MW's trading journal | Page 77 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Another Trading Journal - Yuhu's Journal 17 replies

Twitch Journal - Live Journal 4 replies

Creating my Trading Plan + My Trading Journal 27 replies

My Personal journal up 18% in 2 months going to start a journal 8 replies

Azzity's Trading Journal III (Azzity's 3/30 Trading Method) 9 replies

Attachments: MW's trading journal
Exit Attachments

MW's trading journal

  • #1,521
  • Edited 12:20pm Jul 2, 2010 12:01pm | Edited 12:20pm
Welp, I gotta call it that I just shit the bed on those two trades, well the aud/jpy anyway. I need to change what I wrote earlier; half the pips, half the fun! lol Off for the day now, have a good one ladies and gents!

I'll still be holding on to the chf/jpy over the weekend or until I see the 5 minute action dictate a little more, although the aud/jpy was closed for a loss of 60 pips.

Yikes! lol Still, this week is closing as a gain which is all I care about. When you start to think about individual trades, it drives you crazy. That's too small of a sample size to be able to note anything. Something to remember. When you've put in thousands of trades, then that's enough of a sample size to start gauging things.
I dream, therefore I become.
  • #1,522
  • Jul 2, 2010 2:19pm Jul 2, 2010 2:19pm
Quoting mike w
Welp, I gotta call it that I just shit the bed on those two trades, well the aud/jpy anyway....
I really enjoy reading your posts Mike. You seem to be able to keep your emotions separate from the trade result. That's something I caught myself doing quite a bit last month. When we're able to release the trade, and not care about one single trade result, instead focusing on the weeks' result, or the months' result, then things seem to go smoothly and freely. It's when we get caught up judging our capabilities and our strategy trade by trade that stuff hits the fan. Thanks for the reminder.

Happy 4th all, Josh
  • #1,523
  • Jul 2, 2010 2:49pm Jul 2, 2010 2:49pm
Quoting Jduester
I really enjoy reading your posts Mike. You seem to be able to keep your emotions separate from the trade result. That's something I caught myself doing quite a bit last month. When we're able to release the trade, and not care about one single trade result, instead focusing on the weeks' result, or the months' result, then things seem to go smoothly and freely. It's when we get caught up judging our capabilities and our strategy trade by trade that stuff hits the fan. Thanks for the reminder.

Happy 4th all, Josh
You got it brother. It really is invaluable to us as traders to realize that one trade doesn't mean a damn thing. Think about it....if you were going to a duel with some pistol totin cowboy at 50 yards, would you want to be able to shoot 1 round or 100? At 100, it looks a lot different than with one. One trade doesn't make me. 1,000 trades don't make me. The only thing that makes me is what I think of it all and how I react. If I say, I'm such a loser after taking a loss and gaining feedback from it, then guess what? The universe says, "Your wish is my command", and there it is...I AM that loser.

I always loved this quote: Life is ten percent what happens and 90 percent how we react to it. And that's so true too.

There is no failure, only feedback. Two very similar, yet very differing words.

Never judge your capabilities, only realize that being realistic is unrealistic. It's unrealistic that a big hunk of metal can fly through the air and light can be made out of a little piece of glass with some metal in it. If that's how it is, how unrealistic is it to be making a couple hundred thousand a year and trading like the champ that you know you are? Not at all unrealistic.

Thanks for the message too my man and happy 4th to you too Josh! I know you're going to be having a great weekend so I don't even really have to say it! lol

BTW, I'm glad I held on to the chf/jpy trade right around now- I'll be keeping it over the weekend like I thought I would be. The aud/jpy was just bummy to be honest though. lol
I dream, therefore I become.
  • #1,524
  • Jul 3, 2010 8:33am Jul 3, 2010 8:33am
Quoting mike w
You got it brother. It really is invaluable to us as traders to realize that one trade doesn't mean a damn thing. Think about it....if you were going to a duel with some pistol totin cowboy at 50 yards, would you want to be able to shoot 1 round or 100? At 100, it looks a lot different than with one. One trade doesn't make me. 1,000 trades don't make me. The only thing that makes me is what I think of it all and how I react. If I say, I'm such a loser after taking a loss and gaining feedback from it, then guess what? The universe says, "Your wish...

You mentioned the light bulb. Edison had over 10,000 attempts before success. So how can one failed trade matter , It is but a speck in the great cosmos that is our lifes. Just take notice for what it WAS and move on , If there was a bit of a lesson to be learned take it if it was just a blip in the market forget it.

Nice to see your doing well.. Trade Happy ken
Good Trading To All ; Ken Lee
  • #1,525
  • Jul 5, 2010 8:15am Jul 5, 2010 8:15am
Here's one I got into at .6875. The nzd/usd printed out a beovb at the 28.
Attached Image (click to enlarge)
Click to Enlarge Name: nzd july five.gif Size: 20 KB
I dream, therefore I become.
  • #1,526
  • Jul 5, 2010 8:36am Jul 5, 2010 8:36am
Quoting mike w
Hell yeah brother, that's what I love to hear! Not even just that you're trading for a living which is awesome in it's own right, but that you know what life's all about. That's too cool brother.

Still ridin a lot??? I've been lookin for some good trails down here and a couple tracks, it's nothing like the riding in PA though. Everything's flat and I like being high in the sky lol
Im not riding as much as I used to but yes I do still enjoy it. Rode my quad yesterday in our annual 4th of July parade. It still gets a lot of attention as you can hear it a mile away LOL! Also just sent in my $ for our annual Terlingua Desert Ride down (11 hr drive from here)near the border. The first day we take it easy and will ride 175 miles in about 4 hrs. The next day we run balls out and do another 175 miles in just under three hrs. It is desert riding at its best bro! I rode last year with a guy who flew in from PA. Many come from all over the globe to do this one. As time and money allow, I'd like to do the Baja 250 on my bike and then later in life just to say I did it, the 1000 on 4 wheels of some type.

K.I.S.S.
  • #1,527
  • Jul 5, 2010 11:52am Jul 5, 2010 11:52am
I totally forgot about that chf/jpy trade because it wasn't on my screen anymore but it was closed at a gain of 5 pips. I really just wanted to get out of it and I figured it would get to that point anyway with how the price action was rolling.
I dream, therefore I become.
  • #1,528
  • Jul 5, 2010 7:43pm Jul 5, 2010 7:43pm
Quoting KissFan
Im not riding as much as I used to but yes I do still enjoy it. Rode my quad yesterday in our annual 4th of July parade. It still gets a lot of attention as you can hear it a mile away LOL! Also just sent in my $ for our annual Terlingua Desert Ride down (11 hr drive from here)near the border. The first day we take it easy and will ride 175 miles in about 4 hrs. The next day we run balls out and do another 175 miles in just under three hrs. It is desert riding at its best bro! I rode last year with a guy who flew in from PA. Many come from all over...
That's awesome brother! I bet the parade was cool, what kind of exhaust do you have on it?
And I remember your photos from the last Terlingua ride and I was in awe my man. That area looks like the best ride ever. Didn't you tell me there was an older lady that just ripped it wickedly fast? lol Crazy man. There's nothing more fun than a full day of riding. (Especially if you still go to that awesome barbeque place later on!)

175 miles ridin in a day, that's a damn good day IMO! Damn, can't beat that at all. And yeah, I know a guy that flew down for it last year now, I just met him at High Point motocross this year.

I'm with ya on both the 250 and 1000. I plan on both and hopefully in the near future. 250 on the bike, 1000 on a Yamaha 450 quad more than likely. I think both really are an achievement just to get through, especially running a two stroke.

Other than that, I've been doing a LOT of road riding lately. I hit a new high speed on a bike (One word- Hayabusa), which I probably shouldn't note on here just in case there are any narcs lol People always say they don't want to go that fast again but damn, I would in a heartbeat. It's such a rush.
I dream, therefore I become.
  • #1,529
  • Jul 5, 2010 7:44pm Jul 5, 2010 7:44pm
Quoting mike w
Here's one I got into at .6875. The nzd/usd printed out a beovb at the 28.
Price is starting to move lower now and I actually think I'll be holding onto this one with the price action on the weekly charts looking primetime for more downside.
I dream, therefore I become.
  • #1,530
  • Edited 11:28am Jul 6, 2010 11:11am | Edited 11:28am
Quoting mike w
Price is starting to move lower now and I actually think I'll be holding onto this one with the price action on the weekly charts looking primetime for more downside.
Grrr, I'm really looking for a runner on this pair. I took a 20 pip loss on that bad boy because of that thought, although I'm still looking for it to give a notion to the downside. Actually 22 but who's counting.
I dream, therefore I become.
  • #1,531
  • Jul 6, 2010 2:42pm Jul 6, 2010 2:42pm
Quoting mike w
Grrr, I'm really looking for a runner on this pair. I took a 20 pip loss on that bad boy because of that thought, although I'm still looking for it to give a notion to the downside. Actually 22 but who's counting.
This is exactly what we look for. The 20-50 trap has been a solid trade setup for longer than I've been alive.
Attached Image (click to enlarge)
Click to Enlarge Name: this is ittttt.gif Size: 18 KB
I dream, therefore I become.
  • #1,532
  • Jul 6, 2010 6:24pm Jul 6, 2010 6:24pm
Good evening Mike!,
Quick question for you.What are those ma's you usually have on your chart.Is this one of vegas's templates?Thanks again Mike,...Josh
  • #1,533
  • Jul 6, 2010 8:52pm Jul 6, 2010 8:52pm
Quoting jlmac27
Good evening Mike!,
Quick question for you.What are those ma's you usually have on your chart.Is this one of vegas's templates?Thanks again Mike,...Josh
Yes sir, if you're talking about the 28 ema with extensions of 89, 144, and 233, those are extensions that were brought about by Vegas a few years back. Diallist and a lot of the older guys used variations of this, although I pretty much stick to the basics. Other than that, I use the 21 ema and a 50 sma for the 20-50 trap setups that I like.

How's everything goin my man? I hope everything is good over on your side Josh!
I dream, therefore I become.
  • #1,534
  • Jul 7, 2010 9:33am Jul 7, 2010 9:33am
Here's one I got in on before going to breakfast. I'll be trading this down to 1.0485 initially. Finally getting out of these b/e setups again. I've noticed it time and time again, price will take a rest and you'll end up with a few B/E trades through that duration until we get a more solid direction bias. I call that cost of production.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad sevensevensss.gif Size: 21 KB
I dream, therefore I become.
  • #1,535
  • Jul 7, 2010 12:48pm Jul 7, 2010 12:48pm
Quoting mike w
Here's one I got in on before going to breakfast. I'll be trading this down to 1.0485 initially. Finally getting out of these b/e setups again. I've noticed it time and time again, price will take a rest and you'll end up with a few B/E trades through that duration until we get a more solid direction bias. I call that cost of production.
T/P reached for 70 on that one. I placed other trades but they weren't posted real time so I won't even post about them unless somebody wants to see the charts. There were setups all across the board today. I'm done for the day, have a good one ladies and gents!
I dream, therefore I become.
  • #1,536
  • Jul 7, 2010 2:16pm Jul 7, 2010 2:16pm
Mike, I'd like to see your other setups from today if you get a chance to post them.

And a question about your Usd-Cad trade: Was your entry based on the lower high after the double/triple-top on the 4H or was it based on the pullback to the moving average?
  • #1,537
  • Jul 7, 2010 3:03pm Jul 7, 2010 3:03pm
Quoting bparks
Mike, I'd like to see your other setups from today if you get a chance to post them.

And a question about your Usd-Cad trade: Was your entry based on the lower high after the double/triple-top on the 4H or was it based on the pullback to the moving average?
Sure thing! I'll post those up in just a sec after I take a screenshot of them. As for the usd/cad setup, it was based on the 4 hour setup on a different price feed (shown) as well as this hourly bar.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4 hour setup.gif Size: 21 KB
Click to Enlarge Name: taken by the hour.gif Size: 21 KB
I dream, therefore I become.
  • #1,538
  • Jul 7, 2010 3:12pm Jul 7, 2010 3:12pm
Here are two others from today that have already reached T/P as well. Gbp/usd and chf/jpy setups.

These setups, in line with the trend, will bring a great deal of profit time and time again. I wish I could remember the gain rates from just the gbp/usd over the past few years just running with the trend on the 4 hour. I'm pretty sure it was along the lines of 90 trades taken with 70 as gains just in 2009 (those are not exact numbers). I'll know for sure when I head back to PA and find my older papers.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chfjpy sevenseven.gif Size: 19 KB
Click to Enlarge Name: gbpusd seven seven.gif Size: 17 KB
I dream, therefore I become.
  • #1,539
  • Jul 7, 2010 3:15pm Jul 7, 2010 3:15pm
If you can't wait long enough to takes trades ONLY with the trend, you have no place in this business. That's such a huge statement that needs to be said a LOT. I've taken sooo many trades with and against the trend that I now know that C/T trades are just dumb to take. The only time they are worthwhile is if the setup is 100% perfect and no less.
I dream, therefore I become.
  • #1,540
  • Jul 7, 2010 4:44pm Jul 7, 2010 4:44pm
Thanks Mike.
Does the 4H trend guide your lower timeframe entries as well?
0 traders viewing now