Here is another long term chart, the USDJPY Monthly has also formed a double bottom....just thought I would post the chart in case anyone has not seen it.
--NM
--NM
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DislikedHuge number of good set ups. especially Eur/Jpy and Gbp/Jpy. I am short E/J and if it moves further low I am looking to add to short position. Also G/J is looking good for short.Ignored
DislikedHuge number of good set ups. especially Eur/Jpy and Gbp/Jpy. I am short E/J and if it moves further low I am looking to add to short position. Also G/J is looking good for short.Ignored
DislikedRight now I have no open trades, I closed them all down until after the 1st. Then I will be back in the game again.
--NMIgnored
DislikedGuys you have been at this for much longer.
What I noticed it is really hard to make say 50% annual return. I would not say it is hard to make 5-6% monthly, but overall to make it 50%+ annual return there must be practically no losing months.
Say you make 5 months each month 6%, ok, nice, then lose one month say same 6%, not nice. It was =30% before losing month. now, one more month to bring account back, it is 7 months and still 30% up. now again 3 winning months +6%, we are 48% up, and then loser -6%. and then winner +6% and we have 12...Ignored
Dislikedyour eur/usd trendline doesn't make any sense to me. You just picked the most recent low. But how do you know that really is a low?
Attached is how I have drawn mine. We are already below the trendline and the bias is already down.
I am not even thinking about a long at this point. Has to go above my black rectangle before I am thinking about going long again.Ignored
DislikedWell to be honest, trading is difficult, I guess of it were easy everyone would be doing it, but the way to bringing your returns up and I know I have said this before, but here it goes again:
Create a trade plan using a method that is as solid as can be, follow only the rules of that game plan and dont make up the rules as you go.
By implenting the rules and keeping track of your trades you can look back on each trade and make a determination what went wrong, and 9 times out of 10 it will be because a person did not follow the rules of the...Ignored
DislikedNM, what R:R you mean? what is 1:1:5? You mean at least looking for say risking 1% to get at least 1.5%?
I am actually following the plan. But my confusion mostly lies in trade management. When to take profit. I usually set targets around some S/R round numbers areas.Ignored
DislikedI am also not very analytical type. I am more of pull the trigger type.Ignored
DislikedI try to look for trades that will yield at least 1.5% not in dollars but in pips, if the S/R levels look like they will not allow that I will pass on the trade, even though it could manage a few pips. The reason is I want to train myself to take only those trades that are in my opinion not a waste of time or money....Ignored
DislikedWell really you think you are not the analytical type, but really what are doing when to take a trade? You looked at what happened in the past, you look for S/R areas, you are essentially analyzing the market to base your trade on. SO really you have more analytical stuff going on than you realize, see now you learned something about yourself...you are the analytical type you just did not know it...
--NMIgnored
Dislikedyour eur/usd trendline doesn't make any sense to me. You just picked the most recent low. But how do you know that really is a low?
Attached is how I have drawn mine. We are already below the trendline and the bias is already down.
I am not even thinking about a long at this point. Has to go above my black rectangle before I am thinking about going long again.Ignored
DislikedHere is another long term chart, the USDJPY Monthly has also formed a double bottom....just thought I would post the chart in case anyone has not seen it.
--NMIgnored
DislikedGuys you have been at this for much longer.
What I noticed it is really hard to make say 50% annual return. I would not say it is hard to make 5-6% monthly, but overall to make it 50%+ annual return there must be practically no losing months.
Say you make 5 months each month 6%, ok, nice, then lose one month say same 6%, not nice. It was =30% before losing month. now, one more month to bring account back, it is 7 months and still 30% up. now again 3 winning months +6%, we are 48% up, and then loser -6%....Ignored