RWFXM - KINGDOM Discussion

robw135 posted:
    I am still in the USDJPY
if you look in the history I was trying to protect the position by hedging but it didn't go much lower so I just got out of the hedge with a loss - sometimes you have to accept those.

R

Yes, no hedge for me. My estimate is that it is pretty darn low, and I will just Martingale out of it if it does a big drop. Thanks for the info.

Gil

I'm so darn tired of this trade already especially since I over traded on this account and I have to look at the consequences of it everyday. About 120 pips range for three weeks - ridiculous.
Its sure going to be one of the best lessons in my journal.

R

robw135 posted:
    

zebra posted:
    

adamvok posted:
    everyone has to experience the pain, at least once :)

Or Twice

Or as many times as it takes to reach your goals

Your Hope and Hold Strategy should be limited to your own funds and not your investors. Consequently, your investors are feeling the pain of your labor. There are many great comments on your system page that can improve your outcome, but for some reason, you block out the advice and let your accounts enter the red again. I mentioned last week to short the Yen pairs+Long $....

Except that if I listened to everyone's advice I would need to be long and short every pair that is out there.
See, everyone has their own opinion and I made a decision a while ago to only listen to my own - served me well so far.
As you call it 'Hope and Hold' strategy is rarely necessary if you look at my history and my average holding times, and I don't need to hope I have full faith in my trades.

I wish I was able to call tops and bottoms as perfectly as some other people in here so I would not need to wait for hours on average. Maybe all the smart traders that post here will one day tell me how to achieve that.

As far as investors go, read my website, I only have one strategy that I trade so if anyone wants me to trade their funds they get traded just like my own money does no exceptions.
Why can't some of you people understand that no one is forcing anyone here to invest with me, whether I become billionaire by myself or with other people along really makes no difference to me (although it may make difference to them).

R

Gill

Well, if you buy somewhere down here I'm sure you're going to make good money except with the pace that UJ is moving lately you may need to exercise your patience and don't mention it out loud as you'll probably get criticized - for some reason most traders do not understand the concept that sometimes trades need to be held for longer then few hours to develop and that there is absolutely nothing wrong with that strategy even if there is a DD during that period.

As far as USD I think its going to get stronger we may be looking at wave 2 forming right now which should lead to another move lower.

R

Interesting... I am buying as usdjpy goes up... We will see... :)

I made a few hundred dollars on the last push up on usdjpy but got greedy again...

Same with usdchf...

The 'putting your investors' into red comment is funny... I guess people expect people to be perfect or they shouldn't trade other people's accounts... I have lost (temporary) millions... I am not perfect, nor ever want to be again... :) haha..

I am still looking for these master traders who make comments, but never have an account to show for them... :) Wonder why that is...

Gil

Well said Rob.
Hope & hold, that is the most traded system I guess 😁

EURUSD going as expected
should weaken the Yen somewhat

Rob,

Enlighten me on why EURUSD dropping will weaken Yen?

Never learned that correlation. And/Or share any others that you have learned.

Gil

USD is getting stronger against EUR which is a major currency therefore USD will be getting stronger against other currencies as well including JPY. But don't take my word for it just look at the charts.

Ok, I see... But it seems to me everyone is focusing on buying JPY (safety) lately. I don't believe we will go much lower, but how much longer till we go much higher is the question for me. I can hold these long's, but I would prefer to do that reasonably quick of course! :)

EURUSD needs a 50% retrace, along with several other currencies...

It has been a big move this week for a lot of currencies. Fun to trade.

Gil

Gill

What safety?
 +200% national debt
Aging population
No natural resources
Stagnation for the last 20 years and no end in sight



Of course I am not talking about the next few hours or days but I think its a Yen bubble right now and we'll see at least 105 within the next 6 months.
I am not a long term trader generally and only got stuck in this position because of my own stupid mistake. However if I was I'd put on a long position and if it goes lower only add to it.
But I do not plan to trade that long of time horizon since I can't stand looking at my gains going on a roller coaster ride and anyway in short term trading I can compound my gains after each trade which I'm sure gives me a better result even with few pips per trade then waiting for a 1000 pip trade.


Bloomberg had Mr. Yen earlier this week trying for few days to use the momentum and push the Yen down even lower, but it didn't do any good.


R

robw135 posted:

But I do not plan to trade that long of time horizon since I can't stand looking at my gains going on a roller coaster ride and anyway in short term trading I can compound my gains after each trade which I'm sure gives me a better result even with few pips per trade then waiting for a 1000 pip trade.



R

I agree. I don't do it either. I usually hold for profit based on, my indicators reversing, 4HR ATR or FIB extension/retracement or just a 'feeling' of uh-oh... :)

I believe it will be long, I don't know if I can get to 105.xxx in my head, but considering we hold some money in YEN, (wife Japanese), then I feel it is time to cash out. :) haha... :) I guess I can just hedge right...

I personally agree with you about Japan, but I have learned so much about their culture that if they truly wanted to achieve something, they are the 'people who can'. The Chinese will be in the same conundrum in a few years, just like we were at a point... Switching from the world's manufacturers to the world's service providers of 'entitled' citizens gets expensive.

Gil

I'm sure Japanese people are very industrious people and eventually will solve their problems just like everyone else will since we have no other choice. Every country is sinking in debt, US is as well but we still have many resources that I am sure are strategically being left untapped/unexplored for until we exhaust the rest of the world....................................

The technology today is so advanced and becoming even more so that pretty soon it will be just like farming where technological advances led to about 1% of the US population in farming being able to support the other 99% so we may soon see 1% in World population in manufacturing making stuff for the other 99%.
This makes me always wonder where will there be jobs for the rest of the people in the next generation. Most service jobs are not very well paid - almost like slavery actually where you barely make to support yourself. Are we going back to those times again but maybe in nicer wrapper.
This is an endless topic to discuss with so many variables that this is probably not the right place for such discussion, sometimes it just boggles my mind when I think about all this, so its just better to concentrate on very short term trading taking it day by day.


R

You and I think alike! :)

That is why I trade short term as well. :) Working day by day, ending in a better place and try to help as many people as possible along the way! :) We do live in a fantastic time though....

bluemele posted:
   We do live in a fantastic time though....

Very true, the last hundred years have seen more progress then all the recorded history before that put together, at this rate the next hundred years will be beyond imagination and I expect to see at least half of it.

However,with 9 billion people by 2030 we'll need some socio-economic paradigm shift soon.

R

Usually when such a huge 'shift' occurs, there will come many challenges with it. Of course that spells opportunity right.. :)

At the end of the day, Money means nothing if quality of life goes down. The key is to have both... :) at least for me..

Gil

R.I.P. RWFXM - KINGDOM....

I have a screenshot of its death, cause I figured he'd delete the page :)