Wade's £100 journal

This is a discussion on Wade's £100 journal within the Trading Journals forums, part of the Reception category; I have been doubting my trading ability and I lost most of my £100 account it is actually hard for ...

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Old Feb 6, 2009, 3:26pm   #17
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gbp/jpy

just1wade started this thread I have been doubting my trading ability and I lost most of my £100 account it is actually hard for one to bounce back from such a bad losing streak but I placed a trade today on gbp/jpy which was good trade but my emotions got the better of me (the evil emotions fear and greed). As I placed the trade I had a target but then greed took over and I thought I should go for more. The price dropped stupidly then fear kicked in and I got out with a sad +24 points when it should of been +86 points. At the end of this trade I realized that I have not been following the basics and ignored my game plan the strange thing is I have no idea how got to this point, THIS CANNOT HAPPEN AGAIN!
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Old Feb 6, 2009, 3:53pm   #18
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Old Feb 6, 2009, 5:39pm   #19
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just1wade started this thread I placed another trade but this time following my rules. My entry reason: perfect inside bar/spinning top on support so I placed a trade in the direction of the trend. I was planning for a quick trade because resistance was close and just as I thought, the trade played my game, a quick +50 point profit .
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Old Feb 9, 2009, 3:49pm   #20
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quick trade

just1wade started this thread I was not suppose to be trading today because I've been babysitting but baby fell asleep and I decided to take a look at the market. This was a quick +44 point trade off a 5min chart. The entry reason: a small pullback which ended in a spinning top my entry was a break of the high of the spinning top because the overall trend was up. I got out because I reached my target which was a resistance line.
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Old Feb 9, 2009, 4:19pm   #21
 
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[QUOTE=just1wade;654000]I was not suppose to be trading today because I've been babysitting but baby fell asleep and I decided to take a look at the market. This was a quick +44 point trade off a 5min chart. The entry reason: a small pullback which ended in a spinning top my entry was a break of the high of the spinning top because the overall trend was up. I got out because I reached my target which was a resistance line.[/QUOTE

Well done
Just to note as an aside - forgive me for butting in -
Price also broke an area of conjestion and an Inside bar.
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Old Feb 9, 2009, 5:12pm   #22
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just1wade started this thread
Quote:
Well done
Just to note as an aside - forgive me for butting in -
Price also broke an area of conjestion and an Inside bar.
No problem butt in at anytime because I didn't see what saw, so its a good thing that you through in your 2 cents because I am a newbie in this game and its sometimes its good to look through another traders eyes.

Thanks
Neil
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Old Feb 13, 2009, 10:12pm   #23
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just1wade started this thread I placed this trade going long on a 1hr chart(gbp/jpy) which I never do but I thought I would give it a go and the trade went against me, luckily I used very good money management and only lost 1% of my account. I only risked 1% because I don't trade 1hr charts and I was not sure about the trade. In the end I got stopped out.
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Last edited by just1wade; Feb 13, 2009 at 10:15pm. Reason: can't spell
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Old Feb 17, 2009, 11:53pm   #24
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late night trade

just1wade started this thread I took this trade short because the overall trend was short. Reason for my entries were both pullbacks and my exit was based on me reaching my target.
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Last edited by just1wade; Feb 18, 2009 at 12:12am.
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