Trend Following Trading Journal

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Old Feb 9, 2014, 8:52pm   #1
Joined Jan 2008
Trend Following Trading Journal

I have decided to get serious with trading and hence decided to document everything. I don't claim to understand the markets or be some guru, just someone who has come up with a strategy that works for me and has been right more than 50% of the time over the past year. I firmly believe in keeping things as simple as possible therefore don't use anything fancy.

The below is an outline of my strategy - which I am mainly going to use for my own trading discipline.

Time Frame:
Daily and sometimes 4HR to help with analysis.

Tools:
I use fib retracements, horizontal support & resistance,trend lines, breakout from a period of consolidation, 1-2-3 formations and Japanese candlesticks.

Money Management:
No more than 2% of capital on any one trade. The amount I will use will depend on the setup. Once there has been a strong move in my direction, move stops to break-even.

Entry & Exit:
Enter the trend at areas of confluence on a counter trend wave. Once there has been a strong move in my direction, move stop to break-even. Let the position run until the trend has changed. A change in trend is signalled by a 1-2-3 formation. Another entry is a break of a consolidation range.

Those are the main concepts but not everything. Let's see how this goes. The strategy definitely produces a lot more losing & b/e trades than winners but the winners far outweigh the losers.
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Old Feb 9, 2014, 11:20pm   #2
 
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Quote:
Originally Posted by vish4al View Post
I have decided to get serious with trading and hence decided to document everything. I don't claim to understand the markets or be some guru, just someone who has come up with a strategy that works for me and has been right more than 50% of the time over the past year. I firmly believe in keeping things as simple as possible therefore don't use anything fancy.

The below is an outline of my strategy - which I am mainly going to use for my own trading discipline.

Time Frame:
Daily and sometimes 4HR to help with analysis.

Tools:
I use fib retracements, horizontal support & resistance,trend lines, breakout from a period of consolidation, 1-2-3 formations and Japanese candlesticks.

Money Management:
No more than 2% of capital on any one trade. The amount I will use will depend on the setup. Once there has been a strong move in my direction, move stops to break-even.

Entry & Exit:
Enter the trend at areas of confluence on a counter trend wave. Once there has been a strong move in my direction, move stop to break-even. Let the position run until the trend has changed. A change in trend is signalled by a 1-2-3 formation. Another entry is a break of a consolidation range.

Those are the main concepts but not everything. Let's see how this goes. The strategy definitely produces a lot more losing & b/e trades than winners but the winners far outweigh the losers.
looking forward to this, what are you trading Vish4al?
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Old Feb 10, 2014, 12:23am   #3
Joined Oct 2013
Hi Vish4al

I wish you luck and I hope you do really well

As soon as you said you where keeping it as simple as you can - with nothing fancy - you worried me - but at least in your toolbox you have a few essentials and if you combine them well - you should be OK

The main question is - which trend will you be following - ie the yearly - quarterly - monthly - weekly - daily - 4 hrs or under?

Regards

F
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Old Feb 10, 2014, 8:42am   #4
Joined Jan 2008
vish4al started this thread Cheers guys - forgot to add I am trading FX, equity indices and Gold. My biggest issue with these markets is correlation so in an attempt to mitigate will also be looking at exotic FX pairs, even though the spreads on these are a bit crazy.

As for which trend, I will be trading the daily however may trade a daily countertrend move using the 4hr charts. Weekly and monthly charts will
Be used to spot key S&R. My platform is IG Index mainly as I am just very used to their charting software.

I will spend this week analysing and will look for setups the week after. This strategy doesn't have a lot of entry points so patience is key.

Last edited by vish4al; Feb 10, 2014 at 8:42am.
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Old Feb 10, 2014, 8:58am   #5
 
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With trend (the big ones).
Keeping it simple.
Being patient.

Sounds great
GL
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Old Feb 26, 2014, 9:49am   #6
Joined Feb 2014
Hi Vish4al

Really good luck with your setup. You've taken a lot on.
btw you been a bit quite since you started, will there be more?

Regards

Jack
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Old Feb 26, 2014, 9:00pm   #7
Joined Jan 2008
vish4al started this thread Snowboarding in france this week. Prob made more sense to start this thread after but my initial analysis will take around 1-2 weeks starting next week, then will be on the lookout for trades.
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Old Feb 27, 2014, 2:08pm   #8
 
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Originally Posted by vish4al View Post
Snowboarding in france this week. Prob made more sense to start this thread after but my initial analysis will take around 1-2 weeks starting next week, then will be on the lookout for trades.
Take your time and enjoy yourself. Don't let anyone rush you into posting because they are impatient to hear from you. The market will still be there when you get back from your break.
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