Thread: I lose 40 pips and win 6 to 10 pips...

I'm trading (trying scalping) on GBP/JPY pare.

When I lose, I lose about 40 pips, and once I win, I get only 6 to 10 pips. Since I'm new to Foreign Exchange, I can not anticipate the way the important news/annoucements will impact the trend.

How can you know or find out, if the trend will be bullish or bearish based on those important announcements (in this case GBP/JPY)? I'm reading the calender and articles, but still I can not know what they're saying properly.

Do you know any links (resources) that might help me?

Originally Posted by ;

Once I lose, I lose about 40 pips, and when I win, I get only 6 to 10 pips. Since I am new to forex, I can not expect how the vital news/annoucements will impact the trend.

At the first case, you should work in your risk:reward ratio. In your case, reduce stop lose or increase take profit (just an exemple). I don't scalp but to get a scalper, a 40 pips lost/trade it is enormous. Hope you're on demonion

You should start studying some ribbon in the Trading Systems, there are several technical in scalping yen crosses (large yelders/yen).

About fundies, read ff's article and in time you'll have a clear picture. Usually, stocks move up yen.

Hmm... perhaps you will flame me for this, but my risk/reward ratio is dreadful. I cut on my winners and let winners run. :surprised

I trade small and utilize some kind of grid . It is a pip eater machine.

I have to mention I became profitable the day I didn't utilize some quits...

Regards -

Strongly advise that you take a Foreign Exchange course or two.

Originally Posted by ;

I am trading (trying scalping) on GBP/JPY pare.
Don't trade less that 4hrs
GBP/JPY is a very volatile cross, and very dangerous IMO

When I lose, I lose around 40 pips, and when I win, I get only 6 to 10 pips. Since I am new to FX, I can not anticipate how the vital news/annoucements will impact the trend.
That until this day is a difficult one, and why I only trade 4hr tendencies

how can you know or see, if the trend will probably be bullish or bearish predied on those essential announcements (in this scenario GBP/JPY)? I am reading the calender and articles, but still I can not know what they are saying properly.

Do you know any links (tools ) that might assist me?

First of all, I will say that you need to find the fad, that may be easily achieved by plotting a rapid and slow Ma on your charts 5 EMA close 6 EMA available for example , if you would like to own scalp, take trades only in the direction of the trend and if the 4hr Chart correspond with the 1hr. Set your entry then on the 30min chart and scalp your 5-10pips.

Also do not try this on a news release.

Holy.. .it's currently 236.22...

Exactly!

The 4hr is down, however only in the previous bar, so I will be mindful
The 1 hr is down, 2 bars
that the 30 mins is down, 5 pubs

Taking a Long position now could have been smoking, since WHTenn pointed out that you need to take a course or two.

Yeah, I agree with the long position ahead of the announcement is suicide. I don't have any place at time, and I'm only now looking at charts using distinct time frames.

1 Attachment(s) btw, here's how my chart appears.
https://www.cliqforex.com/general-fo...en-trades.html

Originally Posted by ;

YeahI agree with the long position ahead of the statement is suicide. I don't have any position at moment, and I'm only now looking at charts using different time frames.

My success ratio changed dramatically and actually I only stayed profitable when I began using MTF, good luck, may the pips be with you