Chicky's Trading Journal

I am Chicky, a 20 year old female model trying to learn trading and not a 91 year sheikh with 5 wives. Why do you think my name is Chicky?
This is my journal and my telephone number will be PMed to the person who makes most sensible posts here.

Forget the history, start reading from Page 28.

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1 Obejective: Post live trades and their results on this thread

2. Method: Trade multiple pairs in their respective 3H or IH trend directions

3. Risk/Reward: Approximately 1:1, depending upon where next support and resistance lie

4. Trade Management: No modifications to a trade once entered. That inlcudes not taking even partial profits. However, may close a trade when PA gets very close to a TP

5. Frquency of trades: No new trade on same pair wthin 2 to 3 hours after it concludes

7. Maximum Risk: 1% or less risk on each trade. No more than 5 trades open at a time

Running Trades:
1. AU S 0.8092 SL 0.8143 TP 0.8048 P/L TP hit at June 15, 1:42am +44 pips

2. EC S 1.56644 SL 1.5801 TP 1.5524 P/L Pematruely closed June 16, 5:32 am at 1.5622 +42 pips

3. GC S 1.8372 SL 1.8499 TP 1.8232 P/L SL hit on June 15, 04:43 am -127 pips

4. UC S 1.1212 SL 1.1333 TP 1.1072 P/L SL hit on June 15, 07:29 am -121 pips

5. EU B 1.3976 SL 1.3787 TP 1.4242 P/L SL hit on June 15, 11:05 am -189 pips

New trades entered June 15, b/w 11:15 and 11:45 am

6. EU B 1.3792 SL 1.3593 TP 1.4122 P/L Prematurely closed June 16, 5:32 am at 1.3892 +100 pips

7. GJ B 159.65 SL 157.95 TP 161.46 P/L SL hit on June 15, 08:58 pm -170 pips

8. AU B 0.7931 SL 0.7805 TP 0.8109 P/L Prematurely closed June 16, 5:32 am at 0.7984 +53 pips
9. UJ S 97.95 SL 98.99 TP 97.11 P/L TP hit on June 15, 09:05 pm +84 pips

New trades entered June 15, b/w 09:10 and 09:19 pm
10. EJ B 133.32 SL 131.39 TP 136.62 P/L Prematurely closed June 16, 5:32 am at 134.30 +98 pips

11. Jun 15, 10:15 pm GJ B 157.87 SL 156.91 TP 158.79 P/L SL hit on June 15, 11:36 pm -96 pips

12. June 15,11:43 pm UJ B 96.65 SL 96.33 TP 97.07 P/L Closed on June 16, 1:25 am -8 pips

13. June 16, 1:25 am UJ S 96.57 SL 97.09 TP 96.10 P/L Closed on June 16, 1:56 am +893 pips (19 positions @ 47 pips per position) This was a high risk discretionery trade based on PA reading

Summary of results:
+44+42-127-121-189+100-170+53+84+98-96-8+893 = +603
It is difficult to manage five positions at a time, also impossible to update journal in real time. Therefore, in the future will limit number of positions to two.

I want Post #2!!

... and to say all the best to you here as you shift into yet another phase of your journey. I'll certainly stop in and see how things are going with you, but I expect they'll go well... always a'rd.

Holler anytime.

Well, give me spot #3.

I don't want to miss this!

Chicky, if there is anything I can do to help, please, just ask.

Thanks AK. Let's see how it goes.

Three is my lucky number after 13. Other lucky numbers are 11 and 21.

Thanks for all your support and encouragement. I will seek your advice as before. Thanks Jay.

Summary of previous results:
+44+42-127-121-189+100-170+53+84+98-96-8+893 = +603

http://www.forexfactory.com/showpost...44&postcount=1

1.It is difficult to manage five positions at a time, also impossible to update journal in real time.

2. In the future will limit number of positions to two.

3. Need to enter at right time. Previous entries were durng low liquidity session and therefore had to enter a high risk discretionary trade.

Missed the grand opening but don't wanna miss to wish you success.

Thanks Cobra, It wasn't a good start (not in the sense of pips but following rules). Will try to stick to rules.

14. Jun 16, 20:03 UJ S 96.08 SL96.77 TP95.36 P/L Hit SL Jun17 2:21 -69 pips

15. Jun 16, 22:42 EU B 1.3851 SL1.3815 TP1.3883 P/L closed Jun 17, 00:16 at 1.3876 +130 pips (5 positions @ 26 pips per position)

Summary of Trades
Previous +603
These two (-69+130) = +61
Total: +664

Just out of curiosity, what would the total pip tally been had you stuck to your rules?

Several trades would have remained open till this time. However, estimate that I would have been in negative for about 300 pips. My entries were not right for four reasons 1)I did not wait for active sessions to get market direction 2) Traded mostly on 3H chart which is something new for me, 3) Five pairs were too much for my level of concentration, a couple of them even countered each other's gains and losses, and 4) Not all the pairs were planned on same time frame, adding some confusion.

Some rules are meant to be broken

Seriously, congrats on the pips!

Thanks Jay. My horse-race bookmaking experience tells me that one has to change positions and rates based on odds, total collection and total payout. Fx is also a simiar game with several variable factors in play. These factors behave differently as move progresses. Therefore one has to keep on balancing risk and reward in changing situations.

16. Jun 17, 01:00 EJ B 133.87 SL132.38 TP135.00 P/L Hit SL Jun17 11:55 -149 pips

17. Jun 17, 01:46 EU B 1.3890 SL1.3849 TP1.3945 P/L Hit SL Jun17 6:52 -41 pips

Summary of trades:
Previous +664
These two (-149-41) = -190
Total: (603-190) = +474

Note:Need to adjust number of postions to get uniform $ amount return on each trade.

18. Jun 17, 13:40 EJ B 133.02 SL130.99 TP1.3695 P/L Closed trade before new release Jun 18, 7:30 at 133.65 +63 pips

19. Jun 17, 20:39 AJ B 76.20 SL74.68 TP78.22 P/L Closed trade before new release Jun 18, 7:30 at 76.31 +11 pips

Previous trade results: +474
These two trades (+63+11) = +74
Total = +548

20. Jun 18, 12:55 EJ B 134.58 SL132.81 TP135.98 P/L Closed June 19, 8:15 at 134.84 +52 pips (26 @ 2 positions)

21. Jun 18, 21:25 EU B 1.3918 SL1.3860 TP1.3968 P/L Closed June 19, 8:15 at 1.3932 +14 pips

Summary of trades
Previous = +548 pips
These two trades (+52+14) = +66 pips
Total: +616 pips

22. Jun 18, 12:53 EU B 1.3971 SL1.3940 TP1.400 P/L Closed at 1.3984 June 18, 13:26 (10 positions @13.3) +133 Pips

Summary of trade results:
Previous= +616 pips
This trade= +133 pips
Total = +749

Thoughts

A. The original intent was to open a position and let it run until it hits sl or tp. But I did not very strictly follow this rule after first few sls got hit.

B. Some of the postions targeted more pips than others. I did not adjust number of positions to have equal $ amount of risk and reward.

C. Two positions that gave most profits were based on PA reading, Although both these trades worked out well, risk was great.

D. Not finding a good entry was the main reason for deviating from rules.

E. Following my rules will only earn on balance i.e. safer but slow account growth

F. Rapid profit growth will only be possible with high propability and high position trades that offer r/r better than 1:1. However, such trades are mostly available either on bigger time frames or at critical levels.

Conclusion: Will continue putting trades as per original plan and earning only on balance. It is better to slowly get rich. The only adjustments required are 1)balance the risk/reward at exactly 1% in $ amount i.e. profit / loss will be exactly 1% irrespective of number of pips. 2) wait, wait, and wait for right set-up and market to take a definite direction, and 3) Do not close a trade unless it hits sl or tp.

Trades for the week of June 21

1. Bought Euro (2 pairs)
2. Sold AUD (4 pairs)
3. Sold Kiwi (2 pairs)
4. Sold GBP (1 pair)
5. Bought USD (2 pairs)

June 21, 23:18 est. Going for a killing on NZD/JPY
June 21, 12:41 est. First killing attempt failed. will go for next one in same south direction on finding second opportunity. Should be at least 300 pips (30 pips on 10 positions).
June 22, 4:05 made NZD/JPY kill for +304 pips. Many more were expected but focused on my traget.

All above positions (1 through 5) are still in play.

Previous Trading Result: +749 pips
Last trade NZD/JPY +304 pips
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Total +1,053 pips


Running trades:
1. Bought Euro (2 pairs)
2. Sold AUD (4 pairs)
3. Sold Kiwi (2 pairs)
4. Sold GBP (1 pair)
5. Bought USD (2 pairs)