Kumar's journal - cable and GBP/JPY mostly

I have finally decided to start a journal to keep track of my trades both on demo and live accounts. This is to make sure that I follow my methods. As it is in the public view I hope to think twice before entering a trade.

I live in the UK and work full time. Hence, my trading will be sporadic. I have been forex trading for just less than a year.

Forgot to post my trade. As i get used to it , i will post my trades immediately.
went long GBP/JPY at 238.71. based on my chart as shown. As the indicator started to turn up - bought at 238.71.
Partial TP will be at 50 pips and final TP at 100 pips.
Also on demo went long cable at 2.0335 0.5 lots. TP 2.0370. SL 30 pips. trailing stop 25 pips.
Kumar

GBP/JPY moved to BE.

gbp/jpy chart

Does not look like it is going to move any more. half TP at +21pips. rest at BE.

Closed GBP/JPY at 239.20.Cable stop loss moved to 2.0347

closed cable as it over bought (RSI 77) in 5min chart at 2.0376 as I pushed my TP upto 2.0395 from 370. small short for scalping. Closed the short for 1 pip as it not moving down.

Should have had patience on the cable short. could have had 30 pips by now. Lesson learnt.

I have a buy order GBP/JPY at 237.90 with stop loss 237.30 and tp 238.90. leaving for work soon.

There was a time limit on the GBP/JPY order (to execute before 10 am GMT). Hence, the order did not get executed.
GBP/JPY has hit 50% retracement of today's move. Will wait and see what unfolds.

order GBP/JPY sell at 238.20 time limited 6.45 pm.
Edit - good thing order expired before the price was reached.

Cable - sell limit at 2.0463.
Should be some retracement atleast. It is R2 and 161% extension of yesterday. hoping for 2.0425.

Hi,
do u think ok to sellGBP/JPY 239.7,Target 237.5?
tks
ele

Closed the short from 2.0463 at 2.0453 as it is not moving down fast enough.
Cable is making inside bars in 5m chart which ever direction it breaks it probably will be strong.


ele
GBP/JPY has still got some more upward movement, I think. Maybe upto 240.20-50.
Do not take this as trade recommendation.


Kumar

just before leaving for work had left a sell order for GBP/JPY at 239.86 with sl 240.45 tp at 239.00.
tp was achieved just now.
On demo account had a 25 pip trailing stop that was triggered for +1 pip. fortunately the live one got +86.

just went long GBP/JPY 238.60 tp 75pips.

bought GBP/JPY at 238.25 and 237.90.

All GBP/JPY trades now equate to buy at 238.30.
Was quick on the trigger unnecessarily. i should have waited for the signal from my system, if i had waited, I would have bought at 237.90 instead of buying on the way down.
Lesson learnt - wait for a clear signal. easier said than done.
now tp for all 3 trades - 238.70 but may increase it or close the trades depending on how the prices unfold.
good chance of price going up further but have to leave now. hence, closed all trades for +4 pips.

Edit - if I had waited 15 minutes more before leaving, could have made +40 instead of +4.

buy GBP/JPY at 237.75 tp 238.20. then, short.

fortunately did not have time to get to a computer to short at 238.20. so +45pips on GBP/JPY.

I had left a buy order at 2.0326 for cable. It was the daily pivot (2.0322) and around that was 38 % retracement from friday. Friday was a bullish pin bar. So thought that cable has a good probability of finding support there.
TP - 2.0395. SL 35 pips.