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by Ashraf Laidi
Posted: Nov 10, 2009 16:34
Comments: 611
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This thread was started in response to the Article:

Don't Forget the Yen

Much ado about USD rebounds during falling markets, but JPY strength still outperforms USD.
 
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said
mulhouse, France
Posts: 2822
14 years ago
Jan 21, 2010 22:16
@FRANK

THEY WONT BE INTERVENTIONISM PLAY IN JAPAN FOR THE MOMENT
THE MARKET WILL BOUNCE BACK ON RUMORS AND WIDESPREAD RUMORS.
said
mulhouse, France
Posts: 2822
14 years ago
Jan 21, 2010 21:57
@FRANK

THANKS FOR COUNCELLING AND FOR THE HUMILITY ADVICE

IF U ENTER UR TRADE AT 38 50 RETRACEMENT I EXPECT 300 PIPS DOWN OVER THE TWO WEEKS
I MIGHT BE WRONG FOR THE "TIMING" BUT THE TARGET IS "LOCKED".
FrankBrit
Germany
Posted Anonymously
14 years ago
Jan 21, 2010 21:50
@ said - I played pips before and was too inexperienced, wasn't comfortable with the rapid tempo, too greedy and lost my discipline. The last was the killer vice ... discipline in planning and execution is the key and cooly understanding the extent one's exposure all the while. In addition, add a large dollop of humility.

The longer game suits me much better at the moment and has been working very well since mid-2008. If I can find an FX provider with very low leverage levels available 10-50/1 rather than 100/1 then I might be interested to enter the shorter term fray again. For the time being dailies, weeklies and 1/1 cash is where I'm at.
FrankBrit
Frankfurt am Main, Germany
Posts: 73
14 years ago
Jan 21, 2010 21:39
@ said - I can only say that I have been bearish for a while and a weekly close about 90 would strengthen this outlook - a daily close around 89.50 next week could accelerate things. Personally, I hope it doesn't go too fast so as not to play "Grandmother's footsteps" with the interventionists in Japan.
asad
London, UK
Posted Anonymously
14 years ago
Jan 21, 2010 21:36
Ashraf,

My heartiest wishes & congrats for successfully completing one year on this Forum. (I wanted to send you a card at CMC...but unfortunately, I had been away).

And what can I say that hasn't been said before you & this Forum...so I'll just say a simple 'thanks' (& the rest, ofcourse, you know...in what sight I hold you).

God Bless & keep the good work going... :)


Asad
said
mulhouse, France
Posts: 2822
14 years ago
Jan 21, 2010 21:33
@FRANK

HOW DO MANAGE UR EXIT POINT? I TEND TO BE TOO GREEDY MOST OF THE TIME
said
France
Posted Anonymously
14 years ago
Jan 21, 2010 21:23
@FRANK

MY 38 FIBO IS AN ENTRY POINT FOR A DAILY WEEKLIES PLAY
UR 50 FIBO MIGHT BE REACHED LETS SEE;
FrankBrit
Frankfurt am Main, Germany
Posts: 73
14 years ago
Jan 21, 2010 21:12
Ref last should read ... "I would NOT want to ..."
FrankBrit
Frankfurt am Main, Germany
Posts: 73
14 years ago
Jan 21, 2010 21:10
@ said - ref your last I guess you mean the 38 pct Fib from the last big move. I wouldn't feel comfortable with that ... Perhaps between there and the 50 pct at about 91 but I play the bigger picture more - dailies / weeklies - occasionally getting some "detail" on the 4 hourlies ... so I would want to say more than the daily/weekly trend looks downwards for the present. I only consider targets when I can identify a pattern and then impose the Fibs to see if it matches my own thoughts/targets from the pattern ... so the Fibs don't lead. That's just my way ... wrong / right? Don't know.
FrankBrit
Frankfurt am Main, Germany
Posts: 73
14 years ago
Jan 21, 2010 20:55
@ said - don't disagree with you. I think too many people have written off Japan but much of the bad news is already in the price - unlike many other currencies. Everyone talks about huge Japan gross debt (and it is massive) but the net debt is a reasonable 8 pct which compares very well to many of the G10. Your point on the large proportion of national debt held domestically is absolutely right.
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