The apprentice's Journal.

[AspiringTrader.]

Hey guys n gals.

Just wanting to start a journal to keep track of my trades and hopefully test my methods, challenge my discipline and make any required adjustments to my trading plan. I have a couple of half arsed journals on paper, but i find it more difficult to keep up with due to printing of charts accompanied by very messy hand writing. Hopefully i can stick this one out and really see my worth in the world of trading.

I'll be trading FX live on a micro account @ roughly $0.50 per point Australian with $1000 capital(hopefully i don't lose it all too quick..lol)

I'll post pictures of my charts along with reasoning, entries, targets and stops.

My method is mainly TA, trading 1H and dailies with 15m for specific entries.
I use price action for my setups, no indicators just horizontal and diagonal lines.
I'll be posting calls on here immediately after i trigger the Buy/Sell button just so i'm not messing about when the setup is ready to rock. I'm usually in the trade for at least a few hours to a couple days pending on the trade of course so you'll be able to tell they're genuine by the time passed from entry to exit in case i post my calls a couple minutes late.

Up until now i'm a non-consistent trader, mainly due to not following my plan. I hope with this journal where others can see i'll be more wise to this and really just stick to my guns this time.

feel free to drop by, say hello, give advice, give sh*t, whisper sweet nothings into my ear! what ever really, i'm far from sensitive. All criticism is welcome.

I'll be posting my first trade as soon as it presents it self!

Cheers,
AT.

 

[AspiringTrader.]

Looking for a short on the Eur/Usd, bounce off of pivot line. Looking for closed hourly bar sell signal.

 

[AspiringTrader.]

Short Eur/usd
Entry 1.4430
Stop 1.4460
1st traget 1.4388
2nd target 1.4350

 

[AspiringTrader.]

okay, in like flyn. Hopefully all goes well.

US Gdp out in a couple hours, looking to be a touch weaker this time round, so if i'm lucky enough to be in front at all by then, i'll move my stop to BE just in case of a big move when the data comes out.. just little worried thats all

 

[AspiringTrader.]

moved to BE, in case of unfavorable US data in 25 minutes.

 

[AspiringTrader.]

Closed out for + 25pts

 

[AspiringTrader.]

USD gdp weaker than expected, thought i may as well close with at least something incase of being stoppped. Although 8 minutes on and it's barely moved..lol

Exit 1.405

+25


* edit.
I've added my first chart before entry and last chart after exit, Even after unfavorable data my trade would have eventually hit both my targets if i hadn't moved my stop or close out. BUUTTTTT, This doesn't bother me at all because it did rally 50 odd pts in the hour after the release, so it could of easily just popped up higher and stop me out anyhow. In my opinion the risk was far more greater to lose pts gained then head into negative territory and eventually be stopped out, than hoping for a 100pt rally down like it did to hit my targets.

the data kinda stuffed this one up for me..lol. but that's trading ey!

 

[tomorton]

Good decision to keep a log AspiringTrader., well worth the effort. i am sure we watch progress with interest. Good luck.

 

[AspiringTrader.]

Good decision to keep a log AspiringTrader., well worth the effort. i am sure we watch progress with interest. Good luck.

Thanks mate!

 

[AspiringTrader.]

Looking to possibly go long Gbp/usd, and i'll be watching eur/usd closly this week for long breakout on the daily.

Charts attached

 

[AspiringTrader.]

looking for entry shortly

 

[AspiringTrader.]

Long gbp/usd
Entry 1.6404
Stop 1.6345
target: see attached charts for targets

 

[AspiringTrader.]

Set gbp/usd to take profit at fisrt target, adjusted to 1.6470.

All in all, trade isn't coming off as i was hoping it might. It's much slower than i thought it might have otherwise been. Over night it rallied just over 50 points over about and hour(23pts of my first target) only to retrace the entire rally in a matter of 15 minutes, so i'll just have to wait and see.

Had to set my target as i'm off to work and have no access to any computers, so i can't actively manage my trade.

GL

AT.

 

[AspiringTrader.]

stopped out gbp/usd.

-49 pts

 

[pb8856]

Tough break there, enjoying the journal and will be following along. Good luck !

 

[AspiringTrader.]

Thanks mate, hopefully a couple winners next week!

 

[AspiringTrader.]

Looking for possible long on gbp/usd upon close of the daily bar.

 

[pb8856]

Good call, the 200MA is lurking down there as well as additional support

 

[AspiringTrader.]

Hoping for another quick move lower, then look for a long entry point, or if not i'll try to buy on the break of the previous daily bar. If it doesnt move before i get home from work.

 

[AspiringTrader.]

Good call, the 200MA is lurking down there as well as additional support

Cheers, hopefully if I can get an entry the trade might work for me this time. lol