EURJPY Three Drive!

2. Mai 2023

Either I'm really smart or really not so smart taking this trade. Entry @150.223.

2. Mai 2023

Trade ist aktiv

Plan remains the same just added an S/R level that caught my eye for a possible retest.

4. Mai 2023

Trade ist aktiv

Closed half position @147.966

4. Mai 2023

Trade ist aktiv

Waiting for daily close before moving stop to BE.

4. Mai 2023

Trade ist aktiv

Moved stop to BE. That’s a W.

8. Mai 2023

Trade wurde manuell geschlossen

All out @148.650. May consider re-entering.

8. Mai 2023

Trade ist aktiv

Re-entered entry @148.514

8. Mai 2023

Anmerkung

Sentiment currently not in my favor, but I trade price action first and foremost. We’ll see how things play out.

9. Mai 2023

Anmerkung

My risk management:
Margin 30% max of account.

I Use the best indicator in the world for my stop loss placement. The ATR (Average True Range). Take the previous daily candle ATR times 1.5. If you’re long subtract those numbers with your entry and if you’re short add those numbers with your entry. You can also use those numbers for taking partials and trailing your stop.

I usually take half off when taking partials. Helps keeps things in check psychologically.

I don’t move my stop to break even until I get at least a daily candle close above (long) or below (short) my take partials level. Once this happens for me that’s a winning trade. I took money out the market and I’m sitting on zero risk for that trade.

I’m a swing/position trader so keep that in mind.