Wasabi Journal

rsd886647

Active member
205 2
I'd like this journal to be hot as wasabi. The reality is it will probably disappear with a gulp of cold water. I've tried to write journals before, but never kept them up. I hope it's different this time. I simply want to record my trades and show the justification for them in a bid to limit the number I am taking. The purpose of this is to make me accountable.

I have learned everything I know from my mentor so I can't divulge much if anything of it, but I will say that my plan is quite simple:

I trade with the daily trend (measured over the last four-six months)
I wait for a pullback in price.
I take certain signals including pin bars.
I make sure there is ample reward.

I will post images where possible.

I have taken a short today on AUDNZD. Screenshot below:



There is a monthly pin bar which may suggest a bottom to the market, which is a worry, but I am trading in line with daily trend.

Comments welcome. Thanks.
 

rsd886647

Active member
205 2
On a side note, I've recently decided to do retracement/limit entries in the main rather than buy or sell on stop. I was always concerned with missing trades, but I now realize you catch most of them even with retracement entries. It is obviously easier to make multiple times your risk in reward if you keep risk small. I expect it won't be an easy transition to make but I'm going to give it a go.
 

rsd886647

Active member
205 2
I've gone long on gold today from 1346. It meets my plan, recent uptrend, slight pullback, pin signal at value, potential reward is at least four times risk. I chose not to go with a retracement entry here as I felt I needed extra confirmation of the signal.

 
Last edited:

rsd886647

Active member
205 2
Update:



Total profit/loss = +2R (R = 1 x amount risked)
 

rsd886647

Active member
205 2
Update on Eurjpy:

Breaking into profit...

 

rsd886647

Active member
205 2
Well, things were looking very promising at one point today, but ended up in disappointment. Eurjpy was a -1R trade. Gbpusd was out at breakeven. Audusd I took some profit. Gold is running still.

Overall profit/loss = +1.5R
 

rsd886647

Active member
205 2
I've re-entered gbpusd. I messed about with the pin trade from the other day and exited at breakeven, but I want to buy and got in at the same price again.

 

rsd886647

Active member
205 2
I've just shorted WTI crude oil from 97.70. Big down move today, expecting more. Will possibly get some retracement first. Still long on gold, stop 1344. Bit of a correction today, hopefully the uptrend resumes before my (breakeven) stop is hit. Gbpusd hasn't done much today, but still my bias is bullish.
 
 
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