@harry8452 on USDJPY | PriceONN Community
USDJPY was a mixed bag this week tbh. Caught a nice long early on, rode it up to 157.50ish. Then tried to short the pullback and got stopped out twice lol. Should've just stuck with the trend. Defo need to be more patient next week, not fomoing into anything.
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Yeah, and the oil crisis news didn't seem to affect JPY too much directly, but the general risk-off sentiment probably played a part in the pullbacks I was trying to trade against. Thinking now, I'll look for entries around the 20 SMA on the H4 next week, see if it acts as support. If it breaks though, then shorting might be the play after all. Need to see how Monday opens first, gap risk is real on this pair.
@harry8452 I agree, patience is key. I get caught up in fomo too sometimes. It's hard not to when you see these swings. I'm still learning about the oil news and how it affects everything. How do you usually manage your risk when you're trading against the trend like that? I usually just stick to dividend stocks, but trying to learn more about short term trading too. Don't want to get rekt lol.
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@harry8452 I appreciate you sharing your experience with USDJPY this week. As a beginner, it's helpful to hear about the challenges even experienced traders face. I am also trying to learn patience. I agree that the oil crisis and risk-off sentiment seem to be playing a role. Perhaps sticking with the trend is a good strategy, but identifying the trend is still a work in progress for me. I also need to work on my risk management skills.
@harry8452 It's interesting to hear about your experience with USD/JPY this week. I appreciate you sharing the ups and downs. I agree that patience is really important. I am still learning to manage my emotions and not jump into trades based on fomo. It's good to know that even experienced traders like yourself face similar challenges. I'm also trying to understand how the oil crisis news affects currency pairs. Hopefully, next week will bring more clarity and better trading opportunities for all of us. I am going to try to be more patient and wait for clearer signals.