USD/JPY Discussion

Capped in 26 pips range *sigh*

Something is huge about to happen to XXX/USD probably G/U and/or E/U

Scalping G/U almost 80 pips so far

EU support here at 3625/30, looks like they are slowly eating at the bids here, will look for shorts if they take it out...just scalps today...

I am not sure either chewing the bids or offers. My personal opinion is on the upside for XXX/USD.

What normally happens when U/J was capped in small range there're will be huge move for XXX/USD.

well I dont care which way me move...just looking for a play for 20-25 pips right now..

Very modest

G/U is a good scalp

i was looking to buy GU lower, but no mas...just waiting in there now, better chance of an EU or UJ play now...

Trying to make pips in this market is like milking bulls.

try a short scalp at 102.45, risk 102.51, tp 102.21...

You have had some very good advice/help from Ken A and smash1820 and others, I hope you manage to get out of this with your skin.

Now a couple of observations on what you did, all with the best of intentions on my part you understand....
The presumption I make here is that the list of trades in your Explorer is in time order, i.e. the order you placed the trades.
edit: looks like they could be in reverse time order.....

1) you have a buy @ 102.53 followed by another buy @ 102.58; when you placed that second buy you should have protected your account in one of two ways. The most common form of protection is to place a stop on the first trade, the stop value would typically be at break-even plus 1-pip, in other words just enough to cover the trading costs, and to allow for a bit of slippage in the close if your stop gets hit. However the amount is not that important when you consider that we are talking about a difference of a couple of dollars. The second form of protection is to use less leverage, as follows....

2) In my humble opinion, and at least one other person said the same, you are over-leveraging your trades. Lots of people do it, even I did it in the past. When you start to play with serious money you should pay more attention to your trade leverage. We are talking about survival here. When you have a $5k account you should be trading one mini-lot, that is $10k. That is a 2:1 trade leverage, and you can open as many trades as you feel appropriate on that basis subject to margin availability etc. Do not let your total exposure get beyond 20:1 unless you have the support of some profitable trades with stops applied that will protect you from loss. Also if you then get into a mess like this you can shut everything and go and have a beer. It will cost you a few dollars and a lot of pride, and you can analyse your own behaviour to try and learn from it.

3) Get used to losing. If you are right half the time then you are wrong the other half of the time. The sensible thing to do is close out your 'wrong' trades. When you do that there is an associated loss. So your trade plan must be either that you make more pips on your winners than on your losers, or that you trading efficiency is right more often than wrong - and only time will tell you that.

Good luck on your journey. It is a long hard road.

Thank you Mr Carney you gave me the best G/U scalp

U/J can't go down due to being pushed by G/J

Damn, I need it to go down a little bit to cover my floating Red short positions from yesterday.....

Not sure the move has been capped in tight range + rumor $1 billion options 102.50 10:00 EST fix

Yesterday candle worries my bearish bias, I don't think UJ could take out yesterday's low today, but who knows? Anything can happens

missed by inches, cxld...will look somewhere else..

I have subscribed for your posts already quite a long time ago and so far I cannot remember any prediction from you where you have been wrong. Respect, Ken.

keeping an eye on 102.51/55 now, a push through there, and I'll look for a long scalp on a pullback...

pay 102.46, risk 102.38...tp 102.70

Hope it can break Fibo 38% level. It looks like tough.

it seems like 102.62x is still the r1 line

agree