Tug-of-War Journal

Shorted the USD/JPY at 83.43.
It has two m15 bars to get in profit or it will be closed.
Not expecting too much from today. London moves should be better than NY since US banks have the day off.

Stop entry short set on USD/CHF.
Looks like upside is losing steam at this 4H Resistance.
If entered, I will monitor closely.

Only one more bar to go on the USD/JPY to see if I will keep the position. So far it looks okay but not great.

USD/JPY Stopped and reversed. Needs to break 83.52 and run a little. First bump in the road is at 83.60 but in uptrend resistance is made to be broken.

USD/CHF order removed. Breaking upside Resistance. No Trade ATM.

GBP/USD Shorted and has one bar to convince me to stay in otherwise I will cut it off. First bump in the road is 5754. Reason for entry: momentum failed to break resistance and broke a minor support to the downside.

EUR/USD put in a stop entry for short 3305. Should be obvious why.

Hedged GBP/USD Position and Bracketed Price, ready for Break Out.

EUR/USD and GBP/USD Shorts both triggered. Should be a nice ride... Will monitor first two m15 candles closely.

USD/JPY is at first roadblock see how it develops.

Cable m15 close is promising... Euro close pretty unconvincing...

Closed Euro trade. Will continue to monitor Cable.

USD/JPY still developing.

Reentered Euro trade.
First target area reached on Cable.
All open trades looking very nice.

This is why I like Break out trading.
When done correctly all your little tries and tests that cost you money get reimbursed by one win.

The tests are the cost of doing business.

I'm primarily a trend trader...
Today looks very rangy and not looking good for continuations. So I closed all positions at a small overall profit for the day...
I think I'm done.

In the future I want to hold my positions for days on end allowing my profits to grow like in the Millipede thread. For now I want to be happy with a ranging day that wasn't massive losses. I think I will now work on my position trading charts. I've been wanting to do that since the session started but was too busy trading and journalling.

Long the USD/CHF on the break of 1.0021. Monitoring first two m15 candles.

Looks like a better spot for the entry is the break above 1.0025. Hmm. Still waiting to see what happens.

Well I'm only a little sad I missed the entries on the Euro and Cable short, but The SLs were too large for my nerves so I stayed away. I don't like trades that make me nervous. Seems the best opportunities for those pairs was during asian sesseion which I missed.

They must be waiting for the news to break out of this Swissy bull blag pattern. At least its not a triangle... I hate those.

Hey, stop bad mouthing triangles, I love them !

Agree about break out trades. I probably lose more than 50% of my break outs but if you catch a good one in the London session it can continue in the same direction for the rest of the day.

Keep up the good work

Ooooookaaaaay... Something is finally happening with the Swissy.

Added to my longs at the break of 1.0025. And now I'm still in monitoring mode... lol.

Right now it feels like they are trying to convince someone to do something.
If they are trying to convince me to sell my Long position then I know I am on the right side.

Yeah that's what I thought. They wanted more longs so they were trying to convince someone to sell to them. Looks like they got what they wanted there at 1.0014.

Might not be enough profit in it for them though, and this may be a smaller move than I would like. I think it should go to 1.0050, and that will be my first target.

I just had a kind of cynical thought.
Salesman should be pretty good at trading forex.
The have a leg up on common guys because they already think in these terms."How can I get you to do what I want?"
If you can reverse engineer that thought process and apply it to the market then you can successfully trade.

Which brings me to a second thought.
That is the reason it is taking me so long to grasp trading... I'm not a salesman.

I just had this thought....