Oriental Trading the Asian Markets
The mission of Oriental Trading Organization is providing Asian market trading information and knowledge for success starting today about trading the Oriental and Asia currency, forex and futures markets.
The Japanese Yen can be a lucrative Asian/Oriental Market for Trading. Each Yen price-tick is valued at $12.50, resulting in a price move from 72.00 to 73.00 equaling a large profit or trading loss of $1,250.00.
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The Japanese Yen futures market is traded at the Chicago Mercantile Exchange (CME) and other international financial exchanges. Open interest is large, and daily trading volume is high. Thus ranking the Yen Contract the #2 foreign currency market behind the German Deutsche Mark.
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The Japanese Yen currency market has a history of excellent long term trends, making the Yen a very good currency futures market to trade, except for one major pitfall! Unfortunately, an all too common occurrence is GAP OPENINGS when doing foreign exchange trading.
Sometimes, depending on overnight fundamental news and news events, or technical issues, the Japanese yen market may open dramatically lower or higher. For example, the yen may close at 72.50 but open at 71.30 the next trading day on the floor of the CME in Chicago. If you were long you would have a large loss of $1,500.00. That would occur even if your stop-loss was much smaller than this because stop-losses offer no protection against gap-openings.
Forex futures is the largest market in the world and trades 24x7. Which currency is trending strong and where is the futures market going? Study financial markets by using the webtrading traders search engine to find out more about trading futures and FX markets.
Still another problem with trading the Japanese Yen successfully is on occasion the market has a powerful move, much greater than normal. For example, there was a day this website editor recalls watching closely with a move of over 450 points, representing potential loss or gain in excess of $5,600.00, based on just one contract during one trading day!
Another trade possibility is placing overnight resting stop-loss orders in the ECN Electronic Market in order to prevent the unexpected large price gaps from going against you. These are very useful trading tools in helping to trade all of the foreign currencies. The best way to protect against the occurrence of a significant intra-day loss is to use comparatively small stop-loss orders during the trading day and ALWAYS have them placed in-the-market (this means no so called mental stops).
The best way to guard against huge gap openings is to not trade on days potential fundamental news is expected, such as Group of Seven Meetings, etc. You can hear about possible important fundamental events by checking with your commodity broker or commodity trading advisor, or by reading the financial news closely, such as The Wall Street Journal.
Still another way is to only trade the Japan Yen providing you have double margin available in your account as a cushion. In other words, if your broker requires $2,500.00, only trade it if you have $5,000.00 available in account margin.
The "best" way to trade the Japanese Yen profitably is using a conservative trading methodology. However, if doing position trades vs international day trading you will need to contend with the ever-present possibility of large over-night losses and price moves against you, and realize an inter-day stop-loss order will not help protect you from over-night gap-openings against you.
You should check with your commodity broker about his recommendations for protection when the primary CME market is closed. It's possible to obtain loss protection via the Chicago Mercantile Exchange Globex Market or the foreign Cash Currencies Markets, or the Forex Market.
However, the FX Forex cash currency markets were originally intended for large traders and will also normally entail higher commission costs and risk of loss too.
Remember, don't use so called mental-stops but actually place a stop-loss order at all times with your futures broker. Inter-day stops should always be in place and be large enough to avoid getting stopped-out needlessly (usually 99 points or less) but still reasonable to avoid huge intra-day losses.
Please keep in mind the foreign currency and fx forex trading market can be volatile and has considerable risk. Studying at a University for Forex & Futures trading can help traders achieve success at profitable trading of foreign currencies and forex market trading.
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