My trading Journal | 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: My trading Journal
Exit Attachments

My trading Journal

  • #1
  • First Post: Edited Jan 2, 2012 9:53am Dec 24, 2011 2:45pm | Edited Jan 2, 2012 9:53am
I thought of posting a thread here, but was waiting to post a thread when I start trading full time.

I have stopped trading for 2011 , Then i will trade on January 2012.

First of all a background info.

I have been in Forex market for approximately 1.5 years. I was introduced to forex by a friend on May 2010, and Till now I have been collecting info about forex and learnt quiet a lot and read a lot of ebooks. Free and Commercial ones.

At first I blew up 3 accounts. I went straight to margin call. However this changed when I took trading seriously. i improved. My account went to -ve and then I managed to bring the account back to normal +ve . That was the first time it happened. i still remember the date. It was 1 November 2011. Now I am away from margin calls. And I am happy about that, but still I lack a solid strategy.

As a result, I payed a pro forex trader to learn his methodolgy and appointed him as my mentor. (I have no time to build my own strategy and at the same time make money, that is why I choose a mentor, but after the mentoring I will try to make my own system ).

I will post my trades in this thread on 2012.

To know more about me send me a PM. ( we can arrange a skype chat or so. )

PS : I am not a pro trader or a newbie ( i am an amaetur trader ...... ) my aim is not to blow u an account
I am the one and only profitable forex trader, but not the only one
  • #2
  • Jan 2, 2012 9:29am Jan 2, 2012 9:29am
I am currently going short on NZDUSD ....

my TP is set at the resistance level .... and i will set a SL shortly and inform if the trade is closed by either hitting TP or SL .. or i may manually close it ....

i am expecting price to go down (in long term )
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 14 KB
I am the one and only profitable forex trader, but not the only one
  • #3
  • Jan 2, 2012 9:45am Jan 2, 2012 9:45am
Here is the main reason why i took the trade.. I am a forker

i use andrews pitchfork in trading.... as u can see from the chart, to complete one cycle price should rally downwards... so i opened a short position...a after that position hit my TP... i may open another trade with a higher TP ( maybe TP around the median line )

Most PA traders would have profited from that double bottom ... ( i missed that ... )


PS: i am currently using pitchfork in trading because i am learning the basics of a new system(so until i master it, i will use pitchfork in my demo account )
Attached Image (click to enlarge)
Click to Enlarge Name: 2.gif Size: 18 KB
I am the one and only profitable forex trader, but not the only one
  • #4
  • Edited 10:08am Jan 2, 2012 9:52am | Edited 10:08am
I welcome all comments from everyone (a pro trader or a newbie)

it would be my pleasure to see comments on my thread and good piece of advices, because i am sure that would help me in my trading....

if i make a mistake, i hope that my fellow traders in FF would help me out and put me in the right path of trading and direct me to a good shore ....

PS : my signature is my motto (it makes me happy to see that )
I am the one and only profitable forex trader, but not the only one
  • #5
  • Jan 2, 2012 10:06am Jan 2, 2012 10:06am
I am going long on USDCAD... Expecting that price would reach the median line .

I am going long because, RSI is giving a buy signal ( price is above 50.0000 line )
So far I have not set a TP or a SL

I close my trades usually by manually evnthough i use TP and SL.
Some times i keep my trades open for a long period of time (2 -5 days ), because i use H1 chart , so it takes time for the price to reach the median line .

Regarding NZDUSD trade(my first trade ) ... I may change the TP a little below or near to the median line ......
Attached Image (click to enlarge)
Click to Enlarge Name: 3.gif Size: 19 KB
I am the one and only profitable forex trader, but not the only one
  • #6
  • Jan 2, 2012 10:08am Jan 2, 2012 10:08am
Happy new year mate.

I trust you also look at larger TFs for S/D or S/R?

Be interesting to see your progression using pitchfork and such.

There are some great traders on here that share very valuable info. If you would like I can forward you to some threads/members to save you some time.

Here is a larger TF view of NZDUSD. TL came from monthly.

Have you looked at other pairs with lower spreads?

..
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd.gif Size: 39 KB
  • #7
  • Jan 2, 2012 10:18am Jan 2, 2012 10:18am
My first trade of NZDUSD closed ..by hitting the TP......


I will open another short position ..later ...after seeing a little price action

..i opened the trade at 0.77832 and trade closed at price level 0.77657

i always use a lot size of 0.05 ... got USD 8.75 from this trade
I am the one and only profitable forex trader, but not the only one
  • #8
  • Jan 2, 2012 10:21am Jan 2, 2012 10:21am
Quoting Tyoon
Happy new year mate.

I trust you also look at larger TFs for S/D or S/R?

Be interesting to see your progression using pitchfork and such.

There are some great traders on here that share very valuable info. If you would like I can forward you to some threads/members to save you some time.

Here is a larger TF view of NZDUSD. TL came from monthly.

Have you looked at other pairs with lower spreads?

..

1) what is the long form of S/D ?? (support and divergence ???)
2) Yeah!! it wud be great if u cud direct me to those threads, my order hit TP so it is closed
3) I am thinking of opening a short position later... after seeing some PA
I am the one and only profitable forex trader, but not the only one
  • #9
  • Jan 2, 2012 10:28am Jan 2, 2012 10:28am
Quoting fx learner1
1) what is the long form of S/D ?? (support and divergence ???)
2) Yeah!! it wud be great if u cud direct me to those threads, my order hit TP so it is closed
3) I am thinking of opening a short position later... after seeing some PA
S/D is supply and demand. I'll PM you some links.

What's your next set up and how are you using your forks etc..?
  • #10
  • Jan 2, 2012 10:43am Jan 2, 2012 10:43am
First of all, Let me Thank you for your info and help .

I am currently doing some analysis on USDCHF (TF- H1)

Here are some of the points which i keep in mind when i am using a pitchfork .

1) Price travels in cycles, like sine curve .. We cant say like a tan curve ( )
because tan curve is like a "s" shape and their are points at infinity (which cant be applied to market). Sine curve is best applied . So, like a sine curve ... price makes one complete cycle around the median line . So if i see that price is around the median line ( maybe near a parallel line ) i open an order, expecting that price would reach the median line . Andrew said that price reaches the median line 80% of the time .

2) If price reaches or didnt touch a median line i draw additional lines called trigger lines. If price penetrated through a lower trigger line i sell and vice versa . ( i love to see these type of setups )

3) Price bounces like a ball.( If a ball hit the ground it bounces back / ) basically it is S/R .

Those are the main 3 rules .. I find action /reaction rule a little complicated...so i am not applying it.

In fact, to be honest.. I dont know how to apply action reaction rule to the market and i deeply regret it( i am still trying to learn that )

Moreover, I use RSI and oscillators and to see overbought/oversold areas and divergences .

I hope I answered ur question...

I will upload my analysis for USDCHF in a moment

(loosing is part of the game ... so all of my trades may not be profitable ..and i am not a pro )
I am the one and only profitable forex trader, but not the only one
  • #11
  • Jan 2, 2012 10:48am Jan 2, 2012 10:48am
You may feel that i am always saying "sine curve .... " but i never show a sine curve ....

here is wat a sine curve looks like, as u can see it completes one cycle like wise wen using pitchforks we expect that prices also would complete one cycle around the median line

PS : i hope u wud understand my english ( english is my second language )
Attached Image
I am the one and only profitable forex trader, but not the only one
  • #12
  • Jan 2, 2012 11:04am Jan 2, 2012 11:04am
Trading involve patience.. So i am waiting for this pair to fullfill either my
sell stop or buy stop ( this is one cancels other or OCO order ) .
---------------------------------------------------------------------
I call these types of situations pitchfork indecision , because one pitchfork is giving a buy signal and other is giving a sell signal. So the best method is to wait till price penetrates through one of the trigger lines .

Let me Elaborate the diagram :

1) In order for the price to reach the pink pitchforks' median line price has to move up>> so we shud be buying (but i am not )

2) In order for the price to reach the purple pitchforks median line, price shud move down >> so we shud be selling (but i am not )

3) as a result of incidents 1&2 i drew trigger lines . I have put a pending order so i shudnt be eyeballing the charts . If price goes through the pink pitchforks' lower trigger line a sell order will be activated AND If price goes through the purple pitchforks upper trigger line a buy order will be activated.

I dont care how long it takes for these orders to be filled(as this is H1 chart i think it will take time ).. I will be waiting till price penetrates through one of the trigger lines.

PS : By using Tyoons' advice, next time i will be doing some analysis on larger TFs before entering a trade

-Trigger lines are the solid dark pink lines-
Attached Image (click to enlarge)
Click to Enlarge Name: 4.gif Size: 23 KB
I am the one and only profitable forex trader, but not the only one
  • #13
  • Jan 2, 2012 11:17am Jan 2, 2012 11:17am
Good luck with your trading. Hope you master this technique and become as wealthy as you wish.
  • #14
  • Jan 2, 2012 11:19am Jan 2, 2012 11:19am
Interesting. You must also realize that USDCHF is closely inversely correlated with EURUSD (the most popular pair). The Euro is seeing new lows because of it's increasingly expected collapse. So all major negative news that affects the Euro will affect the USDCHF because of the relation they both have to the Dollar. So if EURUSD goes down, USDCHF goes up (generally).

It's important to be mindful of this because a bullish setup on one pair may look like a bearish setup on another correlated or inversely correlated pair.

So my advice is this. Use your pitch fork on USDCHF and EURUSD and see if they are saying the same thing.

This may sound like a load oh 'blah' but it's important to understand the relations between pairs because no pair moves independently from the others.
  • #15
  • Jan 2, 2012 11:31am Jan 2, 2012 11:31am
Quoting KMidas
Good luck with your trading. Hope you master this technique and become as wealthy as you wish.

Thank you....
I am the one and only profitable forex trader, but not the only one
  • #16
  • Jan 2, 2012 11:32am Jan 2, 2012 11:32am
Quoting Tyoon
Interesting. You must also realize that USDCHF is closely inversely correlated with EURUSD (the most popular pair). The Euro is seeing new lows because of it's increasingly expected collapse. So all major negative news that affects the Euro will affect the USDCHF because of the relation they both have to the Dollar. So if EURUSD goes down, USDCHF goes up (generally).

It's important to be mindful of this because a bullish setup on one pair may look like a bearish setup on another correlated or inversely correlated pair.

So my advice is this....
I agree with you... And I know that in forex pairs are corelated . ( i read the book by Henry Liu ..that book explains that in detail ) .
I will check on that ... and Thanks
I am the one and only profitable forex trader, but not the only one
  • #17
  • Jan 2, 2012 11:41am Jan 2, 2012 11:41am
[quote=fx learner1;5261397]Here is the main reason why i took the trade.. I am a forker

i use andrews pitchfork in trading....

Hi FX

Its funny I saw sine curve on your chart because I was working on them this weekend as they relate to market waves. When I finish my sine wave thoughts I'll make sure I post them here. The work is to find the correct center line.
All the best
Curt

http://screencast.com/t/ZCP2WtVfuFh
  • #18
  • Edited 11:55am Jan 2, 2012 11:44am | Edited 11:55am
Quoting fx learner1
Trading involve patience.. So i am waiting for this pair to fullfill either my
sell stop or buy stop ( this is one cancels other or OCO order ) .
---------------------------------------------------------------------
I call these types of situations pitchfork indecision , because one pitchfork is giving a buy signal and other is giving a sell signal. So the best method is to wait till price penetrates through one of the trigger lines .

Let me Elaborate the diagram :

1) In order for the price to reach the pink pitchforks' median line price has...
Per your chart...what would be your strategy if price drifted to the right outside of both your forks, triggered one of your stop orders and then went the other way? At that point, your buy would be at a resistance area and vice-versa. That is another option given the time of day.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #19
  • Jan 2, 2012 1:49pm Jan 2, 2012 1:49pm
[quote=placetotrade;5261559]
Quoting fx learner1
Here is the main reason why i took the trade.. I am a forker

i use andrews pitchfork in trading....

Hi FX

Its funny I saw sine curve on your chart because I was working on them this weekend as they relate to market waves. When I finish my sine wave thoughts I'll make sure I post them here. The work is to find the correct center line.
All the best
Curt

http://screencast.com/t/ZCP2WtVfuFh
I couldn't view that link..dunno why ???

are u great at maths ? telling the truth, i am excellent in maths...but i am having problems applying that into finacial markets.. I am also trying to find a centre line(a good one ) but it is very hard...

I am waiting for ur research

What if Market is moving like tan waves ??? That would really be funny .... but i am sure it won't..it will NEVER happen

As you can see from the attachment, Cosine curve has a line of symmetry so we cant apply that to finacial markets(i wish we cud)... price has no limit..it may make lower lows, higher highs etc.... so there is no line of symmetry .

So only sine curve can be applied. But the problem is the centre line.. How to find it ? Can we ? I am sure it will take years of extensive research..trail and error ...... I hope you do succeed .

I cant wait to see ur sine wave thoughts.
Attached Images
I am the one and only profitable forex trader, but not the only one
  • #20
  • Jan 2, 2012 1:54pm Jan 2, 2012 1:54pm
Quoting FX4Newbies
Per your chart...what would be your strategy if price drifted to the right outside of both your forks, triggered one of your stop orders and then went the other way? At that point, your buy would be at a resistance area and vice-versa. That is another option given the time of day.

FX4
If one of my stop is triggered i will put a SL immediately on a good level...so if price goes against me it would hit SL ........

PS : I really didnt understand wat u said .( hope i understood it correctly )
I am the one and only profitable forex trader, but not the only one
0 traders viewing now