Spoke too soon.

Zappa's Journal

Was taking a closer look at GBPNZD today, and I am on the same page as you. I think we'll see one more new high to fake out some buyers and then it'll be over. See chart. This might be my next trade if everything works out, though there are a lot of ...

Zappa's Journal

Divided entries wouldn't make sense for me and would make things more complicated for no good reason. Figuring out where to put my stop is rarely a problem for me, its the target that I always end up putting too far. With a 1:1 r/r the target is set ...

Zappa's Journal

If I'm going to make winning every trade my goal, and using a strict 1:1 r/r for each trade, then I should set stops EXACTLY where I want them and not an inch further. This will, in return, make my target closer and more likely to get filled. And in ...

Zappa's Journal

Changing target on NZDJPY short to 179.98, making it a 1:1 trade. Anyone who's been reading my journal knows how I always struggle with where to set a target. I was thinking this weekend about it in a different light. Trading is basically the same ...

Zappa's Journal

Hello dcavar, I'm glad you are gaining something from my journal. As far as EURJPY is concerned, it broke out of that range we were in for about 6 weeks. If this is simply a fake out, there is no proof of that yet. I believe we will ultimately be ...

Zappa's Journal

Every loss brings opportunity to reflect and learn. In trading, many lessons need to be learned a few times. At least for me they do. What have I learned from this NZDJPY loss? A few things: --Most importantly, greed is my absolute worst enemy. When ...

Zappa's Journal

Was stopped out at 81.10. This will continue going down, I believe. Just went short at 81.29. Stop is 82.60 and targeting 250 pips. About a 1:2 r/r

Zappa's Journal

Afraid to make a post, as NZDJPY seems to sell-off as soon as I do, but here goes. We turned at a crucial spot today (81.50). I've re-analyzed all pairs this afternoon as the thought crossed my mind to ditch this trade for something else, but I ...

Zappa's Journal

NZDJPY was not done taking stops last night like I thought it was, but thankfully did not hit my stop. The markets have an uncanny ability to confuse humans, but fortunately I had my stop in the right place. Now, however, I am moving my stop to ...

Zappa's Journal

NZDJPY has decided to take out some stops today, targeting a spot that was apparently not tested enough. I am not shocked by this at all, though I did think it was a lower probability than heading straight to my target. It is the price I am willing ...

Zappa's Journal

So far, NZDJPY long off to a good start. I do think the initial target I set will be met, but I'm going to try a different approach when setting targets. Very often my greed gets the best of me, so I'm going to set the target at a spot where I would ...

Zappa's Journal

There are too many reasons to list (and explain) why I have changed my bias, but since I entered this trade selling has slowly disappeared. Just look at the 4 legs down (chart). I don't think my expectations were unrealistic, just wrong. The ...

Zappa's Journal

Not so sure about this anymore. I believe the time has come and gone for bears to take control. It appears the bulls have taken everything the bears could throw at them, and they still come right back. It has become a pair that I don't really want ...

Zappa's Journal

Yes, many possibilities today. Only thing that seems certain is EURJPY heading south in the big picture.

Zappa's Journal

GBPNZD still too early for me to short. It could have, though, for sure. I'm focused on EURJPY. And here I am again with my silly forecasts. Seems I'm vastly overestimating volatility lately, but I'd rather be shocked by low volatility than high. 2 ...

Zappa's Journal

Zzzzzzzz.....somebody wake me up when we hit either 133 or 138.

Zappa's Journal

I still think we might see a ridiculous drop which has already started. Here's a little more food for thought. In attached chart I've drawn a few things that line up that might serve as a magnet. We might be in a channel right now (as seen in blue). ...

Zappa's Journal

It might seem crazy to think this could happen this week (1st chart), and odds are that it won't, but a move of this magnitude has happened before (2nd chart). The market has potential for this considering the previous powerful sell-off from ...

Zappa's Journal

Smaller moves are harder to predict and I hate losing. Losing wastes time. With the bigger moves one is able to examine the insides of it by looking at all the smaller TF's and determine how weak or strong the move is/was. With the smaller moves, ...

Zappa's Journal