My GBP/JPY Live scalp trades on 15 mins.
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Thread: My GBP/JPY Live scalp trades on 15 mins.

  1. #1
    Hi traders

    I have been a silent admirer of several great traders in this forum and truly appreciate the effort they have shown in coaching the newbies. I've been demo'ing for several months and finally decided to go. My scalp trades will be based on 15 min graphs and will only be about gbp/jpy. This monster has made millions for a few and busted millions of accounts only by it's volatality. So I've decided to go into the arena as well to attempt to take the bull by it's horns.

    Anyhow live trades will start from monday onwards. Capital is20,000 . Lets see how it goes.

    I expect I profit.

  2. #2
    Extended 226.60 tp 227.11 ( 2 tons)
    sL 226.00

    reason : 15 mins 100 sma is holding and 1 sma has spanned the 5 sma low

  3. #3
    Hi Stringfx,

    I wish you all the best in your journey and expect those pips come rolling. . .good fortune

  4. #4

  5. #5
    I think your stop was struck just await another entry with the fad, no issue.

  6. #6
    Ok a start . So did not trade the entire day.waiting for a new opportunity.
    60 pips down .

  7. #7
    Sold gj 225.00 at the brand new 15 min candle coz candle opened below 50 sma

    sl 225.57 100 ema and tp 224.24 low of the day. 2 lots trade. Need to recover this time.

  8. #8
    How did that 1 workout for you?

  9. #9
    Hi OROMIS... yes the title says everything. SL hit again ...

    purchased GJ at market cost . 224.08 SL 100 pips 3 lots ... TP 225.10

    LOst a lot . . GOsh . . The equity down to 17800 ish.

    Aspire to recover with this deal.

    Support is from a 4 hr macd divergence and my signs are providing me a bullish signal. Momentum on 4 hr and daily is bullish. Usually it must yeild 200 pips minimal, but I will be pleased with a 100. Maybe after I cross 75 pips, I will alter my TP as time advances and deliver up my sl. It succeed. Fundamentals are encouraging this transaction.


  10. #10
    Hey stringfx

    I want you all the best with your journal and hope you find much gain and little loss.

    I believe you're coming from the blocks a little powerful however. Firstly, you shouldn't ever be suprised at how much you've lost (because you were). You should have calculated your acceptable reduction before you entered the transaction and then either

    (a.) Size your place to fit your stoploss, or
    (b.) Set your stoploss to meet your place size

    I suggest alternative a. as this lets the stoploss to be put utilizing s/r, PPs etc rather than using a random point on the graph chosen purely because of desired risk.

    Secondly, IMHO your rankings are way to big. You have risked more than 5% of your account balance on each of your first two trades and, even if I understand you properly, you've just risked around $3000 (3 total lots) on your third transaction, a whopping 17% on account balance.

    Your number one priority as a trader is funding protection. As tools are into a tradesman, your capital is for you - . When deciding how much you will risk on every transaction, you need to consider a worst case senario. This will differ for every plan. If your plan has a high win % and very low r:r afterward 5 percent may be acceptable since you are not likely to get a string of more than 5 or 10 losers in a row, but in case you've got a high r:r but a low win percent, you are going to want to risk substantially less than this. Think about how many losses you're able to defy in a row if you're currently risking 17% per transaction, very soon you will be at unrecoverable amounts.

    Obviously, if $20000 isn't anything to youpersonally, and you also would like to treat the account as a top risk/gambling account then go to it and dismiss everthing I have just said. But if not, then think about how much you're risking per transaction, hard, I would hate to see you lose your account in a couple of days.

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