JMRTradingFx Journal

Hello,

First of all, this journal is my personal journal. I will post my trades here to keep it simple for myself, to keep myself focussed, and for most part to learn from my mistakes and hopefully that will keep you from making the same ones i made. Im trading a real micro account on XM.com. Deposited 45 usd + bonus = 68 usd equity to start with. I will risk approximately 1% per trade.

System used:
The system i use is found here (created by Foolsgame): http://www.forexfactory.com/showthread.php?t=592890 (please take a look if you want!)
I have had permission from him/her to do this. Im not using the exact same rules, since i'm also using a 20 and 50 ema on the daily chart, some MTF moving averages, and indicators that i like to have on my screen too (like a position size calculator, and a daily candle on my M15 chart).

I will trade the M15, H4 and Daily charts, by applying some multiple timeframe analysis.

I also created a Trade Explorer, which you can find here:

https://www.myfxbook.com/portfolio/jmrtradingfx/1656886
and
http://www.forexfactory.com/thejube#acct.05

Hope it will help you as much as it would help me (hopefully!)

Greetings,

TheJube.

1st Trade (excited!) opened. Sold Aud/Usd @0.7332, Risk 39 pips/ 1% of my account balance. Will edit this post when closed.

Did not have time to post. I have time now. I closed the AUD/USD sell in a loss, and did 3 other trades after that, 2 profit, 1 break-even. I will post them all now, with maybe some analysis with it.

I expected price to reverse downwards after it came extremely close to the 544 ema on the H4 chart. Also saw divergence on the M15 TDI. But didn't work out as expected, which is normal when trading IMO. Onto the next ones.

Reasons i took this trade:

First rule was that the price was above the 2 blue MTF ma's on the H4 chart, while the thin MTF MA was below the thicker one (im talking about the stepped MA's which look like a staircase, these are the 20 and 50 ema of the daily chart placed on the H4 chart).

-Daily: I saw a nice rejection of a previous resistance level.
-H4: Here you can see it better. It bounced off of the 0.79000 Round Number level with nice large wicks. Round numbers + large wicks are in my view always a place to pay attention to. High probability that the price will reverse in opposite direction.
Also some divergence on the TDI.
And as i already said the MTF MA rule was in place (price->20 daily ema, while 20 daily ema-<50 daily ema)
-M15: You can see a nice long divergence of the TDI occuring, after price hit the round number twice, and rejected it twice. Then i waited for the purple arrow to come up, which is the FIFO Alert (It does not repaint fyi). As soon that popped up, i entered with a risk of 50 pips which represented 1% capital.

Trade management:
I was asleep. I woke up after the big spike down unfortunately. But i managed to close the trade for 68 pips, so + 1,36% gained risking 1% (+1,36R in my terms of speaking).

Next one

So after a nice day on the boat in the sun in the Amsterdam Canals here, i took this buy on the GBPAUD. I hope you can see where i entered (at 23:42 on 06.06, the first blue arrow that appeared on the M15).

Reasons i took this trade:
-Daily: I saw we entered the level where previous resistance was found, thus meaning it could provide enough support to go up again. It did, but not what i was expecting but you will see what happened.
-H4: The first bar after the weekend opened on sunday/monday night, for at least the next 3 full candles price wasn't able to close below or above that candles' range. So we were consolidating a bit after that nice downmove. I was expecting price to atleast fill the weekend gap. And since we were at the bottom of the MTF MA rule, i was expecting price to go up, so i went down to M15 looking for a long entry:
-M15:
I saw a really nice divergence. Price touched the 1.9533 level 3 times but failed to close below, while TDI went up. It also broke a trendline that you could draw downwards, creating a triangle (which was broken). So as always, i was waiting for a blue arrow to appear. At 23:42 it appeared, and i entered a long.

Risk: 91 pips / 1%.
Then i fell asleep. and as you can see the price shot up, straight to the 544 ema on M15. Here you can really see the power of the 544 ema. It literally touches it and goes back. Also, on the H4 chart that level is a previous resistance level, which has a probability to turn into support. If i was not asleep, this was a winner. But since i have an EA that moves my stop after to Break-Even, after price went up as much as my SL is, this one was closed as a break-even trade.

Risk 1%, return 0%/Break even.

In other words:

Risk: Sleep, Return: Lesson: I need to sleep less...

This one is the exact same one as the trade above this post. Only difference, i woke up early enough to close the trade in profit instead of breaking even.

Risk: 183 pips / 1%
Return: 115 pips / 1.59%
1R for 1.59R

That's it for now, these are all trades taken upon now, so see you soon!

Have a good day/week. If i open a trade, i always try to post it here as soon as possible, but had some busy days monday and today, so see you tonight, or tomorrow, or when the market gives us a nice high probability oppurtunity

Greetz,

TheJube.

Back again. Got 5 trades to review. I Think this journal will be a daily one, recapping all trades taken that day/night. For live following you can check my trade explorer.

Anyway, let's start!

I added another indicator, from Davit's thread, its the support resistance indicator, take a look there or tell me if you want it!

EUR/USD Sell. Risk 1%. SL: 23 pips.

Reasons trade taken.

D1: Saw a daily candle with 2 wicks of the same size, with a real small body. So i thought maybe a reversal could come up. Also entered previous resistance area. Weekly 20 ema is below weekly 50 ema, so downtrend in place.
H4: Saw nice divergence in the 68 area on the TDI. Also off of the 38Resistance. 20 And 50 daily EMA were just about to cross, but at that time 20 was below 50, thus downtrend confirmed. And a purple FIFO Arrow appeared, so all in place to go down to M15
M15: Saw a diamond pattern forming, this was not the most beautifull entry, but i just took it in the middle of the diamond. Arrows appeared.

Didn't work out, got stopped out for -1%.

Better luck next time

Sell AUDJPY. SL 27 pips/1%.

D1: 20 and 50 weekly EMA are down. Price pulled back into the 20 and 50 daily ema's (the thin and thick silver MA's on the chart). Did spotted the TDI divergence, so i was a bit weary, but just took it.
H4: 20 below 50 daily EMA (as stated on D1 analysis). Rejection of the R38 level in place. Green TDI was ready to cross down the red TDI. Round number of 80.000 was rejected (about the same level as R38). So heading down to M15.
M15: Saw a possible channel forming, so i drew 2 trendlines before the trade was taken! (Yes sometimes some handwork needs to be done ). I did not immediately take the trade on the purple arrow that appeared. Why? Because i saw the TDI was running out of steam. Most times it has to cross up the yellow line, in order to get some pushing action downwards. So waited for that, and then there was a little divergence on which i entered. SL At Yellow ZigZag dot.

Then price went down quite nice, hitting the trendline i drew. I learned a lesson about my money management technique from this, because the trade could've been stopped out on a better place, but yeah learning comes with time

Recap:
Risk 27 pips, gained +27 pips, so 1% risked for 1% gain.
1R:1R.

And a nice lesson learned MM wise.

Next one! (Oh and i added the H1 MTF TDI on the M15 chart as you can see!).

Sell AUD/NZD

D1: 20 Just crossed below 50 Weekly MTF EMA. All MA's going straight down, thus downward trend confirmed. Then i looked for a pullback into the ma's, which i found.
H4: Price pulled back into the 20/50 Daily MTF EMA. So looking to sell since 20 is below 50 daily EMA. Really nice bounce off of the R38 level, which is about the same as the 1.0700 round number. Enough reason for me to drop down to the M15 chart!
M15: Here the same as the last trade. I was waiting for the TDI to cross back on the yellow TDI line. So i did not immediately enter on the first 2 purple arrows, but at the third one as you can see. Entered there, also saw the H1 TDI crossing down the yellow line, so it looked all good.

Took the trade, risking 54 pips/1%. Stopped out at +25 pips/+0,46%.

(Would be looking to long now (21:42 gmt+1). News incoming but expecting rate hike on the NZD. Pivot point touched on H4. M15 divergence. Will be looking to long right when the oppurtunity occurs around newstime!).

Make up your face like youre going to prom. This one is a beauty Only ugly thing is my brokers spread, entered way beneath the trade arrows indicate, but anyway enought blls*ittng

Silver buy, Risk: 19 pips/1% (Accidently opened 2 trades since the first was 0.01 lot, so second was 0.03 to get 0.04, which is 1% at 20 pips).

D1: Blue arrow appeared. Price bounced nice from the 20 and 50 MTF Weekly EMA's. And 20->50 upward trend in place. Also bounced off of a previous resistance area at 15.80. So enough reason for me to check the H4 chart.
H4: 20 Daily MTF EMA above the 50 Daily MTF EMA, thus also upward trend confirmed. Price even went under both MTF MA's, eating some stop-losses . Then the pivot point was touched exactly on point. Blue arrow formed at the candle close (the indi tells you possible arrow forming when the bar is still open and an arrow is in the womb, ready to come out). Drew a trendline that was broken. So alot alot alot of reason to go down to M15
M15: Price bounced off the pivot (same as H4). And off of the 544 ema, and yellow dot occured there, which indicates my SL and a nice bounce that price made there @16.22. TDI- Again waited fot red and green tdi line to cross back below the yellow line, thus looking to buy. Also a plus was the H1 TDI showed green, yellow and red were together, which indicates a possible trend upcoming. So entered after the green tdi crossed back up, blue arrow appeared. And there you can see the spread/slippage thing in place, but yeah, life sucks sometimes

Entered, 19 pips risk/1%. MM took me out for +55 pips/ +2,89%.

EURGBP Sell.

Quick one, my hands are having a hard time typing

D1: MA's in place, trend up confirmed. TDI Up.
H4: MTF EMA's confirming downtrend. Last candle rejected R38.
M15: Purple arrow in place. Should have waited for TDI, explained in the last 2 trades. Was too in a hurry. Also 0.7800 Round number was there, which i completely forgot... Lions make mistakes too

Raaaawwwwrrrr///

SL: 43 pips/1%, reward: -1% (stopped out at the yellow ZigZag dot).

Lessons learned: Always wait for the TDI to confirm, and don't forget the round numbers!

Oh, and if you guys see anything you would like to add/ask, go ahead!

I'm here to help you and get help from you.

RAAAAAAWWWRRRR!!!!!!!

Greetz,

TheJube.

Could someone please clarify why the Trade Explorer on FF says 2,5% gained, and the MyFxbook explorer says 3,8%?