Nates (complete noob) Daily Trade Journal

Like many posts in this sub forum I’m gonna try to post my daily trades and losses from the live side. Yes I’m very new and am starting live this week after doing demo for a while.

Please be constructive in your criticism. Yes I know I’m making dumb mistakes and welcome constructive feedback.

Settings on ipad think or swim.
Moving Avg Exponential: 5
Moving Avg Exponential: 10
MACD: 5/10 Wilder, 10 length
RSI: 10 Wilders
ADX: 15 Wilders
(From a system I read on the trading system page.

Watching only hourly cause I get anxious when I’m watching the 1 and 5 min charts…

Starting balance: $2200

Todays trade(s):
0714: Short USD/CAD 10k 1.23887 (this didn’t go well…)
0715: Long AUD/USD r10k 0.77499 (stupid fake Xover)
0750: Closed AUD/USD 10k 0.77454 (-4 pips)
** I’m an idiot and made the mistake of watching the 5 min chart and scared myself. If i had held this I’d be up 60 pips…
0751: Short USD/CHF 30k 0.91481 trailing stop 25 pips
0838: Closed USD/CAD 10k 1.23982 (-10 pips)
1737: Long AUD/USD 20k 0.77996 trailing stop 25 pips

Closing day value: $2,302.

I think I’m gonna limit myself to no more than 5 trades a day. Force myself to slow down and try to avoid FOMO.

Well done. Keep it going as you’ll only find if it’s working by continuing despite suffering losses - which are the norm - along the way.

best of luck.

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hows your balance now? :slight_smile:

goodluck

I have high hopes lol

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Thursday 29 April 2021

Starting balance: $2,316

Apologies in advance for the lack of real trading terminology, still learning the terms…

Thoughts. I’m having a hard time determining where to put my stops and TP points. Also I know not to change my SL but is using at trailing SL a bad Idea?

Looking at:
USD/JPY - 108.967 - At 0707 hourly chart: would that be considered a rounded M or double top? The fast EMA (5) hasn’t crossed down over the slow EMA, but it looks like it might? No idea

USD/MXN - 19.95184 - At 0710 hourly chart: fast EMA crossed slow up; MACD and RSI both crossed up and ADX is above 25 (barely). why is this pair so expensive? Seems like this pair has long runs.

EUR/AUD - 1.5558 - at 0743 hourly chart: fast EMA crossed slow EMA down; MACD and RSI crossed down as well, but ADX is under 25. Probably wont buy short. BUT the reason i am looking at this is because it looks like a tiny double top, do those exist?

Continued trades:
28APR2021 0751 Short USD/CHF 30k 0.91481 trailing stop 25 pips. At (0850 it looks like this may be forming a double bottom? Hopefully not, the chart looks good still. Fast EMA crossed down over the slow EMA, RSI has crossed down and MACD is about to. ADX is right at 25. gonna let this one run and see if it will break through the 0.90 resistance.

28APR2021 1737 Long AUD/USD 20k 0.77996 trailing stop 25 pips. This came really close to my trail stop last night. Maybe I should put my trail stop at 30? This keeps bumping up against a hard resistance at 0.78173. wondering if I should sell the position or let it run. Right now (0850) it seems stuck at 0.779.

Trades:
None so far or planned.


Edit 1
Well that plan went to crap.

both my continuing trades stopped out. still made $135 (hush thats a lot for my level lol)

New Trades (No I didn’t follow my plan…)
0923: Long EUR/AUD 10k 1.56138
0900: Long USD/CAD 10k 1.23167
0856: Short EUR/GBP 10k 0.86801


Well that was a complete fail of a day. going back to demo for a while…

suffice to say I lost the minor gains I made yesterday. I’ll be testing the same plan in demo side for a bit to see where I am going wrong, or switching to a different plan entirely.

Ill reupdate after I start live again, good luck everyone!

Hey! Please feel free to post your daily updates here. After all, that is what we all are here for… to share our experiences of trading.

Welcome to the world of forex trading… Do not over expect!..Go slow pal!

I will once i get back on live trading, I figure you all dont want to hear about my paper trading exploits lol.