Trading journal of a discretionary newbie trader

Trading Discussion Trade Journals
21

I did open a 10.000 position at 100.33

I closed it at 4.30PM NY time at break even not to carry the position over the weekend and also because I should not trade during the night while I am sleeping.

Well in the last 30 minutes the market went up 30 pips! Damn! I could have made 20£! Not the lucky guy!

Also even if it is again my plan I think I should have kept the position open because the Abe’s party will win the election and this will push up the pair right away and probably I will miss the train.

Well, what to say, trading is a marathon and I will have other occasions!

Have a nice weekend everybody!

22

Good morning everyone! A new week started already!

Asian range 99.70 - 100.80

I saw a long momentus and I rushed to buy.

Long position 100.12 SL 99.97

Probabilly not very good entry. I was too rushy. The pair stopped around 100.05 and it is probabily waiting for the London market to open.

Let’s see what the European will do.

Later in the day in the NY morning we will have “Existing Home Sales” new to watch!

Wish everyone a successul trading day!

23

For the week i see the pair reaching at least last week high at around 101.80.

Everything seems well aligned at the moment but as Mr Pipslow say: Keep An Open Mind: Question the Market | Forex Blog: Pipsychology because as we well know everything can happen!

24

Stop lose hit! -10£

New position opened at 100.02 SL 99.90

After London open momentus seems short. I am rushing, revenging and over trading!

Very bad!

25

moved SL at 99.75

very bad I know! :slight_smile:

26

We are gravitating around 100

What will we reach first? 101 or 99? The big guys will decide it!

I am for 101 but I would like to hear your opinions? Anyone?

27

Pair feel heavy. Not the best time to be long or buy. Also not sure how deep we could go.

Maybe it is the good time to stay out of the market and wait for better opportunities!

28

I find very hard to cut lose short. Almost impossible.

I am too much in hurry to open position. I can’t stay without open position.

If I don’t work out this 2 huge issues I don’t have possibility to make money with trading.

Think about it!

29

Close the previous trade at break even.

Balance 225£

Open a short position at 100.13 SL already moved to break even.

This is not a rushing trade. I open it because I saw a head and shoulders pattern on M1 plus I think there could be some taking profits and short trade before the news.

Pair range 98.50-101

30

Trade close at break even.

The market is going up without me! I will look for an opportunity to short. Maybe in between the 2 US news.

31

Opened a short position before the news. I was hoping it could disappoint. I was wrong. Close trade with a lost of 4£.

I could have waited a bit longer and close it to break even but I preferred not to take risks and cut the lost short.

Balance: 220£

32

Long position at 100.259

33

The pair is choppy and it is having big problems to go up. Hopefully the American traders won’t go heavily short like the last 2 days.

I preview 2 better than expected US news for tomorrow. Or at worse 1 to 1. Hopefully we can break the last week high before heading back again toward 99.

34

Long position closed at break even during the night.

Opened a new long position at 100.044

35

Seems like that today we will be in the 99.75 - 100.50 range.

Both sides are defended with lot of bids and orders.

Probabily we will have to wait the US news to see if the pair can break either long or short.

Personally I am bull! So go short and make lots of money! :wink: :slight_smile:

36

Like always I enter the market too early and in a hurry. If I am not making money is because I am afraid to lose opportunities and I never wait for better prices.

To Remember:

Better buy once per week at a great price than few time per days at average rushing prices!

37

[QUOTE=“Trasimaco;513047”]Like always I enter the market too early and in a hurry. If I am not making money is because I am afraid to lose opportunities and I never wait for better prices.

To Remember:

Better buy once per week at a great price than few time per days at average rushing prices![/QUOTE]

Nice advice… But the main problem with me i always found prices at good… It always seems me that this price has to go up…hahahaha

38

Well, I guess until you make money that should be fine! :slight_smile:

39

My advice is you’re getting stopped out too much. I prefer to set stops at sup/res levels just outside or maybe other side of moving avg. a fixed sl/tp is too rigid. even a 30pip sl can be chewed up easily on jpy. If I were you I’d trade demo until you win more often then maybe throw some money at it. Good luck. If you post screenshots of your trades folks might offer friendly criticism.

40

Maybe Trade h4 and higher timeframe to slow the rush of price movement a bit. It’s not nice missing big moves, heck I missed a few hundred pips this week, but I missed some big losses too.

Don’t try to win, try not to lose. :slight_smile: