Mamutot's Trading Journal

i have been busy like hell that past few days - and today i was thinking - why don't i post actualy? cause i lost few trades? shame on me - i should post !!

so i will post each trade i took and explain shortly - no pics, just explaining, K?


well:


GBPUSD - buy at 2.0205 - i thought it broke through that level - clearly it didnt, i guess i should wait for a longer break through a S/R level before i go in a trade lost 0.5% which i risked cause i wasnt too sure about that - was trying out since i never play a break, until recently..

next one is:

AUDCAD - was trying also to get a break of that few days that broke just yesterday BUY @ 0.8689, lost 1% - didnt work out well, was to early.


CHFJPY - same as previous 2, waited for a break, didnt come only to other side... SELL @ 95.48 , stopped out @ 96.45 - lost 1% of account.

EURUSD - there was a bunch of 4h waiting to go short - there was also a TBL waiting - it broke well, about 30 ips if i remember right, but then came the news - i wasnt aware of that - why? i didnt have time to watch the trade, was in china cause of the job i was used to do until last week, learned from it too...lost 1% of my account - YES, LOTS OF THEM!!!


next - EURCAD - 4h pb on the bottom, didnt wait too much for it to break, lost it all without a chance to BE, lost 1%

NZDUSD - 4h PB on a resisntance level with confluence - didnt workout..
what can you do about that????

well i came all the way down to about 2970$ in my account - lots of losses..i know...
i was thinking - did i take the best trades i could? NO! - would i take them again - YES!

so what was wrong??? i didnt have the time to manage them...

they were cool, even good - not talking about those that went against me from 1st second...

next time i have too monitor my trades - lesson learned, you will see later in this post.


well - nnew week arrived, and i have never played those gaps - didnt know how...i said why not-lets give it a shot - i simply enterd 1 mini-lot on each gap i saw that could provide about 20-30 pips for closing the gap, few went against in the begining but all finished profitable - 2 with 2$ each - nothing, i know..one with 28$ which is about 1% and one with 16$ - that brougth me up a bit..up to 3029$..which is still far far behind my months target but hey - that why there are demo trading platforms.. now i am in 4 more trades, the 1st is the AUDCAD long that broke yesterday,

i took it like this:

BUY @ 0.8760

SL @ 0.8689 - just below the very 4h bar that broke upwords..trasiling stop by 4h chart.

took 2% risk on this one, currently up with 50+ pips, waiting for something serious to happen in the upward direction - hoping..it stalls pretty much on the 365 ema on the 4h...interesting.....

later on i tried something i have never tried.. the base - oooo...spookyy..at least for me...i never was sure of these kinda setups - so i took only 0.16% risk.. - i know...

BUY @ 0.8765

SL @ 0.8730

currently at 45+ pips.


GBPJPY - why dont they call this was the looney..???

went for the 1h base after break of 150 and 365, along with the rising of the EURJPY and its correlation i thought i would give it a shot -

took 1% on that one

BUY @ 232.75
SL @ 232.11

currently - 160+ pips...

and another one based on the 4h TBH that formed and broke out - not quite but we are still negotiating...

BUY @ 234.19

SL @ 233.30 - below the 4h bar..

took that one with 0.5% since i am in with too much risk for this week..

i kinda locked in some profits but it can change - so will update


WOW THAT WAS LONG!!!!!!!!!!!

this post from above - was very important for me

up until now i was the only one excpet for my good friend who introduced me to FOREX - Mark..hey buddy.. - that knew anything about good trades AND the bad trades..

i had to post all my mistakes - a bit too late but well.thats ok..

mistakes happen, you can take a bad trade - but ask yourself, would you take it again?

yes/no - why???

i read that i think in the main forum of JAMES16..Seeking maybe???

each trade is a lesson...


i fiugres that if i manage my trades properly i can make a lot of pips out of it, and i wait for them to run 300 pips and me coming in the room and saying:" hey lets close half the position cause it is good enough and let the other half run" IT WONT WORK OUT!!!

i/you - have to take small profits...

have to take losers in the same way i take big winners of 2.576769898%

who cares?? be consistent with whatever you do - dont wait for the rain to come in order to grow your tomatoes...

there - i said it..

i blew up this month - again, but again i will be in a positive month - concerning profits - that amazes me...each month i make huge mistakes but yet i am profitable - i guess i should only keep learning and it would be ok..


what i am glad about is that once o started to demo - after i was reading a lot of the J16 thread, i knew i had to treat it as a live account before i open one - i feel it right now, it is the same for me - currently i love my demo account!!!!!!!

http://www.forexfactory.com/showpost...postcount=6576

here is the post - i f i had demo for my demo account i would sure take it there - so maybe i would trade it as a demo trade - not something i would take on the live account - why? since it moved very nicely all day long - just scared a bit...

well - entered..


SELL @ 2.3775

SL @ 2.3825

RISK 1%

1h bar countin'

*i wont mind where this one goes - i want to see how i handle it in either way...

one of the positions closed:


0.5 mini lots - 120 pips

provided 1.68:1 ratio..

could have been much more like 50 pips but thats ok..

made 1.68% of the account..back on track..


stopped out @ 233.95

this journal is for people to reply, tell me my mistakes, where i took great trades...and so on


so - c'mmon

i am considering - still thinking of it - to close the 1h pb, and putting a pending order for the break of the 4h since i am going to sleep now...

what should i do???? mmmm.....



well - i moved my stop to a different level above the ema on the 1h chart - dont want a 1% loss suprise me in the morning - thought i would go sleep much later but it is ok.. reduced my loss to less than 0.5%.

and trailing stop


good night all

Hopefully your trailing stop worked out for you

The purple is the 50% EMA I was telling you about.. I tp'd too early @ 3735, the last major support in that price area (not shown)

well - yes!

the trailing stop worked out just fine - it stopped me out at 2.3720 - which is 55pips, meaning i made 1.05:1 on this trade that means, 1.05% on account, could i make more? yes - did i need that sleep? hell yes, it is all about negotiating with yourself.

so:

GBPCHF:

Sell @ 2.3775

SL @ 2.3825

Stopped @ 2.3720

1.05% return



NEXT:

the 4h GPBJPY trade i took - i was stopped out too, but i am glad that i moved the stop before :

GBPJPY;

BUY @ 234.19

SL @ 233.30

Stopped @ 233.65

i took that trade with 0.5% risk

so i lost there - 0.3% on my account

AUDCAD - i am still with those 2 trade, and i added more on the break of the TBH that formed on the 4h chart - it triggered and it is like that:


BUY @ 0.8848

SL @ 0.8790


risk: 1%

0.53 mini-lots


will update

here we go

my account is now open, that is the real test

will i make it? SURE

how long will it take, i dont know, but i am planning to be here for as long as this way of making a living is possible, so you are welcome to join me on my journey.

****DEMO TRADE****



here is a trade i will take - if it breaks the low of the 2 day PB formed on the EJ.

it will be a short one and a strange one too, i will be entering it by pending order at the break of the 2daypb, but i will be looking at a stop on the 4h, and at the S/R level, in order to take profit/partial profit, or for PA.

image 1:

http://i21.tinypic.com/sbkch0.gif


image 2:

http://i22.tinypic.com/2e4ddts.gif



EURJPY:

SELL @ 163.52

SL @ 164.36 - including spread

SIZE: 0.43 mini-lots with 1% risk on last months balance

will take profit at around 162.65 if it shows a PA setup for upwards, and will continue bar counting if it breaks that area.


http://i21.tinypic.com/245lfew.gif

****DEMO TRADE****




nothing much to say - I4B on the weekly chart with fib 38 making it easier to understand why it waits there so long, either it breaks up or down i am ready with an order at the very same point - i want to try it for once on the weekly chart - i always look at setups and for some reason ignore it- i analyze it well after it activates the trade i would have taken and then regret i didn't - so this time i will ry it, thats why demo is for. train myself.


here are the details:

AUDNZD:

SELL/ BUY SL @ 1.1580

BUY/SELL SL @ 1.1801

size: 0.18 mini-lots with 1% risk on each of the trades.


what will it do?? i really dont have much of an idea since i don't have much data on it in ibfx mt4.

will update.


PS - EJ is still waiting for a break of the 2day pb - didnt happen yet.

****DEMO TRADE****





buy @ 2.3955

SL @ 2.3915

0.45 mini-lots risking 0.5%

dont ask me why - i wont tell...i cant..

since i already have my account - my demo account will now be for testing new ideas and improving my skills, therefore i will take more trades than usual so I will actually be using the demo as a filter... - interesting isnt it?

so i take much more trades - ALL TRADES THAT ARE NOT LABELED WITH LIVE TRADE WILL BE DEMO TRADE!!

well, lots of them now:


AUDNZD - weekly I4B - already posted it, just want to say that currently looks bullish but i am not sure about it - anyways, the order is pending in both directions.


AUDUSD - TBL - in a very very high place - once it breaks, it has lots of room to go:

SELL @ 0.8799

SL @ 0.8892 - above s/r

size: 0.33, 1% risk on trade


http://i23.tinypic.com/b6x6dz.gif

well - it did break down but it also went through my stop like butter...

ofcourse that if i had hold it above a bit more i was still in - but i didnt, that was my process of thinking, i dont regret it


lost that 1%, but also made a bit more on 2 other trades.


will update after this week ends - no live trade will be taken until tomorrow's news - i aint riskin' a penny for that...


SEEYA

well - my account is fully funded, it had 250$ in it for start cause there were holidays here , and i took 3 trades already with that amount.

now it is funded with 20303$ - weird number, i know..but they took comission and stuff.


i wonder - if anyone is reading this journal:

would you prefer me to post right when i see anything i am considering to play or to record the whole trade and then to post it and discuss it??

if no one will answer i will make a decision by the end of this week.


btw - it is so stressing to have an account, so i think i would treat it as if i have only 500$ in it until i get used to losing some winning some.

few days/weeks...

ciao

well

the 1st day when having the 250$ in it, i was really nervous..thinking how will i do, will i take good trades? will i win? will i lose?

luckily i entered 2 trades with the lowest size i could - according to 1% risk, i won one, lost the other, but it made me feel relief, made me feel as if this was the same thing as the demo i was doing for the last six months, few weeks less , few more, but thats what i ave currently, i am not capable right now to do it full time.

now, i will try to post trades i take/took/will take, but i now understand that this is a lonely position to be a trader, you are on your own.
decisions, thoughts, mistakes, success, failure, it is all yours
try to leverage that and you will leverage the money correctly.

so, GBPCHF was a tough trade, but i am still in due to smart positioning of the SL level, it is still ok - and i hope it will continue to be.

i sort of entered at the break of the IB , but placed the stop not under the IB low - just a bit above a EMA

!st, i have to be honest, i got this i dea for someone else which i dont quite remember but i think is Nickname is Soso Beton (???)

anyways - i dont know why but i looked at something he had posted and it directed me to another blog he has - and i saw that he gives marks to his trading week , 7 out of 10, 8.5 out of 10.

I LIKE THE IDEA!

i decided to develope a nice thing of my own - it will be colored marks that are translated to numbers.

Example:
http://i20.tinypic.com/5d2i48.gif


Green is a very good trade - by the way i picked it and the way it manage(!) it, after all you can take losers and win Euro 2004 with them - I love Greek people, don't get me wrong, but that is an example of how managing - no matter what - can make the difference.

(AHA moment occurred right now!)

SO - green is an A trade..

Yellow - a good setup that wasnt managed well enough OR not such a good setup that was well managed.

Red will be neither, so actually Red could have been yellow, but it ended up with shame..

Black would be - What the hell are you doing? it is your money!!!!! Shame on You!

hope that i wont use it. - i won't.

thats it for now.

i will write something about the managing - its really good

just posting cause this page freaks me out - i have put too big image and it takes me to see the page too wide

so this and another one and we move to a new page.

hope thats ok Moderators.

Michael

page 5 - are you readddyyyyy?