EUR/JPY -Short, and short again

This ended up a losing set of trades overall. 2 out of 3 trades were closed for a profit.

1. I was looking at a 30 minute chart and shorted. Price moved higher however I didn’t want to exit and moved my stop up. It kept moving higher and I decided

2. a sell limit might work. The trouble is I took a big stop right before the sell limit level was reached. That wasn’t necessary. As priced moved lower I exited part of the position for a profit.

3.  The remaining position was closed for a small profit. This was approaching Fed talk, and the euro was strengthening.

The same evening I had 2 profitable “micro” scalps on NZD/USD.

The big stop destroyed all of that. (4 out of 5 trades were profitable) One reason was hesitation in simply getting out quick and re-assessing! The longer term view had me wanting to give it more room.

Who has been there?  I’m there sometimes and journaling it  🙂 

 

eurjpy615-2eurjpy615

 

 

 

 

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s