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Pan's Trading Journal


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Pan's Trading Journal

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  #1 (permalink)
 panjm 
Singapore
 
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I decide to create this journal for my personal use.

Yesterday I suffered a meltdown when I went into revenge trading.
Hopefully, next time when I feel like re-entering trades immediately due to stops being hit, I can force myself to stop trading and post the trade in this journal.

Regards
panjm

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 panjm 
Singapore
 
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I might as well post my current trade, so that this journal is not empty.

EURUSD:

Entry: 1.2936
Yesterday 7pm EST
On 4 hour chart, there is a reversal candle, so I took a short.

Stop:
1.2985

Target:
1.2848

At the time of this writing (9am EST), price action has reverse against me to 1.2924.

I need to hope for the best ...

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 panjm 
Singapore
 
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Stopped out with PnL: -49 points.

I put on a small size for this, to practise holding on to position without moving stops and targets.

However, luck and probability is not on my side again.

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 panjm 
Singapore
 
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EURUSD:

Entry: 1.2995
7am EST
On 4 hour chart, there is a reversal candle, so I took a short.

Exit at:
1.2948 the VPOC of the last swing

Then I fancy the price will continue lower and open another position,
but price rebound slightly and I panic and get out, lost 8 points.

Price go south strongly and I enter again:
Entry: 1.2925

Exit at:
1.2908 near the lower peak of last swing's volume profile.

Price goes lower, in hind sight I could have hold onto my position.


PNL: +56 points

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 panjm 
Singapore
 
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EURUSD:

26 March:
No signal, but still took some random trades.
Need to avoid committing this bad habit.

Points: -5


27 March:
Price broke down strongly through previous swing low 1.2840
Entry: 1.2827
Took half profit at 1.2791, move stop to BE

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 panjm 
Singapore
 
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EURUSD:

27 March (continued):
Exit remaining half at 1.2780
Points: +41.5


28 March:
Price retrace then broke down again to the low side at 5pm candle on 4hr chart,
but then it totally reverse back.
Entry: Buy 1.2807
Exit: thought that it will go back to 1.2850, but it stalled at 1.2840 and comes down, so exit at 1.2826.
Then I went into unplanned trades by scalping the 15 min chart. It is dangerous for me and I am lucky to come out with +3 points.

Points: +22


Summary of 21~28 March Trade
Performance: +65.5 points


April Trade Plan

I decide to double my position size for April.

Stop:
40 points (full size)
80 points (half size)
I can sleep peacefully with the size of this stop.
It will take 5 full stop-outs for me to consider it a meltdown.
(5 full stops == 1% of my trading capital)
I will move my stops to BE when I am 20 pips in my favour.

Exit
I will try to place limit orders 1:1 or better.
I may take half profit when my trade hit 1:1.
I may even take full profit when 1:1, to build up some confidence first.

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 Cloudy 
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Hi, interesting journal. If you don't my asking, which broker are you using to trade $EUR/USD on NT? Thanks.

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 panjm 
Singapore
 
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Cloudy View Post
Hi, interesting journal. If you don't my asking, which broker are you using to trade $EUR/USD on NT? Thanks.

Hi @Cloudy,
I am just using NT for charting purposes. and trade through local brokers.

Regards

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 panjm 
Singapore
 
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EURUSD:

1st April:
Bank Holiday: should stay away but I traded the 15min chart. Loss 13 points.

2nd April:
I am looking at 1.2880 level for reversal, and during Asian session I thought I saw a reversal below this level.
Enter at 1.2846, stopped out at 1.2876
Loss 30 points
Note to self:
Should wait for European session to start on first day of week before any trading. Since Monday is holiday, Tuesday need to wait for European start.

After European session open, I saw a proper reversal bar, so I short again.
Enter at 1.2868, Exit at 1.2819 just above the lower Volume Profile peak (it is also just above 50% retracement)
Result: +49 points

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 panjm 
Singapore
 
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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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 panjm 
Singapore
 
Experience: Beginner
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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:

EURUSD:
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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