Amateur Traders Journal

[AmateurTradersOnline]

Thought i would post my journal, I usually write down the moves I make anyway so might as well chuck it up Any thoughts or comments are always much appreciated. So please do read……


EUR/JPY

Its about 09:24 London time and I’m looking at a cheeky long on Eur/Jpy.I don’t use any overly complicated strategies just very basic trades based almost purely on price action. Take direction from the 4H chart, which from about the 6th has been making Higher Highs (HH) Higher lows (HL) which we all know is an uptrend. Price now from my view retraced over a few days as it corrected and Im now looking for a long with the continuation of the uptrend.

If price makes a new high then that’s confirmation enough for me so I am looking to take a long position at 132.95. If price retraces to make a Lower Low in this case past 132.63 this will void the trade at present.

 

[AmateurTradersOnline]

Long triggerd at 09:56

 

[AmateurTradersOnline]

Also looking at shorting USD/CHF will give reasons why in a sec just its all happened at once and i want to prove im taking these positions at the times i say.

 

[AmateurTradersOnline]

Oook short on USD/CHF went in at 1.0175 at 10:08

 

[AmateurTradersOnline]

Ok, Eur/Jpy long triggered and then tanked, however stop is @ 132.59 so we are still in the trade. Even if price is falling and you get the horrible feeling that you’re losing money STICK TO THE PLAN.

The USD/CHF trade was taken as price on the 4H had its nose firmly down and the 60Min chart also agreed. Took a short on a break to a new low on a 15min timeframe. Stop goes past the previous swing high so if price makes a HH then we know the downtrend is not going to continue at this point. So Stop for USD/CHF is at 1.0195

 

[AmateurTradersOnline]

Eur/jpy Target 1 hit of 20 pips (half my stop loss size rounded up) half size taken off and stop now moved to Entry time was around the 11:22 mark. Trade is now made a guaranteed small profit with still half running. Second target is at 133.51 where the trade will be closed out if we reach it. This gives a 1.5:1 risk reward (I feel this should be higher) but ill take it.

USD/CHF short still running.

 

[AmateurTradersOnline]

Stop moved on USD/CHF to 1.0190. Even though price hasn't moved in my favor it has made a lower swing high. So once again if price retraces above this to form a Higher High then i would take it that the downtrend will not continue at this point. Time was around 11:40

 

[AmateurTradersOnline]

EUR/JPY cam within a point of getting stopped out and then made nice move up. Second target was hit at 133.51 banking a total of 56 pips on the trade, at 12:17 :clap:

 

[AmateurTradersOnline]

USD/CHF stopped out for an 18 pip loss at 12:29, o well happens cant be right all the time. Leaves me going into lunch with a 38 pip gain.