The majority of retail traders are always wrong because all they do is look at a chart and compare current prices to historical ones and think that's how to determine value. They have no training in economics and even less interest in doing something basic like reading the news. Technicals mean nothing if you don't have an idea of the context for when price was at a given level. Policy changes like the ones we saw last week can completely override and invalidate any price levels from the past several years.
Wrong way to trade:
"Oh! Prices are going up! What a good time to sell!"
"Oh! Prices are going down! What a good time to buy!"
Right way to trade:
Buy high, sell higher
Sell low, buy lower
If I told you this is going to 120 and beyond and you laughed in disbelief at such an absurd notion, I recommend you reevaluate your opinion on these currencies. The Yen is dead as a door nail, and it's sell, sell, sell from now on until they end (if ever) their QQE, which will be several years from now at minimum. They've tried easing now for a decade and it didn't work, and the longer they continue it, the worse it will get. Otherwise, the US is normalizing monetary policy, and you can rant about how fucked the US economy is and how the markets are rigged, but it will continue to make people money until the system collapses in on itself. We have too much debt, too many people, and not enough food or energy to sustain everyone, and global warming is fucking everything up, just like every other country on the planet. The US just happens to be the least fucked at the moment. One day, China will take over, but it's not today.
Sorry for the rant, just hoping to talk some sense into people who refuse to abandon their false hopes of shorting this for any significant gains.
At best, expect to see a little profit taking at the end of year, for no other reason than to make yearly profits on financial reports look good.
Wrong way to trade:
"Oh! Prices are going up! What a good time to sell!"
"Oh! Prices are going down! What a good time to buy!"
Right way to trade:
Buy high, sell higher
Sell low, buy lower
If I told you this is going to 120 and beyond and you laughed in disbelief at such an absurd notion, I recommend you reevaluate your opinion on these currencies. The Yen is dead as a door nail, and it's sell, sell, sell from now on until they end (if ever) their QQE, which will be several years from now at minimum. They've tried easing now for a decade and it didn't work, and the longer they continue it, the worse it will get. Otherwise, the US is normalizing monetary policy, and you can rant about how fucked the US economy is and how the markets are rigged, but it will continue to make people money until the system collapses in on itself. We have too much debt, too many people, and not enough food or energy to sustain everyone, and global warming is fucking everything up, just like every other country on the planet. The US just happens to be the least fucked at the moment. One day, China will take over, but it's not today.
Sorry for the rant, just hoping to talk some sense into people who refuse to abandon their false hopes of shorting this for any significant gains.
At best, expect to see a little profit taking at the end of year, for no other reason than to make yearly profits on financial reports look good.
you beat me to the rant
And nice one to everyone who long. Too bad i set TP too low... missed out a lot ><
agreed!
