Gaining an Edge over the Forex game of Mind, Money, & Wealth
Monday, October 22, 2007
van Gecko 15:31 GMT October 22, 2007
Subject:
HK Kevin 13:28.. hope you're fine.. thanks for sharing your view on the recent move by Eur/Jpy..
imo Usd/Jpy having retraced to the low end of its 2 month range while the Euro is well supported above 1.41 by monemtum bulls after today's 2 figure correction. so from here Eur/Jpy could be the double beneficiary by default should Usd/Jpy and/or Euro consolidate in a side to up fashion back towards their recent highs.. gl
Eur/Jpy @160.50
HK Kevin 13:28 GMT October 22, 2007
Subject:
van Gecko 04:16 GMT, kindly share your expert advice on why EUR/JPY is a buy for position traders in daily and 4-hr chart.
I see it an opportunity for proift taking when it was blocked near 167.80 twice last week. Personally, I still hold a stop sell position from 164.70.
van Gecko 04:16 GMT October 22, 2007
Subject:
Sofia Kaprikorn 23:24.. Eur/Jpy from a technical position trader's prespective is now a buy on substantial corrections on the 4hr & daily charts with adjusted risks to re-target its recent highs.. imo some of those common indicators you mentioned may be used with limit success on a ranging market but are next to useless when the market is trending on the higher time frames.. for position trades, try to watch the slope of the 21, 50, & 200 ma's on the higher time frames and learn to buy/sell on substanial corrections to those rising/falling ma with adjusted risk to suit one's trading temperament & capital.. simplicity & trading with good risk adjusted odds may not be mutually exclusive for positional trading..
gl..
Alaska Moon 02:42 GMT October 22, 2007
van Gecko 02:39 GMT October 22, 2007
=========
Thank you !! Still watching !!
Moon
van Gecko 02:39 GMT October 22, 2007
//Alaska Moon 00:32 GMT October 22, 2007//
========
well done Moon.. you may be an honest exception among all those barking in hindsight, or with foresight but lack the counter human mindset to survive & make some money in this biz.. ;)
Alaska Moon 00:32 GMT October 22, 2007
van Gecko 00:13 GMT October 22, 2007
========
Here is my take.....If the present trend, say for 2 weeks is the same as the trend going back for more than a year....that suits me.
BUT...I have traded EUR/US long for maybe 4 months very sucessfully and now
I am not too comfortable up here at this level....I am flat right now and....THINKING !! LOL
Moon
van Gecko 00:13 GMT October 22, 2007
getting the direction right does not make a better position or day trader if that thing between the ears is not right in this biz.. euro can go up to the moon, but you are only barking up the wrong fx tree if one talk & trade with the same mindset like the majority.. fwiwW..
Trading is not an exact science contrary to the popular belief of most new or inexperience traders.. In trading, we must allow for some margin of errors within our defined risk & trading time frame.. allowing for this margin of error under the constraint of trading in micro time frames with stops & profit targets all inside a small fluctuating market noise band in hope of achieving consistent profits over time is very difficult, if not impossible.. as whenever we are right, we are only small right within the confine of the small P/L band which limit our odds to playing for break even at best over time.. Trading longer time frames allows for a wider margin of error but at the expenses of increased risk.. however, the odds of being right & achieving consistent profits over time are enhanced when good market analytic & trade management strategies are applied under the proper market bias.. When we are right, we need to ensure that we are bigger right over an expanded profit band in-order to compensate for those times when we are wrong..
Subject:
HK Kevin 13:28.. hope you're fine.. thanks for sharing your view on the recent move by Eur/Jpy..
imo Usd/Jpy having retraced to the low end of its 2 month range while the Euro is well supported above 1.41 by monemtum bulls after today's 2 figure correction. so from here Eur/Jpy could be the double beneficiary by default should Usd/Jpy and/or Euro consolidate in a side to up fashion back towards their recent highs.. gl
Eur/Jpy @160.50
HK Kevin 13:28 GMT October 22, 2007
Subject:
van Gecko 04:16 GMT, kindly share your expert advice on why EUR/JPY is a buy for position traders in daily and 4-hr chart.
I see it an opportunity for proift taking when it was blocked near 167.80 twice last week. Personally, I still hold a stop sell position from 164.70.
van Gecko 04:16 GMT October 22, 2007
Subject:
Sofia Kaprikorn 23:24.. Eur/Jpy from a technical position trader's prespective is now a buy on substantial corrections on the 4hr & daily charts with adjusted risks to re-target its recent highs.. imo some of those common indicators you mentioned may be used with limit success on a ranging market but are next to useless when the market is trending on the higher time frames.. for position trades, try to watch the slope of the 21, 50, & 200 ma's on the higher time frames and learn to buy/sell on substanial corrections to those rising/falling ma with adjusted risk to suit one's trading temperament & capital.. simplicity & trading with good risk adjusted odds may not be mutually exclusive for positional trading..
gl..
Alaska Moon 02:42 GMT October 22, 2007
van Gecko 02:39 GMT October 22, 2007
=========
Thank you !! Still watching !!
Moon
van Gecko 02:39 GMT October 22, 2007
//Alaska Moon 00:32 GMT October 22, 2007//
========
well done Moon.. you may be an honest exception among all those barking in hindsight, or with foresight but lack the counter human mindset to survive & make some money in this biz.. ;)
Alaska Moon 00:32 GMT October 22, 2007
van Gecko 00:13 GMT October 22, 2007
========
Here is my take.....If the present trend, say for 2 weeks is the same as the trend going back for more than a year....that suits me.
BUT...I have traded EUR/US long for maybe 4 months very sucessfully and now
I am not too comfortable up here at this level....I am flat right now and....THINKING !! LOL
Moon
van Gecko 00:13 GMT October 22, 2007
getting the direction right does not make a better position or day trader if that thing between the ears is not right in this biz.. euro can go up to the moon, but you are only barking up the wrong fx tree if one talk & trade with the same mindset like the majority.. fwiwW..
Comments:
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Trading is not an exact science contrary to the popular belief of most new or inexperience traders.. In trading, we must allow for some margin of errors within our defined risk & trading time frame.. allowing for this margin of error under the constraint of trading in micro time frames with stops & profit targets all inside a small fluctuating market noise band in hope of achieving consistent profits over time is very difficult, if not impossible.. as whenever we are right, we are only small right within the confine of the small P/L band which limit our odds to playing for break even at best over time.. Trading longer time frames allows for a wider margin of error but at the expenses of increased risk.. however, the odds of being right & achieving consistent profits over time are enhanced when good market analytic & trade management strategies are applied under the proper market bias.. When we are right, we need to ensure that we are bigger right over an expanded profit band in-order to compensate for those times when we are wrong..
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