Truckjrt Journal

Welcome to my journal,

I have been trading for about 6 months now and I thought by putting my journal in a thread I believe I can improve my trading. I had a horrible December 08 and a great Jan 09 and since then I have been sideways. Some up but mostly down. Until now I have been trading EUR/USD exclusively. I am ready to branch out.

Until now I have been using 77 Cross method which I was opening and closing one trade every day. I'm still using a one trade one day method, but with a new Daily Quarter system. For more info go here:

http://www.forexfactory.com/showthread.php?t=166310


I would like feedback from whoever reads this thread.

I will be trading EUR/USD, GBP/USD, EUR/JPY, GBP/JPY, USD/JPY. Not all on the same day and I expect to pare these down to only three pairs within the next month or so.

My money management will be up to 5% of my total equity over all of the pairs. (Ex. 5% = 4 total lots 1 lot = GBP/JPY, 1 lot = EUR/JPY, etc)

My current equity is $123.62. I know this is small but hopefully I will be trading full size lots by the end of the year. Until it is micro lots at FXCM.

Since this is a new system for me and I will be trying new pairs, don't expect the pairs to be consistent for the next few weeks.

Day One

GBP/JPY: 49 pips
GBP/USD: 67 pips
EUR/JPY: -53 pips

I will have more detail going forward.

Up again today. My entry orders were filled between 8 pm and 3 am local and hit the target profits within 3 hours each.

USD/JPY 39 (closed)
GBP/JPY 92.5 (closed)
GBP/USD 40 (closed < 45 mins)

Beg Bal $123.62
End Bal $141.11
Daily Profit $17.49

Day 3

My orders for tonight.

G/U Buy @ 1.534 SL 1.52 TP 1.541
Sell @ 1.52 SL 1.534 TP 1.513

E/J Buy @ 132.309 SL 130.887 TP 133.020
Sell @ 130.887 SL 132.309 TP 130.176

G/J Buy @ 148.03 SL 146.419 TP 148.825
Sell @ 146.419 SL 148.023 TP 145.617

Nothing has filled as of 6:30 pm local time.

Day 3

I got my ass handed to me.

GBP/JPY -83
EUR/JPY -118
GBP/USD +50

down 151 for the day.

What killed me wasn't the system but my emotions. I made 9 other trades that drew me down an additional $29.47.

Current Equity $96.55

Because of my draw down I will only have two trades tonight.

GBP/USD Buy @ 1.5181 SL 1.50578 TP 1.52432
Sell @ 1.50578 SL 1.51814 TP 1.4996

GBP/JPY Buy @ 145.169 SL 143.554 TP 145.976
Sell @ 143.554 SL 145.169 TP 142.747

5/14

Hammered again. My entry point is killing me. Moving it back again to midnight CDT, which is 6:00 GMT an hour before London open. If I am up I will wait until 1 am or 7 GMT.

G/J -291
G/U 44
-247 Pips.

No Trade on Friday. (may reconsider)

Two Trades before London open.

G/U +52
G/J +80

One at NY open.

U/J +14


All trades used past 5 days average range.

My win and loss % for the pairs I have traded over the past week or so.


Preformace Summary%%Total Trades

PairsWin% Lose%Total Trades Total Pips
EUR/USD50% 50% 2 -40
USD/JPY100% 0% 3 +99
GBP/JPY63% 38% 8 -236
EUR/JPY0% 100% 2 -171
GBP/USD80% 20% 10 +283
NZD/JPY50% 50% 2 -62
AUD/USD100% 0% 1 +31
USD/CAD100% 0% 1 +42
AUD/JPY50% 50% 2 -86

Total Pips -140

I have been experimenting with some of the pairs at times other than before the London open. So far I have come to these conclusions:

--The Daily range isn't the biggest factor, it is the entry point. Before the London session seems to be the best. (as if we didn't already know this)
-- Be prepared for draw downs when both the long and short hit their stop loss.



Next week I am scaling back to just one or two pairs until I can build up my equity again.

Current Equity $82.65. I need to learn better Money Management.