KMidas trading journal

This is my spot for posting possible trades. Mostly price action with a little help sometimes from moving averages, Donchian Channels and ADX. The purpose of this journal is twofold:
1. to document easily my trades and come back later to analyze them and
2. hopefully to get some constructive criticism from the members on this forum.

I am by no way a consistently profitable trader but at least I am breaking even. After I blown my account in zulutrade I decided that there is no better option than actively managing my account my self.

My time frame will be daily or 4H at least. Maybe if a super opportunity appears in 1H or 15min I will take it, but I will try not to make it a habit to trade there.

To all my visitors welcome and happy reading. To me, good luck

Let's see this one. Not much in R:R but still a valid trade

In the NZD/USD weekly chart we see the pair was in a uptrend but now that trendline is broken and it is testing it from below. My hope is that it will kiss it goodbye and will turn down at least to the previous resistance line.

The daily chart is trending down. Unfortunately this is not a nice and clean downtrend but it does make lower highs and lower lows.

Both in the weekly and the daily the swing is retracing by 50%. Added bonus we have last weeks gap to close.

Short @0.7710
SL @0.7847
TP @0.7414

EUR/JPY weekly is in downtrend but it is ranging . We do trade far from the weekly trendline but in the daily price has been rejected from the resistance @104.85.

The retracement is deep only by 23.6% on the daily

Short @103.99
SL @105.79
TP @102.52

http://www.forexfactory.com/showthre...83#post5193383

This trade started to turn around. I didn't wait to get a full loss and closed it early. I had moved my stop lower but exited anyway.

-181 pips loss

-USD/CHF daily has broken the 20 days upper Donchain Channel.
-MA(200) flattening below the price
-MA(100), MA(30), MA(50) are all arranged properly
-The price bounced off the daily trendline and made new daily high, not only 20 days high but 100 days high also.
-The dollar has shown strength in the recent weeks so I will prefer this signals instead that of GBPCHF
-Unfortunately the weekly and monthly trend are still bearish, that is why my TP is going to be modest. We are trading far from that bearish trendline anyway.

Long @0.9411
SL @0.9166
TP @0.9729

http://www.forexfactory.com/showthre...17#post5196417

TP got hit and I gained +145 pips. A bit disappointed because price continued lower and I left so many good pips on the table, but then again I got what I aimed for. Didn't I?

http://www.forexfactory.com/showthre...84#post5196384

Unfortunately this trade didn't reach my TP. It found resistance right to the gap and turned around. I should have protected some pips by trailing the stop above the green bar, there where I have the red line. Unfortunately I got greedy and hopped it will continue down. I got wise after the price started to move above my sell. line. Small loss but a big stroke for my ego. Not that much about the lost pips but more for my poor judgement.

Loss -15 pips

http://www.forexfactory.com/showthre...99#post5216799

Another trade where I knew what should I do but I didn't do it. Again this is a case of greed blocking my judgement. I had the opportunity to get out or at least move my stop as soon a I saw the bearish engulfing bar. Usually these bars are used to signal entries on the other direction so WTF was I doing still in the position? I could get out break even or at least with ridiculously small loss. Again greed and hope were proven bad consultants.

Loss -117 pips

Well, at least I am still on the positive side in my account netting +10 pips for the month.

I know I probably should not trade this week but I did put an order anyway.

AUDJPY 4 hours chart broke this Monday the trendline and in hourly started making lower lows ans lower highs. The 79.500 level seems to hold well and the price is trading below the 61% of the retracement of the previous swing.
Take profit is set at the previous swing low.

Short @79.018
SL @79.540
TP @78.340

http://www.forexfactory.com/showthre...34#post5251634

Target got hit, profit got taken and I am up +68 pips.

Just stopping by to wish you goodluck on your trading journey. Nice to see someone posting his reflection/opinions about previously taken trades that also include the losers.

Thanks for stopping and for wishing

That is the purpose of the journal. To document good and bad trades. Success can teach us a lot but failure can teach us even more.

I also wish you good luck with your trading.

Happy new year, best of luck and many pips to everyone

NZD/CAD daily. Price made a new 20 days high and I entered a long above it. Reasons for this trade

1. New 20 days High.
2. MA(200) much below the price and pointing up.
3. Triple bottom pattern with each bottom being higher than the previous

The cons of this trade are that I entered the buy order right at the round number 0.8. Now it is happening a retrace that is to be expected because of the BRN(I know this after the fact lol) and I hope it will turn and it will continue higher.

One funny thing that happened with this trade is the way I got in. I gave a pending order late at night, before the bar close. Unfortunately I can't stay up until 3 a.m. when my broker closes the daily. A bit after I gave the order the spread jumped 18 pips so I got in with an 18 pips loss.

Long @0.8
SL @0.79
TP @0.9

This is probably the last trade I am entering with Donchian Channels for a while. I need to do more testing before I commit any more money to this strategy.

GBP/JPY in the weekly is trending down. In the 4 hours chart it retraced and formed a pinbar. After that pinbar the price broke the uptrendline.

Short @ 119.884
SL @120.220
TP @119.40

CHFJY weekly is trending down. That down trendline is a bit step but still pointing down. On the daily we have the price making new lows, retracing to that step trendline and bouncing down.

Short @81.543
SL @ 82.680
TP @78.36

http://www.forexfactory.com/showthre...19#post5267619

TP got hit. Up +48 pips

http://www.forexfactory.com/showthre...66#post5267566
TP got hit. +99.7 pips

By mistake I wrote above that TP in this trade was 0.9. It was 0.81.

AUDNZD weekly is right now in a place where two opposite trendlines meet. The uptrendline is broken long ago and now is tested from below while the new down trendline is beeing tested for the third time and it seems to hold. The price has rejected the 61.8% level of the fib retracement which also coincides with a pivot zone where price has flipped in the past.

On the daily chart price has made a triple top with the third top failing to reach the heights of the previous two. This happened after the breach of the shorter term up trendline. Unfortunately there is a resistance at the 1.3 level but I hope we can pass it.

Short @1.3048
Stop @ 1.3184
Target @ 1.2829