Bakuli's Trading Journal

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ATR Indie

Above indie posted for a member by request. I personally don't use it for my trading which is based on System 2 by FEB, and following FXachillies' plan, which he developed from FEB's ideas/teachings.

Trade 1 in progress. Took a fcr of 4088 but placed buy stop at 4092.
Was shaken out , after 80 mins of battle for +3 pips. However re-entered at 4107 (Trade 2) when I saw a resumption of the initial breakout.

Trade report.
Long re-entry at 4107 doing well at the moment. #1 in play.

Trade 2 update. Moved SL to 4121, 3 pips below fcr @ 4124. 14 pips locked in and also risk free trade to hunt for runners.

Trade 2 closed for +14 when price took out my SL which was placed below the fcr @4121.
Trade 3 fc short 4121 has obviously been triggered. Let the LV battle begin! My risk remains -20 at start of trade but hopefully will cut any fake-outs early before SL is touched.
OK, remember FXA's words, give it a good early fight !

Trade 3 closed for -3. Reason - rejection of LL, price turning away from it. Now awaiting to see if fcr @ 4130 will be triggered. Otherwise, just sit on hands !

Trade 4, Fcr long @4130. Wathing LV like a hawk. Ready to close for minimum loss if market doesn't want to play.

Am still in the long trade from 4130. I was hesitant to close it when the initial break turned to be a fakeout. The market went to within a pip of my SL (20 pips SL) and has now gone back up. It appears to be having difficulty breaking out to the upside. I have moved the SL to 4125 after market went to a high of 4142, so now risk reduced to -8 pips. Waiting patiently for the breakout !

Stopped out of the long 4130 for -8 pips.

123D, Long 4145, 7.20 candle.

Closed above long (Trade4) for -12. Have re-entered at same price when price went back up again

Trade Updates

Trade 5 was a re-entry at 4145 long. The inevitable happened soon after I placed that trade - I fell asleep and woke up a few hours later to find that my trade has been stopped out. Luckilly I had a hard stop in place which prevented more damage than my risk tolerance. The cost of this mistake was 2% of my account. Lesson learnt - don't trade when tired !

Now am in Trade 6, short @ 4121. 12.35 pm candle. Trade still in progress. As usual, my hard stop is at -20 pips.

Trade 6 closed at BE, 2.10 pm candle.

Lesson from FXA

Copied from his post at System 2 thread

Take note of this one.. guys stop hallucinating stuff.. it will be detrimental to your account..

my point:
you got to never forget the basics.. and that is, you got to get a read off the market.. spot a swing.. ahhhhhhhhh we forgot.. ok good..

now i am gonna give you guys a lesson about "effective" fcr..
you see sometimes fcr's are so small and hardly any swing to it..

but... listen close..
the ones that come after a swing that has died and giving you a small retrace but its got a W.B and follow up witha D.T, then you got to jump all over that..and be care full with the middel stuff in the no mansland..

watch the chart i just put together.. its a account saver and account filler all in one..

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Attached Thumbnails http://cdn.forexfactory.com/attachme...1&d=1264166923

2.35 pm candle. Trade 7 long 4136.

Bad trade. Did not apply #2G+ and paid for the newbie mistake. Allowed it to hit my hard stop. -20. 2.50 pm candle.

Did a stop and reverse trade. This wasn't a revenge trade as the PA to downside was strong and I was just going with the flow.

2.Trade 8 short 4115. Price broke downwards, touched 4086 (+29) but was rejected and bounced back aggressively, ending up with a pin bar. When I was in profit, I moved my SL to breakeven allowed the trade to play out. On this occasion it did not pan out in my favour. Never mind. Wash, rinse & repeat.

Trade 9 Long off fcr @4133. 4pm candle.

Trade 9, long @4133 just closed by trailing SL for +28 pips. 5.45 pm candle.

Made quite a few mistakes today, largely due to being tired and not alert (because I was trading since Asia open) Fell asleep in middle of London session whilst still in a trade.
I am quietly confident with the strategy and can feel a very positive change in the way I trade, despite all the mistakes I am still making. My account is up since I traded this strategy (System 2 with Irony).

Going to have a few cold ones to celebrate tonight. It has certainly been an exciting and enjoyable 2 weeks for me trading in this new way. I feel passionate about it and maybe that's why I have been trading around the clock since I started trading it. I was trying to speed up my learning, lol!

I have to again express my thanks to FXA for his guidance and to FEB the thread starter of System 2. Both men have given so much so unselfishly and I am certainly benefitting from it.

6.45 pm candle. Fcr1 short 4148. High probability trade as it is in the end of an exhausted swing, as explained by FXA.

Update : Trade10 short@4148 now +7 in profit. At one stage was +24. Market is now closed. I didn't close the trade as intended(forgot about the time). Luckilly I have my SL at BE when the trade went +24 .