JPY and my progression as a trader

[ndnole]

Why did I tweak the trade? In the past I let winners turn into losers. When I realized what I could do with fixed ratio money management I resolved to not let that happen if I could help it going forward. There is no reason to be up 30 pips and end up losing. Because I expect today to be a trend day I am going for more than 30 pips but under other circumstances I would shoot 30 to 50 and be happy. Now if trade turns around I will not lose and will have capitol preserved for another day.

133.06 should prove to be good resistance anyways. If it is broken upward then my trade would be invalidated.

 

[ndnole]

EURJPY had a narrow balance day and looks to be the better potential to short if it stays below value.
Sold eurjpy
133.13

SL 133.50
TP Hard target 132.20 set a trailing stop of 35 pips

OUT 132.76

+37 pips. Not bad for a few hours work. Price action was reversing. Better to book profit than to give it away.

 

[ndnole]

Short GBPJPY
158.06
SL 158.50
TP Hard target 157.40 Trailing stop 30 pips

 

[ndnole]

Short GBPJPY
158.06
SL 158.50
TP Hard target 157.40 Trailing stop 30 pips

SL hit

 

[ndnole]

Well the sample size isn't large but since I have made a written plan and actually stuck to it I have done much better. Along with a money management plan using fixed ratio I can see the light. I don't always have the time to post my trades right away so here is my myfxbook to follow if you wish.

https://www.myfxbook.com/portfolio/triple-fib/529999

 

[ndnole]

I will still be posting my trades but if you are like me, I dislike seeing people make calls 2 hours after the fact. This way if I should miss posting a trade it can be seen on the myfxbook page. If there is something I can improve on I would like to hear from you on how I can become a better trader. If I can successfully demo this for 6 months or more then I will go live again.

 

[ndnole]

Buy EURJPY
134.72
SL 134.38
TP Hard target 136.20 with a trailing 30 pip stop.

Looks like a trend day developing.

 

[ndnole]

Buy EURJPY
134.72
SL 134.38
TP Hard target 136.20 with a trailing 30 pip stop.

Looks like a trend day developing.

Don't like price action now. Momentum not carrying and with news coming up its better to take small profit and wait for another trade. Out at 134.84

 

[ndnole]

New order set.

Short USDJPY
100.09
SL 100.40
TP 99.55

Price above high value and momentum is declining.

 

[ndnole]

Also, added 30 pip trailing stop. Trade has not been triggered at this time. Price is 100.18 currently

 

[ndnole]

Short GBPJPY
161.38
SL 161.80
TP 159.40 hard target. 50 pip railing stop