Monthly Thread: March 2004

R

rezo_s

Hello Everyone!!!

I have just bought USDJPY at 109.05. That is the price the second I am posting this.
Small target is 55 pips with 35 stop, and for those who prefer longer term target, its 111.00 with stop at 108.35.

Good Luck!
 
We've been as high as 109.45 over the night, now trading at 109.25.
After 40 pips in favor, I have just moved stops to lock 10 pips on small target trade (from 108.70 to 109.15) and to breakeven on longer term trade (from 108.35 to 109.05).

Good Luck!
 
Quote from rezo_s:

Hello Everyone!!!

I have just bought USDJPY at 109.05. That is the price the second I am posting this.
Small target is 55 pips with 35 stop, and for those who prefer longer term target, its 111.00 with stop at 108.35.

Good Luck!
More...

Why did you go long?
 
as usual, you're dreaming, Rezco_s. you must love losing.

usd/jpy is toast. the spike was on total mass hysteria panic - come march 4th it'll drop to 107 and melt down from there back to under 105.

No way will it see the heights you're blabbering on about.

anyway, thanks for your money. make sure you keep that stop in there. I don't want to take too much of the money you manage at one time.

Overload

Quote from rezo_s:

We've been as high as 109.45 over the night, now trading at 109.25.
After 40 pips in favor, I have just moved stops to lock 10 pips on small target trade (from 108.70 to 109.15) and to breakeven on longer term trade (from 108.35 to 109.05).

Good Luck!
More...
 
Please read thread from February (http://elitetrader.com/vb/showthread.php?s=&postid=436223#post436223)
I posted charts and explanation. I wrote back then that buying this pair may be considered for 111.00 target.

Here is the quote from 02.22.04 11.41pm from that thread:

Quote from rezo_s:

USDJPY: Very attractive for buying even though we saw very strong USD buying already. The possible target I see at the moment is 111 figure (to be more accurate, 111.10 – the 38% fibo of August 2003 – recent 105 lows). First resistance is coming from 110.00–110.50 area, after which the 111.00 should be triggered.
If we continue looking at the Fibo levels, we see that next important level coming is the 50% near 113 level. I don't know how relevant is it to talk about it right now due to the long lasting down trend. It took more than half a year to make this way down, so taking back 50% of it seems little too much in such a shot period.
To sum up, 111.00 seems reasonable to be seen in coming week(s), but afterwards and even on the way there, we may see selling anytime. Therefore, buying should be done with tight stops (not more than 50 bp). This is the only one out of major pairs I see as best to buy. Will see during the week how it goes. Once again, looking at overall picture, its best to stay away for some time and watch for further developments, but if buying USD, then this is the pair to do so.

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More...

And see attached the chart from that same post.

Hope this makes it clear. If not, I am here for you :)

Good Luck!
 

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Quote from Baruch:

Why did you go long?
More...

Rezco_Iris, spare us your delusional forex psychobabble, take your Refco management account and go back to the morons at MoneyTec.

Then again, maybe you should stick around - taking your money is fun!

Gamal Saham Ruach
 
Rezo,

Just keep in mind where garbage like the post above comes from. Small minds. Petty minds. People who have nothing to offer but vile and personal invective. This is a public forum, so what can we do to prevent it? Let's hope the moderator is on the ball and gets rid of it quickly. I won't dignify it by saying more.

But I do want to say all the best to you in your trading. Please keep posting your trades and reasons why. I and many others here read you faithfully.

Best wishes,

chaos
 
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