#001 New DCA USDJPY Short Range
Updated
Shorting USDJPY.
I am restarting my count.
I think I have to trade less and be specific if I am trading ranging or trending market.
Also be willing to accept the fact that price might not be working in my intended idea and to close the trade out for a loss instead of dca-ing even more.
But also, to not multiply my positions as much as I can and to keep my multipliers reasonable.
DCA less and at more prominent areas of value, focus on Hourly Time Frame and above because it provides a higher pip TP than 15 minutes time frame where I take on average 40cents as compared to now I am taking 1$ or so per position while risking 0.01cents SGD.
1345SGT 10122024
21 DAYS TO 2025.
Also, stochastic 20,1,1 and swings is a very good tool to tell if price is trending or ranging.
I am restarting my count.
I think I have to trade less and be specific if I am trading ranging or trending market.
Also be willing to accept the fact that price might not be working in my intended idea and to close the trade out for a loss instead of dca-ing even more.
But also, to not multiply my positions as much as I can and to keep my multipliers reasonable.
DCA less and at more prominent areas of value, focus on Hourly Time Frame and above because it provides a higher pip TP than 15 minutes time frame where I take on average 40cents as compared to now I am taking 1$ or so per position while risking 0.01cents SGD.
1345SGT 10122024
21 DAYS TO 2025.
Also, stochastic 20,1,1 and swings is a very good tool to tell if price is trending or ranging.
Trade active
126.8pips TP
1350SGT 10122024
Note
Added a sell limit where I feel that price is likely to bounce off from.
2115SGT 10122024
Note
Closed all three positions for 100 units each at a loss of,
-2.27$ SGD
-1.56$ SGD
-0.07$ SGD
Totalling -3.90$ LOSS.
However, this is not done yet, I have decided based on my experience, to reverse the positions.
I have entered on one position of 300 units via market buy.
The details could be viewed in the screenshot below.
This is rather risky but I think it will work out.
Shall see.
0029SGT 14122024
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