Nisar's trading journal

Hello every one. I’m tempted to start my trading journal.
my trading style is very simple.I usually trade support/resistance, candle patterns, couple of moving averages and couple of oscillator. I also use Elliot wave to determine the trend. i’m not master in Ew but learning it and found it very useful.
the trade i put today is here.
erurusd long. we have a PB at the support and entered at about 50% of PB. I got the confidence for this entry from EW which usually corrects at the bottom of W4. i have already covered the half of the position at R:R !:3 and final target is @ 1:6. SL is placed at BE, so virtually a no risk trade.

I have spotted a trade on audusd daily TF. this is a bat pattern. it is a reversal pattern, elliot wave 3 is completed. a good place to go short.

my trade on eurusd is kicking along very nicely. 130 pips profit has been locked for the remainder half of position. i could have closed the trade had I been near the computer when it returned about 4 pips from the 2nd target. hopefully it will attain the full target.

stopped out with 160 pips profit on remaining 260 pips.

I entered short on this pair after the formation of PB, hoping it to go down. its reversal trade so it may take some time before embarking on down journey.

one more idea in nzdusd. i’m waiting for the prices to go little further to complete the level at 161.8. its a nice butterfly pattern. SL should be placed about 50 pips above the level. if it goes where I want to see it, it will also touch the weekly key level of resistance. for conservative trader, they should wait for the reversal candle pattern. wish u all lot of happy pips.

I have a very nice set up based on pure action. I have an IB followed by a fakey candle. i put up a pending order at the top of MC, SL is below fakey candle. risk reward is 1:3. can be adjusted accordingly. its a daily chart so SL is a little bigger.
comments are welcomed traders. we put trades here to learn from each others experience. hope u lot encourage me.

entered another trade using pin bar with the trend. placed the pending order at 50% of pb. if price retrace to that level, my order will be filled.

a signal is generated on H4 TF which is supported by divergence on macd and rsi. though these signals are more reliable on daily and weekly charts but I took the chance as there are some other factors like chart patterns as shown in post no 15 support the cause.

entered short on gbpaud on a fakey set up.this is an aggressive entry.if successful, very fruitful.

entered short on gbpusd daily TF at the completion of cypher patter. this is an advance pattern. success rate is quite high on this pattern but this time of year don’t know, as the liquidity is very low.

I got stopped out on eurnzd for +312 pips and nzdusd for +60 pips. however lost on gbpaud for -119 pips. i analyzed the reasons for being stopped out on negative side and decided to change my habit of entering the trade. hope the technique will work.
moved the SL on audusd to BE,audusd is up by 56 pips but gbpusd is still in negative territory and down by 21 pips.

I shorted couple of trades, eurnzd H4 and euraud daily. charts are self explanatory.

I’m short on gbpnzd. my chart is self explainatory. any suggestions from the fellow traders would be welcome.

in the above trade of gbpnzd. it was well poised set up but the market turned against me and close very bullishly. still in trade but pound seems stronger.

Thanks for the journal Nisar. Can you explain what you mean by fakey set up? Also, which indicator do you use to find the Harmonic Patterns? Lastly, what pairs do you trade?

thanks and keep the charts coming.

wannabee thanks for ur interst in my juornal.fakey set up is a false break out of a key level of support and resistance. if we have an established S/R, we have a candle close below it, then we have an inside bar and the third candle break above the S/R and close below within the range of mother bar(1st of 3), then we have a fakey set up.
I donot use any indicator for harmonic pattern. u need to know how to use fibbonacci tools and the measurements of pattern then its very easy. I use MT4 platform. I go to insert icon, shape and triangle. select three points and u get a trianle , then u select next three points and u get another triangle. this way u can draw the patter.
for the measurement of harmonic pattern u can google it for gartley, butterfly, bat, crab. cypher patterns etc.
hope it will help u.

wish u all a lot of happy pips in 2013.

I hope new year will bring us a lot of good trades and success.we need to strive and work hard. success is just round the corner.
I put the first trade of year 2013. it was a very small trade on small TF. some time small pips are very useful. thats what i did. My R:R was 1:1. my first trade of the year took little over 4 hours and hit the profit taget. I used couple of indicator. one ema and oscillator. I usually don’t use any indicator but on small TF.

these charts are for illustration and future reference and not to show off. this is the only place where we can save the trades for a longer period and can consult whenever we want.