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My trading Journal

  • #21
  • Jan 2, 2012 2:01pm Jan 2, 2012 2:01pm
Quoting fx learner1
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 )
So, you'll have to be watching your chart to see if price would drift outside of the L-MLH or U-MLH of your forks in order to place your stops.

Should price drift in that manner, the L-MLH (lower parallel) of your upward fork, which would be support should price remain in the fork, would become a potential resistance area in that event. A buy stop being triggered around a resistance area I think would be risky. Does that make sense to you now?

All the best with your trading quest.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #22
  • Jan 2, 2012 2:15pm Jan 2, 2012 2:15pm
Quoting FX4Newbies
So, you'll have to be watching your chart to see if price would drift outside of the L-MLH or U-MLH of your forks in order to place your stops.

Should price drift in that manner, the L-MLH (lower parallel) of your upward fork, which would be support should price remain in the fork, would become a potential resistance area in that event. A buy stop being triggered around a resistance area I think would be risky. Does that make sense to you now?

All the best with your trading quest.

FX4
of course it makes sense now !!! thanks for the tip ... That is a gold nugget which i would GRAB ....

There are situations where support become resistance and vice versa....
let us see what happens .. I will be waiting

Thanks for the tip.
I am the one and only profitable forex trader, but not the only one
  • #23
  • Edited 3:00pm Jan 2, 2012 2:19pm | Edited 3:00pm
Quoting fx learner1
of course it makes sense now !!! thanks for the tip ... That is a gold nugget which i would GRAB ....

There are situations where support become resistance and vice versa....
let us see what happens .. I will be waiting

Thanks for the tip.
Do take care. There is alot to learn...the subtleties of the market can only be gained best through experience, not to mention developing your trading self. Take your time.

All the best,

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #24
  • Jan 2, 2012 2:29pm Jan 2, 2012 2:29pm
Just waiting for a perfect setup on GBPUSD ....

I dont know why I don't like EURUSD ( the major fx pair )

will post any further info
I am the one and only profitable forex trader, but not the only one
  • #25
  • Jan 2, 2012 2:43pm Jan 2, 2012 2:43pm
i am just showing the duration of my trades ( how long i keep my trades open )

i normally close them manually...eventhough, TP is not reached .

( i cant eyeball charts, because I am doing my Edexcel A'level on June 2012..so i am preparing for the new academic year )

usually i keep trades open for four days .

just have a look at the statement ..
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I am the one and only profitable forex trader, but not the only one
  • #26
  • Jan 2, 2012 3:41pm Jan 2, 2012 3:41pm
Before going to bed i saw a potential trade of AUDUSD .

Again I am expecting that price would make one complete cycle around the median line

lot size is 0.02

I am off to bed, by putting SL at all open orders ...... but no TP ..

Have a nice day .. and It was a great trading day spending some time with FF . and also learnt new things .

See you tomorrow.
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I am the one and only profitable forex trader, but not the only one
  • #27
  • Jan 2, 2012 9:50pm Jan 2, 2012 9:50pm
AUDUSD trade closed by hitting the SL

Now going long on GBPUSD. I am enteringg this trade becuase M15, H1, H4 is giving a buy signal . Hope it goes well
I am the one and only profitable forex trader, but not the only one
  • #28
  • Jan 2, 2012 11:31pm Jan 2, 2012 11:31pm
I am going long on NZDUSD .. Lets see what happen

The reason why I took this trade is that price have passed through upper trigger line . so it is a signal to buy

So far 3 wins and 2 losses ( closed trades ) ..... P/L is +4.35
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I am the one and only profitable forex trader, but not the only one
  • #29
  • Jan 2, 2012 11:33pm Jan 2, 2012 11:33pm
A snapshot of my GBPUSD ... ( going long )
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I am the one and only profitable forex trader, but not the only one
  • #30
  • Jan 2, 2012 11:39pm Jan 2, 2012 11:39pm
I see from the USDCAD chart that price failed to reach the median line and it is a few pips away from my SL . SO I have opened a sell order with 0.02 lot size . Let us see what happens .
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I am the one and only profitable forex trader, but not the only one
  • #31
  • Jan 3, 2012 12:09am Jan 3, 2012 12:09am
Quoting fx learner1
I see from the USDCAD chart that price failed to reach the median line and it is a few pips away from my SL . SO I have opened a sell order with 0.02 lot size . Let us see what happens .
Price may move up in USDCAD..because RSI and Stochastic show that price is in an oversold level.. that is why i used 0.02 lot size in the sell order ... (0.02 is for low risk/low probability trades )

(by the way my USDCAD buy position is not closed...because SL is not hit . )
I am the one and only profitable forex trader, but not the only one
  • #32
  • Jan 3, 2012 12:27am Jan 3, 2012 12:27am
One more reason why I am going long on GBPUSD ... As u can see from the diagram..price reaches the support level, but does not break that level and is moving up..SO i am expecting that it would reach the previous resistance level . The expected area is indicated by a rectangular box . i will put my TP on some where around that ...

However I posted the Daily chart.. H4 chart also shows the same thing.. (even though Time frames are different price is showing the same thing on all charts )
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I am the one and only profitable forex trader, but not the only one
  • #33
  • Jan 3, 2012 4:37am Jan 3, 2012 4:37am
going short on USDCAD ............

will upload charts later
I am the one and only profitable forex trader, but not the only one
  • #34
  • Jan 3, 2012 5:09am Jan 3, 2012 5:09am
here is a snapshot of my open trades P/L (as points )

I entered the USDCHF trade too lately ....that is the main reason why it is in -ve
(i was asleep at that time )

Will post any updates
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I am the one and only profitable forex trader, but not the only one
  • #35
  • Jan 3, 2012 5:34am Jan 3, 2012 5:34am
Just now my GBPUSD order closed by hitting TP ( after taking these snapshots ) ...

I am having problem is adjusting the TP for NZDUSD .. so i didnt put a TP

These charts are an update to my trade....

Currently all 3 open trades are giving a profit of 82.1 pips
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I am the one and only profitable forex trader, but not the only one
  • #36
  • Jan 3, 2012 5:43am Jan 3, 2012 5:43am
Just now closed the long NZDUSD at the last resistance level

trade opened at 0.78402 closed @ price 0.78870

expecting for a trend reversal (i dont think resitance would break )
I am the one and only profitable forex trader, but not the only one
  • #37
  • Jan 3, 2012 5:55am Jan 3, 2012 5:55am
currently in a long trade of CHFJPY @ 82.099 .
TP is set at a suitable resistance level

The reason for going long is that i am expecting price to reach to the median line.

i opened this trade at 0.01 lot size ..... just to lower the risk
never risk more than 3% of ur account

have a nice day
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I am the one and only profitable forex trader, but not the only one
  • #38
  • Jan 3, 2012 6:04am Jan 3, 2012 6:04am
Quoting fx learner1
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 )
A trading journal is a very good thing to have. But what system (method) do you use in your trading. How much do you risk per trade. I've read one post in this thread and you were already in a trade without having a SL place - not my style and not the rules I use. Always have a SL and of course an entry point while TP might be adjustable. There are some lines I liked - one triangle drawn correctly. This is one of the things I use in trading. S/R levels of course, MACD, and statistical data. By the way: how long have you been trading for?
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #39
  • Jan 3, 2012 6:21am Jan 3, 2012 6:21am
i saw a double bottom....and i was too late to trade the breakout..but usually those breakout trades generate a 100 pip move ...

i am sad that i missed it but still i am expecting price to move up..
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I am the one and only profitable forex trader, but not the only one
  • #40
  • Jan 3, 2012 6:46am Jan 3, 2012 6:46am
Quoting Mr.C
A trading journal is a very good thing to have. But what system (method) do you use in your trading. How much do you risk per trade. I've read one post in this thread and you were already in a trade without having a SL place - not my style and not the rules I use. Always have a SL and of course an entry point while TP might be adjustable. There are some lines I liked - one triangle drawn correctly. This is one of the things I use in trading. S/R levels of course, MACD, and statistical data. By the way: how long have you been trading for?
I have been in Forex trading for 1.5 years . But as I have to study my school stuff, I cant concentrate on Forex that much. But now i got a 6 months break ..So trading full time for the first time


About Stop loss >>> i manually close trades and sometimes put SL . most of the time i close them manually
I am the one and only profitable forex trader, but not the only one
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