@samewise the only thing worse than waiting 7 hours for loss is waiting more than 7 hours for a loss. I can rack up a hundred pips on a one minute time frame while people are waiting for that long time lost to happen.
Dude, tell me about it. I should have taken my 60 pips and ran! Ha! Learning experience.
And guess what, price is back to my original entry. Love it.
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Man, I went back to the 5m chart on USDJPY, and that 100 pip move this morning AM was in a single candle! What the hell!
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Tried a EURNZD trade. Bad idea. Trade what you’ve been trading. No no no.
Small loss but a good lesson to remember for me. Stick with what you’ve had success trading.
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I think I got lucky here with a USDJPY trade yesterday.
Went long at 133.124. Price broke my trendline at 133.73 and is still going up! Next level is at 134.50. Wow!
100 pip move!
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Okay plenty of consolidation now that I’ve had a chance to look at the chart longer. 5 hours of sideways, I closed it down at 134.16. 104 pips!
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Ok, been watching with the EMA channel cross indicator and got into 3 trades today on EURUSD. 3 winners, for 4 pips, 19 pips and 13 pips.
I’m currently in a EURUSD short. Entered at 1.0647. I think there’s an area of resistance at 1.0636, so maybe I can sneak a couple pips. The pair is looking liking like it wants to move down. It’s down on the daily, 4h and 1h. I’m usually watching on the 5m, 15m and 1h.
There was crazy action between 10 and 12, and now it’s calmed down. I’ve got my stop set and we’ll see where it all goes.
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Well, doing better with adding my stops and even TPs sometime. I am getting more experience seeing how stops can kill a trade because spikes will move just past my SL. What the heck, it’s like “they” can see where everybody puts their stops!
12 trades today. 2 losers. I’ll be honesty and say they’re not all the 5 min scalping strategy that I’ve been trading. It’s a lot of reversals or retracements and even against the trend. I know i know! The trend is your friend.
But man, price bounces off my trendlines and supply and demand zones sometimes to a tee! Not sure if I’m getting better at reading the charts or what. Definitely more trades and watching mainly EURUSD and USDJPY is helping.
But right now I got a short EURUSD trade I entered on the 1h at 1.0589. Actually journaled that in my spreadsheet! What! Umm, I still need to enter the other 11 trades. Might be a lot of work when scalping. But at least I can save an image of my chart in one place.
Anyway, the short trade is up18 pips! So doing good!
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Hey dude,
I’m loving this forum, it’s great for not only beginners, but also people with experience.
Would you happen to have a discord/telegram? I would love to speak with you throughout the day while trading to get different insights and perspectives on the market. We seem to have a very similar trading style and also trade similar pairs. I will be following along here, just made a babypips account just for this forum lol.
Have a nice day and weekend buddy! 
Aw man, nope I don’t use those. But I’m on here most days and you can send a PM too.
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Okay, looking at the 1hr, since the market is quiet on the 5 min scalping strategy, I’m looking at a long on USDJPY.
I’ve got a pending order at 137.32 about 10 pips lower than where we are now, but 10 pips above a recent low that I see. I got my stop at 136.55, a couple pips below a interesting recent low, actually lower, because I’m starting to see those crazy wicks that hit my stop and then push in the direction I was hoping to go. So trying to work the system. Let’s see what happens.
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Wow, just got triggered.
Btw, the daily 4h and 1h are all trending up, so I’m going the right direction. Instead of a market order, I was trying to play it smarter and actually wait this time. So far so good. Let’s see if the rest of this plays out. That PA just came out of nowhere. Well, I guess we’re near the start of a new hour and it’s morning time somewhere else, right.
Working against me though are areas of resistance around 137.51 and 137.71. Beyond that, we’re into 138.64-139.11.
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Ok cool, hit 30 pips about 30 min ago.
I closed the trade at 137.68, right near that area of resistance I mentioned at 137.71. Price went up and then immediately dropped a bit. I locked in my 30 pips.
Thinking I could catch a few pips on the way down, I entered at 137.59, but price shot up 5 pips quick, so I closed for a loss because I was being dumb.
Not following the rules!
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NZDUSD is trying to move. I’ll keep watching on the 1h.
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So I’ve got three trades open.
EURUSD - down 30 pips. I entered at 1.07023 short and I’ll tell you I have the superpower of entering exactly right before the market reverses. And I’m the other way.
USDJPY - entered at 134.203 long, up a couple of pips Price is at the bottom of the current channel. I’m looking for it to start moving up.
EURJPY - entered 144.033 short just now. This is an interesting on. On the daily, looks like we’re going up, sitting in the middle of an uptrend channel. One the 1hr/4hr, price is hanging out around resistance. On the 4hr, 3 candles with small bodies and long wicks on top.
Do we go with the lower time frame trend or higher? I think there’s more room to go down.
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Well, the USDJPY trade blew up in my face. One of those, I literally picked the top to go long. And USDJPY, at its worst, got down to 130.50. Yikes!
My EURJPY trade was massive. Closed at 140.033! That was awesome.
The EURUSD trade, 5 pips. It wasn’t a loser so hey, I’ll take it.
That SL is still getting me. I haven’t got 100% with always setting it. It’s terrible. Bigger losses will teach me I know.
So I’m just in my USDJPY trade. I’ve got a trailing SL. Crossing my fingers we move higher, but the rate decision will probably kill this one. We’ll see.
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So I took a week and some days off trading. Took a couple big losers that shook my confidence in trading. It’s really more about setting my SLs and being ok with a small loss.
I mean it’s smaller than the giant losers I recently experienced, but even knowing that, why is it so hard to set a SL???
anyway, I’m back and started trading yesterday again. Opened a GBPJPY trade after midnight of all times. Close it this morning for +55. And then had a EURUSD trade also from last night closet this morning for almost 30 pips.
So it’s heading in the right direction.
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So 6 trades so far this week.
+60 pips on the winners
-37 pip on the losers (2 of 6)
Net winning, but I need to get my losers smaller. All about that SL!
I’m in two trades right now, long EUR/JPY and long EUR/USD. Still early. Up a combined 5 pips.
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Good question. Why is it?
Ego? Thinking I can outsmart the market? Blind hope? I don’t know.
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