FX Trade Setups, Entries, Management and Exit

eur/usd setting up for a short. Entry possibly next bar as it's potentially coming off the 49 average on the current bar. Stop will be placed at 3310, 10 pips above century and above today's open. daily pivot point and weekly R2.
 
scratch gbp/usd. It was tough enough to determine the prior higher high so that should have been warning enough, but I can't tell chalk from cheese on this pair right now. If in any doubt, scratch it.
 
cad/jpy looking longish - already getting entry signals, but from a lower low which isn't that promising.
 
Got a fresh usd/jpy long entry signal at the current bar's open at 99.65 - just a pip above where I thought I would be getting in when I posted 2 hours ago. I did wonder at the time when I entered at 99.76 why is was so much higher than I had thought it would be. I'm sure the answer will come to me.
 
Looking at gbp/jpy which is has a reasonable long setup, but not massively keen to pursue it. My currently floundering long usd/jpy may well be the reason. It could also be I suspect the most recent low was the 07:45 bar (anyone agree with that?) in which case it's coming off a lower low.
 
gbp/aud would be taking a long but for OANDA's 9.5 pip spread on a pair that's only managed 31 pip range since the London open.

Out of interest, why is the GBP cross the AUD and NZD always so expensive? Is it just OANDA - probably not. Is it lack of or too much volatility or something else entirely?
 
I've had a disappointing morning. I've been long Jpn/Euro since 0819 and am currently -5 points and it seems to be going nowhere. The only consolation seems that it is the same story with all (those that I have looked at) pairs and indices.
 
I stopped manually for 8 points loss. I went to footsie, shorted and got a little more than 9 back, this afternoon but, vamos, a boring day for me.
 
Do you want comment?
Yes of course. That's the primary purpose of exposing the soft underbelly of my stupidity on this thread so that those who do know how to trade can perhaps share the occasional nugget with me in return for the mirth I provide by trading like a Yeti retard.

Not that you personally haven't already done more than your fair share to assist my efforts Shakone.
 
The best way for me to enter or exit the trade is along the strong resistance or support levels and my trades are occasional.
 
Given my propensity to sit on losing trades until they take all my risk offered coupled with my desire to improve my sub-1:1 winners versus full risk losers ratio, I'm going to set my stops as I have always done, but if my loss per trade approaches 50% of my risk, I'll review with distinct prejudice, the validity of staying in the trade.

I expect to kill a few trades in the process that would have gone on to make profits, but I'd rather that than lose the full ante on every losing trade.

I'm also not going to 2nd guess my entry setup criteria as I did with the usd/jpy trade on Friday. I'll wait for the criteria to have formed.

And I'm not going to sit in any trade where if I had not been in the trade I would not have been considering going in, i.e. even if the trade is a valid entry, if price develops such that no entry setup exists any longer - I'll get out.

I expect to have an increase in losing trades, but equally expect to lose less than I have been in absolute terms off my P&L bottom line.
 
usd/cad setting up for potential short. If price turns down from around current level of 0297 – weekly S1 and century - I’ll be looking to sell with a stop at 0316, 10 pips above daily S2 and weekly low and above century and weekly S1 levels.
 
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