short usdjpy

[escoe]

should i go short usd/jpy...i say yes but sites say no????

o and i meant off the daily charts thanks

Originally Posted by escoe

should i go short usd/jpy...i say yes but sites say no????

o and i meant off the daily charts thanks

If you have to ask, then the answer is no.

I would suggest that you take some time and learn more about analysis and strategies because it looks like you don't really know what to do. No offense meant.

Do yourself a favor and go through the free Babypips school before doing anything else.

[rosendo12]

your gut said yes and at 2100 it was at 113.40...if you went with your gut at 1900 it would have been at 113.95 all the way down to 113.40....I'm curious, what did you do?

[escoe]

none taken...but check out the parabolic dot....macd is crossing....RSI is above 50 and pointing down....yes i know, it has crossed up over the 100ema...but what else?

o yea and check the fibo

[escoe]

Originally Posted by rosendo12

your gut said yes and at 2100 it was at 113.40...if you went with your gut at 1900 it would have been at 113.95 all the way down to 113.40....I'm curious, what did you do?

i shorted baby...locked in +20 so farnow +30 as in stop loss...i got 30 pips locked in

[n_aftab]

I think there is a serious lacking of a system here, this needs cleared up and documentated before you even open your trading platform.

Look at it like a business, you have a business plan, you have employees, once the plan is written you now take on the role of the trader, your job is to execute the trades to the plan, every month is would be a good idea to put on your managers hat and review the trades.

The trading plan should as a minimum have

entry
exit
not forgetting the most important money management

You can detail it with other things such as wich currency pairs and time frame, but i believe that you need to be specific, write it down and then stick to it.

there is no i say yes an the site says no, what does your plan tell you to do? when you stick the trading in this manner, you reap the rewards, you are responsable for your wins and losses, not some advice from a forum!

N

Originally Posted by escoe

none taken...but check out the parabolic dot....macd is crossing....RSI is above 50 and pointing down....yes i know, it has crossed up over the 100ema...but what else?

o yea and check the fibo

Well, if all your indicators said to short, then don't ask anyone for their opinion. It's your decision, and your money. Just follow the plan.

You might want to seriously consider n_aftab's advice.

Personally, I don't use a bunch of indicators anymore. Only a couple. It's much less confusing, and I don't have to worry about different indicators giving me different signals.

Check out the Ingot's Rainbow thread. I think you'll find it interesting.

[barrooo]

shorted this pair yesterday at 114.50, just as durable orders came in below expectations.
I know a lot of sites were bullish up to around 116.80/117.20 especially with end of year trades being settled, but it seems sometimes the fundamentals do matter and obviously the bhutto assasination spooked many carry traders.

The problem with a lot of commentators is they jump on the band wagon and quite often by the time they're telling you to go one way, you should be looking the other!

[Jimmy]

Originally Posted by barrooo

....

The problem with a lot of commentators is they jump on the band wagon and quite often by the time they're telling you to go one way, you should be looking the other!

Quoted for truth.