Trailing Stop highest high, lowest low of last three or four 4H bars N
Other: _____________________
Record your thoughts.
shouldn’t have placed the trade right before the news. Better than expected CPI, S/L hit 50pip loss
Result of the trade: Loss of 50_ pips
Re entry after PA confirmation Stopped out after gain, total breakeven
Re-entry again after H4 PA, on 10/23/2013, Final Exit on 10/24/2013. Gain of 60 Pips
Trailing Stop highest high, lowest low of last three or four 4H bars N
Other: _____________________
Record your thoughts.
moved stop loss to 20 pips after seeing non continuation, after hitting stop loss and moving further, it rallied. Did not pay attention and lost a good entry opportunity. Wait for a good pull back entry.
GBP/AUD, GBP/NZD: After hitting the zone started to rally. Should have watched the economic calendar since better than expected aud data hit my SL. Have to be more patient and give more room to trailing stop loss for greater gain.
GBP/CHF: 1st bounce did not generate enough strength, missed the expected 2nd bounce because I was distracted. Always pay attention to possible entry chart. Discipline
Exited all trades on 10/24/2013 because leaving on thrusday night and can’t monitor trades.
Total Gain/Loss for the week 305
Weekend Goal: Develop a Weekly review & Monthly review template for myself.
Pairs to watch next week: AUD/USD, GBP/CHF, USD/JPY, USD/CHF
p.s. Only doing this for myself and to keep an easily accessible online copy of my trades, thoughts and etc. I am already writing the same hard copy journal
Trailing Stop highest high, lowest low of last three or four 4H bars Y / N
Other: _____________________
Record your thoughts.
My stop of 30 pips was hit at first, then I found a good re-entry point after double bottom. Entered and waited with patience, strong rally up almost 130 pips, exited the position because of possible short signals. May look for re-entry long. Total gain of 97. Second stop loss also came close but didn’t hit… maybe i should start using wider stop.
only 1 strong H4 Bearish bar, rounding top but possible to make a double top , another H4 Doji-ish
Adding to Winning Positions
Elaborate:
Risk / Stop / Exit
Standard Stop Loss 40 pips ± 10 S/L:50__
Risk % of your Account: _________________
Trailing Stop highest high, lowest low of last three or four 4H bars Y / N
Other: _____________________
Record your thoughts.
11/1 - it has gone 235 pips in profits since entry. Still riding the profits, but I should never get excited, since such strong drop is rare and there is always a chance that it could have gone the other way. possibly ride it over to next week.
Trailing Stop highest high, lowest low of last three or four 4H bars Y / N
Other: _____________________
Record your thoughts.
Price rallied just enough to hit the stop and then started dropping. This seems to be happening a lot in my system. Maybe I should have set wider stop? and give it more room? with a smaller position? or pay attention all the time at PA and move stop loss wider to over higher/lower 618. This kind of trade makes me feel frustrated but must keep calm and stay disciplined. Let’s not try to revenge the market and sit and see and have a good pullback to re enter.
Result of the trade: Loss of ________ Dollars 40 pips
Trailing Stop highest high, lowest low of last three or four 4H bars Y / N
Other: _____________________
Record your thoughts.
Expecting at least some bounce of at least 100-150 pips
Exit thought: stopped out with 1 hour bar rally. gj being patient. Still think it could go more
Week of : Week of 10/27/2013 - 11/1/2013, Month of late October_____
Total number of Trades: 5
9 monthly
Net Gain/Loss: + 17 pips weekly
+ 322 monthly
Floating P/L: +517 pips floating
Evaluation for each pair/trades:
GBP/CHF - Got stopped out at first, re-entered after it has formed the double bottom. Exited when it reached my system’s another resistance zone, so exited with total of 97 pips. Turned out to be a good exit decision as price rallied slightly higher and then retracing back. However, I think the pair is still could be bull looking at the first angle.
GBP/NZD - Need to learn how to move on… missed a good entry point and tried to enter at the worst time. Pair eventually went my way but it hit the stop loss before it did. Entry was very tricky
EUR/USD - Price hit stop loss just barely then went down, seems like it’s happening to EUR/USD maybe I should start setting a wider stop loss and risk less for this pair.
EUR/CAD, EUR/AUD - Floating profits. will record when exited
Personal Evaluation
What did you do well this week that you should keep up?
Being Patient after entry. Not doing unnecessary analysis after entry.
What were you emotions like?
Felt like missing out on great opportunities when Both of the losses hit my stop loss and dropped, other trades going my way - I was a bit surprised as they dropped very quickly, - should not get excited since it's rare to have such fast drop.
What would you have done differently?
Should pay close attention to price action, or simply risk less and set wider stops. set alerts more often.
Trailing Stop highest high, lowest low of last three or four 4H bars N
Other: _____________________
Record your thoughts.
11/7/2013 profit locked in at 45pips
Exited when price did not make any progress with 45 pips. However, it later dropped further after making a double top. I should have left the stop loss locked in