Hi fader,
first of all let me thank you for your post, indeed appreciated. BY "bullet" I just want to state "trade", meaning that I have some opportunities to get a better effective cost for my trading. In the cad/jpy case I am more than happy with current entry price, but in the current JPY weak scenario one must be ready to act at anytime.
As for the Prime Minister of Japan Story (thank you for raising the subject out), well I think that they are just doing the usual game of opening their mouth whenever they please, but I think that the market is no longer influenced by those comments (unless they have a reaction in terms of market intervention by the BOJ) and so they just vanish in the air quickly.
Regarding my strategy, I look for good trading opportunities and look if they have a good risk/reward ratio. I do not have a time horizon when placing a trade, but rather a clear stop-loss or profit target point. I base my decision purely on technical analysis, with indicators and oscillators that I have taylor-made according to my own needs. The USD/JPY current case is rather an exceptional case that I am having at the moment, not unique, but rather surprising. I have just had 3 times a situation like this before, being a gbp/usd trade the longest I have ever held, for 49 sessions (closed with tiny gains on that one). I basically look for safe triggers (in time and price) that are not going to cause me much trouble even if I am in the wrong direction at first. However, I have more than clear when to exit and so if my indicators turn I will just have to close and re-start. The situation also makes trading other pairs rather different, since as you may have seen I am focusing on same counter-currency pairs (JPY denominated) and the only purpose as I said is to get better effective entry price. When this trade is over, normal market trading, with an extense variety of pairs being traded, should be the name of my game yet again. Patience is the name of the game at this point.
In short, this is what I do in the currency markets, hope that was clear for you... feel free to contact me if you have any comments or questions, will be happy to chat with you.
Happy trading to everyone.
David.
first of all let me thank you for your post, indeed appreciated. BY "bullet" I just want to state "trade", meaning that I have some opportunities to get a better effective cost for my trading. In the cad/jpy case I am more than happy with current entry price, but in the current JPY weak scenario one must be ready to act at anytime.
As for the Prime Minister of Japan Story (thank you for raising the subject out), well I think that they are just doing the usual game of opening their mouth whenever they please, but I think that the market is no longer influenced by those comments (unless they have a reaction in terms of market intervention by the BOJ) and so they just vanish in the air quickly.
Regarding my strategy, I look for good trading opportunities and look if they have a good risk/reward ratio. I do not have a time horizon when placing a trade, but rather a clear stop-loss or profit target point. I base my decision purely on technical analysis, with indicators and oscillators that I have taylor-made according to my own needs. The USD/JPY current case is rather an exceptional case that I am having at the moment, not unique, but rather surprising. I have just had 3 times a situation like this before, being a gbp/usd trade the longest I have ever held, for 49 sessions (closed with tiny gains on that one). I basically look for safe triggers (in time and price) that are not going to cause me much trouble even if I am in the wrong direction at first. However, I have more than clear when to exit and so if my indicators turn I will just have to close and re-start. The situation also makes trading other pairs rather different, since as you may have seen I am focusing on same counter-currency pairs (JPY denominated) and the only purpose as I said is to get better effective entry price. When this trade is over, normal market trading, with an extense variety of pairs being traded, should be the name of my game yet again. Patience is the name of the game at this point.
In short, this is what I do in the currency markets, hope that was clear for you... feel free to contact me if you have any comments or questions, will be happy to chat with you.
Happy trading to everyone.
David.
)) but anyway it is just great to be back now that (FINALLY!!) the usd/jpy stubborn trades have come to an end.