Forex rebates on every trade - win or lose!

Hils
I'm sure you have pointed us to the USD/JPY before but I must admit to have not really looked at it very much. Just had a closer look and I see what you mean - if I used my standard indicators it seems to give much clearer (and more secure) triggers. Will have a go and see how I get on over the next few days and weeks - day job permitting.

Thanks

I'm told, Meggers, that the FX text books all say that USD/JPY is the bestest trending trade of them all and that GBP/JPY is the most harem scarem trade. I've never read any FX text books, however (and don't intend to either), so I'm unable to confirm that.

Phew!

Got myself in a pickle today through silly errors which cost me a fair few but recovered with a short then reversed long. In profit now.

And I will look at USD/JPY too.

Still short here for now.

took a small amount out of a small early doors short
and looking to re enter a short above 1.9600

Market really does not seem to want to progress above 1.9670

Runnug a small long from 89.

My indicators are very unreliable at the moment so just trading off price action.

Got me into trouble yesterday so a bit more wary today.

or as seems to be creeping into the English language these days: "A bit more waryer" :-)

Oops!

Long USD/JPY doing OK - so far 8-O

Short Cable 574

Tough out there today.

Harlosh - you're not wrong. I ended up with 3 long positions on the USD/JPY - looked to be going my way but got out for zilch - currently flat. Probably not used to it yet - and probably chose the wrong day to be playing with it.

I'll persevere though - so long as I remember not to try and go against the trend :)

mg - I took a look at it (USD/JPY) after hilary mentioned it again. Today at least it appears to be following the DOW futures - maybe just coincidence ?

Hotei - agreed - almost point by point. Interesting.

Hard luck mg -

got a couple of charts up of it myself now but will watch for a day or two to get a feel.

Errrrrrrr. I think I said that the USD/JPY was the bestest trending trade.

The most commonly used trending indicators are ma's. A quick look at the 1-hour chart with a couple of ma's on it (we all know which two) show that those ma's are falling still and the price action has mainly been below the ma's.

It might turn up over the next day or so, but then again it might not. If it does turn up, I'm sure there'll be plenty of time to go long.

Me? I'm still short.

Smart arse :)

I have my own version of trending - I've still got my flares, and platforms. Some people think I'm trendy - but they're on E wing and tend to fancy anything in trousers 8-O

I know, I know - I just wanted to avago - you know me - bull in a chinese shop !!

mg (hilary's apprentice)

hils - why does this particular pair seem to track the dow so closely ?

Oh, and a hint on which two ma's would be most helpful ;-)

Hotei,

I'm not so sure that the USD does track the Dow.

There are times when it's vogue to think in general economic terms. If US companies are returning record results and everything in the garden is rosy, then you'll want to be long USD. At other times it's fashionable to think about inflation and its effect on interest rates. Then the Dow will go one way and the USD will go exactly the other.

Ultimately, if you're trading the greenback why the hell are you worrying about what other markets are doing? Something about trading what you see?????????

Meggers,

I've got some flares and platforms so all might not be lost. I'm off to the WAGS Boutique tomorrow so I'll let you know if you've still got a chance.

hils - the $/Yen pair tracked the movement in the dow futures today. I simply wondered if there was an explanation for this. Never mind.