Garu's journal

[garuhhh]

Now here is a chart showing the summary of my trades for July (a more detailed report can be accessed here):

So this month, I received -2.25%. Far from the previous month’s performance (4.3% on May, 6.27% on June)

Looking back at my trades, I have made mistakes in a lot of trades! And that’s the good that this journal gives me, it allows me to look back at my trades, and see what mistakes I need to stay away in the future.

Here is the screenshot of the summary of trades from my google document (which can be accessed here):

[garuhhh]

Here is my first trade for the month of Aug:
trade 1, a sell on USDJPY.

There seems to be a general downtrend on this pair, as specified by the blue line. Take profit is the green line (the darker one), stop loss is red line, and entry is white line. Here is the daily time frame chart:

Here is the 4H time frame chart:

There has been a consistent downtrend for a while, and there was a sudden drop in prices, and that prompted me to go for the sell. I did a mistake in the number of units (lots) I entered, and I only managed to put in a risk of 0.5%. Well at first I was not confident with this trade, so I didn’t change the risk.

The reason why there were two green lines, is mainly because I moved the take profit. the original take profit was the lighter green line in the first figure. However, after a few days this trade hit its take profit.

This trade gave me a fund of 0.59%.

[garuhhh]

Here is my trade 2, a buy on EURJPY.

I am not particularly proud of this trade i made.

I solely based my decision to buy on the upward trend since July 31. That’s it! there was no sign of upward trend (or any sign of support) from the candles. Although the stochastics says oversold, I’m not even supposed to take that as a signal to trade!

So there, this trade met a stop loss.

This trade gave me -0.55% of funds.

[garuhhh]

Here is my trade 3, a buy on AUDNZD.

There is a general downtrend on the 4H timeframe as specified by the blue line. But looking at the 1H time frame there is a consistent uptrend. I was hoping I could catch some of that uptrend. So I did a buy trade.

Here is the 1H time frame:

But after a while, I noticed a slowdown of the uptrend as if forming a resistance. After seeing that, I hurriedly closed the trade at 29 pips (take profit is 69 pips). I manually closed the trade at the orange triangle on the right in the following 1H timeframe chart:

This trade gave me 0.55% of funds.

[garuhhh]

Here is my trade 4, a sell on AUDNZD.

There seems to be a general downtrend as specified by the blue line. There has been a bit of consolidation below 1.1500 as shown in the 4H time frame chart.

What made me to fully decide to go for this trade is this formation in the 1H timeframe chart:

Stop loss is still the red line, takeprofit is the green line, and entry is the white line. Reward to risk ratio is 1.14:1.

After a while, this trade hit its take profit, as seen from this 1H timeframe chart:

This trade gave me 1.13% of funds.

[garuhhh]

Here is my trade 5, a sell on USDCHF.

There has been a consistent downtrend, as specified by the blue line drawn in the daily time frame chart:

Looking at the 4H time frame chart, candles are showing a possible downtrend, so I entered the trade.

Stop loss is red line, and take profit is green line (see the daily time frame chart) for the clear take profit line.

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This trade reached 0.9180, with a possible gain of 1%, but I decided to let it go its course, hoping it will eventually reach take profit. But after the weekends, prices went against me, going past almost past my entry.

So I manually closed this trade at -0.03%, and I’m hoping to enter again this trade if candles shows a proper setup.

[garuhhh]

Here is my trade 6, a sell on GBPJPY.

Looking at the daily time frame, there seems to be an impending downtrend.

Here is the 4H time frame.

Entry is the orange triangle on the right, stop loss is the red line, take profit is the green line.

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This trade hit its take profit, giving me a fund of 1.16%.

[garuhhh]

Here are my trade 7 and 8.

I saw a general downtrend on these pairs, but my mistake is that I took on the trade, even if they were correlated.

Here are the charts for the EURJPY (trade 7):

Daily time frame:

4H time frame:

1H time rame:

And here are the charts for the EURNZD (trade 8):

4H time frame:

1H timeframe:

Both these trades met their stop losses, (see their screenshots in the next post).
Lesson learned: do not trade on correlated pairs, even if they look like “winning” trades.

[garuhhh]

lossing trades screenshots:

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EDIT:
both trades gave me -1% of funds

[garuhhh]

Here is my trade 9, a buy on EURUSD.

There seems to be a general uptrend, as specified by the blue line.

Although the movement of the candles doesn’t look good, so I manually closed this trade.

This trade gave me -0.1% of funds.

[garuhhh]

Here is my trade 10 a sell on AUDCAD.

I saw this downtrend on this pair (as specified by the blue line), there was a big movement previously, and I didn’t pay attention to it.

Here is how the trade looked like in the 1day timeframe:

It looked very good in the 4H time frame as well:

But after a few hours after opening this trade, it looked like this:

I manually closed this trade at the blue triangle above, giving me -0.33% of funds.

[garuhhh]

Here is my trade 11, a sell on NZDCAD.

I thought I saw a start of a downtrend on the daily chart, so I made a sell.

Here is how it looked like in the 4H time frame:

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Unfortunately, prices moved against me. It met a stop loss.

I didn’t see the general uptrend channel in the daily (looks like an uptrend channel, now that I look back to it).

This trade gave me -0.99% of funds.

[garuhhh]

Here is my trade 12, a sell on USDJPY.

There seems to be a general downtrend as specified by the blue line, and prices seems to have met a resistance at around 98.50. So I did a sell.

But, this trade went on for a few days, it almost hit my take profit, then went against my direction. When it was almost about to hit my stop loss, I manually closed it.

I checked it again now, and I feel bad that I had to manually close it! aarrrrgghhh.

This manual closing of trade gave me -0.81% of funds

[garuhhh]

Here is my trade 13, a buy on AUDCAD.

There is a general downtrend on the daily as specified by the blue line. But in the 4H time frame, it seems the up trend is strong as well. So I first tried doing a sell on this pair.

But I manually closed this trade, giving me a -0.10% of funds.

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I then on decided to go the reverse, and do a sell on the pair. And this was my trade 14, a sell on AUDCAD.

Here is how the pair looks like in the daily time frame chart:

Unfortunately, this trade met its stop loss. and Until this time of writing, the pair has no clear direction to go to.

This trade gave me -1% of funds.

[garuhhh]

Here is my trade 15 a buy on GBPCHF.

There seems to be a general uptrend, as specified by the blue line.

Below is the daily time frame:

and I entered at a point that I thought was a start of a rising pattern. But I was wrong.

I was thinking the pin candle at around Aug 15, was a sign that prices will continue to move upwards. So didn’t pay attention to the head and shoulder formation.

So long story short, this trade met a stop loss.
This trade gave me -1.01% of funds.

[garuhhh]

Here is my trade 16, a buy on USDCAD.

There seems to be a general uptrend in the weekly chart, as specified by the yellow line.

Looking at the 4H time frame, prices have started to move upwards, so I entered the trade.

Prices moved towards my take profit:

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This past trades, I have constantly met trades which met their stop losses. So I was a bit afraid of loosing another trade, so I manually closed this trade, giving me a fund of 0.89%.

Looking back at this trade again today, and prices went beyond my take profit, so if I waited for it to reach the take profit, I could have gained 1%+. But anyway, I have already closed it, and it was still a good decision. I did not loose anything.

[garuhhh]

Here is my trade 17, a buy on NZDCAD.

There seems to be a general uptrend as specified by the blue line in this pair. After seeing a sudden rise in prices, I decided to make a trade.

Here is how it looks like in the daily time frame:

But after a while, I realized it was simply wrong to do a trade based on a sudden rise in prices, so I manually closed the trade, that gave me 0% of funds.

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The following day, I saw a bit of retracement on the same pair, so I decided to pursue my original decision to buy in the same pair, thus this trade became my trade 18, a buy on NZDCAD still.

But prices continued to move downwards:

So eventually, this trade met a stop loss. This trade gave me -1% of funds.

I did not pay attention to the channel that formed as seen on the daily chart that formed somewhere in May. If I had plotted that, then I could have anticipated that prices are bound to move downwards.

[garuhhh]

Here is my trade 19, a buy on EURUSD.

There has been a consistent uptrend as specified by the blue line. Well there were a couple of candles suggesting prices wanted to already go down. But I still went for a buy.

Here is how the charts looked like in the 4H time frame.

The blue triangle was my entry. Prices seemed to have a hesitation to further move downwards at around 1.3330, so I made a buy at around 1.3360.

I think my take profit was around 1.3420, and not the green line in the following image.

But I decided to manually close the trade, giving me a -0.8%. And it certainly hit the stop loss line.

But if I waited for a few more hours, and entered the trade possible take profit could have been hit.

[garuhhh]

Here is my trade 20, a sell on AUDUSD.

There has been a downward trend, as specified by the blue line in the following image.

Prices seemed to have retraced a bit at around .8990 (see the following 4H time frame chart), so I decided to go for a sell.

This trade met its stop loss, and gave me a fund of -1%.

What’s maddening about this trade is: after hitting the stop loss, it went towards my take profit!!

[garuhhh]

Here are some trades that I missed to enter. I was planning to enter them, but missed my entry because I was doing something else…

White line is the entry, stop loss is the red line, and take profit is the green line.