Hundreds of millions of traders are scalping
Good morning, everyone.
I have just replied to all the messages I received last night, so if you haven’t received a reply, please let me know.
This week for USD/JPY, from the daily chart it was a week that moved in a range.
Markets expand by repeating ranges and trends.
This holds true whether you’re looking at a one-minute chart or a daily chart; the way it looks is the same.
Next week features the highly important events: US CPI, BOE Governor’s press conference, FOMC, Australian employment statistics, ECB, and the BOJ in our country, and trading opportunities will increase.
In particular, the Bank of Japan’s policy interest rate announcement and the Governor’s press conference on Friday the 16th are expected to attract attention.
The final Friday is a bit ominous, isn’t it?
On Friday the 16th, from the start of the London stock market to two hours after the London Fix, you may not be able to let your guard down.
I’m looking forward to seeing whether the current range will be broken this week.
Today, like yesterday, I would like to write about “verification.”
Nowadays, even amateur surfers like me can film their surfing with a smartphone, take it home, and verify it at home.
Times have advanced, and smartphone apps and smartwatches are matched by GPS to continuously record you.
And by reviewing that video, you become significantly better.
If you’ve surfed or tried it, you’ll understand that I am a regular-stanced person, so I often take off toward the left.
After taking off, at home you can verify whether you dropped quickly, what your stance is, whether you’re gaining speed, the line of sight and how you use your upper body during a cutback, and then try it again on your next wave, record it, and verify again.
Unlike golf, you can’t get better at a driving range, so surfing is really tough.
But like the market, because you love it and it’s fun, it isn’t a hardship at all.
The same goes for trading as well.
I especially watch the moments where I cut losses repeatedly.
I use MT4 for verification.
I’ve known MT4 since old times, so I don’t know other tools.
If you’re already using MT4, you’ll understand that MT4 can run even on holidays.
This is fairly convenient to use.
Also, for those who have recently started trading or just began using MT4, this is a feature I’d like you to use in preparation for the future.
There are many guides on how to use and set it up, so I think the quickest way is to search and look at various sources.
Anyway, I’ll leave one link here, so if you’ve never used this feature, please try it.
In discretionary trading, price movement is very important.
When you talk about price movement, people mention price action, wicks, body of the candle, and a lot of things, but in my view, what matters more is what kind of movement occurs when you’re aiming for a specific moment.
For example, the multiple lines drawn by a billionaire trader’s scalping can be seen as entry, take profit, and stop-loss points.
Whether the entry ends up as correct or incorrect, you can build a scenario for what you’re going to do next, so you have a much more advantageous position than just blindly entering the market.
By viewing it that way, you can stay conscious when you enter the next market.
Like waves at sea, the same wave may not come twice, but you can make some reasonable predictions.
In terms of waves, sometimes the shoulder is thick and stretched, only to collapse all at once near you,
and other times the face remains and continues to bulge.
You predict to a certain extent and start paddling, but depending on the terrain and various circumstances, you may not ride exactly as you imagined.
However, since you’ve anticipated it, you can redo it, and it helps prevent accidents.
I think the same goes for the market.
If you verify a lot, you can prepare for many scenarios when needed.
This weekend also seems to have questionable weather, so for those with time, trying it out might be worthwhile.
Monday I will be out for a while due to errands, so replies to messages received tomorrow and Monday will be in the Monday evening or later.
Please understand.
Well then, everyone, please have a nice weekend.
Scalping that billionaire traders are doing
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https://www.gogojungle.co.jp/tools/indicators/42559
Stress-free irregular hedging (well, you won’t lose often)
Unconventional hedging in FX
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https://www.gogojungle.co.jp/tools/ebooks/19435