Forex Rookies Trading Journal
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Thread: Forex Rookies Trading Journal

  1. #1
    So it begins...

    Primarily, I'd like to start with an introduction. I have been trading for two and a half a year now, largely on demo. I trade off the 1 hour chart and just GBP/USD since its the only pair I have exchanged from day one!

    Secondly, I'll do a few daily analysis, which I trust will help other traders in their monitoring and analysis. And I will have to learn on how to post charts! I hope this could be of use to any new traders and perhaps a few more seasoned one's also.

    Thirdly, I'll be keeping it simple by using very little technical indiors. I think that too many indiors will just have a representation of the past data and not so far on the long run. For the current, I use price action to speculate on future price moves. I trade on most days when significant news will be anticipated for release.

    Any comments or suggestions are valued

    Lastly, and more importantly; transaction at your own risk.

    Joyful Trading

  2. #2

    Short @ 1.51002

    Stop Loss @ 1.51402
    Take Profit @ 1.49802

    Profit/Loss = 120 pips

  3. #3
    GBP/USD Pending order

    Extended @ 1.4830

    Quit Loss @ 1.4790
    Take Profit @ 1.4960

    Profit/Loss = 5 pips

  4. #4
    Daily Analysis

    GBP/USD currently sitting just above a major trendline, for now I think it will be which range from the lead up to the London Session prior to giving any kind of direction.

    Longer term trend remains bearish. Trading below daily pivot point of 1.4900.

  5. #5
    Complete Loss Now = #9.91

    GBP/JPY Long Positions x2
    GBP/USD Long Position x1

  6. #6
    Daily Pivot Point @ 1.460; which may also be a favorable indiion of a retracement at this degree.

    Currently trading below pivot point and over daily support area.

  7. #7
    Are you currently trading reside?

  8. #8
    Quote Originally Posted by ;
    Are you trading live?
    Yeah I'm, all the trades listed are live trades I've taken.

  9. #9
    No trades were made now as GBP/USD was ranging for most of the afternoon and missed out on the spike round the news period, besides the bears were quick to respond and deliver price down.

    I'll be trading on EUR/USD starting from tomorrow.

  10. #10
    Following Wednesday ranging trading I think there will be a clearer direction today. In my honest opinion, I think we are taking a look at a break of the trendline currently at 1.4490 and heading farther south towards 1.43xx.

    ECB will soon be deciding on interest rates today that ought to ignite a rally, if there is an interest rate decrease. Expectations are a 50 bp cut, release at 12:45 GMT.

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