Thread: CoastalFX Trade Journal

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

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

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.

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

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

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

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

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

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

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