Trini trader keeps a journal

[Shikamaroo]

This journal is going to record my insane taughts before during and after trades as i attempt to make a living trading with no experience whatsoever. I started trading 6 months ago and decided to use my savings to survive the next 6 months trading full time. (Yup only a trini could believe this sure to work!) I tried keeping journals before with no success and hope that an online journal will be different and i may be able to make a friend who likes trading like me. My system is based on high low swings (1 min, yes i've heard, suicide,) and a 21 EMA. Wish me luck!!

 

[Shikamaroo]

no more trades in the demo from now! they go well and my real account goes in reverse. If only i could turn that around I would be a good trader.

1st trade sucked! in retrospect I should have stuck with the initial signal instead of turning around for a small loss (became 2 small loses) and i could have just barely been in profit. ah foooey

 

[Shikamaroo]

ok just took an entry GBP- JPY and unfortunately got in 9 pips too late. looking out for 30 pips profit since there is an FA in the next 15 min on the EUR. At least the trade is currently profitable.

 

[Shikamaroo]

ok the original profit target has been hit and i'm going to ride the trade a bit till the FA. Too bad i am not doing this with 2 lots i could have booked some profits. crap that was a mistake

 

[Shikamaroo]

ok closed the trade for quick 40 pips profit and the market is dropping without me. at least it's not as bad as yesterday

 

[Shikamaroo]

ok new entry sell, but this one is unfortunately going in the wrong direction. i am beginning to wonder if i should have waited for a break of the old low.

 

[Shikamaroo]

why why why? 30 pip loss

 

[Shikamaroo]

ok just entered and exited the trade was too scared to joke or write.
i entered at 152.07 and it dropped a quick 30 pips yay and boo, then it stoped, I was on the board for 45 but had to give back 15 as the market retraced past the last high that touched the 21 ema.
well 30 pip profit. hope my next entry is just as or kinder :|

 

[Shikamaroo]

hmmmmm i wonder what would be a good filter for my system?
thinking about either envelopes or ADX

 

[Shikamaroo]

stupesssssssssss. ok another loss and in less than 5 min. not right

 

[Shikamaroo]

i just decided not to take a setup. again! the last one went for 60 pips i hope this dosent shift the probability to far away from me cause i do get a lot of duds and wasn't trading when the market went 400 pips earlier

 

[Shikamaroo]

the bugger is going! why am i outside again?

 

[Shikamaroo]

the thing gone 50 pips without me so far. why the hell i didn't take it. and i hadda make up for that loss from yesterday not following my system. if this was my demo was money in the bag cause is free trade territory. i hope next week is better although it probably wont have such great moves

 

[Shikamaroo]

ok now i dont even think i have what it takes, that trade, without giving an exit signal is now up 127 pips. how? why? it a'int fair! well at least there was an FA today during this session so i should have been out but that is seriously not right. well i'm off to read think and grow rich my motivational mentor for these trying times. I doh know how ppl does say they rather be out wishing they were in than in wishing they were out. what might have been hurts more! i could have lost 30 pips but i could have gained 100+. this is a terrible business

 

[pedro01]

 

[mb325]

Hi Shikamaroo, just a bit of advice concerning your journal.

If you want to 'make a friend' to help you I'd suggest first of all writing out your strategy/trading plan completely so people can understand what you're trying to do.

Secondly, include more detail in your posts. Read back through your posts and ask yourself if it's really clear to the reader whats going on. A good place to start in this respect is to include a screenshot of your chart, an arrow for where you entered and exited, your risk:reward, reasoning etc. Even if no-one comes forward to help, you will find this beneficial yourself at some point in the future.

All IMO good luck!

 

[Shikamaroo]

ok this is quickly becoming an exercise in taking losses and watching perfectly good setups go. hopefully this plan will catch a few good ones but today i took 2 trades

1) retraced immediately after entry making a new high but not taking out my 30 pip sl. i eventually got out at BE but didn't take the connecting trade and missed a profit opportunity. While paper trading the risk of loss to be seemed good but now not so much since i didnt take the connecting trade which would have given a small profit.

2) the second bad trade for the day. went up quickly to be after entry and then stopped. while trending before the entry point it did the same thing but i assumed that that was because of the old high it was going to cross. after a few min pause it came down past the last low and then paused before hitting my stop loss

at least i noticed the pause before my entry which occurred on both of them which i never noticed before. hope it was nothing. well i'm off to backtest and review trades taken and missed since that's 2 duds and an overall loss.

 

[Shikamaroo]

thanks mb 325

my strategy relies on bounces off a 21 EMA when it is outside a 50 envelope on the 15 min chart. once i see that i zoom in to 1 min to see that the high or low that was made has also bounced off of the 21 EMA or is about to and scalp an entry off of that. I ride the trade as long as it keeps bouncing off the 21 EMA and definitely exit if there is a full open and close in the envelope. I do this on the GBP/JPY since it creates very large sustained moves that can keep you in sometimes for a good ride

 

[Shikamaroo]

 

[Shikamaroo]