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Beginner yen specialists over-alert.

Mistakes I see: every Tokyo headline marked Tier-1; trading USDJPY through a BOJ window because "it already moved"; keeping EURJPY inventory into a USDJPY event; using the calendar as entertainment between setups.

Hygiene: Tier-1 list short, blackouts written, yen-cross inventory rules explicit before London, and a Sunday strip on the monitor. Beginners also forget DST shifts that move London labels relative to Tokyo. I make them rewrite times every clock-change week.

Prop adds another layer - firm news rules may not match your yen paranoia. Take the stricter clock. Yen specialists do not need more headlines. They need fewer, with obedience. I also ban "just one yen scalp" language from mentee journals. That phrase precedes limit breaches.

One exercise that works with newer yen traders: give them last month's calendar and ask them to strike out everything that did not move USDJPY more than its normal London range. Usually two thirds of their alerts disappear. The ones left are the ones worth a blackout, and a short list is a list people actually obey.

PropScalpDesk, the strike out exercise is a good one, and I would add a second pass to it. After striking the events that did not move USDJPY beyond its usual London range, look at what moved it that was never on the calendar at all, since that tends to be a longer list for yen than for most pairs.

Intervention talk is the obvious example. Finance ministry comments about watching moves with urgency have shifted USDJPY more than most scheduled Tokyo data, and no calendar gives them a time slot.

My own Tier 1 list for yen is five items: BOJ decisions, the governor's press conference, US CPI, US payrolls and Tokyo CPI. Everything else gets a note on the Sunday strip but no blackout.

The press conference needs its own rule. The decision itself can be quiet while the conference a few hours later moves the pair harder, so my blackout covers both rather than just the headline time.

How do you handle the yen crosses when the trigger is on the dollar side? I flatten EURJPY before US payrolls, but I know traders who argue that is too strict.