Hello all
I am going to try to be disciplined about posting my journal here. I track it myself in a Google Sheet for now, but I will also post on this thread.
Best wishes and good trading to all!
Captain Candlesticks
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Its an essential discipline to track what you’re doing in trading, and thanks for sharing your efforts.
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Trade 001 (all times in London time)
- A bullish 123 has formed on the M30, M15 and M5 charts for AUDCAD
- On the H1 chart it looks like we are in a bullish triangle
- Entry at 0.90726
- SL at 0.90548 (just below point 2 of the 123)
- Account risk: 0.48%
- TP at 0.9095 (261.8 Fib)
- R ratio of 1.26
Outcomes
- Buy stop order added at 2019/09/18 11:47.
- Buy stop was triggered at 2019/09/18 13:16.
- Exited by hitting TP at 2019/09/18 17:37.
Feelings on the trade
- I was nervous as it was my first trade on this pattern and timeframe.
Sins
- It turns out I traded right into news without knowing it. I only found out when a trading buddy told me.
- Forgot to check the daily ATR of the pair before entering the trade.
Entry Image
Result Image
Trades 000002 and 000003 (all times in London time)
- A bullish 123 has formed on the M15 and M5 charts for AUDCHF
- On the H1 chart it looks like we looking bullish and bouncing off the 200SMA
- We are well within the daily ATR of this pair
- Entry at 0.68034 (50% Fib pullback)
- SL at 0.67886 (just below point 2 of the 123)
- Account risk: 0.53% x2 = 1.06%
- TP1 at 0.68183 (261.8 Fib) with an R ratio of 1.01
- TP2 at 0.68296 (423.8 Fib) with an R ratio of 1.77
Outcomes
- Buy limit orders x2 added at 2019/09/18 16:04.
- Both orders deleted at 15:57 as price jumped above the 161.8 Fib without triggering the pullback entry - idea is now invalidated.
Feelings on the trade
- Less nervous than for trade 000001.
- Keeping an awareness that I am trading to learn right now, not trading to earn.
Sins
- I wasn’t 100% convinced on this trade, but took it anyway.
Entry Image
Result Image
