Natejax Trade Journal

This is part of an experimental strategy I came up with this morning with longer term positions and use of different chart time frames. trade puts me at a penny a pip so i don't need a stop loss and probably won't have to worry about margin calls...

again, this trade was made based on daily charts and the 4 hour... i am going to try doing things differently. did not use indicators.. just went off of trend direction and divergence.

this is based on ranging. i am expecting a swing upwards. if down, i don't have a stop. i will let it run til it returns.

turned corner on major up move

i am up over 150 pips on my trades today (after this mornings debacle), which includes a losing trade with EU that i closed out... all these trades were done "freestyle" using different timeframes on different charts. no real indicators.. the hard thing now is watching my penny pips grow with out any real profit. but i guess this is the first step in getting profitable.... dont jump in with dollars til you master the pennies:

OPEN TRADES:

BUY USDJPY @ 109.77
BUY CHFJPY @ 98.35
SELL EURAUD @ 1.6711
BUY GBPJPY @ 226.90

CLOSED:

SELL EURUSD @ 1.4743 -35 PIPS

CLOSED:

BUY USDJPY @ 109.77 +40
BUY CHFJPY @ 98.35 +20
SELL EURAUD @ 1.6711 +51
BUY GBPJPY @ 226.90 +61

if it was real money, i would have stayed and watched them...

NET for day (post failed system):
137 PIPS

i definitely think these should move more so ill keep an eye to see if i was right

Way to go, Nate!! Great job!!

LONG USDCHF @ 1.1207
LONG USDJPY @110.28

real money this time...

thanks Leigh

getting my brokerage account refunded also.. time is good to go long on US stock market.. time to start writing some puts

Closed Usdchf -7

Closed Usdjpy +40

i think i am going to aim for trading off hourly charts for now... allows me to take bigger positions.

My new plan is to use a strategy rather than a system.. The strategy will be to use the daily charts to look for trades based on trends and candle patterns.. Then I will use the hourly charts to make an entry. Trade may not be open long, but the daily analysis will allow me to let trade move against me if short term entry plan does not work out.

I think i found my daily system and can scrap the crazy indicators, waking up in the middle of the night to trade, angering my wife with my daily fatigue, etc (thanks to Steve)..

2 Trades today

SHORT EU
LONG UJ

keeping stop loss risk at about 1% for now

looked over charts and i have 3 trades planned for sunday open

SELL STOP NZDUSD @ .7592 SL .7765
SELL STOP EURGBP @ .71 SL .7171
SELL STOP GBPUSD @ 2.0529 SL 2.0599

dailys are the way for me. win or lose, i will stick to them for a few months and keep trades small.

Hi Natejax,

Is there any cahnce of you posting any set-ups ? How do you workout your SL's? Interesting thread!!

Hi Natejax

Just seen you have started your own journal! Wanted to wish you all the best and do stick at it - if you can keep it going through the next few months you'll be amazed at what you learn.

Kind Regards
Steve

Steve, thanks for stopping in.. means a lot to me. i definitely learned a great deal reading your thread.

Morse:

EURGBP - start at the weekly chart and run all the way down to the 1 hour and you tell me where it is going.. i could be wrong but we are near the high from 2002. might actually raise SL right above that level.

NZDUSD- 3 candles consecutively that failed to get get higher highs. this last one ended down. looks like a good trade if it breaks the low.


GBPUSD- check weekly/daily/4 hour. 4 hour looks especially bearish. US seems to have gotten all its bad news discounted while GB may not have..

i am generally bullish on USD right now

switching NZDUSD to AUDUSD. similar trade with smaller SL.

SELL STOP AUDUSD @8816 SL 8927

trading off 4-hour charts mainly:

LONG GU 1.0126
LONG EU 1.4597
SHORT UCAD 1.0126

short USDCHF 1.1280

short NZDJPY @85.49

Hi Natejax:

Just having a look at your journal again. Do you use a stop loss for those last trades you posted?