hareanone's Plain, Clear and Simple Trading journal

Hi everyone,

This is me:

1. 23 year old guy from Singapore
2. been trading for about 2 years
3. uses price action to trade
4. I absolutely believe that messy charts with gazillions of lines and indicators make trading only more confusing and difficult
5. That's why you will see that my charts are simple and clear
6. You might have noticed by now - I like to use bullet points
   
7. more to be added on later

Please visit my journal and I hope we are able to learn from each other!

1. Right now I am looking at GBPUSD
2. Waiting to enter
3. wants to see the price shoot down and then back into the channel for a higher chance of winning
4. if GBPUSD breaks the channel downwards, I will look to enter into a SHORT position when it comes back to the 1.555 level for a retest

http://www.sgtradefx.com/wp-content/...M-gbpusd-1.png

I like it. Similar to how I'm trading at the moment: 1 support, 1 resistance each day and taking the breakout (has to close outside on the 15m and retest the s/r line), trying to not let my bias get in the way of what is really happening.

P.S good luck with your journal

1. For these two pairs which I am watching - USDSGD and SGDJPY, i am trading them based on LOGIC and COMMON SENSE
2. right now, the Sing Dollar is very weak as compared to the YEN and the U.S. Dollars
3. seriously, I don't know what are the reasons behind this weakness
4. I only know that the U.S. dollars is now "magically" strong and it will begin its decline soon again (there's just too much U.S. dollars out there )
5. YEN is SUPER strong now. This is bad for Japan's export. Therefore the Japanese government will definitely do something to weaken it.
   
6. To me, this current situation can be likened to a $100 bill lying on the floor. If you don't take it, it will soon be picked up by someone else and the opportunity will be gone.

http://www.sgtradefx.com/wp-content/...-AM-usdsgd.png

http://www.sgtradefx.com/wp-content/...-AM-sgdyen.png

Thanks! Great to know that there are fellow traders who trade in a similar style

1. Looks like GBPUSD broke out of the channel
2. If it shoots back into the channel strongly, I will go for the long
3. if it crawls back and touches the 1.555 level for a retest, I will go for a short.

http://www.sgtradefx.com/wp-content/...bpusd-fail.png

1. Will skip GBPUSD for now
2. price action is kinda messy to me
3. and risk-reward ratio is not good....

1. USDJPY broke out of channel but failed to stay outside of it
2. Fell back into channel and therefore will go for a short

With reference to the previous USDJPY trade:

 

1. limit sell order is triggered
2. took on a side bet due to favorable candlesticks formation on M15 chart
3. total risk is now 1.16R ( please read Van Tharp's R-multiple)
4. stop loss for side bet is very tight. If price action does not act in a bearish manner, I will close my side bet very quickly and swiftly.
5. However, if USDJPY is indeed very bearish, I will be able to get higher returns for this trade

1. I did some scalping
2. took profit too early ( well, we can never catch the bottom, yea?)
3. will re-enter when USDJPY goes up later
4. I can't really say for sure, but when price plunges down very quickly, it will tends to bounce up, before dropping again

1. Finally, I see a chance to enter into GBPUSD
2. Saw two pinbars
3. I like pinbars because they means that there's good support/resistance
4. Entered LONG GBPUSD
5. Take Profit is at 1.5534
6. Stop loss is slightly below the bottom of the pin bars

1. Price action looks kinda weird to me
2. closed the pending order
3. going to sleep now

1. stop loss activated
2. ok, on to the next trade!

1. the chart on silver shows that there is a strong support below the 29.46 level
2. for me, its time to LONG silver
3. I do not have a short term price target because I am ultra bullish on silver and gold in the middle-term

1. right after I entered a LONG into silver, it literally crashed down but again, was supported in the $29 region and bounced back strong.
2. looks like it will continue to move upwards

1. saw a 5-wave movement on EURUSD
2. right now it seems to be in the process of going to point A ( as in, the ABC wave which comes after the 12345 wave )
3. will go LONG when it retraces and turns around at point B

1. looks like EURUSD is still in the process of establishing a point 5

1. GBPUSD is in a downtrend
2. broke the uptrend support line and crashed down
3. wait for retracement
4. then go in for another short when the new trendline is broken

1. instead of retracing, GBPUSD shot back into its previous channel
2. looks like a double bottom is being formed.
3. will be taking LONG trades when signals arise

1. all the pairs seem to be reaching a turning point
2. but now would be too early to take a position in the other direction.
3. will wait for a reversal signal before taking a position
4. looking at GBPUSD, EURUSD, SGDJPY