One day

Not sure how to start this thread as it's supposed to be a place for me to put my trades up for me to examine and not just an "Oh, I've learned from this trade" mental comment that soon is forgotten and repeated again for the same result, a loss.
But I guess that a Hi, at least, is in order so welcome to my trading journal


Hi

I've been trying my best the past couple of years to trade Forex successfully but to no avail. I've been reading posts, threads, PDF files. books, attended courses and still, I come out empty handed when it comes to be a successful trader.
I haven't given up hope. though. so here's where I'm going to post my trades and my thoughts and hopefully, I'll be able to learn and better myself, maybe even see a little profit

I love watching my charts. I love it. If I could, I would have set in front of my screen reading and watching charts all day, alas, my boss has a different perspective of what I should do with my time and that leaves me little time to trade during the day.
I've been trying every time frame from M5 and up to D1, still haven't figured out which I like better but with my time schedule, H4 and up are most likely suitable for me than the other TFs.
But Renko, Renko is my favourite of them all and lately I've been toying around with Basket trades and I love it.

So, enough with the introduction and on to the pictures

[EDIT]
Thought I'd describe how I'm trading, in general, too.
I usually open two trades, the first with TP of 1xATR(14), the second one with TP of 1.5xATR(14), SL is the same for both at 2xATR(14).
If TP1 is hit, I usually move the SL of the second trade to BE plus a few pups, remove the TP and let it run using a TS, unless I'm not at home, which is usually the case, and then I just get the two TPs, if I'm lucky or two SLs.

I'm using HAS with 2,9,2,12, the teeth of the Alligator, ZZ semafore and the Sonic trade levels, oh, and support and resistance, too.
All from this forum or native to MT4.

[EDIT 2]
I'm also using the NonLagDot indicator just for the visualization of it.
The Basket EA is Abokwaik's EA, which I hope he will continue to develop as I haven't seen a Basket EA that allows for more then one Basket to be opened. You can get it here.
The trend and breakout, which forms a kind of a fork I got from Wab's thread here, he hasn't written anything new in quite a while and I sure hope he is well and happy and hope he continues sharing his knowledge, I'm still struggling with it but sometimes I can almost "see" what he had refereed to in his thread.

EURGBP, Renko.
This is giving me hell. I've marked the retracement and the break, it might go up or down. I figured it might go down a bit more so I set up a pending order, spread fired it up and here we are, waiting.
I don't have high hopes for this trades but I'm letting it run.
SL is so high because my broker changes the spread to 200 points at 00:00 and I already had quite a few trades ending up at a loss because of it before I realized what's going on.

GBPCAD, Renko.
Nothing special, another minor/micro trend. marked the trend and the breakout.
First trade hit TP, the second one is still on the run.

Congrats & subscribed.toppo

NZDJPY, Renko.
Marked the trend, I think it's still a micro trend, marked the break, placed pending orders, I was in front of the screen so I also added another trade when the price retraced a bit based on a hunch. Stupid, yes, I know.
So far, two "fast" trades had hit their TP1, two "Slow" trades are trailed using 360 points.
Not so bad. Usually I screw these setups.

Thank you very much, my friend.
I hope this will be another instrument in my arsenal as I learn and better myself.

Baskets! Baskets! YeY!
Just so you know, baskets had bitten me quite hard but I never gave up on them
So, first basket (thanks, toppo )

#C5#M30
I was too sleepy and too eager, occidentally took a trade at point 1, set a tight TP, got around 20$ out of it, I consider it lucky as I wasn't supposed to trade there but trade the break out, which I did, at point 2. The basket got closed at point 3 because of a mistake I made, I moved the SL line using my cellular phone and it's was hard and jumpy and touched the price line and closed the entire basket for 47$. I've launched another basket at point 3 because I thought it hasn't maximized it's potential, it's still open, at the time of the screenshot it was at 169$, it's now at 111$. I've set the SL at BE plus a few dollars.

Another basket.
#JPY7#M30

Was too late to open a basket but still managed nicely, I was at work and used my cellular phone so I had to do everything in a haste so I placed the SL at BE plus a few dollars as fast as I could, of course the price came back to it still got a nice trade out of it.

The basket

And the close

Well done on your basket trades. Though I am not for crowding up charts with indicators, I use genesismatrix 2.22 with default setting. Might help your decisions. toppo

OK, here are the setups I'm considering as potential for trading, if time permits due to work and all.

CADJPY, Renko, micro trend, not going to do anything before it breaks the horizontal line.

GBPAUD, Renko, not sure about this one, I'll watch so I can learn but I don't think I'll trade this setup

USDCHF, Renko, will have to break the horizontal line nicely before I'd feel safe to trade it and it would probably reverse on me like always.

#JPY7#M30, Basket, a continuation of previous down trend, placed a pending sell line, will probably move it down a bit more as my broker just upped the spread on most of the pairs I'm trading to 200 points.



That's it for today.

I'm still not comfortable just using my eyes so it helps to ease my mind when I see lines on my charts.
I won't to be able to "feel" the charts and trade naked charts or with minimal indicators, for the time being the "colours" are helping


Thanks.

What's the renko block size you trade with, if I may ask? Trying to replicate your chart... toppo

Thanks for the indicator, I'll add it to my template.

I'm using 10 pips Renko for my charts, at least for the time being.

Updates (I think I'll keep them in one post, we'll see about it)

GBPCAD, Renko.
First TP hit, forgot to move the SL of the second trade to BE, got stopped out.

CADJPY, Renko.
Entered a bit late, both TPs hit before I was fully awake to handle the second trade.

NZDJPY, Renko.
The second trades TPs got hit during the night, the down move continued without me, still nice profit. The trade in the screen shot is from the basket trades.

#JPY7#M30
The pending line got hit during the night, this is how it looked this morning when I woke up.

#C5#M30
This is how it looked like when I woke up this morning.


As for the watched charts
GBPAUD, Renko.
I was asleep but woke up to this, didn't take any trade but it feels nice to see this all the same.

USDCHF, Renko.
Not much had happened, no point in uploading a screenshot, I think.

The next two posts will be about crappy trades, or semi crappy. One of them might result in some profit but I'm not happy with how I had handled it.

USDJPY, Renko.
This is how it looked like when I was watching it.

I was sleepy and didn't pay much attention to the lower trend line and opened a trade (the upper trade is from a basket trade), I should have waited for it to break the trend line but I was thinking it had already broke through the fork so why not.
Not good, I should have analysed it some more and have more patient but this is something I'm lacking.
Not the patience but I've been losing so much and for so long that I find it so so hard not to jump on each opportunity. I have to work on it. and hard. And fast. Because I'm losing like this.
More on that on next post.
This is how it looked a bit later, it's still at a small loss/BE and will continue to linger there until it will retrace upwards again. I'm giving it time but I'll close it soon at either a small loss, BE or SL which I will move downwards significantly.

On with The Shame Parade.

EURGBP, Renko.
Took this trade as it broke through the fork but it was too early. I usually place my pending orders lower than that but I thought I'll have time to move them.
I didn't.
And now I'm stuck with these two trades that will go into full SL. I don't know why I hadn't closed them. I thought they might go into BE, I thought my analysis would come through.
Not sure why, but this is exactly the trades I'm losing with as my TP, unless I get a runner and am able to replace TP2 with TS, are lower compared to my SL.
Stupid. Simply stupid. And I wish I had learned that already but it still eludes me and I hang on to these losers even though I know they will not work.
Need to work on it more *SIGH*

Results for yesterday at around 00:something.

Results from this morning, before I got that stupid 250$ SL on EURGBP, baskets, though, are very nice at 1200$ both (were a bit lower when I took the screenshot)

USDJPY, Renko
Well, what do you know, first TP got hit, moved SL2 to BE plus a few pips, removed TP2 and trailing the trade using 360 points (still didn't kick in).

Updates on today's trades

#C5#M30, Basket.
Looks like it's exhausting itself, will let it run until it reaches SL.

#JPY7#M30, Basket.
Looks like it's exhausting itself, will let it run until it reaches SL.
Might be a retracement only or the start of a new trend, we'll wait and see.

USDJPY, Renko.
TS got hit and I was out with 4 pips on the second trade, still looks like it got some more downwards juice in it, though.

Results for today, ugly EURGBP trade ate all the profits.

Pairs I'm watching for tomorrow's trading day, if I get time to trade, that is.