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USD/JPY Discussion

  • #42,941
  • Feb 11, 2014 6:41pm Feb 11, 2014 6:41pm
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Need someone's help! Seems I am suffering a big trouble duo to my bad skill.
I've locked all the trades for a couple of days, and I have no idea about how to so solve the problem.
So please give me some advise, thanks! :-)
  • #42,942
  • Feb 11, 2014 6:55pm Feb 11, 2014 6:55pm
Quoting smash1820
Hey guys! U/J is finally moving and I'm not sure if it's because of what Yellen said or because of the fact that Tokyo's bank holiday is over and the big boys are back, but either way, I am pissed for having such a bad start to the week, and so for that, I will be RAPING the yen tonight. Starting now
OK let's give this a try again, sell at 48 sl 73
  • #42,943
  • Feb 11, 2014 7:15pm Feb 11, 2014 7:15pm
Quoting Trendzalore
{quote} Yeah I'd say 120.70-80. Buying here feels like buying retail though. I see 104.34 coming but I still think 101.40-60 zone is gonna get hit first.
Still have the same thought
  • #42,944
  • Feb 11, 2014 7:17pm Feb 11, 2014 7:17pm
Quoting Trendzalore
{quote} Still have the same thought
you'd have to retake the 4H pivot to the downside first. it's very heavily defended by macro names. but i'm betting we at least return to test it hence the trade also given that we've had plenty of stops run out on cross-JPY the past 2 sessions already so the macro guys may have gotten taken out of most of their longs but I don't know. I also have an S&P short from 1817 targetting back to 1800.
  • #42,945
  • Feb 11, 2014 7:22pm Feb 11, 2014 7:22pm
Quoting eurusd_trade
{quote} you'd have to retake the 4H pivot to the downside first. it's very heavily defended by macro names. but i'm betting we at least return to test it hence the trade also given that we've had plenty of stops run out on cross-JPY the past 2 sessions already so the macro guys may have gotten taken out of most of their longs but I don't know. I also have an S&P short from 1817 targetting back to 1800.
Yes will be tough. 4 hour chart tells me long is the way, but short term looks to be building to go lower. 101.45 is a virgin point of control. The fact lower timeframe momentum is pointing down kinda hints the smart money is selling and will look to buy lower.
  • #42,946
  • Feb 11, 2014 7:23pm Feb 11, 2014 7:23pm
But a good deal of resistance off the 4hr chart I do agree 102.09 is solid but I think it will be punctured and then reverse upwards. We will see.
  • #42,947
  • Feb 11, 2014 7:27pm Feb 11, 2014 7:27pm
Quoting Trendzalore
But a good deal of resistance off the 4hr chart I do agree 102.09 is solid but I think it will be punctured and then reverse upwards. We will see.
A poor US retail sales on Thursday may be the catalyst. Right now the volume feels like it's just struggling but let's see if the bears can keep any semblance of control intraday
  • #42,948
  • Feb 11, 2014 7:36pm Feb 11, 2014 7:36pm
Quoting linmou
{image} Need someone's help! Seems I am suffering a big trouble duo to my bad skill. I've locked all the trades for a couple of days, and I have no idea about how to so solve the problem. So please give me some advise, thanks! :-)
3 lots buy against 3 lots sell and heavily overlaged !

If you closed the one in profits will lead to margin call.

Option #1, close one lot buy against one lot sell in profits one by one - this will take time and extreme patience - easier said than done when you are in panics.

Option #2, closed all in loss.

Option #3, top up the equity then close the one in profit then wait for the price to your direction in profit. Do not add new positions.

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  • #42,949
  • Feb 11, 2014 7:37pm Feb 11, 2014 7:37pm
I agree with this option, this will give u more clear picture of market.

Option #3, top up the equity then close the one in profit then wait for the price to your direction in profit. Do not add new positions.
I am smart than average trader, I simply copy the best.
  • #42,950
  • Feb 11, 2014 7:45pm Feb 11, 2014 7:45pm
Quoting eurusd_trade
{quote} A poor US retail sales on Thursday may be the catalyst. Right now the volume feels like it's just struggling but let's see if the bears can keep any semblance of control intraday
Maybe the right trade is just sell the S&P and buy the Nikkei for 1800 and 15000. the UJ doesn't look like it wants to sustain any downward momentum especially not if 15000 is still in play
We may have to go to 103 first, the 4HR is too strong and hangman supports are going to hold until all possible upside targets are taken out
  • #42,951
  • Feb 11, 2014 7:49pm Feb 11, 2014 7:49pm
I agree that 4 hour is gonna keep everything even, if the retail sales are good tomorrow its gonna hit 103.xxx I think at least 102.85
  • #42,952
  • Edited 8:15pm Feb 11, 2014 8:02pm | Edited 8:15pm
Quoting eurusd_trade
{quote} A poor US retail sales on Thursday may be the catalyst. Right now the volume feels like it's just struggling but let's see if the bears can keep any semblance of control intraday
bailed, -10, moving on from this shit pair.. rationale for bailing early was AU spike and obvious bull regain conrol on lower TF
  • #42,953
  • Feb 11, 2014 8:03pm Feb 11, 2014 8:03pm
Quoting Ken A
{quote} 3 lots buy against 3 lots sell and heavily overlaged ! If you closed the one in profits will lead to margin call. Option #1, close one lot buy against one lot sell in profits one by one - this will take time and extreme patience - easier said than done when you are in panics. Option #2, closed all in loss. Option #3, top up the equity then close the one in profit then wait for the price to your direction in profit. Do not add new positions. {image}
Thank you so much for your advise Ken, and I will read them carefully then try to reduce my loss. Just wait for my good the good news from me
THank you again, and wish you happy everyday!

Lin Mou
Sydney Australia
  • #42,954
  • Feb 11, 2014 8:12pm Feb 11, 2014 8:12pm
Not a great start for me, I've taken some pretty bad entries in the last 2 hours, but at least I still made some money

Several more hours to go...
Please check out my blog at https://from-zero-to-hero . net
  • #42,955
  • Feb 11, 2014 8:15pm Feb 11, 2014 8:15pm
China trade balance is + = Risk-On = Not a shorting day

But looks like 102.80 is defended

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  • #42,956
  • Feb 11, 2014 8:15pm Feb 11, 2014 8:15pm
Quoting eurusd_trade
{quote} bailed, -10, moving on from this shit pair.. rationale for bailing early was AU spike
You didnt hit your stop loss?
  • #42,957
  • Feb 11, 2014 8:16pm Feb 11, 2014 8:16pm
Quoting strat1x
{quote} You didnt hit your stop loss?
it was originally 48 sl 73 but with the AUD spike I figured UJ would get dragged a bit so i just cut it. it could still come off, it's just not worth the torture, there are better opportunities
  • #42,958
  • Feb 11, 2014 8:16pm Feb 11, 2014 8:16pm
Quoting linmou
{image} Need someone's help! Seems I am suffering a big trouble duo to my bad skill. I've locked all the trades for a couple of days, and I have no idea about how to so solve the problem. So please give me some advise, thanks! :-)
Oh boy, I just saw this post...

I am sorry to hear this news. Trading is tough and I have been there before (very frequently in fact). Without a doubt, the first thing I would do -- since I assume you must be with a broker that allows hedging -- is to figure out your net (cumulative) position. Is it mostly long or short?

The answer to that question will determine what to do next.
Please check out my blog at https://from-zero-to-hero . net
  • #42,959
  • Feb 11, 2014 8:19pm Feb 11, 2014 8:19pm
Quoting Ken A
China trade balance is + = Risk-On = Not a shorting day But looks like 102.80 is defended {image}
Yes but you say this after-the-fact. The move has mostly already happened. Sorry I'm not trying to critique you it's just an observation.
Please check out my blog at https://from-zero-to-hero . net
  • #42,960
  • Feb 11, 2014 8:23pm Feb 11, 2014 8:23pm
Quoting smash1820
{quote} Yes but you say this after-the-fact. The move has mostly already happened. Sorry I'm not trying to critique you it's just an observation.
True, how many hours has passed 102.80 still intact?

Didn't check the calendar?
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