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EURJPY Forex Daytrade Posts the “Trade of the Week”

Our EURJPY forex daytrade plan continues to perform, but like everything forex, patience is required.  You hear us talk about treating our trading like a business all the time.  It’s a topic that we continually discuss in our live traderoom.  If you hope to succeed as a forex daytrader, the sooner you realize this, the sooner you’ll be able to consistently grow your account.

You do not have to win every day.  In fact, you won’t win every day.  That should not matter, if you manage your risk properly.  The forex daytrade plans that we use, continually hit new equity profit levels, two steps forward, one step back, two steps forward, one step back.  Last week was no different.  Patient trading and sticking to the tradeplan like we would stick to any other ongoing business plan, ended the week with + 77 pips.  But it was the trade of the week on Wednesday that made a fairly flat and choppy week, a profitable one.  All week long it was up and down, up and down, as the low price volatility we’ve been experiencing much of this year continued to finish July.

The forex daytrade plan we use makes money, though.  We just have to ‘open our shop’ and place the trades with the proper risk levels.  Sometimes we get base hits to win.  Other times, it’s the homerun ball that puts us in the lead.  That’s how this past week went.

We had a lot of excellent trades this past week, but it was EURJPY Forex Daytrade on Wednesday, that was the “Trade or the Week.”  It utilized all the Trend Jumper ‘tricks of the trade.’  We took very small, low volatility setups to gain triple digits, and build a position that netted us + 186 pips.

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Today, Monday August 4th, we started with a bang, grabbing + 68 pips with the same forex daytrade plan and with a similar trade to last Wednesday’s only in the opposite direction.  Will it be the trade of the week?  We’ll have to wait and see.

In this trade, the second setup was our primary trade, and the earlier setup was what was used as the ‘add-on’ position.  In both cases, as with last week’s forex daytrade, we ignored the tiny targets, and went for + 15 and + 25 per position, while trailing the rest.  We didn’t get the great runner like last Wed’s trade.  Still, + 68 pips for a forex daytrade is a great result.

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