyday because such opportunities don't come everyday. And I didn't think Abe was bluffing to win the election back in Oct 2012. Yen is breaking the 6 years trend and too good to see it passes by.
He certainly was not however I didn't expect the PA moving in one direction relentlessly, clearly was a mistake. I had a position with an entry @114.15, how about that...?
  • #753,068
  • Feb 1, 2013 4:07am Feb 1, 2013 4:07am
pricing in of nfp expectations leading to an anticlimactic numbers release ?

dip after release of numbers leaving us wondering whether we have reached a temporary top ?
  • #753,069
  • Feb 1, 2013 4:09am Feb 1, 2013 4:09am
Quoting Cuso
My indicators are indicating that they have no meaning anymore.
came to that conclusion long time ago
Don't be a hero. Don't have an ego. Always question yourself
  • #753,070
  • Feb 1, 2013 4:09am Feb 1, 2013 4:09am
Quoting Mateusz414
In L @ 17 .....
Out +48
  • #753,071
  • Feb 1, 2013 4:10am Feb 1, 2013 4:10am
Quoting attila
I need very strong evidence.. I have 3755 as the next up. there will be no 3400 without it.
Yes i have 3755 too i also have summing at 3713, we might see 36554 b4 then??
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #753,072
  • Feb 1, 2013 4:12am Feb 1, 2013 4:12am
Quoting USD-Bear
came to that conclusion long time ago
we reached a h1 channel top which maybe could lead to a temporary reversal.

.:: your stop loss is another trader's first target ::.
  • #753,073
  • Feb 1, 2013 4:12am Feb 1, 2013 4:12am
Quoting math_GB
He certainly was not however I didn't expect the PA moving in one direction relentlessly, clearly was a mistake. I had a position with an entry @114.15, how about that...?
I think 300-400 pips correction will only come when Japan wants a strong YEN for import payments or whatever the agenda was. Some one from the ministry sending out very vague message that Japan can handle deflation then some one else will hit the wires with weakening Yen.
  • #753,074
  • Feb 1, 2013 4:16am Feb 1, 2013 4:16am
Quoting mk77ch
we reached a h1 channel top which maybe could lead to a temporary reversal.

don't pay attention to channels too much, levels are more important.
Looking for a major turn between current and 1.38, no idea where it may occur though.....
Don't be a hero. Don't have an ego. Always question yourself
  • #753,075
  • Feb 1, 2013 4:17am Feb 1, 2013 4:17am
Quoting math_GB
He certainly was not however I didn't expect the PA moving in one direction relentlessly, clearly was a mistake. I had a position with an entry @114.15, how about that...?
82.21 UJ i was long. I took 280

Its now 92

I've taken longs here and there on the yens
but most definetly have not gained anywhere
near the 1000 points its has risen in the last month.

Interesting to see how many traders have actually got
a trade running and are 500+ on one of these yen pairs!

Most seem to have an overbought RSI keeping them out

as I posted earlier
rat
  • #753,076
  • Feb 1, 2013 4:17am Feb 1, 2013 4:17am
Quoting Cuso
And once again RSI is above 80 in the 4H, and the last 18 candles have printed over 70.

My indicators are indicating that they have no meaning anymore.
I rarely use an indicator. But if I do I ensure that I understand the maths behind it otherwise you do not know what it is telling you

Indicators like RSI are useless in a trending market. And can stay at extreme levels for weeks

It is logical therefore that if you want to use indicators then you must use different ones for different market phases

Using them same one throughout will kill every single account you throw at it over time
  • #753,077
  • Feb 1, 2013 4:18am Feb 1, 2013 4:18am
A move towards the high or new high could trigger some retracement this time
  • #753,078
  • Feb 1, 2013 4:21am Feb 1, 2013 4:21am
Indicators i never use.

Everything is obvious in the candles
rat
  • #753,079
  • Feb 1, 2013 4:21am Feb 1, 2013 4:21am
Quoting rattyo
Indicators i never use.

Everything is obvious in the candles
Of course.
  • #753,080
  • Feb 1, 2013 4:22am Feb 1, 2013 4:22am
.eu back in main chan from tues morn (drawn on M1 tf), second bounce just now... suggests 3700 before nfp.

tl's seem to work very well in situ where price move is fed by fading (like an eternal flame fed by the bodies of dead moths)
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