My Trading Journal
Im back into trading after a significant break and will note my trades here each day.
Notes on my trading and recording
All times are GMT
I use fibbonnaci, macD, REI, RSI and moving averages as my main indicators.
I use timeframes of 15, 3 and 1 min
I use 3 min for scalpel trades (approx 1 min - 10min trades
I use 15 min on longer trades (15min - 1 hour)
I am normally in and out of my trades within 5 - 15 mins
I trade 4 days a week and wont trade more than 4 trades in one session
My training is through fxmeduction in Australia
This journal is a declaration of my trading. It keeps me disciplined and aids in self confidence for trading.
I will not pass on information taught to me by fxmeducation.
Wednesday 20th August 2008
Trade 1
Currency GBP/USD
Trade type - scalpel
Entered long 9:21 on 3 minute candle at 18595
Exited 9:30 at 18631
Result + 36 pips
Trade management
I watched 3 min for my exit, drew a trend line on the rise. If any candle had opened below the blue moving average I would have exited if combined with a drop in Mac D and dip below my 3 min trend line.
Exit Reason
Price on 3 min chart hit the pivot line and the pink moving average. Black and pink REI up high and turnng downwards. Price hit Pink MA on 15 min chart too. Also announcement could lead to volatility.
Chose to lock in profit
Trade 2
Currency GBP/USD
Trade type - scalpel
Entered short 10:59 on 1 minute candle at 18564
Exited 11:01 at 18554
Result + 10 pips
Trade management
Entered after watching cross on pink and yellow moving average on both 2 and 1 min. High position of pink REI and Red RSI on 2 min chart. I min chart RSI and REI heading down and also watched announcement which went against GDP. Note I often use 2 min chart when scalping as I find it gives accurate results on such short trades.
Exit Reason
Indicators on 1 min heading upwards, stall in downward price, Not confidnet that long term it will continue going short as 3 min indicators are low and Mac d is not favoring a short trend. Locked in profit.
Daily total +46 pips
Running score
Winning Trades 2
Losing Trades 0
Total trades 2
Im back into trading after a significant break and will note my trades here each day.
Notes on my trading and recording
All times are GMT
I use fibbonnaci, macD, REI, RSI and moving averages as my main indicators.
I use timeframes of 15, 3 and 1 min
I use 3 min for scalpel trades (approx 1 min - 10min trades
I use 15 min on longer trades (15min - 1 hour)
I am normally in and out of my trades within 5 - 15 mins
I trade 4 days a week and wont trade more than 4 trades in one session
My training is through fxmeduction in Australia
This journal is a declaration of my trading. It keeps me disciplined and aids in self confidence for trading.
I will not pass on information taught to me by fxmeducation.
Wednesday 20th August 2008
Trade 1
Currency GBP/USD
Trade type - scalpel
Entered long 9:21 on 3 minute candle at 18595
Exited 9:30 at 18631
Result + 36 pips
Trade management
I watched 3 min for my exit, drew a trend line on the rise. If any candle had opened below the blue moving average I would have exited if combined with a drop in Mac D and dip below my 3 min trend line.
Exit Reason
Price on 3 min chart hit the pivot line and the pink moving average. Black and pink REI up high and turnng downwards. Price hit Pink MA on 15 min chart too. Also announcement could lead to volatility.
Chose to lock in profit
Trade 2
Currency GBP/USD
Trade type - scalpel
Entered short 10:59 on 1 minute candle at 18564
Exited 11:01 at 18554
Result + 10 pips
Trade management
Entered after watching cross on pink and yellow moving average on both 2 and 1 min. High position of pink REI and Red RSI on 2 min chart. I min chart RSI and REI heading down and also watched announcement which went against GDP. Note I often use 2 min chart when scalping as I find it gives accurate results on such short trades.
Exit Reason
Indicators on 1 min heading upwards, stall in downward price, Not confidnet that long term it will continue going short as 3 min indicators are low and Mac d is not favoring a short trend. Locked in profit.
Daily total +46 pips
Running score
Winning Trades 2
Losing Trades 0
Total trades 2