What's the game plan on D2?

Well this was one crazy week for D2's. Took some losses but thats ok. Looking forward to the new 2hr cross on the Eurusd.

Al the Yen's have Day ROI that are failing, so I will probably just sit out of the Yens and see what happens.

As far as the challenge goes, I am down about a grand in my account. Looking forward to making it back next week.

Darn Yen Stopped me out

Been a crazy week. Some D2's this week where failing and some D2's where paying out. I of course picked the ones that failed. It happens. the next crosses should be good ones as I hope trend walls will get broken.

UsdJpy stopped me out with a lil over 210 pips.

The .50 on the Yen

So we have a S90 at 94.40 area on both the 2hr and 4hr charts that is duplicated with a .50 Fib level of this big surge that we saw today. So Im thinking the market may come down to that level and build a support for us to move our stops to. May even be able to get in again for another buy entry. We shall see.

Yen Yen Yen

This is where I stand in the challenge account. My first trade was successful if you remember. I took a lose on the jpy earlier this week which on took back my profits. I am back to being up in the account and plan on leaving my position as long as possible. With the week crossing up next week, I am hoping to see more bull moves on the jpy. As you can see I have moved my stop even on the trade and will wait for a new support to be created as we may see dips down.

I am a stop chaser. I love moving my stop to "Correct" way, that being with the market, not moving it to stay in a failing trade. So lets see what we can shake out of the forex market.

From Bad to Good, The Yen is my Friend

So we got into the Usdjpy yesterday afternoon on the 4hr cross, and it did nothing for about 12 hrs. Then if finally got jump started and we are now up 70 pips as I am writing this now.

So what is my game plan for the rest of the week? Well, Im still in the Eurusd with 2 investment entries and they are up. One entries is up 220 pips and the other 70 pips. We had a day trend wall break out a few days ago, so Im hoping it keeps climbing. I have many of those pips locked it as new supports are being created, so I will just keep moving it as we continue to see a bull move on the Eur. It could turn any day now as wee see the Day ROI is failing, so I will let the market stop me out whenever it does.

As far as the JPY is concerned, I closed half my entry with about 50 pips profit and I moved even on my challenge account. I am hoping that with this entry we are jumping the week cross that will happen next week. I have a target of 95.90 area for the JPY so lets hope we get there before the market closes tomorrow. My medium target is 97.30 and long term is 102.60.

Lets see what happens. I don't think I will add and new entries, Im just going to let what I have cook. Im locked in with profits so all my entries are "Don't Care" trades.

Usdjpy Losing trade

So we took a loss on the jpy, am I worried that we have a failing trading formula? Well, I pulled a report for my trading from June 1st until today and I traded 126 trades with 18 failed trades. Am I profitable, what do you think? O, and by the way, they consider a failed trade when my inv. lot would come back and stop me out. I really only had 2-3 true failed trades, the rest of the failed trades where my inv. lots being stopped out, but I already made money cause I buy my trade every time.

This failure today on the jpy was also during an announcement, so in my book it is an announcement driven failure.

What's my game plan for the week? Im chillin, gonna take it easy and just wait for fresh days to get back into agreement with the weeks. I have no problem waiting for a good trade to set up.

Patience Pays

I can also afford to wait because we have taken several hundred pips this month already. I am still in the Eurusd with 3 entries and have a lil over 300 pips locked in. I do not for see adding any more bull entries on it since we have the day failing. Ill keep moving my stop and let the market stop me out. If they day opens up and starts going again, I may consider adding another entry on a 415 430 d2 or 1.5. Im sure i will post anything I do on twitter so everyone can stay up to date.

Have fun and don't stress. Shiz happens. We just have to be around when it turns into daisy's.

Dealing with the lost D2 trade on GbpUsd

Remember our failed D2 on the GbpUsd last week? If you remember I said that the following D2 after a failed one would cover the lost plus profits. Look at the last 2hr cross up on the GbpUsd. The entry would have been on a Sunday night. I personally have no problem trading Sunday night as long as the ROI projections are really high.

You would have been looking at a 100 pip stop and currently it has paid out a little over 180 pips.

Could you have made your loss back? MMMMMMaybe, you gotta trade it though. I have yet to see a back to back failure on the D2, unless of course you are trading it on a failing day ROI.

So lets continue to trade the D2 profitably.