EuroYen

Hey there FxPip, I just saw your thread and it seems like you have a pretty effective strategy! I will follow this thread and wish you the best of luck on your trades.

I'm looking to start a live account soon, so I'm pretty excited, and every time I see someone achieving great results like this, it's more encouraging!

Keep up the good work, and if it keeps working so great, feel free to let me know what indicators you're using to trade the EuroYen! http://forexfactory.com/images/icons/icon10.gif

Thanks for your kind and encouraging words, Gator.

Its early days .. time will tell if I can consistently make good money scalping the EY. I am confident enough at this stage that I have a reasonable handle on my emotions and have grasped the indicators to make wise entry decisions, that I also now trade this very same entries on my live account.

I don't want to become too aggressive and greedy. Here are enough pips for everyone.

Been struggling a bit with old bad habits, I still cling onto sadly.

Made 11 trades of which 3 were losers so far today. i am showing the last trade of the previous statement just as not to be cheating. I post it all the good and the bad, Thats why i have this journal. I need to be dead honest with myself, its the only way to move forward and become really succesful.

One trade during Londen session was a big way out of control loser, I should know better ! I panicked when it went so fast against me then I tried to hedged with 2 trades in the opposite direction to set off some of my instant losses. Then I panick even more, as I didnt know which to close when having buy and sell trades at the same time. Just a mess !

Now during NY session I am having a hard time finding my 'groove'. Account is back up where it was yesterday.

Balance now is at $ 7789 .. still a 56% increase from when I started it yesterday.

Hopefully some calming down of my emotions and more patience will result in good trades again. I am ever hopeful

Had 18 scalps for today so far

Winners : 12
Losers : 5

B/E : 1

Account went from $ 7785 to $ 7960 = + $ 175

Not a good performance

Up 2.2 % for today.

Overall up from $ 5000 yesterday to $7960 = $ 2960 = 59%

Lessons learned : One big loser is a killer on an account. Keep losses small. Walk away soon from a bad trade. Not all trades will be winners I have to accept that I will have losses keep them SMALL !!

There will be another bus to hop on in 30 minutes. Look after your capital. Losing money in this business is so EASY.
Making it back is so incredibly HARD.
Even harder on my emotions to live with such a huge loss.

Sometimes a blond like me, I let it all hang out and trade like a cowboy. All over the place with emotions running wild and the EY horse bucking on me big time.

Report : Asian Session

I have decided to open for every session a new demo account to keep track of my trades its simply easier to do the math this way seeing that I first enter the same trades on my live account and I do get into a few trades per session it cuts down on the calculations for me a bit and I also want to see how profitable is the Asian session for me.

Tonight I had a total of 14 trades

11 winners = 34 + 2 + 6 + 13 + 12 + 1 + 8 + 16 + 5 + 6 + 1 = 104

and 3 losers = 24 33 27 = 84

Net gain = 20 pips

Account went from $ 5000 to $ 5409 for a 8.2% increase

My performance today was just ok. I know I can do better. I was trading sort of all over the place and not planning the trades very well (as if I can afford to lose money ! )

I am thinking I have to be more disciplined and plan it better. I need to be alert all the time while watching for a possible set up. I find myself asleep at the wheel a lot of times, then I see a sudden move. I have no idea where it came from and I blindly jump in normally with disasterous results for that particilar trade.

I also find that my losing trades are too big I need to let go of the bad apples way sooner. Trading mainly off the 5 min and 1 min chart there are at least 2 opportunities every hour to make a few. So why do I jump in when I am not totally prepared or anticipating an upcoming trade. I begin to think that maybe my brain tells me this is easy you can mess up this trade and make it up on the next. I cannot afford to think that way. In so many ways this is all in my head.

I am hoping for a better day tomorrow. Good luck to everyone