Usd/jpy

HHHHHAAAAAAAAAAAAAA.
LOL

Quote from illiquid:

Yeah I know the feeling, was gonna chase the euro up the second after NFP but I remembered who was behind the holocaust, so figured I should go short instead. But that meant going long the dollar and how could I given a hundred years of insitutionalized slavery. I did the only thing I could, short AUD/CAD since aussies are descended from convicted felons and the canucks never did anything to hurt anyone. That only resulted in a big loss on friday but at least my losses were denominated in US imperialist dollars.
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Quote from illiquid:

Yeah I know the feeling, was gonna chase the euro up the second after NFP but I remembered who was behind the holocaust, so figured I should go short instead. But that meant going long the dollar and how could I given a hundred years of insitutionalized slavery. I did the only thing I could, short AUD/CAD since aussies are descended from convicted felons and the canucks never did anything to hurt anyone. That only resulted in a big loss on friday but at least my losses were denominated in US imperialist dollars.
More...

LOL

:p
 
Quote from downrivertrader:

The mini dude poster really got me thinking. I come here to interact in a virtual space with fellow traders. I have no alterior motives other than that. I like seeing what everyone else is thinking and sharing my ideas with you also. I am in no way making any recommendations on what or how to trade. You will often find me on the other side of trades on days when we are down/up over 100 points. This is my style. I am not suggesting anyone do anything like I do it.

I like peanut butter. It keeps well. If I find it on sale, I buy some cause I know I will eat it. Sometimes I buy too much and have to eat some to get my supply back to equilibrium before I can replenish again. This is my trading methodology.

I do not consider myself a professional trader like some, although I am trying to achieve what I call Master Trader status. I trade full time. I trade for a living. I have 3 kids I am putting through college, a nice nest egg and some manly toys that I enjoy. With that said, I apologize if my comments are taken otherwise, it is not my intent.

I consider myself very good at managing and accepting risk. This is why I am successful. In this marketspace when there is over-reaction on days like today I will not always run for cover. In general, I do not use hard stops. I use a percentage of my equity as a total risk amount. Some days I give it a little room if I have a strong conviction. I look for value to develop in certain areas over time. If I see it, I may exit once it is confirmed. I do my best to post targets and stop areas, but I do not feel any obligation to honor them just because they are posted here. I do what I deem appropriate at the time.




Just for the record

I am long at

114.91
114.60
113.90


I am buying because I feel that this pair is near its low for the year. Fortunately, I am very low on peanut butter. The chunky kind is my favorite and I bought some today. I may have to eat fast. Besides I have never forgiven them for the Pearl Harbor thing.

DRT
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Your average cost is around 114.40, so were is your stop? you were down close to 100 pips during asia trading.

When do you say your wrong?
 
Although I do not feel I owe you an answer on this, standby and I will take a look. Rest assured I will be visiting your journal for better tips on my trading acumen.

DRT


Quote from myminitrading:

Your average cost is around 114.40, so were is your stop? you were down close to 100 pips during asia trading.

When do you say your wrong?
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Quote from downrivertrader:

Although I do not feel I owe you an answer on this, standby and I will take a look. Rest assured I will be visiting your journal for better tips on my trading acumen.

DRT
More...


I am not trying to be wise, I will point out why I would not be long USDJPY. First the head and shoulder tops neck line has been broken, it may bounce and it may not. I would look to short near 114.50-114.90. Thats what I would do with this pair. I would not be long.
 

Attachments

Number One, there is an underlying change that everyone is overlooking. It is close to causing winds of change in the markets. Also my charts tell me that the BOJ will be complacent. It is not interest rates although there is a slight lead held by the lowly USD here. Currently the USD is up by at least 5 goals. Look in your Chinese crystal ball and forget about bombs landing in the Sea of Japan. Now to answer mini dude's question....

First lets look up...

I see the 114.80 area as very key. I am waiting for this battle to be won by USD. Near term I am watching 114.16 area.

Now looking down....

If we do push down, it is easy to see 112.80/20 area. Let call the stop at 112.69.

Now for the target. Let's call the target area 120 first, then on to 140.

I will not deviate from this post. In fact, I will update you regularly on my progress.


Now, could you please share your current view of the market for USDJPY and post your guidance.

DRT

PS - I am short the EURUSD and Long USDCAD. You may find these in their respective threads. Feel free to analyze these trades also.



Quote from myminitrading:

Your average cost is around 114.40, so were is your stop? you were down close to 100 pips during asia trading.

When do you say your wrong?
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If we ever make up to this level, please post your exact entry and your stop. Also, very importantly post your target for the move down.

DRT

Quote from myminitrading:

I am not trying to be wise, I will point out why I would not be long USDJPY. First the head and shoulder tops neck line has been broken, it may bounce and it may not. I would look to short near 114.50-114.90. Thats what I would do with this pair. I would not be long.
More...
 
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