Matt's journal

Good day everyone. My name is Matt. I want to introduce you to my journey to becoming a better trader.

This journal is actually the continuation of another journal from a paid site that I started back in September. I decided to move my journal here in the hope to get feed backs from some of you guys.
First, I need to explain my strategy in order to understand where I come from with this. It is based on price manipulation. Basically, support and resistance is the key. I will talk about S&R as levels. The levels are set hours ahead even days ahead. When the price reaches a certain level, a predetermined candle pattern has to form in order to place an order. Now, for the ease of trading, I had an EA built to achieve the trading. For me trading with an EA means less time in front of the screen and it takes the emotions out of the equation. On top of that, money management is built in and facilitate the lot sizing and so on.

Anyway, I am not going to give you a course on my strategy, simply to let you know how I trade. I use horizontal lines to define the levels. I will attach pictures of my trades and hopefully you will like what you see.

So here is my trading plan:

- 3:1 R/R
- 15 pips S/L
- Trading only the 5 following: EU,GU,AU,UC,UJ (although I am going to discard USDCAD for non performance)
- I trade UJ and AU from 21h00 EST to noon the following day (from Oz open to London close)
- I trade EU,GU and UC from 02h00 EST to noon. (from Frankfurt open to London close)
- I will let the positions fullfill without closing early. No exceptions. (although I move my stop to break even after 1R and/or 2R depending on conditions: news coming up etc))

My win% right now is just under 30. By getting rid of UC, I should bring this above 30 in a week or two. 30 is the very least of my goal. I am sitting at 60% win ratio on GBPUSD at the moment combined with a R/R of 3:1, you can do the math and you will see the $$$ signs everywhere!

Anyway, hope you like my journey and feel free to leave comments.

Like any other posts in here, please be nice, no insults since it will not help anybody. Constructive criticism is always welcome.

Matt

Good luck !

Good evening folks!
Well here it is, my first update to my trading journal on FF. I thought I'd share some pics so you understand a bit what I look for in a set up. The charts below show the areas where I will be looking to take a trade from. At those particular lines, a candle pattern is searched from the EA and if it occurs, magic happens. The green lines for buy and vise versa.
When I look for a level, I use 1H, 4H and sometimes Daily. However, the EA operates on M15.

So the week as started for UJ and AU. We'll see what comes my way this week.
To all, happy trading!

Matt

hi Matt,



cheers

How do you draw the Support & Resistance lines on your charts? They seem to be spot on so far!

Hi celestin2003, thanks for asking. I use the H4 mainly to identify the levels, than I will zoom in all the way to 15M and sometimes to the 5M to mark the level. I don't get too fancy about it.
For instance, today on GU, I had a pending sell happening but didn't get filled. So that level remains valid. I am hoping for a second test of that level during Euro session. We'll see.

Matt

Yes Matt!!

Nice return for the month mate! The strategy is obviously working!!

MATT

Indeed Matt, indeed. Just have to wait for the price to come to me and not the opposite. Chasing trades is a bad idea. Patience and discipline is the key. Keep coming back here for updates since I will no longer post my trades on the other site but I'll be visiting on a daily basis for sure though.
Keep it up mate!

Matt

nice entry short bro
M5 GBPUSD.......


Cheers

I see you got tagged for full profit on that one! Nice!
However, no Stop Loss??

Matt

Good evening traders, it has been a few days without trades for me but today I got 2 trades in. The first one was a take profit and the second one a stop loss.
I will only show you the winner. It is a 1:3 risk/reward and it makes up for the loser.
This month has been a very profitable one! Don't think every month will be the same. I enjoy fame right now!!!
Just look at my Trade Explorer. It speaks a hundred words!

Matt

Hi Matt

How do you determine your lot size?

Hi matt,If i monitoring my screen no need to put SL but the white line is the maximum risk Cheers

Hi barloc, lot size is determined by % of account for risk. Than the EA calculates the Take Profit with the Risk to Reward function. Pretty handy!

Matt

I understand. Thanks for charring.

Matt

This is a trade I took this morning on US2000. Close to target. It is not on my trade explorer though.

Matt

Sunday Nov 1st

Good evening traders, Sunday night here NY time, a new week has started but most important, a new month. November is what's up ahead! Very pleased by my results for the past few weeks.
Now I made some small adjustments to my trading plan. Last week I stopped trading USDCAD for non performance. I am going to give USDCHF a try. The spread I get on that pair is a little high but I adjusted consequently. Still trading the 15 pip S/L and 1:3 risk/reward. We shall see!

Matt

I got filled in on GBPUSD earlier this morning and I am about to get stopped out.

Matt

And there it is, just got tagged for a loss. It's ok, plenty of trading left for the week to be in profit.
Until next set up, happy trading!

Matt

P.S. Don't know why it is not showing in my trade explorer. It shows on my Live account though.

Well a trader is a trader after all. I am testing other instruments on a separate account for and I get some activities over there. I thought I'd share some ideas.
Waiting for confirmation on the following 2 + 1 open buy on Gold: