Well, I have resented from keeping a journal for some reasons. First of all, I’m forgetful when it comes to keeping track of papers. Second, I don’t have much love for writing with a pen and paper. There are more reasons but these should be enough. And here I go, a trade journal.
I’m not a pro-trader, but I do hope I will become one. I KNOW THAT I WILL BE ONE! Now this trade journal will be based on below criteria and target:
Demo Account
Deposit: $10000
Maximum Loss: 30% of the deposit
Minimum ending balance: $17000
Work Days: 22
Min. T/P: 40 pips (adjusted to large spreads)
Max. S/L: 40 pips (adjusted to large spreads)
No Gold, No Silver, Basically No Commodities
Min. Trade count: 30
Lot Size: 1
No trades will exceed 24hours. Otherwise the demo will start from scratch.
This is my challenge. And Day 1 has passed, I’m currently trading the day 2.
Most trades were done with the analysis at that moment in Day 1, which is hard to remember at the moment.
Day 1 Trades:
SELL EUR/SEK at 8.4686, S/L: 8.4880 & T/P: 8.4500 -> Stop Loss: -443.28
BUY USD/PLN at 3.1646, S/L: 3.1500 & T/P: 3.1900 -> Take Profit: +1194.36 (Swap: -14.79)
SELL GBP/USD at 1.6171, S/L: 1.6210 & T/P: 1.6130 -> Take Profit: +410.00
SELL EUR/USD at 1.2918, S/L: 1.2958 & T/P: 1.2850 -> Still in action (Swap: -9.10)
Current Balance: $11146.29
Day 2 Trades:
Still trying to decide on which Kroner I should put my money on. OR which country will give me a quick intraday profit of at least 40 pips (or equal profit target).
BUY EUR/NOK at 7.3851, S/L: 7.3710 & T/P: 7.3990 -> (My logic behind this was to use trend’s resistance . Missed the entry point a little bit. So, I might not be able to get the profit. However, being the stubborn person I am, decided to take the trade.)
I have missed another trade on USD/PLN as the pair is going back to the original place. 100pips would be enough for this trade but I was thinking of a larger gain. So, this might be a trade I will stand back. (current price 3.1720)