Trading journal of a discretionary newbie trader

Woke up a few minutes late and lost the train (USD/JPY) in the morning! :slight_smile:

Will we go down all the way to 95? Could be but I can decide if to join or not. I am afraid I am too late. Better to wait on the sideline.

Short Cable at 1.55077

SL 1.5512

Trying to pick a top here. If I am wrong It shouldnā€™t hurt much and I can try again later.

Moved the stop to 1.5512 and got hit at 1.55121

Probably a mistake. We will see.

Seems a ranging session waiting for the NY session to start.

Lost 4.4 pips

Total: +76.3 pips

At the end I saved 3 pips. I could have moved it at break even and saved 4.4 more.

Opened short AUD/USD position at 0.90561

SL 0.9065

Not sure I chose a good moment.

Hit at 0.90652

Lost 9.1 pips

Total: +67.2 pips

Feel like I just entered the revenge mode. Feel angry at the market and feel the need to make pips. Not the best state to trade for sure.

Opened short AUD/USD position at 0.90666

SL 0.9070

Hit and lost 3.4 pips

Total: +63.8

Opened short USD/JPY position at 96.231

SL 96.45

Over trading. Maybe it is time to take a break.

Moved stop from 96.30 to 96.45 before getting hit.

I went out and couldnā€™t follow. I set a take profit at 95.85

The pair went up to 96.46 and killed my position for just 1 pips before reversing down and hit my take profit.

I guess that is the main reason why a lot of traders go broke. So many times we got stopped out for just one pips and lose some nice profit. Angry for that later on we decide to go without stop lose however usually this just brings margin call after margin call and failure.

I lost for just 1 pip. Again. It is all the time like that. :slight_smile:

What to do!? Nothing much. Write it down one more lose and keep trading you plan. The market is always there waiting for you. Tomorrow will be a better day for sure.

Hit at 96.453

Lost 22.2

Total: +41.6

It is not the USD day but I will try to go for it one more time!

Opened short EUR/USD position at 1.33911

SL 1.3400

Moved stop at break even and good night!

Lost 10 pips overnight

Total: +31.6

Short AUD/USD at 0.9147

SL 0.9155

closed at 0.9164

-17 pips

Total: +14 pips

From next week I will try swing trading as day trading is too time consuming and I donā€™t want to spend the rest of my life watching charts 24/7.

SL up to 100 pips. TP from +0.5R depending if the market is ranging or trending.

You know what Iā€™ve done recently? Downloaded a computer game so that when I feel emotional and trigger happy I go play my computer game, and force myself to maintain trading as a no-emotion business where you are working with probabilities. XDDD

Long USD/JPY at 96.55

SL 95.50

Looking good so far - good luck with this one.

Thanks Paterma! :slight_smile:

Set a tight stop and got hit at 97.85

+130 pips

Total: +144 pips

The pair could easily reach 100 this week however I decided not to be too greedy and bank something. It could be possible traders will take some profit before the NY news. I could maybe buy it again later or consider some other pair.

I will try not to overtrading from now and wait for the best opportunities. Letā€™s see if I am able to do it.

I am long again at 98.09

For sure I am not happy I cut my previous trade too early. I though traders will maybe take some profit but it looks like there is a good momentum and we could arrive at 99 with good US news.

Letā€™s see! :slight_smile: