Hi there, I am a newly graduate of pipsology, plus with 5 months of demo background. Ill be using the trading station platform,
Today, at 300 am (est), I invested in USD/JPY (S). I saw that on the H4 chart the stocastics indicates that it will tank, invested at 119.763 I set at stop loss of 1:1 with 200 pips. Lets see how long it gets to either or!
Care to share a chart?
I would love to! as soon as I figure out how to do it… haha, newb…
whoa, looking at my trade, it seems it came up with a crazy reversal, however, it almost seems like it formed a rising wedge, right now the price is at 119.892, lets see what happens when all the players return again after the break.
crazyness!! I almost ended up with -200 pips from the way it was moving up, lukily, after seeing the head and shoulders I sold at 119.40 thinking it will probabbly go up again, still happy with 36 pips, could have been worse!
USD/JPY is almost ready for a short, I entered at 119.545, with a 30:30 pip sl and nl. Things will heat up for the bears in a couple hours I think. Lets see what unfolds!
P.S. I also see a hint of divergence… muahaha
whew rough start, almost got to my sl! things are going down now, hope it stays that way… What I learned, have to be more patient in the entry…
You can use your “PrntScr” (Print Screen) button to capture the image and then paste it into a Paint file (Paint is free with Windows) then save it as a JPEG for insertion into a post using the picture button.
USD/JPY trended higher from the 2011 and 2012 lows around 75.50 to a high of 121.85 on Dec 8th 2014. Today, the upward trend line (indicated in green) is at 106.92. The minor low immediately preceding the major high printed Oct 15 at 105.20 (indicated in red). The 200 day moving average (not pictured) is at 107.12 which is very close to the trend line. The price range of the last three days is 1120 to 1300 pips above the trend line and the 200-day moving average; it is an additional 180 pips higher than the minor low.
If you look closely, you can see that it stayed below the Dec 30 2013 high until Sep 5 2014. You’ll notice that in this period we see a textbook Dow “line”, a period where prices stayed above the previous minor low and below the recent high. Dow and Hamilton believed these to indicate a resumption of trend would follow usually, but sometimes a reversal of trend. After finally breaking above the Dec 30 2013 high, it bounced off of that level to form the new minor low on Oct 15.
It is possible we could be forming another line here. A break above the high line (the green line) would confirm the upward trend resumes. A break below the minor low (the red line) would confirm the upward trend is over. That is a very wide area of indecision and a great place to get your account churned to dust.
I am flat this pair since the 30th and will be trading this pair long only until further developments. I would not short it until either a failed break of the previous high or a break below the 200-day moving average. A new ten day high would get me to go in long again.
Almost would be could be seems like are all phrases one should not use when speculating bro. Best of luck on your journey.
wow, went clearly above my stop loss, as I was observing I tampered with it, to give it some wiggle room, went down again, then readjusted my sl, seems to have made or is making a head and shoulders? lets see what continues…
oh and granted, im not saying that it will totally reverse the upward trend in the long run, Im expecting a 30 pip gain to occur sometime today
Whew, Im thinking its going to go down a little more from what I saw, sold it at 119.51, managed to grab some extra pips by avging with a second entry. Nice head and shoulders if I do say so myself. Lesson, stick to plan, have more patience. If I would have entered by my ‘plan’ and not jumped the gun I would have entered at 119.77, and got more pips! So for order entry 1, got 2.7 pips, with order entry 2 got 22.4. Heres to luck… lol
Oh and btw, thanks for showing how to show charts, that will help out in the future :57:
I’m also short Usd/Jpy - first from 119.13 then f rom 119.52 and finally from 119.7 - - have stop above last high by a couple pips and it will stay there - -as if it is taken out - I am no longer interested in shorts on this pair.
probably will also close all positions prior to the weekend
good luck man! I got out of the short, I feel like I barely made any profit there… I was going to wait a bit for that pair to settle down a bit, its been a bit irradic lately. based on the fib charts and the m15, it almost looks as if it is going to go up again. Im going to be looking for long positions before I re-enter that pair
Dang perch tird, if you kept your placement you would be golden right now! Wish I would have kept my placement… oh well live and learn, im feeling an uptrend brewing for usd/jpy! ill probabbly enter long in a bit…
So I went long at 01:14 est on USD/JPY, at 119.359. Im expecting to gain at least 30 pips. This time I learned my lesson and was more patient in the entry. It gave good results to stick to my plan, let the pips fly!
i am out of all positions now
bummer… today I speculated it would go up, and it did 10 pips for me, but I put my stop loss at 20 pips, and the news cast session blew it out. so -20 pips for me today 
This loss was good though, I found when my m1 was going contrary to the m5, the m1 couldn’t quite break my m5 stochastic, so now im going to modify my plan to fit somewhat of the cowabunga system and ride the waves!
Well I have been demo trading for about 8 months now… time to step up my game! signed up with fxcm with their minimum amount. If I prove profitable ill put in some extra money to escalate things. Hopefully I don’t blow my account! High hopes in racking in the pips! or at least not trying to loose to fast… lol ill be live in 1-3 days, and ill comment on what I like and dislike with fxcm since Ive heard a lot of negatives, but I also like what I researched. So we will see, good luck to me!
Impressive… They already activated my account, maybe they read my post… lol, lets throw out the pip net!
Looks like according to my planning, all the piptunerties have gone by, will try again tommorow 