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USD/JPY First Quarter

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rick3117

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Joined: Mar, 2006

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Posted: Mar. 14, 2014 - 12:17 PM ET #651

Sorry 101.40 ( i am really bad at that)

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wallstreetcappers

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Posted: Mar. 14, 2014 - 12:21 PM ET #652

Good luck rick...

And yeah, they were testing the lows and that gem came out, the SPX, all risk trades zoomed.

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rick3117

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Joined: Mar, 2006

Posts: 14715

Posted: Mar. 14, 2014 - 12:32 PM ET #653

Seems like this week has been nothing but false indicators on my trading method.

long Trade triggers on indicators, then another sharp leg downward.

this is an instance where tight stops has saved my behind for the most part.

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rick3117

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Posts: 14715

Posted: Mar. 14, 2014 - 12:57 PM ET #654

On an unrelated note,
I know you worked in the finance industry in the past (as I recall).

did you ever take your CFA?

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wallstreetcappers

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Posted: Mar. 14, 2014 - 1:10 PM ET #655

Quote Originally Posted by rick3117:

On an unrelated note,
I know you worked in the finance industry in the past (as I recall).

did you ever take your CFA?

No...I went the broker route exclusively, so I took the series 7, 63, 55 etc etc...not the "insurancy" route..if that makes sense.

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wallstreetcappers

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Posted: Mar. 14, 2014 - 1:14 PM ET #656

They are trying so hard to push risk, run the markets..

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rick3117

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Posts: 14715

Posted: Mar. 14, 2014 - 2:40 PM ET #657

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wallstreetcappers

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Posted: Mar. 14, 2014 - 3:01 PM ET #658

I saw that earlier on FXDD..

I have almost come to the conclusion that most stuff I read about the Forex outside stating the obvious is always wrong.

So yeah technically these pair had a rough week, that on the surface does not do enough to trade off only.

Why were they weak, what will continue to make them weak?

I care more about the why than if they hit some technical level and moving averages. Technical indicators are a function of the market...outside flow info (as I posted that blurb above) to me all that matters is the reason for the move, the general trend and any flow info I can find.

Reading that the Chinese government has been selling the USD and buying the Euro makes PERFECT sense as to why the moves happened for the last month or so..the Euro was so strong while the USD was listless with no real catalyst.

Lets see how this last hour goes..I am tempted to bail because in the back of my mind I dont think Russia is willing to hold their bluff, too many consequences...

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wallstreetcappers

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Posted: Mar. 14, 2014 - 4:02 PM ET #659

I took half my position off the table right at the close..

So the total position is still at a SLIGHT loss, but I took off some exposure in case something happens and they ramp it on Sunday..

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rick3117

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Posts: 14715

Posted: Mar. 14, 2014 - 4:21 PM ET #660

What is your position wall?

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rick3117

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Posts: 14715

Posted: Mar. 14, 2014 - 5:01 PM ET #661

Closed out my trade with another 8 pips of loss.

Not my week

-78 pips

Wanted to hold through the weekend, but I think that is more of the "chasing mentality" than anything else.

But because I didn't do it, I will be expecting a 102 open. Lol.

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wallstreetcappers

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Posted: Mar. 14, 2014 - 5:56 PM ET #662

rick,

I have been short the LB/Yen for a LONG time...keep adding and finally it came in for me.

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rick3117

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Joined: Mar, 2006

Posts: 14715

Posted: Mar. 14, 2014 - 9:29 PM ET #663

good article from ZH

https://www.zerohedge.com/news/2014-03-14/russians-have-already-quietly-pulled-their-money-west

China and Russia pulling money and liquidating treasuries 105 billion last recently.

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wallstreetcappers

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Joined: Feb, 2003

Posts: 56778

Posted: Mar. 16, 2014 - 7:02 PM ET #664

Markets open and pretty much a snoozer so far even with the vote count in.

Hey rick, next time you have a format request let me know..I could have changed it and not lost the posts afterwords.

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rick3117

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Posts: 14715

Posted: Mar. 17, 2014 - 9:59 AM ET #665

Format Request?

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rick3117

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Posts: 14715

Posted: Mar. 17, 2014 - 10:04 AM ET #666

I got back in last night @ 101.40

Nice little run up with some positive news, but everything is going to be muted until after Mordor speaks on WED.

Downside risk is pretty high with the EU saber rattling/ and talks of economic sanctions putting US treasuries in the cross-hairs.
If EU pulls trigger on sanctions there is up to 750 billion in US debt that could essentially flood the market at once.

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rick3117

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Joined: Mar, 2006

Posts: 14715

Posted: Mar. 17, 2014 - 10:46 AM ET #667

I am out, I do not like all the heat on these sanctions.

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rick3117

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Posted: Mar. 17, 2014 - 11:22 AM ET #668

Looking for a signifigant break in the 101.74 level for another buy.

below 101.20 will be a sell.

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wallstreetcappers

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Joined: Feb, 2003

Posts: 56778

Posted: Mar. 17, 2014 - 11:47 AM ET #669

Quote Originally Posted by rick3117:

Format Request?

I thought you had made a request to fix the margins from the other day, but then I looked above and saw you hadnt..haha

I really dont see why the USM is up 160 pts today..makes no sense to me.

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bucknuts

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Joined: Oct, 2005

Posts: 8951

Posted: Mar. 17, 2014 - 7:36 PM ET #670

Pretty lame week so far..

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wallstreetcappers

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Joined: Feb, 2003

Posts: 56778

Posted: Mar. 17, 2014 - 8:20 PM ET #671

Quote Originally Posted by bucknuts:

Pretty lame week so far..

I have an order in to nibble back at my position I bought back friday..at 169.75

I think the Japan session will start out positive but lets see if they might reverse it after the break...

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wallstreetcappers

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Joined: Feb, 2003

Posts: 56778

Posted: Mar. 17, 2014 - 10:28 PM ET #672

I found this tidbit and found it interesting-

The offshore renminbi rate is down a little in early trading to 6.1678,
8 sessions of decline
At its lowest valuation in 10 months.

Via FastFT (gated):

China's currency is approaching the ?red line? of 6.20 per dollar - a rate that could cause major losses on billion of dollars worth of complex hedging products
currency analysts warn that if the offshore renminbi breaks past 6.20 per dollar, hedging strategies could force banks to call in collateral, accelerating the currency's decline
?A move of the CNH towards or past 6.20 would have major repercussions for the CNY [onshore currency] market and Chinese businesses,? warned Credit Agricole Dariusz Kowalczyk on Tuesday.

-

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bucknuts

Captain

Joined: Oct, 2005

Posts: 8951

Posted: Mar. 18, 2014 - 11:46 AM ET #673

Man I got no luck at all..set a sell order at 142.10 and the pair didnt even breach 142

Nice snag Wall!!!

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wallstreetcappers

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Joined: Feb, 2003

Posts: 56778

Posted: Mar. 18, 2014 - 12:41 PM ET #674

Quote Originally Posted by bucknuts:

Man I got no luck at all..set a sell order at 142.10 and the pair didnt even breach 142

Nice snag Wall!!!

buck,

I have no luck either..my order did not hit, not even close...but the trade is in the plus now even with the half cover the other day.

I saw that smack down and then spike, that went for just about 100 pips and quick, but not enough..same for me..the spike was not high enough to hit my limit.

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rick3117

All-Star

Joined: Mar, 2006

Posts: 14715

Posted: Mar. 18, 2014 - 1:10 PM ET #675

In long @ 101.35
Stop at 101.19 (most likely reverse)

Limit @ 102

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USD/JPY First Quarter

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