pipprincess trading journal

[amyab]

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!

[amyab]

^^ Thank you!

GJ, Long @ 227.85, SL 226.50, open goal.

Missed the start of the down move at London open. I had been waiting for a pullback to go short, but following the rejection at 226.50, the break upwards of 227.70 looked like a resumption of Friday's long. Long at 227.85 - not a great price, but it should not matter too much when it turns out exactly the way it seems. Emotional alarm bells @ 227, difficult stop @ the day low.

[maulvami]

Great thread pipprincess, I'll be watching it closely. Wish you lots of success and lots of profit.

[amyab]

^^ Thanks hon ~~ wishing the same to you also!

Wow. . That was a boring price action after I accepted this trade; glad I was not watching it! Tightened the stop on it to 227.30, around where the pullback from the London high ended. Im in serious danger of becoming bored from the now though; the move I thought could happen (another test of 229) did not play out, but I am up about 30 at the minute and I am usually from my day transactions through this time. Thus, trying to decide if this is really worth holding or shut and have a fresh look at it tomorrow.

[amyab]

Nothings actually occurred nonetheless to shake my reason for taking today's long commerce, but boredom won and I just closed it to get 43 @ 228.28 will see exactly what things look like again tomorrow at London open.

[clipe]

Yep, I have been waiting for the rest 229 for a few days myself and it has been slow going indeed. I picked up a couple of pips after the open yesterday short, then went long for a few and I am short again now for something to do. I am working the 5m charts right now and so far it has been going fine although still slow.

Good luck pipprincess!

[amyab]

Good morning MickD. Yeah... seems like we had been looking at precisely the exact same thing. It didn't work out to plan, but I read your blog and thought you played with it excellently.

Anywhoo... I believed a break of the swing reduced to 227.20 looked promising before. Got the slightly better price of 227.24 with a halt 70 pips off at the peak of the pullback. Things looking better now the monday low's been broken. Around 100 at the minute.

[amyab]

Closed @ 226.19 for 105. Rationale: the down move seems exhausted in the brief term and I am delighted with the pips obtained for now.

[memelle2014]

Hi pipprincess, goodluck in your diary, I only have a couple questions for you. When you say you utilize price action do you use snare bars, inside pubs, candlesticks, aslo are you trading full time?
I have been trading for a year and have mixed results so I want to move forward and exchange full time within the following calendar year.

[amyab]

Hi Fxtrader,

No, im not investing full time yet; I want to see * * another complete year of profitable trading before I think im ready for this, so if things work out ill be trading full time time in '09. In terms of price action, I find it hard to adapt to snare bars so I use candlesticks and plan the trades onto IBFX metatrader charts.

Hope this helps.