Trading journal of a discretionary newbie trader

There you go! Should I have trusted my first idea? Probably but I was afraid to miss the train.

Forex is definitely a very hard business for me!

Stopped out at 98 and lost 9 pips.

Long again at 98.07

Total: +135 pips

Closed at 98.20

+13

Total: +148 pips

I will be looking to short around 98.30-98.40 for a 50 pips profit. I will keep stops as tight as possible.

Or maybe buy back again at 98.

Good job Tras - nothing wrong with 148 pips any day.

I managed the princely sum of 6 pips today - was short cable and could smell the whipsaw coming so exited just before it - bet my smile was as big as yours :slight_smile:

Nice one, just curious how many charts are u on at once ?

I guess saving pips, cutting losses and make as few mistakes as possible is way more important than making pips. Everybody is able to earn at least some pips when the market is moving in the right direction! :wink:

I mainly follow USD/JPY. I also check prices action and movements for some USD pairs like EUR/USD, Cable, AUD/USD and USD/CHF

Ok then seems like we are in the range 97.80 - 98.50

There were few opportunities to make some pips up and down but unfortunately either I was sleeping or I couldn’t follow.

At the moment I don’t really see opportunities. Maybe I should stay on the sideline for a little while but then, am I able to stay out of the market?

Short AUD/USD at 0.9095

ST 0.9115

Closed and made 3 pips!

Total: +151 pips

And of course It just started moving in my direction! hahaha :slight_smile:

nice work , i am still holding out , i am aiming for .9000

Good luck with that!

Short USD/JPY at 98.10

SL 98.30

Very bad entry and also the sentiment is clearly long. Having problem to accept this lose and cut it short. Want to move the stop around 98.55. Very bad moment.

Weekly r1 at 98.32 has held so far -I scalped up to that AS - (I know slight pierce but that was coming off daily PP )-may see 98.07 before NY close - will know shortly.

In the first place I wanted to wait 98.20 to enter but I was afraid to lose the train and got a bad entry at 98.10

Patience is very important in trading and I need to work on it!

I couldn’t follow and missed the opportunities to close at break even or even make a few pips. Now down and hoping. ST 98.35

Close the trade to break even.