Thread: s Trading Journal (Do not post)

EUR/CAD LONG
Entry: 1.6160
Stop Loss: 1.6110
Take Profit: 1.6250
Position size:.5Percent
(miscalculated- Really risked .736Percent )
Trade: B

Prediction:

The Monthly Daily show a downtrend. The Daily has a very weak pinbar, I would not trade on, suggesting that price may go down.

The Weekly graph indies a ranging price.

I'm going with and contrary to the trend on this trade. I'm retarded.
Edit* This post was made after the trade. In all seriousness, I saw a consolidation and hoped to ch the breakout. Unfortunately I figured wrong, didn't have an entry signal, and shouldn't have entered the trade. This was a guess, not a trade.

The 4 Hour and 1 Hour chart indies a continual higher high and higher low on the price, together with routine retracements roughly every day. I guessed the big bullish outside bar from 4/23 would continue the uptrend following a retracement. I put my entrance over the open price 8 hours before (4 Hour chart), and also above the previous retracement highs.

I predict the price will likely continue to grow until the next Fib confluence and 4 hour take profit degree (see 4 hour chart).

Graph 1: Weekly
Graph 2: 4h
Graph 3: 1h

Hi,

Outcome of This 4/23 trade- Reduction.

Total reduction: $3.68
Account size: $500
% Account reduction: -0.736%

Analysis: What was I thinking? I was gambling, not trading. I was working on a consolidation when my current system isn't setup to exchange without entry signals.

Take home:
1) I want to review scalping methods- that is something I should be well prepared to enact once my account dimensions reaches above 10k.

Two ) I want to study consolidations in order to accurately forecast breakouts-
a) Entry signals
b) Exits
c) True breakouts
d) Stop/loss methods

CHF/JPY SHORT
Entry: 101.55 (1% risk), 101.79 (.21% risked)
Stop reduction: 102.05
Take Profit: 100.70
Ranking size: 1.21percent
Trade: A

Prediction:

The Monthly chart indies a continual uptrend. The Weekly show a downtrend. I'm trading against the monthly trend, and together with the weekly trend.

The Daily chart reveals DBHLC!!!! Double High Lower Close! Great signal on a longer term transaction. This signal suggests to me that price is going down (in the brief term) in accore together with the weekly trend. How far will it move? Let us ask the trusty 4 Hour tunnel.

The 4 Hour chart shows a TBL! Triple pub low!!! This implies a new support which, if broken, can signal a breakout back (if I understand James16's price action methods correctly). In the time of the trade the newest 4h pub hasn't closed and price has rebounded over the TBL (see chart ). I've set my entrance (with 1 percent risk) directly under the low of the current bullish bar expecting price to fall and fall into the first 4 hour tunnel take profit level.

The 1 Hour chart indies a pin bar but, again, this pub hasn't closed yet so this aspect remains speculative.

I predict the price will fall to the first 4 hour tunnel take profit level.

*Note: I initially risked 1 percent, however I wanted to risk 2% as this transaction is absolutely an A trade. When I attempted to create that 2% committment I understood I had been scared- I hadn't risked that far and I was uneasy even though I thought this transaction to be an A transaction. I eventually consoled myself with just an extra.5% account amount, as a direct entry 30pips or so above my 1 percent account size entrance, but using the identical prevent loss. Kind of strange activity based on my system, but that was exactly what I felt comfortable doing.

Position: Entering under the last non.

Graph 1: Daily
Graph 2: 4h
Graph 3: 1h

Hello,

Outcome of the 4/23 trade- GAIN.

Total Gain: $12.7
Account size: $500
percent Account profit: 2.54percent

Analysis: Cease loss was moved to 100.75 when price reached 100.65. I removed the take profit once I saw my target had been reached and that I extended my take profit to the next 4 hour tunnel point.

Take house:
1) Great commerce, signals and prediction
2) Attempt focusing only on the A trades, like a sniper, and stop playing around with the.6percent and.4% risk B trades.

Enacting #2 will probably will result in only 1-2 trades per week, at 4-6percent account growth weekly whilst risking 2-4 percent, but profits will compound. If I can get a scalping system ready to go though, and get that to provide 4-6% weekly then I'll be happy.

5/6/8: EUD/CAD SHORT

EUR/CAD SHORT
Entry: 1.5605
Stop Reduction: 1.5550
Take Profit: 1.5405
Ranking size: 1.5Percent
Trade: A

Prediction:

The Monthly and Weekly chart shows a Current but strong downtrend. I am trading with the tendency with this one.

The Daily graph shows triple bar high, which I noticed as a resistance back in late april. Based on the price downtrend beginning May 2nd, it appears like price is dropping strongly from this resistance- that I shall check the 4 hour to my entrance... How far will it move? Let's ask the convenient 4 Hour tunnel.

The 4 Hour chart shows a DBHLC! This morning, before work, I noticed the this sign as it was very clear- in the swing point with a strong fall. Just in case it turned out to be a false sign I put my entrance below the closest major Low to the hourly, in 1.5605. Looking back I forfeited 45 pips of extra profit (1.2% profit!!!) But I am after my principles - pick an entry the reduces the odds of a terrible trade, regardless of the potential loss of profit. In the close of the month I will try and go back to check if this technique costs me more than it saves.
I think, depending on the strength of the weekly and monthly trends, this trade will hit the second take profit on the 4 hour tunnel, consequently my exit point is at 1.5405.

The 1 Hour chart shows a clearer DBHLC.

Decision UPDATE
I have moved my stop ahead ~12 hours later going into the trade, and again now, before I go to sleep. Current profit is $13.00 or 2.6% of account, and my stop loss guarentees a profit of $5.50. I am considering moving my stop around $10.00 guarenteed profit...

Graph 1: Daily
Graph 2: 4h
Graph 3: Upgraded position w/ Oanda

5/6/8: EUD/CAD SHORT

EUR/CAD SHORT
Entry: 1.5605
Stop reduction: 1.5567
Account Gain: 1.05%
Trade: A

If I had not moved my stop loss my profit would have been 2.5%.

Maybe I need to revise my principles don't allow a winner turned into a loser *about non-A trades. For now I will continue with my system, unchanged. Profit is profit.

5/15/8 AUD/USD LONG

AUD/USD LONG
Entry: 0.94250
Stop reduction: 0.93750
Take Profit: 0.94950
Position size: 1 percent
Trade: A-

Prediction:

The Monthly and Weekly chart indies an uptrend, no matter how the monthly chart suggests that price will soon dip down to attain aid as it appears to do quite frequently. I am trading with this trend.

The Daily graph reveals nothing of attention - no indiions or price action.

The 4 Hour chart shows a TBH! It looks like price is trying to crack through this new resistance, and is currently consolidating prior to a breakout. While the major trends coincide with the predicted breakout, the long-term trend tends to fall back to the monthly support line regularly so I have trouble trusting this pair. For that reason, and since the only price action is about the 4h time frame, this can be an A- commerce at best. I am risking 1 percent, and setting my take profit at the very first 4hr tunnel exit point. I have produced a purple resistance line and put my entry above the TBH.

The 1 Hour chart indies a clearer TBH plus a Flat upper triangle, one of the first patterns I heard, indiing price will split.


Graph 1: Daily
Graph 2: 4h
Graph 3: 1h

Hi,

Outcome of This 5-15-8 trade- GAIN.

Total Gain: $7
Account size: $500
percent Account profit: 1.4%

5/15/8 EUR/AUD SHORT

Entry: 1.63950
Stop Reduction: 1.64800
Take Profit: 1.62550
Position size: 1.5Percent
Trade: A-

Prediction:

The Monthly and Weekly chart shows a Powerful Latest downtrend. There are no significant signs on this lengthy time period. I am trading with the trend.

The Daily graph shows nothing of interest- no indiions or price action.

The 4 Hour chart shows a TBL! It appears like price is attempting to break through this new service. Since the only price action is on the 4h time period, this is an A- trade at best. I am risking 1.5%, and setting my take profit at the first 4hr tunnel exit point. I've created a purple resistance line and put my entrance beneath the TBL.

The 1 Hour chart shows a clearer TBL, but no additional signs.


Graph 1: Daily
Graph 2: 4h
Graph 3: 1h

Hi,

Outcome of the 5-15-8 trade- GAIN.

Total Profit: $11.36
Account size: $500
percent Account profit: 2.272percent
After moving my stop reduction on 5/18 I was stopped out on this one.