A Rookie Dips His Toes

If you find the grail before I do let me know. I think it is important to truly document your thoughts and trades. It helps you learn. You can't lie to yourself about what you thought was happening.

I entered a long on USDJPY. I first saw the opportunity on a Hector trend chart, daily. We have a retraction to 30 and 50 trendlines. A breakout of the countertrendline, small retraction, and confirmation of new swing. I am late in entering but not that late. see 4hr chart.

Then I went to Sonic. PVSRA seems to indicate MMs are buying. However I am concerned my broker is accurately showing market volume. Not sure how to confirm this right now. If PVSRA is right going long is with MMs. Then looking for classic entry, I am late. 1,2,3 wave already occurred breaking to a long position. Basically I am trying to do a re-entry as I am late entering. If this works though there is plenty pips still to make.

2 problems, 1 THA from Sonic has been screaming that USDJPY is going to fall hard. 2 We are coming off a holiday and it is Asia session now. Really probably should wait for LO to determine what the MMs really want to do with price.

I really should probably just copy THA's trades. He is very profitable. But his method seems risky to me. It seems he takes trades without much proof. He is just using volume to determine MM direction. Maybe it is the right way. I'll try Sonic on my own for 1 week, then copy for 1 week. Hopefully I can learn.

I just agreed to purchase a house. I am downgrading. I can afford my current house but would like more free money. Tough decision. I love the house I am in. But this way my wife can work less. She is burnt out too.

Of course

We'll probably have vastly different approaches though. I'm a software engineer with 10+ years experience and working at one of the top tech companies in the world. My approach, thus far, has been 100% software based.

I don't mind software if it works! I find leaving pizza out for the trolls the live inside the computer make software work better.

Thus far, the ones I tried didn't work. Maybe the trolls in this computer don't like pepperoni.

USDJPY. Rose to 102.292 overnight. TP was at 102.5. It has since retraced a bit but is still at a small profit level. MMs still appear to be bulls.

Felix posted a reversal on EURUSD. I'm not taking it. He is looking for price to fall based on a candle last Friday. PVRSA shows MMs to be bulls.

Opened EURAUD based on trend and PVRSA. No time this morning to look at other charts.

Closed 50% of udjpy at 102.485. Moved sl on still open lot to b/e.

its a winning trade!

The second half went to B/e. Overall 50% +57 pips +$27.61. 50% - 0.5 pips, - $0.27
A winning trade! The first in a couple of weeks. Too bad it didn't run for more profit or that I would have closed all at PT. Also USD had a bad day. Anything with USD losing value was a good trade today. The EU, GU, ect were better winners than UJ. Oh Baby steps. This is better than a loss.

I like EURNZD for a trend trade. PVRSA seems a bit mixed but mostly long. It is breaking from a retrace, had a retest and is making a moving up now. EP 1.59660. sl 1.58953, tp 1.60580.

For reversals the GBPJPY interests me.

I also like GBPJPY on Sonic. Taking the trade based on Sonic. EP 153.415. SL 154.669. TP 152.523

I sold USDCHF right before I went to sleep from my phone. I saw a post in the Sonic forum about selling this with a chart. The PA that was pointed to looked weak to me. I figured I would try it with reduced lots. It went to SL over night - 36 pips, -$18. Actually this up action was leg 2. PA is now falling.

I'm such a rookie trader. I have to continuous look at my phone to see how my trades are doing during the day. Elation when the first bar shows price moved my way. If it didn't I yell at my phone to do what it is supposed to do. I guess where's off once trading becomes routine and wins are expected. For me right now. Anything green is exciting.

USDCHF from previous post barely hit my SL and then plummeted 180 pips. I just missed it.

EURNZD was a no go. -72 pips. -$94.28.

GBPJPY went great. My TP was right at the daily low. +89 pips. +$61.73

I also opened a new trade on EURJPY based on a post by sonicdeejay. Short. EP @ 131.057, SL @ 131.640. It is running +43 pips right now.

USDCAD for long trend - breakout occurred with no volume. real? All recent volume on shorts. nt

Reversal AUDUSD long - need to break 0.971. not recommended by Felix, no trade.
EURGBP short - need to break 0.853, recommended by Felix as well.
EURCAD short - recommended by Felix

Sonic EURJPY short - Need to break 130.386

EURJPY. It made a decent run down to 130.2. My tp was 130.1 At that point it reversed and hit sl. - 59 pips, - $29.13

EURUSD was a sonic I took alone. I set my tp at 1.035. Looking back I should have used closest RN. Well 1.300 was touched, and price reversed off of it. I have moved sl to B/E. and TP down to 1.29.

The two reverses didn't trigger.


update. I'm sick to my stomach. Eurusd went to revised sl then went up to original 1.35 profit target. ugh. Had I not changed anything this would have been a big win. Patience!

I just traded a NZD news event spur of the moment. News was good. Price started up. I jumped on at the first peak b4 retracing. Now negative. I will set sl at - $100. Maybe Tokyo will send it up when they get in.

For tomorrow.
Reversal
AUDUSD long. needs to cover .971 first
EURGBP short remains.
EURCAD, but at new targets.

Here we go again. Another down week. Not as down as last week though.

Trend
Total 1-2, -44.4pips, -$167.03
Week 1-1, -16.4pips, -$67.48
USDJPY +56.6 pips, +$27.61 (50%), -0.6 pips -$.29 (50%)
EURNZD -72.4 pips, -$94.80



Reverse
Total 1-4 -110.3pips, -$120.99
Week 0-0, 0 pips, $0
2 open


News
Total 0-3 -60.1pips, -$286.08
Week 0-1 -45.4pips, -$82.08
NZDUSD -45.4 pips, $-82.08

Scalp
Total 0-2, -8.9 pips
Not doing these anymore.

Sonic
Total 2-2 -2.1 pips, +$20.07
Week 2-2 -2.1 pips
USDCHF -36.6 pips, -$18.84
GBPJPY +89.4 pips, +$61.52
EURJPY -59.1 pips, -$29.59
EURUSD +4.2 pips, $6.98

The two reverses from last week closed.
EURCAD went to sl -120 pips, -$93
EURGBP finally went positive. I changed SL to BE. It then reversed at ended BE. -0 pips, -$0

I entered a sonic this morning
AUDUSD this went good. +93 pips, +$93.

Break even on the day.

Entering reverse trade based on Felix. I think I would have seen it myself too.
GBPCAD Ep 1.57268, SL 1.58524, TP 1.56900

Hi Bro, hope you can do well and achieve success in forex. Fully agree with the 3 points you mentioned above.

Sometime trading is like a lonely man game, unless someone close to you also having the same interest in it. I previously had couple of gfs who think trading is gamble. Disputes start building up on time and money spent on forex instead of her, and with this kind of negative support, sometimes it worsen our trading psychology. Luckily, I can ditched them and solve partial of the problems. My present wife sometimes also grumble about what I am doing on Forex, but when I show her my winning accounts, her mouth shut. But when she wanna buy this and that, I will show her my losing account.

I am in my 30s, quitted my job twice for around 2.5 years just to learn and monitor forex, but finally able to go out to work at ease making more capital for my forex. But sometimes I felt like I had drain out my energy just to win that little money out of forex to achieve my financial freedom and dreams. So do take care of your health when you had a long hours of work. Wishing you success and good luck.

Thank you for the words and advice.

Right now we are trying to move. Had my house sold, but it fell through because of cracked concrete. Now I need to spend $10k to replace it before going back on the market. There went my live account money! But at the rate I am learning in demo I will have time to rebuild my live account bank before I am ready to go live.

No trades today. I am wondering if I am reaching a new stage in forex learning.

First stage - giddiness. I am going to be rich in 5 years. Lose, Lose, try EA, lose, try more EAs, lose, buy an EA, lose, try it myself, lose.

2nd stage, man I suck lets find others so I can learn quick. Wow look how much they are making. I am going to be rich in 7 years. Wow look at all these great setups. Lose, Lose, Lose, Lose. It seemed like every time I looked at a chart I saw a great entry.

3rd stage, man I suck. Lets really study others, and slow down. hmm making money at this is going to take a while. Need to protect the account. Nothing on a chart looks good. Afraid to even push the "NEW ORDER" button. I think this is where I am at now. Hopefully this stage my development is progress. I wonder how many stages there will be for me. Who knows. I guess if I re-read this in a year I will know.


Well here's to me in a year! Go ME! Why couldn't I just invent some awesome new flavored peanut butter and sell it for $10m to the sharks.

ok forcing myself to find good entries.
Yesterday night I marked a long trend entry on EURAUD. Didn't mention it here or place an entry based on it, but it went today. +140 pips today.

AUDJPY looks good for a short trend. It also matches with a lot talk in the forum that JPY is about drop. Entry below 96.15. The problem is 96.000 is right there. But it doesn't appear that price respected that rn before. so lets go for it. ep 96.1 sl 97.1

I like a sonic AUDUSD but it may because of a news event. Going to pass for 30 minutes to see how news is reacted to.

USDCAD long. Sonic classic. l,h,hl,hh. dragon up, trend up, 1 leg through dragon. pvsra showing bull,

now that I forced myself out of a lock. Did I overreach? we will see tomorrow.

I was slapped around by TAH in the sonic forum. Guess someone as new as me shouldn't play in their sandbox.

The sonic didn't happen. Was waiting for hh to enter. Never occurred. cancelled setup.

Trend is going well. Closed AUDJPY for +84 pips, +$87.15

CADJPY looks good to short based on trend. entered a stop sell.
also took eurjpy based on sonic classic. market sell

Nice trade bro on audjpy