Yesterday I overhyped and had a string of bad trades
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Good morning, everyone.
The mindset and skills needed for trading are
“to adapt flexibly and view the chart from multiple angles.”
This is written on the page of the billion-dollar trader’s scalping product as well, but it is the most important thing when trading.
Yesterday, I wasn’t able to do this at all.
The reason is
・Longs at high prices continued
・It went up to 152 mid
I had this image too strongly.
As a result, I waited for one reversal moment to trade, but after that, I expected volatility and took positions aiming for a breakout, and almost everything was wiped out.
Tokyo range → London range → NY range
Next, Tokyo, this morning, began to move.
I’ve written about this several times in Investing Navigator, and as you can see, Tokyo was explosive this morning.
Break of NY high to go long and netted 10 pips.
A profit of a little over 100,000 yen, but still far from yesterday’s 60 loss.
Today looks like a day to recover.
Yesterday’s USD/JPY 1-hour & 1-minute charts
I pinned a long at the red circle and closed at the red star
Up to here was fine.
After that, only a breakout direction with the yellow horizontal line and blue-red arrows, and almost all were wiped out
Well, there were some take-profit positions, but in the end, a 60 loss.
If you chose the breakout over aiming for a reversal, that was a loss.
In the end, it seems that positions from reversals are more advantageous than from trends or ranges.
So what will today bring...?
As yesterday, there are no US economic indicators released.
Follow the stock market...?
Above is 15323 as the current top for now
Will I chase up to the 152 mid?
If today’s one-pip move starts from 152, the top could be 153 yen...
I want more volatility
For the Nikkei 5-minute Billionaire Trader chart, the initial goal is 47,350 yen.
The upside is 49,687 yen
As a trader, I recommend the following three products.
The New Billionaire Trader’s Scalping with Volume
FX Trading: Not Your Average Hedging
Explosive Birth: Turning into a Winning Trader
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