Hello. My journal to keep trak of my PnL.
I’m a short term scalper by trade.
Currently short USD/JPY @97.77 10000 units
As a trader hardest thing I have to do is to reject trade after trade that comes into my head. Most of those trades are contrary to the “trend”. others are with but in a bad place. i could trade 100 times per day should i gave into my baser instinct.
Exited my USD/JPY short @96.53 from 97.77 +124 pips
I buy USD/JPY here @96.42
Trading pairs of price chart is like navigating a crime scene. Which clues are planted to throw you off the trail, and which are real?
one sign of a trade that might work out…is when theres a lot of price action around it. you know you’re on to something if not positioned correctly just yet.
Exit USD/JPY here @ 96.51 +9 pips
Short @ 96.51
making 9 pips is like a stop loss to me…thankful made $ on my SL…short here
the momentum players are spent…you can just feel the lul in the price action here… slow price decline
as price slowly decays i will hold short from 96.51. dont expect a windfall from here…just a nice 15-20 pips
early but my thesis is still sound
Exited my JPY/USD short from 96.51 @96.15 +36 pips
More juice in this pair to short side.
Short USD/JPY @ 96.17
Got out USD/JPY short from 96.17 @ 95.85 +32 pips
Bought USD/JPY @95.88
Why did you buy USD/JPY?
Playing a hopeful bounce to 96.30-ish. No profound reason other than that lol
I just believe we pop above 96 here.
Before a trade I rapidly flip chart timeframes to get a feel for trend and target. Starting with weekly I rapidly flip through daily>8hr>4hr>2hr>1hr>30min charts in that order. Rarely do I go below the 30 min. A trade pops into my head I take it. That’s essentially my “system”.
That’s a lot of charts to look at! I’m only just starting out so going with 4h, 30m, 15m
I don’t stare at them or have them all up all the time. I flip through the timeframes on one chart fairly quickly. Gives me a feel for major trend, short term direction and probable targets once in a trade. It’s like…"boom boom boom boom’ thru all…place trade