Hopefully my last..
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Thread: Hopefully my last..

  1. #1
    I'm starting a diary to keep track of my trades. I appear to lose focus when I try to do so on paper, so maybe, just maybe this will help. Ohhh yeah unlike my last journal this will be for live trades rather than just a”new system” I'm working out.

    To keep it brief I'll be trading EURUSD and GBPUSD only.
    All my signals are based on the 4H timeframe, with the possibility for 2 additional entries into the position to get a grand total of no more then 3 each move.

    I will not be giving my method for the simple actuality I haven't any recorded track record for it. I've been trading it for some time today, but naturally I've blown my account more then once, mainly because I attempt to trade GBPJPY. This is due to greed and I lose focus of this long run and try to trade the GBPJPY. So for now I've completely removed all pairs except for the two listed above. Hopefully this journal will help keep my mindset fresh and always think about this bigger image and eliminate this”lets try to become wealthy by Friday” mindset.

    If inside my diary at some stage I really do feel as though my egy is more worthy of sharing (being marginally consistent and profitable) then by all means I'll do so. Until then I shall attempt to work out any kinks that should arrive.

  2. #2
    Still currently from the GBPUSD. That was a difficult one. About exiting many times thought. I guess thats the pyschological games that I throw when investing the 4H. Where to take profits and when to cut the loss....

    Short EURUSD
    Entry @ 1.4836
    Re-Entry @ 1.4829
    Re-Entry @ 1.4804

    Total 3 positions short.
    SL is at 1.4878

  3. #3
    Exited all 3 Places of GBPUSD at 1.9674

    Position 1= 183 pips
    Ranking 2 = 178 pips
    Ranking 3 = 165 pips

  4. #4
    Exited all 3 EUR place's. Don't possess a valid signal one way or the other so I will sit and wait patiently.

    Exit @ 1.4825
    Position 1 = 10
    Position 2 = 3
    Position 3 = -21

    Lets wait for another set-up.

  5. #5
    Thinking about incorporating a 30M GBPJPY notion for this journal too. Its the exact same principle as the 4H EURUSD GBPUSD just to a 30M scale. It will have re-entries too.

    Perhaps likely to newspaper test to have a feel for it before I go live with it. I think the begining of March should be an ideal time.

    Yeah, March 3rd will be make or break for the 30M GBPJPY

  6. #6
    Quote Originally Posted by ;
    Exited all 3 EUR place's. Do not possess a legitimate signal one way or another so I'll sit and wait patiently.

    Exit @ 1.4825
    Position 1 = 10
    Position 2 = 3
    Ranking 3 = -21

    Lets wait for the next installment.
    Yep its official I'm a moron. In retrospect that I shouldnt of exited if I didnt have a legitimate signal. Well this one came to bite at me. Price is currently at 1.4681. Ughhh....

    *Mental note- Stay in the exchange for you get your signs, your trading a egy not what you believe could happen- if only it had been that easy...

  7. #7
    Hey, what kind of egy are you currently using?

  8. #8
    Quote Originally Posted by ;
    Hey, what kind of egy are you using?
    Tunera, Its a version of this system with price action. Sorry but Im not going to go into its particulars.


  9. #9

  10. #10
    I'd no transactions now only because I exited from my place too early. I am waiting.

    Which made me start thinking now....

    Say I do so at some point, exit early. Can I sit out for the next set-up or do I attempt to re-enter into the position. If I reevaluate what will the standards be for that.
    Hopefully its not only when I feel like it. Can I take my principles and apply them to some decrease TF say the 1H or do I attempt to observe PA and interpret it at my best.

    Im going to actually have to think this over and determine exactly what makes logical sense. The last thing I need to do is trade my account.

    Ideally I dont really need to be in this situation, technically I must ride the program as long as it allows me. However, its always nice to have a Plan B ought to Plan A take you on a detour.

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