EUR

This one is for angry young men, Merlin ? or anyone prone to depression.
http://www.bbc.co.uk/news/magazine-23229014

wat da bad news, Dave?

All sounds barking mad :-)

You have said many things Merlyn, many of them contradictory. Take a break from trading--leave Ashraf in peace.

All

My aim was not to disturb the peace here. It was meant to be purely a healthy criticism so that quality of calls can improve. Ashraf is a very good "analyst" and I said that he is TOP 3 imo for analysis of central banks and fundamental economics. His calls on GBPAUD, AUDUSD and USDJPY stands out. But he may not be best forex "trader" given he ends up chasing a lot. His stop placement needs to improve.

Now lets discuss the call to short USDJPY based on a death cross. There are research studies available which suggest that in the immediate aftermath of a cross, the pair will move against the cross. Its called a shakeout of traders who jump in early. Everyone in the forex world has seen that cross. Not a big deal. What will market do? Logical that markets will go against the early kids who jump in for the easy 200 pips? Will trading be that easy?

Second reason why you should reconsider USDJPY: US and EU yields have broken to new highs. Hope you saw that. 2.83%? You think USDJPY is going down after that? It may later but now or next week? See how close your stops are.

Third reason: There are some major resistances at 98.5 and 99. So imperative that some stops will be hurt. That is how forex works. Its called stop hunting.

So there is my 2 pence on your USDJPY call. When one trades and loses money and over 5 months continuously, then one starts learning all aspects of trading instead of just one or two aspects like a stochastics and cross. I also explained how your EURUSD long was wrong. Sure enough here we testing your second stop at 1.3380.

So excellent analysis on economics and fundamentals but trading is a different beast all together.

Hope we forget and move on. I requested Ashraf to delete my post but he has not yet done that. Please pardon if this seems one sided criticism as I dont aim it to be. He is a damn good analyst.