I wanted to set this journal up to help me document and writing helps me focus on my trading.
I understand that this is encouraged by the School of Pipsology but I haven’t reached that section yet.
I’m Jono, I’m 30 from Nottingham, England. I’ve had an interest in trading most of my working life but never thought I could do it. A few weeks ago after a particularly bad day at work i decided that something needed to change, I researched learning to trade and attended a seminar where I was told “pay us 7 grand and we’ll teach you how to make it back”. Or I could not give you 7 grand and I’d still have 7 grand. I didn’t give them 7 grand, I did how ever look at other forms of trading education and came across a similar scheme but this guy recommended babypips.com’s School of Pipsology.
And so the journey begins, I currently trade only virtual money on FXCM and Trading212.
Although I have made I few trades already, from this day forward I’ll document all trades here for both; Review by you guys and my own records.
Thanks for reading and look forward to hearing from you guys.
Maybe you should give away that 7k ,no one know what you can do with their strategy , the market have bias and edge once you find it you can suck whole alot from it
I was in Nottingham ages ago for a Stone Temple Pilots concert at Rock City. (RIP Scott :17:)
Keeping a trading journal is a great habit to get going! If you ever have questions about your FXCM demo, please feel free to reach out to me in the Broker Aid Station of the forum: Brexit: IN or OUT?
Many a night spent stumbling out of Rock City, Did you find the Pit and Pendulum? great rock pub, set into the caves underneath city centre.
Anyway to the point.
I read a a blog post from Pip Daddy here and decided to make my first trade logged on my trading journal based on information from the economic calendar.
First I’d had success in the past with a couple of undocumented trades based on information from the economic calendar and the expected results not quite being what was actually published.
The first I have my eye on is the Rightmove House Price Index which at last publication was 7.8 and at 00:01hrs I will be waiting for the result in order to pick whether I buy or sell based on this figure.
I don’t have a huge expectation for this to have a big difference but believe they will be movement based on the published figure. With everything concerning the UK at the moment I believe there are larger factors that will mute small factors in the market.
So for this reason I’m looking for a 20 pip trade with a RR of 1:1
The second is German PPI, now I don’t know a how lots about the German economy but i’m thinking much the same as the previous one above. Small 20 pips with a RR of 1:1.
Thanks for reading, I’ll post again after I’ve placed each trade with screenshots hopefully.
I’m sat at my laptop 25 minutes early with the economic calendar open waiting for the result of the RightMove House Price Index to be published.
I downloaded this free trading journal spreadsheet I found on this forum which is great so that needs to be filled out too. Some slight modification to turn the base currency to GBP but we are all good.
The results came at 5.5% from previous 7.8% a drop of 2.3% which i’m hoping is good for a 20 pip drop in the GBP/USD pair.
So I placed a GBP/USD trade for 15000 @ 1.4479 with a 20pip Stop Loss and Take Profit.
Thanks for the journal. It’s a nice addition to the forums. I only remember visiting Nottingham once back in the days when we used to get around various towns and cities on Sat nights I live in Hong Kong these days. I was reading that Ryan Giggs might be on his way to Nottingham though !
I can’t say as I ever heard of Mortimers Cavern or that Ryan Giggs was coming to Nottingham. I assume this is to Notts County but I might be wrong i’m not a fan of Football. I’m an Ice Hockey fan - Nottingham Panthers Season Ticket holder.
On to all things trading.
I’ve made a few trades over the last few days but been unable to update my journal’s. Got a few minutes before I go to sleep so time to update.
I’m thinking these three trades will come under some scrutiny by you guys but i welcome that and comments and discussion is extremely helpful to me.
The first was on Wednesday 22/6, its was based on a tweet I saw offering a trade to long USD/JPY. I thought I would test the credit-ability of this tweet and maybe futures tweet from this account.
So I bought 15000 @ 104.453, 104.253 stop and 105.10 target for a R:R of 3.235.
After 2 hrs and 10 minutes I closed manually for a Profit of 9.28 @ 104.548
The second trade was me trying to capitalise on the fourth coming BREXIT referendum.
I ended up shorting 10000 EUR/GBP @ 0.75999 after setting up a OCO but the market didn’t do what I wanted and with some slippage its closed at 0.76240 for a loss of 24.10
The third was the same as the first but I only went long for 10000 @ 0.76279 with a 20pip stop but NO target limit. I just felt as if this was the way things would go from information i’d read about the UK public’s opinion on BREXIT.
Checking the next morning after reading the results on my phone. I closed at 0.80820 for a profit of 454.10 - Oh how i wish that was for real money!
While I understand neither of these trade were placed with any sound thinking behind them i put them in here for topic of discussion.
So here it goes, First “trade” in about 6 yrs and I didn’t do very well.
It was profitable but my strategy was off! I was using the Afterspike Strategy from Forex Peace Army.
My entry was ok, I think but my exit was all over the place due to my phone ringing (i was at work).
Still working my way around things but needed to post or I wouldn’t have done it. I’ll review the trade and update this post ASAP.
