PipHanger's AUD/JPY Journal

Discussion in 'Trading Journals' started by PipHanger, Nov 9, 2013.

  1. PipHanger

    PipHanger Well-Known Member

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    I will be taking on the AUD/JPY pair in this Journal / Journey...

    I will only be trading the .50 and .00 levels when they setup inside of the Fib 62% - 79% Retracement Levels at Support or Resistance.

    I will be using a max 50pip Stop, moving Stop to breakeven once 50pips in Profit, looking for 2 to 1 on my money at least.

    Let the FUN begin...
     
  2. PipHanger

    PipHanger Well-Known Member

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    Road Map as of (11/09/13)
     

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  3. PipHanger

    PipHanger Well-Known Member

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    11/13/13 - Trade Review

    Entry: 92.50
    Stop: 92.00
    TP: 93.50
    Profit: 100 pips
    R/R: 2 to 1

    Wednesday created a Low for the week with OTE around the 92.50 Key Support Level. I got my objective level by using the same swing as OTE and used the 400% Extension level which came in at basically the 93.50 Key Resistance Level plus Higher Timeframe OTE.

    I started this account with $5,000.00 and I also took a trade on the NZD/JPY Short @ 82.50, I noticed it wasn't setting up the way I would like so I closed at 82.62 for -12 pips.

    So far my Road Map is doing me some good.

    Until the next time...
     

    Attached Files:

  4. jack

    jack Administrator Staff Member

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    Nice!

    I noticed your stop is rather wide though, based on your analysis, was the full 50 pips required? Or could you have gotten away with less?
     
  5. PipHanger

    PipHanger Well-Known Member

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    I believe I could have made my stop smaller, but until I get better at trading I think having a set rule of always at the next .00 or .50 level will do just fine.

     
  6. PipHanger

    PipHanger Well-Known Member

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    11/13/13 - Missed Trade

    I missed this trade, but I will keep track of this in my journal for learning purposes.

    We had a 00/50 OTE @ 94.00 Key Resistance Level. We can see we just went above 11/6 high to sweep the stops and down she goes.

    Waiting for next opportunity to come my way...
     

    Attached Files:

  7. PipHanger

    PipHanger Well-Known Member

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    11/19/13 - Trade

    Looks like I was able to get my chance today on a Short opportunity at the 94.50 level using a 00/50 OTE from the 95.00 level. 79% retracement level came in close to this 94.50 level and has also swept some nice stops.
     

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  8. TheInnerCircleTrader

    TheInnerCircleTrader Well-Known Member

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    Updates... Get to work PipHanger
     
  9. SLT

    SLT Official GDayFX.com Rep

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    here are some charts to get him back up to speed, using your techniques
     

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  10. slugFX

    slugFX Well-Known Member

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    Why do you trade AUD/JPY only? Are you a student of Chris Lori? Do you go long only? I just received his AUD/JPY course on a 35% discount.. I was interested in it because I want to see if the carry trade is worth it and I like the idea of being able to trade during the Asian session after my 9-5.
     
  11. PipHanger

    PipHanger Well-Known Member

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    That is what I based it off of, but like everything else in trading, I didn't understand Chris Lori's video and how to trade AUD/JPY...The video seemed to be way over my head.

    Hopefully you have better luck with it then I did. To me it seemed like a waste of money. I purchased it when it was full price.
     
  12. slugFX

    slugFX Well-Known Member

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    I am 25 minutes in and I haven't gotten much out of it yet. I hope it is true that he brings it all together nicely in the 2nd video.

     

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