Closed all hedges.
Trade # 008-06-SAVA-008
Currency Traded - EUR
Impact = 86 pips
Balance - $675.77 USD
Closed all hedges.
Trade # 008-06-SAVA-008
Currency Traded - EUR
Impact = 86 pips
Balance - $675.77 USD
I shorted one of my very favorite but dangerous pairs during the London Market, also must make a few pips off of it. I still have a trade open looking to either shut it sometime during the US Market or make it open for a little while longer.
Trade # 008-06-SAVA-009
Currency Traded - GBP
Impact = 66 pips
Balance - $741.49 USD
I opted to shut the open position because I am not sure what is going to occur during the US market open, and do not wish to take any opportunities right now.
Trade # 008-06-SAVA-010
Currency Traded - GBP
Impact = 10 pips
Balance - $751.66 USD
What method do you use? If you care to share. Apparently it's serving you well. Require cre and God bless.
Hi eagle47,Originally Posted by ;
I wish I had an EA or a 100% mechanical system created for the way I trade. If this was possible life would be much easier. I've tried over and over to look for the perfect system for several years realizing a system that match my trading style did not exist. I can not depend on any mechanical platform because market conditions are constantly changing. You'll discover that lots of systems created work well only if specific conditions are met. This isn't to slander any EA's or mechanical methods like I am sure there are a number of excellent ones on forum itself.
I've been investing in currency for a couple of years now, and have studied a few pairs on a more intrie level. I haven't been happy with my trading style since I always wanted more pips, more trades, more, more importantly. With this mindset I kept searching for the perfect system to even compliment my trading style. As a result my accounts will suffer considerably.
After awhile I realized that nothing works with patience, cash management, following the seven laws, learning the way to market effectively and learning everything on your own without relying on anybody or any 100% mechanical system. So I came up with this kind of trading style and'm testing it for the very first time.
As for your original question there is no system I use. Simply trading with what I have studied, using just the knowledge I have gained to influence my trades without having any outside voice impact my trades along with a couple handy indiors.
As for the indiors I utilize that might help you out the most. I love, and I repeat love using Fibonacci retracement tools. Fibs are your own friend. In addition to fibs I utilize Patterns, Gann lines, Elliot Wave Patterns, Candlesticks, Ihimoku Kinko Hyo, Moving Averages (10,20,50,and 200 most of the instances ), and some other indiors.
On H1 timeframes I utilize MACD (12,26,9) Stochs (5,3,3)
On a M15 timeframes I utilize Stoch (5,3,3)%R(14), RSI (10)
I utilize other timeframes too depending on what type of trade I am searching for, and what currency I am seeking to get in.
Along with this I also utilize the first model of eASCTrend 6.0 (not the one made for MT4, the first version)
Following years of trading I realize that everyone on here has good indiors they utilize but after several losses on the account they're on the hunt for something better. This is precisely what I have done for several years.
I would really advise you to actually, and I mean really study and concentrate 1 currency pair at a time alone, and then with one indior at one time. Begin with a M1 timeframe. Don't rely on anybody else, because as soon as they fail you will be let down. I have tried this several times.
You can exchange currency and not need to rely on anybody or any platform. It takes a lot of work and several challenges will appear. It may seem complied initially but after trial and error you will realize that investing in a pair isn't as tough as it appears. It will become easier in time, and trading will be fun.
I am not sure if my trading style will work 100 percent for me or for anybody else. That's the purpose of this diary, to help make the trades I enter much better.
I hope this helps in some kind of way, and hope you truly take what I have written to center. I wish I could help people, but in all honesty keeping this diary along with trading, obtaining a fulltime occupation working 60 to 70 hours a week with multiple changes each day in building, preparing for union in 1 year and everything else has me in a complete plate. I have to say I am very, very blessed to be able to have a project where I can use a notebook for sometime during work. Along with friends, family and a woman that stays on my side bad or good. Thru God's grace, anything is possible.
God Bless,
Throughout the Asian session I actually didn't see much for me to trigger a transaction. I got in a small commerce but got out early since there wasn't any actual direction for the British Pound. However I did invest in some good sales on a couple trades involving the British Pound and the Euro. These trades may take a couple days to close which is fine since I have locked in some profit from my original balance. I am using a longer term egy (Frequent Flyer) to close out the trades. If the trades go against me, I will hedge the account. Right now the open trades are in favorable pips. Right now I am not looking to get into many trades since I don't need to leverage the account until the open trades close. I will open one trade at a time if I could get in and out real quick for a 5 to 30 pip profit. Meanwhile, I will continue to upgrade the diary if there are any modifiions.
Trade # 008-06-SAVA-011
Currency Traded - GBP
Result = 6 pips
Balance - $757.84 USD
Closed the open commerce around the Euro in order to get a better discount. Produced a few pips before I closed it. I have two GBP orders for Frequent Flyers and I am adding another one because I closed the Euro trade. The transaction went against me during the US session thus hedged the GBP order for 30 pips. Balance incorporates triple day interest.
Trade # 008-06-SAVA-012
Currency Traded - EUR
Impact = 5 pips
Trade # 008-06-SAVA-013
Currency Traded - GBP
Impact = 30 pips
Balance - $793.01 USD
Throughout the Asian semester I was able to close all my transactions. I didn't anticipate these transactions to close so early. I was kind of hoping that the transactions would require a few days, and I wouldn't trade, but instead have a break as I am really busy with work. All 3 Frequent Flyers for GBP are closed.
Trade # 008-06-SAVA-014
Frequent Flyer - GBP
Result = 140 pips
Trade # 008-06-SAVA-015
Frequent Flyer - GBP
Result = 140 pips
Trade # 008-06-SAVA-016
Frequent Flyer - GBP
Result = 108 pips
Balance = $1,180.78 USD
Throughout the US Market and a bit afterwards I opened two trades one to get a buy, yet another to get a market. I dropped a few pips on the buy, if I was a bit more patient I'd of been at the green. Next commerce made up for the loss, plus a few. Still looking to get on a Euro commerce if I can purchase it at a fantastic price.
Trade # 008-06-SAVA-017
Currency Traded - GBP
Result = -17 pips
Trade # 008-06-SAVA-018
Currency Traded - GBP
Result = 55 pips
Balance = 1,218.29 USD
During the Asian semester I was able to find a Euro pair at a fantastic price. I took the transaction, but made out to early. Easily could of created over 100 to 200 pips. Instead I only made a few pips. I won't be trading todays US Market since I am way to busy over here, but there appears to be some good setups. I'm not worried to lose out on some trades or shut trades first, if I'm to have the ability to make successful trades, there's always next week. I'll be back later this weekend to upgrade the journal, give some ideas on a few things with a few changes. Thank you.
Trade # 008-06-SAVA-019
Currency Traded - EUR
Result = 26 pips
Impact = $1,245.84 USD
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