My open USD/JPY took profit. Let’s keep these flood gates opened.
Twiddling my thumbs lost on a EUR/JPY random trade I took but risked only 10 units so literally lost less than 0.2%. (Eyes on tomorrow for sure)
9:02 PM
Took a Long trade with USD/CAD I totally set my TP wrong on my phone & it would’ve hit the TP in 5 minutes 20 pips further.
Had 3 USD/JPY trades earlier (suspected a kind of dismal USD report) so I closed all my 3 positions right before the news was released (Thank God, or I would be looking at 3 SL’s instead of just 1.)
I lost $20 in one USD/JPY & Made a $100 on the other 2 USD/JPY trades. I think the markets are doing a bunch of see saw swinging & unless I find an optimal position for today it’s best not to enter any trade.
If I don’t end up trading today my week ends at 66% win pct. (With a 1.45% gain this week)
Which is on track for my 5%-10% monthly gains.
Again the day might just fizzle out ranging for USD pairs with reports just kind of consolidating from the softish numbers put up.
Bullard says we should hold off on Dec rate hike / Brainard says we should raise in near-term but otherwise uncertain for 2019.
Currently the rate is 2.25% - A lot of people are on the fences feeling a slowdown creeping in a lot of businesses are hesitant of looming tariffs & rate increases . Especially with the uncertainty of the trade war & Brexit looming. Also OPEC has agreed to cut 1.2 mil bpd so inversely expect commodity heavy countries to make some gains in the coming weeks. (USD/CAD | AUD/USD) **
So pissed right now every direction my EMA/MA cross has indicated would’ve been all successful moves for me. Oanda only has price signals on mobile & my phone was on silent from my last meeting so I literally missed all key entry points.
Well at least my analysis happened to be right for the most part.
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So far this week only took a trade on USD/JPY but that one trade alone has made me 1.29% gain for today. So I could literally take one more trade this week and be ahead of my monthly goals.
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Kind of twiddling my thumbs looking for the right trade not in a rush or anything and just watching the markets play out.
Had 2 USD/JPY trades today
(one I manually closed for TP - it would’ve hit eventually)
(2nd I let it ride to the TP)
So pretty much this week has me pretty ahead of the curve for profits
It’s all about making meaning full trades I don’t have to trade a lot to make the same profits - Just need to stick with trading what only meets my systems requirements.
Also already on track to meet my 5% quota who knows if I’ll try to go for a 10% gain this month which would be 3rd best month this year.
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Got greedy traded against the system - both of them were losses but again I didn’t risk much but this is the learning lesson for all traders.
**NEVER TRADE AGAINST THE SYSTEM - IF YOU WON ALREADY CLOSE IT OUT & JUST WAIT FOR THE NEXT TURN. - I WAS MAD I MISSED OUT ON A HIGHER TP ** Either
Still on track at 3.12% gains this month will close out my trading application & hop back in later tonight.
I hear you there - I had a glass of wine last night (I lie, actually a bottle) and dropped $3k in a Cable trade overnight - a trade that I didn’t even know I placed until this afternoon when I got the alert that my stop was triggered. Ha, there goes a decent weekend away over the festive period 
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No way mate! Sorry about that I hope the wine was deliciously worth it. Yeah sometimes we have to smack ourselves on the hands as traders. I know it was against my system that’s why I was mad because I basically resorted to gambling and that’s what happened. We need these type of corrections sometimes so we don’t feel like we are invincible.
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It’s all good, I have a bad habit after a few cheeky drinks, perhaps a NY resolution?
Thankfully I kept to my 2% max rule otherwise I’d be on the end of a rope around about now!
Haha exactly like you said always safeguarding those set in stone rules.
This is true, one reason why I paid someone to make me a script that won’t allow me to risk more than 2% on a trade - my god that was the best $500 I ever spent (although i’m sure there is a built in feature in my platform somewhere) 
Haha hey since you couldn’t figure it out you paid for the solution. Not bad at all, I’ve always never risked too much on a trade it’s just I’m more callous to keep trying chase flailing TP & it bites me in the butt. Usually when I follow my system it rarely occurs where the trade goes really bad on me but it does happen. Haha you were suppose to refrain from trading until next year mate now we need to toast on New Years to that resolution of yours.
That’s true, and i’ll accept that 
I know, i’ve already got a rather heavy trade lined up that I need to take before Friday 4th Jan, it’s a six month option to purchase Cable at 1.0000 - expiry date end of June 2019. A rather hefty gamble, but the odds are rather tempting.
Hmmm doesn’t sound bad are you planning on short/long?
Seems like a big decision to make.
Oh it’s a put option at a strike price of 1.0000 - there’s building rumours that parity is possible in GBP.USD, more so likely in EUR.GBP. I have a funny rule that if I have surplus to predicted profits for the year end then I have to risk it on a single trade, medium term, logical and of course possible. So that lead me to GBP.USD, i’m banking on a real shitty Brexit, something that will smash the markets and cause chaos.
So, if it all goes wrong make sure you think of me