Mohammad's Live Trades

Hi everyone,
After near to two years of actively trading, I'm interested in making a journal of my live trades to record my results & emotions SO that I could manage them better in the way + having any new ideas from you royal member of FF.

I hope a GOOD trading to all of you in 2009.
Regards,
Mohammad

Hi Dear Mohamed ..

Same to you , I hope good trading and all greenPips for you.

I will look @ your journals daily... hope now something new from you.

My past history in trading:

1. I have been actively trading for 2 years now.
2. After a lot of up & downs finally I have found my way. I haven't lost any weeks for 5 months now.
3. I am focused on trading Euro/USD only.
4. Jacko & James were both a lot of help to me for my achievement till now. I could add self experience from the market after it.

The principles I follow to trade:

1. Be Patient (Look FX as a long-term Business)
2. Always follow the TREND. (Put your mind behind the doors, TREND is obvious!)
3. Always respect Weekly S/R zones.
   
4. Trade systematic (Have a plan, Know your Entry & Exit, Have an expectancy of what market will do)
5. Mange Risk (use probabilities to weight the size of your risk, use a risk controlling mechanism)

Just to have some fun,This is my status when I was new to Trading in Forex:

Hahahah I was like you befor 2years

but now i am like this

The week is ending & I will not take any trades till the new week. Every Fridays I will try to post the results for the week.

(All times are GMT & trades are only Euro/US$)

My trades for 11 ~ 16 Jan 2009:

1. 11 Jan/22:22 | Sell @ 1.3472 (W-Trade) T/P hit @ 1.3375 , Risk Management: Full Gear --> for 97 pips.
2. 11 Jan/22:24 | Sell Limit @ 1.36 (R.W-Trade) T/P @ 1.3375 Risk Management: Half Gear --> Canceled upon first trade T/P hit.
3. 13 Jan/16:01 | Sell @ 1.318 (B.O-Trade) S/L @ 1.328 T/P @ 1.306 Risk Management: 1% risk of equity -->Moved T/P to Break Even upon two false moves to go down in M15 time frame SO got out B/E.

So the week ended for 97 pips / 4.8% equity growth. In the new week I will try to post my trades live.

Hope you all a good weekend.
Mohammad

Wow! I luv the pics here,its very2 relevant. Interesting indeed!
Great start khanderoo!

Welcome back traders,

For a W-Trade I'm a seller @ 1.3045 T/P 1.291 will put S/L to B/E if 1.298 is hit & the 4H Candle is closed.


My Emotions:

1. For the trade: The Bullish daily trend line has been hit heavily by the buyers of USD in the US holiday SO when the wave is strong you just obey it till the next stop.
2. Journal Making: It is highly stressful to present my trades to others as I feel I need the feeling to prove myself BUT as I'm systematic trading I think it will NOT influence my trades.

Hope for the best to all,

Although I'm pretty sure it will go down BUT rules are rules SO with the 4H candle going to low as 1.2987 --> S/L is now at B/E.

Waiting for the trade to work itself out.


** Update: S/L moved to 1.2952 @ M15 bar high to protect profit due to low was 10 pips different from target.

S/L triggered, Out with 93 pips NOT so bad

There will be NO trades for Friday this week. Trade taken live this week is:

1. 20 Jan/00:31 | Sell @ 1.3045 (W-Trade) S/L hit @ 1.2952 , Risk Management: Full Gear --> for 93 pips.

So the week will end with 93 pips / 4.7% equity growth.

Hope you all a good coming weekend.
Mohammad

Well this week I didn't take any positions as my favorite pair really didn't do anything according to its nowadays volatility ONLY an Inside Bar from a weekly time frame view.

With this week having NO trades it was a really important lesson I had for myself as psychologically I was very ready to take trades BUT when the market isn't ready for it one should always remember to be in the sidelines to protect his/her capital from emotional trades.Their NOT worth of it

Hope a very good weekend for all you patient traders,
Regards,
Mohammad

Welcome back,

 

1. For a W-Trade I have a Sell limit @ 1.2803 with T/P @ 1.2713 in Full Gear
2. For a RW-Trade I have a Sell limit @ 1.2900 with T/P @ 1.2713 in half gear
3. NOW price is 1.2774, Any trade will be canceled if 1.2713 is reached first.

Will update on the results,

Missed the first trade with 20 pips!! Because target has been reached all unopened trades are closed.

The Down trend is so strong it didn't even filled the gap till now.

1. For a W-Trade I have bought EU @ 1.2998 T/P @ 1.3065 With full gear

1. Also for a RW-Trade I have a Buy limit order @ 1.29 with the same T/P with half full gear.
2. If the R.W-Trade was hit, I will watch the market closely to put the S/L @ B/E at the appropriate time (when we have a good move in the favor of the trade in H4 time frame OR No good reaction to the support)

Wish you all a lot of pips,

Well, I have closed the trade for 16 pips / 0.8% of loss.

1. I must say that I have done this because of scary money in a counter trend position + really fast move in M15 time frame against my position. I know that all of these emotions are REALLY BAD for trading SO I will try my best to avoid them in the future.

Scary Money: I should explain that the Scary Money has come from adding to my first initial deposit when I was in profit for 5 months & this has made a lot of pressure for me NOT to loose it. (VERY DANGEROUS EMOTION)
Counter Trend: I always trade the daily time frame & I recognize the trend from the two 8 & 21 EMA's. SO the trade was against the main TREND.
Fast Move: This increasing volatility is a real Pain (when against your position) & Pleasure (when benefiting the position). With trading ONLY in the direction of TREND I think we could optimize its effect.

Hope the best,
Mohammad

Update: Funny thing, The market has reached my T/P target & than came down. My main error was for the "Scary Money". It was a total new feeling that I had. I had a walk & now I'm feeling a lot better. I'm ready to start my trading over when ever the market is ready for it.

1. For a W-Trade I have sold @ 1.2828 T/P @ 1.2727 with full gear risk management.

Moved S/L to 1.281 according to M15 Internal Bar --> to protect profit.

Will ride the trade

Update: Out & protected for the week.

I'm testing a self-made strategy for side-way market like the one we are experiencing right now:

1. I will try to Sell the top & Buy the low.
2. T/P target will be according to the main TREND; For example in this down trend that we have right now, I'm selling the top to the low of the channel & buy the low to the first weekly S/R zone.
3. Risk Management will be full gear with the main trend & 1/3~1/2 gear with counter-trend ones plus all S/L's would be 100 pips.
4. for Capital preservation I will try to take some profit in the mean while at lower time frame S/R zones
5. Timing: I will put these orders @ the start of the next daily candle to have my analysis at the close of daily bar.
6. Significance: Because the significance of an important S/R level will be highly reduced when price stays near it, I will ONLY be taking those levels once per week.

Hope for a good start,
Mohammad

P.S: I will be glad to have your idea's about my trading if you wish.

For tomorrow with today's price action I will looking for:

1. Buy @ 1.2727 with T/P @ 1.285
2. Sell @ 1.301 with T/P @ 1.275

My view of the weekly chart: From my view in the charts I don't think that USD could break the main trend line in at least near term there are lots of broken down trend lines it must pass as usually from experience market choose the easy way to go. BUT what ever happen I have learned to be ready for it.

Update: Because price is coming back to the Support area that it started to go up at the first of the week its significance is highly reducing so BUY & Sell order will all be canceled for this week.

Congrates on your trading.
I thought you've made safe trading mode, which strikes further into my curiousity.
Hoping to follow viewing some of your charts and comments in future.
Good Luck Mohamad!