A Trade A Day Keeps The Job Away

Hey everyone, I have been trading Forex for over five years now and have primarily focused on price action.

For this trading journal I will be placing one trade per day no matter what. After trading for several years it has become clear to me that emotions and psychology are just as important as understanding the markets. Scalping for me personally does not work as I do not react well to fast paced winning and losing in this hectic market place.

What I will be doing to put less psychological strain on myself is placing one trade per day by going through all my charts during the Asian session everyday. I will then place the best trade I see available based on price action between 8 P.M. - 2 A.M. C.T. with a stop loss and let the trade run with a candle trailing stop.

Here is my first example of a trade I put in on Wednesday night, I am currently up about 40 pips on the short:

Here is a trade I put in on Thursday night, which due the holiday has not moved yet.

My trade today is going short Brent Crude Oil:

Alright here is my trade of the day, short silver. My other 3 trades are currently in the green, they are longer term trades:

Before I go into trade of day, I closed out UK 100 trade:

I risk 2 % on every trade I do and I made 6 % off of this trade, so I am currently up 6%

Trade of the day: Going long AUD/CAD.

All other trades are in the green currently.

Trade of the day: Going long EUR/GBP

Closed EUR/GBP this morning with +1 pip profit. Did not like initial trade that much (was the best I saw) and it wasn't moving well. Still up +6 %.

Closed out cad/chf trade for +3.5% profit, currently up 9.5 % in total.

Trade of the day short eur/cad:

Can you explain this trade?

Sure thing, so in that picture I sent you will see there was a nice 1 hr bullish engulfing bar with some momentum upwards after, when you go to 4 hr there had just been a (sort of) 4 hr bullish engulfing bar up as well. When you go to weekly you will see that there is a MASSIVE head and shoulders for EUR/GBP, and both of those engulfing bars had formed after trying to break the neck line of that enormous head & shoulders.

The reason I didn't like the trade that much is that there had already been a good push upwards after the 1 hr engulfing (how much could be left?) and the 4 hr bullish engulfing bar was pretty weak. However, in order to break a huge head & shoulders like that is typically takes a very strong push, even May's announcement for an election did not get that done. I put the trade in about 20-30 pips from neckline, I figured it would not have the strength to break the neckline the night of my trade, and I was right. It went down tagged the neckline and shot up about 50 pips. I was planning on closing around 11 a.m. C.T. however unfortunately it started diving back down.

Basically between the strength of support with that neckline and the engulfing bars I felt decent putting the trade in, it is still my least favorite trade of this thread.

Went ahead and closed out short brent crude trade:



Made 6.5% off the trade, currently up 16%

Alright I have been busy with other things. I am bringing this back except I may not be doing 1 trade per day, maybe only 1 or 2 per week. My trade for the day is long NZD/CHF.

Got out of nzd/chf trade too early for break even.....now look at it.

Just went long gold.

Closed out gold trade, risked 2 % on it and made a little over 2 % return. Could have held for longer but wanna be flat over the weekend.

Hi rafael, you have such an awesome strategy, look at how your account growth! That's fantastic!
Could you share us the way you analyze the market with chart as examples, what is your strategy? thanks

and Good luck as always