peipipkl
01-15-2008, 12:55 AM
Hello Everybody,
I'm new to Currency Market and in this diary I will be posting my reasoning and my transactions as I trade. I have paper traded since September.
I had been released by a roomate and started with Jim's price action thread and read a few threads between and because, back in August. The 4-hour tubing method was pointed out to me so I embraced that. I recently opened an Oanda account in order to find up to as I could about real trading using just a $100 account. I will be posting my predictions and collecting knowledge and feedback on this diary. In Journal #2 I will keep just my transactions, a running profit/loss complete, double check my cash management and purely crunch numbers and examine my decisions after the trade is made.
So, here goes (these notes are from 1/10 before entering any transactions, but because Forex mill would not allow me to post a diary until now they were forecasts once I placed the limitation trades and stored the images ). I've picked up bits of knowledge from articles, my roomate, and arbitrary sources, so don't hesitate to ask questions of my notes aren't apparent. Also a big hello to anyone that stops by, I've read a combined pages on different journals and I expect to meet many of you over time.
As of 1/10/07:
I really don't really understand how to place the image in a readable format- I've uploaded them . In time this will improve.
USD/CHF
(Weekly)The Weekly trend was definitely down.
(Daily) The dual high-low close pub suggested that it was going down.
(4 Hour) The three bearish (down? I get them phrases mixed up) bars at the chart suggested a tendency continuation, and the consolidated bearish inside bars suggested a possible breakout to me.
(1 Hour) I saw a possible pin bar (not really at a swing stage, but still a snare ) and either didn't find decent confluence with Fib's or did not try.
Entry: 1.09859 (under the lowest low of the previous week)
Take Profit: 1.08950 (initial tube entry/exit point)
Stop Loss: 1.10600 (Resistance support each the 4 Hour)
Outcome: Profit
The attached image of my Oanda trade shows this trade was successful. Actually it was over before I managed to test on it the next morning. Had that not happened I would have transferred the stop/loss and take profit up (and maybe been profitable). For an specific running count see Journal #2.
EUR/USD
(Weekly/Monthly)The trend was definitely up. The weekly had a trap bar that seemed strong to me, and looking back on my image it seems like it poked through the 60 percent fib retrace on the weekly.
(Daily) The dual non high close bounced off the 50% fib retracement. Both suggested strongly to me it had been going up, but it had to break the resistance I saw in 1.4815 that was a service.
(4 Hour) The 4 Hour did not show any decisive price action, but it seemed to me like there was a resistance in 1.4815 (mentioned previously). Because of this set an entry stage at 1.4545 which would be near the first Tunnel 4h entry/exit point.
Entry: 1.4845 well over possible fake breakouts drawdowns
Take Profit: 1.4955
Stop Loss: 1.4765
Outcome: Partial Profit
The limit order was placed on 10/13. After checking with this order this morning that the words do not let a winner turned into a loser repeat would in my head over and over. My current major focus for improvement is knowing when to enter/exit and knowing when to make profit (I tend to accept it too early or to late). So I transferred the stop/loss till some guarenteed 25 pips profit on this one (got stopped out), but I am thinking about re-entering this trade.
It is late and I need to prepare for working in the daytime of course, but I will update this weekly and possibly daily. My Journal #2 must be up tommorrow based on my female committments. These are the only trades placed because 1/10/8 and I will make certain to incorporate every trade, therefore I receive an accurate image overall. Finally, not all images can be uploaded... I will have to post the remainder on the next post.
-Cheers
https://www.forexsoutheast.asia/attachments/152814411786880811.jpg
https://www.forexsoutheast.asia/attachments/15281441182050056363.jpg
https://www.forexsoutheast.asia/attachments/15281441201394836029.jpg
I'm new to Currency Market and in this diary I will be posting my reasoning and my transactions as I trade. I have paper traded since September.
I had been released by a roomate and started with Jim's price action thread and read a few threads between and because, back in August. The 4-hour tubing method was pointed out to me so I embraced that. I recently opened an Oanda account in order to find up to as I could about real trading using just a $100 account. I will be posting my predictions and collecting knowledge and feedback on this diary. In Journal #2 I will keep just my transactions, a running profit/loss complete, double check my cash management and purely crunch numbers and examine my decisions after the trade is made.
So, here goes (these notes are from 1/10 before entering any transactions, but because Forex mill would not allow me to post a diary until now they were forecasts once I placed the limitation trades and stored the images ). I've picked up bits of knowledge from articles, my roomate, and arbitrary sources, so don't hesitate to ask questions of my notes aren't apparent. Also a big hello to anyone that stops by, I've read a combined pages on different journals and I expect to meet many of you over time.
As of 1/10/07:
I really don't really understand how to place the image in a readable format- I've uploaded them . In time this will improve.
USD/CHF
(Weekly)The Weekly trend was definitely down.
(Daily) The dual high-low close pub suggested that it was going down.
(4 Hour) The three bearish (down? I get them phrases mixed up) bars at the chart suggested a tendency continuation, and the consolidated bearish inside bars suggested a possible breakout to me.
(1 Hour) I saw a possible pin bar (not really at a swing stage, but still a snare ) and either didn't find decent confluence with Fib's or did not try.
Entry: 1.09859 (under the lowest low of the previous week)
Take Profit: 1.08950 (initial tube entry/exit point)
Stop Loss: 1.10600 (Resistance support each the 4 Hour)
Outcome: Profit
The attached image of my Oanda trade shows this trade was successful. Actually it was over before I managed to test on it the next morning. Had that not happened I would have transferred the stop/loss and take profit up (and maybe been profitable). For an specific running count see Journal #2.
EUR/USD
(Weekly/Monthly)The trend was definitely up. The weekly had a trap bar that seemed strong to me, and looking back on my image it seems like it poked through the 60 percent fib retrace on the weekly.
(Daily) The dual non high close bounced off the 50% fib retracement. Both suggested strongly to me it had been going up, but it had to break the resistance I saw in 1.4815 that was a service.
(4 Hour) The 4 Hour did not show any decisive price action, but it seemed to me like there was a resistance in 1.4815 (mentioned previously). Because of this set an entry stage at 1.4545 which would be near the first Tunnel 4h entry/exit point.
Entry: 1.4845 well over possible fake breakouts drawdowns
Take Profit: 1.4955
Stop Loss: 1.4765
Outcome: Partial Profit
The limit order was placed on 10/13. After checking with this order this morning that the words do not let a winner turned into a loser repeat would in my head over and over. My current major focus for improvement is knowing when to enter/exit and knowing when to make profit (I tend to accept it too early or to late). So I transferred the stop/loss till some guarenteed 25 pips profit on this one (got stopped out), but I am thinking about re-entering this trade.
It is late and I need to prepare for working in the daytime of course, but I will update this weekly and possibly daily. My Journal #2 must be up tommorrow based on my female committments. These are the only trades placed because 1/10/8 and I will make certain to incorporate every trade, therefore I receive an accurate image overall. Finally, not all images can be uploaded... I will have to post the remainder on the next post.
-Cheers
https://www.forexsoutheast.asia/attachments/152814411786880811.jpg
https://www.forexsoutheast.asia/attachments/15281441182050056363.jpg
https://www.forexsoutheast.asia/attachments/15281441201394836029.jpg