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USD/JPY Discussion

  • #65,781
  • Apr 26, 2017 3:50am Apr 26, 2017 3:50am
I'm actually long on that stab downward....I still expect price to return to higher levels before a final drop down....111.375 area. I have had a hard time getting a handle on it though.
  • #65,782
  • Apr 26, 2017 3:51am Apr 26, 2017 3:51am
Quoting Trade-G
{quote} That's most exciting different people have different overviews! great entry !
Given enough time and if gyration is survived. Everyone makes money. Enough margin in the account can help change a moderate entry into a good one.
  • #65,783
  • Apr 26, 2017 3:54am Apr 26, 2017 3:54am
Quoting FXClarity
{quote} Well, I guess when you are a technical trader you need a framework to operate in this chaos in an attempt to apply structure to what might well be random. Throw in some position sizing and money management and it becomes a business plan. Then you need the discipline to trade and only trade in line with your business plan which means you have to let go of anything that doesn't fit. Kinda helps you from going completely insane
Honest words, but most difficult to achieve in reality. Trading becomes addiction and stops being a day job.
  • #65,784
  • Apr 26, 2017 3:55am Apr 26, 2017 3:55am
Quoting FXClarity
{quote} Well, I guess when you are a technical trader you need a framework to operate in this chaos in an attempt to apply structure to what might well be random. Throw in some position sizing and money management and it becomes a business plan. Then you need the discipline to trade and only trade in line with your business plan which means you have to let go of anything that doesn't fit. Kinda helps you from going completely insane
Still grappling structured trading and discretionary
  • #65,785
  • Apr 26, 2017 3:55am Apr 26, 2017 3:55am
Quoting NMZee
{quote} Honest words, but most difficult to achieve in reality. Trading becomes addiction and stops being a day job.
Night job. I work full time regular job. Come home, eat dinner, shower, etc, go to sleep. Typically wake up around 1AM to get in for London session. Then go to regular job at 8. Rinse and repeat. Thank god forex is closed on the weekend.
  • #65,786
  • Apr 26, 2017 3:56am Apr 26, 2017 3:56am
Quoting NMZee
{quote} Given enough time and if gyration is survived. Everyone makes money. Enough margin in the account can help change a moderate entry into a good one.
Oh, that's very true; a test of Prop Traders was once to put them in on a random entry which went offside and tell them to trade their way back to at least break even.

Once a trader learns how to apply position sizing and money management they truly advance.
  • #65,787
  • Apr 26, 2017 3:57am Apr 26, 2017 3:57am
That stab down is an excellent buy zone with tight stops, looking if the trendline resistance on 5 will breached, if it does its gonna revisit top
  • #65,788
  • Apr 26, 2017 4:01am Apr 26, 2017 4:01am
Quoting Kanzler
{quote} Night job. I work full time regular job. Come home, eat dinner, shower, etc, go to sleep. Typically wake up around 1AM to get in for London session. Then go to regular job at 8. Rinse and repeat. Thank god forex is closed on the weekend.
Keep your drawdown under 10% and attain anything above 1.5% a month returns for at least 12 months then socialtrade or open MAM or Pamm and you will attract capital and trade for a living if that is something that appeals..

Then when you get over £100k (min) you can choose to start thinking about carrying on with that structure or trading for yourself (at £100k you can probably just make a living from your own account),
  • #65,789
  • Apr 26, 2017 4:02am Apr 26, 2017 4:02am
Quoting FXClarity
{quote} Keep your drawdown under 10% and attain anything above 1.5% a month returns for at least 12 months then socialtrade or open MAM or Pamm and you will attract capital and trade for a living if that is something that appeals.. Then when you get over 100k (min) you can choose to start thinking about carrying on with that structure or trading for yourself (at 100k you can probably just make a living from your own account),
That is the long term objective. But getting that demo track record is the first priority.
  • #65,790
  • Apr 26, 2017 4:09am Apr 26, 2017 4:09am
I wish you well.

its a long and bloody winding road but getting your Strategy nailed in demo before committing funds is the right way to go.
  • #65,791
  • Apr 26, 2017 4:26am Apr 26, 2017 4:26am
Hey guys. I'm new to Forex Factory. I see you guys have your eyes on the Yen. You think it would go down to 110 or 109? Then Trump comes with his tax plan it could shoot up again? It could reverse. I'm trying to figure out a plan for today.
  • #65,792
  • Apr 26, 2017 4:36am Apr 26, 2017 4:36am
Quoting Kanzler
{quote} That is the long term objective. But getting that demo track record is the first priority.
First of all man hats off tou for being so disciplined and dedicated. You will go places by grace of God.
Spesking strictly from my exp and its my view not a generalisation, you can never compare demo performance to a real acct becuz the real Fear and Greed is absent from the demo. Playing with real money is the thing. When you see blue u kust want to book it. When you see red you dtart checking charts and lvls from where it will bounce back. You hedge you over trade you become impatient......so on and so forth.....however silver lining us after blowing 2/3 accounts you hopefully learn the trick of the trade.☺
  • #65,793
  • Apr 26, 2017 4:39am Apr 26, 2017 4:39am
What time is the Trump tax speech?
  • #65,794
  • Apr 26, 2017 4:40am Apr 26, 2017 4:40am
Quoting NMZee
{quote} First of all man hats off tou for being so disciplined and dedicated. You will go places by grace of God. Spesking strictly from my exp and its my view not a generalisation, you can never compare demo performance to a real acct becuz the real Fear and Greed is absent from the demo. Playing with real money is the thing. When you see blue u kust want to book it. When you see red you dtart checking charts and lvls from where it will bounce back. You hedge you over trade you become impatient......so on and so forth.....however silver lining...
I play poker too. In some respect I'm a little desensitized to risking real money. But you're right, there are tendencies like that, quite natural I think.

As for this market tonight...got out of my long with a mild profit after it sat around making me nervous for an eternity. Should have sold it at the first trouble spot but didn't, and was punished by having to be patient for the second go. Still down for the night so far but if we can make it to those sell levels....I think it will be more than worth my time. 111.325 is the first level, may move through it to get to the one just above though. Did the same thing with demand that it's been bouncing off of the last hour and a half, cut though the first DBD and then tapped the fresh demand right below it. Stacked is usually a good bet but you don't always know where you should buy or sell at initially.
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  • #65,795
  • Apr 26, 2017 4:43am Apr 26, 2017 4:43am
Quoting Starcraftmaz
What time is the Trump tax speech?
Is this going to lift up UJ?
  • #65,796
  • Apr 26, 2017 4:56am Apr 26, 2017 4:56am
{image}[/quote]
How many pips you look for, per trade / per day?.
Why so eager to sell. Sell zone at 111.40 /111.60 looks yummy??. Are you thinking it is going up since 108.1x its over 300 pips, its time for a breather a bit of correction?. All logical and practical thoughts. I am also waiting for 110.96 to long. But i will wait for DT speech out of the way. My gut is telling me against my tech analysis. This move would be fundi based. I want to short from your levels but i will wait. Its a good 100 pip trade. Just need to know the direction. Apart from that. Loved your set up. Beautiful. Wish i could have joined you.☺
  • #65,797
  • Apr 26, 2017 4:58am Apr 26, 2017 4:58am
Quoting NMZee
{image}
How many pips you look for, per trade / per day?. Why so eager to sell. Sell zone at 111.40 /111.60 looks yummy??. Are you thinking it is going up since 108.1x its over 300 pips, its time for a breather a bit of correction?. All logical and practical thoughts. I am also waiting for 110.96 to long. But i will wait for DT speech out of the way. My gut is telling me against my tech analysis. This move would be fundi based. I want to short from your levels but i will wait. Its a good 100 pip trade. Just need to know the direction. Apart from that. Loved your set up. Beautiful. Wish i could have joined you.☺[/quote]
My SL would be 111.52 if i was going short.
  • #65,798
  • Apr 26, 2017 5:01am Apr 26, 2017 5:01am
There's several reasons. First, there were some moves earlier that indicated market movers were trying to shake people out of longs to go short. Then, we had a second move that had a higher high and higher low...another shakeout move, looks like a double top almost. Then we have supply cap, and areas of selling going on in critical areas. I wouldn't buy for anything more than a short term gain.

Naturally take it with a grain of salt...but I feel pretty strongly about it that I may just hold any shorts I can get a hold of. FYI EUR/USD also looking bearish on the H4.
  • #65,799
  • Apr 26, 2017 5:17am Apr 26, 2017 5:17am
Quoting FrayFX
Hey guys. I'm new to Forex Factory. I see you guys have your eyes on the Yen. You think it would go down to 110 or 109? Then Trump comes with his tax plan it could shoot up again? It could reverse. I'm trying to figure out a plan for today.
I wouldn't worry about the news is going to do, especially when what's going to be said is pretty much already known (Trump = tax cuts). Most of the time all that stuff is priced in and if you know what to look for on the chart you will notice how smart money uses news volatility to scare people into doing the wrong thing at the wrong price so that they can get the best positions possible at the best prices possible.
  • #65,800
  • Apr 26, 2017 5:22am Apr 26, 2017 5:22am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
UJ Cup pattern

trade your own setup , here is my view.

Attached Image (click to enlarge)
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read about cup pattern in the net
be carefull its your money and your risk
from level to level - you need mental strength to reach the summit
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