Usd/Jpy sell: Win 26 pips.
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Eur/Jpy buy - Moved SL to BE.
Profit: 4 pips.
USD/Jpy sell: Set SL to BE
Usd/Jpy sell: Win, 5 pips.
All trades this morning made on 1M charts.
Eur/Jpy buy: Win 2 pips
Picked up 8 taking my kid to school on EU 
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This strategy is becoming almost programmatic and thoughtless. Stress is way down.
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I took the 17 pips on my euro/usd buy because once again, Iām driving. So itās like free easy money. Hopefully the trend runs and you make big money.
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No way.
Backtests are a math trick and are not an indication that live trading will be profitable.
Missed an opportunity for 10 pips just now on the EURUSD. Need to remember to keep the daily and hourly range in mind. 10 pips is huge!
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@samewise
I think Iāll let a little trade run for an hour on the euro/usd. If it goes the wrong way on me it wonāt eat up much of my profit.
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Do you have a daily or weekly pip target? Like when do you call it quits in a day? Just based on your availability?
Win: 4 pips. No momentum right now
@samewise
For me, its my availability.
I decided to not ever have a daily target, and only a preferred weekly # of pips. I can settle for 125 - 150/week, but 200+ would be the goal if I had more availability.
Income goal is for $1,500 - $2,000/wk. But that would take using 1Lot trade size and I am still using half lots, for the most part.
I donāt see big money coming until I can use 2Lot trades (Thatās big enough money to me).
I donāt expect to get there this yearā¦ So I what Iād like to see happen is doubling my account this year and getting to that 1Lot size trade. Then, after several consecutive winning months, I can retire and commit to more focus on Forex.
Even if I donāt fully retire, I can let go of some of my work clients and just work 10-12 days a month.
Thatās the plan. But there is no guarantee.
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What I learned from taking some trades based on the weekly charts:
First, the obvious:
If it could take 4-8 weeks for it to play out and you are only looking for a max of 500 pips, its not really worth it. You need a SL probably of at least 150 pips, just to have a reasonable expectation of making 100 pips (you know you will want to move the SL to 100 pip profit if it is sitting at 200 pips, and that is what you will likely end up gettingā¦ Then you have overnight carrying fees that eat into the profit for every night of the trade.
We know that we can make a positive 20 pips or more most days just using 1M or 5M charts in a matter of a few hours (and sometimes minutes or seconds).
Also, that pair is not available for other trades until the long trade is complete.
Second:
I do plan on using weekly and even monthly charts in the future, but a large account is needed and the psychology to handle being down 100 or more pips for several days, maybe even weeks.
So for now. I will look for a pair that I seldom use and place a trade for a few mini-lots so I donāt have to worry about anything. Kind of make it a hobby.
Eur/Jpy buy: Win 15 pips
Eur/Jpy buy: Win 14 pips.