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Attached is a list of all my trades during the last week on my REAL account. Please notify me with my areas of weakness, advise me better approaches to the market, or encourage me if you think I've done it right. I'll try to provide you with as much information as possible.<o
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Please consider the following notes:<o
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Attached is a list of all my trades during the last week on my REAL account. Please notify me with my areas of weakness, advise me better approaches to the market, or encourage me if you think I've done it right. I'll try to provide you with as much information as possible.<o


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Please consider the following notes:<o


- The times are in GMT (I use MetaTrader and it uses GMT rather than my time zone which is Eastern time).<o
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- The shaded rows are those trades that tried to use scalping methods to make some money. I was so anxious that I closed them all earlier than I supposed to ended up with little profit.<o
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- I use a four hour chart and sometimes focus on 5 min for scalping and/or entry opportunities.<o
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- I keep all USD cross currency charts open (i.e. AUDUSD, EURUSD, GBPUSD, USDCHF, USDCAD, USDNZD), draw proper trend lines and look for those times that prices either bounce off from the trend line or pass through them. My focus is on intraday opportunities based on trend lines and chart formations. However, I also use indicators as aid tools.<o
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- My favorite indicators are EMA8, EMA32, EMA64, Parabolic SAR, CCI, and Stochastic. I may use other indicators as well.<o
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- I use Fibonnacci retracement for setting my S/L, T/P targets. However, I'm not obliged to those.<o
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- As you see out 10 trades 7 ended up in profit (although only 2 of them resulted in considerable profits) and 2 ended up in loss.<o
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- Some of the S/L that you see on the chart are not my initial stop losses. I either moved the S/L during the trade or used a trailing stop to change it automatically.<o
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- I think use of trailing stop is not always a great idea. For example in trade #6 I could end up with T/P of +39 pips rather than the +4 pips profit.<o
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- I am a full time employee so I have a limited time to setup and implement my trades. <o
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- All my trades are handled manaully. I'm still working on a method to handle trades authomatically.<o
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Okay, now it's your turn to either share your ideas or ask me questions.<o></o
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Thanks in advance.
http://www.cadpanel.com/irr_images/trades-July13-20.jpg