The apprentices second journal.

AspiringTrader.

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Hey, if anyone is actually reading this i did have journal but i decided i need a new one. My last journal was unsuccessful in terms of trading, and this could probably be equally as sh@t.

But i think I've come along way since the last Journal and now i have a lot more time on my hands..

i trade only 5k lots, im no bigshot.. yet :cool:

Nah all honestly i do trade better, hopefully i can put some results on the board.

Cheers.
 
I'm currently short NZD/USD

Entry 0.82806
Stop 0.83057

Target area 0.8200ish Will be monitoring.
 

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EUR/USD short closed @ 1.37606 + 22.6pts

closed out after it reached resistance, did see the point in the extra risk reaching for 1.3800 area and with US consumer confidence out later today i decided to close out the position.
 

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Short EUR/USD @ 1.37378

Though as I'm writing, I'm starting to think i just might have jumped the gun on this short. Will see how it plays out.

Stop: 1.37680
Taregt: 1:3700ish
 

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EUR/USD is starting to come off a little currently 11pts. If it the euro continues to fall i will be looking to short EUR/NZD if it can break the 2 day low.

Just have to wait a see what the market does.
 

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Moved EUR/USD to BE - rejecting lower prices could swing back.


EDIT:

Closed out EUR/USD short+14

I probably should have let it run longer but i decided to close out because of previous price action had rejected that area. Writing this now i think i should have probably waited it out. Worst thing that could of happened would have been break even.

EDIT: its continuing fall..40pts so far, i will learn from it.
 

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EUR/NZD
short was triggered a few hows ago its been up and down a little above my entry but about -15p or so now but im still happy with it

Short: 1.64545
Stop: 1.65204
Target: 1.6390ish



EUR/USD

Broke out of range and retesting previous support turned resistance.
Thought i would get in there at that level, think its still quite bearish and SSI has something like 3.9short to 1 trader long. I've got a 50p stop on that bad bay incase it wants to move around a bit.

Short: 1.36822
Stop: 1.37300
Target: well she's got legs to strecth all the way down to 1:3560 if it really wants to

Its my birthday too, so i imagine these trades will go horribly just to spite me. :party:
 

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NZD/EUR moved to BE - its around +30p at the moment

EUR/USD - is up around +10p, no stop change

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NZD/EUR short closed @ 1.63913 +63.2p
Hit traget area.

EUR/USD - is up around +29
 

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Moved EUR/USD short to BE due to euro unemployment change due in a few mins

G 6.8% , no change

EUR/USD stop moved back up a litttle to 1.3707
 
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EUR/USD stop moved to BE, currently up 32p. Target order at 1.36000.

Im going to see the light of day.

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EUR/USD short closed @ 1.36596 + 22.6p

Hourly candle bar closed high. Will be looking for re-entry
 

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Hi I have been offered two jobs one
Is at one two trade and another is at a fine wine company I'm having a little trouble deciding which one to choose. The fine wine company pay a basic salary then commission but I was thinking wine would probably be harder to trade, but then one two trade is all commission but they have a wider range of currencies commodities and currencies to trade? Could anyone help me please ?
Thank you.
 
Hi I have been offered two jobs one
Is at one two trade and another is at a fine wine company I'm having a little trouble deciding which one to choose. The fine wine company pay a basic salary then commission but I was thinking wine would probably be harder to trade, but then one two trade is all commission but they have a wider range of currencies commodities and currencies to trade? Could anyone help me please ?
Thank you.

eermmm.. OneTwo trade is a peice of sh@t from what i have read on the net, so no.

Fine wine? who knows.. weird to be asking me career advice.

I'm guessing you have no knowledge of what you're doing to even suggest Onetwo trading.. stick to your strongsuits, do what ever you do best. Maybe you're good at selling, who knows. Though if you have already got the job at fine wine with salary, then do it just for the experience if it's what you really want to do.
 
2 short entry orders triggered while i was out.

NZD/USD short @ 0.83530
Stop: 0.83882
Target area: 0.8259

AUD/USD short @ 0.89104
Stop: 0.89450
Tagret area: 0.88313


Both are currently -18, -15
 

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Hey AspiringTrader, good going at the journal. A quick question, what is your time frame for trading? You have posted charts which are Daily, 4H and 1H. How do you make your decisions when to get in and out of the trade? How much to risk etc?
 
Hey AspiringTrader, good going at the journal. A quick question, what is your time frame for trading? You have posted charts which are Daily, 4H and 1H. How do you make your decisions when to get in and out of the trade? How much to risk etc?

Please take into account that these are my opinions, take it as you like.

Well i look at time frames from 1H, 4H 1D and even 1W.

Its good to have an entire view of what's happening and what has happened. For example, if you look on the weekly chart on EUR/USD and zoom out you will see massive triangle formation and that current price is sitting right on the resistance line from the previous two highs.

D1 gives action of the days performance and can be a indicator of a move especially with big pin bar reversals setups, engulfing bars etc on support and resistance lvls, i think it also gives greater weight to the likely hood of a move because it allows time for the market to digest things before closing of each candle assuming there's a setup.

I like to pick my short term setups on at least the 4H because it has been at least 4 hours in the making before i enter, just gives me a little more confidence and I'm less likely not to jump the gun too early and have the trade immediately reverse and stop me out then reversing back then hitting my target area. So basically it enforces patience which can produce better timed entries.

Though i sometimes use 1H for entry after i pick the setup. or if I'm looking for a continuation after a short pull back i will enter on 1H candles etc

So it all depends of the setup to what time frames i post, but i am always looking at all of them though my trading style remains the same, ie i usually only hold trades for intraday to week at most.. i like to play channels and breakouts

risk..2-3% per trade. always look for at least 1:1 risk vs reward etc..

How do i get in? well i always have my charts mapped out, i look for areas of interest, then a setup up, if price continues past my setup candle i will enter the trade, usually with at least some fundamental aspect behind it.

exits.. well I'm still refining that aspect, usually any support/resistance area i identify as a potential turning point, though some of may past few trades have not reflected that and i missed out on some profit.

its all a head game with exits which i need to work better with. Its easy to say, limit order and set and forget, but then to see price miss your target by a few points then stop you out.

Advice,

Always have a stop and stick to it when price is not in your favour, unless its moved some what in your favour and can move to break even.

enter on highest probability trades, ie areas of interest, set up in place and well timed entry with fundamental aspects giving extra weight to your decision

Look at all time frames, keep up to date with news and data releases

Come up with a trading plan for your own strategies, risk management etc.

Watch the charts as much as you can

read as much as you can about trading psychology and try and limit the emotional aspect.

Learn fundamentals and what impacts the market, learn as much as you can with techincals and combine the two.

Place stops well, ie above last high of the the area of interest, below the the last low etc.. gives the trade some space to move and if it does stop you out the trade will move against you thus it limits your loss while give the trade space to move before it hopefully goes in the direction you want it too. HOWEVER, you must ensure your r/r is at least one to one with your stop placement, if your stop is greater than your target, dont take the trade and definietley dont compromise your positioned stop just to bring your Risk/Reward to 1:1

Never stop learning!!!

Anyway, i still have a lot to learn myself.
Hope that helps

Once again, i am not proven succesful so take it with a grain of salt
 
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