Entered, slept, woke up to perfect take-profit +75 pips [GBP/JPY]

Good morning.

Last night, I didn’t enter at the shorting scenario of the pound/yen.

The reason I didn’t enter is as I wrote yesterday.

I recorded and prepared, but it turned into a no-trade video. Do you want me to upload the no-trade video?

We received a report from someone who was able to short the pound/yen. Thank you.

Entered, slept, and woke up to a perfect take-profit

Let’s look at the part where this person traded on the chart. It seems they took 75 pips.

Aim to sell from blue line 146.653 to 145.864I posted the scenario here in advance. ⇒20190307 (Thu) Short-term Scenario ~ Night Session

If I had entered, I think I would have set a stop to break-even after some profit and then slept, so the move in the middle would have caused the break-even to be hit.

Moving the stop to break-even has both pros and cons.

If you sleep with the stop at break-even, you may use a trailing setting. It’s set to close the position if it reverses 20 pips.

Then, since it extended 64 pips and then moved 20 pips against, you’ve secured 44 pips.

There is no single correct choice for moving the stop or trailing; each has its own merits and drawbacks, so I think the best is a method you understand and have tested in the past and find easy to use.

Also this.

“Learn the mathematical formula and solve it on the actual chart”

Really true!

So anyone can draw the same scenario as me.

You only need to memorize the formula.

Recently on the member blog, I posed a problem. “Question: What’s different about this chart?”

I received answers from everyone, so I plan to introduce them going forward. Everyone can do it naturally, so it’s become enjoyable to watch.

When you look at the chart, everyone can recognize the environment the same way I do and描き drawn a scenario.

There’s a logical basis and a template for how to draw it, so anyone can do it.

If you can recognize the environment, for example, there was a big drop in USD/JPY on January 3 this year, but around that time you would absolutely not want to buy.

The difference is knowing how to perform environmental recognition and how to draw the scenario or not.

That’s all there is to it.

Market sense or experience? That doesn’t matter.

It’s something that can be explained logically, so environmental recognition and scenario planning are something anyone can do.

Then, to trade, of course you need lots of practice and experience.

Therefore, even if I post environmental recognition and scenarios in advance, that alone does not guarantee easy victory.

The prerequisites for trading, environmental recognition and scenario, anyone can do, so just that alone can prevent you from taking a large incorrect position.

For example, with yesterday’s pound/yen movement, there was no place to buy. Only places to sell.

With practice and experience to improve accuracy, it isn’t impossible to draw a scenario with precision like “Aim to sell from blue line 146.653 to 145.864.”

Looking back, it sounds fake, but I really did post in advance. ⇒20190307 (Thu) Short-term Scenario ~ Night Session

To win at trading, effort is necessary.

All the winning traders I know work hard. There are no exceptions.

And, be careful to put in the “right effort.”

In the world of markets, there is a lot of misinformation.

If you put in the wrong kind of effort, no matter how hard you work, you won’t be able to win.

I hope everyone moves in the right direction with the right information and the right effort.

Trading videos are uploaded:Trade that turned 100,000 yen into 1,000,000 yen

※ FX member blog subscriptions are only via card payment.

If you prefer non-card payment, please contact me via email or Twitter DM.