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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 1558
Posted: Feb 22, 2010 5:00
Comments: 1558
Forum Topic:
JPY
Discuss JPY
will the yen-cross weaken further even thought they meet heavy resistance lines; what is the impact of the NFP figures in your mind ?
Japan is in a deflation down spiral hence has "negative" inflation. EURO zone CPI goes up and up despite of only low paid new jobs.
Ashraf
And of course EUR/USD short opened at 1.36 .
Welcome back.
Haven't read Livemore - maybe I should - would have made fewer mistakes. Get it - how you test the water, sometimes I do make the mistake of testing to much - which eats up profits - but I normally learn from these small loses.
I don't understand the yen fundamentals either (not that I care) - just trade on technical analysis.
Yen trade is working well at this stage added to the original short (93.6) at 94 which it just kissed.
Will take a few days to work out - if it does . looking for sub 92. will need to set up stops and limit orders as I am off to Fiji for a few days
This reminded me a little bit of the stories of Jessie Livermore who would test the market with small (or in his case, perhaps not so small) trades.
Being a low-leverage man myself as well, I often regard a lot of my trades as test trades.....kind of like dropping a twig in the water to see which way the current is flowing. I also use them as kind of "markers", if that makes any sense.
Having said that, I'm not in any JPY trade myself at the moment. I don't think I understand the JPY well enough yet (not that I necessarily understand the USD, the EUR, the GBP, ....etc either :-))) ).
@catnip: could you tell me more about your trade planning according to bond & credit markets, please? Post it here or send me a mail at ptaczek@gmail.com Im interested in what you usually do, how you evaluate the data and where do you acquire the data :)