*Official* Forex Trading thread.

[[M]aiev]

Yes practice makes perfect. I learn a lot about risk to reward ratio.

In life, anything that involves risk is all about potential rewards; doesn't matter it is in trading financial asset or not..

Risk $1 for the potential reward of <$1 ? I wun even do that.

 

[eboy]

counter trend trader spotted

Why do u say that?

 

[[M]aiev]

Why do u say that?

The market bias wise is downtrend, why should I long it in the sense of the estimation of trend reversal; unless you scalping then i bwg.

 

[Mr.Canberra]

USD/JPY

USD/JPY plunged to ¥114.00.

My LONG position at ¥114.62 haha.

 

[Mr.Canberra]

Risk $1 for the potential reward of <$1 ? I wun even do that.

Many still risk it with 4D and ToTo.

 

[[M]aiev]

That one cannot kong la; but I will never hoot that number if being "shared". LOL

Many still risk it with 4D and ToTo.

 

[Daimon]

What a plunge.

 

[awful999]

USDJPY back to -30 pips ...haha

 

[Clock]

i think short USDJPY and USDCAD for the next few hours and close them before US market opens.

 

[Mr.Canberra]

USD/JPY

USDJPY back to -30 pips ...haha

You stop loss again?

My LONG position tio stuck at ¥114.62. This whole afternoon can take a break liao!

 

[awful999]

You stop loss again?

My LONG position tio stuck at ¥114.62. This whole afternoon can take a break liao!

Yes, trigger SL . Reopen a long at 113.86 this morning..

 

[Daimon]

Scalp 20pip from 113.82 to 114.02.

Expecting a sudden selloff later.

 

[Daimon]

Too much scalping. Rate is unstable.

 

[Daimon]

May reopen Long at 113.20

 

[Daimon]

I notice they like to swallow the red candle stick then spit out a big red long candle.

 

[Mr.Canberra]

BULLET: DOLLAR-YEN: Long liquidation ahead of today's US....

DOLLAR-YEN: Long liquidation ahead of today's US jobs data took the rate back under Y114.00 overnight to Y113.58. Cross buying with added leveraged demand supported the dip, rising UST yields extended the recovery to Y114.11 but with lack of follow through drifted ahead of Europe. A break of the Asia high (Y114.19) opens offers at Y114.50, techs behind at Y114.77/83 (100-wma, Dec1 high). Support at Y113.72 (76.4% Daily Y113.58-114.19). The dollar encounters a fresh bid tone at typing, last Y114.07.

 

[Mr.Canberra]

BULLET: DOLLAR-YEN: MNI Fundamental levels (orders,...

DOLLAR-YEN: MNI Fundamental levels (orders, options, techs)

*Y115.42 1.618% swing of Y113.99-111.39 & Weekly cloud top
*Y115.25 Offers building
*Y115.00 Strong offers, Barrier?
*Y114.87/90 Feb16 high, strong offers reported on platforms
*Y114.77/83 100-wma, Dec1 high
*Y114.50 Minor offers building
*Y114.19 Intraday high
*Y114.04 ***Current market price 0706GMT Friday
*Y113.72 76.4% Daily Y113.58-114.19
*Y113.58/50 Intraday low, 38.2% Y111.36-114.83
*Y113.00 Medium demand/Y113.09 50% Y111.36-114.83
*Y112.69/60 61.8% Y111.36-114.83, Euro low Nov30
*Y112.50 Option-related demand/Expiry $1.64bn
*Y112.18/06 76.4% Y111.36-114.83, Nov30 low
*Y111.75/63 Expiry $500mn, Nov29 low

 

[Mr.Canberra]

USD/JPY

Good time to open LONG position at ¥114.00 level before London session starts.

 

[cReDdY]

what are your thoughts for GBP/JPY?

 

[Mr.Canberra]

USD/JPY

Yes, trigger SL. Reopen a long at 113.86 this morning.

You can lock in your profit first. Nobody knows the direction heading into London session.

For USD/JPY my bias is rather LONG than SHORT. If position stuck I can carry trade and earn swap interest (reduce the order price daily).

Since my position stuck and out of action for this afternoon I am going to NTUC Fairprice to buy some eggs and groceries. During trading days I mostly stay at home. Never leave the doorstep for few days except to buy food occasionally!