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NZD/JPY, USD/JPY

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Simple and profitable trading style

  • #241
  • Jan 4, 2017 12:47am Jan 4, 2017 12:47am
hi 9ja, thanks for your system just want to ask your trade in eur/aud long, is it still running?
  • #242
  • Jan 4, 2017 1:20am Jan 4, 2017 1:20am
Please, where is your SL for EUR / AUD?
Thx.
  • #243
  • Jan 4, 2017 1:25am Jan 4, 2017 1:25am
Quoting dugie
hi 9ja, thanks for your system just want to ask your trade in eur/aud long, is it still running?
Yea, am still on it. That's the reason I always take the weekly candle that combine to form the setup for my SL. Since the SL is based on the weekly candle I always take small lot size- 0.01. This is to minimize the risk when SL is triggered. Here are the daily and the weekly charts.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euraud-d1-fx-choice-limitedau1.png Size: 41 KB
Click to Enlarge Name: euraud-w1-fx-choice-limitedau2.png Size: 41 KB
Make all mistakes in demo and rain in pips in live account
  • #244
  • Jan 4, 2017 1:26am Jan 4, 2017 1:26am
If it's serious to go against me, it should trigger the weekly SL.
Make all mistakes in demo and rain in pips in live account
  • #245
  • Jan 4, 2017 1:30am Jan 4, 2017 1:30am
The setup is trapped around the middle band. When setup gets to middle sometimes create problems and the pairs fools around it.
Make all mistakes in demo and rain in pips in live account
  • #246
  • Jan 4, 2017 1:34am Jan 4, 2017 1:34am
ok, thanks for your clarification, i just worried a bit because its already 3 days that heading to south..
  • #247
  • Jan 4, 2017 1:37am Jan 4, 2017 1:37am
Is the same strategy. Sometimes the pair moves uninterrupted, like CHFJPY, CADJPY. Some retraced before moving again, like NZDJPY ( this triggered my first position and I got in again when the candles rejected the lower band and it's still running). That's Forex uncertainty for us. That's the reason we need to manage our risk. Don't put great part of your capital in any setup, however strong it is. Having the opportunity to trade another day should be in our mind.
Make all mistakes in demo and rain in pips in live account
  • #248
  • Jan 4, 2017 1:43am Jan 4, 2017 1:43am
When SL is based on the daily candlestick I increase lot size to either 0.02 and 0.03. My CADCHF SL was based on the daily candle. So I used 0.02 lot
Attached Image (click to enlarge)
Click to Enlarge Name: cadchf-d1-ifcmarkets-corp77.png Size: 37 KB
Make all mistakes in demo and rain in pips in live account
  • #249
  • Jan 4, 2017 1:48am Jan 4, 2017 1:48am
Don't feel too bad when your SL is triggered. Trust your system. Every system has it's good and bad times. Stick with it even in bad times. There was a successful trader that had 48 winning positions. Later he had 28 straight losses.
Make all mistakes in demo and rain in pips in live account
  • #250
  • Jan 4, 2017 1:57am Jan 4, 2017 1:57am
im also 51 pips positive in my cad/chf trade, thanks
  • #251
  • Jan 4, 2017 2:00am Jan 4, 2017 2:00am
Quoting dugie
im also 51 pips positive in my cad/chf trade, thanks
Good luck
Make all mistakes in demo and rain in pips in live account
  • #252
  • Jan 4, 2017 2:23am Jan 4, 2017 2:23am
Thanks for the reply and pictures.
  • #253
  • Edited 3:02am Jan 4, 2017 2:27am | Edited 3:02am
Quoting moonman
Thanks for the reply and pictures.
Thanks
Make all mistakes in demo and rain in pips in live account
  • #254
  • Edited 2:42am Jan 4, 2017 2:29am | Edited 2:42am
Quoting moonman
Please, where is your SL for EUR / AUD? Thx.
Sorry I did not get this when it came. EURAUD is late to get in now. Check the second to the last chart I shared. SL was below the weekly bullish candle. Check it
Make all mistakes in demo and rain in pips in live account
  • #255
  • Jan 4, 2017 3:00am Jan 4, 2017 3:00am
Quoting dugie
ok, thanks for your clarification, i just worried a bit because its already 3 days that heading to south..
It's part of learning stage. I have been in a position that all the candles of the week went against the position, before it obeyed. This is what we will continue to learn. I would say keep to risk management.
Make all mistakes in demo and rain in pips in live account
  • #256
  • Jan 4, 2017 5:33am Jan 4, 2017 5:33am
I just decided to check what the monthly was doing in CADCHF, since my entry was purely based on daily. I observe that there was already a strong move by November candlestick. It was closed above the middle. Here is the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: cadchf-mn1-ifcmarkets-corpccc.png Size: 34 KB
Make all mistakes in demo and rain in pips in live account
  • #257
  • Jan 4, 2017 5:37am Jan 4, 2017 5:37am
What made the November candle so strong, in addition to being bullish body, is the fact that it has a long lower shadow supported by lower band breakout. The movement may not be surprised, now that we knew what monthly already had in store for us.
Make all mistakes in demo and rain in pips in live account
  • #258
  • Jan 4, 2017 5:41am Jan 4, 2017 5:41am
its also approaching to the strong resistance in monthly and weekly consolidation hoping to breakout going upward
  • #259
  • Jan 4, 2017 5:45am Jan 4, 2017 5:45am
Quoting dugie
its also approaching to the strong resistance in monthly and weekly consolidation hoping to breakout going upward
It has the high probability to break above. The monthly too strong. S/R are never a concrete wall
Make all mistakes in demo and rain in pips in live account
  • #260
  • Jan 4, 2017 5:48am Jan 4, 2017 5:48am
The most "unfaithful" pairs to this strategy are the GBP pairs. Uncertainty too high.
Make all mistakes in demo and rain in pips in live account
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