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Pip by pip - my trading journal

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  • Post #1
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  • First Post: Edited Jan 25, 2007 4:01pm Jan 24, 2007 6:53pm | Edited Jan 25, 2007 4:01pm
  •  anthonyrae
  • | Joined Dec 2006 | Status: Member | 68 Posts
Hello world,

I've decided that this is going to be my journal of FX trading for a number of reasons, but mainly so that I have more discipline and hopefully receive feedback from the great community of FX traders here as I start this journey.

That is all for now... but will post something later
  • Post #2
  • Quote
  • Jan 24, 2007 7:16pm Jan 24, 2007 7:16pm
  •  iiivb
  • | Commercial Member | Joined Oct 2006 | 1,158 Posts
I wish you become a successful trader!
 
1
  • Post #3
  • Quote
  • Jan 25, 2007 1:02am Jan 25, 2007 1:02am
  •  turbokaos
  • | Joined Jul 2006 | Status: Will take it all off for Pips! | 1,105 Posts
Many pips in your journey to success
 
1
  • Post #4
  • Quote
  • Jan 25, 2007 4:13pm Jan 25, 2007 4:13pm
  •  anthonyrae
  • | Joined Dec 2006 | Status: Member | 68 Posts
My first goal in trading FX with this journal will be to reach 50 pips (not all in one go perhaps, although that would be nice)

One method I will be using for short timeframes (15 mins & 30 mins) is a combination of EMA's and Stochastics to signal trends and overbought & sold areas.

I wil be mainly focusing on the following pairs:
GBP/USD
EUR/USD
USD/JPY
AUD/USD
(but if significant trends develop, I'll look at over related crosses)

I live in Melbourne, Australia so the time is +10 GMT (at the moment it's +11 because of daylight savings)

More thoughts later.....
 
 
  • Post #5
  • Quote
  • Jan 25, 2007 4:21pm Jan 25, 2007 4:21pm
  •  markt
  • | Joined Jan 2007 | Status: Would be... Full time trader | 88 Posts
My experience tells me your timeframes are too short, look at H1 & H4 for trend, but look at M5, M15 & M30 to look at trading the dips...

Best of luck though....!!
 
 
  • Post #6
  • Quote
  • Jan 25, 2007 4:34pm Jan 25, 2007 4:34pm
  •  steviet
  • Joined Jun 2006 | Status: Member | 2,512 Posts
Hi Anthony,

Let me be one of the first to wish you every success with your trading

Kind Regards
Steve
 
1
  • Post #7
  • Quote
  • Jan 25, 2007 7:40pm Jan 25, 2007 7:40pm
  •  WHTenn
  • Joined Nov 2006 | Status: Member | 1,758 Posts
Good luck with your trading and feel free to ask any questions.
 
1
  • Post #8
  • Quote
  • Edited 7:12am Jan 26, 2007 7:12am | Edited 7:12am
  •  anthonyrae
  • | Joined Dec 2006 | Status: Member | 68 Posts
hi guys, thanks for your encouragement and advice !!!

markt - i have not yet worked out a longer time frame strategy or signals to gain from the longer trends, but am looking into it (if you have any tips, please let me know !)

Anyways my first trade for my journal

Open 26/01/07 20:06
USD/JPY 12157
Short

Close 26/01/07 23:06
USD/JPY 12151
+6 pips

yay ! (my dad says i have to turn off the pc coz he can't sleep - so closed it out for 6 pips...lol)
 
 
  • Post #9
  • Quote
  • Jan 26, 2007 10:19am Jan 26, 2007 10:19am
  •  jonesla9
  • | Membership Revoked | Joined Mar 2005 | 134 Posts
Hey Anthony, I just wanted to wish you luck. Looks like you got a good start, so keep it up buddy.
 
 
  • Post #10
  • Quote
  • Jan 28, 2007 7:04pm Jan 28, 2007 7:04pm
  •  anthonyrae
  • | Joined Dec 2006 | Status: Member | 68 Posts
New trades today

Open 29/01/07
USD/JPY 12150.90
Long

Open 29/01/07
EUR/USD 12922.50
Short
 
 
  • Post #11
  • Quote
  • Jan 28, 2007 7:23pm Jan 28, 2007 7:23pm
  •  anthonyrae
  • | Joined Dec 2006 | Status: Member | 68 Posts
Closed 29/01/07
USD/JPY 12158.0

See previous post for opening trade
+7.1 pips

May have closed a little late/early.. who knows but this was a biggish move in a very short period of time rather than gradually moving up, so I thought I'd close it and take the pips - I can always re enter later.

EUR/USD trade still open, reached + 10pips but decided to see where it goes
 
 
  • Post #12
  • Quote
  • Edited 8:03pm Jan 28, 2007 8:01pm | Edited 8:03pm
  •  anthonyrae
  • | Joined Dec 2006 | Status: Member | 68 Posts
Okay, my target (20pips) for the EUR/USD was hit (less 1 pip for spread.. have to remember that next time)

Closed 29/01/07
EUR/USD 12903.5 (Opened EUR/USD 12922.50 Short)

+19 pips

total so far
+32.1 pips

ps... the USD/JPY trade is continuing up, if I was still in it would have added approx 13 pips.. oh well thats fx for you and not sticking to the plan 100% ! looking back, I did take profits a bit early than the TP I had set.
 
 
  • Post #13
  • Quote
  • Jan 29, 2007 12:52am Jan 29, 2007 12:52am
  •  anthonyrae
  • | Joined Dec 2006 | Status: Member | 68 Posts
New trades today

Open 29/01/07
EUR/USD 12905.8
Long
 
 
  • Post #14
  • Quote
  • Jan 29, 2007 6:56am Jan 29, 2007 6:56am
  •  anthonyrae
  • | Joined Dec 2006 | Status: Member | 68 Posts
hmmm.. closed out trade from previous post:

Close 29/01/07
EUR/USD 12908.5 (Open EUR/USD 12905.8 Long)
+2.7 pips

YTD +34.8 pips

I had a TP of 10 pips but because I had to go out and couldn't watch it, I closed the trade early, only to see the price continue to reach my TP about 10-15mins later.

I'm not exactly sure why I did this, but I think it was from fear of losing the trade when it was already in the profit zone. This is not on !!!!!!

I must not do this, because it is not sticking to the plan !! (you leave pips on the table if you do this)

Cheers,
Anthony
 
 
  • Post #15
  • Quote
  • Edited 7:54pm Jan 29, 2007 7:36pm | Edited 7:54pm
  •  anthonyrae
  • | Joined Dec 2006 | Status: Member | 68 Posts
New trades today

Open 30/01/07
GBP/USD 19613
Short

(GBP/USD seems a bit slower moving today than EUR/USD) maybe should have opened a short trade on EUR

Closed out this trade @ 19613 (I had moved the SL to break even... I'm not sure whether this is a good thing or not)

So +0 pips
 
 
  • Post #16
  • Quote
  • Jan 29, 2007 8:11pm Jan 29, 2007 8:11pm
  •  don perry
  • | Joined Jun 2006 | Status: Pipoholic! | 307 Posts
congrats on your pips. Hope u stay disciplined
 
 
  • Post #17
  • Quote
  • Edited 11:36pm Jan 29, 2007 11:04pm | Edited 11:36pm
  •  anthonyrae
  • | Joined Dec 2006 | Status: Member | 68 Posts
New trades today

Open 30/01/07
AUD/USD 7731.5
Short

Open 30/01/07
EUR/JPY 15788.5
Short


Closed AUD/USD 7729.9
+1.6 pips
almost not worth it...lol, but better than -ve !
 
 
  • Post #18
  • Quote
  • Jan 30, 2007 1:19am Jan 30, 2007 1:19am
  •  anthonyrae
  • | Joined Dec 2006 | Status: Member | 68 Posts
New trades today

Open 30/01/07
GBP/USD 19628.2
Long

Closed
19618.5
-9.7 pips

YTD +26.7 pips

I also accidentally opened a new trade when I was supposed to closed the trade above !

Open 30/01/07
GBP/USD 19621.3
Long

Closed
19616.6
-4.7 pips
YTD +22 pips
 
 
  • Post #19
  • Quote
  • Jan 30, 2007 1:40am Jan 30, 2007 1:40am
  •  anthonyrae
  • | Joined Dec 2006 | Status: Member | 68 Posts
Closed 30/01/07
EUR/JPY 15782.1 (Open 30/01/07 EUR/JPY 15788.5 Short)
+6.4 pips

YTD +28.4 pips
 
 
  • Post #20
  • Quote
  • Jan 30, 2007 3:26am Jan 30, 2007 3:26am
  •  markt
  • | Joined Jan 2007 | Status: Would be... Full time trader | 88 Posts
try to trade with smaller lots. Looking for trend in minimum H1 charts. Try trading H1 with a 25 pip stop loss. Allow mentally for a 25 pip loss. You will be surprised if you have a indicator in place that will give you the H1 trend, even a simple MACD. Try it.
 
 
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