Hey there,
Thought this was as good a place as any to create a trading journal. I’m a Newbie to the Forum’s but a long time student of the Babypips School, and I love it here. This journal is just for my reference for the time being, i want a place to record my trades and then if the system created proves profitable, I will be posting it up.
Trading is as follows, and this has been inspired by http://forums.babypips.com/free-forex-trading-systems/51486-im-back-new-strategy-3-kelton-9.html and his use of Renko Charts.
Chart system: Renko
Currencies: EUR/USD, GBP/USD, USD/CAD, USD/JPY, AUD/USD, USD/CHF, EUR/GBP
To date I am avoiding AUD/USD, this is the only currency that yielded negative results when back tested, I still have yet to backtest USD/CHF or EUR/GBP
Rules (Far from perfect- just need a formal place to write them)
- When moving average separates from white bar, go long or short
- When moving average crosses back over, and is separated from white bar, exit trade AND place an order in the other direction
SL: 4 bars (80 pips) in the opposite direction (5 bars total= 75 + 4 spread max)
- If stop loss is hit, wait for conditions to be met again to trade
simple as that
Regards,
Charlie
First Trade (Yes I am back tracking a little- I’ve recorded by hand thus far):
[B]28/02/2013: [/B]
Sell USD/CAD
Open: 1.0227
Close: 1.0308
Difference: (81) - hit stop loss
[B]01/03/2013[/B]
Sell EUR/USD
Open: 1.3077
Close: 1.3028
Difference: 49
[B]01/03/2013[/B]
Buy EUR/USD (because other trade was closed out)
Open: 1.3029
Close: TBD
Hello traders!
Another trade here,
04/03/2013
Buy GBP/USD
Open: 1.5066
Close: 1.5056
Difference:(10)
GBP/USD chart:
Good luck to all
YET ANOTHER:
(I’m starting to realize the downside of Renko Charts- time)
[B]05/03/2013[/B]
Sell USD/JPY
Open: 92.97
Close: 93.80
Difference: (83)
All the best,
Charlesart
Hello traders,
Bad news unfortunately- closed out my GPB trade at a -10 pip loss, at one point it was up past 60 points! May need to revise my strategy… Just looking over the trade, if i had entered in at the EXACT right times i still should have come out with 15 pips, problem is Renko charts are not friendly and I can’t watch them all the time.
Another trade though, since GPB was closed, i now and opening in the other direction:
[B]06/03/2013[/B]
Sell GBP/USD
Open: 1.5056
Close: TBD
Difference:
My current open trades are as follows:
EURUSD: (17)- Near Exit point at a loss
USDJPY: (61)- Nearing Stop Loss
GBP/USD: 01
Good Luck to all
Charlesart
[B]EDIT[/B]- I’ve decided to stick with my current trading strategy for AT LEAST this week and next.:
AS OF NOW:
JPY just hit stop loss: (83) points lost
EUR/USD met conditions to close at a loss: (34) points lost
GBP/USD Cosed at: 14 points
Review to date:
Points lost: 183
Points gained:63
Trades made:7
Trades open: 0
