DislikedThis is seem really like a failed bearish for me,lets see the daily close todayIgnored
for bullish ,it need a daily close price above 77.12, at least .
A chart helps those who can read it.
USD/JPY Discussion 7 replies
NZD/JPY Discussion 12 replies
long eur/jpy, gbp/jpy, usd/jpy 11 replies
EUR/USD Bollinger Band Discussion 3 replies
Suidster's GBP/JPY Discussion 19 replies
DislikedThis is seem really like a failed bearish for me,lets see the daily close todayIgnored
DislikedThis is seem really like a failed bearish for me,lets see the daily close todayIgnored
DislikedI don't pay too much mind to professional analysts, but I make an exception for Joel Kruger.......when he speaks, I listen:
On the strategy front, with the Swissie short trade now well on its way, we look to the next potential major mover, and this leaves us staring squarely at the Yen. We are now waiting for the currency to undergo a similar bout of selling ahead and have a hard time seeing how things won't play out this way. A few months back very few would have been able to anticipate that the more active central bank would have been...Ignored
DislikedLooks like market is already getting afraid of possible intervention ;-)
Jpy is gaining all over the boards as the G7 summit made it clear that the Japanese shouldn't expect any support from other countries.
Pulling the same trick as the Swiss did is completely out of the question. The Swiss took everyone by surprise. Confident that other leaders at the G7 summit made it crystal clear to the Japanese that such action wouldn't be appreciated and accepted. There are being left in the cold, all alone in the dark.
Market will eat 'normal' intervention...Ignored
DislikedUsd/Jpy pair is Great to always buy at current levels, at least for some good quick pips gain(20, 30 or more), because what is the worse scenarion that could occur?!! collapsing to 75, that's it.. what only 200 pips?!!
Well, any trader can afford risking a possible 200 pips floating account for the bigger intervention prize after you had bought many times & have gain 20 or more pips each time
Today Buy & sell prices are: Buy 76.60/65, 76.30/35, 76.20/25 and 75.95/00 while resistance is found at 77.65/70, 77.75/80, 78.00/05 and 78.45/50Ignored
DislikedI see how you're thinking, but that kind of thinking will get you into trouble sooner or later. You're advocating entering long, with no SL...correct?.....with the thinking that worst case scenario is a possible -200 status....yes?
If so, you're prepared to risk 200 pips for the gain of 20 or 30 pips. That's not a very nice R:R is it? Further....why would anyone risk a trade going 200 (or more) underwater? I'm certain that I have no desire to carry a -200 drawdown.......that for all we know could turn into a negative 400 or more drawdown. That's...Ignored
DislikedIt seem that you didn't get my point. I am not saying to buy at any price and wait for intervention. My today buy price levels are clear where is appropriate to buy this pair, besides who said that I am risking 200 for 20 or 30 pips. 20, 30 or more pips I talked about are for buy orders at certian prices as of today. While if a buy order didn't get right and collapsed below, I am surely not gambling by not settting stop loss at 100 or 200 pips.
Honestly, only a crazy trader would loose money by setting a 100 or 200 pips for this pair at current...Ignored
DislikedIt seem that you didn't get my point. I am not saying to buy at any price and wait for intervention. My today buy price levels are clear where is appropriate to buy this pair, besides who said that I am risking 200 for 20 or 30 pips. 20, 30 or more pips I talked about are for buy orders at certian prices as of today. While if a buy order didn't get right and collapsed below, I am surely not gambling by not settting stop loss at 100 or 200 pips.
Honestly, only a crazy trader would loose money by setting a 100 or 200 pips for this pair at current...Ignored
DislikedWhy are you being so defensive? If you want to fight.....you'll just go on my ignore list......I'm trying to understand your reasoning and maybe help you.
You seem very convinced that BOJ will intervene at or before 75. Why is that? Do you have proof that this is so? Do you know that BOJ will not let it go to (say) 70 before acting?? Who said 75 was the worst case scenario???
And yes you are gambling by not setting a stop loss.....your gambling on BOJ acting at or before 75......but hey.....they might not.....will they act at 75 or won't they?......it's...Ignored
DislikedIt's no single currency pair that the BOJ monitors, instead it's the basket. If you'll plot the respective levels of the majors, you'll see outside Aussie, the rest are all at or breaking the levels of the last intervention, those levels haven't been in play until the last day or two in respect to Cable and Euro...... the levels are ripe for BOJ action, if they do or not is entirely speculation, but the last collective level of intervention hasn't been approached until just this weekend.
fwiw.........Ignored
DislikedWhy are you being so defensive? If you want to fight.....you'll just go on my ignore list......I'm trying to understand your reasoning and maybe help you.
You seem very convinced that BOJ will intervene at or before 75. Why is that? Do you have proof that this is so? Do you know that BOJ will not let it go to (say) 70 before acting?? Who said 75 was the worst case scenario???
And yes you are gambling by not setting a stop loss.....your gambling on BOJ acting at or before 75......but hey.....they might not.....will they act at 75 or won't they?......it's...Ignored
DislikedLOL. I am not beng defensive neither starting a fight..time for that..lol
but just trying to help bullish traders of those pairs not loose money for nothing..
Go away from this ignore list threat, really not concerned about that but you'll only be running to the front by that..
Yes. stop loss for all pairs is found but not always as currently for yen & was for Chf pairs and even now for Euro/Chf pair
It seem that you are a small pips gain target trader mostly a short term so you must set a stop loss because you gain small so your stop loss must...Ignored
DislikedLOL. I am not beng defensive neither starting a fight..time for that..lol
but just trying to help bullish traders of those pairs not loose money for nothing..
Go away from this ignore list threat, really not concerned about that but you'll only be running to the front by that..
Yes. stop loss for all pairs is found but not always as currently for yen & was for Chf pairs and even now for Euro/Chf pair
It seem that you are a small pips gain target trader mostly a short term so you must set a stop loss because you gain small so your stop loss must...Ignored
DislikedI think you two are comparing apples and oranges and you are both right. For a short term trade, 200 pips is too much drawdown, but for a buy and hold strategy, 200 pips is not out of the ordinary. You can make money both ways. I hold 10 contracts long in USDJPY and day trade 10 contracts which I make myself exit before the end of the day. The target prices on both of these are completely different and the risked capital is also very different. I do the same on EURUSD but on the short side. Both systems work and both complement each other....Ignored
DislikedYou are possibly correct. I am looking for long tern entries here, and EJ and UC as well.......in none of those cases will I entertain no stop loss, and neither will I entertain drawdowns of 200+ pips. To me, that just signifies poor entries.
I would be interested to see some TA from TheMoneMaker, rather that just talk.......Ignored
DislikedOK. IŽll give you an example: I entered my 10 contracts EURUSD position at 1.4350 3 weeks ago. If I had set a tight stop loss on it I would have been stopped out not once, but up to 5 times (If I had repeatedly reentered the trade, which I would have done because the technicals still were pointing south very clearly). At one point, on 8/29, I was down 200 pips but the technicals continued to look great for my trade. I still hold that trade for an 800 pip profit so far and intend to continue to hold until the technicals tell me to get out. I see...Ignored
DislikedIndeed there are, and I agree with you up to a point. However, what the poster was saying that started this discussion off was that he thought it was good to go long at these level for a "20 or 30 pips"......with no SL.....because "BOJ will step in by 75". Excuse me, but "20 or 30" pips gain, for a possible 200+ drawdown is not the sign of a long term trader. It is also not indicative of a sensible trader. It is indicative of a gambler. Now he is trying to muddy the water by saying that he is a long term trader and as such, this type of drawdown...Ignored