USDJPY is moving up. Big push towards 158? Hopefully yesterday’s high turn to support and we keep moving up.
3 losers, 2 winners.
Had a nice 50 pip winner on GBPJPY but not enough size. And a 25 winner on a USDJPY long.
But the losers got me again. Average size is too big. This is where a fixed stop would help minimize the loss, but I think that wouldn’t give me enough breathing room.
Back to the drawing board.
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Last 7 days, 4 winners, 6 losers.
Winners of 26 pips, 44 pips, 28pips and 10 pips. 108 pips won.
Losers of 30 pips, 26 pips, 21 pips 15 pips, 22 pips and 35 pips. 149 pips lost.
Average win 27 pips
Average loss 24.80 pips
4 loser trades were actually profitable before turning around for losers, anywhere from 7 to 35 pips.
I’m thinking my stops are too tight. I’m using market structure, but looks like I need to go farther maybe to the next swing high/low.
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Ha, two trades today. 1 winner, 1 loser. Net 1.2 pips profit! Ha!
30.2 pip winner, 29 pip loser.
Still trading on USDJPY and GBPJPY. Forever and always. Might need to venture out to some pairs maybe.
Also investigating a ton of different indicators. I have 3 different tabs on TV set up with different combos. Still trying to figure out the best mix.
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I’ve reached a milestone. Finally out of my USDJPY trade that I was “stuck” in because like an idiot in opened a long right at the top the day BOJ/MOF decided on some intervention.
I took some profits on the way back up, plenty of losses on the way down but now I’m out completely. It took a giant 5m candle this morning to end the misery. But I already feel better. Clean slate.
Down 1.5% last week.
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Okay, last week up 3%. 7 trades, all winners,148 pips. Great week. Traded mainly GBP pairs.
If only all weeks can be that good! I can’t put my finger on what exactly when so great. Maybe sticking to the plan, not jumping in emotionally. I also found a couple indicators on volume (buyers v sellers) and started using MACD too.
So overall really good.
So far this week, two small losers. I think with the holiday, maybe I’ll just sit out this week. We’ll see.
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Not a great week last week at all. String of 5 losers that I held way too long. Got distracted and wide SLs got hit. Which means analysis was off. 1 trade was completely emotional. Yup it still happens. Turned into a loser that I didn’t want to grow too big.
Last week is a week that flips you up side down and makes you want to scream!
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I caught a huge move on USDJPY for once. I got in on the “intervention” and bagged 191 pips. Entered short at 160.09 and exited at 158.18. Huge win,
Might be time to get in on additional JPY shorts. What do you guys think?
Anyway, last 2 weeks, 50% win rate over 12 trades, but up 8%! All wins came on either USDJPY or EURJPY. The one USDJPY short obviously helped bigly on the overall account gains.
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Oh man, JPY is jumping. All the yen trades I was nursing are in profit. And Asia session hasn’t even started, so I wonder what yen will do once that side of the planet wakes up soon. Exciting!
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So that was an interesting couple hours.
8 trades. 6 winners, 2 losers. 193 pips. All trading either USDJPY or GBPJPY. whew!
Had some trades already running before the “leak” that BOJ was thinking about raising rates. Added a couple limit orders just in case. Two got triggered and hit small TPs. Two loses hit SLs. I made them smaller because who knows what the market will do right now.
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Man, last week Sunday to Saturday. Might be one of my best. Check these stats.
36 trades
2/3 shorts won.
28/33 shorts won.
basically all on USDJPY and GBPJPY.
One AUDNZD long win
One EURUSD long lost.
773 pips
average trade length 13h 12 min
Profit Factor 4
Average win 30.98 pips
Average loss -26.08 pips
Looking back I definitely got lucky with some JPY trades I was in. I’ve been watching USDJPY an GBPJPY for months. I was stuck in a couple GBPJPY shorts for the longest and they now came around.
I’m stilling being way too emotional when I’ve got a loser running. I tried to get pips back by opening another smaller position on my way back to my original entry, but 9 times out of 10, that “method”, no not a method, just being plain dumb, punched me in the face.
Biggest thing helping me last week? Three things, trading earlier in the US day, sticking intraday, not holding overnight, and using MACD and ICT concepts. Well, on the ICT concepts, I don’t know if it’s his stuff or repackaged stuff, but I’m looking for market structure shifts (MSS) and breaks of structure (BOS), and trading pullbacks into continuation of the original trade. I still have my cross over EMA strategy as the basis and I’m always trying to add a new piece in. I’m flirting with Keltner channels and Ichimoku theories.
If I do step away from the screen I make sure to set my TPs. If the market is moving really fast, I don’t walk away.
I had a trade drop like 30 pips on me as I was going to set an entry. I looked away while entering my details. Hit buy, and wham, giant candle the opposite direction.
This week so far, I’ve had a couple big losers. Not great like last week, but like I said, working on the emotions of losers, and not adding to the problem.
This past week was a little bit on the opposite end of where I was 2 weeks ago. This past week was pretty flat trade wise. Down 3%.
12 trades.
7 of 12 won.
Two big mistakes this past week.
- FOMO trading into a GBPJPY short.
- Not adding a stop to the trade knowing how far we had just dropped. I should have expected some recovery.
- Not taking a smaller loss, that seemed big at the time.
Let’s GO, Samewise!
Kick the market and take its wallet while its down! 
Btw, those JPY pairs are still uncomfortable for me.
On D1 the candles are still at the bottom of my channel, but the MAs are still showing down trend continues.
I’m waiting for those MAs to cross!
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Super bummed. Fat fingered a long trade entry on a pair (GBPJPY) that I already had an open short on. So basically I closed my short, which was at a loss right at that time.
I was on a small run of scalp winners and just got caught up in watching charts and opening trades pretty quickly.
Thought I was on another pair, and then kaboom, wrong pair!
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Last week 9 trades.
6 winners, 3 losers.
Couple of big losers outweighed the winners.
Mistakes:
- fat fingered a long entry on a pair with an open short order
- no sticking the strategy rules!
- SLs got triggered on two occasions within LESS THAN 1 PIP. Can’t believe it. It happened on back to back trades. So even wider stops maybe, but I’m just not a fan.
- Took one trade overnight, with an SL, and that trade got hit. Didn’t stick to my intraday rule.
Positives:
- Added more size on profitable trades
- Closed trades before TPs to lock in profits rather than sitting and waiting for reversals to turn around and go in my favor. From my review, this worked in my favor for the most part. I didn’t leave too much on the table.
- with the increase in size/units, I decreased my TPs just a little
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Last week, Sunday to Saturday, only 4 trades. 3 wins 1 lose.
+44 pips.
I’ll take it!
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Last week, 14 trades. 8 of 12 longs won. 2 shorts lost.
+65 pips (+193.4/-128.2). Ran some other stats that I couldn’t actually find in Myfxbook.
+2.7% for the week.
Not turning me into a millionaire, but a green number is a green number. And if I maintain that every week for a year, that’s 300% for the year. Cool!
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Last week, 29 trades. 8 of 15 longs won. 10 of 14 shorts won.
-133 pips. The negative pips is misleading. I partial closed out of a losing position, just slightly out of the larger position and I guess I realized a large pip loss. But on a percentage basis it was a -0.62% loss for that single trade. Big in terms of pips -300, but small when you look at the net profit. I had a trade loss 14 pips, but because of the position size, the net profit was about the same -0.65%.
So that goes to show, you have to look at the details. I was down pips-wise, but overall had a positive net profit.
As usual, most of the gains were on JPY pairs.
On the whole, the week was up 9.88%. Crazy week!
Right now, I got two trades open, USDJPY long, I know I know. And a small EURJPY long. As usual, my super power of entering the wrong direction right at a top of a move strikes again. Oh well, it’s all a learning experience.
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Last week, 27 trades. 9 of 15 longs won. 6 of 12 shorts won.
+102 pips, 2.85% gain.
Huge 152 pips won on my GBPJPY longs and shorts. 100% win rate across 6 trades
EURJPY not so nice. Got taken away from the screens and ended up net down 67 pips on my longs, so that hurt.
Mostly JPY trades again. I go where the volatility is!
Some observations. Holding trades for hours tends to hurt more than help.
I still lacked patience this past week and FOMOed into a couple trades. It’s a hard habit to break!
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Last week, 39 trades. 14 of 26 longs won. 9 of 13 shorts won.
I got screwed on a position I had to scale out of. It eventually turned profitable, but you don’t know what while it’s going the other way.
That would have put me at 66.6% win rate.
All the rate cut activity has been great for volatility. But still have a lot to learn on how the market reacts to certain economic data. I was completely off on how the market reacted to the US rate cut. I need to remember to stay away. Close positions or have stops ready.
So negative pips for the week, but still managed to be up 1% for the week. Up or flat is progress!
Focusing this week on learning more about market structure, liquidity and price action.
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