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NZD/JPY, USD/JPY

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Simple and profitable trading style

  • #1,401
  • Aug 29, 2017 11:28am Aug 29, 2017 11:28am
Quoting dkarev
{quote} though am not trading some the pair you have listed but the few i do trade, i dont think i agree with bullish for usd/jpy and usd/cad,am still holding my sell position for those pairs and only resistance i see is at 1.2410 for usd/cad which i think might be broken.usd/jpy has not giving reasons to start thinking of buying as well,though am still learning and i will be looking forward to what the market has to say,i think gbp/usd is starting to buy but i dont have confirmation yet.
Strong hammer is being formed on the support on USDJPY
Make all mistakes in demo and rain in pips in live account
  • #1,402
  • Aug 29, 2017 11:55am Aug 29, 2017 11:55am
Quoting 9jatrader
{quote} These ones perform more than my expectation, GBPJPY and GBPCHF, short
Am out of GBPJPY short also. 500 pips not bad also. I decided to close GBPJPY because it moves the same direction with USDJPY
Make all mistakes in demo and rain in pips in live account
  • #1,403
  • Aug 29, 2017 4:40pm Aug 29, 2017 4:40pm
Strong setup on USDJPY at long last. The great thing is that it's was formed on strong support.
Make all mistakes in demo and rain in pips in live account
  • #1,404
  • Aug 29, 2017 5:06pm Aug 29, 2017 5:06pm
The hammer having bullish body increases the bias.
Make all mistakes in demo and rain in pips in live account
  • #1,405
  • Aug 29, 2017 5:19pm Aug 29, 2017 5:19pm
apologies, i am late to the party... can someone let me know the rules please. I think a similar method is used by BK8.

Is this the same.

Apologies again
  • #1,406
  • Aug 29, 2017 5:21pm Aug 29, 2017 5:21pm
Quoting maxleecool
apologies, i am late to the party... can someone let me know the rules please. I think a similar method is used by BK8. Is this the same. Apologies again
You don't need to be in a hurry. Go through the thread.
Make all mistakes in demo and rain in pips in live account
  • #1,407
  • Aug 29, 2017 5:25pm Aug 29, 2017 5:25pm
Go through the first few pages on the thread and then the current pages to know the main strategy and other strategies I use to analyze here.
Make all mistakes in demo and rain in pips in live account
  • #1,408
  • Aug 29, 2017 5:39pm Aug 29, 2017 5:39pm
It was wise in closing GBPCHF short. It's going up from the support. Am already bullish again. Market will finally decide if am right or wrong.
Make all mistakes in demo and rain in pips in live account
  • #1,409
  • Aug 29, 2017 5:41pm Aug 29, 2017 5:41pm
Good night everyone here.
Make all mistakes in demo and rain in pips in live account
  • #1,410
  • Aug 30, 2017 2:23am Aug 30, 2017 2:23am
Quoting 9jatrader
It was wise in closing GBPCHF short. It's going up from the support. Am already bullish again. Market will finally decide if am right or wrong.
More info about the pair is that stochastic has left oversold. Great movement ahead.
Make all mistakes in demo and rain in pips in live account
  • #1,411
  • Aug 30, 2017 5:30am Aug 30, 2017 5:30am
Quoting 9jatrader
Strong setup on USDJPY at long last. The great thing is that it's was formed on strong support.
Hello @9jatrader, I discovered your thread about two days ago and I'm very interested in learning this strategy. I have read the first couple of pages so I understand the major underlying strategy setup and I am still following up.

What I am trying to follow now are the sub strategies you have also developed along the way to support the main one. Like exit strategies, profit taking, etc.

I am following your active USDJPY BUY position now. What setup will you be looking for in order to close the order or to take profit?

Thanks and well done. I've subscribed to you on FF.
  • #1,412
  • Aug 30, 2017 6:48am Aug 30, 2017 6:48am
Quoting atmokupe
{quote} Hello @9jatrader, I discovered your thread about two days ago and I'm very interested in learning this strategy. I have read the first couple of pages so I understand the major underlying strategy setup and I am still following up. What I am trying to follow now are the sub strategies you have also developed along the way to support the main one. Like exit strategies, profit taking, etc. I am following your active USDJPY BUY position now. What setup will you be looking for in order to close the order or to take profit? Thanks...
Thanks for joining us here. About USDJPY am looking at the resistance, 114.271 that had failed to be broken since May 2017 daily. Apart from that I will be using stochastic to monitor my exit in case it failed to get to take profit before making U-turn. Check my stochastic thread also.
About other strategy, strong Hammer( especially having bullish body on strong support, supported by bollinger bands lower breakout ); Dragonfly/Pinbar above strong support; Bullish Engulfing above support, sometime by lower band breakout; Tweezer Bottoms- all these for bullish trades.
Opposite is the case for bearish trades- strong Shooting star, having bearish body below/near strong resistance; Tweezer Tops below/near resistance;Bearish Engulfing Pattern supported by upper band breakout
Make all mistakes in demo and rain in pips in live account
  • #1,413
  • Aug 30, 2017 6:54am Aug 30, 2017 6:54am
We would see how USDJPY long and GBPCHF long would move. I was late on GBPJPY and so had to ignore it and focus on the two
Make all mistakes in demo and rain in pips in live account
  • #1,414
  • Aug 30, 2017 7:01am Aug 30, 2017 7:01am
I wish to say again and again that all my trades don't end in profit. I minimize loss and maximize profit. One of $500 currently hitting $1290++. I started with small lot size and built the account. All my lot now is 0.04 and 0.05 in other to hit better profit. This is some we should not do when account is still struggling to build up. When we have successfully doubled/tripled account we can increase lot size a bit.
Make all mistakes in demo and rain in pips in live account
  • #1,415
  • Aug 30, 2017 7:09am Aug 30, 2017 7:09am
Just as we can not have only one strategy for entry I don't think we should have only one strategy for exit. My GBPJPY short take profit was over 1000 pips,on strong support, but it was intercepted by another support after making 700 pip down. I have to adjust and avoid greed and get out.
Make all mistakes in demo and rain in pips in live account
  • #1,416
  • Aug 30, 2017 8:10am Aug 30, 2017 8:10am
Quoting 9jatrader
Just as we can not have only one strategy for entry I don't think we should have only one strategy for exit. My GBPJPY short take profit was over 1000 pips,on strong support, but it was intercepted by another support after making 700 pip down. I have to adjust and avoid greed and get out.
Awesome. I've not been very successful with short term trading because I don't have enough time for intraday trading, so I am interested in learning how I can start longer time trading and I think this strategy will be beneficial to me.

Thanks. Pls keep the updates coming.
  • #1,417
  • Aug 30, 2017 9:03am Aug 30, 2017 9:03am
Quoting 9jatrader
After EURNZD, AUDNZD would be the second pair I will be using the strategy- I mean the new strategy. The weekly is right below resistance. I would move my take profit and monitor the weekly breaking the resistance and the daily closing/closed above the upper band. It's already 470++ pips. The interesting thing is that it can be used to maximize profit apart from using it to enter new position {image}
On AUDNZD, price is strongly reacting to the resistance under which I closed my long position. Stochastic main and signal already crossed each other, though still remain on the overbought. No signal yet, but remain in focus. If Tweezer Tops Pattern forms and stochastic leaves overbought I will jump into the bearish position
Make all mistakes in demo and rain in pips in live account
  • #1,418
  • Aug 30, 2017 9:07am Aug 30, 2017 9:07am
Quoting atmokupe
{quote} Awesome. I've not been very successful with short term trading because I don't have enough time for intraday trading, so I am interested in learning how I can start longer time trading and I think this strategy will be beneficial to me. Thanks. Pls keep the updates coming.
I will keep updating. My two threads are like trade journal for me, though I have hard copy trade journal. Trading the daily and longer time frames give you opportunity to go about your other business, without sitting all day with computer. You check the market at the end of the day and if there is setup you get and go about what you want to do for the day
Make all mistakes in demo and rain in pips in live account
  • #1,419
  • Aug 30, 2017 9:10am Aug 30, 2017 9:10am
One of $200 more than double. If I successfully land well, this is when I increase lot size
Make all mistakes in demo and rain in pips in live account
  • #1,420
  • Aug 30, 2017 9:18am Aug 30, 2017 9:18am
Quoting 9jatrader
{quote} On AUDNZD, price is strongly reacting to the resistance under which I closed my long position. Stochastic main and signal already crossed each other, though still remain on the overbought. No signal yet, but remain in focus. If Tweezer Tops Pattern forms and stochastic leaves overbought I will jump into the bearish position

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Make all mistakes in demo and rain in pips in live account
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