A Cancerian trade journal

After several months searching from forums to forums I have finally developed my own trading strategy, backtested it and now I am trading live with it using micro lots (after considering advices from experienced traders in this forum).

This journal will record every trade that I make using this strategy.
FYA, I am a total noob, I have never trade before and this is my first time trading live.
Although I am using micro lots, every trade that I make is more than 10% of my equity (which is not very wise), my plan is if I lose it all I'll stop and go back to the drawing board.
Whatever you do, do not follow my trades.

One more thing, this live trades are also my practicing ground to develop the mentality of a trader, which I currently don't have, so please forgive any 'stupid' comments from me.

Okay here it goes.

Open trade
22Jan07 GMT:10.00
Sell EUR/USD 1.2957
TP: 22
SL: 16

Cheers...

wishing you all the best to developing successful system

Don't worry this is something and usually takes time,trial, and error

Hi Turbo it's nice to have you in my thread. I also read your trading journal and they're just awesome.

Update on last trade.

Sell EUR/USD 1.2957 Close 1.2935 = +22pips

not bad for a start.

I'm going to stick to EUR/USD until I'm comfortable enough with the trading system.
Will keep updates on new positions.

cheers.

Hey,

Great start

I'll be watching your journal with interest

Kind Regards
Steve

Good luck Cancerian

If you are posting it on this forum you will certainly get some great advice from the more experienced members.

thanks for your support guys.

Open trade:

Buy EUR/USD 1.2947 TP 1.2973 SL 1.2925

I was not 100% sure when I open the position, let's just see how it turns out.

cheers

Looking good

yes it was looking good, finished the trade in less than 1 hour.

Close trades
Buy EUR/USD 1.2947 Close 1.2973 = +26pips

Open trades
Sell EUR/USD 1.2971 SL 1.2991 TP 1.2935

The pair has been bouncing off my support and resistance for the last couple of days, I think it will reverse again.

cheers.

Close trades
Sell EUR/USD 1.2971 Close 1.2991 = -20pips

Made a mistake and didn't follow my system rules, on top of that I am having the urge to take "revenge" on this trade.
Better to pull back a bit to sort my emotion.

cheers....

you should be shot for not following your rules... lol

no worries you learn from you mistakes and that why your keeping it all in a journal.. but starting you you might want to be detailed as possible...

so when you look but your not scratching your head saying i know i bought it at that price but why...

Luckily no one in my vincinity owns firearms, but I did bang my head against the wall because of it...lol

Current trades:

Sell EURUSD 1.3012 TP 1.2973

The darnest thing, EURUSD was only 1 pip away from my TP when it reversed and hit my trailing stop. Thank God I was still able to reap some profit.

Close trade:
Sell EURUSD 1.3012 Close 1.2992 =+20pips

I'd like to try out this system on GBPUSD for next trades, it has similar result with EURUSD during backtesting, so let's see how it goes.

cheers.

Open trade:

Buy GBPUSD 1.9695 SL 1.9670 TP 1.9765

EURUSD started to go up before GBPUSD but I missed it, so it is up to GBPUSD then.

Close trade:
Buy GBPUSD 1.9695 Close 1.9670= -25 pips

Missed another EURUSD downward move last night.

Open Trade:

Buy GBPUSD 1.9659 SL 1.9639 TP 1.9695

Close Trade
Buy GBPUSD 1.9659 Close 1.9639=-20pips

Short reversal results, I think I should avoid short reversal trades like this until I can increase my equity to safe level.

Open Trade:

Sell GBPUSD 1.9604 SL 19646 TP 1.9554

Close Trades
Sell GBPUSD 1.9604 Close 1.9594 = +10 pips

The truth is I am extremely upset with this trade, it was only 3 pips away from my TP and moved back upwards.
I had to close it with profit a lot lower than I expected, because I don't want the London open session to ruin it.
Something new that I learn in last week was to avoid London open session, because the price can move so sharply and it is almost impossible to predict where it is going.

Close trades:

buy GBPUSD 1.9587 Close 1.9615= +28 pip
buy EURUSD 1.2921 Close 1.2912= -9 pip

I was even more upset because I closed the EURUSD buy prematurely, it turned out that it reversed its position and hit my targeted TP. If only I was patient enough I would have made a nice +28 pip.

starting this point onwards, I will give updates daily instead of per open or close trades basis.

I only update my journal once a day, other wise it would feel like job in its self to update ever trade.