A poor man with an expensive taste in women, cocktails and watches.
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For the sake of accountability, Please find my transaction report from MT4 since 03/04/2019 where I deposited a mere 315.50 (USD).
You’re probably thinking WOW, this guy has turned 315.50 into 2339.96… he must be some kind of trading God!!
False.
I later deposited 2577.46 (USD) after many ups and down, trading on emotion and self gratitude. As you can see, there are many wins here but, my losses are significant and far outweigh my profit.
I’m currently down -553 (USD) because I traded with my EGO, which of course, is self-made. As there are patterns in the market, there are also patterns in your errors nestled nicely on top of bad risk management.
We’ve all been there, you win 4 trades in a row and start to smell the leather seats in your Ferrari.
I’m invincible, I’m going to up my lot size, look at me, I just won 4 trades in a row - I know what I’m doing.
BANG - your next trade loses and you took an eye-watering -207.41 (USD) loss on a tiny account.
Follow my journey and see where I end up next.
More updates to follow…
APCity
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I think you need to focus on one or couple of pairs to not disperse your attention and underanalyze trading entries and exits. After all becoming processional mean you have to be good at something specific
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I 100% agree. I tried to diversify myself too quickly. As you have rightly stated, I need to focus on one or two pairs and really drill down and analyse my entries and exits. See what is working and what isn’t!
Thanks for your input!
Hey guys,
I’ve attached my trade idea with Gold Spot. In my very humble opinion, it is highly probable the price will reach the major resistance area around 1354.233. I think this because the market has moved in an ascending wedge formation. I will remain patient, not force the move and look to short this opportunity.
However, while I have mentioned it is highly probable I can’t ignore the ‘possible’. The possible also being the price could break through this major resistance, find support and continue into the upside.
Let me know your thoughts.
Cheers,
APCity
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Your analysis seems plausible. I am waiting to see if this recent weekly blast-up is simply a reaction to the equities market. If not, I think it could easily get into the 1400 territory (your 2nd scenario). Otherwise it will fall back to last August’s low at least.
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Thanks buddy, keep me posted on what you do!
Hey guys,
As it is nearing the weekend and because we’re all about accountability here, I’ve uploaded some trades I’ve made this week below since creating this journal and uploading my MT4 transaction history.
I’ve made some profits, tiny I know, but the main this is, they’re not losses. My goal is to claw back the -244.43 (USD) I lost in the past month and continue this trend until I have recouped the -526.38 I have lost in the markets in total.
These are the trades I have open at the moment and I’ll most likely keep them going over the weekend:
I have made some tweaks to my strategy, all credit to @The_Baller 's trading journal - so thank you! Reading his content has really made me take a big step back and look at the big picture (e.g. higher timeframes) and get away from the noise.
Thanks to anyone who is reading this, I hope you all have a great weekend, comments and feedback welcome as normal.
Cheers,
APCity
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Before I really sign out for the weekend and go drink some cocktails, here’s my trade update.
Happy weekend!
APCity
Update on Gold Spot, slowly moving into the expected consolidation channel. Let’s see how it develops.
Morning all!
I hope you all had a great weekend. I woke up to some profits this morning.
That is a nice 3.98% return since opening my journal.
Cheers,
APCity
@APCity congratulations on today’s profit. i’m looking to get out of the drawdown i’m in now… let’s see how it goes 
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Thanks man, good luck with your journey!
Morning all,
Took profit off the table again today, sitting at +4.43% now. Hunting down those loses!!!
Current trades I’m sitting on, not performing as I wish but remaining patient:
APCity
A nice entry I took on EUR/CAD today. Let’s see if it can hit my target profit, keeping emotion away from this one.
There we go, lost my nerve on the EUR/CAD trade. This is why I shouldn’t sit and watch my positions, so much for keeping my ‘emotion’ away from this one… No doubt the price will now go onto to hit my target profit. Oh well, profit is profit.
Up +5.09%
Lets keep this momentum going!
Cheers!
Clearing up on my end as well.
mate, when chikou span is bellow price,or overlaying price u don t take longs as per rule, that s a lot of choppyness right there, why don t u wait and trade a breakout
Hi mate, cheers for your comment. I just use the lagging span to mark support and resistance on monthly and weekly timeframes - nothing else!
yes, i know about that method, i personally don t need that for areas of support and resist. curious what s ur entry trigger? ur using rsi and support and resist lines u draw?