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Bull City Baby! Buying Opportunities

  • #1
  • First Post: Edited Apr 2, 2015 10:09am Dec 5, 2014 9:56pm | Edited Apr 2, 2015 10:09am
Current thread rules:

Opinions welcome. If someone has a different opinion, please be respectful. There is no need to try and convince everyone you are right. If you have this issue and have something to prove, it won't help your trading anyway.

No profanity.

USDJPY - Let's make some pips!
  • #2
  • Dec 5, 2014 10:04pm Dec 5, 2014 10:04pm
Okay, I'm too lazy to re-create my post from the other thread on my first buy trade for this thread, so here's the link...

Post 52,615

My SL is 120.952
TP is 123
  • #3
  • Edited Dec 6, 2014 7:36pm Dec 5, 2014 11:57pm | Edited Dec 6, 2014 7:36pm
Updated original post...

Original post rules executive summery: We're looking for buying opportunities only, currently with USDJPY only. If you are looking to short this pair, don't post on this thread. If you don't think this pair is in an uptrend, or will continue in an uptrend, don't post on this thread. Please do not post anything about selling in this thread.
  • #4
  • Dec 6, 2014 12:42am Dec 6, 2014 12:42am
I wanted to comment one more time before I call it a night. I'm really excited about this thread, and the potential it will have for many traders to get on the winning side of trades.

I commented already on the different mindset involved in buying verses selling. Have you had this experience? Buy, get stopped out, then sell, get stopped out again. What happened? Your mind's eye never adjusted and focused, so you never saw the good trade in the right direction and waited for it.

Look in only one direction, the RIGHT direction. Then look for the opportunities in that direction. Sounds simple, but harder to apply the patience and discipline. But if we do it together, it will be easier...

I do understand that many traders will not agree with me, as many traders have developed their trading so they can trade both ways. Good for them!

But I have never been the type of person to try and focus on too many things at once. I always find what I excel at, or what comes naturally to me, develop that to it's fullest potential. That is why I've chosen to live in the... Bull City Baby!

Okay, yes, I know I have issues
  • #5
  • Dec 6, 2014 1:17am Dec 6, 2014 1:17am
I have a long bias too, although, if you get it right, shorting can make you a lot of money really fast. However, I just wanted to say there is a reason you and I both have a long bias. And it all starts with The Federal Reserve and Treasury. Goodnight!
Please check out my blog at https://from-zero-to-hero . net
  • #6
  • Dec 6, 2014 6:35am Dec 6, 2014 6:35am
Quoting smash1820
I have a long bias too, although, if you get it right, shorting can make you a lot of money really fast. However, I just wanted to say there is a reason you and I both have a long bias. And it all starts with The Federal Reserve and Treasury. Goodnight!
Thanks for posting. But just a reminder, as part of the rules of this thread, there will be no discussions about shorting. I believe the rules are crystal clear on that.

Money can be made really fast either buying or selling if you get it right. On this thread it will only be about buying.
  • #7
  • Dec 6, 2014 8:04am Dec 6, 2014 8:04am
Can't comment but just stopping by to wish you luck with the new thread benaiah.
Ghost Rider - WWTBMD?
  • #8
  • Dec 6, 2014 4:43pm Dec 6, 2014 4:43pm
Ill follow along with this thread, but not trying to be an ass or anything, isn't selling a pair in forex the same thing as buying the other pair? Unlike stocks where shorting is more risky than buying(and you don't really have "ownership" of the asset) both are of equal risk in forex where its more of an exchange. Wouldn't it be better to focus on pairs in a clear trend instead of just pairs only going up? I mean if you look at eur/usd or gbp/usd they're in clear "downtrends" but they're in a dollar "bull trend". Its just the way they are quoted. Flip the chart around and they would be going up. Anyways sorry to go off topic definitely looking forward to following along with USDJPY talks as the sky is the limit with this pair.
  • #9
  • Dec 6, 2014 5:46pm Dec 6, 2014 5:46pm
Let's not piss the OP off before the thread even begins to unfold. Occasionally, good people come to forums with some really good ideas to express only to encounter bullshit. Then they question why they even bothered to express what's on their mind publicly and leave, never to return again. I've been following some of the past posting from benaiah and seems like good solid no nonsense trading.

So.... since this is the thread of a BULL, who only wants BULL concepts posted, so be it. It's a way of thinking. It's a mindset. It's a way to stay focused and not get confused. I get it.

I mean the guy said clearly, if you are not down with his thread, go some place else... or better yet, start your own thread. He doesn't want the thread cluttered as this adds to confusion and that's what MM's want. They want you confused.
SPC * Swollen PocketZ Crew!
  • #10
  • Edited 7:40pm Dec 6, 2014 5:49pm | Edited 7:40pm
Quoting thegmann
Ill follow along with this thread, but not trying to be an ass or anything, isn't selling a pair in forex the same thing as buying the other pair? Unlike stocks where shorting is more risky than buying(and you don't really have "ownership" of the asset) both are of equal risk in forex where its more of an exchange. Wouldn't it be better to focus on pairs in a clear trend instead of just pairs only going up? I mean if you look at eur/usd or gbp/usd they're in clear "downtrends" but they're in a dollar "bull trend". Its just the way they are quoted....
Okay, I mean no offense in my reply either, but did you read the first post? Do you understand it?

Obviously, buying a currency is equivalent to selling another. Anybody who trades knows that, which validates my point, in that it is not necessary to ever hit the sell button. As you are already selling AND buying every time you execute a transaction.

It is much easier for the mind to focus on one direction. Is it easier to drive on a one way street or 2-way? Obviously one way is easier, and faster to your goal, which is why we have freeways, and also why the speed limit is typically lower on a 2-way street verses a one way. It is easier to drive on a one way street, as everyone has a common goal.

I recommend you read the first post again, as it seems you have missed the point of this thread, and do not understand the psychological difference in looking for buying opportunities, verses selling opportunities.

However, I welcome you to follow the thread, but I won't be going back and forth with you or anyone else to argue whether this method is better or worse, or we should be trading a different way, etc, etc. That defeats the whole purpose of this thread. I don't criticize anyone who trades in both directions. If that works for you or anyone else, then great. It's not the way I choose to trade, and not related at all to this thread.

The purpose of the thread is crystal clear, I think, and I'm not asking for input to change that purpose. There are plenty of other threads that focus on plenty of other approaches. This is just another thread and another approach.

Again, I expect respect to be shown on this thread, and I too am really trying to be respectful. But the rules of this thread very clearly say it is not about selling. That means selling is not permitted to be discussed here, as it is off topic.

This thread is about buying. Please do not bring up selling again on this thread. I don't want have to keep responding to posts like this, as it is not the best use of anyone's time, including mine.

It is okay if anyone doesn't agree with this thread or approach. I wish success to everyone, and there are many ways to success. But please respect the rules of this thread, and let's stay on topic. Respectfully, if you don't like the topic, there are plenty of other threads with different topics, that you might like. Thank you for posting, and again, you are welcome here, just stay on topic, if you chose to post. Thank you!
  • #11
  • Dec 6, 2014 5:56pm Dec 6, 2014 5:56pm
Quoting JoeNY
Let's not piss the OP off before the thread even begins to unfold. Occasionally, good people come to forums with some really good ideas to express only to encounter bullshit. Then they question why they even bothered to express what's on their mind publicly and leave, never to return again. I've been following some of the past posting from benaiah and seems like good solid no nonsense trading. So.... since this is the thread of a BULL, who only wants BULL concepts posted, so be it. It's a way of thinking. It's a mindset. It's a way to stay focused...
Yeah I know its sticking with the trend and loading on pullbacks not trying to trade them. Its about sticking to one direction "aka the trend" and not trying to pick reversal points but instead loading up again when they happen all in the direction of the over lying trend. I am respecting the OP and I believe benaiah to be a good solid trader who brings a simple no BS approach to trading, similar in style to the way I like to trade. I am just wondering if discussion on say a pair not particularly quoted in the same setup as a USDJPY pair (but still USD bullish) would be able to be discussed as well. I am not trying to post anything regarding short setups in USDJPY. If this is a thread indeed only about USDJPY then im all for that and will treat it as such, however, when I was reading the first post it did mention setups in other pairs and im just inquiring if setups on other pairs would be allowed just because they might not technically be UP in the way they are quoted (EURUSD, GBPUSD, AUDUSD vs say a USDCAD,USDCHF, USDJPY pair).
  • #12
  • Dec 6, 2014 5:56pm Dec 6, 2014 5:56pm
Quoting thegmann
Ill follow along with this thread, but not trying to be an ass or anything, isn't selling a pair in forex the same thing as buying the other pair? Unlike stocks where shorting is more risky than buying(and you don't really have "ownership" of the asset) both are of equal risk in forex where its more of an exchange. Wouldn't it be better to focus on pairs in a clear trend instead of just pairs only going up? I mean if you look at eur/usd or gbp/usd they're in clear "downtrends" but they're in a dollar "bull trend". Its just the way they are quoted....
Hey just want to say, love the title of this thread!! awesome, lol I have a basket of buy only pairs as that tends be the nature of them for the backtest I have optimized to but it is for GJ and EJ. So will be looking forward doing more studies on UJ with others.

The thing is for UJ its natural rhythm is tied to risk trends so naturally UJ will go up most of the time anyway.
All posts are my personal opinion
  • #13
  • Edited 6:17pm Dec 6, 2014 6:02pm | Edited 6:17pm
Quoting benaiah
{quote} Okay, I mean no offense in my reply either, but did you read the first post? Do you understand it? Obviously, buying a currency is equivalent to selling another. Anybody who trades knows that, which validates my point, in that it is not necessary to ever hit the sell button. As you are already selling AND buying every time you execute a transaction. It is much easier for the mind to focus on one direction. Is it easier to drive on a one way street or 2-way? Obviously one way is easier, and faster to your goal, which is why we have freeways,...
Was not trying to disrespect you. Just trying to interpret what you wrote(see my above post). Ok so its strictly a no "sell" thread as in no matter how the currency is quoted if it involves hitting the sell button you won't do it. Gotcha. Sorry I was just confused in what you were trying to explain. Thought it was more along the lines of sticking to overall trend and not trying to cloud your trading with catching every little move in an obvious trending market. Sorry about that ill stick to just my USDJPY, USDCAD and GBPJPY analysis then
  • #14
  • Dec 6, 2014 6:03pm Dec 6, 2014 6:03pm
Quoting JoeNY
Let's not piss the OP off before the thread even begins to unfold. Occasionally, good people come to forums with some really good ideas to express only to encounter bullshit. Then they question why they even bothered to express what's on their mind publicly and leave, never to return again. I've been following some of the past posting from benaiah and seems like good solid no nonsense trading. So.... since this is the thread of a BULL, who only wants BULL concepts posted, so be it. It's a way of thinking. It's a mindset. It's a way to stay focused...
Thank you. I think you get what I'm trying to do here. As you've alluded to, in regards to confusion, many traders have left FF because of all of the different conflicting ideas. If this thread can solidify ideas, unify, and focus many traders into executing good trades, I think it can be an amazing thing to be a part of. Let's see how it goes...
  • #15
  • Dec 6, 2014 6:07pm Dec 6, 2014 6:07pm
Quoting thegmann
{quote} Was not trying to disrespect you. Just trying to interpret what you wrote(see my above post). Ok so its strictly a no "sell" thread as in no matter how the currency is quoted if it involves hitting the sell button you won't do it. Gotcha. Sorry I was just confused in what you were trying to explain. Thought it was more along the lines of sticking to over trend and not trying to cloud your trading with catching every little move in an obvious trending market.
No problem. Like I said, please stick around, now that your clear on the rules, glad to have you on topic.

Part of the challenge that we will focus on in this thread is waiting for the good opportunities, remaing disciplined, patient, and avoiding over-trading.

I will post some charts showing historical data, and how many good opportunities there were, and the benefits of waiting for them, rather than trying to catch trades in both directions. Thank you.
  • #16
  • Dec 6, 2014 6:14pm Dec 6, 2014 6:14pm
Quoting thegmann
{quote} Yeah I know its sticking with the trend and loading on pullbacks not trying to trade them. Its about sticking to one direction "aka the trend" and not trying to pick reversal points but instead loading up again when they happen all in the direction of the over lying trend. I am respecting the OP and I believe benaiah to be a good solid trader who brings a simple no BS approach to trading, similar in style to the way I like to trade. I am just wondering if discussion on say a pair not particularly quoted in the same setup as a USDJPY pair...
Excellent question. For now, I'd prefer to stick to one currency pair at a time, and only USDJPY. In the future, I may be open to multiple pairs. But only USDJPY right now. Let's see how it goes with just this pair.

So, I'm kind of viewing this as the "pilot", or "proof of concept", that will show how beneficial the thread can be, and how focused it can become. I'd hate to start throwing different currency pairs in the mix, and end up with a confusing mess of a thread.

Also, to be a successful trader, you really only need 1-3 good trades a week, and I think right now USDJPY offers more than that. Let's see how it goes? Thanks for the input...
  • #17
  • Edited 6:35pm Dec 6, 2014 6:17pm | Edited 6:35pm
Quoting benaiah
{quote} Excellent question. For now, I'd prefer to stick to one currency pair at a time, and only USDJPY. In the future, I may be open to multiple pairs. But only USDJPY right now. Let's see how it goes with just this pair. So, I'm kind of viewing this as the "pilot", or "proof of concept", that will show how beneficial the thread can be, and how focused it can become. I'd hate to start throwing different currency pairs in the mix, and end up with a confusing mess of a thread. Also, to be a successful trader, you really only need 1-3 good trades...
Ah ok disregard my UCAD post above ill delete it haha. In terms of USDJPY the decisive break and hold above 120 I believe definitely opens up the way for a move to the 124 level before year end. I haven't traded USDJPY much in the last week my focus was on eurusd but the week prior I was eyeing a reload at 117.3 area, regrettably didn't pull the trigger and of course look where we are now haha. Anyways always looking for reloads on UJ.
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  • #18
  • Edited 6:28pm Dec 6, 2014 6:18pm | Edited 6:28pm
UJ BUY 121.40
SL 120
Will use a trailing stop to exit
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All posts are my personal opinion
  • #19
  • Dec 6, 2014 6:21pm Dec 6, 2014 6:21pm
Quoting thegmann
{quote} Was not trying to disrespect you. Just trying to interpret what you wrote(see my above post). Ok so its strictly a no "sell" thread as in no matter how the currency is quoted if it involves hitting the sell button you won't do it. Gotcha. Sorry I was just confused in what you were trying to explain. Thought it was more along the lines of sticking to overall trend and not trying to cloud your trading with catching every little move in an obvious trending market. Sorry about that ill stick to just my USDJPY, USDCAD and GBPJPY analysis then...
Please see rule #5
  • #20
  • Dec 6, 2014 6:33pm Dec 6, 2014 6:33pm
Quoting thegmann
{quote} Ah ok disregard my UCAD post above ill delete it haha. In terms of USDJPY the decisive break and hold above 1.20 I believe definitely opens up the way for a move to the 1.24 level before year end. I haven't traded USDJPY much in the last week my focus was on eurusd but the week prior I was eyeing a reload at 117.3 area, regrettably didn't pull the trigger and of course look where we are now haha. Anyways always looking for reloads on UJ. {image}
okay, thanks for deleting off topic post.
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