PA #2 : audjpy sell 02/12/24
TRADE 1 : STOP LOSS (-0.78%)
1/ What I did right:
- Always looking for the activity, if there is any (only big boys can move the market)
- identification of aud and jpy news today but relatively no market reaction
- Identification of strong market reaction for buys from CPI news from JPY (29/11)
- Identification of market flow which is strong for JPY
- Identification of Power (previous session break and day break) which indicates that the big boys made the move: this is my job now.
- Right pair selection by choosing AUD which is weak.
2/ What i did wrong:
The direction was right, but timing was bad.
- This was mainly due to a big difference between the 3 min tf (for entry) and the 1h TF (for job identification).
This trade was in fact a 1H+15M trade instead of 15M+3M trade.
- Most important mistake: i didn't enter at the break of the money spot but before. I waited for the reaction like yesterday and the failure of the opposite part, but didn't trade at the break of the money spot.
3/ What i will change:
- We always enter at the break of the money spot, not before. (and the money spot has to be after the comeback of the buyers and the weakness of the sellers.
- Decide in advance the time frame we will choose, if it's a JOB that took place days before, higher time frame will be more suitable. And we won't get lost in the noise.
TRADE 2: TP (+0.85%)
1/ What I did right: Same as previous+
- waited for the weakness of the sellers
waited for the comeback
waited for the money spot
2/ What I did wrong:
- Decided to risk only 0.25% after the loss, maybe i could risk 1%( would've got +3%
3/ What i will change:
I will wait until the end of the week and check if we should keep safe or go harder based on performance.
TOTAL: -0.78%
OBJECTIF: +10%
1/ What I did right:
- Always looking for the activity, if there is any (only big boys can move the market)
- identification of aud and jpy news today but relatively no market reaction
- Identification of strong market reaction for buys from CPI news from JPY (29/11)
- Identification of market flow which is strong for JPY
- Identification of Power (previous session break and day break) which indicates that the big boys made the move: this is my job now.
- Right pair selection by choosing AUD which is weak.
2/ What i did wrong:
The direction was right, but timing was bad.
- This was mainly due to a big difference between the 3 min tf (for entry) and the 1h TF (for job identification).
This trade was in fact a 1H+15M trade instead of 15M+3M trade.
- Most important mistake: i didn't enter at the break of the money spot but before. I waited for the reaction like yesterday and the failure of the opposite part, but didn't trade at the break of the money spot.
3/ What i will change:
- We always enter at the break of the money spot, not before. (and the money spot has to be after the comeback of the buyers and the weakness of the sellers.
- Decide in advance the time frame we will choose, if it's a JOB that took place days before, higher time frame will be more suitable. And we won't get lost in the noise.
TRADE 2: TP (+0.85%)
1/ What I did right: Same as previous+
- waited for the weakness of the sellers
waited for the comeback
waited for the money spot
2/ What I did wrong:
- Decided to risk only 0.25% after the loss, maybe i could risk 1%( would've got +3%
3/ What i will change:
I will wait until the end of the week and check if we should keep safe or go harder based on performance.
TOTAL: -0.78%
OBJECTIF: +10%
Trade fermée: cible de profit atteinte
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.