May 2nd NY Session
by Trader Rich
I'm in short trade right now, USD/JPY at 113.25 with a 30 pip stop. It's currently down 15 pips. I just really need a winning trade right now. I'm not going to do anything stupid though and I'll follow the rules and hopefully I'll come out on top.
I opened the trade at 8:30 am when we started to get some volatility. It has since dried up. There are no major economic releases today.
I'm about to get stopped out. I have to admit that I'm fighting with myself over the stop. I want to move it up so bad. I won't touch it.
I didn't touch it but I was stopped out. Wow, I don't know how many trades I've lost in a row. Since signing on with Rob Booker, I have 1 winning trade and 9 straight losers. One thing is for certain, I'm great at picking the bottom when I'm shorting.
Trade Details
The red thumbtack is where I went short. I was stopped out
2 candles later. I went short after a close below my lower channel.
The volatility dried up and the squeeze dissipated quickly after 8:30
am.
Popularity: 2% [?]
If you can consistently pick 1 winning trade and 9 losing… there is a winning strategy I see. You tell me what trade you are going to put on, and I will take the opposite side. That will give me 1 loser and 9 winners. Better yet, why don’t you just do that and and you can also have a winning record… There is a always a positive in every situation, sometimes we have to look harder for it.