The yen dropped against the USD 220-points this week (USD/JPY bottom to top). Massive move. Should global factors stay in place, I see no reason why the yen should not continue descending back towards 120.00s and above. Anyone concur? Is anyone else selling yen? Presently maintaining longs in USD/JPY at various levels. dRaWdOwN 116.54 <img src=http://elitetrader.com/vb/attachment.php?s=&postid=1112353>
Well... Though I don't trade fundamentals, only take advantage of them when they fall into my favor.... The way I read the ForEx currently is that the North Korea situation is creating a tension where the world has its fingers on the Sell Yen button - more can be sold at any moment. The rumor of a US spy plane being shot down by the NKs is an instance of that nervous trading (according to news). The other factor is the BoJ raising interest rates. Whereas earlier in the week market participants speculated the rates would be raised (a stray news headline? a rumor?) they aggressively bought yen. A little later in the week, they did an about face, deciding the BoJ may not raise rates or raise them as quickly as the speculators first anticipated. This reversed the tumble seen happening from 115.75 down to 113.90 into a spike that hit over 116.50 wiping out yen-bull gains. The best pair to trade the rest of this month, in my evaluation, USD/JPY, actually because of the specific reasons you wished me luck on. dRaWdOwN 116.54
Hi coinzy Maybe it would be more accurate if you simply said 'I don't trade'. Welcome back, man - it wasn't the same around here without your lies. Actually, now that I think about it... what in the hell does this mean? You don't trade off of fundamentals, except when you do? 'When they fall into my favour' seems to imply 'when they do what I want them to do'. But that would mean you are watching them to see if they are doing what you want them to do. Which would mean you trade off of fundamentals! ??
No, no, you get it wrong againa.... Fundamentals - I no trade 'em. It's when fundamentals mova the market (when others trade 'em) - thatsa when they falla into my favor and I booka da cash. Nowa you geddin it? dRaWdOwN
Hi coinzy Ummm... but.... what you're saying is basically that when markets move, you trade them? Because 'others' are constantly trading the markets based on fundamentals, every minute of every day, especially in the forex markets, which you are always claiming you trade. Right? If you're a technical trader you are trading the moves you see, whatever they might be based on, you don't care. So why the need to state that you trade fundamentals when they fall in your favour?? Looks like a fundamental analysis to me!!
Looka, you still no seea what I a talking abouta. You sit downa and I teacha you something. First, you need to tradea. Not show how stupid you can be herea to everyone, you see nowa? OK... The number - she mova froma one place to another - but I no care. I no trade da numbers. Then, the fundamental and tech guysa, they no understand what they doa, so I trade them? They no matter! I no trade 'em. I win anyway. See, when da number, she mova from here to here then to here... whatsit maddah? I open da trades, I closa da trades. I winna. What you no git about thata? No quotsa, no fundamentals, no chartsa, no techsa. I trada... I booka da casha. Whazza big deala? You maka too much outa it. Whoever maka da trada, I taka da other sida. I have a good time, I maka money. Dats what really matters... maka da money. dRaWdOwN
I trade the yen and euro. I caught the big run up in the dollar last week. I'm flat right now. I never want to go into the weekend with a position. Besides I've been having a couple of rough weeks, sleeping through a trade with no stop in, etc. just be careless. Oh what charting software is that graph on?
You no look right. You looka but you no seeya. I tell you again... Everybody they trada only two ways, uppa or downa. They all losa! So, I comalong and take the other sida. Thatsa the bottom lina. I taka the other sida of everyone who a losa, guess whata? I wina! No need da numbers, da chartsa, da techsa... just taka da other sida, mea. Take it lightly, dRaWdOwN