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.
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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?
Good and bad last week. Caught some nice pips on EURUSD, only to have a couple other trades hit their SLs to basically bring me back to BE.
Sucks. One great trade, 3 losers.
Still watching EURUSD. Put a chart up for the Chart Art challenge here.
Looking at a short for now.
Short order triggered at 1.0721. Stop is at 1.0750. Let’s go!
Stopped out, boo.
I switched gears at the end of last week and traded some USDCAD. Couple of winners.
Currently in a USDJPY long, up 40+ pips. Got in at 146.68.
Moved my stop to a trailing 10 pip SL. Locked in 32 pips. I still think there’s room to go up. We’ll see if the stop ends up becoming too tight.
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.
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So over the last week here’s my trades:
20 trades, 12 losers 8 winners, 359 pips lost 228 pips won.
So a net loss of -130 pips.
Big wins on EURUSD and USDCHF. Big losers on USDJPY.
I’m still up 182 pips for the month
Currently in a GBPUSD short, hoping to add to the position is drop a bit more.
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.
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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.
I’ve got 3 open EURUSD trades, all shorts. And one USDJPY long.
USD is looking like it’s losing steam, but hopefully, that reverses in the next day or two. FOMC and inflation numbers coming up.
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.
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Stopped out on both longs. SL too tight!!
No worries. Caught a decent move down on the same pair to get back some pips. Playing the range right now. Thanks for checking in!
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Yea!
BTW what MT4 version are you running for the desktop? I downloaded Oanda’s. Looks slightly different than yours. You running a broker version, or maybe like the MT’s plain version with your broker hooked to it?