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  • #11,501
  • Apr 4, 2013 1:44am Apr 4, 2013 1:44am
Quoting heispark
It worked!
Just goes to show that the charts are all you need!!

Given that Japan doesn't really seem to be much more than a headless chicken as far as the Japanese economy goes for quite some considerable time, perhaps when the (Tentative) press conference is over and the dust settles next week, we will be presented with some good opportunities for shorting this thing again. The 'bold action' by the BOJ is just more of the same crap and the market will not be turned (long term) by intervention. Until they fix their economy properly, they will keep on suffering. One cannot 'ease' their way to prosperity and stability.....and if BOJ had bothered to look around at others who are doing this exact same, unoriginal thing, then they would know that!

Meantime....I'll enjoy the pips
Doing what you like is Freedom. Liking what you do is Happiness.
  • #11,502
  • Apr 4, 2013 1:55am Apr 4, 2013 1:55am
Quoting Martyfish
Managed to grab 142 pips on EJ from 6:35 retracement Not a bad start to the day. Maybe time for brekky
Well done guys!
Must have just missed that. Hopefully today is a much better day.
.... laughing all the way to the bank
  • #11,503
  • Apr 4, 2013 1:58am Apr 4, 2013 1:58am
Quoting realjumper
Just goes to show that the charts are all you need!! Given that Japan doesn't really seem to be much more than a headless chicken as far as the Japanese economy goes for quite some considerable time, perhaps when the (Tentative) press conference is over and the dust settles next week, we will be presented with some good opportunities for shorting this thing again. The 'bold action' by the BOJ is just more of the same crap and the market will not be turned (long term) by intervention. Until they fix their economy properly, they will keep on suffering....
Well at least the Japanese did what they said they would.

We are still waiting for Draghi to fulfill his promise; "we will do whatever it takes" - I dont think they know what it means
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #11,504
  • Apr 4, 2013 2:00am Apr 4, 2013 2:00am
Quoting itsallover
Well done guys! Must have just missed that. Hopefully today is a much better day.
Need to be careful from here on with the Yen crosses Kelly....the BOJ press conference is still to come and we won't know whether the market will continue it's bull run or consolidate for a while. No matter.....it's not a true representation of the market forces, it's pure intervention so the 'normal' rules might not apply.....imo
Doing what you like is Freedom. Liking what you do is Happiness.
  • #11,505
  • Apr 4, 2013 2:00am Apr 4, 2013 2:00am
I can smell coffee beans
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #11,506
  • Apr 4, 2013 2:03am Apr 4, 2013 2:03am
Quoting Martyfish
Well at least the Japanese did what they said they would. We are still waiting for Draghi to fulfill his promise; "we will do whatever it takes" - I dont think they know what it means
It remains to be seen Marty.....all we have seen so far is copy cat tactics that they saw happening in EZ and USA. The goal however, remains as elusive as ever and as they say.....if you keep doing what you've always done, you'll keep getting what you've always got!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #11,507
  • Apr 4, 2013 2:23am Apr 4, 2013 2:23am
Quoting realjumper
It remains to be seen Marty.....all we have seen so far is copy cat tactics that they saw happening in EZ and USA. The goal however, remains as elusive as ever and as they say.....if you keep doing what you've always done, you'll keep getting what you've always got!!
Totally agree, but I am enjoying watching the foolish EZ politco, trying to make a mockery of the financial markets; thinking they know better; that politicians can control the economy
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #11,508
  • Apr 4, 2013 2:34am Apr 4, 2013 2:34am
Quoting Martyfish
Totally agree, but I am enjoying watching the foolish EZ politco, trying to make a mockery of the financial markets; thinking they know better; that politicians can control the economy
That's right. Oh they can cause spikes in the market here and there from time to time. But the market is not under their control, nor will it ever be. The same for the economy.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #11,509
  • Apr 4, 2013 2:49am Apr 4, 2013 2:49am
French services PMI 41.3 !!
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #11,510
  • Apr 4, 2013 2:55am Apr 4, 2013 2:55am
Quoting Martyfish
French services PMI 41.3 !!
And the hits just keep on comin'.........
Doing what you like is Freedom. Liking what you do is Happiness.
  • #11,511
  • Apr 4, 2013 3:09am Apr 4, 2013 3:09am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Quoting Martyfish
French services PMI 41.3 !!
That may have been what helped me on my Euro sell, +40
It could have been a trade to stay in forever but that is more than daily target...a slightly more cheerful night, it almost seems like I know what I'm doing.
I'm sure I couldn't have joined in EJ where you did Marty, between R2 and R3....You deserve the mixed grill breakfast!!!
  • #11,512
  • Apr 4, 2013 3:16am Apr 4, 2013 3:16am
Quoting Jamz
That may have been what helped me on my Euro sell, +40 It could have been a trade to stay in forever but that is more than daily target...a slightly more cheerful night, it almost seems like I know what I'm doing. I'm sure I couldn't have joined in EJ where you did Marty, between R2 and R3....You deserve the mixed grill breakfast!!!
I jumped in mid-stream too Jamz.....it was a forgone conclusion what those BOJ idiots were going to do....it was just a matter of when, because like good little muppets, they won't commit to a specific time. I had just finished eating and jumped in to EJ and the UJ once EJ was safe......not technical trading, just opportunistic....which is exactly what BOJ hate!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #11,513
  • Apr 4, 2013 3:21am Apr 4, 2013 3:21am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Quoting realjumper
I jumped in mid-stream too Jamz.....it was a forgone conclusion what those BOJ idiots were going to do....it was just a matter of when, because like good little muppets, they won't commit to a specific time. I had just finished eating and jumped in to EJ and the UJ once EJ was safe......not technical trading, just opportunistic....which is exactly what BOJ hate!!
I did see EJ at 121.00 and thought it would not take off from there so watched it climb.....their "tentative" bullshit is annoying however, like you say, they can't keep their currency anywhere although I do wonder where they can get $746billion from to buy bonds. Printing press I spose. Sorry RJ, you have to wait for your mixed grill, have a big T-bone instead!.....with coffee of course........sounds like Texas
  • #11,514
  • Apr 4, 2013 3:26am Apr 4, 2013 3:26am
Quoting Jamz
their "tentative" bullshit is annoying however
what about BOJ Press Conference?
already done or not yet?
thanks
Don't give up
  • #11,515
  • Apr 4, 2013 3:31am Apr 4, 2013 3:31am
I have a question with regards to my exit and would reallyappreciate some feedback. When I enter atrade, I follow the rules and set my stop loss to the last swing high/low alongwith the spread. As it was previously mentioned,we are to monitor the trade and try to avoid the stop loss get hit. With that being said, I am not sure if I ambeing too aggressive about it. Up untiltoday, I would exit if the M15 Stoch crossed and closed in the oppositedirection. In this scenario, I wouldtake a small profit or loss. The frustratingpart is when it turns and heads back in the right direction for a nicerun. So my question, should I continueto monitor the trade using the M15 Stoch or should I set the stop loss and letthe trade run and if I hit 10 to 15 pips then move to breakeven and shoot foran important level? Today I decided todo so and I was rewarded. Since we are enteringhigh probability trades, I am not sure if my original exit using the M15 Stoch isa little too aggressive?
  • #11,516
  • Apr 4, 2013 3:37am Apr 4, 2013 3:37am
Quoting Jamz
I did see EJ at 121.00 and thought it would not take off from there so watched it climb.....their "tentative" bullshit is annoying however, like you say, they can't keep their currency anywhere although I do wonder where they can get $746billion from to buy bonds. Printing press I spose. Sorry RJ, you have to wait for your mixed grill, have a big T-bone instead!.....with coffee of course........sounds like Texas
Japan has a huge current account, and as you say, they can, and are, printing Yen......which Greece et al could not do.

The markets will return to normal, but with all this BOJ crap today, and the NFP carnival tomorrow, it might be next week before the market settles down and normal service is resumed. Everyone is rushing to buy the USD at the moment as you can see......it will settle down......after Abe and those other idiots sober up from the Sake induced euphoria!!

By the way.....I hate is just as much when the Swiss mess with the Franc as well......not to mention Draghi and that king of all idiots, Bernanke!!
Attached Image (click to enlarge)
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #11,517
  • Apr 4, 2013 3:37am Apr 4, 2013 3:37am
Quoting Jamz
That may have been what helped me on my Euro sell, +40 It could have been a trade to stay in forever but that is more than daily target...a slightly more cheerful night, it almost seems like I know what I'm doing. I'm sure I couldn't have joined in EJ where you did Marty, between R2 and R3....You deserve the mixed grill breakfast!!!
In strong markets, pivot points are less important, I saw a pullback which took PA back to my MAs, while stochs very strong.

Oh and only porridge for breakfast !! with blueberries and apricots !!
I am a fallible imperfect person; so I must be a fallible imperfect trader.
  • #11,518
  • Apr 4, 2013 3:37am Apr 4, 2013 3:37am
Quoting geomink
what about BOJ Press Conference? already done or not yet? thanks
All done.....check the FF calendar
Doing what you like is Freedom. Liking what you do is Happiness.
  • #11,519
  • Apr 4, 2013 3:40am Apr 4, 2013 3:40am
Quoting Numero
I have a question with regards to my exit and would reallyappreciate some feedback. When I enter atrade, I follow the rules and set my stop loss to the last swing high/low alongwith the spread. As it was previously mentioned,we are to monitor the trade and try to avoid the stop loss get hit. With that being said, I am not sure if I ambeing too aggressive about it. Up untiltoday, I would exit if the M15 Stoch crossed and closed in the oppositedirection. In this scenario, I wouldtake a small profit or loss. The frustratingpart is when it turns and...
Please post charts when you ask these sorts of questions....it make it much easier for someone to help you
Doing what you like is Freedom. Liking what you do is Happiness.
  • #11,520
  • Apr 4, 2013 3:41am Apr 4, 2013 3:41am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Quoting realjumper
Japan has a huge current account, and as you say, they can, and are, printing Yen......which Greece et al could not do. The markets will return to normal, but with all this BOJ crap today, and the NFP carnival tomorrow, it might be next week before the market settles down and normal service is resumed. Everyone is rushing to buy the USD at the moment as you can see......it will settle down......after Abe and those other idiots sober up from the Sake induced euphoria!! By the way.....I hate is just as much when the Swiss mess with the Franc as well......not...
I wondered at the USD climb. I keep thinking they could do something better with all those billions....I've a few ideas... Yes, the swiss used $80billion in their game playing with the franc.


Quote
what about BOJ Press Conference?
already done or not yet?
thanks
Sorry, have no idea, Geo
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