99.95% Technicals, 0.05% Luck

Greetings all!


Short introduction.

I'm a 23 year old regular guy, working full time in the banking industry, pursuing a part-time Bachelors in Marketing and am a freelance trader.
Been trading for over a year now, still in the process of learning, be my guest to criticise any entries I make as I am open to any criticisms; well that is part of learning as well!

The reason for me creating this trading journal is for me to keep track of my trades, to improve on my future entries as well as to learn from fellow traders here.
Most of my entries are based on, well as the subject title suggests, technical analysis..... and maybe a lil bit of luck.
I basically trade any pairs where I see opportunities.
I also do not prefer holding trades over the weekend, unless I see a very good reason to.

Bad habits:
I have the tendency to close my trades halfway towards the TP, but letting it run till it touch SL; need self-reminders that if it can touch SL, means it can touch TP.

So let's begin!




EDIT - 6 OCT 2015:

I've created an account for trade explorer just for this for full analysis.
I don't have to put opening and closing entries since it shows all as well.

EDIT - 9 OCT 2015:

Took out initial deposit as account made 100% turnover.
Let's make profits out of profits!


Overall pips:

Week 1: +261 pips
Week 2: +194 pips
Week 3: Account Migration
Week 4: +334 pips
Week 5: -73 pips - a definite learning point

EURGBP:


As it rally up pass the resistance level 1(0.73572), reaching the resistance level 2(0.73889), I'm looking for at least a 38.2% of retracement on Elliot wave pattern.



CLOSED: +45 PIPS

XAUUSD:

Bearish cypher seen, expected levels ~1132 - ~1119.



CLOSED: +79 PIPS

GBPNZD:

Broken trendline, followed by an Elliot wave pattern; expecting a retracement towards 38.2% level.


CLOSED: +98 PIPS

USDJPY:
`
H1: Upwards trendline with fibo extension of 100% seen in the bull movement. Potential bullish cypher pattern to be formed after expected retracement to 76.4%(~119.695).
TP: ~119.770
SL: ~121.520 (-45 pips)


CLOSED: +45 PIPS; not wanting to hold over weekend.

GBPUSD:

H4: Elliot waves formation towards the support level (~1.51790), expected to retrace gradually towards 38.2% level (~1.53810).
TP: ~1.51840
SL: ~1.51395 (-45 pips)


CLOSED: +17 PIPS; not wanting to hold over the weekend.

GBPNZD:

H1: Aggressive bear towards support level (~2.39300), sighting potential triple bottom; to be bullish and might break resistance level (~2.46000) unless moving towards breaking support.
TP: ~2.41200
SL: ~2.38920 (-60 pips)


Touched SL; CLOSED: -60 PIPS

Broke support level (~2.39300)

GBPUSD:

H1: I'll make this an exception for 1 main reason; showing strong support level (~1.51800), possible end of bearish Elliot waves movement towards support level, expecting retracement of at least to 38.2% level (~1.53280).
TP: 1.52550
SL: 1.51300 (-30 pips)


CLOSED: +37 PIPS


Total pips for the week: +261

GBPNZD:

H4: Bearish Elliott waves to support level 2(~2.37555), reversal trend candle spotted, expect to retrace to 38.2% level (~2.40000).
TP: 2.39650
SL: 2.37250 (-50 pips)


CLOSED: +164 PIPS

EURGBP:

H1: Triangle formation with falling resistance levels, expecting bearish to form pennant before a bearish breakout.
Entry: 0.73830
TP: 0.73430
SL: 0.74180 (-35 pips)

2nd Entry: 0.74030
TP: 0.73630
SL: 0.74230 (-20 pips)

Touched SL; CLOSED: -55 PIPS

Gradual bull towards resistance level 2 (~0.74240).

99% of traders use technical analysis - 99% of traders fail. Hmmm... I wonder if there's a connection.....

Interesting Thread! Subscribed. I am 23 years old ass well and still learning...
It looks like a bullish breakout now. Probably it will hit the ADR today and PPA, before it goes south.

Hi there gravitist,

There may be a connection, well after all, to some, technicals are just some lines.

Well, for one reason, I believe technicals can work well in such high volatility market moving around the clock due to the availability of plethora of data to work with.

Thank you for your input.

ADR has been reached today and price is at a resistance level now. Should look for short entries tomorrow...

Hi there Pipsalon,

Thank you!
That's nice to know! We'll learn together. :nerd:
Yup good point there, currently bullish reaching ADR key resistance before expected down.

EURGBP:

H1: Bullish towards ADR, key resistance level 2 (~0.74240), trendlines forming gradual increase in support and resistance levels. Expecting bearish breakout.
Entry: 0.74260
TP: 0.73560
SL: 0.74560 (-30 pips)

Just saw your thread, we actually started on the same day. All the best to you and your system!

Hey there Aeternum,

Fellow Singaporean!
Thank you and will definitely drop by your thread as well to see your entries and progress.

I didn't see you are a Singaporean. Glad to meet you!

USDCAD:

H1: Bullish trendline reaching key resistance level (~1.34155), shooting star candlestick in H4; expecting bearish reversal to break trendline.
Entry: 1.34090
TP: 1.33290
SL: 1.34490 (-40 pips)


Touched SL; CLOSED: -40 PIPS

Bullish breakout above resistance level (~1.34155).