CoastalFX Trade Journal

[Camlocamol]

Hi my name is Jackie. I'm starting this journal to track my progress. You'll be able to follow along with my transition from demo trader to reside trader and finally Incubator fund trader to hedge fund trader.

I use a long-term trading egy trading from the Daily, Weekly, and at times Monthly charts. You may observe that I make one to two trade per week. I don't use Take Profits, I use trailing stops and wait patiently to get stopped out.

When I place a trade I place it at the direction of this long-term trend with a 50 pip trailing stop along with a 1000 pip Stoploss. In the end of the day when the transaction is over 100 pips at the favorable I increase the size of my trailing stop to 50 precent of their profits in a bid to give my trade more room to range, while giving me the oppurtunity to keep in a long-term trend.

So for example I buy the EUR and at the conclusion of my trading day it has run up 150 pips along with my 50 pip trailing stop hasn't been stopped out then I will increase it to half of 150 (75 pip trailing stop).

This am I made my first trades for this journal

Buy EUR/USD @ 1.5474 currently 1.5530
Sell USD/JPY @ 103.52 currently 103.83
Buy GBP/USD @ 1.9612 currently 1.9609
Sell USD/CHF @ 1.0462 currently 1.0442

Thats it for today,
Jackie

[Camlocamol]

Euro was stopped out for 33 pips.

3 new places were open this AM and are still running

Bought EUR/USD @ 1.5465 currently 1.5493

Sold USD/CAD @ 1.0035 currently 1.0027

Bought AUD/USD @ 0.9399 currently 0.9414

As you can see all new positions are currently profitable but that does not matter unless your trailing stops are triggers as they have been around for the EURO so far. Let's just hope we can find some more profits from that.

Update to come,
Jackie

[Camlocamol]

Euro was stopped out yesterday for a 2 pip profit (hey pips are pips). I chose to put my very first Buy Stop order on the euro.

I place a Buy Stop at 1.4500. Jacko, likes round numbers so I figured I'd just select a round number. I wanted to find some more momentum moving ahead before I jumped to the Euro again. The remainder of my rules still apply:

1000 pip Stop/loss with a 50 pip trailing stop. Although I've toyed around with the notion of having a 100 pip trailing stop initially. I might try this in a later time. For now I will just still with all the 50 pip trailing stop.

[Camlocamol]

So far it's been a trading day. All transactions still in crimson but certain trends will resume so I am not to concerned about transactions that are down. Eur/usd buy stop nevertheless not triggered though it's very near.

One factor that certainly has bothers me so far is how my transactions have all headed south shortly after I entered orders going with the trend. I've been doing some studying on the internet now and some studying of these charts and have come up with a suggested solution.

It's not so often that that you see daily candles that alternate bullish and bearish. Over not a bullish candle is usually followed buy yet another bullish candle along with a bearish candle is usually followed with a bearish candle. So I have decided to enter a trade at the morning to the day once I've a daily candle going in the direction of the larger trend.

As an instance working with this egy I would have entered a buy stop order on the Euro in the next round number (00 25 50 75) the day after I finished with a bullish candle. I hope that makes sense.

My motive for implementing this, is very straightforward. Before I can get into a longer trend many times I will make 50 pips or less on fast jog ups that become fast reversals that will hit my trailing stops. That is fine and it gives me a opportunity to re-enter on another day. I would rather that occur versus ending up in a change that is deep in the red but still a few hundred pips out of my stop. When this occurs I can maintain a transaction for days and occasionally a couple of weeks before that transaction becomes profitable . Overall that's not a bad thing most of the time that the transaction is going to end up profitable but it keeps me from the market on that pair.

That I would rather get knocked from a ranging market a few times with little profits versus having to wait it out at the negative. I think this new egy of when to go into the market will assist me with that objective.

Afterwards,
Jackie

[Camlocamol]

It was triggered through the evening and hurried into the profit zone with momentum as I desired. It didn't run far enough to my tracking cease to be triggered that I suspect that will happen most of the time. Now I am on this particular train let us see if it finally heads north.

USD/CAD, is barely hanging on, it's so near the trailing stop. It will be interesting to find out what happens with that. New York open is coming up let us see what effect that has on my trades.

Good day,
Jackie

[Camlocamol]

No new transactions were created today since I'm still in all 6 transactions. But since this am the markets have nearly declared their daily tendencies significance that have approximately 3 transactions which have triggered trailing stops. I'm locking in pips as week talk. This might be my best day since starting this diary of trading.

It is exciting!

Jackie

[Camlocamol]

I had two trades become stopped our yesterday to get a total of 149 pips. I love this business! Brings my total pips since starting this diary to 183 pips.

I put two trades now a Buy Stop order on EUR/USD in 1.5675 and Buy Stop order on AUD/USD to get 0.9625.

I also I have two trailing stops that have been triggered on two different trades so there will be profits left there soon too.

I like Currency Market,
Jackie

[Camlocamol]

Yesterday was another great day at the currency market for us. Our
GBP/USD transaction was stopped out for 49 pips. That brings our monthly
pip total to 232.

Our EUR/USD Buy Stop order was triggered during the night. We have
moved roughly 70 pips into profit on such trade so our trailing stop
is in effect also.

The USD/CHF trade is up nearly 140 pips. Trailing Stop on USD/CHF moved to 70 pips from 50 pips. We are seeking to stay in a profitable position whilst giving this pair room to pull back without stopping us out.

Enjoy a great afternoon,
Jackie

[Camlocamol]

I'm planning to be on a plane headed toward Orlando FL, so I'm
placing and placing my trades early this am. EUR/USD, was stopped
out during the night for 75 pips.

We widened the Trailing Stop on USD/CHF more because of gains from yesterday.
Trailing stop on USD/CHF is now 88 pips from 70 pips.

New Order:

Buy Stop orded placed on GBP/USD @ 1.9775 using 1000 pip Stoploss and 50
pip trailing stop. (just 2% of account utilized with 1:50 margin regular ).
No orders placed yet on USD/CAD or even USD/JPY.

Have a good afternoon,
Jackie

[Camlocamol]

We had two trades stopped out yesterday USD/JPY 27 pips.
USD/CHF for 156 pips. We'll be waiting until next week to reopen
these positions.

This brings our current monthly pip complete to 493!

New Trade:
USD/CAD Buy Stop at 0.9875

(two precent of account on 50:1 margin)

Have a great weekend,
Jackie

[Camlocamol]

There are no new trades for today. All pairs which we do not have
a trade with are currently going against their larger daily trend.
We'll await the larger trend to restart by searching for a daily
candle to shut in the direction of the larger trend. On all pairs
either the candle from yesterday is opposite of this trend or the candle
forming today is moving in the opposite direction.

Update on current trades:

On Friday GBP/USD was stopped out for a profit of 8 pips. This brings
our whole profit because this journal began to 501 pips.
Currently we've got a trailing stop triggered for USD/CAD so
we will have some profits wrapped in on that commerce.

Enjoy a Fantastic afternoon,
Jackie

[Gokgoke]

great

[lalaypa]

I concur!! Job Jackie. I am enjoying your analysis and trading success. Would you go into a bit more detail on what you're searching for prior to entering the transaction, what decides your stops, and how you like to trail? Thank you!!!

[comgobanogwmme21]

There are no new transactions for today. All pairs that we don't have
a trade with are currently going against their larger daily tendency.
We'll await the larger trend to resume by searching for a daily
candle to close from the direction of the larger trend. On all pairs
both candle from yesterday is opposite of the tendency or the candle
forming now is going in the opposite way.

Update on current transactions:

On Friday GBP/USD was stopped out for a profit of 8 pips. This brings
our total profit since this journal began to 501 pips.
Currently we've got a trailing stop triggered for USD/CAD so
we will have some profits locked in on that commerce.

Have a great day,
Jackie
Great stuff Jackie https://www.nigeriaforextrading.com/attachments/1527680810.png

Keep it up!

Kind Regards
Steve https://www.nigeriaforextrading.com/attachments/1527680810.png

[Camlocamol]

Great stuff Jackie https://www.nigeriaforextrading.com/attachments/1527680811.png

Keep it up!

Kind Regards
Steve https://www.nigeriaforextrading.com/attachments/1527680811.png
For all those of you that do not know Steve is my hero! Thanks Steve, though I trade very differently than you, you are one of the primary individuals that inspired me from the very start.


I agree!! Great job Jackie. I am enjoying your analysis and trading success. Would you go into a little more detail on what you're searching for prior to entering the transaction, what determines your ceases, and how you like to trail? Thanks!!!
Thanks for your kind words. How I trade is straightforward. I use 2 precent of my account balance and 50:1 leverage.

Ever transaction is entered using a 1000 pip stop/loss and 50 pip trailing stop.

I look at the daily trend, sometimes weekly, and yearly trend and ALWAYS trade in that way. I start a trade at the direction of the trend when I see the past complete daily candle which coincides with the larger trend and if a candle is currently open I shall trade so long as it coincides with the candle from the day before and the larger daily trend.

After I am 100 pips in profit I move my stop/loss trailing stop back by 50 precent of my profit in pips. So if on day 3 of a trade as I begin to open new transactions and one of open transactions closed a new high and I am currently in profit from 150 pips then I would correct my trailing stop on such trade to 75 pips instead of 50.

The objective of this egy is to keep in a long-term positive transaction as long as possible.

I hope that clears it up for you,
Jackie

[Camlocamol]

Unfortunately, there are still no new transaction set ups. Thank goodness,
I did not break the principles of the egy and try to induce a trade yesterday
because we would have large floating losses on each trade. We'll
just be patient and wait for these candle sticks to shut in the right
direction.

I do have a floating profit with my two open transactions around the AUD/USD
and USD/CAD. USD/CAD, is not far from hitting on the trailing stop.

Have a Fantastic afternoon,
Jackie

[Camlocamol]

This hasn't been the most active week for us in Forex. I just set
a Sell Stop order on USD/CAD in 0.9825.

USD/CAD was stopped out yesterday for a 20 pip profit. That is good news and also a lot better than a sharp poke in the eye.

Jackie

[Camlocamol]

This has been a week of market waiting and watching for current trends
to resume. I did just put on order.

It's a Buy Stop on GBP/USD @ 1.9825.

2 percent of account utilized with 50:1 margin. 1000 pip stop/loss and 50 pip
trailing stop.

Our Economy Stop on USD/CAD was never hit and remains in place.
Have a great weekend and let's hope for a more exciting week next week.

Take care,
Jackie

[Camlocamol]

No new trades are placed today. Buy Cease and Sell Stop is still
set up but will probably be adjusted in the next couple of days. We
are in a grip pattern waiting for the bigger daily trend to maneuver in
it's historical leadership.

For the month of May we earned 521 pips and we didn't trade the
whole month so we're searching for an equally profitable month in June.
At a later email I shall give some more data on past month's
results.

Joyful Pippin,
Jackie

P.S. Excuse the typo above .

[imobem77]

Jackie,
Many thanks for the clarifiion on the time.
Also in accore with your advice, I will not be in hurry to force anything.

[Camlocamol]

There are no new trades today. It is hard to earn money when we
are not in trades but the market continues to give up earth on
this current tendency. It hasn't given up tremendous ground for the most
part it's small moves at a countertrend direction. There ought to be
a good break in 1 direction or the other when we get more economic
news releases. We will continue to wait and watch the charts.

Have a blessed day,
Jackie

[Camlocamol]

No new transactions were initiated yesterday today. We are in a fantastic
dimensions countertrend market at this time. Together with both open losses our newspaper
losses are adding up. Happily we are on the sidelines with our other
4 pair. It looks like that the market is shapping up well. Once the trend
resumes we should have plenty of space for profits, since the market
will have a long way to conduct it hits a resistance point.
If we attempt to rush transactions we could make sloppy decisions which could be
expensive. Right now we'll only sit on the sidelines and simply watch.

Jackie

[Camlocamol]

There are no new trades today. Our two open positions are taking heavy
losses because our countertrend has run deep. These loses are not
entirely unexpected.

4 of our positions are simply on the sidelines waiting for the oppurtunity
to maneuver in the market. I've experimented using a hedging egy
I may utilize in a similar market condition in the future. It is
based from opening a trade in a countertrend using a tight stoploss
when the trade breaks crucial support levels on the charts.

In the mean time we continue to watch the charts from the sidelines.

Enjoy a Fantastic afternoon,
Jackie

[Camlocamol]

I woke up to see we've taken a beating in the USD/CAD and GBP/USD.
It is unbelievable and it lookes as though our 1000 pip stop/loss can
well be hit.

I've experiemented with a few hedging egies that have worked
well in my personal account but I have not shared them only because
they're experimental. If our stops get hit we'll be come out of this
market and reassess the market movement prior to re-entering.
The next couple of trading days will be quite interesting.

Jackie

[Camlocamol]

Trailing stops triggered on the EURO and so far we're positive 34 pips

No alterations to transactions to note. Today was a good trading day. Let us see what tomorrow has in store for us. Tomorrow morning I'll like open two trades.

Take care,
Jackie

[Camlocamol]

No one ever said forex was easy money. Our GBP/USD trade hit it is
1000 pip stop/loss that we knew would eventually occur. If you
followed proper money management rules that has been a 10% reduction
on your account. Over all the market has been bullish on the dollar
we do anticipate this to undo and we will watch for the reversal. We
have already seen a big slowdown in the previous week.

One pair has reversed and we've placed a trade on that pair.
Sell Stop USD/JPY 108.50 with a 500 pip stop/loss. Just risk one precent
of account balance with this particular trade.

Have a Fantastic pippin afternoon,
Jackie