These little pullbacks are what cause traders to chicken out of their trade to "protect their gains". Now I'm all for protecting gains, as well, but you must let the market breathe! You must put stops in logical places, not just the nearest high/low ...

Zappa's Journal

What's 50 pips when you're targeting over 700? You didn't think it was going to travel in a straight line, did you?

Zappa's Journal

Don't see that happening at the moment.

Zappa's Journal

With that said, I am not sure one way or another where EURUSD is going right now.

Zappa's Journal

Like I have learned (many, many times)---the early loss is the best loss. When you know your wrong, get out.

Zappa's Journal

Cable shorts looking good. I'd steer clear of EURUSD right now though. EURGBP found some buyers.

Zappa's Journal

Hopefully you were short!

Zappa's Journal

WHo the hell is even bullish down here? Haha... Added 2 more lots and bailed on the AUDJPY trade at b/e. It might've been alright, but I'd rather just stay focused on cable right now. Biggest cable position ever for me.

Zappa's Journal

1.5 would require quite a lot of buying at this point and I'm not sure I'd want to be short anymore. I think we just had a nice fake out for another top, and now we're selling off with power. That's a very good sign for shorts.

Zappa's Journal

And now the stop on AUDJPY is moved closer, making it better than a 1:12 r/r. GBPUSD pulled off the lows some, but it looked weak and simple. 1.4250 is still on, I believe. I started with 5 lots on this trade and I'm now up to 14 lots. Risk is not ...

Zappa's Journal

Bought AUDJPY at 92.58 late Friday with very small size. I have most risk tied up with large GBPUSD short position. AUDJPY trade on chart. Its a nice 1:6 trade, but I might get out sooner. We'll see what market looks like on way up (if it goes that ...

Zappa's Journal

Or this one. Go long AUDJPY. See, there's always trades to take. No reason to stick around in a shitty one.

GBPNZD trading calls

Hey, like I said, there's another trade right around the corner. Check this one out. Go short GBPUSD right now. Stop and target on chart.

GBPNZD trading calls

Don't feel bad. I've done what you did and much worse too many times to count. Trading is not easy. You'll learn. Also, the early loss is the best loss. When you know your wrong, just take the loss quickly. There is a winner right around the corner.

GBPNZD trading calls

There are definitely stops at 1.4810.

Cable Update (GBPUSD)

1.4250-1.4350. Right now I have the order to close at 1.4250, but at 1.4350 I will be ready to act if things don't look perfect.

GBPNZD trading calls

It might, but I don't see any reason to buy down here, CK. I don't see any real buyers down here. I hope you have a close stop in place, because we might get down to 1.9600 soon. I think its good to have levels and spots where you expect a reversal, ...

GBPNZD trading calls

Anybody going long on this pair right now needs to look at a weekly chart. Any rally before a break of 1.4810 should be sold. Besides that, there are no real buyers to be seen down here.

Cable Update (GBPUSD)

Well, I don't see any big buys down here. Its possible, of course, but I would use any rebound to add size to a short, provided the retrace looks like it won't last long. I definitely wouldn't be buying yet.

GBPNZD trading calls

And this GBPUSD trade I'm in is a perfect example of judging a retrace for what it is and not getting scared out of my position just because it went against me while I slept. The retrace looks weak, and I don't see any real power. Selling was strong ...

GBPNZD trading calls