Dont touch JPY pairs now, its like playing with fire, easily get burned, Japan Nikkie stock Fell 12%, about 1.2K points write off.

Not for the worst case scenario -> unexpected spike can happen anytime, 10-11am is a perfect example, anyway I am calling off my trading for today. There are too many Random events to be taken into account.

This post has been edited by billytong: Mar 15 2011, 01:43 PM

depending on how important the fundy is. There is no fix rules.

Japan FX reserve? Japan is the worst debt/ GDP country after Zimbabwe in the world. They got Huge unpayed debt. At this rate they are sinking ship into a sea with no bottom.
Well I said a few post ago, dont play with fire or u get burned not trading with no profit is better than -1K pips
As for BoJ inject money, it is a counter measure to kill Yen strength, hence it is why u see a huge bull after a bear. Money injection is to kill Yen(xxx/JPY up), they(BoJ) want yen die, because it is killing Japan economy. Pump money = xxx/jpy pairs BULL. But Central bank cannot fight the market sentiment. The market will always win. The guys who push yen up(xxx/JPY down) are traders around the world. Instead of helping Japan, they are killing them.

USD pairs will pretty much ranging up and down these days, thats what I see, since all traders are putting their focus on Japan nuclear Crisis. Everything fundy will be ignored for temp.

This post has been edited by billytong: Mar 17 2011, 02:21 PM

not exactly, it is the market taking out their stocks positions due to fear of nuclear crisis. You can see this on the carry trades like AUD, CHF too.

Stock fall = JPY up.

Same trying to long USD, seems market say otherwise.

I told u guys there is a lot of unexpected spike in JPY pairs. Stop messing with JPY pairs. Market is bearish, BoJ intervention is bullish, it is a cat and dog fight. It takes a person with crystal ball to be able to consistently profit from this crazy JPY now.

Again keep losses low, no matter what. It is better to lose 20-50pips than 500. If the market wants to go against u 500pips close it let it run and reenter @ 500pips better. There is no reason to lose >50pips. If u have SL >50pips makes sure ur position are at the end of the monthly/weekly trend. SL >50pips are for trades with strong fundamental studies, technical are less useful in long swing positions the held for 1 month to 6 months.

You are not gonna be part of the game if u do not understand Fundamental at all. A lot of fundamental news *big ones can make all your technical useless. Last a few weeks on JPY crosses just proves what fundamental can do to Fx market. I dont think any technical study can predict that kind of moves.

In this game u need to know both, there are no shortcuts.

because in Malaysia law it is illegal collect others money and to trade for people without a license, this can be jail anytime.

Trading forex is legal, since from the Malaysia side you are just doing with bank Wire transfer. All you trading are dealing with broker in other country.

But if you are collecting money from your clients locally then it is different story, you cannot act as a fund manager or brokerage to collect money locally to trade for your client without a license.

This one is very subjective I am not sure, you gonna ask the lawyers, its like giving your bank acc online password to other to access it, there are simply no in law Malaysia to protect this.

EU is more towards ranging if u ask me, Rate hike + Portugal debt issue is countering each other. I think we need to wait after the rate hike next week to get a clearer picture, currently is more like short @ 1.42 long @ 1.40.

It is more likely to range again. We have been 1.40-1.42 for a while.

Range..... Yoo yoo for EU, Up....... and down.....

Lol I already out of my shorts. I suggest u set SL @ BE+1.

Euro is likely to range till rate decision next week Thursday, but I think there is a possibility of it spiking up to newer high.

Better becareful lah, getting hard to trade as ECB rate hike getting closer.

This post has been edited by billytong: Mar 31 2011, 07:08 PM

I Sell and bought euro for scalping lol. Range EU as always, this week is gonna be range to hell until Rate hike.
Gonna take holiday @ Thursday. I am NOT going to get bump in the middle of ECB rate hike.

This post has been edited by billytong: Apr 5 2011, 04:53 PM

your signal is ur own brain and ur experience in trading. A real trader will not even have time to bother all these kind of bullshit.

To me having Risk : reward ratio 1:2 or more can easily make u profitable as day trader.

A simple consistent 10-30pips everyday. Assuming Each pip 1 USD which is a rather small position, 10 to 30pips for 20 days(no of weekdays in a month) can easily bring u 200 to 600 USD. Minus the days you lost say 30 % of profit goes to wrong trades, thats like still 120-400USD remaining. Hey RM360 to RM1200 extra income per month? Why not.

Thats only if u have small capital. You cant complain with that small capital that earn u RM360-RM1200 right?

Some of us here trading position as large as 10USD per pip to 30USD, which is about 10 to 30times of the income I calculate. IMO if u cant make 10pips a day u are doing something very wrong. Everyday Eur/USD move up and down 70-150pips average. Sometimes 200-400pips.

Forex is an investment from start, only will turn into ur primary income when u are experience and large enough capital dont expect double ur capital consistently.

This post has been edited by billytong: May 17 2011, 03:27 PM

Lol, I am still wondering, collecting money is actually more troublesome than spending more time earn bucks in forex if the trader is successful.

1st u need to deal with the payment issue, then a company, then accounting.
2nd If people are paying ur service, they expect questions, customer service. like any trader have time for all these shit. Besides one can get away of all lot of criticism & complains if they are offering service for free.

logic tells me nothing make sense to go this route. but hey in this world there are plenty do not have logic, otherwise how can those with can make money off them? right?

This post has been edited by billytong: May 19 2011, 12:41 PM

not exactly today is the best day to trade, simple short all the way. Make a lot of bucks from this. i only wish everyday is this simple.

This post has been edited by billytong: May 23 2011, 03:38 PM

Agreed, it is also the risk/exposure of natural disasters, turn of events due to Central bank policy, terrorist attacks, death of a politician etc.

One can predict everything work fine if nothing else happen. Who would know Japan is @ such a bad shape now after the earthquake.