Thread: SophieFXs Journal

Originally Posted by ;

Hello The intention of this journal is to log my own progress over time as I learn and hopefully become a seasoned trader. I believe I am slowly getting there I've mainly been trading based on the daily chart, but have the opportunity to day-trade in the upcoming time, so I've made a trend following trading platform based on 1H charts. This should reduce the stop space and potentially increase my profit potential whilst still keeping risk very low. I am conservative and risk averse. I monitor the subsequent 10 currency pairs: EUR/USD,...

hi sophie
whats your egy? any chart?
Thanks and good luck

Originally Posted by ;

hi sophie
whats your egy? any chart?
Thanks and Decent luck

Hello

Thanks. I haven't really decided yet if I want to reveal my actual trading methodology, but the egy is to utilize the methodology combined with risk averse and conservative money management, in order to become consistently profitable (to accomplish aims as explained in first post). I've attached a chart where you can see I just take my entries in a specified time window (08:00-17:00), ching pullbacks in the overall trend. The philosophy is to get into a trend using a high chance entrance, reducing the stop space and so maximizing the possible profit factor. These previous two trading sessions at the Euro was real pleasant and simple. Both could have been long entries and large R-multiples.

It won't always be the case, as the chart on Loonie shows, where there wouldn't have been some entries in the past few sessions, but manual rear evaluations are very favorable, so the trick now is to constantly and economically (very important) use it to future reside markets. The only MA on the chart is the 50 ema (on close) utilized for fashion bias.

Sophie

THANKS

Originally Posted by ;

THANKS

#8203;

A Few signals early in the session:

Trade #1: Long EUR/USD
Trade #2: Long GBP/USD

Details Will Soon be updated.

Update:

Cable took off quickly after my entrance... here's the entrance details:

Trade #1: Long EUR/USD @ 1.1484. SL 1.1419 (65p). TP 1.1549 (65p) 1:1 RR. Closed in B/E. Position was at some stage 19. By taking this trade I really violated a rule of this machine. Drop in efficiency.
Trade #2: Long GBP/USD @ 1.5670. SL 1.5629 (41p). TP 1.5711 (41p) 1:1 RR. TP hit for 1% profit.

Update:

I'm manually shutting the Euro long at b/e. Am very satisfied getting off to a good start with a 1 percent gain.
There was also a signal on USD/CHF (to sell) but dismissed it as I had been already exposed in EUR/USD.

Originally Posted by ;

Trade #1: Long EUR/USD @ 1.1484. SL 1.1419 (65p). TP 1.1549 (65p) 1:1 RR. Closed at B/E. Position was 19 at some point. I really violated a basic rule of the system by taking this trade. Dip in efficacy.

TP in 1549 was finally struck...

Originally Posted by ;

Trade #2: Long GBP/USD @ 1.5670. SL 1.5629 (41p). TP 1.5711 (41p) 1:1 RR. TP reach for 1% profit.

This is a pretty crazy day

Sitting here thinking what should any I heard from today's price action... guess I heard I need to expect my system a bit more. May have gotten 2% instead of 1%. Or even 3% had I also shorted USD/CHF. Second is, my account was not hurt by the wild spikes. And is it will or over another bloodbath is sparked by Asia?

I shot one trade beyond the machine (See chart), which was the 1 hour trap bar on USD/CAD but for the interest of monitoring this system, I will not incorporate the win. Sold at break, goal yesterday's large. Plus it only blew through to strike the 50 ema down below.

Good trading

I am carrying a price action commerce, beyond the 1 hour system, 4 hour pin bar on EUR/GBP which is a beauty. TP around 0.7230. SL 0.7405.

Originally Posted by ;

good trading

Thank you . I hope you had a fantastic day at the markets also