My GBPJPY Trading Journal - Trading from level to level

Started this trading journal to keep track of my past trades, to keep me discipline and improve on my trading.

I welcome all feedback, we can learn together. And please keep this thread clean. Thank you.

P.S. Do not request indicators/EA from me as there are similar indicators/EA out there which can be found easily.



Happy trading!

Hope it goes well.
I assume your familiar with this?
http://www.forexfactory.com/showthread.php?t=88949
if not its a good read even after all these years. One of the first threads I read on here many years ago when I started trading before i became a member.

Thanks Spoon138, appreciate the golden thread you have shared. I have been a big fan of Greg since I started trading and have been trading his method since, I believed you can see some similarity in my strategy. However, I lacked his experience and confidence to hold the winning trade longer and closing the losing trade fast. I also noticed the GBPJPY is no longer as volatile as compared to his prime times, hence making it more difficult to achieve the desire result. That's the reason why I came up with a strategy to counter what I am lacking while keeping his core methods in trading. I will be improving my strategy as time goes by and adjust according to the market condition. Hopefully I can find my own style of trading.

This trade was taken just 3 hours before new pivot. Bad timing. Waiting for next opportunity.

A lucky trade and a lesson learnt.

Got burnt chasing the pips after news.

I'm just happy that you are well aware of the thread. I hated the thought of someone trading gbp/jpy in a similar way without knowing about greg. I always used to revisit the thread when I was losing faith its real gem which spans a large time period.
My trading style is completely different to yours and greg's but all strategies are built/ borrowed from somewhere to an extent and without that thread I wouldn't be where I am today.
Good luck.

Thanks Spoon138, I have downloaded the entire thread as PDF and reading them whenever I am lost. Good luck to you too.

Hi,

I would like to understand how you are approaching this. Are you trying out different strategies at once and finding the most profitable one or just sticking to one strategy and slowly refining it.


Cheers,
Bryan

A battle won.

Hi Bryan,

This thread is about one strategy - Trading from level to level. I am trying to improve this strategy especially the entry point and the stop-loss.
In the past, I have tried many different strategies and found none working well for me consistently. So I have decided to come up with my own, while keeping stuff that I have learnt from others which are working for me.

Happy trading.

Nothing is better than a great momentum on the right direction.

Two rush trades, trying to catch a reversal but got burnt instead. Never do it again!

I see, then i have one last question. Because i have many different strategies, it is important that i track which one is most profitable for me to use. Is there anything you would recommend for me to use that would help me track these strategies most easily.

Cheers,
Bryan

Week #1 review

Oct 06 #1: +303
Oct 07 #1: -301, bad entry and bad timing
Oct 07 #2: +354
Oct 07 #3: -300, bad entry or a larger stop-loss would save the pips, target-profit was hit later
Oct 08 #1: +398
Oct 09 #1: +302
Oct 09 #2: -302, bad entry or a larger stop-loss would save the pips, target-profit was hit later
Oct 09 #3: -300, bad entry or a larger stop-loss would save the pips, target-profit was hit later
Total: +154

Decided to keep my 30pips stop-loss and improve on my entry point first. Hope next week will be better.

Not sure how many strategies you are using and how many trades you are handling at a time. You might want to use a separate trade explorer for each strategy or you can use excel spreadsheets. But if you have more time, then a proper trading journal with chart and reason of taking the trades would be much better as you can review them later and adjust your strategy.

Happy trading!

What a roller coaster ride!

Last trade from yesterday.

A missed and a hit.