NCF basic trading journal

Hey this will be my journal.

style is mid to long term-mixed fundy/price action/psych trading with diversification among less correlated pairs.

my style can be traded with a basic ruler and no indicators...

First trade im already in this because i had to wait for the moderators on the forum to approve this thread.

Anyways well start with this EUR/USD trade youll notice that this pair made a recently low we waited it made a lower high we wait till price makes a retracement off a new low so we can trade inside the price action. This allows us to place a well placed stop and to build a position into the trade. my arrows on the chart were my exact entrance points.

and we are 1/2 out here because counter fundy stop set to break even

+60 pips locked target rest position left to run

good morning woke up eur/usd looks good im adjusting my stop incase it breaks to the upside. This is shown by the horizontal red line. We are gonna run this as far as itll take us.

aud/jpy capitulation trade. entry one may not be reversal area first target 80ish pips

1/2 out at 8190 stop to break even +80 pips rest left to run.
eur/usd stopped out total +63 pips r:r on trade was 1:5.5.

Long gbp/chf cap/acc hybrid trade with fundy first entrance

other open positions aud/jpy long 1/2 out and stop to BE

triggers are everywhere this morning at nyc open
-aud/jpy stopped out at breakeven last night
-entrance 2 hit on gbp/chf
-new position taken eur/aud short
-new position taken aud/cad long
-new position taken aud/jpy long
all on daily charts except gbp/chf

charts to follow

a/cad and e/aud charts

end of week 1 of this journal it was a 1/2 week..
total pips = +203 pips
Floating p/l in pips= +40 pips
interest collected = +30 pips

week= 233
month=233
year=233

I think that was a great first week. Keep up the good work, and look forward to following this Journal.

Jeremy

Hey well its saturday and over the weekend I go through my trades for the previous week and see where I can find mistakes trading in my system.. I have been trading this system for over 7 years and its rare I take a bad trade. Because trading well is a staple for a professional trader whether the trade wins or loses.

This week due to an error in broker data on interest rates I took a bad trade and I wanted to note it. It is a trade that I am currently in now. The broker we use told us that the GBP/CHF paid a positive swap on long positions which means going long the pound and short the swiss. Unfortunately that was not the case and had to do with them not updating there information correctly.

normally in a situation like this the position would be closed immediately.. but we have evaluated the trade. And determined that it falls under the parameters of the 2nd part of this system.. known as a capitulation trade. We will continue to hold this position long due to this and the fact that on some brokers it does pay a positive swap.. so some parts of the fundamentals are intact. The only thing that will change is the profit target for next week and the money management will trade to a capitulation trade style money management system.

over the next few months I will be going over the philosophy of our trading style ( the 4 cores)

- no one form of analysis paints a full picture understanding the price action comes from multiple types of analysis including fundamental analysis, technical analysis, and statistical analysis.

- The trend allows for multiple great entries at low risk with extremely high reward understanding the trend can lead to profits.

- In ranged trading low risk positions with fundamentals can be attained to accrue quick profits and hold open position in case price begins to trend.

-partial profits should always be taken to cover the risks of entering the trade once the risk has been filled we create a riskless position to allow greater profits to accrue as trend continues until voiding the systems signaling exit.

quick update we got 3rd entry on gbp/chf long we are down 16 pips from the average position.
the Eur/aud is moving nicely we are 115 pips up
the aud/cad is performing rather poorly only up 20 pips range is low and the currency is consolidating.
the Aud/jpy is moving nicely we are 112 pips up

our target are still firm and inplace. may do some intraday trading if I can find a couple good trades

locked in 1/2 profits on eur/aud and aud/jpy at +135 pips each profits left to run

aud/cad dropped and stopped at breakeven

gbp/chf is hanging at -15pip loss right now.

overall good day good start to the week

+270 pips locked in

eur/usd trade long. stops and targets as usual.

equity curve for our trading for month of oct 23rd - nov 23rd.

building into eur/aud short again and aud/jpy again as they trend further using the profit as buffer.

To trade smart a trader must use all the information given to him at every moment, and I dont mean trading inside information.. I mean trading with all types of analysis.. some assume that trading fundamentals you are trading with discretion and by trading statistics you are curve fitting. But as some of the greatest traders know not all information is stated in price or technicals. its the big three that give you all the information you need to make a trade. Traders often think that by taking technical analysis and figuring out how often they work and applying what they think as a good risk reward for there trade that they have an edge. Its not true. This sort of method is a legal way to gamble as much as you want in the markets with the only thing to answer as punishment is your account. Many traders dont even know their job or function in the markets. As a trader you job is to absorb and transfer risk. You observe risk -> you rate risk-> you absorb risk -> and you transfer risk. If you absorb the wrong risk you lose money if you absorb the correct risk you make money.

Some traders label rating risk as rating trades... J16 for example notice how he rates his pin bars as A+ trade or b or c trade. He observed risk(the pinbar)->he rated risk(a trade)-> he absorbed risk(entered the trade)-> and transfered off the risk(exited the position) since he rated his risk... he is targeting risks that the best grade for absorbing and as everyone else realizes that the risk is good they absorb it and transfer it to those who want to buy discount risk.

nice trading, very clean charts!