Friends,
Here my 12th trade.
This time I am going Long with CAD/JPY
See.
I believe that the the pair is testing rising channel bottom once again. Stochastic is also oversold.
Trade Details: Entry: 79.89, SL: 79.49, TP: 80.89, Risk: 3%, RR: 1:2.5
SL will be moved to BE, once the trade is up by 40 pips.
Let us believe things better…
BIJOY
just an update: EURUSD is up 30pips, AUDUSD is up 20pips or so, GBPUSD up 20pips(entry 1.600), NZDJPY(@64.63), oil(entry @90) and gold(@1720) are also doing fine. Thinking go long S&P500 if it holds above 1420. i think i might post my own journal soon :0) ty Bijoymj ty everyone ty ty )))
ty Bijoymj i did use stoch for a while but i cant help but hate any indicator that contains some complex math that i cant understand, thats why 50sma is the only indicator i use. I will try and get used to stoch once again, and hopefully improve my performance and avoid false signals.
u almost forgot AUDUSD 1.0300 long didnt get filled - 1 pip front run. so i had manyally open a long position at 1.0305 risking 5 pips more than i originally planned (25 pips at risk on this trade)
Best of Luck and wishing congrats on your success.
Post #141 is edited to enter chart and trade details of Trade 12 (Long on CAD/JPY)
You may use any indicators, that suits to you to avoid wrong entries. Our intention is to get out of fake outs. It is up to you to use any indicator. But the intention should be same.
I am waiting for the price to reach 1.0280 area and to form a bullish candle to enter long on AUDUSD. I also may enter long even before this target subject to a stochastic cross over.
We can get many possibilities at a time. This is due to the currency correlations. Better to take few best set ups. Try to say no to over trading.
yea i kinda feel overleveraged sometimes.
my stop on AUDUSD is at 1.0275lol)) guess you gonna be taking my money 
PS JPY pairs are on fire.
Gud day Bijoy,
I agree with you too. I have been guilty of overtrading in the past and have paid the rpice for it. Now I am curbing my impulses and following a strict regimen of discipline. Looking forward to few good trades rtaher than a lot of indifferent trades.
Good luck
DD
this market never looked bullisher
Hi kwonkicker, I think starting your own journal would be a great idea as i would get alot more out of your posts if they were all in one place in order and i could study your stuff seperately and then compare it with others afterwards.
Great that you are so active in posting. Would be good if you and Bijoy could critique your losses also so we can maybe discuss them and maybe find more profitable ways of doing things, or just confirm that it was a good trade that didnt work out.
Hi Bijoy, good luck on your trades this week. Have you had a chance to look into if this moving of the SL to BE is profitable in the long run?
sorry that i didnt lost a trade since i started posting lol) im posting now cuz im kinda free but after holidays ill be barely able to post thats why im spamming on bijoymj’s thread))) one thing about stops and losing trades tho - i use fibonacci tool to open a position, and my stops are always “one-and-a-half” level below or above my entry level. and if i may, moving stops aren about winning the most of it, but protecting capital. thats all a business is about. if you read all posts on this thread there should be something about trailing stops. i close one position after reaching 1.5level from my entry, and move sl to b/e on all other positions(i always poen 3-5 positions for one setup). so that way im both winning and also protecting my capital.
PS: those setups that bijoy are posting (and so are mine i believe) have very simple rules so discussing why trade didnt work is a waste of time imo. You cant be right all the time. but if there is anything wrong with my trade ill post it like i did above. i closed all my positions when i posted the last picture(all xxxUSD pairs). sorry that i didnt mention it earlier. It still might go higher, but since im not comfortable with it i believe no gain is worth the stress im under while my money is on the line)))
I will be continuing my trades in the same way till this month end. After the month, I will have a look back in to my trades and the entire trades will be reviewed to identify the reason for losses and profits, good and bad decisions that affected the trades positively and negatively, factors that would have been made my trades more successive, rules required to be changed or altered for better achievement etc., etc,
I expect that the review post will become the most attractive and valuable post in this thread for all of us. So let us wait up to this month end for having a meaningful reconciliation and to find out the truth that will lead us to success.
Hi Kwonkicker, I understand why the trailing stops are made, as you say you are trying to protect capital. What i am asking is have you looked statistically over the course of say 200 or 300 or 500 or more trades if it is actually profitable to do it this way?
Bijoy started by saying that over the course of a year and 88 trades he made $35 on a $3000 account. I wondered if this safety mechanism of protecting capital was actually hurting his profit over the long run. Yes he may have lost money if he hadnt ued his method but it also possible that he may have made more profit. I’m looking to remove personal opinion and to use the data. It never feels good to lose a trade but if it means my overall strategy is improved and i make more money who cares? :0
