tony's trading journal

My style is intraday trading from the 1hr/15min/5min charts during the London session. I have a very simple (although I like to complicate things) method with 3 rules. All conditions must be met.

1) Market condition - support/resistance, key psychological numbers, trendlines, patterns, fibs, etc.

2) Timing - I realized that you can correctly predict short or long moves but you will lose money without timing.

3) Price action - similiar concept to the price action that can be found from James' teaching.

I am going to post every trade I do good and bad, and hopefully you can learn from my good trades as well as the bad ones. I hope I will learn from them as well... for my sake.

london- this is my sesion as well...


trade well

Oct. 14. 2008 Tuesday

Ending balance: $5501 ($ -49) 2 trades

#1 Gbp/Jpy 5min
-$55 out of $55 risk (1%)


#2 Eur/usd 1hr
+6 out of $110 risk (2%)


Eur/usd 5min

because i decided to wait and take a better entry position after the confirmation bar on the 1hour chart, i took a break even trade. If I took a trade at the close of the 1hour bar which gave me the confirmation signal, i most likely would have taken a loss.

The timing aspect of my rule is vague, but without going into too much detail because i'm lazy... if you look at the gbp/jpy trade... the previous swing high from where I made the entry... you'll see about a 30min worth of consolidation counting the 5min bars. So on that pullback, I'm going to wait about 30minutes worth before I even look for price action.

thanks... same to you

1 trade EUR/USD
-$11 out of $110 risk
account $5491

Gbp/Chf 1 hour charts
-$24 out $150 risk



so thats my 4th loss in a row, which probably means I have no idea what I'm doing. If all else fails and you don't know whats wrong... just blame the broker. I got a lemon tree in my backyard, and i just grab a lemon and throw it against the wall as hard as I can and watch it splatter. If you got an orange tree it works just as well.

Looking back on last week, I don't think my entries was the problem. It was more about what I was doing during the trade. The week could've ended in a profit despite the entries. Something to work on for next week. I will cut down on my sizes until i start trading better.

Eur/Jpy on 5min charts
-$20 out of $27
This is actually on a monday not tuesday



Why I traded this trade I don't know. I haven't traded this setup before and I don't know why I started. So this is what happens when you do stuff you don't really know. I do trade triangles but they have to touch support/resistance areas at least 3 times. Even then they can get very tricky. I try to avoid them as much as I can. It really depends on WHERE they show up.

On a side note I did not post the trades last week because I was just lazy. You tend to get even more lazy when you're posting losing trades all the time too.

Aud/Usd 5min
$+13/27



This wasn't the greatest expanding triangle I've traded and if it was just the pattern alone I probably wouldn't have made this trade. I know I stated earlier I don't like triangles but i do make an exception for expanding triangles. The second touch at resistance on this triangle was at 61fib and 50s round number.

I got greedy on the take profit area and put it couple pips below the previous two swing lows which act as support now. The only reason for this act of stupidity is greed. I paid the price since I missed the target by 1 pip. The good thing is I got out soon after because about 5mins later u can see what happened.