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Discovering An Edge

  • #81
  • Jun 22, 2015 1:57am Jun 22, 2015 1:57am
Quoting vlady1974
Bought EURJPY @ 13983.1 SL 50, Will assess and move up. Looking for 4R Edit. That was quick, lol. SL to BE. Risk free trade.
A lot happens between bedroom and bathroom. Stopped out. Re-entry at 13989 which wasn't the best price compared to my original.
A pip is only worth it if you know how much you risked to earn it
  • #82
  • Jun 22, 2015 2:02am Jun 22, 2015 2:02am
Quoting vlady1974
{quote} US stock markets seem to be quite strong despite earlier signs of breaking south. Nasdaq and S&P. This could correlate to lower USD.
Us stock markets never really understood the correlation between us stocks and usd. Tot they should move in same direction?
  • #83
  • Jun 22, 2015 2:49am Jun 22, 2015 2:49am
Added to EJ, Long UJ. Prices later... On a train.
A pip is only worth it if you know how much you risked to earn it
  • #84
  • Jun 22, 2015 2:52am Jun 22, 2015 2:52am
Quoting ephisi
{quote} Us stock markets never really understood the correlation between us stocks and usd. Tot they should move in same direction?
You buy US Stocks with Dollar.if foreign I investors are putting money into stocks they are exchanging currency for USD. If Japan have encouraged inflation then Prices fall on Japan Bonds so sell-off happens. Where else would investors put their money? US Stocks perhaps?
A pip is only worth it if you know how much you risked to earn it
  • #85
  • Jun 22, 2015 3:05am Jun 22, 2015 3:05am
Quoting vlady1974
{quote} You buy US Stocks with Dollar.if foreign I investors are putting money into stocks they are exchanging currency for USD. If Japan have encouraged inflation then Prices fall on Japan Bonds so sell-off happens. Where else would investors put their money? US Stocks perhaps?
Ok, makes sense to me now
  • #86
  • Edited 3:37pm Jun 22, 2015 12:50pm | Edited 3:37pm
Quoting vlady1974
Added to EJ, Long UJ. Prices later... On a train.
Very busy morning so couldn't update.
Got stopped out of early EJ trades for -80. Ouch! Got in again at lower. Still had Long UJ and now all stops at BE. Currently at +132 on the table, let's see what happens.
Edit: EJ bought at 13949 and 13956. UJ @ 12304
A pip is only worth it if you know how much you risked to earn it
  • #87
  • Edited 3:55pm Jun 22, 2015 3:38pm | Edited 3:55pm
Long USDCAD @ 12313 and 12330
Edit: Target 12537
A pip is only worth it if you know how much you risked to earn it
  • #88
  • Jun 23, 2015 12:22am Jun 23, 2015 12:22am
Quoting vlady1974
{quote} Very busy morning so couldn't update. Got stopped out of early EJ trades for -80. Ouch! Got in again at lower. Still had Long UJ and now all stops at BE. Currently at +132 on the table, let's see what happens. Edit: EJ bought at 13949 and 13956. UJ @ 12304
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Moved Stops to +20 and +10 on each of my EJ Longs but got triggered overnight. Damn.Was sitting on +90 on just both of those at one point, but I didn't want to scalp it. The 4H shows it came back to a long term EMA. Not checked yet but looks like general EUR weakness during Asia.
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Took a long on GBPJPY but got stopped out for -40
My conviction on this trade was average and it played out. Meh.
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My 2 USDCAD Longs are still in play at net +23. ÂÂUSDJPY Long on +60
A pip is only worth it if you know how much you risked to earn it
  • #89
  • Jun 23, 2015 12:35am Jun 23, 2015 12:35am
Just reflecting on the EJ, it looks like the short term won over the long term and there will be another opportunity to go for target. Compromising the trade management by moving stops so close to action would have claimed more pips but then diluted the original analysis. I think however I ignored the ATR or at least that after 2pm GMT, the price retraced more than 50%. I will evaluate this criteria. Price could still break over trend line but it's looking weak and ready to break South.
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A pip is only worth it if you know how much you risked to earn it
  • #90
  • Jun 23, 2015 12:45am Jun 23, 2015 12:45am
FX Board this morning
Attached Image (click to enlarge)
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A pip is only worth it if you know how much you risked to earn it
  • #91
  • Edited 2:22am Jun 23, 2015 2:03am | Edited 2:22am
Short EJ 13917
Edit: added at 13930
A pip is only worth it if you know how much you risked to earn it
  • #92
  • Jun 23, 2015 2:45am Jun 23, 2015 2:45am
my thoughts on Yen crosses right now is that they likely stay range bound until Greek crisis is resolved. in addition, keep an eye on the upward trend of their economic numbers and chatter about stimulus plateau and even possibly lessening the amount of stimulus. I would not be surprised, given the lack of momentum in the daily, and absent a Greek resolution, we test the bottom of the upward sloping channel in EJ that has developed since mid April, prior to any substantial move upward. I like the EJ short side, and think that a post Greek resolution EUR pop will set up th best trades of the year fading that move.
Just my .02
  • #93
  • Jun 23, 2015 4:53am Jun 23, 2015 4:53am
Quoting vlady1974
Short EJ 13917 Edit: added at 13930
TP for these was set to 13885. This was hit so net pillage +77All dollar Longs still in play.
A pip is only worth it if you know how much you risked to earn it
  • #94
  • Jun 23, 2015 4:56am Jun 23, 2015 4:56am
Quoting panamamike
my thoughts on Yen crosses right now is that they likely stay range bound until Greek crisis is resolved. in addition, keep an eye on the upward trend of their economic numbers and chatter about stimulus plateau and even possibly lessening the amount of stimulus. I would not be surprised, given the lack of momentum in the daily, and absent a Greek resolution, we test the bottom of the upward sloping channel in EJ that has developed since mid April, prior to any substantial move upward. I like the EJ short side, and think that a post Greek resolution...
Yes, the rejection of 14000 seems to have supported your views Mike. I've flipped on that as well. Scalped the first move. Will try and read the reaction for a continuance entry.
A pip is only worth it if you know how much you risked to earn it
  • #95
  • Jun 23, 2015 8:24am Jun 23, 2015 8:24am
Quoting vlady1974
Added to EJ, Long UJ. Prices later... On a train.
Closed UJ Longs @ 12410, +75 each
A pip is only worth it if you know how much you risked to earn it
  • #96
  • Jun 23, 2015 8:47am Jun 23, 2015 8:47am
well done
  • #97
  • Jun 23, 2015 10:30am Jun 23, 2015 10:30am
I would be hesitant to short JPY rest of the day....reason being monetary policy minutes due early Asia. The hawkish rhetoric and Eco numbers beating expectations leads me to think some profit taking should occur (already started). IF things play out as I see them, I think JPY will strengthen vs EUR,chf, and Gbp over the next week. Just my .02
I also expect the commodity currencies that have taken a beating will see some profit taking into Q2 close.
  • #98
  • Jun 23, 2015 12:48pm Jun 23, 2015 12:48pm
This one is a bit off the normal setup. It's a trade off Double Zero.
Shorting AUDNZD off 11300. Sold @ 11290, would like 11230

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A pip is only worth it if you know how much you risked to earn it
  • #99
  • Jun 23, 2015 12:58pm Jun 23, 2015 12:58pm
USDCAD Long still in play.

Opened new USDJPY Long @ 12388.2. Conviction: Scalp. Target 12420 or 12450
Attached Image (click to enlarge)
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A pip is only worth it if you know how much you risked to earn it
  • #100
  • Jun 23, 2015 5:38pm Jun 23, 2015 5:38pm
Long USDCAD @ 12329, target 12629
Short AUDNZD still in play, target 11215
Long USDJPY added @ 12400, decided to go for long range target of 12620 and 12685
A pip is only worth it if you know how much you risked to earn it
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