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riskfreetrading

I mainly trade options but also trade forex particularly when market is closed or I am bored. I am now opening positions on EUR/JPY for some possible quick profits/losses.

For the record, I am building a pyramid starting at 158.63 up to the area of 158.83. Pyramid in this case will be against trend with larger sizes close to 158.83 than positions at lower prices. Stops (reverse pyramid starting at 158.93).

If reversal happens and continues, I plan to hold position. If not lower stops to profitable area (if any) during asian session. Double check things and decide on hold/close/stops/etc before I go to bed.
 
Quote from riskfreetrading:

I mainly trade options but also trade forex particularly when market is closed or I am bored. I am now opening positions on EUR/JPY for some possible quick profits/losses.

For the record, I am building a pyramid starting at 158.63 up to the area of 158.83. Pyramid in this case will be against trend with larger sizes close to 158.83 than positions at lower prices. Stops (reverse pyramid starting at 158.93).

If reversal happens and continues, I plan to hold position. If not lower stops to profitable area (if any) during asian session. Double check things and decide on hold/close/stops/etc before I go to bed.
More...

I just checked, and I am filled on 15% of my position so far.
 
5 minutes chart is signaling flat or toping price actions. I lowered my entry pyramid by 5 pips. Last soldier to join will be at 158.78 (if we get there).
 
current buyers seem to be around 158.62. Strong hand sellers are in the area of 158.70. With passing times, both armies might have a clash. If sellers win, I will lower the rest of my entry pyramid. If buyers win, I will consider removing it. My prediction is that sellers will win this round.
 
The sellers army moved a bit down. Last reported at mile 158.68. Lowered my entry pyramid with last soldier at 158.75. My soldiers standing by are reporting hearing the nose of battle.
 
My soldiers in battle just reported that buyers at 158.62 have been defeated. I am not ruling out a counter attack. The sellers army is still at mile 158.68, waiting for any eventual appearance of buyers to engage them.
 
Looks good so far, but I am still concerned about a possible counter-attack. Only 25% of my soldiers are in. The rest 75% are watching from their pyramid starting at mile 158.68. Last of my soldiers is at mile 158.75.

Battle is doing good. Only regret is that not all my soldiers will be there to receive their share of the gains. Only 20% are in. The follow the orders of the general.
 
5% of the soldiers are witthdrawn from battle. Each with a 10 pips gain. They are posted back at mile 158.63. My soldiers in battle are only 15% of what I intended for this case.
 
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