soya's journal

Hi everyone, I'm on vacation for a month, decided to use some of my free time to develop a new trading strategy. Hoping to use this journal to discipline my trades and test my ideas. I will be trading a demo account with 1:100 leverage and 10,000 USD starting capital with fxpro. Will be trading 1 hr charts with live posts and real-time updates. Will try to keep journal alive until I am too busy to continue. Will use myfxbook to help track my trades when I am lazy to upload charts.

Details of my strategy:

Portfolio instruments - Diversified instruments based on what the dealer offers.

1. WN - Wheat
2. CLN - Light sweet crude oil
3. NGN - Natural Gas
4. NKDU - Nikkei
5. EXM - Euro Stoxx
6. EPM - S&P500 e-mini
7. YMM - Dow mini
8. FFIM - FTSE
9. FSMIM -SMI
10. CN - Corn
11. SN - Soybean
12. Gold
13. EURUSD
14. GBPUSD
15. USDCHF
16. USDJPY
17. AUDUSD
18. USDCAD
19. NZDUSD
20. USDSGD

Entry and exit - Main idea is to cut losses and let profits run. Trading using a clean chart, based on identification of momentum using naked eye to enter and exit trades.

Money management - Aggressive, with 1 - 5% loss of account per trade,

Will start posting as soon as I enter trades.

Cheers

myfxbook: https://www.myfxbook.com/portfolio/edge/122874

NGN - Price momentum is up, enter on retrace, with SL at next support.

EXM - Price momentum is down, enter on retrace of resistance.

My orderbook as seen on myfxbook is a little messy now, still trying to grapple with the sizing used by the dealer.

cheers

Been a pretty good week after a rough start to my demo account last week. Yesterday's EURUSD trade was a major winner that helped me recovered all my prior small losses.

Trying to catch a breakout. Doesnt seem to be working as price has retraced into the horizontal channel.

Closed my nzdusd for a small profit as it doesn't look like the horizontal channel breakout was working correctly. Overall it seems to be pretty good so far, up 13%, however, it was considered fortunate due to the major eurusd winning trade.

On a slightly longer timeframe, looking to catch another channel breakout on usdjpy until end of this week, and also a short-term reversal on usdcad which has already completed 2/3 of its weekly range.

Cheers.

An interesting opportunity is setting up again for NZDUSD today. Will get it a couple more hrs to form a defined triangle before planning my move.

Seems like the short side is a higher probability trade.

as well it might be, it broke north instead.

Closed for a small loss of 5 pips.

Both trades doing decently well now. 2 more days for USDCAD to complete reversal to 0.9869. Looks quite likely to finish with a profit.

USDJPY however is a more interesting picture as it is still half of weekly range.

Meanwhile today's performance was mixed as I took a small stop and reverse profit on USDCAD after taking a small loss.

Having completed both its monthly and weekly range, there is a higher probability for GBPUSD to advance now with a breakout imminent. Good risk to reward with a daily target at 1.612, will watch out for this space during London open.

another interesting opportunity on USDCHF, horizontal channel breakout.

Poor trade, should have targeted at obvious yearly support. Resulted in 2 unnecessary losses.

USDCAD completed short-term reversal as expected.

Overall today's performance was mixed. Hopefully UJ can help round up an otherwise good week. Could have been better.