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Thread: WhiteForex price action journal

  1. #11
    080409 Wednesday
    afternoon of two consecutive triangles followed by powerful breakout.
    8 trades; 0; 0; 10; -10; 10; 10; 0; 2;
    tomorrow we can see evaluation of 1.59

  2. #12
    080410 Thursday; no trading;
    080411 Friday; no trading;
    Summary of the week
    15 transactions (-6):
    - 5 winners ( 34)
    - 6 be (0)
    - 4 Winners (-40)
    next week I will not be trading

  3. #13
    My adventure with FX started some 4 decades back. I was studying, demo trading, analyzing, hunting, etc... but I never exchanged real money for long enough to say I'm experienced trader. After loosing something such as 5% or 10 percent of initial account I just stopped trading. The stress and fear of loosing more than that was just unbearable.

    What I am presenting here is my third trial with live account. This account is funded with the money I was collecting for one year working hard in London as a barman and van driver. This makes my method of trading more serious than ever before I think.

    My main problem with real trading is and has at all times been stress and negative emotions associated with trading. My aim therefore is to find a means to eliminate stress during trading.

    After fourteen days of trading I must acknowledge that this experience again was very stressful for me especially during next week when I was scalping almost like a blind guy...

    Because of this I chose to take week of rest to unwind and make some corrections to my trading formula.

    According to theory I believe that devoid of stress trading = healthy money management clearly defined entry point clearly defined exit egy.

    So, how are these items looking like in my own situation?

    Money management: I'm not risking more than 3% of my account on one trade. 10 pips is 1% of capital and I am familiar with this.

    Definitely defined entry point: This is a problem in my situation because the machine I'm trading is very optional and nothing is clearly defined, but I would love to alter it, simplify the system and also help it become more mechanical. Also I would not like to open more than 3-4 trades daily

    I think that this really is the remedy.

    After specifying potential price movement predied on higher timeframes analysis I shall enter long at the close of 15min candle only if:
    1)osma gt;= 0
    2)tenkan sen gt;=kijun sen
    3)shut gt;= tenkan sen
    4)close gt;= ema55
    ideally price action should look like beginning of 3rd or 5th Elliot Wave

    This really is my most favourite sign. Trading it only will not give me more than 3-4 entry points a day (during which range day). Normally that signal seems once or twice every day.
    This sign of course must fulfill also one of the conditions described in article no1.

    So this will be my only entry point for next coupe of months - unless something extraordinary happens and I will be unable to keep my hand away from the mouse

    handling open trade -- this is my weakest point. I have serious issues with patience and stress while the trade is open and price is not moving as fast as I would like it to proceed in my own direction. I want to fix that problem.

    Right now I don't have any answer to this problem, but I strongly believe that in due course of time the answer will be reviled to me personally. I want just more real trading expertise.

    Whish me luck please

  4. #14
    today I made more than 10 trades (I did not plan to make over 3) and what is more important I did not feel worried at all during my trading hours. That's definitely something new...
    so far as tenkan kijun cross signs are worried I was entering exactly when I should.
    Just forth signal was a winner,
    It wasn't very profitable day for me but I rely enjoyed both loosing winners and trades.

    Tomorrow I will try to execute tenkan kijun cross signs on a separate oanda sub-account since this indies are most significant for me and I would like to definitely se how I'm handling those transactions.

  5. #15
    080422 Tuesday
    other obligations don't allow me to count my pips or maybe I'm too lazy or tired. Today again I had been making so many transactions...
    but it was fine winning day for me personally.
    I decided to make two changes with this diary entries
    1) instead of describing my entries I would like to concentrate on something that grabbed my attention every day.
    2) since tomorrow I will attempt to describe my outcomes in loss/profit percentage for daily instead of pips.

  6. #16
    080423 Wednesday
    daily result -4.81 percent
    total result -7.97 percent

    It had been quite difficult day for me personally. There was no even one trade that is winning.
    Loots of both BE and looser after looser. I finished my trading soon after US open
    The worst thing is I was speculating and I didn't follow the method. This was proper punishment.
    I hope I've learned something from this lesson.

  7. #17
    080424 Thursday
    daily result 1.78%
    total result -6.34 percent

    I did not trade much now
    My first entry was in the area indied on the chart but I was ceased (-20 pips). I jumped again short after Euro news and immediately collected some 50pips.
    Looks like I see my problem now
    I'm tightening my initial stop loss 30pips to quickly and I am actually ceased. Yesterday at least two potential winners were ceased -20pips and I did not reenter.

    You will find two possible solutions to this issue comming to my head...
    1) push myself to not move cease for at least 30min (two 15 min candles)
    2) put buy/sell order 10 pips greater (for short) or lower entry sign.

    Anyhow I have to do some research...

  8. #18
    080425 Friday
    daily outcome 0.58%
    total outcome -5.79 percent

    there was just one main short trade marked on the chart.
    I did not move initial SL until price moved 30 pips in my leadership and reached significant support level. And because of this I didn't loose that is my main success today
    I then shielded 25% of my profit and got ceased. Then price moved south but I was not in. I jumped once or twice but it was not exactly the same as one appropriate entrance and logically monitoring the stop.

    Another thing to double check - what's more profitable: protecting some profits (25%) when price reaches significant support/resistance levels or simply staying at BE regardless of what?

  9. #19
    080501 Thursday
    daily outcome 7.53%
    total outcome 1.31%

    I made just one trade which gave me 160pips
    The outcome is nice but I entered litlle bit too premature and exit was manual (not by kijun monitoring stop).
    So much it my very best trade as well as the longest one (8 hours).
    Money management restriction:
    Until my total result will probably be 5 percent I will keep on risking no more than 1.5 percent on a single trade.

  10. #20
    080507 Wednesday
    daily result: -1.03%
    total result: 0.26%
    it had been nice trending day. System nevertheless gave me just one clear signal and I had been stopped. Everything was correct.

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