pips88

Discussion in 'Trading Journals' started by pips88, Sep 18, 2016.

  1. pips88

    pips88 Trader

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    UJ @weekly

    UJ@WEEKLY.png

    Upcoming event BOJ and FOMC
    Q1: How will this two events affect this pair. BULL or BEAR?

    Q2: Previous balance affect the current price behavior?
     
  2. pips88

    pips88 Trader

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    2016-09-19_3-53-45.png

    2016-09-19_4-05-25.png
     
  3. pips88

    pips88 Trader

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    Trading strategy (Until 1 hour before BOJ)
    Swing and scalp @ lower timeframe by using different set up.

    Set up A
    uj@30.png

    Set up B
    uj@1.png
     
  4. pips88

    pips88 Trader

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    Week 1 (Sept 19 - 23) Goal From $242.73 to $485.46

    Trade 1 : UJ Gain $5.48 @$248.21
     
  5. pips88

    pips88 Trader

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    Trade 2 : UJ Lose $4.31 @$243.90

    UJ @5.png
    Main Set up. Zoom +M5

    Insight : Crossing out trendline for maksimum pips. & Surprisingly price still obey the previous TFV which act like support and resistance.

    Note:
    1. Exit too early on trade 1. Potential to gain extra $20
    2. Mistake trading correction on lower timeframe. Consider lucky cause able to cut lost although 'late.
     
  6. pips88

    pips88 Trader

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    EJ @30

    Note: Waiting for the next set up to long. Refer set up B. Be careful it may break the correction and resume bear again as weekly chart indicate so.

    ej@30.png

    Task to do : Set up RULES to trade
     
  7. pips88

    pips88 Trader

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    Problems:
    • Hesitate to take the trade when everything seems favorable. Decision making in chaos as when referring to multi time frame, contradict signal arise, and too slow to decide (cons). Reason. Do not have the rules to trade for scalping. Should just have some simple indication, then just do it!
    • Frequency of trade is too low. Will not achieve your goal. So far only take 1 trade per time. Must increase 1 more. Must learn to trust your judgement and set up. Since UJ and EJ are very much alike. Just do it!!
    • You are ahead of the crowd. You are patient enough to wait. (My pro and cons as well). Day trading is not easy, mentally stress compare to longer term trade.
     
  8. pips88

    pips88 Trader

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    Trade 3: EJ Gain $5.01 @$248.91

    Insight:
    • This time able to gain some confident with my judgement. As mention in my problem above, just do it, simple indication. Able to go out before price correction. After all, scalp is about few pips profit. Look for another opportunity.
     
  9. pips88

    pips88 Trader

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    2016-09-21_1-40-34.png
     

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