Adam's Trading Journal...

Hi all. I've decided to keep a journal of my scalping trades during the days that i trade. The reason i thought it was a good idea to post the journal on here is because it will make me more accountable for my actions/trades. My problem is usually overtrading or taking on some silly trades as well as the good setups i spot. This way, i hope to post a reason along with the trades, so as to make me accountable to myself and to others, so you can all tell me how stupid i am for entering at a particular time, then exiting just as it was gonna come good...as i often do

So yea, ill keep a running pip count at the front. I must mention that im a relatively new trader...about 6 months in...so do expect a alot of negative pips. For the love of god dont follow what im doing lol! I will be trading mainly gbp/usd until further notice. I base my trading around price action only, mainly around little support/resistance areas, and '00 and '50 numbers. Will attach MT4 statement at the end of each week. Will be starting as of today, Monday 2nd March. Ive already completed todays trading, will post the trades/results below.

All trade times are GMT+2, as my broker is in cyprus time. Hence 14:00 is 12:00 in GMT.

All trades are net of spread, ie. they are the prices i actually bought and sold at. My spread on gbp/usd is variable, but floats between 1.5-2.5 at decent liquidity (average around 2). Around 3 at low liquidity times, but i try to avoid those times!

I am trading in 0.1 lots, so will post GBP P+L also.

Pip Count (Rounded to nearest whole pip, as my broker uses decimal pippage)

Pip Total = +22
££ Total = +£13.08


Mon/02/03/09 - +25
Tue/03/03/09 - -3

14:30 - Sell (1.)4083 Close at 4065 - +18
15:22 - Sell 4092 Close at 4094 - -2
17:14 - Sell 4046 Close at 4037 - +9
18:52 - Sell 3974 Close at 3965 - +9
19:02 - Sell 3991 Close at 3998 - -7 (Stupid trade, saw DOW fall and cable not, so sold quickly, grr!)
19:41 - Sell 4042 Close at 4044 - -2

Today's Total - +25

Wasn't paying enough attention to markets today, didn't catch a lot of the bigger jumps, and nowhere near as many trades as usual. Wont be trading much tomorrow either as in class a lot. Maybe a couple of hours. Still, happy with +25 though.

NOTE!

More detail will be posted from now on, today's trading was only listed like this because i hadnt started this journal until after today's trading.

12:29 - Sell 4072 Closed at 4078 - -6 (Saw break of the little 4075 resistance, thought it would accelerate past that, but it held at 4070. Didnt close in time when realised it was hitting resistance!)

Low liquidity, just observing. Higher spread and little movement.

14:38 Buy - 4061 Close at 4056 - -5 (Another silly trade, grr. Broke mini resistance at 59-60 area, but never accelerated on past)

14:49 - Sell 4066 Close at 4064 - +2 (stalled so i jumped out)

14:55 - Sell - 4046 Closed at 4054 - -8 (Silly entry again, gotta wise up)

Silly hedge thing i did, messed up the orders, but ended up with +1 pip net in the end lol. Ill count it just to keep the totals right.

Bought at the top, but quickly noticed and reversed for nice scalp:

15:45 - Buy 4132 Closed at 4130 - -2
15.45 - Sell 4129 Closed at 4119 - +10 (Would have taken more, maybe +15 or so, but the trade minder i use accidentally had +10 TP set. Changed this)

16:00 - Sell 4097 Closed at 4094 - +3

16:26 - Buy - 4081 Close 4081(5) - +1 (Bought the range breakout but it hit resistance quickly, so ran with a 'breakeven' trade)

16:38 - Sell - 4630 Closed at 4550 - +8 (4650 Held 3 timesprevious, so as soon as i saw the price nose over the mark i sold and it jumped viciously down straight after - good trade)

16:47 - Sell - 4041 Closed at 4043 - -2 (PLayed break of 4045 level, but hit resistance)

Argh, every time i look away from the trading screen i miss a good chance. Grr. Must FOCUS MORE!

17:15 - Sell 4038 Closed (bout 3 secs later lol) 4029 - +9 (Large spike in cable while DOW took a fall. Bought at top of spike and it quickly collapsed)

17:46 - Buy - 4063 Closed at 4058 - -5 (Very silly trade, watching other things, gr)

17:49 - Buy - 4066 Closed at 4060 - -6 (Another one. Gotta take a breather and stop this sillyness)

17:52 - Buy - 4054 Closed at 4052 - -2 (Right must go get food getting so sloppy and over trading)

18:44 - Sell - 4013 Closed at 4014 - -1 (Argh accidentally hit the requote accept button. My bad lol)

Got requoted out of a brilliant chance when it spiked down below 4000. With an ECN market order i woulda been severly in the pips lol. Today's total so far: -3