3 Ducks Demo journal

This is a discussion on 3 Ducks Demo journal within the Trading Journals forums, part of the Reception category; Order filled as I finished the last post. Lets wait and see. Order filled because I didn't factor in the ...

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Old Dec 20, 2011, 1:48pm   #43
Joined May 2011
Re: 3 Ducks Demo journal

mentormeplease started this thread Order filled as I finished the last post. Lets wait and see.

Order filled because I didn't factor in the spread so price hasn't broken the high as yet. Anyway lets see since I'm in the trade already.

Last edited by mentormeplease; Dec 20, 2011 at 1:52pm. Reason: Factor in spread.
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Old Dec 21, 2011, 6:10am   #44
Joined May 2011
Re: 3 Ducks Demo journal

mentormeplease started this thread Ok yesterdays trade was a loss.
-47 pips ($280)
Balance = $5754
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Old Dec 21, 2011, 6:18am   #45
Joined May 2011
Re: 3 Ducks Demo journal

mentormeplease started this thread Two important lessons to learn from yesterdays trade.
1. By not factoring the spread, I got in the trade too early and was stopped before the proper entry target had been reached. Viewing the chart now, I see that I could have at least hit BE when the trade should have actually triggered.
2. My disappointment at not getting in the trades earlier probably prompted me to get into the next trade without proper analysis. In hindsight, one could see that the daily high would have offered resistance and my RR would not have been met and I would have to monitor the trade closely. This should not have been a "set and forget" trade.
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Last edited by mentormeplease; Dec 21, 2011 at 6:21am. Reason: Added chart
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Old Dec 21, 2011, 6:41am   #46
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Re: 3 Ducks Demo journal

mentormeplease started this thread Short setup on USDCAD
Entered 2 lots at 1.02596
sl 1.0272
tp 1.0233
Price has broken yesterdays low of 1.0263 and this level should offer some resistance for price to reach new lows for today.
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Last edited by mentormeplease; Dec 21, 2011 at 6:51am.
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Old Dec 21, 2011, 6:52am   #47
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Re: 3 Ducks Demo journal

mentormeplease started this thread Just need to watch the 1.0250 level which could also offer some (resistance) support.

Last edited by mentormeplease; Dec 21, 2011 at 6:57am. Reason: Changed resistance to support
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Old Dec 21, 2011, 8:11am   #48
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Re: 3 Ducks Demo journal

mentormeplease started this thread tp hit at 1.0233.
Profit = 26 pips ($519)
Balance = $6274
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Old Dec 21, 2011, 8:15am   #49
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Re: 3 Ducks Demo journal

mentormeplease started this thread Nice setup on the EURGBP as well.
I didn't take it due to the support on daily chart in Nov and Dec 2010 last year and Feb 2011.
As it turned out, it could have been a good trade for a 2:1 RR.
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Last edited by mentormeplease; Dec 21, 2011 at 8:18am. Reason: Entry should have been short at 0.8363
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