Thread: pipprincess trading journal

I really don't like the look of the market this morning. Following a level Asian session, the European Open hasn't done much and the market appears as if it's waiting for something to happen. Best stick out, imo, but I am keeping the demo open in case I suddenly change my mind and believe that I can figure today's leadership on the grounds of nothing at all.

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I simply hauled a chunk out of my own account (all profit ) because I think it's almost always a good idea to bank profits regularly and also because it will be fun to start again building it from scratch, and then see just how far I can go with this. So far as MM, I plan on beginning with an lucky number 7(%) to be revised down it after 3 wrong trades in a row or a complete 20% loss of funds. To explain where I reside with MM; I am flexible about it and that I really do believe there is a place for aggressive MM in certain scenarios (although NEVER for novices). It makes no sense to exchange aggressively as you do not understand what you're doing, but if you're using a method and it's shown at least 70% always profitable, then hell why not up the risk to a little amount of capital that's really only a little bit of play money anyway? I understand there are many here would disagree with this, but my view is that in the end it boils down to what each person can handle financially and emotionally.

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At a demo long GBP/JPY @ 122.97 with stops below @ 122.30 below hourly swing low.
https://www.nigeriaforextrading.com/...1232657895.xls

Originally Posted by ;

At a demonion long GBP/JPY @ 122.97 with stops below @ 122.30 below hourly swing reduced.

If this was live I'd likely get out with the 40 or whatever is on it today - or with at least 25 like yesterday (I've got a thing about 25 pips I'll explain another time!) , but as it is only a demonion I'm letting it all ride.

Closed @ 124.00 / 103 pips.

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Would have been a wonderful live commerce but I wasn't confident about taking that one on my account, so I am glad I did not. When in doubt, stay out is always my motto. The problem was that my set up for the transaction was that there clear as day, but that I wasn't happy about the way prices were going choppy and indecisive at the moment. Still, I will not need to be worried about this so far when I return to ordinary trading, but with intra-day there's so much sound! I am surprised by how unaccustomed to it all I have become!

I enjoy me any divergence, I do. At this time I'm eyeing up the bearish divergence about the EUR/JPY and EUR/USD daily chart and they seem like they're prepared for a few correction, so.... If I go brief tomorrow or early next week, then it's likely to be an EUR/USD trade since the reduced yen is really helping to maintain EUR/JPY up, methinks.

Ok, so I entered a short EUR/USD @ 12565 with a stop above the hourly swing targeting and high 1.2495. I picked 1.2565 to enter because that's where I found my set up building on the off-the-shelf, plus the reasons I posted above gave me more confidence about moving short EUR. It was over and struck the goal of 1.2495 once I awakened this morning.

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I opened a new demo account to place the trade above, because I'm tweaking my egy in order to boost my exits, and I want to see how it performs more about 20 trades approximately. Even though my live trading is going well, I really feel that my method needs to be more profitable than it is, and also the main reason it is not is largely down to creating terrible exits from what could have been some wonderful transactions .

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As for my live account; The good is that I was profitable this week ( 95 pips) along with the awful is that Tuesday's long EUR/JPY ended in the type of rookie exit that I'm working on fixing. After my presentation trade closed this morning out, I'm seeing the pair falling farther. This, however isn't a mistake depart because that's the breaks, that's how it goes. I made a egy, it performed nicely while I was still praying and that I accepted a long time ago that I will never EVER get each pip from a trade.

Hi princess thanks for this tread, I think we can both share our Perspectives on this pairs they are my favorite pairs especially the E/J I will be happy if we can do this Collectively and increase our pips...

Thank You
Saliu

Originally Posted by ;

Hello Lady thanks for this tread, I believe we can both share our views on this pairs that they are my favorite pairs especially the E/J I will be happy if we can both do this together and boost our pips...

Thank you
Saliu

You are welcome zawad, please drop by any time you wish to add something.

It will be great if it's possible to link your explorer using this thread....

Originally Posted by ;

You are welcome zawad, please drop by any time you want to incorporate something.

Sure I will always drop by thanks

I thought I'd take a leaf out of other people's book and start my own site. Im hoping this will be a be a fantastic method for me to keep tabs on my motives for accepting transactions, as I don't use any platform to speak of. Instead I watch price action, s/r and trendlines on various time frames, therefore it can be quite confusing when im reviewing things occasionally and I need this to help me, especially on my errors. I'm still quite new to this; I discovered FX in early '05 and went live around 6 months later. '07 has been the first year that I haven't blown an account, and really I have been overall profitable this season thanks to risk management. But still alot to learn and any help or comments will be most welcome. As much as I can ill post my observations and transactions in real time; want me luck!