Short EUR/JPY

OVVO:

Could update us on your 18 lot position, and the prediction of your model? I am raising this not in the sense of who wins and who does not (I think we both can win depending on entry time and exit as prices have shown), but just to get an update on your views. I did not have yet time to follow up on the matter we exchanged about on the PM. Thanks.

 

Sam0182:

I looked at your technical analysis, and it is very sound. I felt maybe (a real maybe) you may want to work more on money/trade management in terms of entering, stops, profits, etc. I have sensed (after reading about some of your current position) that you can do much better if you were to review these things, but please view this as just a maybe and definitely in a positive way. I truly think you are a great trader, and if you want to improve you profits you may want to work on that part. I personnally keep thinking about it most of the time, and thought to share this with you. But forgive me if I am wrong in my interpretation of your position.

 

Thanks for the feedback!

I agree with the work on trade management. I'd like to think that I have the money management pretty squared away as I trade very small but I'm open to your comments. My guess is the doubled second limit order drew some alarm?

But yes, entry/exit points certainly are my weak spot, among other things! I often am afraid to miss the boat and will get in early with tiny positions, then place a "normal" size limit order at the price I would actually like to get in at, etc.

Anyway, please keep the input coming! I appreciate it.

And with that being said...

I'm out of the EUR/JPY short with +30pips. I have a limit sell set at the upper end of the range @ 164.60ish. I will try and be up for the EUR news release tonight and will cut the trade out manually if the news sends EUR through the resist. Otherwise, my S/L is set @ 165.4...T/P targeting low 163's & high 162's.

Good evening!

 

Good thread, risk free nice counter trend trading. Back to lurker status.

 

Haven't read the entire thread but am I correct in thinking riskfreetrading that you've had a short bias on the EURJPY for the past month?

 

Just added a 3rd short @ 164.34.

Average entry: 164.23.
1st target: ~163.80


btw, it seems to me that it will be a USD-long day today. Have a nice one.

 

Support expected @ 163.84.
I will cover shorts there and switch to long, if we bounce.

 

This is broken.
However, the way things look right now, I will still cover and get long
on the first bounce.

 

Sell off goes on. I widened my stop;
next target (on the daily) @ around 162.25.

 

Sorry, We call a top several day in advance, it hard to tell how it will form until it decides to finish the formation.