Buy USD/JPY – Traders book 12% profit at 82.77

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Buy USD/JPY – Traders book 12% profit at 82.77

Posted on: March 12th, 2012 at 10:24 am

Technically USD/JPY has given a long term breakout above 78.

Buy USD/JPY at 82.35, target: 85. (Traders book 12% profit at 82.77)

Short term trade.

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43 Responses

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H3M4NG Says:
March 13th, 2012
Posted at: 7:26 am
CB, you are a mind reader ! :)
I was about to put this query to start Forex section when I saw article about FX on NSEGUIDE.
It would be great if u can provide details to novice(like me) like the brokers providing this facility (major ones at least) and one simple example to start with.
Thank you in advance.
CB Says:
March 13th, 2012
Posted at: 7:58 am
Hi H3M4NG, :) thanks. sure, shall add a post on this.
shiva Says:
March 13th, 2012
Posted at: 3:35 pm
CB how much profit would it generate if I buy only 1 lot?? its just 200 rs...plus brokerage...does it mean we need to buy more than one lot?? why do we need to book profits at 82.77 when target is 85?
CB Says:
March 13th, 2012
Posted at: 3:42 pm
Hi shiva, yes, usually buy 2-3 lots as these are slow movers and are safe.
shiva Says:
March 13th, 2012
Posted at: 3:44 pm
I tried practice trade on www.oanda.com/... can i open account here?? looks good interface..but it is EU based website...so how do we pay?
CB Says:
March 13th, 2012
Posted at: 3:45 pm
Hi shiva, yes. all transactions are in dollars. can pay via credit card.
dilip Says:
March 13th, 2012
Posted at: 4:59 pm
Hi CB,
I have 5300 CE @225/-. i need your suggestion whether i should hold or sale.
CB Says:
March 13th, 2012
Posted at: 5:06 pm
Hi dilip, its a hold for now. keep sl at 5400
shiva Says:
March 13th, 2012
Posted at: 6:20 pm
wow can we pay by credit card?? can buy many lots then :P ..how much currency conversion rate applies?
Rakesh Says:
March 13th, 2012
Posted at: 7:36 pm
Hi Shiva, regarding Oanda, pls register urself. and u can get Fx Practice a/c. You can log-in and chat with the customer Care regarding money transfer and other formalities. U need to pay (thru bank/credit card etc), give address proof etc.
I am registerd there but never tried real trading.
Best of Luck :)
shiva Says:
March 13th, 2012
Posted at: 8:40 pm
Hi Rakesh & CB, Thanks Rakesh. Do you know any other account which charges less brokerage and better service?? CB, which broker you use?
cvrprakash Says:
March 14th, 2012
Posted at: 1:41 am
Dear CB,
One thing not clear to me.
Buy price 82.35
You told to book profit @ 82.77
So overall gain of just 0.51% ( This will go in brokerage only in many case)
Then how can you say to book 12% profit?? 12% profit means this should reach 92.23. Right?
Please clarify me.
CB Says:
March 14th, 2012
Posted at: 2:01 am
Hi shiva, not sure of the rate conversion yet. waiting for the statement. as of now m using etoro
Hi cvrprakash, you are buying a usd as the base dollar against the Japan yen. if you buy 1 lot ($40), 1000 units, you gain 12% (12% of $40). you need to invest in 2-3 lots at once to make good profit.
cvrprakash Says:
March 14th, 2012
Posted at: 2:11 am
Dear CB,
Thanks for your explanation.
Seeing my question above and the remaining questions in this section, its very clear that your viewers are completly new to this and need some good basic understanding of this.
It will be really helpful if you can provide any good web site/ book on this to gather basic knowledge. You also can concentrate on providing your valuable suggestions rather than clarifying basic doubts.
Thanks.
CB Says:
March 14th, 2012
Posted at: 8:16 am
Hi cvrprakash, sure, shall update some soon