Expo33's Harmonic Trading Journal

Hello comrades and welcome to my personal journal.

My dream is to be a successful professional forex trader. My dream WILL come true ONE PIP at a time. My story isn't unique or relevant. I am an expert at nothing but a student of everything. Work ethic has never been an issue for me. The problem has always been discipline. That problem is ending with the start of this journal. No more using my 'smart' phone to make 'dumb' trades.

I heard a quote recently that inspired me: "When you want to succeed as bad as you want to breathe, then you'll be successful!"

It's not about money, power, or status. It's about the joy of doing something you love and the freedom that it gives you.

I prefer trading harmonic patterns coupled with confluence. Tools used include FIBS, SMA's (50,100,200), 34EMA, RSI, PIVOTS, S/R, and TL's. I like my charts simple and clean.

In addition to my technical analysis, I am always seeking to improve my fundamental understanding as it pertains to my potential trades. I have a lot of work to do in this area.


TRADING RULES:

1) NO trade will be initiated without first posting it here with an accompanying chart
2) Maximum risk per trade will be 2% (1% when account grows to the next level)
3) Minimum RR will be 1:1
4) All completed trades require comments and/or possible explanations as to what went right or wrong
5) Trades can be ended manually but require an explanation for extenuating circumstances

THREAD RULES:

1) BE NICE
2) Refer to Rule #1

***Constructive criticism and general comments welcomed***

MOTTO: It isn't about $$$, it's about PIPS

DISCLAIMER: I am writing this journal for the sole purpose of holding myself accountable. Posted trades are not recommendations.

THANKS FOR STOPPING BY. TRADE SAFE AND MAY THE PIPS BE WITH YOU!!!

Trade #1

Pending GBP/JPY short at 175.34

SL = 175.81 (15 pips above DR2)
TP = 174.38 (10 pips above WP)

Pip risk = 47
pip reward = 96

Position size = .1 lots = 1% account size

Last AB = CD on the daily was exactly 300 pips with a RT to .50FIB

Why not try and slay the dragon to get things rolling.

Trade #2

Limit AUD/USD long at .9363

SL = .9348 (confluence support 4H 200SMA and DS1)
TP = .9393 (approx. 5 pips below 4H 100SMA and WP)

Pip risk = 15
Pip reward = 30

Position size = .285 lots = 1% account size
.
Bullish Anti Gartley 4H candle confirmation.

TRADE COMPLETE: Stopped out by a couple of pips. Early Sunday session low liquidity risk. Quick spike down got me. Price action reversal immediately following stop out. Desire to re-enter but stayed out and accepted trade failure.

Trade #3

Limit CAD/CHF short at .8390

SL = .8407
TP = .8356

Pip risk = 17
Pip reward = 34

Position size = .225 lots = 1% account size

Trade #4

Limit USD/CAD long at 1.0650

SL = 1.0603 (11 pips below WS1)
TP = 1.0745 (14 pips below MP)

Pip risk = 47
Pip reward = 95

Position size = .1 lots = 1% account size

Trade #5

Limit AUD/JPY long at 95.54

SL = 95.23
TP = 96.13

Position size = .15 lots = 1% account size

4H 200SMA support, Daily 34EMA support

Short NZD/JPY at 89.63

First week of my journal and the best week trading to date.

Broke a few of my rules but overall made some very productive changes

Things to work on for next week.

1) maintain diligence for this journal
2) patience - continue striving for better entries
3) let your winners runs - use TS's
4) Don't forget to look at shorter TFs
5) Hold a few small positions for long term trades
6) A scalp a day is a good thing
7) Two short term positions should have minimal correlation
8) Do your fundamental work

One more interesting harmonic trader.Waiting to see more trades that i could join you .Subsribed .

Thanks Bogi, I hope we can benefit from each other's views.

I draw all my harmonics free hand with no zup or anything like that just because I feel it is the best way for me to learn, and I have A LOT to learn!!

The fundamental flavor of the week for me is going to be US dollar strength (scary stuff), and general Yen weakness. This view is predicated on some positive US data early in the week ( hopefully), coupled with 10Y bond yields potentially firming up a bit this week. In addition, I imagine BOJ will say the same thing, continued QE etc etc

Looking to initiate four trades:

Long UJ
Long EJ
Long AJ
Short NU

None of which have much in the way of harmonics, more to do with confluence support. Hopefully will get my charts up later tonight

I hope that too.I use ZUP just to spot the, easier but sometimes i dont trade them.Its a bit hard to find them on your chart only with fibbo.I still gave to learn a lot of stuff too.

Eventually I want to use ZUP but unfortunately when I try to add any indicator I get a message saying "administrator doesn't have permission to save to this location" grrrrrrrr, read many forums on this and can't get it figured out. Brand new desktop too, windows 8 is pissing me off.

After making a whopping 15.3% last week, I enter this week feeling a bit cautious.

First trade is Short NU 24500 units, TP .8772

Risk 20 pips to win 40

Second trade long UJ 28500 units, TP 101.72

Simply put I am trading this long because price is resting just about on, what I consider, an impressive support area.

Risk 20 pips to win 40

Third trade long EJ 16500 units, TP 138.43

Trade is based on simple divergence, fundamental yen weakness, and weekly support
from 50 SMA and 34EMA

Risk 30 pips to win 60

Fourth trade for the week is long AJ 20000 units TP 95.61

Strictly a carry trade and fundamentally I can't think of one good reason to be buying the Yen over the Aussie

Risk 25 pips to win 50

Probably a contrarian plan to some extent but sometimes you have to trust in your plan, then execute and manage.

Will be looking at shorter time frames Sunday to see if any better entries develop once liquidity picks up. All four trades will be entered into with two positions to give me some flexibility if trades are going in my favor.

Good luck to any and all who happen to pop into this journal, green pips to ya!!

I use windows 7.Neither i like windows 8.Have you tryed to open first MT4 us an administratonr and then to add the indicators?

.My first target is at .8780