Baemax's Trading Journal

I decided to create another trading journal since I seldom use the Cowabunga System. My trades here are still on demo account and I’m using price action and chart pattern analysis. I’ll try to trade on different currency pairs too so I can practice more.

I also need the help of this community in my forex journey. Feel free to comment and correct me in case I’m not on the right track. Thank you in advance!

2 Likes

Good luck on this @baemax023. I’m also thinking of doing this on the side as I do my 3 ducks trades. :slight_smile:

1 Like

For some that trade a lot a written trade journal may be hard to maintain. However doing ones postmortem homework is essential to improvement of one’s trading and it will establish confidence in you and your trading.

Most of this data can be obtained from your closed trades database.

What do you want to know?
What is you expectancy
What is your average winner
What is your average loser
How much is average winner conversely how much is the average looser.

other items,
did you let your trade take profit or close it early
which Pair was your worst trade conversely your best
If you trade multiple time zones the same info.
How long is your agv winner and loser open

Other esetricale items
whats going on in your personal life
your family
you job
you health
you exercise both physically and mentally
what books are you reading
and so on

its all the big picture.

1 Like

Thank you @CoinLady! Good luck with your trading journey too! :slight_smile:

I’ll keep this in mind. Thank you for sharing! :slight_smile:

Chart pattern analysis sounds fun! :smiley: Haha. :slight_smile: It gets tricky though because of how subjective it could be. :smiley: But I wish you all the pips here @baemax023! :stuck_out_tongue: Good luck!

1 Like

EURUSD 4HR Chart
The pair has been trading at 1.15 level. I can also see a double bottom pattern formed in this 4hr chart, which is a bullish reversal pattern. I would wait for this pair for now and maybe buy once it breaks the 50 moving average.
:thinking:

Hi ria_rose! You’re right about that. I’m still learning by reading and watching videos about price action and chart pattern. :face_with_hand_over_mouth:

Thank you and good luck with your trades too! See you around :slight_smile:

I opened my other demo account and found out that I still have a running EURUSD trade. I have a short position at 1.15774 and SL at 1.16500.

It’s up by 171 pips today. When it broke the 1.1430 level, I adjusted the SL to 1.1480 and set TP at 1.1340.

This is my open trade for GBPUSD. I decided to enter when it broke the 1.29 support level which I think is a confirmation that it will go down.

Sell at 1.29350
SL at 1.29850 -50 pips loss
TP at 1.27850 +150 pips gain

Risk to reward ratio of 1:3

Only a few pips away for my target to be hit. :crossed_fingers:

1 Like

GBPUSD Update:

Last Friday, my target was hit at 1.27850 giving me 150 pips. The pair closed at around 1.28 level.

EURUSD Update:

My EURUSD target was also hit at 1.1340 giving me +237 pips!

Hope you guys also ended your week with a positive pips! :slight_smile:

Congrats on your winning trades @baemax023. :slight_smile:

Thank you, CoinLady! :slight_smile: Let’s hope for a good trading week ahead!

This is my first trade for the week. EURUSD pair still in a downtrend on a daily chart. Last Friday’s candle showed price rejection. I went short for this pair today.

Entry price at 1.13829
SL at 1.14555
TP at 1.11752
Risk to reward ratio of 1:3

Happy Monday traders! My EURUSD trade last week didn’t go well. I got stopped out of my trade. :frowning: I decided not to open any trade after that because of the midterm election. Right now, I’m looking at GBPJPY and AUDUSD pairs. I’ll update once I find a nice position to open a trade.

1 Like

Good luck on your next trades @baemax023! :smiley: I’ll always be cheering for you guuuys! :blush:

1 Like

Thanks Ria!! Happy Monday and may we all have a good trades for this week! :slight_smile:

My trades last week didn’t go well. :frowning:

My first trade was AUDUSD where I entered short at 0.72573. I was watching this pair when it broke the downtrend channel. I decided to go short when it didn’t break the 0.73 level of resistance but I got stopped out at 0.7310 level.

AUDUSD Daily

Second trade was GBPJPY. It was a short entry at 147 and got stopped at 148. Currently, it’s still a bearish trend for this pair.