Hello world, come back again to my trading journal.
Trading forex is not an easy way to earn, oout there, are so many sellers scattered offering a profitable trading system with a high price and expensive, I don’t believe the promising too good to be true because already I see many investors forex losing money because enter in their trap, like buy a robot with guarantee profit, despite they show profitable proof, to make sure buyers, typically forex trading is risky, guarantee profit is impossible in my opinion.
However, forex trading could be profitable if we can understand and discipline to obey rules trading strategy, money management, and risk management. Why risk management is important is because market movement is dynamic, sometimes unpredictable moves rapidly without notice.
Forex trading in my view is how to manage the risk to make money, with looking best momentum trading.
Despite this is not an easy task at all, however still possible to do so, let’s get inspired from the first rank at standing position Forex trading championship 2023 now accumulating profit of more than 600%, this is great
Hello world, Friday market is the last chance to speculate in the forex market.
Come back again to my trading journal with FXOpen. Today my eye just looks at Gold, I see the price tends in a bearish market, and also oil price, oil prices dropped again to a low of 70.99 from a high of 74. EURUSD, I see the price also tends to be bearish, but look at the low timeframe this is a high volatile pair. Now my eye looks at EURJPY, and because the price is already near the upper band line, I suppose this is the resistance zone, and here I put the pending order buy limit near the MA line.
Hello world, how are you today, I see the Sun lighting the earth and quiet hot today.
Back to my trading journal with FXOpen. Here I just writing.
The contest TickTrader challenge already starting, there are participant who already collected profit more than one hundred percent, probably they use big lot size, and there are who decreasing account more than 50%, maybe using big lot size and fail analysis.
In the TickTrader contest, all trader compete to become winner during contest period. Here is free to join and we can learn trading using new platform TickTrader terminal.
However besides using TickTrader, we can use another platform like MT4 and MT5, here I use MT4 and today try to open buy at EURJPY, maybe too late but still hard to keep discipline.
Hello world, how are you today, I see the Sun already above the Horizon, the light shine dropped to the leaves between the trees.
Back to my trading journal with FXOpen. Write anything about forex.
I also joined in the contest TickTrader challenge, but still hard to growing account, yesterday I try to open seel at GBPUSD since I see the trend major in bearish market. However the order still dragged in loss floating, hope today the price will drop and formed near low again to continuing bearish market.
Yesterday I also open seel at EURJPY, but unfortunately the price dropped and hit stop loss. Its may fault because the price already near resistance zone but I bet to open buy with expectation the price will break upper band, but in fact the price is dropped.
Today I try again buy EURJPY, I just think yesterday the price only move retracement and will continue bulish.
Hello world, how are you today, I see the Sun already show face behinds the trees.
Back to my trading journal today.
Yesterday still make a mistakes, my open buy at EURJPY eventually hit stop loss, this make a stress minds because facing several loss. However in my minds still want to try again. Today I just look oil price, dropped below 70, and I think the price already near lower band line, in this y with stop loss below lower band line.
Hello world, how are you today, I see the Sun already above horizon, the light shine dropped on the road.
back to my trading journal, here I just write anything I like in the journey trading with FXOpen.
Trading still not easy, mistakes and mistakes often occurs in forex trading, loss again trading on oil. buy order hit stop loss because oil price continue decline.
OPEC meeting news still can’t driven oil to rise, even economic data from China dissapointed make oil price plunge to low 67.
Now I try to buy on gold, two days gold tend to bulish, hope continue today.
Yesterday, I open Buy on gold, yes on gold set stop loss, and expected the gold price to rise high. And what is the end? Gold price eventually rises high, however, my trades did not end with profit, because before the gold price rising high its retrace and hit stop loss, so the final result still in the loss.
Maybe these conditions often occur not only to me, but other traders could experienced. This is like dilema, using stop loss, in other side stop loss aim to protect from bigger loss, in one side stop loss could mising opportunity to reached profit.
What should do? I think we need to always set a stop loss because we never know where the price will move ahead. If we know exactly the price will stop at a certain price, we can put stop loss away from its price. But because the price ahead remains a mystery, stop loss is needed to manage the risk in an uncertain market.
Come back again to my trading journal to write trading diary.
Open the chart MT4 terminal today, my eye watch oil price occuring large gap where the opening price far above closing price of previous candle, the gap occurs maybe because OPEC meeting on June 4 a days ago. In the discussion OPEC will reduced production cut to 4.5% global demand. and the result oil price jumped to high 74.
While BTCUSD seems move on sideways market, the price BTCUSD still traded 28k and 26k level prices.
Gold market, here I see the price decline again to 1049 as before tries to cross middle band line at 1980.
Gap also occuring on gold but clearly seen from M15 timeframe. Today I try to bet on gold again open Buy because RSI shows the price in oversold zone level.
Hello world, how are you today, the SUn still behind the mountain on west, the light still cool.
Today come back to trading journal with FXOpen,
Yesterday open buy on gold eventually hit stop loss because gold price continue to decline. Gold price hit stop loss and rise again. Gold characteristic high volatile market when only use tight stop loss often hit by the market movement.
Now gold price tries to reach the middle band line, today not yet open trades.
Back to my trading journal with FXOpen. Here I write about.
The winner contest trading demo account title TickTrader challenge already announced, there is 6 winners get the prizes in their TickTrader account, from 119 participants traders only 6 traders fulfill the term condition contest. It is means all traders has the same chances, however the result will be different, so don’t give up.
Today my position buy gold still in floating, what will I do now? the prices not dropped reached my target, even seems the prices is rising back to early track.
Hello world, how are you today, I see thr Sun already above horizon, the light quiet hot to lighting the earth.
Back to my trading journal with FXOpen, here I write anything.
Yesterday gold position eventually hit target profit at 1942.76. Today I tries to open buy on gold, because I see based technical data, the current prices is near previous low, it is possible becomes support zone.
Back to my trading journal, open MT4 and watch the screen.
Still face floating buy position on gold, yesterday even though the gold price rising high, however not hit target profit and the price bounce back to low near order price.
Stoploss still not yet hit and target profit also not yet hit today.
Hello world, Monday market is open, new hope come again in this week.
Back to my trading journal with FXOpen, write anything to motivated.
Monday market, no gap occurs, Gold, oil, EURUSD, etc looks in normal chart. Today I am not yet open any trades and the end order hit stop loss despite the Gold price eventually rise high, unfortunately the price drop first and hit stop loss. Gold price break 1937 and down again before eventually rebound and reached 1957.
Hello world, how are you today, I see the Sun still shy to show the face in this morning around my place.
Back to my trading journal with FXOpen.
Yesterday Gold price still move low trading range, despite the price formed bearish candle, however still in consolidation zone. Now price is 1951.71.The Bollinger band narrowed which means the market decrease volatility.
I still doubt want to open trades here, despite the price still seeming to move in the trading range, the high volatility of Gold is often dragged into the loss.
Then move to the USDJPY chart, and I decided to try an open buy on this pair because the Monthly timeframe shows bullish, and the weekly is also bullish, and the more I hear about Warren Buffet increasing investment in Japan.
Hello world, how are you today, I see the Sun rise above horizon around my place.
back to my trading journal to write anything about ins and outs of forex trading.
Open the chart MT$ FXOpen, scrolling the chart open BTCUSD chart window, I see BTCUSD now move higher to above 30k level prices, the consecutive bullish in two days with strong movement make a wonder, because in last week BTCUSD under pressure. This is different with Gold or XAUUSD chart, the price of gold still under pressure and the market seems lower volatility.
Hope will happen sudden movement of gold to siny again. Now gold price near 1937 level price and time tries open buy.
Hello world, how are you today, back to my trading journal in Friday market, the last day in this week market.
Yesterday I just open buy on gold because the price already near support zone, however today my order in loss floating, and near hit stop loss. The Fed chairmand Jerome Powell told to congress will further hike interest rate could make gold price dropped more.
Hello world, how are you today, I see the sun still shy.
Back to my trading journal with FXOpen.
This is the Monday market, and just a little gap is seen on the pair like EURJPY and EURUSD, the gap is only seen in small timeframe M5.
I see trading histories in the last order hit stop loss again on gold, open buy on gold with stop loss 1911.51 and hit by the price.
Trading forex is not easy, loss sometimes still occurs despite not being expected, really trading forex needs patience. Today I have not yet open any new trades and I think still waiting.
