500-1000pips a month trading journal

[pipsbanker]

Hello everyone, I'm new here, and this is my first post. I've been trading forex since about 2005. Just like many of you. I started hunting for the holy grail indicators that gives buy/sell with 0 loss. Soon, I found out that my trading statement is going no where, with messy charts and too many indicators to confirm. That causes the late signal trigger; minimizing my wins and maximizing my losses. Most of them are lagging. After reading many TA systems, books and LIVE trading, I have found out about there is no systems or indicators can really predict where the price will go. The importance of Money Management, General trend, S & R and fibonacci, and most pro use minimal to none indicators at all. It took a few years of constant learning, I've slowly developed into a profitable forex trader, and now earn a fairly consistent income from trading. I'm a fairly short-term trader with trades generally lasting between a few minutes to a few days at most.

I'm going to make this thread to be my forex trading journal. Meaning I am going to post what I do and what happen in my trading during the 5 trading days (Monday to friday). I also believe by writing this journal, somehow it can improve my trading performance, so let's see how it goes.

[KENNETH LEE]

Thanks for sharing...

[pipsbanker]

Only took 3 trades today, lots of stuff need to caught up on Monday, 2 on EJ and 1 GJ, +66pips

[method765]

Hello pipsbanker welcome to the forum. I think this will be a really interesting thread if you explain your trades, and thoughts behind them. Looks like you made out well earlier with 66pips, will you tell us why you took those trades?

[pipsbanker]

Hi method765, my trades are based on 15/4h, i use ema, s&r and macd as indication,

GJ is ranging between 157 - 152 area, if we break 157 we see 160, if we break 152 then we back to 146

[pipsbanker]

another 3 trades I took, au, gj and eu, total +77 profit

[pipsbanker]

GU, we need to break below 1.6340 area then 1.6, otherwise we still in ranging mode

[pipsbanker]

got stop out on GU, total profit +15 pips today

[pipsbanker]

only 1 trade took on Thursday, +18pips, total profit this week +176pips

[pipsbanker]

August 3 trades update

as mentioned before, if GJ break 157 area, we see 160, 2 trades took on last Friday, GJ and EJ, profit +418pips