Forgot to mention that 86 is a nice round number and a psychological number and an area of resistance all the way back to July of last year.
Right.
If you keep track of your personal statistics, it will be much easier for you.
Just be careful and choose what you understand perfectly.
Things like this are very disciplined and helpful. So you are doing everything right, the main thing is to stay as motivated and disciplined so that you keep it up and understand what you are doing it all for now.
Are you keeping a journal yourself?
Thanks for reading. Are you trading too?
Haven’t been able to do my analysis as much today as I liked, but forex.com is always posting something with some nuggets.
So maybe I’ll just watch EURUSD. We should have some volatility tomorrow by 9 AM after the Fed and ECB speeches. Could be interesting to watch the chart real-time while the speech is on going. Haven’t tried that.
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Are you able/willing to share stats of your account size and $ amounts for wins and losses? Just curious!
Sure, I’ll have to drop it in a spreadsheet. Took a hit last week on EURGBP trade. Moved 25 pips up, but then came crashing down and hit my stop. 2 wins, 2 losses, but still up a couple bucks.
Awesome would love to see! Also, now that you mention it, perhaps I should do the same for mine! Right now I just write it at the end of my trading journal entries. 
I just have my broker trade history screen. Boo.
Haven’t posted to my journal in a bit. Looking for a trade.
Is it crazy to trade EURUSD this week? Stay away from the news they say. CPI coming out this week, and some info from Germany on their economy. I don’t think it’s looking all that great with the oil and gas issues.
And US seems to be feeling some relief. Perhaps watch tomorrow?
Plus, we’re at historic lows right now. Can the bears push it lower?
Well, I took a short trade on EURUSD last night.
Thinking back, it was a straight gamble really. Shorted at 1.0027. Minimum order size I could get out with my account size. And I’m watching the EURUSD chart on the 15m and it’s all over the place! I don’t trade the 15m, but it’s crazy to see how much it’s moving up and down.
US inflation came out at 9.1%. 40 year high. That’s not good, but inflation is up everywhere, so Europe will face this issue too And when you’re betting USD or EUR, you put your money on USD right?
Let’s see where this trade goes. Can’t below EURUSD is floating around 1.00.
Should have set a TP on that trade. Possibly could have bagged 75 pips. Instead I lost…23 pips. Pulled my stop in too tight after I was in profit.
What I learned - EURUSD hitting parity was a historic event, and expecting EURUSD to fall further that it did, to the 2002 lows was… too ambitious. Maybe too much fundamentals at work.
Anybody trading AUDJPY? Maybe I should ask outside of the journal.
Anyway, weekly trend up. Daily trend up. Seeing higher high and higher low. Hoping to break a recent high of 96.81. Price broke out of a channel 6 days ago, so maybe I’m late, but let’s see what happens. 6 days of green candles. Entered at 95.30. Got my TP and SL set. Let’s go!
Charts look good. I’d say we’re looking more risk on, but JPY has been completely backwards with the stock sell off, so who knows. Wednesday often has a retracement after big moves, so you might have jumped a bit early. Time will tell
Who’s trading GBPJPY. I think I’m going to stick with crosses and see if they do me any good.GBPJPY and AUDJPY both look promising for a long.
Maybe moving into some semi historic highs.
Looking to long at market. So 165.05. TP at 168. Stop if 1.5 X ATR of 1.735
Let’s give it a shot!
Bust, what can I say. Big ole fat loser that last trade. Got to about 166.30 and then did an about face straight down to my SL. Tight TP would have got me somewhere. But I wasn’t watching the trade as closely as I should have been. Specially not moving the SL up as price moved up. Big mistake!
Posted in the wrong thread!
Need some structure in my life, so I’m giving Tommor’s simple strategy a go. Here are the details.
- Uptrend - price is above 20EMA, which is above 50EMA and both EMA’s are recently sloping upwards
- Pull-back - price makes 3 consecutive bars with lower highs and lower lows
- Trigger - price breaks out upwards through (or closes above) the high of the 3rd lower range bar
- Stop-loss - set this at entry price minus 2 x ATR(14)
- Take profit - set this above the entry to at least equal to the stop-loss distance
I’ve found that USDJPY fits the bill right now. So I’m opening a trade at 133.76. ATR is showing 1.475 on the daily. So SL is at 130.81. I’ll try to check this in the morning when I wake up. And I’ll see what other trades can be found on this.
USD JPY trade update.
Still in it and up! Currently trading at 134.95. I got in at 133.76. Woohoo!
Still trying to figure out what to do with my stop. I guess I could move it 2 x ATR from it’s currently price., which would be 133.88. Not too far from where I started. Thing is, ATR changing between today and when I opened 6d ago.
Man, about 30 min late in checking my USDJOY trade. CPI news came out, but looks like the markets started moving before!
USDJPY down almost to 132.75!
Closed the trade for a loss and took the opposite position.
Back in the green on this one. Recovered to above 133.
And CPI came in better than expected so good news for USD.
I’ll keep watching.