I love to trade fx using USD/JPY pair | Forex Factory

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I love to trade fx using USD/JPY pair

  • #1
  • First Post: Jan 4, 2018 4:09am Jan 4, 2018 4:09am
Hello,

I will record all the transactions I am going to do in this journal every day so that I can know my level of ability to analyze the USD/JPY movement throughout 2018.

If there are comments or suggestions from fellow traders then I will answer it with pleasure.

Thanks.
  • #2
  • Jan 4, 2018 4:24am Jan 4, 2018 4:24am
4 January 2018

Sell UJ @ 112,671 SL 60 pips Target 100 pips
Attached Image (click to enlarge)
Click to Enlarge Name: uj4jan18.png Size: 23 KB
  • #3
  • Jan 4, 2018 4:54am Jan 4, 2018 4:54am
Actually I do not open positions every day because I just follow the ongoing trend. So I never fight a profit taking process that exceeds 70 pips . I will patiently wait for the process and choose to re entry at the right point.
  • #4
  • Jan 4, 2018 5:08am Jan 4, 2018 5:08am
The maximum target in a day is 150 pips and the biggest stop loss is 60 pips. The transaction duration is 24 hours since the Asian session opened until the New York session closes.

If there are friends who follow the signal I upload and turn on the way have been profit 100 pips for example, then you can close the position with a profit of 100 pips or you can also wait until the maximum target is reached.
  • #5
  • Jan 4, 2018 6:17am Jan 4, 2018 6:17am
Do you have a reason for this trade?
(.)(.) think first ...
  • #6
  • Jan 4, 2018 7:15am Jan 4, 2018 7:15am
Quoting maximumguita
Do you have a reason for this trade?
Yes I do,

1. Follow the ongoing trend
2. Close the position after the New York market closes.
3. Pay attention to the candle formation at the opening of the Asian session. Do not jump to open a new position, especially if:
a. Profit-taking process is too long
b. There is a pinocchio bar
4. Do not close the position too early if the profit has not exceeded 100 pips.
5. Be patient, patient and patient to make transactions.

Thank you
  • #7
  • Jan 4, 2018 7:38am Jan 4, 2018 7:38am
My method will lose when the market changes position. Take a look at the chart below.
Attached Image (click to enlarge)
Click to Enlarge Name: uj4jan18.png Size: 38 KB
  • #8
  • Jan 4, 2018 7:57am Jan 4, 2018 7:57am
Quoting Cm7
{quote} Yes I do, 1. Follow the ongoing trend 2. Close the position after the New York market closes. 3. Pay attention to the candle formation at the opening of the Asian session. Do not jump to open a new position, especially if: a. Profit-taking process is too long b. There is a pinocchio bar 4. Do not close the position too early if the profit has not exceeded 100 pips. 5. Be patient, patient and patient to make transactions. Thank you
ongoing trend??? IMHO the entrie is the worst i saw for a long time,sorry. Second, i don´t see there a 100 pip target but a easy SL hitting :-( why is your stop at this level??
(.)(.) think first ...
  • #9
  • Jan 4, 2018 2:41pm Jan 4, 2018 2:41pm
Quoting maximumguita
{quote} ongoing trend??? IMHO the entrie is the worst i saw for a long time,sorry. Second, i don´t see there a 100 pip target but a easy SL hitting :-( why is your stop at this level??
Lol, actually the best place for entry was 112,800 but I was late to see it and Stop loss should be 113,400. I always use 60 pips for the SL while the target is between 100 to 150 pips. Soon the Asian market will open and my position is still open 12 pips negative, and I will keep it open until the next day.
  • #10
  • Jan 4, 2018 2:48pm Jan 4, 2018 2:48pm
Quoting maximumguita
By the way, as a little tip, if you want to trade uj, maybe you will have a look at the monthly chart. Engulfing bar inside bar inside bar- a breakout will happen the next time (adx below 15)!
I do not really believe in Engulfing bar but I pay attention to Pin bar even though it will not really affect my decision to entry if there is a strong signal from my other indicators.
  • #11
  • Jan 4, 2018 3:03pm Jan 4, 2018 3:03pm
There will be NFE news but I hope the market will stay down. I have to be consistent with the rules I made earlier that I will lose a maximum of 60 pips if the market goes against my position or win a maximum of 150 pips if the market goes with me.
  • #12
  • Jan 4, 2018 3:59pm Jan 4, 2018 3:59pm
Quoting Cm7
{quote} I do not really believe in Engulfing bar but I pay attention to Pin bar even though it will not really affect my decision to entry if there is a strong signal from my other indicators.
i don#t believe in engulfing bars too, what i want to say is, that the market is highly compressed and will break out.
(.)(.) think first ...
  • #13
  • Jan 6, 2018 3:12am Jan 6, 2018 3:12am
Quoting Cm7
4 January 2018 Sell UJ @ 112,671 SL 60 pips Target 100 pips {image}
SL hit.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY_MRGDaily.png Size: 37 KB
  • #14
  • Jan 7, 2018 7:30pm Jan 7, 2018 7:30pm
Limit Buy @ 112,800 Target 114,100 Stop 112,200
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY_MRGDaily.png Size: 39 KB
  • #15
  • Jan 8, 2018 4:32pm Jan 8, 2018 4:32pm
Quoting Cm7
Limit Buy @ 112,800 Target 114,100 Stop 112,200 {image}
This pending order is not executed.
  • #16
  • Jan 8, 2018 4:38pm Jan 8, 2018 4:38pm
Limit Buy @ 112,900
Target @ 114,200
Stop @112,300
  • #17
  • Jan 8, 2018 4:44pm Jan 8, 2018 4:44pm
USD/JPY Daily
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY_MRGDaily.png Size: 40 KB
  • #18
  • Jan 11, 2018 6:48am Jan 11, 2018 6:48am
Quoting Cm7
Limit Buy @ 112,900 Target @ 114,200 Stop @112,300
Result : -30 pips
  • #19
  • Jan 11, 2018 6:58am Jan 11, 2018 6:58am
10 Jan 2018

Sell @ 112,710
Target @ 111,210
Stop @ 113,610

Result + 135 pips
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY_MRGDaily.png Size: 45 KB
  • #20
  • Jan 11, 2018 7:00am Jan 11, 2018 7:00am
11 Jan 2018

No deal
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