Welcome to my world... Its not easy but its profitable

Greetings Guys and Girls,

Who wants to join me as I attempt to get the market to pay me day in day out ..... well sort of...

I have been trading for around 7 years and have literally made evry mistake in the book! I have gone through countless different systems and approaches to trading the markets, and in fact almost ended up doing a full circle, but eventually found what works for me. My approach will not necassarily be for everyone, but it fits my personality.

I trade both long term and intraday charts and I trade anything that moves FX, Emini's, Stocks, Commodities... you name it I will trade it if the setup is right.

Having said all of that, I am open to a much wider variety of instruments for my longer term trading than I am on an intraday basis.

For my intraday trading I focus on a few currency pairs, the eminis and stocks. I tend not to trade the dead times (during the middle of the sessions) as the markets don't like me much during those periods

As we progress through this journal I will show you guys & girls exactly what it is I do on a daily basis in attempting to get a pay check from Mr. Market.

There is no secret here and the system is discretionary in parts but I think if you pay attention, you might take something away from this thread that will benefit your current style of trading if not convert you completely to my way of trading

Until next time...

Nexas

So my charts are pretty clean... although I have a different setup for my longer term (4hr or Daily) to my intraday.

So lets start with the longer term charts... Naked... I don't have anything on them at all. I use support and resistance, trend lines and fibonacci to find entries but other than that I have absolutely nothing else on them.

As for the intraday... well I use the range bars. I am not sure that you can get them on something like Metatrader. I use NinjaTrader currently for my charting. I find range bars tend to get rid of some of the noise that you get on a time dependent chart. However I do also use 5 minute charts but mainly to look at direction and the slightly bigger picture.

On my shorter term charts I use 3 EMA's... the 20, 60 and 100. Then of course I use the main tools as mentioned above S&R, TL's and Fibs.

More to come...

It has been a bit of a frustrating morning. No real direction... I have taken 4 trades so far on the EUR/USD and have pretty much broken even on all of them... well... I am 2 pips up on the day...

can you give some simple overview about your entry to the market

Hi Ananthhh,

Yes sure. It is pretty simple really. I look for price to move in a direction then as soon as I see this I jump on board during a pull back. I prefer not to buy highs and sell lows so I enter on a pull back in the price action.

The pull back doesn't have to be to a particular level although it helps if it does and adds more weight to the trade.

Personally I move my stop to break even relatively quickly which means I do get stopped out a lot of the time from break even, but I know this and accept it. It just suits my personality.

If you need more info or explanation tell me and I will try my best to add more.

Nexas

OK I am done for the morning... I seem to be the breakeven king this morning... I added two more to my tally... so 3 pips for an entire mornings work... The markets are annoying when they are like this... but then there is always the afternoon sessions, so things could really change then, in fact it is alsmost as if the markets do not want to move before then...

Lets see...

Yesterday yielded more of the same so I ended up a few pips up on the day.

Today was better but I missed the entire morning session and most of the US session. However I managed to take 5 trades; 2 were profitable, 2 were losses and 1 was break-even.

Great mornings trading. 5 wins, 1 break even and 1 loss... all on the EUR/USD.

Can't complain

I am done trading now til the US sessions starts...

This afternoon was also very kind to me 5 wins, 1 loss, 1 be.

The market seems to have lossed a little momentum so I think I am done for the morning. 2 wins and 1 be.

Can you elaborate this a little.

Hi Ananthhh,

Yes generall I am looking to enter in the direction of a trend in strong trending markets. So when I see price moving with momentum, I look for a period of time when price is taking a breather so that I can get an entry just as the next leg of the trend is about to begin.

I use a trend line break to get me in.

Is that clearer?

Nexas

OK I know it is short lived but I am going to close this thread down so to speak. I am not going to continue to post my updates here as I stumbled up a slightly more sophisticated trade journal site (I will not post a link or give a name as I think this could be against the rules).

However I do like this forum and will continue to participate in other threads.

Thanks for reading my little journal.