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First trading journal for me...

  • #1
  • First Post: Nov 19, 2012 7:37am Nov 19, 2012 7:37am
You can see my initial posting about flying buddah trading here: http://www.forexfactory.com/showthre...=395019&page=2

However, I am also looking to trade the Sonic system here: http://www.forexfactory.com/showthre...4792&page=2743

And I may add in an ema bounce off the 12 ema on the 1H and 4H timeframes.

However, I will discuss whichever strategy I used for each entry. This is for my personal development... hopefully other rookies can benefit as well. I did not want to connect the trade explorer to the flying buddah thread when I was going to be working on trading the two other systems.
  • #2
  • Nov 19, 2012 7:50am Nov 19, 2012 7:50am
A GBP/AUD Flying buddah that I missed.
Just getting back into the game.... I may miss a few.
Attached Image (click to enlarge)
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  • #3
  • Nov 19, 2012 8:55am Nov 19, 2012 8:55am
Quoting dafox1
A GBP/AUD Flying buddah that I missed.
Just getting back into the game.... I may miss a few.
Any chance you can briefly define how to identify flying buddah?
Trade As A Sniper
  • #4
  • Nov 19, 2012 11:00am Nov 19, 2012 11:00am
Quoting pama.fx
Any chance you can briefly define how to identify flying buddah?
more to come, but I am currently leaving for a couple hours.
  • #5
  • Nov 19, 2012 5:31pm Nov 19, 2012 5:31pm
Ok. I'm attaching the pdf file that is the basis for my flying buddah system. However, I do not trade ALL of the set ups. Only the Daily Chart!

I will post any trades taken tonight later... in about 30-40 min. I will be trading London session into ny session starting next week (switching to night shift), so I should have more action with the two other trading strategies.
Attached File(s)
File Type: pdf Flying Buddha trading system-1.pdf   183 KB | 411 downloads
  • #6
  • Edited 6:57pm Nov 19, 2012 6:06pm | Edited 6:57pm
Reentered trades on EurJpy and GbpJpy

Edit: reinforced position with half positions extra on each at better entries
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 19nov12.PNG Size: 44 KB
Click to Enlarge Name: 19nov12ej.PNG Size: 52 KB
  • #7
  • Nov 19, 2012 7:13pm Nov 19, 2012 7:13pm
On this chart I outline EU H1 EMA bounces that I am looking at trading. The basic concept is that when all of the MA's crossover and open up either down or up, one would place trades on the 5ema (grey) and 12 ema (red) bounces.
Also could trad 4H in much the same way...
Attached Image (click to enlarge)
Click to Enlarge Name: eu19nov12.PNG Size: 50 KB
  • #8
  • Nov 19, 2012 9:22pm Nov 19, 2012 9:22pm
Quoting dafox1
Ok. I'm attaching the pdf file that is the basis for my flying buddah system. However, I do not trade ALL of the set ups. Only the Daily Chart!

I will post any trades taken tonight later... in about 30-40 min. I will be trading London session into ny session starting next week (switching to night shift), so I should have more action with the two other trading strategies.
ok... now i recall... extraction from Graeme's thread... just wonder when G would return to his thread... it is indeed a good thread but he has left his thread long time ago (like many other good threads)... don't know why... well i will look into your notes to refresh the FB trading method and see how possible to incorporate it to my current trading... thanks, pal.
Trade As A Sniper
  • #9
  • Nov 19, 2012 9:26pm Nov 19, 2012 9:26pm
Quoting dafox1
On this chart I outline EU H1 EMA bounces that I am looking at trading. The basic concept is that when all of the MA's crossover and open up either down or up, one would place trades on the 5ema (grey) and 12 ema (red) bounces.
Also could trad 4H in much the same way...
do you trade above after confirming with FB?
Trade As A Sniper
  • #10
  • Nov 20, 2012 5:04am Nov 20, 2012 5:04am
Quoting pama.fx
do you trade above after confirming with FB?
Oh no I don't actually, but that would be a great idea for reentries.... hmmm... That's a good idea.
  • #11
  • Nov 20, 2012 7:37pm Nov 20, 2012 7:37pm
No trades tonight. no open positions. Thanksgiving week. visiting family... I'll be back Sunday Sunday Sunday!
  • #12
  • Nov 25, 2012 7:40pm Nov 25, 2012 7:40pm
you can see all trades entered above. No trade risks more than 1-2%. Just getting my feet wet so to speak.
  • #13
  • Nov 29, 2012 5:59am Nov 29, 2012 5:59am
1st real sonic trade audusd m15
Attached Image (click to enlarge)
Click to Enlarge Name: au29nov12.PNG Size: 53 KB
  • #14
  • Nov 29, 2012 6:42am Nov 29, 2012 6:42am
Feeler trade GJ m15 due to stalling out at resistance... low risk. R:R of 1:3.
Attached Image (click to enlarge)
Click to Enlarge Name: gu29nov12.PNG Size: 49 KB
  • #15
  • Dec 16, 2012 6:07pm Dec 16, 2012 6:07pm
Missed trades on eu, usdchf and a couple other pairs last sunday night.
Tonight entered on ej, eu, gu, gj all sell orders. the yen pairs have some pretty big gaps, so my targets will be the close of those gaps. These trades actually show up in compliance with my flying buddah sell rules.

Especially excited about the ej trade:
Attached Image (click to enlarge)
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  • #16
  • Dec 16, 2012 9:14pm Dec 16, 2012 9:14pm
Closed out these sunday night trades as I am comfortable doing. +104 pips total. One may notice an increase in return for these trades, and that is because I am now risking 2-3% per trade as opposed to <1% during those first trades. I won't go higher than 3% tho. But I feel like a 2% risk is very reasonable.
  • #17
  • Dec 20, 2012 7:13am Dec 20, 2012 7:13am
I took the pinbars that formed on the eu and gu on the daily... waiting to see how those play out. Also entered short on GJ since it usually correlates with GU. Wish I had been awake during the asian session to close out all of the trades for a small gain... oh well. We'll see what the market brings. (my mm is not that great on these trades either. I just kinda threw them on there...)

Waiting to see if the USD news (gdp and Unemployment claims) make a difference for the better in my trades....
Attached Image (click to enlarge)
Click to Enlarge Name: gu20dec12.PNG Size: 54 KB
  • #18
  • Dec 20, 2012 7:48am Dec 20, 2012 7:48am
Quoting dafox1
I took the pinbars that formed on the eu and gu on the daily... waiting to see how those play out. Also entered short on GJ since it usually correlates with GU. Wish I had been awake during the asian session to close out all of the trades for a small gain... oh well. We'll see what the market brings. (my mm is not that great on these trades either. I just kinda threw them on there...)

Waiting to see if the USD news (gdp and Unemployment claims) make a difference for the better in my trades....
had to close these trades bc my mm was horrible on these trades. I shouldn't have placed them last night with such big stops. win some and loose some. Drive on.
  • #19
  • Dec 20, 2012 3:41pm Dec 20, 2012 3:41pm
Quoting dafox1
had to close these trades bc my mm was horrible on these trades. I shouldn't have placed them last night with such big stops. win some and loose some. Drive on.
In light of what happened here today, I have come up with a list of questions to answer for myself when considering a trade:

1.Is this a valid entry (why am I entering this trade)?

2.What is the overall trend on this timeframe and one timeframe up (to identify countertrend or with trend trade)?

3.Where should my SL and TP be located (is there enough space for the trade to move before the next resistance level)?

4.What is the lot size I should use for this trade based on my money management (2% or less)?

5.Should I scale out of the position?

6. Am I taking this trade out of greed, fear, or any other emotion (am I trading just because I feel like I need to)?
  • #20
  • Dec 20, 2012 11:37pm Dec 20, 2012 11:37pm
Quoting dafox1
had to close these trades bc my mm was horrible on these trades. I shouldn't have placed them last night with such big stops. win some and loose some. Drive on.
All of the trades would either be in break even or in profit now, but I think I learned a valuable mm lesson today. I closed out my trades halfway to their SL's meaning I had at least one part right, but the mm was just horrendous. I don't gamble on the markets anymore...
I have a couple years still to learn this fx stuff better. seems like my technical judgement is fine, but my mm and emotional discipline intertwined are my issue as of now.
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