View Full Version : GulfCoastPips Trade Journal
Updated: 3.31.2008
following a few months of demo trading, opening up two live accounts, and developing my own little system I am pretty familiar with my trading style. Here I will discuss some of my transactions as I take them. I don't advise you to take them without you performing your own due diligence however. I am not a guru and do not claim to be one either.
For the most part I am trading on the 1 hour and 4 hour charts. My preferred pairs on GJ and EJ. However my system will work with any pair. I may hold a position anywhere from a few minutes to 1-4 days.
My transactions start at post 28, to see them click here.
At this time I do not intend on sharing my system. My advice is to create your own system, play with it on demo, tweak it on a small live account, examine and retest.
Hey GulfCoast, welcome on board.
Good luck with your trading, and I look forward to your journal.
Entry #3 - Today's the start of the Piptopia Live Contest
Well, today's the start of the Piptopia Live Contest. Looks like quite a turn out! For additional information https://fx2.oanda.com/mod_perl/fxcontest/fxcontest.pl?rm=contestDetailscontestId=495.
Will I win the competition? lol. I seriously doubt it, but how will I do than the others. I'm guessing that I will do better and worse than alot.
The system that I've developed with the help of the many free systems available here and elsewhere appears to be functioning fine. I need to learn trust the system and how to follow my principles. It reminds me of the very first time I bought a GPS unit. I still got lost! I didn't expect the device and thought I knew where I was going! It took me a good 6 weeks to learn how to trust the GPS unit. I imagine that it will take me awhile to trust my trading system also.
Entry #4 - Contest Standings After The First Day
Well, after the initial day of the https://fx2.oanda.com/mod_perl/fxcontest/fxcontest.pl?rm=contestDetailscontestId=495 the results come up, and as I expected I did better than some and worse than alot. I went on a single trade when I should have went short, rather than getting out of the trade I guessed it flip around. . .it still hasn't. My sign was to go short too!
However, as I expected I'd better than some and worse than alot. It will be interesting to see how this all pans out in the long run.
Here's a couple of pictures of the top runners and another of these playing ch up.
https://forexintuitive.com/attachments/15286694371622789501.jpg
https://forexintuitive.com/attachments/1528669439951643139.jpg
Entrance #5 - This week I plan on adding my trades into my journal
I'm feeling confident enough in my system which....
This week I plan on adding my trades to my journal. This will not be some kind of recommendation for others to follow however! By no means do I recommend anyone follow my trades (not in a demo accounts)! It will let me track my progress a little though.
I'll attempt to add my trades as close to real time as you can. We'll see how this pans out.
Entrance #5 - This week I plan on incorporating my transactions to my journal
I am feeling confident enough in my own system that....
This week I plan on incorporating my transactions to my diary. This will not be some sort of recommendation for others to follow though! By no means can I urge anyone follow my transactions (not even in a demo accounts)! It will let me monitor my progress a little though.
I'll try and put in my transactions as near real time as possible. We'll see how this pans out.
https://forexintuitive.com/attachments/1528669412.png
Entrance #6 - Here's a Couple of trades I Only closed out
2008.02.01 20:19 Long USD/CHF 1.0846 2008.02.01 20:34 1.0849 = 3 pips
2008.02.01 17:47 Long GBP/USD 1.9726 2008.02.04 10:25 1.9752 26 pips
2008.02.04 03:30 Long GBP/JPY 210.27 2008.02.04 10:25 210.92 65 pips
Entry #7 - Trade I just closed out
2008.02.04 14:31 Long GBP/USD 1.9766 / 2008.02.04.14:48 1.9770 4 pips
No losing transactions yet today. https://forexintuitive.com/attachments/1528669412.png
Entrance #8 - Just closed EUR/USD for a few pips
2008.02.04 15:11 Long EUR/USD 1.4833 / 2008.02.04 18:56 1.4839 6 pips
Entry #9 - Another EUR/USD exchange closed for a few pips
2008.02.04 19:36 Long EUR/USD 1.4833 / 2008.02.04 19:47 1.4835 2 pips
-------------------------------------
Update: had two losses to the day for a total of -26 pips. Why did this occur? Because I had been to eager to exchange and jumped at the center of two ongoing trades! Never jump in the center of a trade! Wait for the next trade! As I've read 100 times on this forum. . .don't pursue the market, let the market come to you!
Entry #10 - The Newest results from the Piptopia Live Contest
Well, the latest results from the Piptopia Live Contest Have Been in. The field has shifted quite dramatically since the last update! Check out the pictures below. The first picture show those in the guide, the second picture shows those playing ch up.
The contest originally started with 153 traders. Right now I'm in the top 25.
https://forexintuitive.com/attachments/1528669442818557149.jpg
https://forexintuitive.com/attachments/15286694451667066050.jpg
Entry #11 - Up 27 pips so far.
Note to self: so far now you're up 27 pips. Just enter transactions that you're sure about. Use the 1 hour chart, the 1 hour is a bit slow, but the pips are constant.
Right now I'm watching EUR/USD, USD/JPY, GBP/CHF, USD/CHF, and GBP/JPY. I might watch a few more pairs to find out if anything opens up to where I can enter a trade.
Now's FAT TUESDAY about the Gulf Coast (Mardis Gras)!
Entry #12 - Brief USD/CHF @ 1.0996
Only saw an opening to go short on USD/CHF @ 1.0996. I'll take this to get a 20 pip ride. Stay tuned.
Update: This is a slow moving commerce, was hoping to get a wonderful retracement because I missed the earlier ride up. Finally, got out of the trade for 2 pips. By the way for the upcoming few hours it looks short (according to me anyway) https://forexintuitive.com/attachments/1528669416.jpg
Entry #13 - Piptopia Live Contest Update
appears like a couple of traders slid facing me in the Piptopia Live contest, right now I am sitting at #32. Expecting to move into the top 20. There's still alot of month left though, it is still up for grabs!
For today I am up about 40 pips. Might lose a few of them in my current trade! We are going to see.
Update: shut that commerce out on GBP/JPY to get a 4 pip profit.
Entry #14 - The Hottest Piptopia Live Contest Results
Well, here's the Hottest Piptopia Live contest results. At this time I'm sitting at #34 with a .76% return. Hoping to move into the top 20 within the next few days after which the top 10. Click on the image to see a bigger view.
Following the first day of the competition I was -.63, the following upgrade I was .67 and now I'm at .76% return.
https://forexintuitive.com/attachments/15286694481658032614.jpg
Entry #15 - Can Not Wait To escape This Trade
Everything was going great today, then I entered a more transaction GBP/CHF. Well it started out fine, not it seems terrible. I can't wait until I could safely escape from the trade. . .hopefully I really don't lose all the pips that I obtained for the afternoon though!
Just an additional transaction, only one more transaction....shut the f%#$^@n computer down and do something else. . .forget that an additional transaction! If I don't lose my shirt with this trade I'll be amazed!
What' sucks is that at one time I could've exited the trade with PIPS! Hoping I could still exit with PIPS! Even 1 PIP, that is all that I need, heck Break will do the job for me too!
I'll update this post with the results! Stay tuned. At this time I am -25 pips on this particular trade. . .up around 100 for the afternoon though!
Entry #16 - Piptopia Live Contest Update For February 9th, 2008
As you can see from the pictures under this contest is still wide open. I'm slowly creeping my way up the leader board with .81%. I'm moving in the right direction....but will it be quick enough to take over the leader board?
I'm a total newb and a few of these are professional day traders that truly make a living from trading. Although I'm not there yet. . .one day I would really like to become a professional day trader! That is my goal and everything I do. . .takes me one step nearer. If I could make my way to the top 10 I would be happy.
Here's the latest results. My results are high lighted. The first image shows the leaders, the second image displays those in the middle of the pack, and the third image indies those playing ch up.
https://forexintuitive.com/attachments/152866945269608608.jpg
https://forexintuitive.com/attachments/1528669456475606795.jpg
https://forexintuitive.com/attachments/15286694591290281433.jpg
Entry #17 - An update for now
Today has been a pretty good trading day for me personally. Here's some of the transactions that I took:
2008.02.11 07:10 Short USD/JPY 107.18 / 2008.02.11 106.71 47 pips
2008.02.11 09:49 Short GBP/USD 1.9434 / 2008.02.11 10:09 1.9408 26 pips
2008.02.11 20:26 Short GBP/JPY 208.20 / 2008.02.11 20:52 208.35 15 pips
Overall I'm happy with my trading day, finished somewhere near 100 pips to this good!
Now we'll see if today was good enough to move me in the top 20 on the Piptopia Live Contest. The update will be submitted at 0000 GMT.
Entry #18 - Latest Piptopia Contest Results
Well, I still haven't moved into the top 20, but I am sitting in a 1.20% yield so far. Not bad for a newb. The month is still young though and I still have plans on moving into the top 20 and eventually the top 10.
Here's the latest results. The first image reveals the leaders, that the second image shows those from the middle, and the third image shows those playing chup. By the way, the title in the image is yours. https://forexintuitive.com/attachments/1528669423.jpg
https://forexintuitive.com/attachments/15286694611979916345.jpg
https://forexintuitive.com/attachments/1528669465142779446.jpg
https://forexintuitive.com/attachments/1528669468998197809.jpg
Entry #19 - Missed a fantastic signal on GBP/JPY
Missed a fantastic signal on GBP/JPY now at 11:30. It's up over 250 pips right now!
There's other chances though!
Entrance #20 - Just an upgrade
https://forexintuitive.com/attachments/1531687932185065501.jpg
Entry #21 - Today Is The Day That I Drop All Indiors And...
Today is the day I drop the use of indiors and use no less than a 30m period frame. I'll use the 30m, 1hr, 1 day and 4 day time frames. From what I have been reading it seems that many successful traders use the greater time frames. . .notice I did not say all, but many.
It's my wish to be a successful full-time trader. I'm around 150 pips so far for the day. I do not plan on leaving any trades now.
I'll keep this journal updated with my progress.
Entry #22 - And Here Is the Hottest Piptopia Live Contest Outcomes for Feb. 16, 2008
Wow! Some of those traders really impress me! You'll see the first highlighted group all has more than a 5% return! That's pretty impressive! Further down you will notice my 1.31% return! lol
fx1618 is on fire! Everyone can still win this contest though, even fx1618 was near the floor during the onset of the contest using a (-) negative return! Now he's on top of the leader board!
My gains are fairly consistent, without requiring a great deal of risk. I can now see to acquire this contest. . .you're gonna have to wager the farm every now and then! Heck, even to enter the top 10 you're gonna have to take quite a lot of risks!
Like I said, overall I am satisfied with my results! I am a total newb and have been demo trading for about a month now. I finally have my system set up and feel confident with it. We are going to see how ballsy I will get now for the contest https://forexintuitive.com/attachments/1531687920.jpg
https://forexintuitive.com/attachments/1531687934667708844.jpg
https://forexintuitive.com/attachments/1531687937285467983.jpg
https://forexintuitive.com/attachments/1531687939201790529.jpg
Entry #23 - Piptopia Live Contest (It's Almost Over)
Here's the latest Effects on the Piptopia Live Contest. Returns for your leaders! With just a couple of days ago, it does not appear that I'll make the top 10. . .perhaps the top 20. We'll see. https://forexintuitive.com/attachments/1531687924.jpg
https://forexintuitive.com/attachments/15316879421054713953.jpg
Entry #24 - Piptopia Live Contest For February
Well, the past couple of days I decided to make it to the very top or dismiss it trying. Needless to say I didn't finish at the top. It was all fun though.
I have been utilizing the Windsor Direct MT4 demo platform for about a week now. Nearly everytime I put an order...I get requoted. . .not once, but sometimes four or five occasions! It is almost funny, except for I know that there are people experiencing this with a live account. Absolutely crazy!
Though I haven't traded my live accounts yet...I'm grateful that I opened an account with OandA and yet another with MBT.
Short on EJ in 157.33 date: 3.31.2008 22:06
update: shut for 14 pips.
Time to start the grill and eat dinner. Got tired of waiting for it to proceed, low volatility. https://forexintuitive.com/attachments/1531687926.png
Short EU in 1.5773.
Closed for 7 pips. Glad to be from that commerce. This was slow moving!
Short EU 1.5749 - I am jumping back into this commerce now https://forexintuitive.com/attachments/1531687926.png
Closed to get a 10 pip profit!
Short GJ at 197.51
Closed for 18 pips profit!
Short GJ in 197.41
Closed for 31 pips!
Short EU out of 1.5687
Closed 50 pips!
LMAO. I was in a one of the OandA competitions for this month and forgot I had some trades moving, been trading my live account. Needless to say those trades flipped around on me. LOL. I did not neglect to take the profit in my actual account.
LMAO. I was in one of those OandA contests for this month and I had some trades moving, been trading my live account. Obviously those trades turned around on me. LOL. I didn't forget to take the profit within my real account. Good Job Mate,
Glad to see you. . .winning https://forexintuitive.com/attachments/1531687926.png Hope you are well.
'R you @ http://www.trading-challenge.com/en/index.html ??
Cheers
Closed UJ in 103.38 to get 28 pips.
CLOSE EUR/CAD @ 1.5784 16 pips.
I was planning to let this run a bit more, but I'm tired of trading for the day. So I'm done for the day.
I have not been keeping this journal up to date, but within the upcoming few days I will decide whether or not I'll keep this same thread updated with live transactions or if I will start a different thread. I'm thinking. . .that I will start a different thread. I will always include at the name of the thread so if you're interested within my calls you may search for that.
As always....do your own due diligence before taking my trade calls though. Although I have spent a lot of time studying how and when to exchange...I'm still a total noob. I really do believe that I'm in the top 5%!
For anyone that cares...I will post to my diary here sometimes, but I will post on Twitter most of the time. I will not post the link, but I use the identical username -
I will still frequent these forums as I've always done....errrr for hours on end. lol.
Entry #2
It appears that many noobs in the Forex world over transaction. I've caught myself doing so on a regular basis. Get your pips and cease for the day! Reduce your 1 or 2%... stop daily!
Over trading will kill your account and your dre of becoming a professional FX trader. Be patient.
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