GBPJPY 2nd trade taken on 24th Sept

I saw a few inside bars forming, basically that means consolidation.
So I was able to position myself for this retracement.
It didn’t go quite as far as I would have liked tho, was targetting the 147.50 area which is just under the 50% retracement level of today’s move.
Yet another 0.5R trade.
I really need to change something to improve my profitability.

Objective: increase profitability, preferably allow riding of trends.
A few things which I could change to improve profitability
1) my entries
2) how much partial profit should I take?
3) don’t take partial profits and just aim for 1:1 or 2:1 trades?
4) don’t take partial profits and just trail stops

Will need to do some serious thinking..when I have the time. =/

EURJPY trade taken 10th Aug

This is what happens when you jump into a trade immediate after climbing out of bed.
I had a 2hr nap, it was a boring afternoon.. climbed outta bed to check things out in the market.

Eurjpy made a strange move on friday, I’m looking at the 15min chart and I see a consolidation with 137.80 as support which was broken about an hour ago.
Also on the hourly chart, there was an upward break from the flat top triangle on friday, today it’s testing the previous resistance area level and it seems to be failing, first indication being this 15min break below 137.80

I decided to take the break at 137.75 with a 45pips stop at 138.20, targetting the ds1 at 136.85, so it’s about a 2:1 risk/reward.

However, after entering, I realised that I’m trading into the fibo 50% retracement level of friday’s move, and the moving averages are generally sloping upwards, so I’m also going against the trend.
Plus the very next 15min candle showed price jumping back up above the 137.80

The odds are not fantastically in my favour now.
So I’m gonna keep a close watch on this trade. If 137.50 goes, I’ll move my stoploss down quickly.

STI 2nd August

Here’s a quick look at the STI.
I think we’re approaching a significant level, explainations on the charts.
A lot of NR results once again, there’s definitely gonna be a big move coming soon.
Just a matter of which direction.
Will elaborate on the NR picks in the next post.

GBPJPY

A little triangle which formed this morning, clearer on the 5min charts.

Explainations on the chart.

I missed this long entry 1-2-3 because I was trying to include the picture for the last post..=.=

My first blog, so I’m still pretty lost and overwhelmed by trying to tie everything together.

Anyway price is already up at the 50% retracement level.