Dollar-Yen Update (USDJPY)

New comment
 

Hi,

I would like to open a topic to discuss about the dollar yen USDJPY pair Which is my favorite pair.

 

Dollar-yen rocks. you do not need to see dollar index or yen indexes....if usdjpy falls, you know yen is weak, if usdjpy rises u know dollar is strong.

It takes 1-4hours for dollar yen to move 20-30 pips , so its possible to invest 50-75% of your balance to get a high profit outta it.

It barely does 100pips a day usually....so you can be sure u wont lose 100% of your trade.

I just love it.

I just tested it with 900$ and turned to 2200$ on my friends avafx, i tested it on my free fxdd 100$ and grew to 150$ this week.

I think this pair is the star pair for anyone who needs easy money.

Unlike gbpjpy or eurjpy that goes 50-100 pip in a blink of an eye and has other factors like gbpusd, eurusd and usjpy that affects its movements.

Cheerio and lets discuss this great usdjpy pair here myfriends

 

ok .thats well.but i think i will do better

 

Hi dznmrd,

I'm interested, what is your strategy on this pair ?

 

Some important questions.......

I realize that my comments are not dollar-yen specific, but I have a few questions and I hope my comments will be worth reading.

What type of Risk Management strategy are you applying to your trading method? It appears extremely risky.

dznmrd:
its possible to invest 50-75% of your balance to get a high profit outta it.

Imagine that you have a $100,000 account rather than a $100 account. Would you still risk 50-75% of your balance ($50,000 to $75,000), on a single position & for every trade? Why is taking that position worth such a huge risk to your livelihood?

dznmrd:
I think this pair is the star pair for anyone who needs easy money.

I have issues with this statement because, if there is one thing that FX has taught me, it's that FX is not the place to seek easy money. Everyone needs money to live and reach our highest potential, and most of us want it to be easily attained. Of course there's nothing wrong with that desire, because it's human nature to want to produce the most possible output with the least possible effort. Capitalism & entrepreneurship, and the modern luxuries we enjoy, are made possible by that desire.

However collecting & recycling aluminum cans is easy money, and is a more profitable & dependable business than currency trading for most people. In FX, your gains are made possible only by someone else's loss (and if you aren't working with an ECN, those losses likely come from another trader who uses the same dealer as you). There are many people and institutions competing to be & remain profitable, including the broker/dealers. The belief that easy money is possible in FX works to your currency dealer's advantage because they can simply allow you to make small profits in the short-term, to entice you & build your confidence, and then begin using dishonest tactics to drain your account after a few large deposits (which you would make after building your confidences in your strategy and their firm).

So, how will the trading strategy remain profitable when you start making more money? Since your dealer will know that you're risking nearly everything every time you trade, how will you protect yourself and prevent them from sabotaging your method (whether via stop hunting, "system errors" or other techniques)? What level of leverage are you using, and what level of leverage do you see yourself using in 5 years, assuming you're still trading at that time?

 

Looks like usdjpy is on the bullish side from looking at the daily chart. Im going to long usdjpy at 99.50, stoploss 99.20.

Tp1 - 99.75

tp2 - 100.00

tp3 - 100.35

lets hope, cheerio

 

==== post deleted ====

 

USD Pending Home Sales m/m

.... in 1hour30mins. Should help increase volatility on the usdjpy pair.

 

[02:12 USD/JPY: Consolidates In Asia In A Tight Range] Sydney May 5. Range trading has dominated this morning"s Asian session and the USD/JPY has been sidelined in a 98.70/98 range, as the Tokyo holiday curtails volumes and local investors stand aside, with further range trading expected into the European open. Resistance comes in at 99.55/60 that held repeatedly on Friday and overnight, while support starts at 98.50, being Friday"s low. A sustained break targets 98.00, Wednesday"s high and the 10 day moving average. The USD/JPY trades 98.77/82. Andrew M. Spencer

 

Its been on downtrend since 9am EST last Friday, since the NFP news.

Its been on downtrend since 9am EST last Friday, since the NFP news. Been riding short trades all week

Files:
downtrend.gif  54 kb
 

Holy shitt! USDJPY is back on the nasty downtrend.!!

12
New comment
Reason: