B Journal

This is my personal journal which i take my live trades.
Been trading Forex for 6 months.
I would like to have my journal here for my mini account, hence here goes.
I will be trying out my direction (DRT charts) for couple of trades and if it goes well, i'll see what else can i spin off from here.

Trade #1
Short GBP/USD
Entry: 1.9685
Target: 1.9475
Stop: 1.9730

Trade #2
Long USD/CAD
Entry: 1.1533
Target: 1.1674
Stop: 1.1494

More details will be explained later on.
To Learn: Use trailing stops from Northpro.
This is not a signal provider, my trades are irrational, don't follow.
Lot sizes will be explored in future. I doubt i will impliment different lot sizes.

It would seem like there are many good traders and systems i was learning trading from, time to time, as i follow through the journal.
From the progression of the journal, I can see the different things learned. Apart from Jacko's AH method, other trades i take are much smaller in size and not according to AH.

Trade #3
Short AUD/USD
Entry: 0.8108
Target: 0.8118
Stop: 0.8135

good luck

Good luck,barak

Thanks don and obee,

Trade #3 S/L: -17pips
Entry and target misplaced.
Should have read:
Entry: 0.8118, Target: 0.8008

Trade #4
Entry: 0.8121
Target: 0.79
Stop: 0.8230 (If you can break Dec 1996 high, you deserve hitting my stop)
Watching Gold and Oil price with these 2 trades. (USDCAD, AUDUSD)

I'm reading this book "Trend following" by M.W.C.

Many times i sound contradictory to myself, i would believe that ignorant pays and if there is someone who has been there done that, you can point out to me where to learn things.
I'm on the receiving end of this paragraph.

Quote: "Most traders focus only on how to enter and how to exit a market. Many will say, "Hey, I've got a way to beat the markets because this trading system i have, it's right 80 percent of the time. It's only wrong 20 percent of the time." They need to take a step back for a second and say. "Okay. What does 80 percent right mean?" If 80 percent of the time, you don't win much, but 20 percent of the time you lose a lot, your losses outweigh your gains even though you're right 80 percent of the time. You must take the magnitude of wins and losses into account."

Trade #1 Stopped out
-35pips
Both were counter trend trades.
WTD: -52pips
MTD: -52pips

Almost forgot, this setup doesn't seem wise. Traded, so let's just journ it. No point bluffing myself by leaving this trade out of journal for journal to look good.

Trade #5 Short GBP/USD
Entry: 9727
Target: 9655
Stop: 9760

barak,although each trader needs to develop their own style,i couldnt help but notice that u cut #3 short. your stop loss was set at -27 pips but u cut it off at -17 pips, only to jump right back in and short again,why? what was your backtesting and forwardtesting results? are u comfortable with your R/R? do u really believe in your system? im not trying to bring u down, but these are some questions u must answer.

p.s- dont chase the market let it come to u!!!!!!

Thank you so much, don. I needed that.
And i thought i misplaced, nonono, so it was a 27 pip loss.

You were right in 1 thing that i'm still working on.
I was chasing price, should have let it come to me.
WTD: -62pips
MTD: -62pips.

Trade #3 Completed
Shorted AUD/USD
Entry: 0.8108
Target: 0.8118
Stop: 0.8135 (HIT)

The Entry traded was 0.8118 (Error 8108)
Target should have read 8008.
Loss was right @-17pips.
Daily pivot is 0.8089(non DRT indicator).
I was looking at holding this trade for 3 days minimum to trade down the river
8080(Zone +2), 7977(Zone +1), 7944 (River)
Zone +3 is @8182 and Zone +4 is @8317 (Friday morning chart)
WTD: -52pips
MTD: -52pips
I'd better take out my elementary school books.

What a great start to writing a journal, hopefully it ends better than it started.

Fantastic, stopped out on G/U trade again, will wait for G/J to reach 234 then setup trades. Market is moved by carries by pushing up majors instead of u/j. Bearish USD.

Trade #1
Short GBP/USD -52pips (HIT STOP)
Trade #2
Long USD/CAD +20 (ACTIVE)
Trade #3
Short AUD/USD -17pips (HIT STOP)
Trade #4
Short AUD/USD -45 (ACTIVE)
Trade #5
Short GBP/USD -33pips (HIT STOP)

Trade #2
Long USD/CAD +20 (ACTIVE)
I am trading along with Dr.T, I remain long out of 1533, targeting 1647. The market traded up around 20 points today. The story remains the same. Patience always with this pair.
A note of caution for longs. If we do move up to test the River Level at 1647 as "I" expect, there will likely be heavy supply in the market. Why? Longs are trapped at this level and will begin to exit. What happens at this level is the key to further upside. I prefer to wait and not set up shorts the first time up at this level to judge the next move better. Given this "I" will cover my long trade at the River Level or substanitally reduce my exposure and wait to re-establish once this level is resolved. Short or Long.

Trade #4
Short AUD/USD -45 (ACTIVE)
If the supply area above 8240 clears, which is unlikely, i'll be covering my short. Aggressive traders can set up shorts here. I'm holding my position as we build value around this area.

DRT is out of town this week. HEH, so these would be the trades i'm left with till next week trading using his charts. Let's see how this will pan out.

Trade #6 Short GBP/JPY
Entry: 234.29 (234.11-234.29) Watch price action.
Target: 228-229
Stop: Daily close review. (Up to 3% of Equity)

Not quite the price that i want, slippage. What's more important now is the challenge of supply in this area.
Entry: 234.06

Trade #2
Long USD/CAD +56 (ACTIVE)
Trade #4
Short AUD/USD +20 (ACTIVE)
Trade #6
Short GBP/JPY -37 (ACTIVE)

USDCAD Continue Long from 1533 as we try to reach 1674. Once it crosses the 1630 mark i will move stop to +20.

AUDUSD I continue to hold my shorts from 8108 looking for 7944 to 7970.

GBP/JPY Short continue to hold from 234.03, price have to clear 234.23 today so that risk is lower on Daily. Swap is a pain in the XXX as today is triple interest to my disadvantage. Pips are more important. Perhaps carry traders would dump some after they earned the interest tonight.

Trade #2
Long USD/CAD +55 (ACTIVE)
Trade #4
Short AUD/USD -76 (ACTIVE)
Trade #6
Short GBP/JPY -41 (ACTIVE)

USDCAD Continue Long from 1533 as we try to reach 1674. PA was weak and i have adjusted SL to +20 at 1.1553.

AUDUSD I continue to hold my shorts from 8108 looking for 8149 to 8069 today. A close around this level over the weekend would warrant me to relook into this hard to swim river. (For this pair). As we are reach a strong point at 8215, hence my stop loss at 8230, my view might turn if we get a strong push up and i would probably setup for long on retrace back to this level.

GBP/JPY Short continue to hold from 234.03, price have to clear 234.47 today so that risk is lower on Daily. I look forward to price moving down 233.96 to 232 where i might turn to long this pair. Upside, i'm seeing 236 if we can clear 235 supply area.

Lose the battles, win the War.

Trade #7 (New position) Risk 0.1% of acc
Short AUD/USD
Entry: 0.8191
Target: 0.8100
Stop: 0.8230

The commodity pairs are showing a tremendous amount of strength right now but it’s a good risk to reward trade.
The breakout traders are all long this one but will bail on the slightest hint of weakness. I like this pair because as soon as it tops or bottoms out it instantly reverses direction, whereas most of the other pairs trade sideways near tops or bottoms in indecision.

I am really happy with this setup even if stop loss is hit.

Trade #2
Long USD/CAD +20 (HIT STOP LOSS)
Trade #4
Short AUD/USD -63 (ACTIVE)
Trade #6
Short GBP/JPY -10 (ACTIVE)
Trade #7
Short AUD/USD +7 (ACTIVE)


Trade #8
Long USD/CAD -6 (ACTIVE)
Entry: 1.1529
Stop: 1.1505
Target 1.1600s

Trade 2 was stopped out after news... giving us a better price to re-enter.

GBP/JPY trade has been holding for 2 days, looks like i called reversal to short too early. Now that i see Mouteki followers came out with chart supporting short gives me a bit more confidence, Spud also mentioned about 15min,30min and 1 hr supporting short i think. Anyway, this trade teaches me to wait and see before calling reversals... (Let's stick to the plan no matter where it goes.) Follow through the shot!

AUDUSD has been slow to move down, looks like for the majors only cable got a little shakedown, EUR and AUD still strong as ever. Aussie carry is at its new high levels.