Stylish Trading Journal
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Thread: Stylish Trading Journal

  1. #1
    Dear All;
    The aim of this thread is to share my live trades with FX professionals around the world. I've four years of FX expertise and I've been through many trading egies and egies which have failed to package my trading style. Currently, I figured out that the way that suites my style is the way that rides the market forces either selling or buying in a swing trading pattern. My style is 100 percent discretional and I rarely use indiors because I believe they are lagging and cost lots of eventual reductions. I just watch market reactions around support and resistance level. Market reactions are shown through attentively watching candlestick patterns near these amounts. I only trade using the 1hr and 4hr charts, however, market reactions on a daily chart is indiive to market instructions. I'm only focusing at the moment on three pairs EUR/USD, GBP/USD and USD/JPY, however, I believe that in the event that you have the point out of this thread, you'll be trading whatever pair you like.
    My charts would display LINES and LINES only. These lines are recorded in a order of importance decrease as follows: Support and Resistance lines e.g. Trendlines - Channels Daily (1hr) and weekly (4hr) pivots Fibonacci Degrees In each transaction I will be publishing the FX. . .WHY? Concept that's the reason behind taking or leaving a transaction. If I don't logically response the FX. . .Why? Question in my mind, I don't trade. This response should explain entry point, stop loss point and trade advancement.
    A trader with my style should be well oriented using candlestick pattern formations. I believe my style is quite profitable, however, I don't like attracting people using large profit pips, but you'll figure out yourself how could this be profitable for you.

    Your thoughts and ideas are very valuable for me personally.

  2. #2
    My first chart is on 1hr USD/JPY. This chart goes back to last week action.

    Trade No. 1 .... Bullish englufing on rejection from a major support level on the 4hr chart. Exit occurs near the 38.2Fib on observing a Doji star. Profit 105 pips.
    Trade No. 2 .... Bullish Doji celebrity on a rejection from a previous support level. Exit occurs near the 61.8Fib on observing a Doji star. Profit 89 pips.
    Trade No. 3 .... Bearish engulfing from a trendline. Exit is defind as the price 104 (preceding broken level) with 71 pips profit, however, for the purpose of this commerce, it's still openned till I visit a confirmation.

    In most trades stops were placed 35 pips away which is a tiny modest loss in contrast to the yield.

  3. #3
    Quote Originally Posted by ;
    My very first chart is on 1hr USD/JPY. This chart belongs to last week activity.

    Trade No. 1 .... Bullish englufing on rejection from some major support level on the 4hr chart. Exit happens near the 38.2Fib on observing a Doji celebrity. Profit 105 pips.
    Trade No. 2 .... Bullish Doji celebrity on a rejection from a previous support level. Exit happens near the 61.8Fib on observing a Doji celebrity. Profit 89 pips.
    Trade No. 3 .... Bearish engulfing out of a short-term trendline. Exit is defind as the price 104 (previous broken level) with 71 pips profit, however, for the point of this trade, it's still openned till I see a confirmation.

    In most trades stops were put 35 pips away which is a tiny modest loss in comparison to this yield.
    Nice. If you let me I would make some comments:

    I do not use fibo, nor candles, therefore this is not the same perspective.

    1) Double bottom having a broken downtrend- Long
    2) HL in an uptrend together with first pullback - Long
    3) New downtrend (LH-LL confirmed following the next LH- Short

    So I would be doing exactly the same trades. . .Nothing about fibo or candles in my comments just plain Dow Jones theory.

    I hope my commenting this is Ok.

    Good fortune

  4. #4
    Quote Originally Posted by ;
    Nice. If you let me I'd make a few remarks:

    I do not use fibo, nor candles, so this is not the same perspective.

    1) Dual underside with a broken downtrend- Long
    two ) HL in an uptrend with first pullback - Long
    3) New downtrend (LH-LL confirmed after the third LH- Brief

    So I'd do exactly the same trades. . .Nothing about fibo or candles in my remarks just plain Dow Jones theory.

    I hope my commenting this is Ok.

    Good fortune
    Well, as long as you would take those transactions, then we are on precisely the same thinking pattern. However, I am not familliar with the Dow concept and I just work well with technical analysis on the mentioned time frames.

  5. #5
    The next chart is an superb commerce setup on GBP/USD using both 4hr and 1 hr period frames.

    The trendlines shown on the screen shot is made on a 4hr chart which represents a downward medium term fad. Notice the doji close to the downward trendline. This indied a market strain and potential reserval. The affirmation didn't happen in the next two hours, but the third hour showed a bearish engulfing after briefly touching the trendline. This initiated a trade with a stop loss in the last high and a target profit in the formerly broken medium trendline.

    This transaction created a 240 pips in profit.

    I proceed stop loss level to breakeven if the transaction is 50 pips in profit and I don't trail after that till I see a change warning (most common) or hit no reduction (which rarely happens because a force moving 50 pips from you's constantly noticable!!)

  6. #6
    My trading approach has the following advantages:The accurate chart DISSECTION gives me distinct levels of relative price movements. At just those levels, I see the market shing forces. This egy teached me to the very first time in my own trading experience to be patient until a force is shown by price action. Using different systems and indiors gave me lots of fictitious and sequencially conflicting signals i.e. Signal Long then indie Brief inside a very small time interval. My egy teached me to always trust the FIRST sign, whatever the price retraces to the loss zone. This largely removes plogical strain during trading. The disadvantage about this egy is that it requires a committed time for market analysis and relative Foreign Exchange expertise.

  7. #7
    This is an excellent commerce setup for now based on my approach. On the attached chart note the 2 lines drawn on the 1hr chart. The resistance line is produced from the 4hr chart and the service line is produced from the day chart.
    Notice the market reaction in the resistance level, an nearly bearish engulfing pattern occured. This level was packed with the daily pivot R1 level also which makes it a significant response to me.
    Entered brief at 1.9565 with a stop in 1.9615 (50 pips) and an profit hypothesis at 1.9380 (185 pips). The commerce evolved in the right direction and reached an initial profit goal of 1.9480 (85 pips profit). Price stalling occured (reddish eclipse) and I moved stop loss to breakeven and shut half on my position.

    I've a very powerful believe that cable would continue its way down since the day chart is nearly showing a bearish engulfing day. I'll just watch for possible stretching back tomorrow.

  8. #8
    Another transaction today for the USD/JPY utilizing the identical egy.

    Extended @ 103.90, stop @ 103.60 and profit @ 104.65

    I feel that this transaction was a little risky becuase it relies only on short-term trendlines about the 1 hr chart and entry was off from a daily pivot degree. But it worked great and resulted in 75 pips.

    This tells us that the market force approach is less successful on reduced time frames.

    Nice profit for now.

    Note. The identical pattern occured today of EUR/USD however I couldn't take it because of money management.

  9. #9
    Quote Originally Posted by ;
    This is a really great trade setup for now according to my egy. On the attached chart note the 2 lines drawn to the 1hr chart. The resistance line is made of the chart and the support line is made of the day chart.
    Note the market reaction at the resistance level, an almost bearish engulfing pattern occured. This amount was packed with the daily pivot R1 level too making it a significant reaction to me.
    Entered brief at 1.9565 using a stop at 1.9615 (50 pips) and also an profit hypothesis at 1.9380 (185 pips). The trade evolved at the correct direction and reached an initial profit target of 1.9480 (85 pips profit). Price stalling occured (reddish eclipse) and I moved stop loss to breakeven and shut half on my own position.

    I've a very strong believe that cable would continue its way down because the afternoon chart is almost showing a bearish engulfing day. I'll only watch tomorrow stretching back.
    The Remainder of the place was closed at 30 Pips profit after prices retraces back

  10. #10
    Very nice bullish engulfing close to a strong support line and Daily S1 degree.
    Position openned @ 102.85 stop @ 102.55 and profit 104.
    Notice the way the price penetrated a short-term trendline and remained above it afterward continued its target moderate term-term trendline. Profit pips = 115

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