Journal

Start your personal journal and share your trading results and experience

Journal

Postby CPTRADER » Mon Dec 14, 2009 5:33 pm

Dear Edward ,
i first want to thank you in the name of all the traders for the great job you are doing with your team,
How can i start my Journal here?
I have a method that i have been using and would like to start a trading journal. Thank you.

Regards.
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Re: Journal

Postby CPTRADER » Mon Dec 14, 2009 6:29 pm

A very very simple method, not indicators, not news, just price action.

The method that i will be using is about buying on stream levels where there is more demand than supply, And selling where there is more supply than demand.

I have used this method on a demo account for some time and had great results, and now i have been using it on my real account and i have not make much, but still not lost any either.

I will post how much i am starting my trading and will post every trade i am planing to make and also post it when i place it.

Using this method, i only take two or three trades per week.

Time frames that i use are Daily and 4 hour.

Pairs, basically any pair.

I will only risk last than 3% of the account size on any giving trade.

I will only open an other trade, if the current one i have is in profit for more than 3/1 R:R Ration.

My goal is to be able to have an average gain of 10% per month or better.

The reason i am doing this is to have more discipline with my trading as i want to trade for the rest of my live. I love trading.

I will do everything that is in my power to make this work and so if i become a successful trader using this method, i can help other trades as well.
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Re: Journal

Postby Edward Revy » Wed Dec 16, 2009 11:36 am

Thank you and welcome, CPTRADER!

I'm sure a lot of traders will be interested to follow your Journal.
There is always a lot to share and even more to learn: thoughts, conclusions, trading results, overall progress etc - it should be an exciting and education journey for all of us!

Best regards,
Edward
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Re: Journal

Postby CPTRADER » Wed Dec 16, 2009 9:24 pm

Edward Revy wrote:Thank you and welcome, CPTRADER!

I'm sure a lot of traders will be interested to follow your Journal.
There is always a lot to share and even more to learn: thoughts, conclusions, trading results, overall progress etc - it should be an exciting and education journey for all of us!

Best regards,
Edward



Thank you Edward,

I am putting some things together to start my journey.

Regards.
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CPTRADER
 
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Re: Journal

Postby CPTRADER » Tue Dec 22, 2009 5:31 pm

Hi,

Ok, i am back.

I am starting with $4,400 of capital.

As right now i don't have any open positions.

As soon as i place the first order, i will update it with the price i entered, stop lost and posible profit target.

I risk last than 3% of the total account size on any giving trade.

I trade any pair as long as the spread is not more than 5 or 6 pips at the moment of placing the trade.

Monthly goal is to make 10% of profit or more, of cource.

If i am in a trade, i only enter an other trade if the current trade is in profit for more than 3/1 R:R Ratio of Profit.

I trade placing the orders on 4 H TF, but first , look at the Daily charts to make my decitions.

Trades will last from one Day, to two weeks.

The main reason i am doing this jurnal is because i want to make a $1.000,000 trading the Forex Market.
I know every one wants to make that and more and it is not an easy task, but with a trading plan, patience,discipline and an opened mind, i will get there in 5 YEARS...yes, 5 years. Fore some people, that would be to much time but for me it is realistic.
I don't know if i am going to be able to make 10% per month, there are going to be bad months and good as well, so, the good ones are going to make for the bad ones.

I will keep you up date on what i am doing.
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Re: Journal

Postby CPTRADER » Wed Dec 23, 2009 8:11 pm

Today i am still waiting for a trade.

I like the idea of makig this jurnal as a way of not only become a better trader,but also become a better person.
Trading has help me in my daily live events.
I do more reading than ever, i actualy did not like to read never.
Now since i became interested in the trading world, i read almost every day about trading and i have also been interested about biography of successful people and psychology reading.
I have read about 100 or more books on those tems.

The main trends are changing their direction, it may be because the end of the year they are selling of and causing some major trends to change direction for a be.


By the way, live in Costa Rica, just in case anyone that reads this jurnal is from here, it would be nice!!
I don't know anyone from Costa Rica that trades the Forex Market.
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Re: Journal

Postby CPTRADER » Mon Dec 28, 2009 2:08 pm

Today is monday 28th.

I just placed a buy order on USD/CAD At 1.04293, SL: 1.04040, Profit target :1.07960.

It is a 50K order, so if i lose, it will only be about 2 to 3% of my account size.

I will move my Stop Lost to break even once price has move up more than three times what i am risking.

Lets now see what the Market will do.
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Re: Journal

Postby CPTRADER » Mon Dec 28, 2009 2:37 pm

I may not have people interested in reading this Jurnal because it is Swing traing, therefore not exited to wait one or two weeks for one trade to become profitable.
And once you take the profit or lost of that particular trade, you may have to wait an other week to place the next trade.
But, hey....what is trading all about..it is about making profits , not about placing trades.

Like anything alse in life has its time to be done, there is allways a good time to do the things you have to do, and in trading if you want good results...you most have a plan to place your trade.
It does not metter if you place 5 trades per day or 5 trades per week, you will have to wait for the correct moment to place your trades accounding to the plan you made in order to trade.

Patience is key.
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Re: Journal

Postby CPTRADER » Tue Dec 29, 2009 11:22 am

Ok , my stop lost got hit on the USD/CAD trade.

I lost $107 and the acount balance is now $4,293

I don't feel bad because that was a planed trade and i did everything acording to my initial plan.

With this method is posible to have few losing trades, so i can expect to have some loses untill i get to the winers which are not to many by the way.

I am looking to the AUD/JPY, it may give me a place to put an order, we'll see what the market is going to do next.

Now wait for the next trade.
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Re: Journal

Postby chintopinto » Tue Dec 29, 2009 12:44 pm

Hi CPTRADER,

Nice work!
Pleace keep us updated!
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