10.3 SCALPER/RANGE TRADE SYSTEM

[nanningbob]

Just got stopped out on GBP/CAD, another 8 pip loss. It seems that the stoploss is too tight.

Too early to trade, JPY session is basically done and Euro hasnt opened yet. price is just going to bounce back and forth and not go any where. I will be trying that trade in about an hour.

[nanningbob]

I am posting this other WSJ article in full text in case someone cannot access this (free) article...

http://online.wsj.com/article/SB1000142 ... lenews_wsj
for charts and comments.

Below reminds me of the Brit movie, The Full Monty

THE SWISS DISEASE, CURRENCY WARS and 2013.

If it works great, however if the cork ever pops, ...........................

[hilavoku]

Yepp. I saw the side steps too. So i will also take a look in an hour. Could you post your decision then Bob?

thx
Guido

[KevinT]

Why long term selling of JPY is going to happen. Dont get caught buying the YEN, be busy buying aud, cad, chf, gbp, eur, usd, nzd crosses at appropriate spots. Doesnt mean there wont be some periods where the JPY wont rise it is just stronger the JPY will go down. Note this sentence:

In terms of debt capacity, the net assets of Japanese households reach 1,156 trillion yen, while the national debt is 1,133 trillion yen. The difference is around 23 trillion yen.

People are concerned about the US debt problem. However, Japan's debt issue is not optimistic either. Current American debt-to-GDP ratio is about 102 percent, but the same ratio for Japan is 228 percent. If we call US debt a problem, Japanese debt is indeed a much bigger nightmare. Financial markets are not stupid, the trick is that majority of US debt is in overseas hands because US dollar-denominated assets have a special position as reserve assets. Though Japan's debt-to-GDP ratio is double that of the US, the international impact of Japan's debt problem was not under the spotlight as Japanese national debt is traditionally held by Japanese investors. Yet, as mentioned above, things are changing. With a greater amount of Japan's debt in international hands, Japan's debt problem will become an international issue sooner or later.
Another point worth mentioning is that under the new administration of Prime Minister Shinzo Abe, the Bank of Japan will start another round of assets buyback with a target of 10 trillion yen. This means the Japanese government will inject more liquidity into the market, making a new QE round. When the Bank of Japan goes for another round of QE, it will buy more bonds. With a buyer on hand, the Japanese government can issue more bonds with low interest rates. The excess liquidity will push interest rates lower and financial markets worldwide will definitely be affected.
In terms of debt capacity, the net assets of Japanese households reach 1,156 trillion yen, while the national debt is 1,133 trillion yen. The difference is around 23 trillion yen. The increase in assets buyback already hits 10 trillion yen, which means there is not much domestic capacity left for absorbing any newly-issued debt. In other words, if the Japanese government continues with its current economic policies and has no way out in economic development, it has to go to foreign lenders for funds. Worst still, it is doubtful if the Japanese government can issue debt at such interest rates. With the worsening debt-to-GDP ratio and an unreasonable debt level, new lenders are likely to ask for a fair risk premium for the lending.

FXTMpreviewJanMar2013.pdf

Free registration for whole article access: http://www.fxtradermagazine.com/register_en.php

[nanningbob]

I am looking at aud/cad, aud/chf, aud/usd, eur/usd, eur/cad, gbp/cad, gbp/aud. maybe usd/chf if it retraces some more.

[trjfx]

here are my trades so far all still open

[gms]

Yes did that, still do not know why they are different. I have to look at the charts, to make all my trades instead of using the panel, I guess I am the only one with this problem.

No you are not. The pivot/DO order is wrong on the panel, therefore the colors are different.
Use the readings on the charts. Then you'll be fine.

gary

[SteveHopwood]

I had need to consult Paul about the indi yesterday. Some of the code is wrong and he will be coming out with a fix for both this and the non-updating thingy.

In the meantime, the attached displays the correct values.

[FxFoil]

.

[Baluda]

Here are new versions of DWMP for 10.3, v1.0.8 and MultiTenPointThree, v1.1.1.

DWMP shiftDayChange-false.png

DWMP shiftDayChange-true.png

Changes:

• Introduced hour shift for daily pivot and daily open
• User setting 'shiftDayChange' switches between normal day change (false) and user selected day change (true, default).
• User setting 'hoursFromGMT' is the number of hours day change is to be shifted. (Default is GMT+2.)

These indicators now are able to shift the daily pivot and daily open to any hour. Default setting for the day change is GMT+2 (or NY Close for the time challenged folks).

I consider this option to be experimental, use it with care.

Both indicators now show the sames values for all pivots.

May the pips be with you.

Paul