nanningbob wrote:
March April and May I had a field day and it has been grind out the pips since. This is the part of trading newbies have to just understand. There are times you have to just take your time and grind out the small gainers until the big ones come again. We have had some gbp, aud, and nzd moves the last month. We will see what happens next.
Yes indeed. Mostly sitting on my hands wondering what next as everything is moving sideways at the moment. Lots of pairs at significant S/R - they have to go up or down eventually
nanningbob wrote:JPY bond buying usually ends about this part of the month so JPY strengthening should not be a surprise. There still could be some push up but I dont expect it at all to break any new highs.
high bob,
Where to find the bond buying news for each different country?
nanningbob wrote:JPY bond buying usually ends about this part of the month so JPY strengthening should not be a surprise.
well it was fun while it lasted
i can just recall how it was like in march.
although market moves now have been blunted - my skills are alot sharper now than then.
March April and May I had a field day and it has been grind out the pips since. This is the part of trading newbies have to just understand. There are times you have to just take your time and grind out the small gainers until the big ones come again. We have had some gbp, aud, and nzd moves the last month. We will see what happens next.
nanningbob wrote:JPY bond buying usually ends about this part of the month so JPY strengthening should not be a surprise. There still could be some push up but I dont expect it at all to break any new highs.
high bob,
Where to find the bond buying news for each different country?
Have no idea, the two making the news this year is the USA QE3 and the Japan one. The others havent made the news yet. The ones that could are Portugal and Greece and Cyprus. If they arent in the news then they wont affect the market.
well yen flush as expected but took until US data got out of the way.(notice this? there needs to be some event related to the pair.)
my style isn't pure 10.4/5/6 at all and it can make one an intraday junkie trying to imagine something that is there.
but just by looking at where the US opens each day you can piece the real picture.
this week's tuesday wednesday US sessions basically put in place 2 opens that are very close on USDJPY 100.375 and 100.275 then crossed wednesday's DailyPivot, came back tested couldn't cross and then proceeded down.
price today got back into where last thursday,friday where they had built an inverted H&S.
i also look at how the Nikkei is doing on FXCM's Empty4 through their CFD offering to confirm.
does this mean end of the world next week. no but it helps put pips on the table for me today.
i don't pine on the news either other than mentally noting what pair-news is in play and at what time. so i can manage my expectation of volatility as well as efficiently use my time and attention by homing in on the pairs in play at the current session i'm trading.
i benefited a lot from Bob by his appreciation of the larger picture, his way of using weekly and daily pivots for bias...that guess what...the market uses too.
The best trades are those that are highlighted by the larger time frame and then triggered on a lower time frame.
Bob has definitely made this year my best ever ever trading year ever.
(my blowups n my dysfunctions are all resultant of flaws found in myself as a person emotionally and mentally:which i have also begun to deal n work with through trading psychological books from Dr Van Tharp(Trading in the Matrix*, super trader). Jason Williams new book the mental edge in trading is good too as it feels more personalised once you've done your NEO-PR/AC test.)
The foundational groundwork Bob laid by 10.4 and the xx.00 lines in 10.6 really invaluable if you are to go to the next level as a FX trader.
and if you have that groundwork down pat. then don't abandon it. i did drift from it by tweaking too much but found my gains greatly stunted(can't double, can't break even like regressed).
so having it as core consideration is key for me.
