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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Comment pages: 123 Show all

CB Says:
March 12th, 2012
Posted at: 11:33 pm
Hi shiva, yes.
shiva Says:
March 12th, 2012
Posted at: 11:36 pm
how do we read the charts? same as in equity market?
CB Says:
March 13th, 2012
Posted at: 12:34 am
Hi shiva, yes, same as stocks.. but also need to keep a check on all data and rate cuts/ hikes.
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.