Sriddy's Trading Journal

Pattern: Gartley
Entry: 1.40381
Exit: 1.40396


The spread on this pattern alone had me at my stop loss before even price moved. Spread is KILLING me but, I have to figure out a way around it.

-2 Pips

Pattern: Gartley
Entry: 1.4047
Exit: 1.40559


Price had a initial reaction but, then just popped back up and hit my stop loss.

I feel like I should go back to demo trading. I have lost about 50% of my capital and I feel the need to go back to honing my skills rather than making money.

Pattern: Gartley
Entry: 1.41034
Exit: 1.41096


There was nothing wrong with this pattern. I measure it perfectly and I placed my entry at the perfect point, this pattern just didn’t work out.

Pattern: Butterfly
Entry: 1.01497
Exit: 1.0143


Since these patterns keep failing I think I should look into patterns that have more range between the X leg and A leg. Of course all these patterns failed but, maybe they failed because they weren’t powerful enough.

Pattern: Butterfly
Entry: 0.75445
Exit: 0.75406


Same idea, I just feel that these pattern are failing because they aren’t powerful enough, persay.

Pattern: Gartley
Entry:0.83736
Exit: 0.83761


I few this pattern spot on, waited for the perfect entry and went for it. Initially the trade went well but, not enough the cover the spread.

Lessons:

I need a new way to make sure my entries are consistent and I am getting the best possible price. Also, small patterns like these are killing me because of the spread. I know I have said before the bigger patterns are what need to work for me but, I can’t bring myself to sit and watch them. But, I will bring myself together and take a look at those charts over the weekend. Why trade more patterns when I can trade less and more consistent patterns? Let’s see!

Pattern: Butterfly
Entry: 111.2
Exit: 111.5


I made sure this pattern had enough price range and that convergence was there. Initially the trade went toward my profit target but, it then posted a spinning top and reversed. I stayed in this trade since my risk was only 0.5% just to see if price would reach PRZ again and shoot toward profit target. It didn’t.

Lessons:

  1. With patterns on the five minute time frame sometimes it is just better to take profit as soon as possible. Remember the longer you stay in a trade the more likely chance you have of price reversing and counting in its previous direction (especially on the five minute timeframe) . But, I’ve also seen many times where price looks like it’s reversing only to take a breath and fly back toward profit target. I think the only way I can combat this is to just keep taking trades and learning from experience!

Pattern: Gartley
Entry: 83.16
Exit: 83.65



This was a good trade. I had perfect convergence and a spot on RSI sometimes, harmonic patterns especially five minute patterns don’t work all the time.

Lessons:

I feel that RSI conformation is essential to me picking the best of the best trades. I have run over the numbers and I know that I do pull ahead in the long run. I will continue to add tools, experience, and knowledge until I can master harmonic price patterns!

Pair: EUR/USD
Entry: 1.0876
Exit: 1.0872


FINALLY! A WINNING TRADE! I was a little late to this trade, I could’ve squeezed a few more pips out of this trade if I had gotten in on the right price.

Lessons:

I must be more alert and get more accurate on my entries.

After so long and many, many sad sleepless nights I have finally made money using harmonics. The only thing that concerns me is if that was a one hit wonder or if this system is actually profitable. I can only find out by trading and trading. I can’t wait to see what the future holds!

I have gone back through the few videos that gave me the basis on how to trade. I have re learned some very important factors that I did not use before. Maybe using these factors will be more beneficial to my trading by cutting down on losses and really finding the true D points that reach target profits. I will be comparing the current way I trade to the new possible way I could trade based on each trade I take.

I’ve waited so long for this moment. Years, I mean years, of just waiting and not giving up. I still have doubt in my mind if my winning EUR/USD trade was because of my proper analysis or because of pure luck. That has been on my mind this whole weekend and it is only something that can be answered by this week’s trades! I am very nervous and very excited for the week ahead. I can’t wait!! I will make it!!

Pattern:Gartley
Entry: 1.0985
Exit: 1.0989


In this trade we had two Gartleys meeting in a tight range of pips. I took the trade based on the entry of the smaller pattern. Although, the smaller pattern had an entry the larger pattern didn’t. If I would’ve waited for the entry on the larger pattern, I would’ve not gotten in and saved myself from a losing trade.

  • 4 Pips

Lessons:
I know excatly why this didn’t work out. The smaller pattern gave me an entry but, the larger pattern didn’t. I took the trade because I didn’t want to miss out (FOMO.) I now know that larger patterns and patterns that meet in a close range must both give the entry signal to enter.

Pattern: Butterfly
Entry: 112.92
Exit: 112.846


This was a trade that I measure out perfectly and took. Had great risk to reward but, I learned something very valuable.

Lessons;

I had conflicting signals on my Stochastic and my RSI. I took the trade anyway because I had never back tested the Stochastic and I wanted to make money. I was being greedy.

  • 8 Pips

Pattern: Gartley
Entry: 0.7413
Exit: 0.7413


I followed all my rules on this trade! Had a perfect entry and followed all my rules concerning moving my stops. This trade was two pips away from target profit and then it sank back down to entry, where I exited at breakeven.

Lesson:

I used trendlines to stick a little longer in this trade but, I think I am going to start using them more. Either I hit target profit, hit my stop loss, or breakeven. That’s it. No manual exits this method will hopefully make me a better trader. It will also make me more accurate in my trades.

Pattern: Gartley
Entry: 1.3596
Exit: 1.3593


THIS CAN’T HAPPEN AGAIN. My D point wasn’t even the correct D point. It was such a pointless trade and a waste of capital.

Lessons:
Always recheck your numbers!!

  • 0.36% of account


I have reviewd my trading as a whole thorughout the past week. First of all, I am very proud of myself for hoe far I have gotten in my trading. From swing trading to scalping, I paid my entrance ticket. Now, it’s time to show the world that I can be the best! Second, I have learned that as long as I trade my trading hours. my trading style will always result in me having a positive day! I am very happy about this. The only thing that seems to get in my way is my focus, I need to work on that!

Lessons:
FOCUS! I need to focus, focus, focus! I am missing a lot of trades because I am not focused. I have a solution for this and I will implement it. Also, I need to stay consistent. I need to be trading all the hours that I set aside for myself. Those hours will help me always end the day positive! I KNOW I CAN DO THIS! LET’S GET IT!

Pattern: Butterfly
Entry: 82.381
Exit: 82.451


I measure this pattern correctly. Waited for the entry and the RSI conformation, it just didn’t work out.

Pattern: Butterfly
Entry: 111.477
Exit: 111.532


Measured this pattern correctly. Followed my entry rules. I lost this trade but, doesn’t matter because in the long run I KNOW I WIN.

Stay focused!

  • 1%

Pattern: Gartley
Entry:1.1186
Exit: 1.1193


I drew this pattern correctly. Followed all my rules and didn’t give up after my loses! Never quit! I CAN DO THIS!

+2.58%

Pattern: Butterfly
Entry: 124.499
Exit: 124.52


UGH! This trade makes me so mad! I entered around 4:40 PM knowing that the 5 PM close could whipsaw this trade but, I wanted to take the risk anyways. I measure this pattern perfectly and took the trade, got a great price and one of the best risk to rewards I have ever had! It reached halfway to my target profit but, whipsawed to my stop loss as time got closer to the 5 PM close. I followed my stop loss procedures and was out for a minimum loss.

Even though this was a perfect trade that should’ve worked out, the timing just wasn’t on my side. But, the way I traded this pattern was superb!

  • 0.37%

Pair: AUD/USD
Pattern: Butterfly
Entry: 0.7548
Exit: 0.75521

I measure this pattern correctly and waited until I got a conformation to enter the trade. The trade immediately blew past my stop loss and contuine to fly upward.

There is nothing wrong with losing that’s why I take a 1;2 risk to reward ratio.

–1.1%

UPDATE: I have been reviewing my trades for this week and as I redrew this pattern very precisely, I noticed the D was not near the 1.13% but, near the 1.272% of the XA leg. I would’ve never taken this trade if it was drawn correctly because RSI never gave me a entry.