Baruch's Forex System Journal

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Quote from Baruch:

Hi Chaw,

No, you are right - only mine. Feeling a little bit lonely. Maybe they were busy shorting Nasdaq? LOL Have you made your first trade?
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Baruch,

No, I haven't. I am going to wait for EUR USD to go short.

I reckon when it hits 1.1929 it will short.

What do you know about FXCM?

are they any good?

Thanks
 
Quote from TRADERguy:

I don't know about others but I'm licking my wounds and indulging in an alcoholic beverage-- losses were not that big but they were losses and I hate f$#king losses.

Chaw- what timeframe are you thinking of trading? i.e. daytrading, several days, or longer term? Can you watch the market for most of the day or do you have other obligations?
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Traderguy

I can watch the market all day.

WHat timescale would you recommend using the MA 10 MA40 crossovers?

Baruch reckons i should use 30 min
 
Quote from jrichman23:

hello everybody, what does everyone think about going long jpy?
at 1 am est boj news is coming out. I'm in long at 112.81
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I'm not quite sure if you're long or short USD/JPY. Either way, I'm looking at shorting USD/JPY and I'm rather bullish on the Yen in general just looking at the charts - especially the daily charts. Looking at shorter time frames of USD/JPY (namely, the 1-4h charts) I can't really discern anything concrete, though it looks like a long play may prove profitable if you can time your exit properly. Hopefully, in the next few hours things will become clearer.

Fundamentally... I have no idea how to play it. From what I was reading, the BoJ isn't expected to change their monetary policy, so I'm not sure how that will affect things. However, the Nikkei and Yen futures have been up. Speaking of the Yen futures, it appears they're getting ready to make an upwards move.

*shrugs* This is what makes this fun... :D
 
Is EUR USD Planning on making a big move downwards?


Any idea when??

Thats what i wanna place my first ever trade on.


Any ideas!?!?
 
Quote from jrichman23:

Yes, I am sorry, I mean long usd/jpy, I am long at 112.81
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Just my opinion, but I'd be careful about holding this too long. I'm by no means an expert, and I may very well be wrong, but discretion is the better part of valor. I'm reading through bloomberg now (Baruch will be so proud! :D) and the news stories seem to point to continued strengthening of the yen.
 
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