Piter's Journal

2008 TRADES:

April 2008 ................................... ....733pips

week 01 APR - 05APR 2008 ..................199pips
Week 07 APR - 12APR 2008...................269pips
Week 14 PPR -19APR 2008....................265pips

Hi Guys,

I am starting my trading journal here. I am trading for 3Y. I am using:

1. Charting: eSignal, EnSign,

2. Brokers: cmsfx, MBT, PacificTrader(saxo)

3. Style: short term trades, about 20-40 per day, most between 5pips-50pips; Working on 1min, and 100T TF

4. Currency Pairs: carry Pairs, but only 3: GBPJPY, EURJPY and USDJPY

5. Exit Strategy: I am looking at 5 multi monitor configuration, I am using 4 monitors as: 1h, 4h, Daily and weekly. As a S/R I am using 50ema, 100sma, 200ema, Gann HILO(10) on all TF. This is my exit points. Additionaly I am using Momentum(10) as a confirmation.

6. Entry Strategy: I have 3 Entry strategies: each for diferent Market Condition: sideway, Breakout and Trending market


I am going to post regulary some TA, Charts as well my Account Stat. every Week...
Good Luck to All.

Trades on 03 APR - 04APR 2008 .................. 209 Pips
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Trades on 07 APR 2008 ................... 177 pips
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Some of the posts:

http://www.forexfactory.com/editpost...post&p=1939676

http://www.forexfactory.com/showpost...ostcount=72157


I beleive that we need a retrace, before we go UP... Look @ the Momentum @ daily, 240 and 1h, (weak and bearish)
1. On daily after a big fall we retrace almost 61.8
2. On 240m (4h) we had a rally and price hit DR1 and 240 Gann, we need retarace @ least 50% (201.06)+WPP+50EMA
3. On 1h we hit gann (blue) and we are now passing 50ema (red)

(just MO) cheers

hello,:wave:...nice pips...

Very brave to post a journal. Hope for you, you can keep it up :-)

Trades on 11 APR 2008 ................... 92 pips
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FAILING TO PLANE IS PLANNING TO FAIL

This is what I am using:

Everyday before I start trading I fill the Forms, and write down how much PIPS, and how much money I am going to DO today. Then I start.

Keep your journal for every trade on papers (forms) every day all week. After the trading week you can collect all the forms, and put them in folders, and analyze the trades. You can see where your Weak Points are: in your trading system, MM, Mainset.

Here is an example of the form I am using, you can download, and add new columns, (if you can took the images of your charts durring your entries and save them on disk, that's fine, just write down the image file). Analyze over the weeekends, Saturday, Sunday, make a new plan, Project your Goals, for next week, month. Keep it simple, but DO it every Day, every TRADE....(no excuses) Do it for 30 Days, you can see your improvements.

Excel Sheet

Piters, just wanted to say a quick thank you for posting valuable information.

Keep up the good work and I look forward to growing as a trader with your help...

Thank you to you..

To make Pips is very easy, but to keep them is hard. The main thing is to be constant, and focused. Please find attached PDF and read it.

As traders, we are facing a lot of winning and losing trades every day. We are running our trading systems, and we are asking ourselves, what happened, when the trades goes against our positions. Then, in a short time most of the traders, newbie but experienced as well, just easily decides that their current Trading system sucks, and usually start looking for a "Holly Grail" - the new Bullet Proof system. But there is a mistake and a trap: I am saying that there is not a such thing, You can't find a Holly Grail as a Trading System, because the Holly Grail is made of 2 components: Trading System and a Trader.

If we have 100 traders with the simple MA crossover system, still 95% of them will lose their Money?? Then, what is the problem? The answer is: The second component.

1. Have a faith in your system
2. Keep your journal for every trade, that how you can learn and improve your second component.

There is a Saying:

"Ïf you know the market and know yourself, you'll win constantly, If you know the market but not yourself, you'll win randomly, If you do not know the market or yourself, you'll consistently lose Money."

The other thing is market condition. We have to recognize current Market condition, and have a proper System for. We know that most of the time, market is moving in 3 different ways:

Trending
Counter-Trend (sideways)
Breakouts

If you are trading only one of the market conditions, or you have only one Trading system which works perfectly only for one of the conditions, then there is an important question: what you are doing in rest of the 70% of market conditions. You are 70% of the Time WRONG or you are CHARTWATCHER.

Solution: You have to recognize the current market condition, and run your system on, you are aware when your system works, and give you the best results or you step aside when you cannot fight without the proper weapon (Trading System) in that moment, but don’t run your system all the time in all conditions.
No one trading system on this world is bullet-proof and works perfectly in all 3 market conditions. As a traders, we need to develop (and test of course) each Trading system for different Market condition. Even sometimes the 2 Systems may give you an opposite signals, that's fine, with controlled SL and good Win ratio, you are always Winner.

14 Apr 2008 ....................... 62 pips
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14 April 2008 ...................... 110 pips
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More than just a brave trader. a man that shows his acc has nothing to hide. A honest person. I have known piters for a while now and its a pleasure to know him. This man is one of the best traders i have known, and i hope he becomes a 1kt trader very soon, not that he expects it but for some reason 1kt traders are taken more serious and piters is someone that should not be ignored. the man is very inteligent. Thanks Batka for what you have taught me.

15 April 2008 ...................... 155 pips
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Next levels on GY: I expect that this rally to stop @ daily 100sma 211.296, also Fibo extension 2.00 of last swing down from 204.569 to 198.1276

But from the other hand, here is another one: