2 Forex EUR/JPY Trades, 2 Minutes, 20 Pips

The EURJPY hasn’t been all that easy to trade during the past hour or so, but good enough if one is patient. :-)

Both of these trades lasted less than 1 minute each. In total, they produced about 20 pips profit, after commissions.

You’ll notice on these charts a Pink arrow. This where I could have entered, but chose not to do so, based on several factors, but one in particular was the Logical Forex Magnet Line, and how price had been reacting around Magnets during this session. I chose to wait for a more high probability trade on each of these…but a more aggressive trader might choose to enter on the Pink arrow.

I have a long busy day ahead tomorrow, starting early in the morning, so I’m going to stop trading now. It’s been fun and profitable, and most likely, the best part of the trading day is coming up here in a few minutes. Have fun. I’ll catch up to you next week. :-)

*** TRADE #1

Patient Scalp, Quick In-and-Out

Patient Scalp, Quick In-and-Out

Exit #1

Patient Scalp, Quick In-and-Out

Patient Scalp, Quick In-and-Out

*** TRADE #2

Almost exactly the same kind of setup as the previous trade.

Another Quick Forex Scalp

Another Quick Forex Scalp

Exit #2

Another Quick Forex Scalp

Another Quick Forex Scalp

I noticed that while I was posting this, the price on EUR/JPY has been a bit erratic and VERY jumpy. Be careful!

Let price give you a good, clear flow, then watch for the mini-retrace (especially near Magnet Lines), and then evaluate the setup for a high probability trade. If price moves against you even a little bit…bail out! If price goes in your favor, even a little bit…exit with profit quickly! Of course, if you are a brave soul, you can hold on, but be ready to accept giving up your profit.

One of my trading buddies just told me he had a 7 pip profit…clicked the button to exit…and only ended up with 2 pips profit. It wasn’t any kind of broker manipulation (and we know this because we use different brokers, but saw the same thing). So, move quickly! Not just today…but every day.

If you really take the time to read this…you’ll learn MANY hints and clues that will make you a more profitable trader. :-)

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