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USD/JPY Discussion

  • #35,401
  • Aug 1, 2013 7:56am Aug 1, 2013 7:56am
It did this last week... Everyone was bullish and mid week it just reversed directions and slowly pushed down the whole week, I'm not saying it will keep moving upward, but us data will most likely over all have a good helping hand in securing a bullish sentiment if we stick with the theme
Fall down 7 times, Stand up 8.
  • #35,402
  • Aug 1, 2013 7:58am Aug 1, 2013 7:58am
Quoting livethedream
{quote} On a side note, I dare say we may see price make a LL
do you always take positions before the 1hr or 4 hr candle close ?
  • #35,403
  • Aug 1, 2013 8:03am Aug 1, 2013 8:03am
Quoting livethedream
{quote} You might get your wish. I broke one of my most important trading rules by closing and opening trades on a whim, based off of emotions. So according to my trading rules, I'm done for the day. Currently in a short @ 98.77 with sl of 98.9. Hoping this short plays out to cover the losses of my mistake. Either way, this just reassures my belief that trading discipline is possibly the most essential component to being a successful (and profitable) trader.
emotions and trading are the worse combo. it equates to stress. it causes us to make grave mistakes and break our account
  • #35,404
  • Aug 1, 2013 8:04am Aug 1, 2013 8:04am
Quoting booze007
{quote} do you always take positions before the 1hr or 4 hr candle close ?
I don't wait for candle close. I go down to the lower time frames to see how price is reacting in real-time. I make decisions based on that.

Price has almost broke through resistance.... is it gonna do it?
"If you won't risk the usual, you'll have to settle for the ordinary."
  • #35,405
  • Aug 1, 2013 8:10am Aug 1, 2013 8:10am
mine is at 98.99 and i will when it takes out that .
  • #35,406
  • Aug 1, 2013 8:14am Aug 1, 2013 8:14am
SL Hit. Done for the day.

Considering everything, I'm still only down 1.5% for the day, without the mistake could of been slightly positive, but you live and learn... or trade and learn in this case.

Still greatly positive for the week.

Good luck to the rest of you.
"If you won't risk the usual, you'll have to settle for the ordinary."
  • #35,407
  • Aug 1, 2013 8:18am Aug 1, 2013 8:18am
Secured +45 pips with my trailing SL strategy. I am aiming all the way baby..112.00

61.8% fibo from 2002 high to 2011 low
  • #35,408
  • Aug 1, 2013 8:28am Aug 1, 2013 8:28am
Quoting Lucky_FX
Secured +45 pips with my trailing SL strategy. I am aiming all the way baby..112.00 61.8% fibo from 2002 high to 2011 low
trailing sl ? i think you have been long from yesterday . how dint u get stopped ?
  • #35,409
  • Aug 1, 2013 8:35am Aug 1, 2013 8:35am
Quoting booze007
{quote} trailing sl ? i think you have been long from yesterday . how dint u get stopped ?
Yes I am still long from yesterday 97.8x. Basically my SL now at 98.2x so no matter what when the position is closed, I am still in the green.
  • #35,410
  • Aug 1, 2013 8:36am Aug 1, 2013 8:36am
Quoting openyoureyes
I'm not holding short positions,
active orders: buy limit 96.200-96.000
buy stop 98.900-99.100
sell stop 97.400 (TP: 96.100)
ok strong dollar,
ISM in 25 min.

this will go further up,
TP 101
  • #35,411
  • Aug 1, 2013 8:43am Aug 1, 2013 8:43am
Can't believe I missed this opportunity, (lift from 97.800 to 99.000)
US Unemployment tomorrow,
expecting good results and at least 101 by next week...

I shouldn't act this defensively...
  • #35,412
  • Aug 1, 2013 8:45am Aug 1, 2013 8:45am
Quoting openyoureyes
Can't believe I missed this opportunity, (lift from 97.800 to 99.000) US Unemployment tomorrow, expecting good results and at least 101 by next week... I shouldn't act this defensively...

I closed at about 30% of the move up so far, been kicking my own ass ever since.. haha..
Fall down 7 times, Stand up 8.
  • #35,413
  • Aug 1, 2013 8:47am Aug 1, 2013 8:47am
hold longs & sit tight...

lots of buyers,
return of the bull market to USD

USD - ISM Manufacturing PMI
  • #35,414
  • Aug 1, 2013 8:51am Aug 1, 2013 8:51am
Quoting Lucky_FX
{quote} Yes I am still long from yesterday 97.8x. Basically my SL now at 98.2x so no matter what when the position is closed, I am still in the green.
How far back do you set your trailing SL? Thx
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #35,415
  • Aug 1, 2013 8:55am Aug 1, 2013 8:55am
news in 5 min.
after the news,
I expect to seee some selling of USD until tomorrows US Unemployment.
  • #35,416
  • Aug 1, 2013 8:56am Aug 1, 2013 8:56am
Quoting openyoureyes
Can't believe I missed this opportunity, (lift from 97.800 to 99.000) US Unemployment tomorrow, expecting good results and at least 101 by next week... I shouldn't act this defensively...
damn ..i missed it too . i thought we will atleast go till 96 and then up . i saw the cot data and dollar index that the big guys started buying 2 weeks ago .
but you never know .
  • #35,417
  • Edited 9:19am Aug 1, 2013 9:05am | Edited 9:19am
I'll try another long:

buy limit 98.400-98.500

hope it comes down a little bit for a buying opportunity =)

edit : ISM positive 20 pip up

edit2 : trying a short @99.222
  • #35,418
  • Aug 1, 2013 9:12am Aug 1, 2013 9:12am
Quoting Exodus
{quote} How far back do you set your trailing SL? Thx
I don't get what you mean there...I'll re-adjust my SL every +45pips, if that what you meant.

So when USD/JPY price at 99.50, my SL would be at around 98.60 - securing me +75pips no matter what
  • #35,419
  • Aug 1, 2013 9:12am Aug 1, 2013 9:12am
bought @ 99.15 will add on every dip through about 102, then wait to see how far beyond it continues... expecting abe to give me 104 or more on this up move
  • #35,420
  • Aug 1, 2013 9:21am Aug 1, 2013 9:21am
Quoting 1candlepower
bought @ 99.15 will add on every dip through about 102, then wait to see how far beyond it continues... expecting abe to give me 104 or more on this up move
If I remember correctly, Barclays forecasted USD/JPY reach 110 before the election thing in favors of Abe. And the election did favors Abe.

So I guess now, hold on and fasten your seat-belt
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