EURJPY Sandbox

Thought it was time to open a thread as a tool to document my thought process for trades, maybe get some constructive feedback, and possibly use it as an online trade diary to be able to look back on. I originally thought to post on existing EURJPY threads, but there appear to be certain restrictions and guidelines that seem a bit draconian, and I really have no desire to get in an online battle on an open forum.

My trading method is fairly simple, and I am not interested in "teaching" anything here - I am simply a trader trying to make more than I lose, as I believe most of us are.


With that being said, anyone trading the EURJPY is welcome to post trades and/or thoughts here if you so choose - the only thing I ask is to please be civil and constructive. I am always open to new ideas and viewpoints, so jump right in.

Thanks

Chart below for yesterday.I am not a big fan of Friday trading by any means, but if there is something there, then I will take it.

First trade was a short from 128.60, with an exit at 127.90. Took some heat on that trade of about 15+, but worked out, Second a long at 128.00 with exit at 128.40.

Looking forward to the beginning of the week, I am anticipating either an open at/near the 129.10, or an upswing to this area, with a retrace back to 128.60-128.30. This is my IDEA at this time, by no means a prediction - I will simply trade what comes as it happens.

IM

Ah, Sunday mornings.... that peaceful time where the kids are still asleep, everything is quiet, and I have some time to myself. So what do I do of course....open up the charts for the past week and continue my lifelong quest to discover the secret code to the market ( I think is was hidden by the Templars somewhere in Scotland ).

Actually, was thinking about this past week and how I spent some time trying to teach my girlfriend "trading". Needless to say, it was probably as productive as me trying to teach someone advanced concepts of Nuclear Propulsion, as I know about the same amount on both subjects. But going over various methods/theories/etc, drew up some lines to try to explain my (lacking) understanding of Elliott wave theory. Don't use it myself by any means, but did have a question for someone that does if they happen to be skimming through here....the 5 waves down on this chart are not valid as wave 3 has to be larger than 1 and 5, is that correct?

Just want to be able to explain it properly, and maybe have a different answer to her 10,000th "Why?" other than my stock answer of "Because!"

Thanks

Should be amusing for all.

Trade Explorer......

Wowwwww..... actually (kinda) got that one right.... for now at least.

Long from 128.87, stop loss 128.65.

Annnddd..... out at stop loss.

Next

Buy stop order at 128.77 - let's try this again. Stop 128.55

Stop moved to -2 at 128.75. Have to get to 129.10 to convince me this really wants to go up here.

Second long last night closed at -2, but went to sleep after opening a short and woke up to a +94 trade closed out, which is always a beautiful thing. Left some on the table, as it is still dropping, but no complaints for a no news day.

Recap for 06/23-06/24 (for myself)

1. First long 128.87 - Probably a bit premature, but followed my rules for entry, so can't complain there. However, should have seen the early reversal against it and been out at -12 instead of -22.

2. Second long 128.77 - Again, right entry, but should not have moved the stop to close to BE. Have to stop doing that unless I see a real reason for a reversal against. Had I not done that, should have been roughly a +13 trade as the exit would have been a reversal to the short.

3. First short at 128.90 - Good trade, only issue was sleep. Exit should have been around 127.65 for another 30.

A few execution/awareness mistakes that could have turned it from a +70 night to a +125, but overall, could be worse. Not anticipating anything else for me until tonight, but we will see.

so interested ...qoz I trade EJ too.....keep your posting bro ....

WOW - only have one thing to say.... remote trading on a wireless device - never again.

Not even going to go into the rest of today.... thank god it was only on my demo account.

On to better things....

No trades taken today.... looks like there was a short after London open that would have been good for 70+, but missed it. Need to find a way to program some alerts so I can get some sleep without missing these.

Took the day off after my mobile trading fiasco yesterday - something I learned the hard way is if you make mistakes, take dumb trades, etc, take a day off. Call it punishment or call it getting my head together, not sure which, but it has worked. Also came to a realization, which kind of surprised me. Shouldn't have, but figured I have been involved in trading long enough that it wouldn't apply to me. The realization was demo and live are two different animals, no matter how much I want to believe otherwise.

So, going to link a live account here instead of a demo. Won't be a lot of money by any means, but money is money, and the emotions that come with winning and losing something real are, as I mentioned, different than when it is play money.

So, everyone get a big bowl of popcorn and a cool refreshing beverage, sit back, relax, and watch the carnage.

Recap for 06/24 - 06/25

3 trade opportunities.... not going to go into excruciating detail as none were taken, but want to keep notes for myself.

1. Short trend trade, ran for about 70+.

2. Long wedge/consolidation trade, would still be running.

3. Long trend trade - actually, more of a second entry, but did not take this one either.

Will do - glad you are enjoying. Feel free to jump in if you like.

Missed all of that move down, but long here at 127.157 off of a possible double bottom.

....and market said "Noooooo"..... out with -21.

Nope, haven't given up or disappeared, just no trading. Always difficult to sit on the sidelines when there are pretty good moves happening, but honestly, haven't been able to see any type of structure until it is over. And I am not going to chase trades.

So, I will continue to sit tight, and wait.... opportunities will present themselves soon.