Feist Beginner Journal

Decided to start keep an electronic journal so i can visualised my charts. This is a journal that is similar to the one i keep physcially. It is purely for my own personal consumption only.

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Dec 2007
another confusing period from Beginning of Aug -Oct. I was feeling restless then. Before that i was focsing on 4hr charts based on Philips 4hr method. I do have good results combining his method and PA. From him i learnt more abt "market emotion" esp on uses of MAs and good trading advises.

However maybe the market changed or i changed... i started to miss out the signals after signals. The signals happened during my work hrs or when i am asleep. I started to feel restless. I started entering trades recklessly and the results suffered. No surprises there. And yes it live acct.

Feels sucky then. And its been just over a yr since i stumbled upon FX thru' a friend recommendation ("make $$$ with min invest! Stop investing in stocks!")

So i stopped trading live and was lost for awhile. I reflected and realised my best results comes from PA. So i clean up my charts again and refocuses back on PA and using Fozzy/4hrMACD at times to chk on a trade. The confidence is still lacking...but i intend to build it up again as only trading live can help me with tt.


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Main Method: Naked Trading

Minor method: Philips Nel 4hrMACD (enourmous gratitude) /Fozzy (Used at times)

SL: usually 25-80pips (depends)

Hey Ellipses,

Good Luck with u'r new Journal ... Hope u the best , Keep funky, be yourself, no matter what they say

17th June

GBP/USD
Monthly
1) Price hitted high of 2.0045-!!! (High of 1991 & 92) !!

Weekly
1)divergence!!! ->short bias

Daily
1)Overall uptrend
2)Price bounced off LTL as expected (fri15th)
3)MAs confluence-!!!
4)MACD - possible TC
--> Emotion building up

4hr
1) Possible price will be stuck ard the boundary of LTL and MAs- ???
2) MACD- weak signal strength


What now?
- No signal. Wait
- Short Bias for scalp on pullback.
- Long during pullback/MCAD signal (no signal yet)

EUD/USD
Monthly
Uptrend
Double top!!

Weekly
Current dwn trend with support at 1.3365 + median line

Daily
Dwn trend with shrt term long after wed-fri as price touches LTL then.
MCAD :RB (up)

4hr
MACD: up
Possible price moving to 89/365ma - TTL --> possible quick scalp CT (20p)

1hr
Price barrier:200
Double top+hammer
MACD: RT (dwn)!!

What now?
Possible quick scalp CT:20pip.short.
Mid term: shrt bias
--> Watch price action for sign of weakness
--> Wait for price to be exhausted/ hit TL resistant

do you trade at weekends?

Hi BGazzoni
No Trading over weekend only to prepare oneself for the coming week. I do mostly intraday trades.

MizZu_X7
Thnk you. I try! still a novice.

USD/CHF
Monthly
In a range 1.2562 - 1.1962
Possible H&S forming??? If price breaks thru, will be an up trend

Weekly
200ma as possible resistant
RSI:up
MAs crossed:up

Daily
Double top (TBC) --> dwn
MACD:RT (TBC) --> dwn
Near price exhaution area
Caution: Strong up trend. ALL CT trades shld be tight

4HR
Resistant 1.2466
Price touched 21ma
Top TL

What now?
No signal waiting for confirmation.
Short bias.**caution**
Up trend maybe exhausted--> look out for shrt signal on daily. Once cfm, will be shrt bias

-------------------

USD/JPY

Monthly
- up
- Price near Median line/TL

Weekly
MACD: Possible TC signal (TBC)
RSI: Resistant (short)
!!! Strong momentum. If price breaks 123.58, it be a upside of 128-130 of top TL!!!!

Daily
Up trend
Touched top TL

4hr
Top TL--> possible shrt signal
MACD: Double top **caution due to strong trend***
Doji.Wait for further confirmation.
Possible morning star formation

What now?
A strong up trend. CT trades shld be reconsidered carefully.
Scalp: shrt --> wait for further confirmation beside doji.
Mid term bias: Long. Wait for more signals.

Have been a really bad week this week after a good start this month. This week only 1 poor call (YEN) the other 2 were correct trade calls. But either made a few pips or let winner become loser due to my own stupid mistakes.

Trades
Shorted CHF in early week -> 10pips (Target was 30p but closed early due to my own human error. Wasnt familar with my platform.)

shorted JPY - bad mistake...should have know better since it have been in such strong momemtum..

shorted EUD early this morning pips -> Call was correct. but human error i thought i ;ve closed the trade for profit. Turn out the order was never sent! By the time i came back to chk on the trade, the trade had turned against me. Urrghh...

Recap on the week
1) Need to remind myself to trade with the trend. somthing that i really need to work on....
2) Do not force trades.
3) To be familiar with my platform and more careful on. Always check check check.

More pips less human errors next week!

Total pips for this week= -24pips

Cable
Strong up trend. Be cautious of the monthly 3x top at 2.0115.
Action:
Short bias. Looking for sell signals backup by price action(candles) + MACD.
Buy if price breaks thru main weekly resistant backup by 4hrMACD.

Giving EUR/USD and Cable a miss. Too late to go in. Staying in the sideline and wait for weak signals.


Watching USD/JPY and Swissy.
Yen
- Buy Bias

Swissy
-short Bias

Have been missing signals (4Hr)...hopefully July will be a better month then June!

Pipping ahead!

Watching YEN closing today
Looking to go long at the lower TL @122.12

EUD/USD
Short bias if there a good signal if not will be Trend continuation.

4th of July holis is coming...so the market will be more volatile. Beware.

Updates
Yen
Yen touched bounced off from TL and touched 8ema.
Note that the 8ma is touching the TL as well. High probability trade for long YEN. Possible that once it bounced from the TL, it may aim for the 24ma. Shall see.

Eur
Eur Touched and bounced off from the 8 ema. The trend is strong, so i like to see a strong signal like morning star, or hanging man before committing to any reversal. Unwise at the moment.
Scalping EUR (buy) at the moment.

See how the trades goes.

EUD/USD
- no action.

GBP/USD
-Short. 2.0123, TP1=1.9889 TP2=run

USD/CHF
-Scalp Short. Looking for entry. Possible long in midweek?

USD/JYP
-Long (still in the trade), looking for re-entry on pullback to 21ema

The EUR/USD and the GBP/USD are heavily correlated so be careful taking positions in both of them at the same time for you might be exposing yourself to an excessive amount of risk.. and the USD/CHF is negatively correlated to the EUR/USD, so all in all I would cut it down to maybe trading one of these pairs, pick your favorite, the one that fits your trading habits the best and ignore the others.

Hi superdezign,

Thanks for the comment. Will take that into account for future live trades. I have not trade more then 2 pairs in a single time and try to take trades that i felt most confident in. Still very much a novice...will be patience and fine tune my craft.

Thanks again.

Cable
Ealiar yesterday i meantioned shrt bias. I still am.

But early in the day, i decided to took a long on cable due to the 89ema bounce off and MACD signal.

long 2.0102, SL:20081 TP: 20149

My journal entry @gmt0000 (entered here later when i got back from work)

EUD/USD
- Skip. Cant see a clear direction on my 4hr chart. Still in the range. Daily stoch is pointing dwn, but i need a candle formation to confirm. So zero action

Cable
- 4hr pointing upwards althought still in range box,
-daily pointed upwards with a weak spinner/doji/evening star, so the upward surge may be limited. Probably only towards the multiple years high.

Action: going up. my sunday analysis didnt really stuck for long as more and more clues pointing upward surge. (*if cable gg up, so will EUD although EUD didnt not a strong sign)

UPDATE: Cable went up.

YEN
- 4hr signal dwn although 89ema is still below it. Previous day strong engulfing candle is a signal of things to come...
Daily - pointed dwnwards, with stoch supporting it.
Yen is gg dwn, probably towards the lower trendline...then up again? we shall see...

Swissy
- No action.

- Yen and swiss is kinda of correlated. Swissy is pretty mixed in terms of signal. But if YEN is showing strong sign of dwntrend...so will swissy.

UPDATE: DOWN


Conclusion
There isnt any live trades today even though i made a quick analysis very early on. Still not confidence in my analysis and system...will work on tt more (mental mental mental!!). Hopefully the demo will add on to my confidence level

I going to try using break out order, when there are signals on direction even if the market is in small tight range. I realised i always forgo a trade when the market is in ""rectangle box range"". With better RR I think its worthwhile to enter live orders probably starting with 1mini lot. Doesnt hurt to practise live.

Back to YEN at this moment.

CT trade. Long yen at 1.21.7, SL-121.45, TP-122.2

1 position closed for 30pip gain. another one to run to 122.2 or abv.

Missed this trade set up for quick scalp. Again eyeballing habit! FOCUSED FOCUSED FOCUSED.

anyway to remind myself here wat i see now.
TC signal supported by candle formation.

Got my 1st loss today.

Short cable(-30pips) 2minilots
Reason being:
daily double top and doji
4hr : MACD RB formed.

The cable being having a strong momentum...i shldnt took the risk looking at the MAs. Again i fell into the deep hole of wanting to catch tt big reversal moves. It one of my major weakness.

Urghh...

Cable
Daily
- double top, doji..possible retracement before further upward move
-Stoch in overbought area, possible crossing

4hr
- MACD rb

YEN
Daily
Mixed, indecision
-Hirami, possible TC of dwnward move -> bearish

4hr
-MACD RB

CHF
Daily
-Hirami, dwnward move
-Mixed emotion as YEN (co-related)

4hr
MACD - RB

EUD
Daily
-Bullish engulfing

Action
- Short cable
@2.0304 & 2.0317
SL 2.0327 & 2.0347

Lesson learn for this trade:
EUD and GBP is correlated, the different readings shld hv signal me that i shld skip this trade while taken the yen and chf which is all brearish signal.

Live another day.