AJFXs Trading Journal and Setup

This is my trading journal. I started learning Forex on 07th Jan 2021 and today marks the 10th month of my trading journey. Blowing account was like eating popcorn during my first 4 months of trading. Now I’m maintaining my balance and trying to find a suitable trading style.

My current method as follow:

Trading style: Price Action, no indicators

Hybrid Trade
15mins - Identify Potential Setup Before/During London Market

Focus Pair: AUD/USD

SL: 1R
TP: 2R or more
R/R: 1:2 or more

09th November 2021 till present
Questions to consider:

  1. Whether to set BE? So far trade has been stop out at BE before heading to TP. Or did I set too early?
    For now, will set one position and let it run. When lot size increase to two positions, one close at equilibrium point and one to continue running, set SL to BE or trailing stop.

  2. Juggling 4 pairs seems to take up more time as still holding a day job. Should I reduce to 2 pairs?
    Refer to option 2, decided to take 1 pair to focus.

  3. TP at equilibrium or set even further?
    Refer to Question 1, date to open 2 positions to be set eventually.

  4. Fibonacci is like a double edged sword. How to determine trend continuation?

  5. Why am I not convince with my setup? Every process is thought through reasoning and logic but still FOMO takes the better part of me.

If further refine my style, there’s 2 options, taking in time, effort and character into considerations.

Option 1:
Decide whether to be a Bull or Bear Trader.
Advantages: Just focus on one side of the trade. Able to take 2 pairs. Less emotions, more time.
Disadvantages: If market is on the opposite sides, more waiting time.

Option 2:
Decide whether to be a Bull & Bear Trader.
Advantages: Able to trade both sides. Less emotions, more time. Understand the pair better.
Disadvantages: Just take one pair and dissect, could have days where there’s not much volatility.


  1. London session seems to be working fine, enough volatility but not too volatile like NY session.
  2. Journal helps to collate your ideas, see your thought process and present in a visual style to see what you have done right or wrong.
  3. Consistent in the way you approach the market, consistent SL, variable TP >2.
  4. Need to be precise and process like binary code. Every action is either 0 or 1.
  5. Think like a retail trader, execute like an institution.
  6. Test new trade ideas using small lot to test your emotions.
  7. You only can edit 12 times a day.
  8. 10th November 2021 - Decided on Option 2 and focus only on AUD/USD for the time being.
  9. Time is also money, felt better to focus on a single task, hopefully to do it better, and have more time for myself.
  10. To delete previous day setup, everyday is a brand new day with new perspective of the market.
  11. Enter at the most sensible place.
  12. The hardest part is to let winning trade run, the easiest is to lose the SL. Why am I not convince with my setup? Punishment you get is to see the trade reach the original TP.

Master Trading Plan Ver. 1

Type of Trader: Bull & Bear Trader
Trading Style: Price Action and no indicators to identify trade ideas
Timeframe: Top down, entry @ 15mins

Entry: 0.15%, TP set to 1R, another 0.15% set to final TP.

SL: 1R = 0.3% (Fixed Lot Size)
TP: Minimum 1.5R and beyond

Option 1: Do nothing, either full SL or full TP.
Advantages: Max Returns
Disadvantages: Max Loss

Option 2: Do something. Take 50% @ 1R, set SL to BE and let it run to final TP
Advantages: Partial Returns, BE protects capital
Disadvantages: Potential trade cut off by BE before heading to TP.

Option 3: Do something. Take 50% @ 1R, set SL to trailing stop and let it run to final TP
Advantages: Partial Returns, Trailing stop protects remaining profit
Disadvantages: Trailing stop being cut off before heading to final TP.

To discuss either a set and forget aggressive Option 1 or conservative approach Option 2 & 3.

Modus Operandi

Type of Trader: Bull & Bear
Trading Style: Price Action. No Indicators
Timeframe: Top down, entry @ 15mins

SL: 1R (0.3%)
TP: 2R (Close 75% @ 1.5R, 0.5R to run and set to BE)

Trade Setup for AUD/USD

23rd November 2021, Tuesday Setup