Reporting my experiences as a trader...

Hi everyone, I am new to forex, started january/2016, and I am here to stay (at least is what I want believe).

With this journal I hope put some pressure on my shoulders to show some good results to you, as punishment of bad results I will have you seeing me as a rookie trader and I don't want that. I want improve and is what I will do.

As you can see on my explorer I can have good green pips but then comes a GREAT loss that spoil all my good work.

I trade solely with PA, trend lines and S/R zones. I don't like indicators, I can't see the behavior of the market with them (but I'm willing to try, I have an open mind)


My first objective is improve my exits when I'm losing, often when i'm losing instead of exit I stay in hoping and hoping and hoping that the price will go up/down again to profit (hope don't pay bills in life).

I will put some lessons here from my experiences (so I can't forget too):
#1 - When the market are ranging or reversing wait for a second or third signal to go.
#2 - Hope don't pay bills when you are losing money.
#3 - Creation of a trading journal, you will not make the same mistake twice when you have a book to register your silliness.

Have a good day!
Manel

My advice, if allow.
You need to review its risk management. You must clearly identify the potential profit and loss. Set the stop loss and take profit. Trade only when the ratio 1: 3, loss: profit.

Today was a good day to learn a lesson:

#1 - When the market are ranging or reversing wait for a second or third signal to go.

Examples:

Today was what I did, but only with the take profit [FACEPALM], that's why today I get better results with green pips

Many green pips to you Manel! Good trade(:

Thanks, the same to you man!

a word of advice when it trends always wait for the pullback then sell you know sell higher buy lower senario

Thanks for the advice, I'm using that now for entries and to prevent exit too early because sometimes we can be betrayed by a pullback

Today was a good day, with some losses that i need to avoid but in the end its ok.

Today too, I finally understood the value of a journal. I could, today, avoid some mistakes that I have made since I begin because now I have a place where my bad trades, my red pips, my shame will be registered (and it hurts to see later)

Lesson of the day: create a trading journal, now!


I have too to improve my control when I have a open position because sometimes I can earn much more (I think this happens with all traders) and instead hold what I have I close with fear of losing.

I know only a few people read what I put here, I'm not the most active guy on trading journals at all, but I have improved a lot and today I hope help you with one thing that I found.

I read a thread from Dancingphil where he asked: "What is the MOST important level on your chart today?"

http://www.forexfactory.com/showthread.php?t=559143


It can't be important to know, it can be useless for trading but I was intrigued........" what is the most important level?"

I think the right answer is on the second post: Daily open, despite the fact he didn't get attention.

Watch some charts below.....

What do you think?
Have you ever tried?