Zappa's Journal

You love this pair, don't you?

Lately, I guess. Didn't like it too much when it decided to waste my time in that pullback that lasted 2 weeks!

They are all the same, though. Sometimes a certain pair is giving me a clearer picture. Taking this latest short in AUDCAD seemed like a great bet.

Still got that 1:1 short trade in AUDCAD. Just opened a separate trade with much less risk at play. Same pair, same direction, only this one is a 1:20 trade.

Great R:R. What is your view on G/U?

Momentum is down, but I think we might see some consolidation foe awhile. I'd stay out for mow.

This AUDCAD short just ain't working out like expected. I just got out early.

Buying here. Should move soon if it's going up, I would think.

Getting out of this USDCAD long early too. Going to scalp rest of week.

Here's a scalp I'm taking. Short.

I've been taking quite a few of these small trades lately (usually not time to post them) and I'm doing really good with them. They are not exactly 1:1 trades since the spread plays a bigger factor when distances are so small, but I've been winning a lot of them. Sometimes I only go for a target that = .75 X Risk. Some of them are just gimmies. This AUDUSD short I just took looks like a gimmie, though there are even easier ones.

I kind of like the smaller trades since I don't have too wait around to find out if I'm right or wrong for very long. It fits my impatient personality, which will never change I'm afraid to say.

The problem is these small trades are more difficult due to the increase in role of the spread. I need to stay away from big news announcements or the disadvantage will be too much. The other thing that's easy to do is overtrade and revenge trade. When I win several in a row, I start to become less picky with the set-up and take trades I should pass up on. If I take a few dumb trades, then I can not look to quickly get it back. I need to do the opposite, and be more selective with the set-up. That has killed me in the past when I was primarily scalping, so much so that I swore off the smaller trades and focused on the bigger moves.

It can be hard to stick to small trades when I see an "obvious" trade in a higher TF. I am so sick of waiting around for big trades to complete though. If I can continue winning the smaller trades, I'd much rather trade that way. I am doing good lately with them, but it can turn around quickly if I'm not extremely careful.

Here's a USDJPY long I just entered

These really aren't trades I will post since by the time I get in here and post it is usually too late, but right now it is slow.

The main thing I do is first find a logical stop. Next measure the distance to the targets from current price. There needs to be at least some decent volume. Very low volume is very hard to predict, and is also very boring.

Also, I have no problem getting out early with a small loss if trade doesn't look so nice anymore. Its better than a bigger loss, though it does suck when it goes to the target after exiting the trade. Just gotta do the best I can do and trust in my skills.

Here's another, though I'm not taking due to already being in a trade. Short.

Going long.

Long again.

Think I'll go for the 1:1 target. Looks like a gimme at this point.

Back to my old friend/foe AUDCAD. Short.

See if I can make it six in a row in here.

Hi, you just love that pair
Why not shorting A/U? It is high got some place to go down. Almost the same setup I guess.

I like the stop in ADUCAD (chart 1) better than the two options in AUDUSD (chart 2).

The bottom made in AUDCAD today doesn't look important, just a place where some profits were taken. It doesn't look like it will hold for long.

And just because AUDCAD goes down, does not mean AUDUSD will also go down. What if it is strength in CAD that pushes AUDCAD down?