#006 DCA CADJPY Sell

I wanted to short CADJPY just now when price was at the weak up channel, however, on the higher time frame, especially the Daily, price was above the 60SMA, so, I thought to myself, I might sell it later if I get some extra confirmations in some form, for example, strong selling pressure.

Now, price has collapsed downwards and so I decided to sell into this downward pressure.

In the past I like to wait for price to come back to an area of value as taught by Rayner, but based on my experience, the levels I draw is as good as a toddler's drawing.

With this DCA trading, I decided to just enter at any spot that I want to, and then if price retraces back to "previous areas of value", I place pre-determined Limit Orders for price to trigger.

I am an agent.

I buy and sell as the market wishes. I provide the liquidity to whoever who comes to my money exchange shop.

Doesn't matter if SGD 1 is RM2 or RM3.3, I just buy and sell however much the customer wants and profit the difference.

That's my job and that's what I do. Just that, I am doing it on a laptop.

I might be in the brokers B Book. But who cares? Life is a simulation. Trading is also just a simulation for most. Including me.

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註釋

Currently, I have 8 positions opened. 6 on USDCHF Buy, 1 on GBPSGD Buy, and 1 on this current pair, CADJPY Sell.

However, my PNL is just -0.45cents in loss, because I risk a standard unit or lot size across all the forex pairs I trade.

I think for this DCA trading strategy, I could buy or sell. But for other products such as Gold or Silver, I'll be leaning toward buying most of the time, unless if something major happens and Gold or Silver is set to collapse.

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手動結束交易

I exited manually for a small profit of 34cents SGD when I was in the lift doing my delivery rounds.

I think I am thinking too much and also drifting away from the initial ways I trade. And I became too greedy too.

It would be wise to set realistic TP.

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ProfessionalDuckHunter