Road To Nowhere

After realizing that I had started my first journal (https://www.forexfactory.com/showthread.php?t=765090) here at forex factory about two years ago I decided that it was a failed attempt at was I was trying to do...which was to document my trades and subsequently my learning process . Although I met some good friends there and had some really valuable discussions (lots of good stuff on pattern and price structure analysis), upon re-reading it I feel that I didn't do a very good job at keeping track of my trades (which was the intended purpose). I didnt keep very good track of entries and resolutions of trades and I was constantly jumping back and forth between demo accounts and live. This will be my second humble attempt at a trade journal where my trades and my psychology behind them are the main purpose.

After going back to demo for a few months to refine my skills I want this journal to be all live trades. I will be trading with a small live account (micro) and documenting the process along the way.

If anyone has any questions about my trading style you can find it at the beginning of my first journal provided in the link above.


Without further ado---It's time to take off the training wheels and see where this road leads to!
So let's get down to trading folks!

I was thinking about funding a new account and starting with a clean slate but I have decided to pick up where I left off with this live account that I used for my last thread. See if I can turn these stats around...

bot 1.0902 x .01- scout


h1 trend is up and bouncing off the trendline.
scout entered when double bottom formed.

squared 1.0910 X .01 = 8 pips

scout brought home

scouts out

eurusd

sell 1.0831 x .01


AUSUSD

sell .6440 x.01

euro scout bleeding...it double bottomed right after entry now is -20 pips deep
those up bars were strong and swift so bulls may be at this level... not seeing much of a reaction from the bears so maybe the tides are turning....

I scouted right at hourly support so I may cut loose the scout.
but I may send in rescue squad as we are in C wave of an abc correction... this is all depending on her pulse

sold eurusd 1.8444 x .01====scout 2

killed euro scouts....feeling wrong direction/ timing.

sell 1.0831 x .01 = -28 pips

sell 1.8444 x .01 = -15 pips

total pips = -43 pips

cutting aususd scout here....totally wrong timing....off to a bad start today

making some pips back from the trapped bulls in the red box

closing these scouts here to book some and watch bulls reaction

+20 pips

+16 more pips

not a fan of being in and out like this but taking a cautious stance

closed usdjpy scouts -

+6 pips

ended today with -1 pips

Hi Dustin

good luck with the new thread my friend always good to see people documenting their trades with lots of charts to explain.

not at the computer much myself ATM, trying to get some other stuff sorted/done, not good for me to try to do other things and trade, so stepped back for a while.

just the last couple of long term trades left and managing them now and again only.

take care

Regards

Phil.

put scout out on usdjpy ...it just broke the low on the daily today, h1 is trending down. I will probably just leave this scout in as an overnight and see what he reports back to me.

woke up this morning to find my scout trapped deep and dead in waters.

H1 is entering an area where I believe to be lots of trapped buyers.... watching the PA to see their decision




I must admit that my mindset is slightly disturbed by going from demo back to live. the demo account that I had was much larger than the live account and therefore I could afford more strategies in situations like this. thats why a lot of the times I would leave overnight scouts. I probably wont do that in this account again until I have foreign capital. plus it gets more costly to "pace the hourly" in both time and capital. I gotta stick to the 5min flow.

now two scouts bleeding heavily. definitely trading against now flow...fti would whip me for this one...3ks are bullish dollar so I am definitely trading against the market...there's this nagging feeling that they are stalling out though. I need to square out and work on my mindset... this journal is off to a terrible start





biased and rigid... closing all here

total: -70 pips

i had flipped to trade with 5min trend. and got caught again...

removed the two scouts and tried to rescue...against the move I was expecting when I was trading south



pretty much broke every rule in the book by selling bottoms and buying tops... going against my analysis
probably the worst trading day Ive had. Too much of being a pig. Lots of lessons to learn from this

crazy how much switching from demo to live has affected my mindset

also, how many waves was that up move? and I was trying to rescue after 5th wave??? market whipped me for my ignorance.