#001 USDJPY DCA
Updated
Entered when price came back to the 60sma, and confluence with the stochastics 20,1,1.
I will be adding into my losers when price comes back to the pre-marked levels as shown in the chart.
Every pip is 0.01cents, and I do not set any stop loss.
I am testing this out on my other fool around account but I hope I do not blow it.
Warning regarding News Days
Do not trade until the news has been released and the market has calmed down, reason being, before news release, price tends to go flat and you will just be wasting your time and energy hoping for price to move in your intended direction or against your intended direction, therefore, exerting your mental capital more than neccesary.
Secondly, especially when trading on the minutes time frame, when news get released, there's a high possibility that volatility will take you out. Or, if you do not set any stop loss, it would bring you to the opposite side of the room for over 100pips (for example) and you have to crawl your way back to at least breakeven.
I will be adding into my losers when price comes back to the pre-marked levels as shown in the chart.
Every pip is 0.01cents, and I do not set any stop loss.
I am testing this out on my other fool around account but I hope I do not blow it.
Warning regarding News Days
Do not trade until the news has been released and the market has calmed down, reason being, before news release, price tends to go flat and you will just be wasting your time and energy hoping for price to move in your intended direction or against your intended direction, therefore, exerting your mental capital more than neccesary.
Secondly, especially when trading on the minutes time frame, when news get released, there's a high possibility that volatility will take you out. Or, if you do not set any stop loss, it would bring you to the opposite side of the room for over 100pips (for example) and you have to crawl your way back to at least breakeven.
Trade active
There's news later. I am not sure what to feel about it. But either way, we shall find out. I think this strategy works better if I were to trade it on the Hourly and above, however, I like the 15 Minutes Time Frame, and I am going to find out.Note
Adjusted the TP to 28pips from the previous 34 pips or 38 pips (can't remember) in anticipation of news release. I could have exited now for a really small profit but i want to experience what could happen when CPI comes out, and what I would feel and how I would adjust to it or leave things be.
2119SGT 14112024
Note
Add : new TP at 156.214Note
CPI news and unemployment claims news released but the market didn't do much. And I decided to shift the TP back to its original price level.
2134SGT 14112024
Note
I think I should be adding my lot sizes in uniformly for all my entries. One of my sell limit didn't get triggered because I have exceeded the margin I have while using no stop loss.
0032SGT 15112024
Trade closed manually
I manually closed my position yesterday before bed, because I realised that I have been sizing my positions wrongly. I think I should have input the units as 100 and that it, for 1/10 of 0.01 lot.
But, the stop loss column which I unchecked shown that my position size is 0.00cents so, I increased my lot size randomly until I saw that it was 0.01cents.
I think it might not be neccessary since I am not trading with a stop loss which requires me to evenly distribute my fixed risk among the stop losses pips.
Anyway, disregarding the manual exit, the forward test for #001 is a success, and we got out for 34cents or, 34pips, I think, that's how it works.
1007SGT 15112024
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