ace's trading diary

I will put my live trade calls on this journal, leaving commentary as trades happen for the sake of keeping record of my train of thoughts. I basically like to trade exhaustion of trends whether it is in the very short term or on swing trades that can go over the weekend, I figured it was easier (at least for me) to approximate when the trade is done then trying to guess when it will start. I know it sounds like the exact same thing but believe me, it is not.

Here I will post mainly my short term trades, I will try to have at least 4 session a week. my schedule at work is never fixed so if I work a normal 9 to 5 i will wait tokyo open and trade AUD/USD till around midnight EST, If I work evenings i'll try to get in some action for the NY London overlap trading either EUR/USD or the DAX, depending on what looks better. For the rare days I will have free time in the afternoon I will trade either the DOW, SPX, brent or wti depending on whichever looks best at the time. I will always focus on one instrument per session. I will also evaluate performance weekly during the weekend by posting a link to myFXbook.

I have a degree in finance and I'm on my way to getting my cfa designation, but theory aint everything and this journal will aim to breach the gap between my theoretical knowledge of financial markets with my practical ability to trade it, and to document the process along the way.

I dont expect a lot of people to comment as I do not claim to be profitable yet and I realize that the way I trade is not what most forum member are interested in but if you want to comment please do, especially if your views contradict mine, there is no point to talk about things that everyone agrees about. just please do it in a respectfull and meaningfull manner.

went long aussie half a mini lot, 19H57 pm. trying to built a position towards the bussiness confidence report later on, positioning myself long seemed the way to go, if things get shady around 9H15, 9H20 I will scratch the trade




Update: 15 minutes before news release, will hold on the trade and react accordingly when the figures is out

Update 2: news release went my way now debating whether to ride or take profit

I trade live from OANDA, If someone could tell me how to directly save a chart from their web platform into a jpeg or any image format that would be nice.

closed trade with 13 pips minus spread. PA not clear, will evaluate going short, probably wont, not much happening. Happy with the result, got in with almost no floating DD, exit was not clear, had no feel for the PA after the news release so I just got out. Price now seems to push higher... but anyways, picked the bottom right, cant ask for too much.

Won't be trading for next 2 days, will be back on thursday for probably the whole US sesh, job interviews on top pf my current job will keep me busy till then. I have a small long swing position in EUR/USD that will keep my acct working till then. Got in at 1,35907 today at around 4pm EST, will look to bail out of the position if any significant close happens under 3500, if the 35s holds and price get rejected again I will look to average down, will look to take profit in the mid 37s if ceteris paribus (flashing some latin knowledge here :nerd:blush:.

long oil at 106,149.

update: cut trade at a loss re-entered at 105,97... would have been better not medling with trade at all

update 2: 3 trades, 2 longs, one short in a span of 45 min for a grand profit of 1$... at least capital is preserved but trading form was pretty bad, lucky to be out without damage, will post chart for record keeping. I'm off for the rest of london US overlap, will see what US afternoon has to offer, will probably stick to oil wti.

reserved

short WTI 106,212

update: trade closed at 106,143, trade taking too long to develop, main longer term trend is bullish, will not push my luck against it, was looking for a quick reaction did not happened, closed at a small profit.

OUTLOOK/PLANNING
WEEK OF THE 08/11/2014

I will look to to go long EUR, CHF and JPY as they seem to have started to tick upward last week, CAD might start to turnaround, too soon tell, will keep an eye on.

On the weak side the aussie will be my main focus. The USD might be up for a correction but it is a little premature to say with confidence, will look at reaction to news release for hints. will keep an eye on GBP and NZD to see if they keep on sliding or start to show some signs of strength.

I will try to get in long EUR/AUD or short AUD/JPY. A lot of EUR news including Prelim GDP for Germany and France are due mid week. Hopefully I will be able to get a good price to be long EUR/AUD before then. Ideally will look to buy at 1,435 before wednesday, but I will stay flexible, will see how things develop. Might short AUD/JPY around 95 depending on how it reacts to that level. In both case price might run away from me but that is fine, I will not chase unless material change happens. I have a feeling that a short setup for USD/CAD might be in the cards soon, will wait and see.

Concerning my scalping/short term trading I will focus on the start of Asia. I now have a standard 8h30 to 4h30/5h job so I really do not have much of a choice. I watched AUD/USD for a while during that time but I really dont like it, most of the time it barely moves and when it does it just breaks out out of the blue shifting from no volatitily to a shit load of volatility to no volatily again, leaving you stuck if you were on the wrong side of the trade to start with (same thing with UJ and AJ). So I decided to watch copper instead; the ratio volatily vs spread is much better. Will see how it goes, will start small and prudent. Will also keep a eye on EJ and WTI.

Hopefully I will end this week in the green. This year, starting January, I returned 12% by trading here and there but now I feel I have to switch gear and commit to that trading thing so it becomes more then a thing. Timming is right. My account is rather small but that does not matter, will keep the funds coming in (contingent on performance) as soon as I finish paying up some small amount from some debt.

Dunno if I can post link to myfxbook or if there is some kind of rule against posting links like that, will look into it.

Short AUD/JPY @ 95,193, long EUR/AUD 1,43804 at 7:31.

update: small floating DD on both trade, will reevaluate tomorrow morning.

USD/CAD NZD/USD AUD/CAD seem to be at the turn of the tide right now, will keep a close eye on them, Short USD long CAD,NZD

long on WTI for a short scalp/short term trade @ 97,490 at 19H27 EST, lets see what Asia brings