Japan Govt, BOJ Buys Yen

31
Ogee wrote: Sat Oct 22, 2022 3:30 am Breaking Market News ⚡️ @financialjuice
14m
JAPAN INTERVENES IN THE FX MARKET TO SUPPORT THE YEN - NIKKEI.
Yep they sure did but it never works. RIP Yen.

Going to scalp longs on USDJPY next week I'm done trading for the day.

PS: We can all guess where this guy is going after the dust settles ↗️
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Market manipulation to your benefit :-)

33
boytoy wrote: Sat Oct 22, 2022 3:54 am Umm ok. Why do they do this intervening crap? What gives them the right to just manipulate the fx market unannounced like that? 🙄
Hi boytoy,

They can intervene because it's their national currency and YES the market is manipulated. But, do you honestly think this "action" was unplanned? :think:

However, DO NOT try and fight the system, or form an opinion of where you wish or want the market to move. Let the Market Makers show their hands (because eventually, they have to) and then you go with them rather than fight against them!

The Remora fish NEVER fights the shark but travels along with it and benefits ;)

Every pair will pay you handsomely if you embrace the Holy Grail of...PATIENCE!
Just one of the many JPY pairs that paid out handsomely today! Just one of the many JPY pairs that paid out handsomely today!


Warmest regards,
BeatlemaniaSA

RINSE AND REPEAT... :D
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Re: JPY news

34
Ogee wrote: Sat Oct 22, 2022 3:30 am Breaking Market News ⚡️ @financialjuice
14m
JAPAN INTERVENES IN THE FX MARKET TO SUPPORT THE YEN - NIKKEI.


https://www.nikkei.com/article/DGXZQOUA ... 2A9000000/
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Be patient therefore, brethren, until the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth: patiently bearing till he receive the early and latter rain.
Behold, we account them blessed who have endured. You have heard of the patience of Job, and you have seen the end of the Lord, that the Lord is merciful and compassionate.

Re: Market manipulation to your benefit :-)

35
BeatlemaniaSA wrote: Sat Oct 22, 2022 6:15 am Hi boytoy,

They can intervene because it's their national currency and YES the market is manipulated. But, do you honestly think this "action" was unplanned? :think:

However, DO NOT try and fight the system, or form an opinion of where you wish or want the market to move. Let the Market Makers show their hands (because eventually, they have to) and then you go with them rather than fight against them!

The Remora fish NEVER fights the shark but travels along with it and benefits ;)

Every pair will pay you handsomely if you embrace the Holy Grail of...PATIENCE!

USDJPY #1.png

Warmest regards,
BeatlemaniaSA

RINSE AND REPEAT... :D

CHFJPY #1.png

At a Daily P/L of 170%, you would have more than doubled your account and almost tripled it with this one trade.


Am I understanding it correctly? Or am I missing something with XARD's profit-tracking indicator? :think:
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Re: Japan Govt, BOJ Buys Yen

36
I got the hell out of dodge before that shit started. Waited for the trusty iTrend to signal, scalped two 30 pip trades then fucked off!
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Re: Japan Govt, BOJ Buys Yen

37
boytoy wrote: Sat Oct 22, 2022 3:54 am Umm ok. Why do they do this intervening crap? What gives them the right to just manipulate the fx market unannounced like that? 🙄
Central banks do intervene probably more often than most realise and it can work to change the tide if it's done covertly and is affective quickly but doomed to fail once the cat's out of the bag. remember the BoE and Soros or the SNB and the EURCHF.

I'll retell the SNB story because it was a wonderful education.

Late 2014- early 2015 the SNB was trying to peg the CHF at a set Euro price, the CHF was getting too strong. But traders found that if they bought any dip the price quickly went back up to the peg level thanks to the SNB.

Some said it was easy money, others said don't mess with CBs. Then one morning I saw on twitter someone said 'the pegs gone', going to the chart it was stunning, eurchf was in freefall. It was like watching Homer Simpson falling down a mountain. Plummet several hundred points then hit a ledge, stumble around dazed for a few minutes then plummet again, on and on it went. Time seemed to stand still and I don't know how long it lasted but I guess about 20 minutes before settling down at minus 2000 points.

Twitter was hysterical, ''I can't get out, I CAN'T GET OUT!!!!'', the 'easy money' crowd were trapped in their longs, price had jumped over their stops and they were smashing the sell key trying to get out while everyone else was smashing the sell key trying to get in. It was pandemonium.

Market orders are useless in those circumstances, orders are processed on a 'first come, first served' basis, the price is long gone by the time you get to the front of the queue. The only hope is a pending order set lower down.

Anyway, when the dust settled many retail traders were minus €25,000 on their account and couldn't pay. FXCM staggered on for a year having taken out a ruinous loan to stay afloat but sold up in the end, I think IG wrote off £6 million and many small brokers went bust.

That drama caused the regulator to slash leverage for retail traders in the EU, introduce negative balance protection and increase the amount you needed in your bank to open an account with a broker.

The SNB had to give up the peg sometime, I remember in late 2014 seeing a SNB statement showing they had spent 18 Billion CHF buying Euros to maintain the peg, in just one day, and they had kept the peg going for months.

Crazy times.
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Re: Japan Govt, BOJ Buys Yen

38
Ogee wrote: Sat Oct 22, 2022 8:16 pm I'll retell the SNB story because it was a wonderful education.
Haha dude I was actually one of those people who was long that day. I still owe the broker Alpari 11k who went bankrupt 😂
My little story about it is here

QUESTION: How do you guys know exactly when the Japanese/BOJ are about going to intervene?

I saw nothing on it no damn warnings or headsup on Twitter etc etc?

Re: Japan Govt, BOJ Buys Yen

39
boytoy wrote: Sun Oct 23, 2022 2:43 am Haha dude I was actually one of those people who was long that day. I still owe the broker Alpari 11k who went bankrupt 😂
My little story about it is here

QUESTION: How do you guys know exactly when the Japanese/BOJ are about going to intervene?

I saw nothing on it no damn warnings or headsup on Twitter etc etc?
It's not in their interest for anyone to know when they are intervening and they try to be covert but if they need to keep doing it again and again and with larger and larger amounts then their footprint becomes more and more obvious.

Re: Japan Govt, BOJ Buys Yen

40
boytoy wrote: Sun Oct 23, 2022 2:43 am Haha dude I was actually one of those people who was long that day. I still owe the broker Alpari 11k who went bankrupt 😂
My little story about it is here

QUESTION: How do you guys know exactly when the Japanese/BOJ are about going to intervene?

I saw nothing on it no damn warnings or headsup on Twitter etc etc?
They won't tell you. It's designed to fuck traders up for shorting JPY (going long on USDJPY).
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