Trading Journal

(1.7.13)  How can I make more profitable trades?

1. Trade to 1.6 and then reverse that and trade opposite (e.g. this morning with GB/JP & EU/JP)
2. Plot the trade so its saved and then go over it looking for any clues and journal the findings
3. Keep in mind that when you think putting a SL above an even number (e.g. GBP/NZD 1.92) many others have thought the same and the market is going to out smart them all.
4. Feel the emotions and feeling of a successful trade before you look for it 
5. See the market from what a loosing retail investor would do and know the market will take him out

(1.9.13) How to make a journal / table that teaches me the most about my trades right and wrongs?
             How can I take notes that can help with my future trades the most?

1. Write what you are feeling at the moment of trade
2. Which strategy you are using
3. What date/time you are making the trade (which day or time has more chances of winning)
4. What is your SL (risk) Target (profit)
5. Why is that your SL and your Target
6. Did you use smaller time frame to enter, what time frame?
7. Did you use another strategy with this one?
8. Did you feel the trade and what how you feel
9. Did you use other tools, e.g. Fibonacci and what level/s
10. Are you using other charts (dow, dx, or another pair) or their support or resistance?
11. Use audio to log in ideas and feelings at the time of trade?
12. Am I taking extra risks on this trade like wanting to go in early so I am disregarding a rule or betting more because I want to come up?
13. How to  beat the sideways action where the market takes most of your loses?
14. Journal your entries on Thoughts you are having
15. Look over which pairs paid and which ones didn't pay and see if you are better off not trading those pairs.
16. Go on and trade in real time and draw on chat and then analyze what went wrong (like AUD/USD done over the weekend) 
17. Highlight or takes notes as you are in a trade and re-analyzing it (e.g. highlight fibs etc) write this down so you can use it later 
18. Look at Fib responds to price
19. How are waves different on Fibs (12345 vs ABC)

How to give the most profitable trade signals?

1. Back-test strategies before use
2. Real-time trade and test strategies
3. Mark current trades, both loses and gains, to see how I traded and what I couldv'e done different
4. Read all strategies one by one and use the ones that seem like they will work and go forward with the next step
5. Give a buy/sell price, a stop loss and a tgt
6. Have signals ready before hand
7. Where SL is bigger trade less lots and vice versa
8. If the pair moves a lot in pips trade with lesser lots but more frequently or with more importance on these pairs then others (e.g. GBP/JPY over AUD/USD)
9. Use more strategies on lessor time frames on bigger pip pairs (e.g. GBP/JPY)
10. Find other traders trades and plot them on your chart (like you are plotting ur current trades) to figure out newer strategies
11. Visualize you feeling all the good feelings of giving profitable trading signals and seeing those people being thankful to for your service and feeling great about it
12. Analyze all majors to get an idea of where they are headed on the same time frame to maybe give you a better idea of where your pair may be headed
13. Check for major Support, Resistance, Trend lines, Moving averages for pair
14. Believe that you are successful and only see trades that are profitable
15. Use only strategies to trade
16. Trade bigger time frames (4h, 1D etc etc.)
17. Know if there are any major news coming out for the pair you are interested in trading
18. Let gains run, cut loses early
19. Get a general consensus of the pair/s you are trading from twitter etc
20. Practice, take notes and write journal on what went right or wrong or both
21. Act as you always get the right trades at the right times and the emotion will bring you the right trades at the right time 
22. Be smarter than the market, it doesn't give you full candles under 25F or over 75F and takes off to hit 127%, make it your goal to be smarter than it 
23. Feel the emotions you would feel if you were sending out the most profitable signals (best trades at the right time and getting the most profit from them) 
24. Have the image that you would get from a very successful profitable trader who knows how to make money from the market 
25. Always put the strategies that are proven first, remember this when you are trading new strategies or trying something new out and are doing good remember to keep checking those strategies because the loses you may take will be easily made up by those strategies that are proven

  Thursday 1.10.13

1. Use fibs on m1 to up your SL, when 0.00 Fib is breached the wave has stopped
2. Keep moving your stops up to just below the 0.00 
3. Find Fib levels to take profits when trading huge lots
4. EUR/USD went to 1.6 etc and came back to 1.00 and then rallied again
5. H4 candles are more predictive than lower time frames and right now (1253pm) all my trades are up and they could retrace a lot, this is when you use the m1 with fibs to get out and then get back in later when the 75 is crossed
6. Know the levels of support and resistance and 200 ma 
7. When measuring waves (m1) look for the zig zag and plot that to be 75 Fib and also most likely the price will bounce of the 25F. Look for full candles that breach this 25 or 75 but then don't give another full candle (tricking traders).
8. Like today the GBP led the other pairs, yesterday AUD, wonder if there was news in GBP that became the leader the other pairs followed
9. When you are feeling that winning streak and are in most control of (feeling) market then risk more in quantity and always keep your risk (how much you are willing to loose in mind); SL
10. How to trade the opposite, when 75 fails how can I trade to make pips still?
11. Look out for support and Resistance (maybe even fibs) on DX and DOW
12. Combine #41 h1 with when the new hour candle opens use fib 75 to enter after full candle.
13. RSI is a good indicator when trading on m1 etc you can watch the close above 50 or below to get out with a smaller loss or take gains.

Tuesday 1.15.13 - 253pm
I just traded a few lots for a quick 15p gain with al 10p. I plotted the wave on a m1 (EUR/JPY) after its crucial drop. Put SL under last low and the last few lows were higher than each previous one.

Fib Notes:

1. Fib: when you plot the fibs you plot going forward by putting the last retracement to exactly 25 fib and project where it goes from there. 
2. When plotting Fibs I try to get waves 1-3-5 to equal to something, whether 1 equals 5 or 3 is 1.6 of 1 etc. (Rule is that 3 in never the shortest wave)
3. Rules:
1. Wave 2 cannot retrace 100% of Wave 1
2. Wave 3 cannot be the shortest wave but doesn't have to be the longest
3. Wave 4 cannot enter the Territory of Wave 1 
4. Waves 2 and 4 usually retrace 62 to 80% of previous wave

  

Saturday 1.12.13

• AUD/USD (Analysis of #41 h1, 12/8/12 - 1/9/13)
• You are taking too many loses by not setting sl just below/abv signal candle
• 1 weekend trade had a SL of 20pips but it opened -85 pips
• You have to put SL at BE after 1.6 of signal candle is hit (sometimes it is 1pip away from 1.6)
•  And you are going in way too late, like playing another strategy on top of #41 after it has run up a few
• When the cross over is very close (like 5 pips or less) to your SL might as well wait for SL because market can trick you then run, but if its crossing over (75ema or Middle BB) but SL is far away then you may want to take the loss thus keeping loses smaller (smaller loses very very important here)
• This market is very smart so respect its intelligence but still try to be smarter than it, because by triggering your SL in some cases it will run big.
• Look back over over no Tuesday theory and Time best to trade theory
• You may trade where the BB is crossed only when its in the same direction as the last cross of 75ema
• This pair is tough to trade, don't go in if you didn't go in on the next candle after, especially once its hit 1.6 Fib.
• Looking over my trades done so far it seems that this #41 would work better on h4 rather than h1.   

 Tuesday 1.15.13

• EUR/JPY (Analysis of 1-4 candles)
• When falling the 75 (or 25 in some cases depending on how you measure) can tell you that the trend is strong or weak. The 50 is when????
• I missed bigger profits that happened 3 times which could have been a good way to trade the swing and walked away from this trade with around 26pips (possible was +110pips )
• I missed last night trade (around 10pm) when I was looking over this pair again after I had taken too many loses again and was feeling down and I didn't go in but my strategy went to work and it would have made up my loses overnight (right now 1/17 326pm +230pips). Have to keep separate the strategies that have been tested to work and have to go over those each time incase a trade is triggered.

Wednesday 1.16.13

• EUR/USD
• I used the signal candle (1/16 - 7am) to plot the Fib and used the high of (1/16 - 11am) candle which is also above 75 fib to use as the SL area. I can also on a smaller time frame use the last signal candle (1/16 - 12pm) high and low to plot Fib and then then use bring my SL lower to this candles if a breach and close happens above the 75 fib of this candle. The 75ema is also a good place for a SL.

Thursday 1.17.13
AUD/USD I went in because I thought I had the waves figured out and thought it would double top but I was wrong and plus I ignored how the pair bounced from its 1-4 candles Top line as support. 

Monday 1.21.13 - 344pm
EUR/JPY went long after the retracing 50%, I think this is ....

Tuesday 1.22.13 - 306pm
GBP/USD went short on bearish cross of BB with tgt @ 1.2 of signal candle using Bid as tgt.

Tuesday 2.26.13 - 653pm
Why am I not consistent and passionate about my trading business?

1. I don't succeed often and thus get bored with failed trades
2. I feel like I don't understand what I am doing anymore not able to use what I know
3. Because even when I win its not much money
4. Trying to keep emotions out
5. I believe they are against me or my name
6. All my tools for this trading business aren't good to use
7. Sometimes I am in so much self-doubt that I feel this isn't for me
8. I don't know how to accept losses or how to learn from them
9. There is no one I can talk to about this business, no co-workers, no friends nor associates
10. Because I am just coming off ill
11. Because I don't clearly see myself having a successful trading business, The Trader
12. I have no one that is pushing me, no one to answer to
13. Somehow I believe I will still get rich without my trading
14. Every piece of work I put in doesn't pay or amount to something 
15. Most strategies don't work or change very quickly and then the old one is working and I don't know it till when its too late
16. Everytime I lose a trade I feel like I got it all wrong
17. I feel I don't have the education to put what I know together, don't know how to use what I know
18. I want to trade all the time and can't
19. Im afraid that the free time I have in life will get used up and before I know it I will be old 
20. The work is so hard, its so hard to get myself to back-test and read new strategies and try them and they fail

Thoughts 11.8.12

Thursday 11.8.12
Last night I woke up almost every hour on the 02 min to check to see if a trade was valid. I went into AUD/USD twice and both were stopped out. It traded in a range (which later on I figured that I could have used the Horizontal Lines from 12am to 4am and wait for the 5m chart to show that the resistant became support and went in AFTER #41 h1 had triggered a buy or sell). Then I started to watch the DOW and since yesterday it fell a lot after Obama was re-elected I assumed I knew what it was going to do (which it did) but doesn't fit into the strategy so I should have kept the guessing completely separated from the strategy. I lost a total off -80pips since my first trade at 1108pm last night. I should have kept the size of the trade small since I was in a wary market. I know some greed played a part because I missed taking profits on 1 of these trades which added to my losses.

Friday 11.9.12
Analyzed all my trades from the time I started to loose myself emotionally and not following the strategy, I started to analyze the market from my own perspective (it fell the morning after Obama was elected 300 points).

Monday 11.12.12
My job is to get all the trades I can from the strategies I have back-tested and feel confident with. And then in my lab work on finding another strategy thru searching and back-testing. I am watching Lord of War and when he is asked to quit he says its not about the money "I can't quit because I am good at it".

Tuesday 11.13.12
I like to wake up with the desire to win in this game and to become a competitor that can use failure to the most advantage miraculously possible and use success strategically to make acquaintances that are with people who I can learn from. I lost twice this morning already and it didn't get to me I see it as part of the success, since on my back-testing I had many losses but the gains over-came it to put me in the positive. This morning I sold and then shorted from the droid, then came home to set SL and PT (Profit Target). Lost this trade too, feel so discouraged.

Thursday 11.15.12
Did work today because had to go to Blnd. But while I was there I checked for any strategies and one showed up on GBP/USD so I put on the trade, although it didn't work out and I lost (-11p). And again when I was at walmart I looked and mis-read and took the trade before it closed (it was breaching the BB) but when I realized what I had done I had already lost (-15p). Really bad mistake on my part, but I told myself that even mistakes work out in my favor. I have lost a lot all week and last week but I learned one thing which would have slowed my loses and that is not to trade on Tuesdays (which was -52p of my current -59p loss).

Friday 11.16.12
I lost on GBP/USD twice already and just realized that it is trading at the 200MA on the daily and this may be another time that you do not trade because so much of up an down action is happening that you will get stop out many times more than you may profit.

Tuesday 11.20.12
I measured the percentage of drop to last drop on the DOW. I can use Oil etc to predict wars end etc. Didn't take the trade on AU/US this morning because of what I learned last Tuesday about not trading on Tuesday and right now I would have had a small loss.

Friday 11.23.12
This week has been really good to me, +140p (a few of those trades are where I sold 2/3 of my position and then took the rest later). Last night was the first time where I went into the Fib 25/75 strategy (AUD/USD). I am close to breakeven where my account was up and then that week where I learned Tuesday is not a good day for my strategy (last week). I have to remember that success can cause you to relax in your motivation and I have to accept this and then go after win. Looking over my trades PnL since my deposit a month ago today (10.24.12) my account went as high as 285.22 and then fell as low as 233.71 and now I have one trade open with +55p (1 lot) and my balance is 266.74. I am satisfied with how I am growing.

Saturday 11.24.12
Dow went up last week (it tends to do this on holiday weeks). Most of the major pairs I check were up against the trend (150ma and ema's). EU/JP triggered a buy a few hours before close on Friday and AU/US is uptrending after crossing 75 Fib but I think it will pull back where I can probably buy more since I am already 1 lot in it.

Sunday 11.25.12
I am watching a WallStreet (Chicago Pit) movie and this guys says he loves the game. I like to love this game, I have already decided what I want to do forever so I like to fall in love with this. Somehow my subconscious find a way to fall in love with this Trading (Strategizing, Reseaching, Action, Trading). I like to start trading big, with more money and taking on bigger profits. He said; when things are slow in the market sometimes then you start thinking and you're thinking why do I take this trade, when should I.....and whenever you start thinking you're fucked, really fucked and from this I got "Trade your strategy down to the tee" and back-test as actual as possible and this may help when it comes to think in market.

Wednesday 11.28.12
Missed a AU/US trade where I could have went in earlier, I did lose -14p (#41)on it from a short trade right before. I also did well by not trading yesterday. And I did go in on GB/US on the #41 and Fib 25/75 on AU/US. I assumed that when the AU triggered the trade I look the 1-4 candles and thought that it will reverse since it was near resistance but it went thru all the above the other side. I did a small test on GB/US with Fib 25/75 and came to the conclusion (keeping in mind the small amount of data used, 1 month / 4 Trades) that it doesn't work well and that can be of benefit to me; since I do DP #41 on this pair it shows that it can work better with this than it can with the longer strategy. Important: I have to have my strategies written down and what has been back-tested and proven so far I have to stick to that, don't assume from what you see and don't get greedy to get more because I missed on 2 trades and the 2 I took cost me and if I would have stuck to my strategy then I would be up in positive right now. Until I got back and re-test with the new idea or what I see it is not going to work and that is that. Write your strategies out and follow them exactly.

Thursday 11.29.12
I feel like shiz again on my strategies just taking loses and missing out on a few trades. I am currently down  -45 pips. I have back-tested a new strategy on EUR/JPY (Fib 25/75) such promising results and I already lost on it, -41pips today. I have to understand that all strategies take loses and gains, if I have back-tested it will pay unless something brand new comes into the market (as a pre-caution I should also start taking in how much draw-down happens on a strategy and how many loses happen consecutively so that I don't run into these feelings). I have to be patient with this and I have to be fast with trading when a trade is triggered with a strategy that has shown good results.  I also feel that two of my strategies are conflicting (Fib 25/75 on EUR/JPY and #41 AUD/USD) since they seem to be bullish together and bearish together, to get rid of this doubt or have proof I need to back-test them and not just stay with this feeling like something will happen, remember "Once you know how it works, then it becomes easy". I can't think about correlations until they are back tested, right now the EUR/JPY trade is up +50pips and the AUD/USD (which I have been stopped out of with -5p loss from earlier is making brand new lows, its 907pm.

 Friday 11.30.12
(857am) GBP/USD is down a lot, but since my strategy hasn't triggered I don't go in nor do I get excited at all. So last 30 mins I spent searching thru my data to see what happens on Fridays, does the trend continue into next week and do candles at 9am (like right now) profit or turn around and are mostly loses. Candle after 1pm usually do come back on Sunday but most times the trend continues, so if I go in I will be holding all thru the weekend. Does certain RSI number show better trend like 37 or so? I am also up on the EUR/JPY trade now at +70pips was up +105pips earlier (gotta learn when it takes off which Fib should I take profit at before it retraces and where to go back in maybe. (1043am) I have been seeing that the faster I go in at the begining of an hour I always see a loss where I could have had a  better entry. (1101am) Just loss on GBP/USD, should not trade when it is around 200MA on 4h. (932pm) Got angry just now or maybe frustrated that my account is back to where it was when I started, pretty much giving up all the gains for last week and then this morning I was up to almost a new record and made two bad trades and lost half on the new strategy trade, +110pips are now +55pips.

Monday 12.3.12
(1215pm) I realized that back-testing may have an advantage to where when I am about to put on a trade I can check the data for this day and time to see what the chance of success is and put on the quantity according to that. 

Wednesday 12.5.12
(135pm) Patience is most important (Im said that the reason you loose in gambling is because its impossible to be patient and I realize that when I went to AC and played roulette I saw patience paying off on the table since I was willing to bet many numbers for that few again everytime or more times than I would loose).  Patience is very important in everything we do also. (959pm) I did a new table twice and then the second one I copied the data to with the Fib levels. I have realized that its about getting myself programmed as a routine to disect data like this is important since this is how I come up with strategies and becoming habitual with this will gives me new insight into trading and PnL and also getting new strategies. Right now until this becomes a habit it is most important to pull this data and it is hard because its new and you get excited by something new you discovered and in your mind you want to pull the data but then when you actually pull data its so different and you have to change the table on how you pull it but this is good for you and you should continue this every single day that you program is open to research.

Thursday 12.6.12
(229pm) So frustrated and sad, total loses amount to -72pips account balance back down to $231, that is 5 lossing trades and 1 winning trade on the EU/US and got out too early (too early meaning my other trade on the EU/JP was following this EU pair and I sold at the 1.6 line and then a few minutes later EU/JP SL hit and they were both equal on pips so I sold early and could have waited for EU/JP SL to hit first, and on top of this I was already in 2 other trades when I took this so I only had 2 lots on the EU/US trade that paid. I realize I have to be patient there is no other way, my frustration should make me work more on researching data this should fuel me to do more and to always keep in mind that my work may come right back to where I started which I am feeling on the new table I made "Sheet 3" for Tgt to be at fibs rather than candle pips. Did a search on google "Forex Frustration" and read some posts. This has to be part of my growing and thus its important for me to see this also as growth, I have figured out another way that DOES NOT work which should lead me to what DOES work by revising my mistakes, planning more intelligently this time and acting on that plan as action. I also missed a trade on the GB/US, same bs where I would say that don't go in right away and you will have a chance but no exactly this time it decides to just keep falling, what I figure from this is that it may be certain days where it keeps falling or times. And my trade on the AU/US that was up 44pips (P 1.6) is now breakeven from 2 huge bearish candles.

Tuesday 12.18.12
I emailed two people today regarding working with them or asking them to help me learn more strategies or at least how to make new strategies.

Wednesday 12.19.12
(1017am) Realized that the 200MA plays a roll on almost every level (30m, 1h, 2h, etc etc) at least on the AUD/USD it did and this may be another way I can develop the strategy to take profits. Also, another strategy is playing the #41 and then once cashed out or wanting to add more on the way up on longs is to draw fib and buy once the 75 fib is crossed after a pull back / retracement. I am also learning to let winners run, e.g. currently I am in AUD/USD trade and it is up 30+ pips and I have brought my SL to at least break-even but I will not take profits on this and I will let this run and I may get stopped out but it won't be a loss, I should not fear loosing profits rather concentrate on letting profits run while bringing SL to breakeven. (1142am) Looking at charts with 200MA on all time frames and seeing new ways I can view the market, as it runs towards certain MA on different times, what I had thought way before as the banks and computer trading systems were set up to trigger trades both buy and sells at these points but doing it on different times frames so they can go in and out of markets quickly. This gives me this feeling that I will succeed, I just have to be patient with this so that I can build the strategy inside myself that gets me here and that can get me out of any trouble I could run into in the future because we are not perfect and things can change emotionally for me if a whole bunch of people started to praise my trading and depending on me.

Thursday 12.20.12
(1006pm) I realize that the more I have worked the more bigger I have been paid and lost thus it seems that working more (habitually) can get me more and more gains overcoming the loses and becoming wealthy. I woke up this morning and put on a trade and then a couple of hours later I took a -62pips loss and was frustrated and I realized that I should use this frustration as fuel to work continuously instead of wondering why I am missing out on good trades. 

Wednesday 12.26.12
(106pm) I have a vision that I am getting the right ideas for a profitable strategy which I am back-testing and having confidence to use in my trading (taking away that frustration feeling or using it to my benefit). (855pm) This morning you got frustrated over pairs taking off without you, I like to realize that every move in this market is not for me sometimes those moves are to take out trades that weren't meant to be there and other times to make dumb money think it knows what it is doing. Remember, this is a tough business and the whole point to making profits is to remain calm and learn from every trade. Everything in this market has to be so systematically engineered and I like to do all the hard-work involved.  I see myself happy making windfall of profits, I can see this I can feel this I can taste this I can smell this success. I decided to read strategies because I am happy to learn something from just reading and I am happy that I clicked on exactly what I needed to read regarding the thought that was on my mind for a while "All strategies may work, but they may not work all the time thus when to trade a certain strategy is of importance". 

Sunday 12.30.12
(403pm) Should I use bigger time frames on #41 (especially when markets are going up and down a lot taking my stops out too many times)? Is finding out which are trending indicators and sideways indicators (RSI, Stochastics = sideways etc etc). Like Friday could I have a table that I can write in what I see to help me follow the markets more closely?  Is reading every strategy worth the effort involved? Should my plan be: first back-test a strategy, if I don't do that then proceed with real-time testing? (608pm) This work is very meaningful, a lot of people give their money away in hopes to multiply their networths thru investing (you see all types of articles and look around you and you have friends that have done so), I like to understand this and go after this work as any other great job you have had where you think you made a difference. I like to be the one that brings actual profits to people because their money is the most important thing in their life and I have the courage to over-come the fear of working with THEIR money as I was born to do this because this comes natural to me. (731pm) Do I have to create a actual profit and loss sheet? Do I mark important lines (confluence Fib levels, H4 support and resistance etc etc).

4th Plan

What I look for:
1hr worth of data for the picked hour to find S/R.
Wait for break on this with a full candle above/below it.
SL at 20pips or other side of tunnel whichever is lesser, TGT at 20pips
Look at /DX and if at S or R then only take a position on a currency that is going this way.
Look at the Daily S/R of the pair to see if its not hitting its S/R and may reverse.
Draw Horizontal Trend lines for trending pairs for where price may pause or reverse.
Check RSI (1hr) to see what historic data says.
Check 1hr Zones to see where the peak or trough were and expect that.


Another Strategy:
Use 5m and draw trend lines by moving the horizontal lines to the next S/R

3rd Plan

Things I know that will help with a strategy:

1. Find out what strategy you need, is this a Range-Bound or Breakout or Trending pair.
2. Is the pair making Higher Hi's and Higher Low's?
3. Is the MA showing a clear trend? 
4. ABC Patterns
5. Doji and other Candle Patterns
6. What does this pair do on Daily S/R lines (for historical pick a few days back and find lines at that price)
7. What did the RSI do when it hit this point in the past?
8. Is there any HS patterns, Flags, pennants or others?

Before predicting:
Is this pips realistic from past data?
If there any major Fundamentals during duration of trade?
Can I afford the SL above or below the last 4hr candle?



Trailing Stop: Put the stop below or above the fast MA and slow M
Stop: Before leaving for the night you may want to put a stop at least at breakeven so you don't go negative if something happens over-night.
Use trend lines to take profit or know this is where price will stabilize.
Keep stops minimum, don't extend them to another level because they will be triggered when the market isn't working with you and you want to loose the least.
Stop: Draw horizontal line from current RSI and see what it did with hist. data (keep which size of 50 did the line come from).

Learn:

Cups:

• How does a cup and handle pattern work, what happens when the price closes within the last candles high and actual close?
• What happens when price closes above the high of the last candle?

What happens at "this" fib level compared to past when this level was hit? 

2nd Plan

Goal:
To make as many pips the currency allows everyday (its daily range average should be a good goal) using a strategy that produces profits.

Type:
Prediction of what will price do when a certain reports is released.
This is what I did before when I used news to predict where the currency was heading and where it would stop to complete a pattern.

Strategy:
Check for any upcoming fundamentals.
Look for SL to be above / below the previous 4 hr candles.
Using /DX to also predict where the currency pair could be heading (if /DX is at support it may bounce and the currency may do the opposite for example if its the EUR/USD pair)

Ideas:
Find daily support and resistance lines and trade of off these. Go long and short on each or go only with current trend.
Use MA to find which way to trade (trend).

Strategys:
Go short or long on a crossover of a 20 and 50 and SL above the other (if you went short on a down-cross of 20 below the 50 then SL just above the 50 incase it bursts thru it and goes too far up depleting your account) and raise or drop the SL with the respective MA. Once at breakeven then you can use the quicker MA as SL for more profits).

1st Plan

1st Real Plan:

I like this plan to work so I can make income from trading to pay my bills. I have BGE bill and worried is not a good feeling, I trust the universe to take care of this for me. But I like to profit from this market.

***I like to read this and when necessary, tune it for more profit. This plan is to my trading business as a business plan would be to any other business. This plan is to me what written plans are for winning quarter-backs / teams (Strategy). I look past trades I missed, there are always trades to be had, when it runs up you can short, if it drops it will rise.

Affirmations:

I am a highly skilled forex trader.
I believe in my ability to be a successful forex trader.
I can sense the right time to take action on a trade.
I am patient AND fast-acting.
I am naturally in-tune with the markets.
I like all the work involved in successful trading.

Goals:

Short-term goal is to make pips everyday. And by end of day be positive in pips.
Mid-term goal is to know where the currency I am trading is heading and the overall market.
Long-term goal is to be able to trade on a Monthly or Quarterly time frame.

I like to grow in pips consistently and increase my account.

Analysis & Strategy:

• Check fundementals for the pair (any major event coming out).
• 1st look at what is realistic pip profit.
• Is the pair making higher hi and higher lows or lower highs and lower lows? 
• Draw daily and weekly support and resistance lines
• Look for H&S and Pennants, Flags, Wedges and other patterns
• Any opposing ABC patterns showing correct trend?
• Draw trend lines on 4hr and 1hr charts
• Use RSI and Bollinger Bands and draw trend lines on RSI
• Look for Doji, shooting star or other candles at support or resistance.
• Am I willing to loose this much $$ on the trade
• Is the price target I am reaching for within the Daily S/R
• Which Zone's Session did this trading happen on
• Is my trade in-line with those I follow and that are good
• 
  

Questions to ask before placing the trade:

1. Is this trade jumping of the chart telling me I'm stupid if I don't trade?
2. Did I have to think about this trade over and over again while checking website or tweets for confirmation?

I will learn from this trade no matter which way it goes!

Notes.....

Nobody wants to take a loss, and as human-nature you won't either. I like to attach to myself to the work I do not to the results.

***Project trend lines on your own.
***Check 4H charts for all currecys
***Look at DJI & /DX for Resistance / Support and or Trend
***Look for Shapes and Possible Shapes in the making

This market if focused on the wrong things can be demoralizing.

Monday 8.13.12
Went in AUD/USD last night (Sunday night). This morning I was up about 11 pips then the 7am candle became a bearish opposite of shooting start (instead of the star being a cross on the top of candle it was at the bottom and closed in the red, so long wick with price closing at the bottom where it opened for that hour) then the AUD fell till present (923am). I am currently -22 pips.

***ABC patterns: low to hi when measured r corrective where prices will go back to original trend.


Friday 8.17.12
AUD/USD - lost 126 pips. I like to learn from this failed trade: Broke out of wedge yesterday but like most times that I have seen when something breaks out of the wedge one way usually it is a fake and goes the other way, on this trade I could have raised my SL (would've still lost but lesser pips). Could have also noticed the long down candle that set in 2100-0100 (4hr chart) usually these long candles continue the trend if they aren't reversed on the next candle. Before this candle was also a ABC corrective pattern going opposite of this weeks trend.

I have desire for being highly successful in this market.

Good Things about this Succeeding in this:
This is a business in which I can grow forever, their are no limits here. Usually no one can hold you back, it is kind of like golf and you compete with yourself above all.
This business is one I can do remotely from anywhere, whether I decide to travel to Europe or into different cities in America I can run this business from anywhere.
I create my own pay check.
I enjoy doing this business as most people I know don't understand this but all are invested in it one way or another and the kids coming next will also be.
I can work this business on different time zones; USA, London, Tokyo, Australian.
This is something I have been around most of my last 10 years.
I love "Business" and this is the top of the business world.
I can open this business and make money anywhere in the world and also spend time learning that countries business ways and possibly introduce our ways.
This is a big challenge, no one I know personally has been able to consistently make profitable trades yet but they all enjoy talking about the market and what it would feel like to make it in this business.
I am really good with numbers and psychology which is helpful in this market, its not the only thing but its like being a tall person in a sales job or good with the tongue.
I will be able to give back with this business a lot more than anything else I have done yet. Because I have heard everyone doing trades on their own and they may want my advice or counsel once my success speaks for itself.
I like to profit in this market because not only will it enable me to buy things I need (clothes, shoes, food, office equipment, kids stuff) but also pay rent which provides a home for my family and a car that they can drive.
With money I can be the giving and passing along part of myself.


Tuesday 8.21.12
AUD/USD - Shorted SL 28pips. I put this trade on after a Doji on a 4hr candle. I also checked twitter and searched for "AUD/USD" to see what others are saying. This pair is on a downtrend on a 4hr chart (lower hi & lows). My profit Tgt or SL being brought to Breakeven is the last daily support line which is close to the 50% fib from the current run up. I also looked at the Time Zone to see which zone did this run up happen on and it seems as Tokyo shorted last Thursday and this time they bought it all back and ran it up so to me it seems that the current trend (down) is still intact. (330pm) Trade went exactly to the point I Tgt'd so now my SL is +12 pips. ***+12 pips, stopped out*** (946pm) This trade continues to make pips but I am Stopped out since 330pm.

Wednesday 8.22.12
E/USD - needs to break 2440 to go short

Thursday 8.23.12
AUD/USD - Shorted with SL 24pips. I didn't feel like writing this down when I took on the trade. When I came back home I checked on the trade and it was stopped out. My SL was 1-2pips from where it reversed and the pair went down (profitable if I were still in the trade). I keep seeing that if I should take on a trade then my SL should always be over the last candle on a 4hr chart (at least in the morning because markets always volatile in the morning).

***Make Flag, Triangle, Wedge trend line connecting to last morning instead of today that way you can see if a breakout is already under way, its like doing yesterdays TA today and seeing something you would if you were watching since yesterday.***

Sunday 8.26.12 - 940pm
EUR/USD - Short w/ SL 47 pips which is above the last 4hr candle and above the 7/14 MA (which have a cross on the last candle 4hr chart. The price is at the top of a rising wedge. The last 1hr candle is engulfing bearish candle. (brought SL to +2 and stopped out, good trade as I didn't loose anything)

Tuesday 8.28.12 - 1030pm (waited till morning)
NZD/USD Short SL = -19pips
Taking the trade short. Measured how much higher than the MA does it go and its only 15pip avg so that is where my SL is. This trade is because the SL (risk) is low. My SL is above the 200MA on the 4hr, the SL is also above the 7MA but not the 14MA, and most important to me its above the Daily support line drawn that dates way back. I see a potential ABC pattern (but this is not my current estimate because the SL can be taken out even if this ABC plays out). The long term daily trend line is where the price is now, which before I would have traded for it to bounce here but this time I will trade that it will break this and go further down. (8am) Checking on trade potential again. It fell overnight and if I would have shorted it it would have been +12pips right now. (840am) Now if the trade was put on last night I would have been -5pips as of this minute. Shorted at 858am with 19pip SL around the same place as the original SL. (1035pm) Moved SL to +5pips, its night time and I will not be able to watch the trades and if it will go up over-night I want out with a profit. The SL is placed above the top-channel trend line. SL is also above earlier placed price alert that was a alert set to see if I will sell here if it came up this high. Wednesday (1025am) Moved alert to last support new resistance on 1hr chart. Moved SL to last alert now +14pips (and currently the pair is up +58pips). Drew a bright green line at the break of the bottom-channel line for analysis to get out if it hits this line and doesn't reverse. EXIT STR. (1158am) Since it has falling much and I feel it could rise back up the strategy to get out is to look at the RSI and compare it to history where the 50 RSI is from where you would measure to where it is now (comparing the current with the historic data) and on this one it looks like that if the price is going to rise then it will peak above the last candle and this is where I should place my new SL (just above the last hourly candle this makes me stay in the trend incase it goes further down and takes me out without loosing much left of the table). I have just moved the SL to +40pips now, just above .8000 (whole number). (1218pm) SL adjusted to above 11am candle, now SL +49pips. (101pm) Adjusted SL to just above 12pm candle now SL +58pips.

Look for:
Low SL on 4hr.
e.g Measured by how much the price went above the 7&14MA's the last few times of less than X amount of pips (pretty average).
e.g Price is in a clear down-trend.
e.g. SL is also above another resistance, 200MA
SL above or below last 4hr candle.
Go against what you would have done before because you might have been thinking like an Average trader.
Wait a while for your trade to play out, it will reverse and give you another chance be patient.
Look for top or bottom of channels for reversals.
Use RSI to get out of the trade.


Tuesday 8.28.12 - 1027pm
EUR/USD - Daily trend line 97pips away, may run up into resistance by morning could be a good short.

FOR Sunday night 9.2.12
NZD/USD - Long-term daily trend broken and retested Friday.

Tuesday 9.4.12 - 805pm
NZD/USD - SL 16pips. Took this trade on the Hourly Support Resistance 20pips up and down strategy. I made support and resistance line on the 5M (5-6pm) because if I were watching the market then then right at this candle is where this trade would have started. My SL is above the 200 on 5m chart and it is well above the last 3 highs. Position closed with -17.6pips at 1226am, which was the top before it reversed and hit my target price alert (405am).

Wednesday - 9.5.12 - 826am
EUR/USD - Went long at 826am on break of Hourly S/R and full candle after. The pair has shot up and then it retraced to 50 Fib. I checked 11 pairs and found this to be the best breakout. (904am) SL at breakeven. Out with 1.8pips @ 942am. What I learned from this is not to be greedy for more but take the 20pips target you were looking for.

Wednesday - 9.5.12 - 959am
EUR/GBP  Long - SL at -16pips. Went in since the price was exactly at where it would have been if I went in on a full candle on the 7-8am Hourly S/R breach Strategy. I checked Fib and it is at 76% and the SL is under the last support on hourly chart. This time I have a Limit at 20 pips. I also looked at the Hourly peaks on which T zones and it looks like this pair peaks around 11am which leaves me an hour. I also looked at the hourly  candles and after a full bullish candle it is common to have slightly bullish candle that looks bearish (off its peak hugely but still closes in the green). (229pm) I am currently down -1.9pips, the pair has been sideways, no new highs no new lows. (1044pm) Moved SL to breakeven because tonight it could reverse still have my 20pip Tgt intact.

Thursday 9.6.12 - 911pm
EUR/USD - Looks like this one can run up to

Friday 9.7.12
EUR/USD - Looked at pair to see if reverse can happen, and I looked at the RSI and traced it back to see when it hit this high before and it was everytime the pair went into this resistance begining 8.27.11 which it has breached above. And everytime the RSI reversed but not the price (instead it made divergence, price rising while RSI making lower highs). If the price drops below the 10-11am S/R I think a good short for opening on Sunday evening may be good.

Sunday 9.9.12 - 559pm
AUD/USD Is higher than ever above the 7/14MA on 4Hr since this downtrend started. And on the 4Hr its approaching the 200MA.On 1hr price at 50 Fib since last correction.

Monday 9.10.12 - 916am
NZD/USD - Shorted with -10pips SL and 20pip Tgt. using the S/R made yesterday (Sunday). The /DX is slowly tredning upwards, I predict it will retrace to 50Fib and the Trend line that is there (on 1hr). Looked at RSI and it is above 50 and it should hit 50 before reversing. SL is above last support and may test this as resistance, could have waited for this and then shorted. My weakness of missing out might be in this trade already and that is why I prolly took it, but I accept this so I can do better. (933am) stopped out with -12.1pips.

Monday 9.10.12 - 1149am
EUR/USD Went long with -8pips SL. Breached with full candle when retracing. Price at 50Fib from last run-up. SL is low and below last resistance. I see a rounding bottom and this breakout is resistance since yesterday (Sunday 1020pm). (1241pm) Took 10.5pip loss.

Monday 9.10.12 - 1053pm
AUD/USD - SL at -12pips. Went in long on the simple strategy of a break above the Resistance. I used this strategy because AUD/USD has most pip success when I ran the Report. (1120pm) stopped out with -11.5pips.

Tuesday 9.11.12 - 833am
AUD/USD - went long on 6-7am breach with -15pips SL. Target hit at 858am. (Retraced to .618 and went to 1.618)

Tuesday 9.11.12 -947am
Waiting for AUD/USD to break above 8-9am S/R. This pair can run up all the way to next 4hr resistance drawn in orange coming from the bottom left. The pair is breaking out of a flag pattern and will run for the next few days or week, mid-term trade. On 4hr pair is running up against 200MA.

Wednesday 9.12.12 - 1003am
USD/JPY - waiting for breach of 8-9am S/R. Drawn 5m trend line (upwards) also waiting on its breach. Can go in short if S/R and trend line breached.

Wednesday 9.12.12 - 1011am
AUD/USD - A good long position, after retracement today. Price is above 200MA. Look for price to retrace down to Daily support also and then its a good buy.


Wednesday 9.12.12 - 1042am
USD/CAD Looks like a good Long. Breaking out of down trend line. Bounced of the daily support this monring. Last 2 4hr candles bullish. /DX has a shooting star at the bottom (6am candle). Went in on the end of the 1040am canle with SL below the low of the last candle (-9pips). I might only gain 15pips on this if the target hits because its already run up 5pips (total of 20pips). Also, this pair has been sold off a lot.(224pm) At 138pm I was stopped out with -8.4pips. I think the bad part on this trade was that I went in too late, 1042am is late because most times the markets calm down and are not volatile, and I have been up since 545am!!.

Thursday 9.13.12 - 637am
AUD/USD - I have been watching this yesterday and its retraced to the trend line where I was predicting it would bounce from, now I watch it for breach on 5m S/R. The price is also at the 200MA, which is even more confirmation that it could bounce. But on the 1hr the pair has made a lower high and lower low. Also look out for the daily trend lines, price has retraced to last diagnal trend line and could become resistance and price is also making lower lows and lower highs.

Thursday 9.13.12 - 725am
EUR/USD 1.3000 is 100pips away and that might be a good Tgt and great phsychological level.


Thursday 9.13.12 - 820am
USD/JPY went short with SL at 9pips (above the last few very bearish candles). I went into this trade simply on breach of S/R on 5m (5-6am) and the fact that its trending down and earlier it made a new low. My 1st tgt is 20pips but I have not put in a limit order yet as I will be watching it closely to get more out of it if I can, I will at the very least move my SL to a few pips in the + once the 20pip tgt is hit. After the first retracement since I went in I lower my SL to -6pips (just above that retracements high). (849am) Really long bearish candle and I bought my SL to + (right above this long bearish candle). (903am) Stopped out with +2pips.


Thursday 9.13.12 - 851amAUD/USD went long with SL at 6 pips below the last pull back which happened after it broke S/R on 5m at 810am. This trade is put on on breach of S/R on 5m of 4-5am candles. This is my second trade that is open, the first (above) is already in profit and SL is in the profit area so I won't loose there so now the risk is all here. (907am) Stopped out with -8.7pips.

Lost writing on a couple of trades

Friday 9.14.12 - 927am
GBP/USD went long after retracement from morning back down to 1-2am Resistance and once it broke out again I went long and once it hit the 20pips I brought my SL to breakeven where I should have taken profits but got stopped out with +1.3pips.

Friday 9.14.12 - 1104am
GBP/USD went short on 5m when it ran into resistance on top of rising channel. I went in on the doji with the SL right above the doji candle, -6pips. (1123am) Stopped out with -8.8pips.

Saturday 9.15.12 - 136pm
Why do I want to trade and be successful at Forex?
I like forex trading because its most challenging business I have ever done. I have done many business (retail, TCBY, hair stylist, Hotel, Computers, Real-Estate and more) and nothing was this challenging and none of those excited me much if I looked into the future and saw myself doing this 10 years from then or as an old man. I see myself doing trading business and managing money for more than myself, wealthy powerful clients but also family because many people are tied to the market one way or another. I like helping people, its in my nature and no matter what I have went thru in life I have always still helped people. I like my trading forex business because I set my time on which time-zones to trade (Aussie 8pm, Tokyo 9pm, London 3am, USA 8am) and this gives me freedom and a chance to use my night-owl productivity. I like that I can make money out of numbers, which I am great at and it feels like math and I am good at math.

What are my goals?

Why did I start this trading business?

What changes do I need to make to my current situation to achieve my goals?

Monday 9.17.12 - 944am
USD/JPY - This has rallied all the way to the top of a sloping trend line dating back from 3.21.12 (6 months). This can be a good short or long depending on candles developed and other technicals.

Tuesday 9.18.12 - 1114am
GBP/USD went long due to breach, its Tuesday and its that time that markets rev up for the week. Also, good to go long since the trend is upwards (trend is ur friend). Stopped out 1215pm with -17.5pip loss.