Mine Journal

Discussion in 'Trading Journals' started by Decoherence, Jan 5, 2015.

  1. Decoherence

    Decoherence Well-Known Member

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    I'm almost embarrassed to post this because TBH not much thought went into it. I'm a complete noob and do *not* have a trading plan written out yet and probably won't for another 3-6 months. But I find play-trades has helped immensely, so here is one from today. Yes I'm weird, it's the USDCAD pair:
     

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  2. Decoherence

    Decoherence Well-Known Member

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    Any input is welcomed :D
     
  3. outthislife

    outthislife Well-Known Member

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    What made you choose to enter there?

    Your stop looks tight... it's kind of begging to be absorbed, IMO.
     
  4. Decoherence

    Decoherence Well-Known Member

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    I agree it's a bit tight, but I have a habit of going 1:1 on my SL/TP, trying to get into 1:2 or 1:3 at least. Plus I'm not super confident when it will break out of the current horizontal range that started rally up on Friday. I'm more confident it will swing back up to the top of the range at least.

    The USD rally is probably going to continue, possibly even pick up strength into 2015 from what I'm reading.

    - Dec 15th - new high to 1.672 from upward momentum, that start from started from a swing low on Nov 23rd

    - Consolidation from Dec 15th to Dec 31st, but long term momentum is still bullish

    - Swing lows during consolidation keep hitting 1.5710, which is in an H4 order block from Dec 14th, and close to the 62-79% retracement level, and as expected it bounces up on Jan 2nd

    - Strong upswing on Jan 2nd, followed by correction/consolidtation on Jan 5th

    - At 12:30pm Jan 5th (my time on the chart, not GMT) the uptrend goes into a horizontal range for a few hours, breaking the trend -- which is where you can see my most recent order block rectangle in the first image

    - I chose to start my fib at the institutional level of 1.72 as it was there that the upswing showed some resistance, even though the direction of the trend didn't change until 1.74 where I put my order block


    Because the new order block happened to land close to where the "sweet spots" would be on the fibo, and from the fundamentals I'm reading the strong upswing should continue well into 2015, possibly sending the USDCAD into the 1.20+ area.

    I'm currently trying to scalp a little from the horizontal range we are stuck in, also hoping it will break out to the upside like fundamentals are indicating it should.



    The image below will show what I'm talking about more long -term.
     

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  5. Decoherence

    Decoherence Well-Known Member

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    I have no idea why the MACD is still taking up space on my screen.

    *Deletes*
     
  6. joepippin

    joepippin Well-Known Member

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    Don't be embarrassed bud :) Keep posting trades.

    My advice is too look for trades in London or NewYork open.
    Look for deals in the market that offer more to you then you offer it :)

    Cheers,
     
  7. sqa

    sqa Village Scribe

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    Choose better graph colors. Make it easier on your eyes.

    Also, turn off the Volume bars. They don't relate functionally well off Retail Brokers.
     
  8. Decoherence

    Decoherence Well-Known Member

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    Thanks guys, much appreciated :)
     
  9. joepippin

    joepippin Well-Known Member

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    These are just my thoughts on the Usd/Cad.


    I try and keep my charts as simple to read as possible.
    To many lines becomes very distracting.


    Shall not be taken as trading advice. Trade with a demo. Risk is involved in trading.
     

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  10. Decoherence

    Decoherence Well-Known Member

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    No worries, I would never be a tard like that and blame someone else for my trade. Plus I'm on demos for another year minimum. I will tidy it up and adjust the color scheme next time.
     
  11. Decoherence

    Decoherence Well-Known Member

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    Well you were right. It moved up as predicted, but I got stopped out just before the upswing. It would have been a "successful" trade, if you can call a trade without a plan successful. Learning experience:)
     

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  12. outthislife

    outthislife Well-Known Member

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    Don't be so hard on yourself!

    Check it out, though: "I got stopped out just before the upswing" - that's what they do! FX markets are manipulated, they do take out stops, and that's why ICT recommends 30 pip stops with a 1-2% risk.
     
  13. Decoherence

    Decoherence Well-Known Member

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    [​IMG]


    What do you guys think of this? ???
     
  14. the golden gun

    the golden gun RINSE & REPEAT

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    the best that any trader can do, is to simply trade what they see.

    the fact that you have to ask if we see what you see is a bad sign, albeit understandable.

    if you don't trust yourself, still trade what you see, but with lower risk per idea.

    in the end you won't give a shit what we think :thumbsup: >:D
     
  15. Decoherence

    Decoherence Well-Known Member

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    ;D Well, it depends on whose replying. Just kidding I actually highly value any input given. I'll then decide if it makes sense to me or not. I'm certainly not a natural at this so maybe it is a bad sign and maybe ultimately I'm not cut out for this, but then again after 7 years of crashing and burning and debt, can you say you're a natural? >:D

    The earlier replies were all quite helpful and much appreciated.
     
  16. Decoherence

    Decoherence Well-Known Member

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    [​IMG]

    So it pierced the daily OB I marked. That's so cool.
     
  17. Decoherence

    Decoherence Well-Known Member

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    So when price reached for but failed to break through the daily -OB, I sold and made 20 pips. Even though I waited and planned this out ahead of time, I was still partly chasing price. I also only got 20 out of the 60-70 pips available. Taking partial profits and letting the rest ride can wait till later though, I think.


    [​IMG]
     
  18. Decoherence

    Decoherence Well-Known Member

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    Bagged my first ever 95 pip trade.. after a year of studying, goddamn does this feel good 8) ;D :D ;D 8) ;D

    [​IMG]
     
  19. outthislife

    outthislife Well-Known Member

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    :thumbsup:
     
  20. jack

    jack Administrator Staff Member

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    Nice :D Keep it up!
     

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