Good practice man. Keep up the great work!
Having a pig of a day today, went short on audusd and it spiked me out before the drop, then eurgbp turned against me.
So far about $200 down for the day and no matter what chart I look at nothing seems to line up.
Need a time out
A time out is always better than forcing trades that aren’t there. 
Well, after a quiet time with just a few ‘penny profit’ trades finally got on to 2 decent trends
GBPJPY long @ 182.013, currently 89 pips profit locked in but letting it ride with a 50 pip SL
USDCAD long @1.26409, just hit TP as I was typing this for 47 pips
Just replaced the USDCAD that hit TP with this
SHORT EURUSD @1.12974, 20 pip trailing SL, looking for at least 40 pips
Well, eventually price dropped to my SL and took me @183.463 for +129 pips
Ive re-entered the same pair after price bottomed (I hope) and turned up @ 183.515, same 50 pip trailing SL.
Lets see how this does
Most of the pairs I watch seem a bit flat for my liking, but these are worth a watch.
GBPUSD After ranging between 1.49690 and 1.52000 price has started going north and I feel there is some support offered at 1.52210. May be worth going LONG if no bad gbp news Monday.
GBPJPY Strong uptrend flattened off since 10th Feb, although still subject to massive daily swings. If no unexpected news from either side on Monday I would favour LONG targeting 184.300 short term or 188.000 longer term
Now around 1.5400 level, consolidating before another push up I think
GBPJPY Strong uptrend flattened off since 10th Feb, although still subject to massive daily swings. If no unexpected news from either side on Monday I would favour LONG targeting 184.300 short term or 188.000 longer term
Well, JPY gdp figures were lower than expected but the price dropped! Dont see the logic in that so Im sticking to my guns for a move up towards 184.300 at least
Closed gbpjpy @ 184.894 for £350
Went long again on gbpjpy after price drop to 184.219, let’s see how this goes
Another good gbpjpy long trade
Bought 1 lot at 184.414, hit tp at 184.915 overnight for 50 pips
Following a 60 pip drop, just gone long again 0.5 gbpjpy @ 184.379
Or worse yet: revenge trades!
Thats why I have 2 rules, 1 where I cease trading when ive made a preset daily profit, 1 where I cease when ive made a preset daily loss. Its way too easy to throw good money after bad, something I used to be guilty of
Well, just closed all my trades for the month. Didnt need to but its my first month of trading live and I wanted to transfer my profits out of my trading account, just leaving my starting capital to start afresh Monday. Call me paranoid but I dont ever want a situation where we get another CHF type day and the brokers let you lose more than your stop losses - if the money’s not there, they cant get it.
All in all a great first month. Made some mistakes (overtrading, forgetting my money management rules, especially the first week, until a HUGE loss almost wiped me out) Gathered my thoughts and slowly but surely pulled it back plus a bit more.
No longer taking silly risks, even when I dont use a SL I monitor the trade to ensure potential losses are within my rules. Limiting myself to 2/3 trades at a time on one pair, and only then with smaller lots than I was using earlier. Not being greedy, nor chasing trades to try and claw back losses. Its hard, but admitting that some days you just wont win takes a lot of balls. One trade shot down to my SL and cost me $250, hurt like hell until I noticed it carried on down a hell of a lot further, so I was able to pat myself on the back for saving several hundred more.
My trading style has evolved over the month. I started like a kid in a sweet shop, glued to the PC or tablet looking for a trade. Now I place a couple of longer trades, sometimes several days long, and look out for shorter (multi-hour) trades. Seems to be working so far, fingers crossed.
Ive really enjoyed this, luckily Im only using money I can afford to lose so that takes some of the pressure off.
Good luck to everyone trading live, I can see why so many fail at this but can also see why its so enjoyable.
Happy March everyone!
Hi, not posting individual trades currently as im experimenting with different pairs. Some pairs I just cant seem to win on no matter what I do, others 90% success rate.
Won 72% of my trades last month, so happy with that.
Using 3 ducks system for majority of my trades.
Latest trade just gone LONG on gbpjpy @ 183.798, looking for minimum 50 pips. Will probably split my TP into 3, 1 at about 50 pips, one at 70, and one at 100 or so.