Damon's Trading Journal

Discussion in 'Trading Journals' started by Damon, Sep 10, 2013.

  1. Damon

    Damon Member

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    Jul 18, 2013
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    I am going to start a trading journal also. It will keep me honest with myself and a good reference to analyze my trades. I am looking for 50 plus pip setups. Preferably a swing trade. I do not trade everyday and risk but .5-1% per trade. I am though looking at the market most days.
     
  2. Damon

    Damon Member

    Joined:
    Jul 18, 2013
    Messages:
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    Todays trade
    The reason for taking the trade was the gap open on Sunday of over 100 pips. It is a very inefficient move and continued to climb looking for Thursdays highs of the previous week. So, I set my order to take me into the market above those highs. With the though of the market sweeping the highs for a move down. Or a Turtle soup sell coined by ICT.With such a large inefficient move we can hope to see a good bounce down or setup for a continuation down.

    GBP/JPY
    Stop loss 20 pips
    Target 129 pips
    1/2 off at 80 pips
    moved stop loss +50
    went to sleep after
    I am going to have to figure out how to post pictures
    http://screencast.com/t/UmYzcEGhuK
     
  3. jack

    jack Administrator Staff Member

    Joined:
    Mar 29, 2013
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    Awesome :)

    Images can be posted as detailed here: http://fxgears.com/forum/index.php/topic,29.0.html

    Keep in mind, it's not just about your trade stats, but the thoughts/observations that lead you to take/search out a given setup.

    Good luck and happy journaling.

    :)
     
  4. Damon

    Damon Member

    Joined:
    Jul 18, 2013
    Messages:
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    USD/CAD

    I placed this trade with the fundamentals of the Canadian dollar weakening. Having a pullback into the 70% retracement of the low on 7/31 to the high of 8/22-23. Risk is 1 % and will try to have a position trade with the idea of continued weakness of the CAD.

    Tapped out as all know how USD has played out. Back to the drawing board.
     

    Attached Files:

  5. jack

    jack Administrator Staff Member

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    Looks good, but since you're fighting the recent trend, keep that stop hard.

    USDCAD might even punch a little higher than that if we get a clean change in trend. I'm not saying to change your trade at all, but have you ever though of taking the majority of a given trade off the table and hold onto a small bit to see how far she runs?

    --

    PS. one more post and you'll be able to post without moderation (5).
     
  6. shopster

    shopster Well-Known Member

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    Jun 17, 2013
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    short bounce reversal.

    s
     

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  7. Piper

    Piper Guest

    Neat chart's :)
     
  8. shopster

    shopster Well-Known Member

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    it holds water at 101.

    s
     

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  9. jack

    jack Administrator Staff Member

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    Remind me what MA period that line is? :p

    On a fundamental note: I always want the loonie above parity, not just for our (Canadian) economy and exports benefiting, but because most of my accounts are settled in USD.. lol
     

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