Aox's trade journal

I took these trades on my PDA overnight and on my way in to work. It is now 9:41 AM est and I'm done for the week. The one trade I took from home during the Asian session has been posted already.

I'm not too happy with the fact that my Asian trade took off and I did not leave a position open and my the remainder of the trades are average at best and I need to get out faster out my higher risk positions.

All in all a profitable week and keeping this journal does assist in my self evaluation.



B/S OpenPrice Risk Closeprice P/L

B 1.49246 1 micro 148898 -3.48

S 148913 1 stan lot 148877 36.00

S 148622 3 micro 148554 5.40

B 148564 1 micro 148239 -3.25

B 148306 1 Stan 148183 -123.00

B 148294 3 Stan 148048 -738.00

B 148233 5 Mini 148085 -69.00

B 148108 3 Stan 148348 720.00

B 148362 3 stan 148510 444.00

B 148321 7 mini 148438 81.90


Profit 350.57

At any given time I will have at least on or two of the following to help in my analysis:

Bollinger Bands to guage volitility
3 sma with BB to help confirm swing HI or Lo

RSI w/ 50 mark for market bias
Scochastic for divergences
MacD for momentum (But only one may remain on my charts once trade is selected)

Fib retracements and/or extensions, Trendlines and horizontal S&R I'm looking for breakout out of consolidation within or around the 21 ma channel or to trade pull backs back to normalcy (21 ma) once volitility has slowed.

Three samples of what I try to trade

Divergence trades are one of my favorite and first learned trades I take. I always risk more on these scalps because I'm confident in my ability to trade them well.

A very low stress overbought trade during a very slow Asian session (Bank Holiday)

Entry 149254
Exit 149189
Only a 6-7 pip scalp
risk 8 standard lots
Profit 520.00

Once again I'm not satisfied with the fact that I let once loss go too far against me and it could have ruined my day. The good I take out of this day is that I traded within a tiny 42 pip range between 149888 and 149460 and came out a better trader.

Sell 3 lots -120.00
sell 3 lots -765.00 (ouch)
sell 5 mini -6.00
sell 2 mini 1.20
sell 3 lots 147.00
sell 3 lots -213.00
buy 3 lots 93.00
buy 3 lots 102.00
buy 5 mini 38.50
sell 3 lots 312.00
sell 3 lots 432.00
sell 3 lots 285.00

Profit from these trades 305.63

Still at work so I'll have to add to post later.

I said in my last post that I came out of my trading day a better trader. In retrospect I would have to retract that statement because I should know as well as any trader that exiting losses quickly is one of the primary survival skill that must be evident at all times and I did not do that on two recent occasions and I take responsibility for that.

Was the remainder of my trades a get back at the market recoup my loss mentality, I'm not sure. The trades I took in no way showed the degree of loss that the large one was and I usually take 10 to twelve trades a day. That is not overtrading to me when I'm scalping and the fact tha I accepted what the market gave me shows me that I was not greedy by trying to milk every pip out of each trade.

My profit to loss ratio is not in tune right now so i'm going to lower my position size for the rest of the week and focus on regaining the discipline I worked on for so long. I understand that every trader will slip backwards at times. tha is not a problem. It is how we learn. Repeating these mistakes is not tolerable to me.

Quote "courage is the discovery that you may not win, and trying when you know you can lose- Tom Krause

Buy 1micro 149434 149546 1.12
sell 1micro 149536 149488 .48
sell 3 stan 149526 149450 228.00
Buy 3 stan 149099 149132 99.00
Buy 1 stan 149048 149127 79.00
Buy 1 micro 149788 149753 -0.35
Sell 3 stan 149759 149870 192.00
Sell 1 micro 149717 1.49870 1.33

Profit fon day : 600.58

I left pips on the table today but overall a good trading day. My alertness and focus was on point and I reserved my higher risk for more high probability trades which I thought was important.

PIP total was not high but the eur/usd had a Hi of 14984 and a lo of 14883 as of 11:55 est and looks like a indescision day might appear on the daily chart. We'll see. so I took what the market gave me.

I took off prior to Thanksgiving thinking that it would be the best thing to do to rest the brain but the market never takes off and it went crazy after 2 pm on Wednesday. I stuck to my guns and rested and ate and rested some more. I noticed some good volitility last night and before that read some articles about yen intervention after huge gains in its value and intervention overall regarding the USD.

The bulk of my trades revolve around two things. One a slow to respond hammer on the four hour $/yen chart that I bought once but ut really took off over night and the other was a even larger hammer on the Eur/$ four hour chart that I bought several times.

usdjpy Buy 1 stan 85.98 86.02 132.52

eurusd buy 1 micro 149226 149415 1.89

" " buy 3 stand 149203 149407 612.00

" " Buy 3 stand 148562 148767 615.00

" " Buy 1 Micro 148738 149736 6.38

" " Buy 3 Stan 148961 149377 1,248.00

Profit for the day $2,609.41

I bought the euro/$ at 148738 and closed at 149376 not the 149736 I placed into my journal.

It's 11:40 on a Saturday and I'm writing in my journal. Get a life, right? On 2nd thought, this is my life. This is the path I've chosen. That one thing only a very few can do and not burn out their accounts and/or their minds. That's the point, It's Saturday night and I'm writing in my journal and I'll probably look at some charts before I call it a night. It is the dedication needed to be proficient and profitable in the long run. I know I'm not alone.

Years of study and self exploration just to touch the surface of what must be done. It's Saturday night and I got the bug. I've had the fire in me and I don't think it'll ever be extinguished and that's okay. It's what we all want because why the hell else would we do the things we do to get good at trading Forex.

Ever since i walked out of that seminar in NYC given by Forex made easy way back in 2002 thinking " those guys are full of sh " one thing stayed in my mind and that was the Forex market. Not that BS robot system but the thought that "Hey I can do this". We all need that. That spark, that reason other than $$$$$$. It has to be deeper because it has to last through all the ups and downs and blown accounts.

I can honeslty say that my preperation with visualzation, affirmations and quiet reflection over the years has changed my personality from a fast paced hot head to a more patient, self disciplined thinking person that Is better prepared for trading day in and day out. Even if on demos while between blown accounts and learning TA because this can not be some fly by night thing for those of us that realize the possibilities and recognize the work that has to be put in. Good luck to all of us.

Relax deeply, Dream Big and Believe with all your heart. I actually have a tea mug that say that sh$%. Hey whatever works.

Well put Aox! I've been keeping an eye on your journal. Keep up the good work!

Entry 150602
Exit 150483
Stop 150730
Risk 3 Standard lots
12 pips
Profit 357.00

The Eur/$ has been in a flag pattern clearly seen on the 1 hour chart throughout the NY session. I have left one trade open with 1 micro lot risk with a downside bias. I traded on my PDA today and was able to squeeze some profit out of a very slow morning.

Sold 1 mini 150545 150348 19.70
Bought 3 Stand 150348 150391 129.00
Bought 1 Micro 150423 150457 .34
Sold 5 Micro 150533 150582 - 2.45
Sold 1 Stand 150627 150420 207.00
Sold 1 Stand 150133 150084 49.00
Selling 1 Micro 150067 Open Stop loss at 150360


Profit on trades 402.59

My thinking on this trade is that the high on the 4 hour chart has been approached but not at all threatened so I have dropped to a 15 minute chart and placed only two 1 micro lot trades in hopes it may develop into a more promising trade on the 4 hr timeframe. I will look for my entry to be tested and hold before I even think about raising the stakes. My stop loss is at 15146

The price action did retest my entry and I was able to get in short though the pattern created at the 15 min bollonger bands is screaming reversal. I chose to just take what I could and walk away.

1 Micro open 150128 closed at 149941 - 1.87
1 Micro open 150152 closed at 149940 - 2.12
3 Standard open 149972 closed at 149927 - 135.00

I took a long entry that evening after I posted my last trade based on the hammer encircled on my last chart in this journal. It was basically identifying a reversal pattern and takeing an entry. Because it occured prior to the euro session I only risked 1 micro lot seeing that I rarely stay awake with the alertness needed to trade well after 3 AM and of course I fell asleep. It worked out well and I Awoke to a 62 pip gain. After that I did not trade well at all. I failed to hold to my practice of a full chart analysis and jumped into another trade with more risk starting at around 7 AM and then another and another. It was a bad trading day in terms of my entries. The only positive that I'm able to take from it is that I exited out of these trades well. I did not have any hesitation or doubt as to wether I should exit and to me that was a good instinctive feeling. I limited the losses to about 400.00 + dollars and was able to scrap back without any reall damage to my account or mindset.

I only took two trades today on the euro/$ based on a 1 hour chart trend line break . Price closed below 8 sma and 20 sma cross between 11 and noon and started to ride the bottom band.

Sold 3 standard lots150567 exited at 150382 - 18 pip gain 555.00 profit
Sold 1 standard lot 150562 exited at 150395- 17 pip gain 167.00 profit

As of right now 12:50 price is still at 150432

There is a 2nd rising trend line on the 1 hour chart that may hold. It is 12:42 est and I will not risk todays profit so any entries will be based on what the RSI does. Right now it is below 50 so long entries are not an option at this time. Volitility may come into the market at around 2 PM. It might be best to stand aside and lick my wounds.

Sold at 150874 closed at 150870
Bought at 150847 clsoed at 151226 for 37 pips
Sold at 151316 closed at 151253 for 6 pips
Sold at 151249 closed at 151243
Sold at 151250 closed at 151333 for a loss of 8 pips
Bought at 151363 closed at 151206 for a loss of 16 pips
Sold at 151226 closed at 151152 for 7 pips
Bought at 150698 closed at 150817 for 13 pips

Pips for day- 65 Profit for day $799.39

I've given my micro trade i entered earlier today plenty of room to roam (200 pip SL) in hopes it will survive the volitility of the NFP tomorrow and continue what looks to me to be a bearish bias into next week based on the fact that on the dailies, the high from November 25th is still holding and the 4 hour chart looks to have made a double top. New lows for the last three days. Hmmm. Let's see what happens.

Trade remains active and I will adjust stops after New Zealand opens. I will look to sell retracement rallies on 15 minute, 1 hour and hopefully 4 hr timeframes early next week.

Currently up 219 pips

Because I can no longer hedge against this short trade and the FIFO rules dictate that this trade will have to be closed prior to any short term trade I Take, I'm closing this trade now.

It looks like price is finding temp support at around 14828.

Open 150789
Closed 148282
250 gain