good luck trading everyone.

alright guys, I'm back.

while I was sleeping #CADJPY hit its target and added another 20 pips of profit. and I closed #EURJPY while it was about 12 pips in profit, so I can close the case of Monday's trades witha total of 92 pips and start fresh for today. (its already Tuesday 3:12 AM in my time zone)

Before we move to today's trades, I first want to talk about an important factor of successful trading, Money management and risk.
Money management is a crucial element of trading sucessfully. if you don't pay attention to it, even tho you can seem sucessful in short period of time, you will see that your account is only dissolving very slowly in the long haul.

my rule of thumb is that I can only open trdaes as large as 0.05 of volume per every 1000 dollars I have in my account, and with this rule, I can have maximum 5 open trades at the same time.

so for example, if I have 1000 dollars in my account, I can have 5 positions open, but the size of each position can't be more than 0.05 lot.

if I have a 10000 dollar account, I can have 5 open trades, each having a 0.5 size of volume.


I also like to divide that maximum-per-trade size into smaller parts so I can have more than one open position on the same pair. like if I have a 0.5 cap for trading USDJPY, I like to divide that into one 0.1 position and two 0.2 position which I will open later on if the initial order seemed to be a right one.



these tips while they might seem very simple and sometimes annoying, they are crucial to your success in the long term.

#NZDUSD sell at 0.72425 with 700 points stop loss and 1400 points take profit (go in with a very low volume, we might need to add to this if it jump up for a pullback on the channel)

##USDJPY is in a weird situation, its on its way to reach 114.800 to finish reaching the target of the tirangle pattern on 8hr chart, but since the move up was too sharp, it might create another swing low, so I'm going in with a sell order at 114.200 with a 700 points stop loss and 700 points take profit.

but its a very high risk order.

I highly suggest you guys to not enter with me on this one :D

#EURJPY sell limit at 130.195 with a 450 points stop loss and a 900 points take profit.

#GBPUSD sell limit order at 1.29260 with a 600 points stop loss and a 1200 points take profit.

#Gold - its in a very interesting place, I might go in with a buy order around 1211.75 with a 700 points stop loss and a 700 points take profit .

I actually put in the buy order. but its a high risk trade really.

#GBPJPY sell at 147.300 with a 800 points stop loss and 800 points and a 800 points take profit.

I have a sell limit order in to sell more at 114.500. Stop loss at 114.860

I also have another buy limit order at 1208.00 with 330 poinst stop loss and 660 points take profit.

I also have another sell limit order on #USDJPY on 114.700 with 200 points stop loss and 800 points take profit.

#AUDUSD - sell at 0.76100 with 450 points stop loss and 450 points take profit.

I have another sell limit at 0.76390 with a 200 points stop loss and a 800 points take profit.

#GBPJPY - I added another sell limit order at 147.850 with 300 points stop loss and 900 points take profit.

actually I widened the take profit of this one to 1500 points. (1:5)

#AUDJPY - its in an interesting place. have it on the watch for now.