My Journal for all to see

[bangkoker]

Nice work, watching with interest now.

 

[herronryan]

had a couple of bad entries

well i was still shorting the euro but the small trend is up. i had 2 bad trades. didnt lose though. i came out a little less than 1 pip ahead.

 

[herronryan]

broke my rules but up 14 pips on the day

well i averaged my price a little and closed out my trade a little after break even. i did this because the trend was clearly down but i put a little too much on the line. not too much more however i did break my rules a little and i am trying to stay consistent. so i placed i sell order and it reversed to the pip! hahaha anyhow i added a couple of more times and came out ahead. some might see this as chasing your losses but not for me because i had a clear stop right above my last entry. up about 14 pips for the day.

one more note... i dont trade the same size every trade. the -3 pips on the top was 1/8 my average lot so i lost very little on that. it was a mistaken 'buy' order instead of a 'sell'.

note to self... to be early is to be wrong. see the reason im pissed at myself is because i made pips yes but i broke my rules which i hate. its **** like this that will blow out people accounts if they are not careful.

 

[RockyRacoon]

Great job bubba!

I took the same trade ha ha! . . . "great minds etc"

 

[Shikamaroo]

wont it blow your account only if you think about it? if you forget that you did it and move on with your method, wont you end up using your method consistently, eventually?

 

[herronryan]

skikamaroo- well my thing is consistency. trying to achieve that. the thing i dont want is the nick leeson syndrome. taking a $20,000 loss and turning it into an $800 million loss and shutting down the oldest bank in england. haha

so here is my trade this morning below. i only made a handful of pips but thats fine for me.

 

[herronryan]

up 7.6 pips today

up 7.6. screwed around in that mini range and took a hit but overcame it.

 

[RockyRacoon]

note ( i set my limit order and at the time the spread was 2.4 pips but as soon as it hit, i was down 4 pips automatically. price didnt retrace one iota. i usually place market orders to try to avoid this but i have been told to use limit orders instead. if a broker sees a limit there, will he snag it for more than what the spread is? anyone wanna comment on this?)

ok here is my chart today...

Limit orders will guarantee that you get the price you want, it won't guarantee the spread will remain the same.

Hey, you make money however you can, they make money however they can lol.

 

[herronryan]

scalping my way to profits

another 4.8 pips

 

[herronryan]

need to get over the retracement jitters! +0.1 pip

for my style, entering on the break isnt good. i dont like the nervousness of going through a retracement. i saw what i considered to be a break above as well as a flag so i took the trade. it went about 2 pips for me then retraced for about 2 hours. all the while i am sitting there second guessing myself. in the end i was right but i closed out my trade before it hit my limit because i was nervous.

 

[herronryan]

up +7.5 pips

i took 2 entries and made 14.8 pips on one and pretty much broke even on the second. the chart says i am up 7.5 pips though. i guess that is averaging both trades. the thing i am happy with is that i have increased my trade size this week so i made more today than any day last week. im gonna see if i have another good entry today. if so then ill take it.

my goal is to gain enough confidence to grow my trade size to 1/2 of 1 percent of my account size and attain 20 pips per day. my longer term goal throughout the coming weeks is to maintain a 1% of my account balance trade size for each trade and maintain an average of 10 pips per day.

having this journal has taught me a lot so far. sometimes i hesitate putting on trades that i normally would have put on before because i know the world is watching. if i know someone is watching my activities, then i am more careful.

 

[herronryan]

up another +7.3 pips

i just shorted the eur/usd on the basis of what i saw on the the 4 hour chart and the 5 and 15 minute.

the best things that have been working so far are:
1. trading extremes with the trend using a different type of analysis than most
2. trend line breaks
3. discipline...working on that one
4. listening to my meditation music to help get me in the zone
5. drinking coffee
6. playing resort world on facebook in between trades haha

basically i am making money by sticking to small consistent gains. im trying super hard to keep my winnings small. it goes against what all the books and teachers tell you but it is what works for me.

all the books say dont add to losers but i have done it with success by keeping my trade size small. if i think i am right, i may add to a position in the red however the second a line is crossed, i reverse or get out altogether.

just my thoughts for the day. up 14.8 pips today so i am happy wth that. i will not take another trade today unless i see a good setup.

 

[herronryan]

added another 6.3 pips

took another short on momentum

 

[RockyRacoon]

Re: up another +7.3 pips

basically i am making money by sticking to small consistent gains. im trying super hard to keep my winnings small. it goes against what all the books and teachers tell you but it is what works for me.

all the books say dont add to losers but i have done it with success by keeping my trade size small. if i think i am right, i may add to a position in the red however the second a line is crossed, i reverse or get out altogether.

just my thoughts for the day. up 14.8 pips today so i am happy wth that. i will not take another trade today unless i see a good setup.

Excellent trading man!

I feel the exact same way about the books - it's no wonder 98% of traders lose it all......btw, what is it that probably 98% of traders have in common? - yep, they all read books on trading.....hhmmm.

 

[herronryan]

a loss i can recover from

i went long twice, then as a mini 5 minute trend line was broken i got cautious. but the hourly trendline was broken however the hourly bar didnt close below it but by that point i had reversed my position. i guess this is what ya call getting whipsawed.

it is a loss that wiped out my gains for the past day and a half but i can recover so im not too upset.

 

[RockyRacoon]

No big fat hairy deal!

Concentrate on staying out of trades that are not high probability - means you'll miss some trades - also means you have the bullets to trade when odds favor you!!

 

[herronryan]

alas! got my mojo back and it wasnt a scalp!

place 3 trades

1st one +25.3 pips
2nd one +9.7 pips
3rd one +45.8 pips

average of 26.9 pips for all 3

anyhow, i got back most of my losses from yesterday and i am happy with that.

note to self as far as yesterday was concerned... "when arguing with wife, don't trade because you will make stupid decisions."

2nd note to self for today, " when wifey loves you again, then it is ok to trade!" ha!

i probably got out way too early but i am not in this to be 'right' i am in it to make money and thats exactly what i did today.

 

[herronryan]

i need to learn to hold on a little longer

i placed my trade this morning and held onto it all day because i believed support was gonna break. i even added to my position because i felt like support was gonna break. then i woke up and started fiddling with it and watching the charts and closed with like a 3 pip profit or whatever.

arg.

well it was still a win.

 

[herronryan]

On a roll today!

My basic strategy today was to spread risk around. thats what i did and my reward was awesome!

took a gbp/usd for +12.1 pips
took a eur/usd for +10.6 pips
took a usd/jpy for +8 pips pips
took a usd/chf for +11.4 pips
and took a usd/cad for +11 pips

ill post my charts in a minute

 

[herronryan]

+53.1 pips

here are the charts