GBP/JPY this week

[dmedin]

Went long twice this week and lost both times for a pretty hefty loss (over £200).

Need to learn some lessons.  First of all, the price action pretty much mirrored GBP/USD, and the losses would have been less if I'd just traded GBP/USD.  So, there's the first lesson. 

 

Edited August 21, 2020 by dmedin

[dmedin]

Next lesson, I entered too late.  Here is when I should have gone long.  The position would still be open (using risk:reward of 1:2), could be taken out soon but losses would be less.

 

Edited August 21, 2020 by dmedin

[dmedin]

Still open, but looks unhealthy AF.

Overtrading, bad timing and breaking your rules leads to losses nearly 100% of the time: so find something else to do during the day.  God only knows what though.  Selling TA courses maybe?

[Caseynotes]

[dmedin]

My results so far suggest using 1:1.5 instead of 1:2 risk-to-reward yields far better results on four-hour forex  

[Caseynotes]

[dmedin]

3 hours ago, Caseynotes said:

 

Where did you get that thingy from, Tom 🤓

[dmedin]

Ready for an upthrust, Eileen? 🤓