Scramble Journal

Starting my own trading journal.

I need a place where put my stuff and be focused on my trading without external influence which sometimes is good but in the same time distract me from my focus. I don’t know if I can disable people from posting in here, maybe there’s a function. If not, posting trading ideas/views/forecasts from other people is NOT the aim of this page so, please, avoid it and respect this one and only rule

That’s it for the 1st post.

I mostly trade in oil, usd jpy, gbp usd.

Trade explorer syncs with my FTMO account, where I’m into a challenge started in January.
I spent some weeks in setting up strategies, volume sizes, risk management and so on, so atm still the challenge is ongoing.
It's clear I was kind of under leveraged otherwise I would already passed it the very first 2 weeks or so.
Indeed later was somehow frustrated and got some losses.

Last 2 weeks got impressive recover from -2% straight to +6%.

What I noticed in my recent growth, is that I see a lot of opportunities I left on the table.
This might be caused by some kind of pressure and lot size management.

The best way for me is entering the trade with 1/3 or 1/4 size and later increase if the direction is correct.
This, however, is not really possible during dumb markets like recent cable where we see daily range of aprox 60/70 pips. I need large moves, that’s why oil is to me the favorite.

I realised this approach in very recent few weeks, after the loss sending me from +5% to -2%, caused by oversized and wrong trades.
In most recent days indeed, losses came, but the equity drawdown is more soft.

Will try to force myself size as follow:

FOREX
Entry size is 50k, with increases of 50k for a total of 2 to 3 lots depending on the instrument.
Scalping max allowed is 2lots

OIL
Entry is 5lot with a second increase of 5lot
Scalping max allowed 10lots.

If I used this size, last week I would have reached +12%

This is extracted from account stats
It tells it all indeed
Interesting to see the equilibrium between buy/sell and where profits came out the most.

Very important factors to notice btw, are the other 2.
As shown, the most profits came from the 0.5 lots trades. It’s been like that since I started this account, being it as multiple entries on a single trade, or a heavy entry followed by partial outs (happened in 1 case with usd jpy).

Another important stats is about the timing : I’m profitable during Ny session, mostly at the beginning. I lose in London sessions and I lose in late evening trades (after London close). This is simply explained because in the morning (London) I cannot be focused and I mostly check chart via tablet while doing other stuff. During NY opening I’m in my desk. While on late afternoon I tend to pick impulsive trades.

My strategy is been developed in oil, which is a large mover, and mostly moves during early NY till end of the day, so no surprise at all.

on cable, I was very profitable until few weeks ago, before the instrument started tightening an already tight range. Cable and oil were approx the same profitability. Then in recent few days I lost some dumb trades in cable, sending it back to parity. The other instruments were just temporary attempts (btw, right trades perfect plan, but executed very bad with wrong SL)

Last few words about the EUR USD which still, after years and years, remain my enemy.
The problem is I tend to consider it as a respectful instrument, while it is not. If it was, price would today be somewhere between 0,6 and 0,5.
So, this will probably be last time it will appear in my stats.

This is another extract from account stats

The more I look at it, the more it looks like any instrument chart with line price and volumes.
And this sentence, summarise it all (…)

Last post for today

i have also my real trading account with Dukascopy, using JForex platform for my trading and where I execute also trades with my own funded money.
It cannot be connected to any fxbook nor trade explorer, but even if it was, I would keep it private.
Anyway, what posted here about the FTMO account, reflects what I do also in my own account.

This because I treat both accounts the same way, with same % risk approach.

REMINDER SETUPS

USD JPY
M30 view


1m action

REMINDER SETUPS

CABLE
M30 view


1m action

got good entry, wrong exit

good good entry, exited at the end of my day
I also was short in early NY

what was not good in this setup was I could have pushed more the size.

Spent some hours in analysing my trade stats.
What comes out is simple:
I am respecting only partially my strategy and this cause wrong trades, stress, pressure, overtrading.

knowing what I was thinking during the facts, the main reason lies behind the useless pressure and hurry to reach a level, without taking in consideration market structure, behaviour and timing.

Have to improve in this or I will hardly be consistent.

looking for it to hold
not a good level nor overall setup
tight SL

would be better to see it >150.04

if fail, will wait a bit maybe a short to lower support or wait lower support.

Running
My entry is still exposed, I cannot move SL @BE yet.
Being it oversized (4lots) will cut 1 entry if goes near 150.245 so to average up my SL

Problem is to eventually see price turning donw, meeting demand, and pushing up again. And this exactly @my entry price.

I'm looking at cable chart.
Attempted a long @ 1.2600 gave up immediatly.
The thing has to meet the 1.2580

I wait.

Eventually a b/o of 2630 also good sign but will probably be involved in cable tomorrow.

Hard decision.
I set SL @149.86 both on live and prop account

The difficult is about being my entry exposed for a possibile move down and be used as a support.
I don't want to see it happening, I hate it!
So, considering a move straight down, the stop loss will act as protection from drawdown, while if price now weakens slowly down will eventually catch what's around and decide if cut it whole or let it run with a very minor risk.

However, considering the whole setup, if price goes down from this 150.19, could mean a move deeper into 149 area, so no matter if stop -6 or 0 pips, price will go lower so better a 0

I let it some few hours till NY ends to see if they can conquer again the 150.25

Looks to me “I drift apart” setup.
Touched the 2583 bid, 9 pips up and fast TF already overbought.
It’s gonna get some stops out before moving.

I keep staying out of it.

Btw, had a clear line on 2630. Was not charting this morning due to some issues

I decided to let the UJ trade running
Stop @Be to protect from downside risk.
Could be a mistake not taking profits but the upside potential is good.
At worst, will have a no cashed profit.
not watching charts, useless since I only look for confirmation of my trade.

Diagonal
which one fits better?
I really don’t like having diagonal lines in charts, indeed I have none. Was looking at this and trying to understand probabilities to see market filling my targets today or tomorrow b4 fomc minutes and jpy news

candlesticks


line chart (close price apparently)

price is right half way between entry and most target.
highest target is higher but will probably exit the whole trade

took out 1/4 position 150.37

Approached a short in cable
Not in desk, based on overall temporary inability to reach above 1.26
i give it a 250$ Sl