pips88

pips88

Active Trader
Aug 23, 2016
18
0
42
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?
 

pips88

Active Trader
Aug 23, 2016
18
0
42
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
 

pips88

Active Trader
Aug 23, 2016
18
0
42
Week 1 (Sept 19 - 23) Goal From $242.73 to $485.46

Trade 1 : UJ Gain $5.48 @$248.21
 

pips88

Active Trader
Aug 23, 2016
18
0
42
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.
 

pips88

Active Trader
Aug 23, 2016
18
0
42
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
 

pips88

Active Trader
Aug 23, 2016
18
0
42
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.
 

pips88

Active Trader
Aug 23, 2016
18
0
42
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.
 

pips88

Active Trader
Aug 23, 2016
18
0
42
Hi pips88,

Thanks for your posts, I am just a noob but I see your posts and which I can do similar things soon. Can you help me with this trade of mine that I lost? I want your insight on what I did wrong below and how I can do better for a trade like below.

Sorry, i have been away from recording journal. Just for the purpose of answering the above question. This is what i think below2019-09-08_18-28-03 problems.png
 

pips88

Active Trader
Aug 23, 2016
18
0
42
And i am back recording my journal. My latest set up. :)

2019-09-08_15-48-03 eu.png

For EU, Overall still at the downtrend. Last week price went up, but the last 2 days price drop. Expecting price go up to ranging price from 1.0294 - 1.10409. fighting zones is from 1.10199 - 1.10234.

Action to take :1) Will wait for the height next week if i am going to sell.
2) Will see if price able to break 1.0199 - 1.10234 if it continue to drop (continuation). Then only to sell if it break the fighting zone. We will see how this pair play out.
 

pips88

Active Trader
Aug 23, 2016
18
0
42
How's your trading been going over the years?

Learning a lot. The only problem is i keep changing strategy. So i will stick with this set up and see if it's holy grail. Haha!!
 

pips88

Active Trader
Aug 23, 2016
18
0
42
For AU..2019-09-08_20-17-52 AU.png

Price went up from from 0.66883 to 0.68620 last week. It's a good catch for those who long. Only during the last 4 hours price drop to 0.68446 before closing, and then increased by few pips.

Action to take: 1)I anticipate some correction before continuation on drop. The question is how deep the correction would be?
 

pips88

Active Trader
Aug 23, 2016
18
0
42
2019-09-08_22-54-52 EG.png



All i can say about EG is its a good opportunity to long. Should i just jump in or set a buy pending order? Lets see when the market open in a short few hours later.
 

pips88

Active Trader
Aug 23, 2016
18
0
42
2019-09-09_11-32-12 GU.png

GU start with a drop. Looking for an opportunity to short. Will the euro session push the price higher before it drop?
 

pips88

Active Trader
Aug 23, 2016
18
0
42
2019-09-09_13-43-46 gold.png

Gold. Will it now range at this level 1502.20 to 1527.68 Lets see..
 

pips88

Active Trader
Aug 23, 2016
18
0
42
Pointers from EG, need to check the higher timeframe to see the overall trend.

2019-09-09_17-23-40 eg.png

Great. Learn something new again.

The opportunity to long is only for 20 pips :)
 

pips88

Active Trader
Aug 23, 2016
18
0
42
Found an apps that can organized the post better. Well i think i will end my journal here. Wish everyone many pips. :)