I’ve been playing long ball on these pairs for a long time now and will stick with the program. Down about $82,000 with an equity of about $318 ,000. I have 19.25 lots going at present. Each 100 pips moves my account $25,000. Willing to wait for a couple years if necessary. Also been cashing in on a few short term trades recently. Made between $3,000 and $4,000 profit in August on them.
I’m confident that patience will pay off bigtime for me at some point.
Any suggestions or comments?
Where are your entries?
At this point in time I dont play with Comdolls or Pairs on historic lows. You really dont know HOW much further down they will go.
USD/JPY from about 76.700 to 84.500 and CAD/JPY from about 78.000 to 83.800. I know it could barrel down a lot further but I don’t think it would stay down too long as below 70 would demolish the already awful Japanese economy.
I know many people who just buy at every increment on down moves because price HAS to retrace. Its just where it retraces we cant play guessing games.
Look at the numbers in my portfolio I posted back in 2011. Fast forward to now (2013) and my balance is $722,845 and my equity is $543,037 with a free margin of $452,968. I guess I’ve made some progress in the past couple years…
:59: right on dude. BoJ is trying to weaken their currency even more… good luck!!
Hi, thanks for the thread!
From a purely technical perspective, this pair is, on a weekly chart, slowly reaching a congestion point within a wedge formation, suggesting that a break to the up- or down-side is on the cards; there is certainly a lot of room for a retracement to 2011 lows for this pair…
Fundamentals also weigh heavily on this pair with
a downward bias, because both a ‘risk-on’ and a ‘risk-off’ scenario, in the greater QE curbing debate, can play out negatively for the Greenback generally but also specifically for the USD/JPY.
Good luck, though, Capper, and let us know how your trade progresses.
