JillyB
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Hi there
As a total neophyte, I want to thank you all for threads like this. I am learning so much that it's like a master class.
I'm trading EURJPY and USDJPY and managed to catch the break that Jilly refers to this am.
I wish I could say it was skill or something like that, but it was dumb luck. I was trying do something, I can't remember what, and suddenly found my self on the wrong side of the trade. As it looked really sluggish I decided to ride it out, and early this morning I found myself on the right of +60. +60 which I messed up and dropped 20 of due to finger trouble.
I've been sitting on EURJPY and USDJPY long since this morning, determined to turn it into something. I thought that there was a close correspondence between the two, but they have been doing slightly different things. I find myself on the right side of the USDJPY trend (should rather be called a crawl) and on the wrong side of the EURJPY, although both were entered almost simultaneously.
According to my trading plan, I suppose I should have dumped the EURJPY several times, but I keep on thinking that the USDJPY is working, so it'll come back. Most of the time It's just shaving the underside of my entry, so I'm keeping it for now.
Once again, thanks to you all, I've got a long way to go, but you're helping immensely, specially with the annotated trades.
rgds
Hi Coda,
Welcome to the thread. Glad you made a nice profit on the EurJpy this morning - unlike myself
In being in this trade I missed the break of the previous high on the UsdJpy. I recall looking at it just before 11.00am and it wasn't doing much and I wondered if it was going to be another reversal - however it didn't and continued up to fall shy of the previous high at 3pm yesterday. There would have been a nice +40 pip profit here for taking the trade at the break/confirmation of break of reistance.