Yearly Trend Shift for USDJPY
There is no doubt in my mind that the cause of so much grief and loss by retail account holders comes from having little or no experience in investing let alone trading. And by trying to make decisions on lower time frame charts without proper training.
The ability to delay gratification is essential…and there is no substitite for patience in investing or trading.
A picture is worth a thousand words!
Jay Norris
www.trading-u.com
DISCLAIMER: Forex (off-exchange foreign currency futures and options or FX) trading involves substantial risk of loss and is not suitable for every investor. Risks include the potential that changing political/economic conditions may substantially affect the price/liquidity of a currency. Investors may lose all or more than their original investments.
So your saying its time the buy u/j. Check.
To quote what he’s saying…..again…”there is no substitite for patience in investing or trading.”
Jay didn’t say, “Buy the Dollar Yen”, although I think we get the hint.
In less than the thousand words he was trying to save, I would say that now that
we have a signal that the trend is about to shift, upon confimation that this trend-line break is valid,
a patient approach to entering from the long side is warranted and fairly soon,
perhaps within only the next few days, the market will “speak”.
No doubt, I’m looking to buy this market too ! But after nearly 3 years
and nearly 30 Yen lower, this market still needs to convince a lot of people
that this prolonged downtrend is over and a new uptend has begun.
Don’t forget the USD (versus Yen and just about everything else) has been dropping since..
well…since decades ago, atleast since 1985. Every trading range is part of a
larger trend and every trend is part of an even greater trading range.
Stay patient and stay focused.
Thanks Widget! Exactly!
I was just thinking the other day — after glimpsing CNBC –how many words — both written and spoken –are wasted every day on what people “think” about “this” trading subject and “that” market, and more so in blog world! And 99.9% of it is useless. It’s like the shelves in front of the check-out counter at a convenience store, filled w/ candy bars and junk food and nonesensical magazines…I think “who buys that stuff?” But someone does…
The best lessons in trading are generally too simple for the average person to comprehend.
See you at par in usdjpy!
I will be certainly be watching this pair with keen Interest also. Thank you for keeping us abreast of things here Jay….Wise words said too…