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

    Anyway live trades will start from monday onwards. Capital is 20,000. Lets see how it goes.

    I expect I profit.

  2. #2
    Best wishes with great profit

  3. #3
    Long 226.60 tp 227.11 ( 2 lots)
    sL 226.00

    motive: 15 mins 100 sma is holding and one sma has crossed the 5 sma low

  4. #4
    I think your stop was hit, if this is the case, no problem, just wait for the next entry with the trend.

  5. #5
    Okay a bad start. So did not trade the whole day.waiting for a new opportunity.
    60 pips down .

  6. #6
    Sold gj 225.00 in the new 15 min candle coz candle opened under 50 sma

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

  7. #7
    How did that one work out for you?

  8. #8
    hi OROMIS... yes the name says everything. SL hit again...

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

    LOst a lot . . GOsh . . Down the equity to 17800 ish.

    Hope to recuperate with this Offer.

    Support is from a 4 hr macd divergence plus my indiors are giving me a bullish sign. momentum on daily and 4 hr is bullish. Usually it should yeild 200 pips minimal, but I'll be pleased with a 100. Maybe I'll alter my TP as time advances and deliver up my sl after I cross 75 pips. Hope it succeed. Fundamentals are also encouraging this transaction.

    Regards
    STR

  9. #9
    Hey stringfx

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

    I believe you are coming from the blocks a little powerful however. Firstly, you shouldn't ever be suprised at just how much you've lost (because you were). You ought to have calculated that your acceptable reduction before you entered the trade and then

    (a.) Size your place to satisfy your stoploss, or
    (b.) Establish your stoploss to fit your place size

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

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

    Your number one priority as a trader is capital protection. Your capital is for you as resources are into a tradesman - without it you can't get your job done. So when deciding how much you will risk on each trade, you must consider a worst case senario. This will be different for every single egy. If your egy includes a high win % and low r:r then 5% could be acceptable since you are not likely to acquire a series of more than 5 or 10 losers in a row, but if you've got a high r:r but a reduced win percent, you will want to risk less than that. Consider how many losses you're able to withstand in a row if you are risking 17% per trade, very soon you'll be at unrecoverable amounts.

    Of course, if $20000 isn't anything to youpersonally, and you want to treat the account as a high risk/gambling account then go to it and ignore everthing I've just said. But otherwise, then think very hard about how much you are risking per trade, I would like to see you lose your account in a couple of days.

  10. #10
    Quote Originally Posted by ;
    Hello traders

    I have been a silent admirer of several fantastic traders in this forum and truly appreciate the effort they have shown in training that the newbies. I have been demo'ing for several months and finally decided to go live. My scalp transactions will be based on 15 min charts and will be on gbp/jpy. This beast has made countless few and busted countless accounts just by it's volatality. So I have decided to enter the stadium as well to try and take the bull by the horns of it.

    Anyway live trades will start from monday onwards. Capital is $20,000. Lets see how it goes.

    I expect I profit.
    Sting
    just Take a Look at my method and see if it suits you, it works good for 5min and over timeframes

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