Day trading journal using THV
I am trading with Cobra's THV system with mixed results. I lose the trade when I break the rules or when I make poor decisions due to fatigue or stress. Overcoming these is proving very difficult. But slowly I think I am getting there. So far I have blown my live accounts too many times, but still not willing to go back to demo. I have invested far too much interms of money and time. So I am determined to succeeed, but confidence slightly fading away.
I would like to post my trades here. I should be obliged if any experienced trader seing this thread could comment on my mistakes or good decisions. I intend to run this thred for a month. At the end of the month, if I do not have profit, I will close the thred.
I will post my trades from tomorrow. All the trades win or lose.
todays trades 09-03-2012
Started trading at 8.30 am (GMT). I only trade EURUSD. My view is that once I become consistantly profitable with this pair, then I will try end trade other pairs as well. However right now focussing on one pair seems challenging.
The price was moving sodeways until 12 noon. I was sitting patiently, almost watching every one minute candle. Dissaster happend at 12 noon. Became impatient and took a trade.
When I took the trade it appears that 5 min trix have already crossed and the fact trix was flat. I thought it will move down in the direction of 15min trix. the reason being that there was a fresh trix cross in 1 min chart.
Managed get out of it without too much damage. Loss 2.3pips.
I read it somewhere, I think its on James16 thread that let go past all the 'A' grade tarade setups and wait for the 'A+' trade. surely this is not an A+.
So, how did it go? Did you end up making money at the end of the month? :-)
Sorry, I am not continuing this. I find this as a distraction. so fucussing my small brain on the trading and chart setup. But I feel that everyday, I am improving and getting lot more diciplined. But there are few trades I have taken on a regular basis where If I had been cafully applying my knowledge, I would have not entered.
Good luck with your trading.
Are you still trading using the THV system? :-) If you are, how is the system working out for you then?
If not, what system are you currently using then, and why did you switch?
I am still using THV and profitable. However, still make wrong trades. As explained in the THV thread, THV does not give entry and exit signals but a set up to use with your trading skills. I use THV together with Pivot points, S/R levels and EMA.
Usually THV could give you 1 or 2 good trade set up a day.
One one trade today. Yesterday no trade at all, due to THV setup near news release. There is a new thread called THV system trades and patterns. The THV veteran Miss Pips do post her analysis there. have a look.
Good luck with your trading.
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