My Trades

I am restarting this trade journal at 07.07.2010 .From post 98, page 7. From now I will only trade one strategy. It will be almoust mechanical system with some discretion. I will determine overall trend using my other long term strategy mode II http://www.forexfactory.com/showthread.php?t=214630 But all trades will be based on simple Demark trendline breakes on 4H time frame. So I only will take trades in the direction of my long term strategy.I will not be very picky with the demark trendline breakes becose I will take almoust all of them. An opening of the new candle on the other side of the trendline also will be qualified as break. I will add additional positions sometimes after next breaks if previous positions is already in good profit or at break even.

Trade management
I will open 3 positions. It will have jumping SL of about 50 persent of 20 days ADR same for all positions. First tp same as sl, second 3x sl, third 6x sl.
I will be moving sl to BE once in profit the amount I risk.


EDIT I have mooved to higher time frames and do not trade this way anymore

this will be my place for statistics updated weekly/ monthly

Now it`s just to be patient and wait for a trade signal...witch will come when it will come...

1. I am selling at 1.2600 ,two separate positions will be open. curent prise 1.2580

I sl 50 tp 50
II sl 50 without tp
moving stops to break even once 50 pips in profit for both. second position is ment to run

best to sell would be at 1.2630 but it is good enough to sell at 1.2600. If I get loss here I will be using Jacko anti hedge to recover the loss if price will retrace with 25-30 pips after stop loss.
To learn more what is Jacko anti hedge visit Jacko thread.

My trades haven`t been triggered yet and maybe will not be, but I am not selling right now bellow 1.2600, my pending orders still in place

EDIT, my trades have triggered at 1.2600 lets see what they will bring...

I tightened my stop to 1.2625 and removed take profit from the I position. Prise action made me more bearish and I want to let the profits run more. I will move the sl to BE once in profit of 50 pips

I mooved my sl to BE , max floating profit was 48 pips. If it will retrace to my entry point now I don`t want to be in the market anyway.

I mooved my stops to plus 10 pips, if prise comes back I don`t want to give it all back, but I am not going to close it yet either, no way.

Market do not moove anywhere, but retraces not either, so there stil can be some power in it. I was thinking to close I position but leting it be . The bigest danger is that the support is not so far under prise now. Previous low at 1.2520.

I was closed out for both positions at plus 10 pips. And I am happy with that. My initial point was to close one position at 50 pips, but I wanted to let the profits run, so I get only 10 pips. But it is just fine becose I can`t let my profits run without risk to give some back. Let`s look for another trade...

I am looking for sell around 1.2500 or better. Now at 1.2480. I want to see some weekness sings on 15 min chart, now that suport broken on 4H.

EDIT, I have simply Two sell limit orders at 1.2500 with 50 pips sl one with 50 pips tp, second without it. moving sl to BE once 40 pips in profit(if)

Prise nisely go down, but I am not selling cheaper then 1.2500 by now. now at 1.2465

good by my trade, prise now at 1.2450 and without me. And I am not cathing leaving train. I am stiil waiting to retrace to 12500 or just below it and show some weekness...

Prise has retraced a little to 1.2470. Hm I am lovering my sell limit orders to 1.2490 with sl at 1.2530(40). I want to loose less if it will be turn around instead of retrace. First profit at 1.2440.

I was searching for a original post where I found this (mantra)to give a link, but couldn`t find, so I copied it from my word document where I have it saved. Any way it is from forex factory. I read it every morning before I open my charts. Maybe someone will find it usefull.

I am a professional trader. My job is to take risk. I am able to honour my stoplosses because I am a professional trader. It is my job to trade consistently. If I manage my losses I will be profitable because I am a professional trader. I pride myself in my ability to let my profits run until the market tells me to cut. I feel good about being able to not let my emotions rule my actions. I am a professional trader and will make $1,000,000(or realistic amount you want to achieve) by year end. I will achieve this by following my stops and profits to conclusion and not allow my emotions to overrule my actions. I am a professional trader and therefore flexible in thinking and will not allow my current position in the market to overshadow new information being accumulated. I am allowed to make mistakes as it is part of being a professional trader, I forgive myself easily for making mistakes and move on to the next opportunity. Letting losses run is not in my own best interest. Cutting profits short is not in my own best interest. What I have read here is the truth and I believe in my own ability as professional trader to always act in my own best interest.

2. I have just sold at 1.2473 with sl at 1.2525 first target at 1.2425

EDIT, I see now that my earlear sell limits would have been triggered. I entered earler becose of weekness on 15min. Will see if I get shaken out.

I am reportin a loss of 52 pips for two positions. So I made minus 42 pips for this week. Prise is going up farther. If I had hold to my initial plan enter at 1.2500 I would be a little bit more happy even though I would have shaken out anyway, I gess. Anyway I showed som patience, but more of it is asceptable.
in short it is ok. let`s move on.

I have a new plan if prise will go and reach 12555 level, I will activate sell stop orders where I was shaken out at 1.2525 . I will do that only if prise reach that point. It is Jacko anti hedge trade, not a revenge trade.

Now I am admiting that my initial plan would have worked out perfectly. One trade would be 40 pips closed profit and second at BE. Good lesson for myself. I planed the trade but didn`t trade it completely til the end. Great how it works. No more trades this week exsept that anti hedge I mentioned above.

This nise fall on euro only shows me how discipline is well paid. I am simply enjoying it