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Pan's Trading Journal

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Pan's Trading Journal

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  #11 (permalink)
Experience: Beginner
Platform: MT4
Trading: Forex
panjm's Avatar
Posts: 143 since May 2012
Thanks: 262 given, 467 received

Trade #1:
3rd April
Saw a bullish reversal bar, enter at bar close. Exit with 25 points.
But immediately the next 4hr bar becomes very bearish in the 2hr mark, so I took a short.
Of course this 2nd bar become fully bullish at the 4hr close, taking out my 25 points stop in the process.
Result: 0
Lesson: if my strategy is to wait for bar close, then I must wait for the 4hr bar close to make a trading decision.

Trade #2:
4th April
Price makes a 100 pips drop, then moves back up.
During the down and up move, I try to trade it and makes 4 trades but the net result is break even.
I should avoid violent moves like this: I will be either entering too late or not sure when the direction is going to change.
Result: 0
Better to stay away.

However price fully recover the 100 pips drop and continues higher.
When price breaks the previous bar high, I enter on small size and get 15 pips profit, afraid to hold longer.
But of course price continues to move higher.
Result: +15
Moves like this are taking out many stops in the market. Next time if I have the patient to sit out the original 100 pips move down, and then the subsequent big 100 pips move up happens: I can consider to enter full size at price break and hold longer.

Trade #3:
5th April
A daily bullish engulfing bar pattern is forming just before NFP news. I took the risk and place a buy stop at the top of the engulfing bar (1.2950). The risk pay off and I exit at 1.2995.
Result: +45

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  #12 (permalink)
Experience: Beginner
Platform: MT4
Trading: Forex
panjm's Avatar
Posts: 143 since May 2012
Thanks: 262 given, 467 received

My part time trading has not been going well. Down from March.
Hmm ..
Today there is an interesting trade, I record it here for my future reference:

3rd attempt to push down from 1.3000
Entry: 1.3020
Exit: decide to exit at 1.2978 and call it a day.

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July 2, 2013

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