My Trading Journal: Trading LIVE starting on the Red Oct. 2014 | Forex Factory

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My Trading Journal: Trading LIVE starting on the Red Oct. 2014

  • #1
  • First Post: Oct 24, 2014 6:26pm Oct 24, 2014 6:26pm
After 2 months of intensive forex learning and demo trading, I am going to trade in live account starting on Oct.24th 2014! I am so excited and I am sure there will be many times of tears and joys on my journey in becoming a good trader. I am going to specialized in EUR/USD, USD/JPY and GOLD. I will be sharing my trade setup each day and please give me your feedback, comments or suggestions. I would love to have good friends and mentors along the high way to Forex success.
  • #2
  • Oct 24, 2014 6:38pm Oct 24, 2014 6:38pm
Bravo. I suggest learn to make $100 into $200. Then continue until you can learn to make $1000 into $2000. Then leverage on credit but only use $1000. If you lose $1000. You lose the right to trade until you can bring back to $1000.
Forex Price Action Hacked - Price Action Rockstar
  • #3
  • Oct 24, 2014 6:43pm Oct 24, 2014 6:43pm
Quoting david_akc
Bravo. I suggest learn to make $100 into $200. Then continue until you can learn to make $1000 into $2000. Then leverage on credit but only use $1000. If you lose $1000. You lose the right to trade until you can bring back to $1000.
Thank you, David
  • #4
  • Oct 25, 2014 9:00am Oct 25, 2014 9:00am
Quoting Holly.usgfx
After 2 months of intensive forex learning and demo trading, I am going to trade in live account starting on Oct.24th 2014! I am so excited and I am sure there will be many times of tears and joys on my journey in becoming a good trader. I am going to specialized in EUR/USD, USD/JPY and GOLD. I will be sharing my trade setup each day and please give me your feedback, comments or suggestions. I would love to have good friends and mentors along the high way to Forex success.
Good luck Holly,you will have highs and lows....a bit like the market
  • #5
  • Oct 25, 2014 9:32am Oct 25, 2014 9:32am
Quoting Holly.usgfx
{quote} Thank you, David
I do not know how good you are but if that is real money. And out of 10 trades non of them can cover all 10. Than I suggest you re evaluate your system. I know of many trend followers you are only 20% accurate but their 80% losses get cover by those 20% and profit and more. If you feel anxiety and anxious to open a position and super double doubt trade when it goes against you. Then you do not know your system very well. Worst you know when to get out but get out because you want to get fake. Then I suggest you go small. I could be wrong your abilities but I know this is what I've gone through and make. Just sharing.
Forex Price Action Hacked - Price Action Rockstar
  • #6
  • Oct 25, 2014 10:21am Oct 25, 2014 10:21am
Quoting Tedge UK
{quote} Good luck Holly,you will have highs and lows....a bit like the market
Thank you, Tedge UK
  • #7
  • Oct 25, 2014 10:29am Oct 25, 2014 10:29am
hi holy, goodluck and full prepare yourself.

if you need advise from a loser drunken trader, how a trader become loser than I am here. I am full of dumb and crazy experience, cause my forextrading is for my spiritual exercise.

lets start the journey.
we don't predict, we only ride
  • #8
  • Oct 25, 2014 10:53am Oct 25, 2014 10:53am
Quoting cakrajaya
hi holy, goodluck and full prepare yourself. if you need advise from a loser drunken trader, how a trader become loser than I am here. I am full of dumb and crazy experience, cause my forextrading is for my spiritual exercise. lets start the journey.
Thanks for your inspirational speech and openness. I feel my journey will be much more colorful when you are around. Thanks, cakrajaya. Actually, I have blew up 5 demo accounts before starting to get a hang of what leverage means in forex trading. =p
  • #9
  • Oct 27, 2014 10:51am Oct 27, 2014 10:51am
Trend Reversal forming?
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY_D1_rgCXh0s5jD.png Size: 34 KB
  • #10
  • Oct 27, 2014 11:07am Oct 27, 2014 11:07am
Holly, I would suggest you to begin with a $500 account balance first and see how it works.
daddybearforex. com
  • #11
  • Oct 27, 2014 9:09pm Oct 27, 2014 9:09pm
Quoting DaddyBear
Holly, I would suggest you to begin with a $500 account balance first and see how it works.
Thank you, DaddyBear, but as you can see, I am trading like I only have 500 USD in the account. I never have total positions larger than 0.1 standard lot size.
  • #12
  • Oct 27, 2014 9:30pm Oct 27, 2014 9:30pm
Quoting Holly.usgfx
{quote} Thank you, DaddyBear, but as you can see, I am trading like I only have 500 USD in the account. I never have total positions larger than 0.1 standard lot size.
If so, why not just keep $500 in the account?
daddybearforex. com
  • #13
  • Edited 10:52am Oct 28, 2014 9:21am | Edited 10:52am
Quoting Holly.usgfx
After 2 months of intensive forex learning and demo trading, I am going to trade in live account starting on Oct.24th 2014! I am so excited and I am sure there will be many times of tears and joys on my journey in becoming a good trader. I am going to specialized in EUR/USD, USD/JPY and GOLD. I will be sharing my trade setup each day and please give me your feedback, comments or suggestions. I would love to have good friends and mentors along the high way to Forex success.
2 months of intensive forex learning and demo trading will not take you to anywhere you had anticipated.

To trade FX,
Follow DBX Principles - The rules of engagement I.

  1. Follow Daily GDI for direction guidance. Long at the dip and short at the peak.
  2. When H4 UDB and H4 LDB are converging, the instrument is consolidating. No trade should be entered.
  3. When H4 UDB and H4 LDB are diverging, not converging or parallel to each other, enter the trade in the direction of both H4 UDB and H4 LDB.
  4. If aggressive, use H1 DBX in lieu of H4 DBX.

and DBX Principles - The rules of engagement II.

  1. When Daily GDI is going down, don't long.
  2. When Daily GDI is going up, don't short.

daddybearforex. com
  • #14
  • Oct 29, 2014 11:39pm Oct 29, 2014 11:39pm
Quoting DaddyBear
{quote} 2 months of intensive forex learning and demo trading will not take you to anywhere you had anticipated. To trade FX, Follow DBX Principles - The rules of engagement I. Follow Daily GDI for direction guidance. Long at the dip and short at the peak. When H4 UDB and H4 LDB are converging, the instrument is consolidating. No trade should be entered. When H4 UDB and H4 LDB are diverging, not converging or parallel to each other, enter the trade in the direction of both H4 UDB and H4 LDB. If aggressive, use H1 DBX in lieu of H4 DBX. and DBX Principles...
Thank you, DaddyBear. This is really helpful.
  • #15
  • Oct 29, 2014 11:44pm Oct 29, 2014 11:44pm
Quoting Holly.usgfx
{quote} Thank you, DaddyBear. This is really helpful.
Did you lose 33% this week?
Keep only a few hundred dollars in your account.
In case that account is wiped out, you still have $9,000+ left.
daddybearforex. com
  • #16
  • Oct 29, 2014 11:47pm Oct 29, 2014 11:47pm
I started Trade Explorer yesterday and have made 954 pips so far. I use DBX Trading System for FX trading. If I can make it, so can you.

A two-week free trial of DBX is available to new users. Email your request along with a MT4 demo account number to [email protected]. License leasing fee is only $0.20 per day!

You are not going to be a millionaire by trading FX with DBX but decent pips can be made every week.
daddybearforex. com
  • #17
  • Oct 30, 2014 12:45am Oct 30, 2014 12:45am
My Daily Setup

Gold
[email protected]
T/P: 1210.83
S/L: 1223.83

USD/JPY
[email protected]
T/P: 109.820
S/L: 107.560

Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-m30-union-standard-international[2].png Size: 39 KB
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd-m30-union-standard-international[2].png Size: 38 KB

The Correlation of Gold and USD/JPY : inverse relationship
http://www.fxstreet.com/analysis/currency-brief/2012/07/01/

"In financial markets, the best example of an inverse correlation is probably the one between the U.S. dollar and gold."
http://www.investopedia.com/terms/i/inverse-correlation.asp
  • #18
  • Oct 30, 2014 1:01am Oct 30, 2014 1:01am
Trade slowly and safely, $500 account why not just trade 0.01 for starters? Its the pips that counts afterall.

Anyway most importantly is not to be greedy and try to grab the very last pip.... you can do it !
  • #19
  • Oct 30, 2014 2:40pm Oct 30, 2014 2:40pm
Quoting BlkR
Trade slowly and safely, $500 account why not just trade 0.01 for starters? Its the pips that counts afterall. Anyway most importantly is not to be greedy and try to grab the very last pip.... you can do it !
Thank you, BlkR!
  • #20
  • Oct 30, 2014 2:41pm Oct 30, 2014 2:41pm
Since the FED is ending QE, and with the anticipation of raising interest rate. Will GBPUSD get hammered big time? What force could stop the USD bullish advancement?

My Wild Trading Numerology: Bullish on GBP/USD
6 Year Timeframe: Jan.2009~Nov. 2014
67% of the time, prices are within Fib.23%~50%.
33% is out of the range of Fib.23%~50%; and in those times, 70% of the price is above Fib. 23.6%.
and in the past two years, price has been bounded within the inner green channel of the pitchfork.
So, I am taking a wild guess that this trend will keep going on, despite recent FED announcing to stop QE and hinting to raise interest rate.

http://4.bp.blogspot.com/-InX_NpZZ8x...radingview.png




1. another interesting point of view that I've come across to"History shows us that seasonal trends do turn more adverse for the GBP through early November - GBPUSD has weakened 70% of the time in the month of November in the last 20 years." Did You Know November is an Unlucky Month for Sterling?


2. and then, this is where it completely throw me off, GBPEUR levels expected to climb through November:"This demandreally cam following the US news last night that they will finish their QE3program at the end of the month. This in turn increases the likelihood ofthe world’s largest economy to start raising interest rates. Traders riskappetite has increased as a result pushing up the demand for the UK pound andtherefore making it climb against a basket of currencies, happy days!" I am like WHAT? I thought USD will go up when the FED raises the interest rate. with the anticipation of higher interest rate, why is GPB raising instead? Is this article only talks about the specific relationship between EUR and GPB? U.S. FED interest rates hike will aid GPB rise against EUR?

to digest 1st point and 2nd point, a little more. Shorting EUR/USD? haha

Source:
1.http://garyhowes.tumblr.com/post/101...h-for-sterling
2.http://www.poundsterlingforecast.com...ber/#more-7302
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