picked up a nice move from last week on GBPJPY. I know I said I wasn’t trading on those, but the opportunity looked good. And I caught 75 pips when all was said and done. I could have closed out at like 90 pips, and probably should have, but my stop was set. Anyway, it’s a win.
Also got stopped out on EURUSD. There was a giant candle on the 5 min. I was looking for the pullback that came, at just over 10-12 pips. Didn’t pull the trigger and got stopped out. Part of the game.
So now I’m looking at a long EURUSD trade for the week. USD is sitting outside of a channel on the daily I’ve been watching, The euros at the bottom of another channel, so maybe these two will have a chat and put me a good position to make some pips.
And we got some weak US econ data too today, so says TV on my chart. Boom.
I’m trying to be more patient. I love the 5m, but I got in rut with a string of losers. So changed things up a little bit, higher time frame, and so far so good. Doesn’t mean I’m not watching the 5m. Just staying away from the pairs that got me in trouble with the crazy chop that I couldn’t work through.
I hear you. I’m going to continue to keep the daily charts open and I’ll probably always have at least one or two active trades on them at any one time.
When I have one that’s down quite a bit I’m getting better at hedging. So I may have a daily chart trade pair that’s down $100 but it’s been going for a week or two. So during those two weeks I’m cashing in and making money and shorter term trades. Then when that daily chart trade comes around it’s like bonus money.
Can you give an example of the pairs you’d be trading to get this hedge going? Are you saying that if EURUSD was down $100 you trade another EUR or USD pair in the opposite direction, or you mean any other pair is game?
Closed out at 147.050. Almost 40 pips. Man, last week was a pretty good week.
USDJPY win
USDJPY loss
EURUSD win
AUDUSD win
USDJPY loss
EURJPY win
GBPJPY loss
USDCAD loss
EURJPY win
EURJPY win
EURJPY win
I think I was up like 6% last week. 4 losers to start this week, so I’ve come back on some of that profit, but for the month so far, up 180 pips.
Currently in a EURUSD long. Not sure it’s a good idea to be in any trade at the moment given all the central bank news coming out. But that’s why we have SLs right.
So I closed on last month with 291 pips profit. So since January, that’s 4 months with + gains, and 3 months with losses. Man, that’s cool.
The last GBPUSD short turned out pretty good. 20 pips. So far, since last week, more winners than losers and more positive pips than negative pips. So moving in the right direction.
Several wins last week. This week has started different. Mostly because of several trades on the wrong direction on EURUSD. I was thinking more love for the dollar with Friday’s data and the craziness with Israel and Palestine.
So I’m down on EURUSD right now, plus slightly dow/flat on USDJPY.
3 losers, 1 winner. One EURUSD hit for like 9 pips. Net loser of 29 pips. Boo.
After those 4, I had another EURUSD short not go my way, lost 40 pips on that. But then hit two shorts and a USDJPY long and AUDUSD long. So for the last week, I’m down slightly. It sucks because I had more winners than losers but the losers ran a bit bigger. My position sizing was definitely off and not my normal on at least 2 of the losers. I gotta keep that in mind.
