Coastalfx Journal

[coastalfx]

I currently have all of my positions closed. I figured this was as good of a time as any to start a journal. First let me just let you know that my trading style is very boring. However, I believe it will prove to be profitable over the longrun. I only trade off of weekly and daily charts. I am a trend trader. I use 1% to 2% on a 1:100 margin for each trade. I trade all 6 of the majors. I use large stop/losses up to 1000 pips. I do not use "Take Profits". When I am in a trend I use a trailing stop, the longer I am in the trend the larger the stop becomes. The goal of this method is to stay in a profitable trend as long as I can.

Trading starts on Monday,
Jackie

[Piphacker]

Originally Posted by coastalfx

I currently have all of my positions closed. I figured this was as good of a time as any to start a journal. First let me just let you know that my trading style is very boring. However, I believe it will prove to be profitable over the longrun. I only trade off of weekly and daily charts. I am a trend trader. I use 1% to 2% on a 1:100 margin for each trade. I trade all 6 of the majors. I use large stop/losses up to 1000 pips. I do not use "Take Profits". When I am in a trend I use a trailing stop, the longer I am in the trend the larger the stop becomes. The goal of this method is to stay in a profitable trend as long as I can.

Trading starts on Monday,
Jackie

Hey GoodLuck Jackie...
PipHacker!!!

[coastalfx]

Thank you I appreciate that!

[mytwopips]

I look forward to following.

Now... What is your system!!! What is your system!!!

No, just kidding.

[Andrewunknown]

Good luck to you and I'll be following along, as well!

[uptick]

Originally Posted by coastalfx

I currently have all of my positions closed. I figured this was as good of a time as any to start a journal. First let me just let you know that my trading style is very boring. However, I believe it will prove to be profitable over the longrun. I only trade off of weekly and daily charts. I am a trend trader. I use 1% to 2% on a 1:100 margin for each trade. I trade all 6 of the majors. I use large stop/losses up to 1000 pips. I do not use "Take Profits". When I am in a trend I use a trailing stop, the longer I am in the trend the larger the stop becomes. The goal of this method is to stay in a profitable trend as long as I can.

Trading starts on Monday,
Jackie

1000 pip stops huh? wow. guess i can check your journal once a year or so. lol.

good luck.

[coastalfx]

I do have a long term trading style. However, I trade more than once a year usually about 2 to 4 trades a week.

Thanks
Jackie

[coastalfx]

Buy EUR/USD @ 1.5474 currently 1.5530
Sell USD/JPY @ 103.52 currently 103.83
Buy GBP/USD @ 1.9612 currently 1.9609
Sell USD/CHF @ 1.0462 currently 1.0442

That's it for now,
Jackie

[coastalfx]

Trailing stops triggered on the EURO and so far we are positive 34 pips

No changes to trades to note. Today was a good trading day. Let's see what tomorrow has in store for us. Tomorrow morning I will likely open two more trades.

Take care,
Jackie

[coastalfx]

Euro was stopped out yesterday for a 2 pip profit (hey pips are pips). I decided to place my first Buy Stop order on the euro.

I place a Buy Stop at 1.4500. Jacko, likes round numbers so I figured I would just pick a round number. I wanted to see some more momentum moving forward before I jumped into the Euro again. The rest of my rules still apply:

1000 pip Stop/loss with a 50 pip trailing stop. Although I have toyed around with the idea of having a 100 pip trailing stop initially. I may try this at a later time. For now I will just still with the 50 pip trailing stop.

Happy Pippin,
Jackie