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USD/JPY Discussion

  • #40,581
  • Dec 18, 2013 9:19am Dec 18, 2013 9:19am
I will be tightening my stop losses the closer we get to 2:30
  • #40,582
  • Dec 18, 2013 9:20am Dec 18, 2013 9:20am
Then re-position and ride the wave!
  • #40,583
  • Dec 18, 2013 9:40am Dec 18, 2013 9:40am
Quoting Rizmeister
I will be tightening my stop losses the closer we get to 2:30
yup...planning to do the same to lock in some gains

I'm thinking...regardless of taper or no taper...UJ will still go up
  • #40,584
  • Dec 18, 2013 9:41am Dec 18, 2013 9:41am
I think there will be alot of positive statements for the USD today. The market might have been factoring in the taper/no taper anyways. We shall see. Tighten up stops just to make sure and go with the flow. Trend=Best friend
  • #40,585
  • Dec 18, 2013 9:57am Dec 18, 2013 9:57am
Quoting Boy Wonder
{quote} Yup, thassright. I have had an epiphany recently and now realise that most price action is largely random. Not all, but most. So all indicators, which are backwards looking, used on most price action, which is random, become backwards looking useless indicators on most price action.

Put it this way...if indicators works...every trader would be rich.

people say it takes years to be a successful trader...it takes like what...an hour to learn all there is to know about an indicator
  • #40,586
  • Dec 18, 2013 10:02am Dec 18, 2013 10:02am
I'm exiting half my USDJPY long from last night. This 4hr candle that just closed has a large upper wick and closed below the previous 4hr candle's low. I still have a fundamental view that there will be no taper, but holding some U/J through the Fed should be a nice hedge to my long stock positions in case I'm wrong.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #40,587
  • Dec 18, 2013 10:35am Dec 18, 2013 10:35am
Quoting Doboy408
{quote} Put it this way...if indicators works...every trader would be rich. people say it takes years to be a successful trader...it takes like what...an hour to learn all there is to know about an indicator

Some people make millions with indicators. The difference is they have the right strategy. You can't just blindly use indicators on any market and expect to have an edge.
  • #40,588
  • Dec 18, 2013 10:44am Dec 18, 2013 10:44am
everyone get ready, in 15 min fed speaks, you better stay away for a bit and then open your positions

lets see if they cut by 5-10 bil
  • #40,589
  • Dec 18, 2013 10:49am Dec 18, 2013 10:49am
I started tightening my stop losses on USD/JPY long. (In profit zone) I suggest everyone do the same.
  • #40,590
  • Dec 18, 2013 10:50am Dec 18, 2013 10:50am
Whether its long or short
  • #40,591
  • Dec 18, 2013 10:51am Dec 18, 2013 10:51am
Quoting Ck87
{quote} Some people make millions with indicators. The difference is they have the right strategy. You can't just blindly use indicators on any market and expect to have an edge.
van Tharp reckons success is something like 90% money management and psychology and the rest is your system (i.e. what gets you into a trade in the first place - TA, FA, whatever).
I think he's almost certainly right. I just need to get that into my head more.
I have no clue what I'm talking about.
  • #40,592
  • Dec 18, 2013 10:54am Dec 18, 2013 10:54am
Quoting Rizmeister
I started tightening my stop losses on USD/JPY long. (In profit zone) I suggest everyone do the same.
market is going to be very volatile so be careful
  • #40,593
  • Dec 18, 2013 10:55am Dec 18, 2013 10:55am
its starting
  • #40,594
  • Dec 18, 2013 10:56am Dec 18, 2013 10:56am
Quoting Doboy408
{quote} Put it this way...if indicators works...every trader would be rich. people say it takes years to be a successful trader...it takes like what...an hour to learn all there is to know about an indicator
Nooo..... you have to learn to use an indicator almost like reading a chart.
I have used MACD with Stochastic and RSI in the past.
It is a mistake to think that you can incorporate an indicator without putting in the screen time.

These days I still use RSI, I use it for resolving ambiguities.
If you want to use indicators make sure you put in the time to learn how they behave.

...now going to the news feed...
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #40,595
  • Dec 18, 2013 11:13am Dec 18, 2013 11:13am
I hope everyone is alive
  • #40,596
  • Dec 18, 2013 11:14am Dec 18, 2013 11:14am
Quoting Gapur
I hope everyone is alive
Not only am I alive but I'm doing very well.
"A true speculator tries the market small." - Jesse Livermore
  • #40,597
  • Dec 18, 2013 11:15am Dec 18, 2013 11:15am
Quoting Doboy408
{quote} Put it this way...if indicators works...every trader would be rich. people say it takes years to be a successful trader...it takes like what...an hour to learn all there is to know about an indicator
Haha so true. This one made me laugh, thanks.
Faith ends where worry begins, and worry ends where faith begins.
  • #40,598
  • Dec 18, 2013 11:16am Dec 18, 2013 11:16am
Bull trap or beginning of the next leg higher? I reckon the former but ah bin fooled before and ahm probably being fooled (by myself) again.
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I have no clue what I'm talking about.
  • #40,599
  • Dec 18, 2013 11:17am Dec 18, 2013 11:17am
Hopefully no one got swept out there on that whipsaw...I nearly did myself. Looks like both U/J and /ES are going up which goes against my fundamental thesis that they both couldn't go up at the same time.

U/J bulls should be happy with daily close over 103.50.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #40,600
  • Dec 18, 2013 11:18am Dec 18, 2013 11:18am
The question is will we see some new highs
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