Mordengaard's trading journal (sort of)

Same. I can only do 1D/Weekly.

I’m on holiday right now but I have opened several positions last week, still holding them. Only daily and weekly charts.

Update later. :slight_smile:

My balance is $550.

Last week and the week before that I opened several positions according to weekly and daily charts. I left those trades open for a week, or until it reached a certain TP. I like this kind of trading.

On the weekends I look at every pair and try to analyse the setup. Also, I compare line charts and look at correlations, very useful in the long term.

I already know which pairs I’m going to trade next week and I’ll leave them open for a while. This way I don’t have to look at the charts all the time and I’m learning to be more patient. Sometimes the position goes into negative then after a few days it turns around and go to the right direction, so it’s worth waiting.

Recently almost all my trades were profitable, thanks to the daily and weekly chart analysis. Except one… the USDZAR pair. I like that pair but I let it run too much and, while the others were profitable, this one gave me a bigger loss. So I’ll be more careful with this pair in the future. This is why I’m still at $550.

I’m using 0.01 lots so I don’t risk anything. :slight_smile:

This is what I’m trying to do as well! It’s much less stressful vs. trying to fit in trading with work. If it’s a busy day, having to look at charts without any idea what to do can be overwhelming.

Had to wait for my short GBP/USD for weeks before it became profitable!

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Well done :slight_smile: I agree…

Nice!

Sounds like you found your Niche! Congratulations

KC

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How’s it going?

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Hey traders,

Sorry for the late update.

My balance is $521 now. Last week it was a bit confusing because positive US numbers had been released and still the dollar weakened after Wednesday. However, on Monday and Tuesday I raised my balance above $600, for the very first time ever.

I only traded the Dollar index last week (DXY). It’s interesting because the DXY weighs against all the other currencies. The EURUSD moves exactly the opposite direction so it doesn’t really matter if you trade the EURUSD or DXY, I think.

But I couldn’t open a small position with the DXY. Couldn’t input 0.01, only 1. So I had to risk a bit with it. That’s why I got above $600 then, confusingly, below $500. After that I managed to get it back to $521 by Friday.

I think technical is as important as fundamental analysis. Even though there are positive numbers getting released, it can be still bearish because of the technical side… I guess… Just look at the DXY last week and you’ll see.

I still think the Dollar is going to strengthen in the long term. BUT… the mid-term election is happening this week so I’m a bit afraid of trading. Anyway, I still think I’ll open a few positions according to daily and weekly charts. (any pair)

Well, I’ll update later this week, because you know, I’m a swing trader. :wink:

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Balance is $535.

The $$$ strengthened last week and I took advantage of it. Next week I think it’ll be the same. Looking forward to it.

It’s so refreshing seeing updates regarding your balance and thoughts about how the week was. Hope you don’t get tired of doing this - you have folks like me reading them!

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Thanks for your kind reply. :slight_smile:

I like to update it at least once a week. It’ll be great to read it again some time later… And hope others can benefit from this journal.

Update coming soon. :slight_smile: I’m shorting a few pairs.

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New record, balance is $630.

I shorted EUR and now waiting for an opportunity to enter another position, I’m planning to sell it again but I need confirmation to break the neckline (weekly EURUSD has h&s pattern).

Update:

I’m back to $500… Just where I started. Thought the $$$ would strengthen but it didn’t. So tomorrow I’ll just look at the weekly and daily charts again and open positions on a few pairs and will try to hold them. :crystal_ball:

:cry:

Oh damn. Hope this week’s a lot better!

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Thanks, I’ll update later. :slight_smile:

What are you trading this week?

Closing this week with $530. Up from $500.

Hi M,

How you doin so far? Mind if you share some of your insights of the pair you are trading? Like why you decided to enter long/short?

Thanks and keep on pippin’!

Closed my GBP/USD trade a while back, made a bit there. But then I shorted USD/JPY just a few days ago aaand got stopped out.

This is awesome.

It’s been a long time folks! :smiley:

Happy New Year (19 days later lol) and welcome back to your trading journal!