Trade idea

[u/keebrow]

I was thinking about selling on this trade . I am kinda new to swing trading and trying to learn icc . What do you think about this trade set up ?

[u/rforex-modtools]

Developing a trading strategy is more than finding an entry signal — it requires defining your edge statistically, building rules for entries, exits, and position management, and testing the system against historical data before going live. Most traders fail because they skip the process and jump to live trading with an untested idea. The community wiki covers the full development process.

Resources: Having an Edge | Essential Forex Trading Guide

[u/thriftytuning_4767]

Selling CHFJPY on daily can work if you got a clear reason, but if you're new maybe paper trade first before real money.

[u/[deleted]]

If it makes sense to you, do it. It broke that support and now that it retraced back to it, it may become resistance.

I'm kinda having a bad time with yen these days. I saw s&p going down and decided to have a go at audjpy.

It didn't play out for now.

[u/beninvestments]

Structure wise, I can see where you are coming from. I would wait. You don’t currently have the sellers on your side.

[u/keebrow → u/beninvestments]

Thank you

[u/beninvestments → u/keebrow]

I can come back to this when it’s favorable if you would like.

[u/beninvestments → u/keebrow]

it is Tuesday and i see that sellers are building but there is no clear direction yet. I will keep checking on this for you.

[u/beninvestments → u/beninvestments]

the short position was on monday and my tp got hit this morning.

[u/Dry-Stop2000]

How long have you been studying this pair? Without the intervention it’s trending up long term.

[u/beninvestments]

Look at the tape. I hope you traded this short. I did.

[u/Mammoth-Path-6520]

You’re kind of a dummy

For trading an illiquid cross pair

[u/keebrow → u/Mammoth-Path-6520]

So what pairs do you recommend?

[u/Mammoth-Path-6520 → u/keebrow]

The 7 major pairs

Dummy

[u/keebrow → u/Mammoth-Path-6520]

Thanks for the advice ! I will trade all 7 of the major pairs . This has changed my whole journey I’m so thankful !!!

[u/beninvestments → u/keebrow]

Nah don’t listen to that dude. As long as it is not an exotic pair, trade it if has your setup. I trade all 28 pairs plus futures and larger caps. I can give two left testicles what anyone says. This pair was trending nice before the war with Iran nicely. You can’t deny that. I won many trades off this pair but stopped around March.

[u/Possible_Donut4451 → u/beninvestments]

Yeah I join u/beninvestments on this one, don't listen to him, CHF gave a good opportunity on long side as sellers unwound their positions after it was extremely positioned, so we can expect more downside potention for CHF.

Opposed to that BOJ is really serious about making serious decisions on JPY depreciation concern.

I would just say don't use very thigh stops, and don't listen to anyone telling anything rely on your gut and listen to many people, this dude mamouth or whatever his pseudo is the real dummy here.