A Noobs Journal - time to give this a shot

Trading Discussion Trade Journals
61

I don’t like that going 1:1RR causes losing trades even though they are usually in profit at some point. I want the profit, even if its less than a 1 to 1. So on a buy trade, if I get a direction change signal, I’m out.

When I’m placing pending orders in both directions the larger SL gives price the breathing room so either the SL is not hit and the trade had the best chance of winning, or it gets hit but I recover some or all the loss on the opposite pending order.

I’ve started placing multiple pending orders in both directions on the same currency pairs too. Spreading them out so I can catch big movements.

So far, so good.

I look forward to semi-retirement in a couple of years so I can keep an eye on the charts and let the winning trades run longer. It is hard seeing all the money I leave on the table by setting my smaller profit targets.

62

I’m wishing you much success!

I’ve enjoyed reading many of your posts in the forums.

1 Like
63

I was up, turned my head for a minute (exaggeration), and the market dumped on me! 100+ pips gone, SL hit on USDJPY.

That one hurt.

64

Opened a USDJPY trade per rules above at 136.77.

ATR was at .26 so I set my SL to 136.25 or 2 X ATR. Guess where price went while I slept?

Stopped out as price hit 136.16.

Boo!

65

Time to bet against USDJPY?

On the daily, a couple of rejections moving towards resistance at 139.39 On the 4h is looks like the bears are winning.

Also, USD pairs in the red. JPY denominated in the red. Could it be that simple?

EUR pairs in the green.

Hmmm lets go short on this baby.

Short 138.59
SL at 139.40
TP at 137.70

So SL is above the record high which, man, I’ll be surprised if we break.

66

Man, USDJPY has been taking more than giving back.

Went down 50 pips on a short trade which was great, but then price exploded up into my SL. Got blown away. Went against the trend, so that’s my fault.

67

Per my strategy rules,

USDCHF looks prime.

So, long at 9610.

SL at 9482

Actually, I’ll have to wait a bit. The MAs aren’t where they need to be. But I’ll watch this pair and maybe set a limit order to catch a move up.

68

Ummm, the markets have been crazy the last couple of trading days. US inflation is out later in the week. And everything not USD is falling.

EURUSD looks interesting, as it’s at RSI lows but man that’s still a of red the last week. I’ll keep watching, but maybe it’s time to long EURUSD. Any takers?

69

Been watching GBPUSD today since it just went crazy the last week and before. No trade though. Looking into some order flow indicator as well.

70

Okay, watching EURUSD for a break of trend. Price on the daily is getting close to the top of my channel, but I’m watching the 4hr and 8hr too.

Weekly is down. Daily showing the move up is slowing down. Next day or two should have some action. I’ll be watching! Maybe a small move down and then a pop up.

1 Like
71

No trade but jotting down GBPUSD notes as I was chatting about it elsewhere.

Price is currently at 1.1455. Long term trend is down. I watching to see what price will do on the 1hr, 4hr and daily as I’ve marked up some fib retracement, BB and some interesting areas where price could go.

I want to see if my analysis holds up. I’m expecting to break the upper trend line on the 1hr and then a move down.

Zone1 1.1423-1.1401
Zone2 1.1287 to 1.1237

Price could hang around the upper band for a while., and it could even break back up above.

Haven’t even looked at the other direction, but quick eye ball shows 1.1738 as the next high.

Let’s watch that 1 hr on London open.

72

Well, had the right idea as far as the triangles on the 1 hour are concerned. Price broke out up, at UK market open. So all the bearish signals I found weren’t right.

So now on the daily/weekly trend, price is moving up to the upper level of the bearish channel/trend line.
Price also broke the 2 week high.
Big fat green candle, tiny wicks

I’ll be watching.

73

Been away sick. I’m back!

Looking at selling USDCHF at .9860. Price hit resistance at .9917 and came down. It broke a diagnal up trendline.

Looking for price to move down towards .9740.

Read up on some news too, not looking great for USD net longs. MM on the weekly has USDCHF as the weakest USD pair of the bunch.

Let’s go!

74

whoa. USDCHF down to .9668.

Must be the CPI release. Man, the news is hard to trade, but I was in the right trade at the right time.

Almost 200 pips! Closed!

75

Nice job!!!

1 Like
76

Part luck for sure. Had the trade open already and the news just went my way.

77

I had a trade open too, Monday, I think. But the spread widened up so much when the news dropped I only made $14. I hate the news!

78

It’s so tough to trade. I got lucky!

1 Like
79

Hey hey, took a break from trading over the holidays. I’m back!

Looking at a USDJPY short trade.

The dollar is done! Right?

Entered at market, 135.36. Look at a drop to 133 area. Let’s see how we go! A bit of a way to go. I’ll go with a bigger stop than normal.

Stop at 137.65

Let’s go!

Let’s hope dailyfx analysis is on point.

1 Like
80

Wow, lots of movement here on USDJPY. Price dropped as hoped all the way down to 133.622! Of course my TP was set lower at 132.747. Price shot back up to 136, before coming BACK down to 134.58 where it’s sitting right now.

I’m in profit, but could have been probably double with a tighter TP. The move back up happened at my 4 AM, and then a giant candle at 8:30 AM. In 30 min the candle shot from 134.08 up 200 pips!

That’s what I call action!