Trade Log

[mastachief]

Hope this goes well, reversed position at resistance with macd crossed 0 line;
I am new to trading and like the ideas of macds, but implementing them on trades is still very difficult for me.

Edit: sorry, file didn't upload the first time:

 

[mastachief]

just exited this one EURJPY-- 1 trade today so far, trading off of support at the macd's turning
Entry: 113.57
Exit: 113:70'3

 

[mastachief]

2 more trades, one addon retesting resistance and 2 on the way down;

one stopped out trade trying to break through; made nice pips today so I'm done :nerd:

 

[mastachief]

first trade this monday, up on the day so far
entered breaking support with strong macds
closed hitting support with weaking macds

 

[mastachief]

2nd trade and done today

 

[mastachief]

just finished today
second entry was a bit late because i was distracted
reached my first target, positive stopout on the 2nd exit

 

[mastachief]

first trade of the morning; had my target set further at a previous area but pulled it up at new support formed

 

[mastachief]

breakout below support, macd's down but this one came back on me

 

[mastachief]

Haven't taken any trades yet today. Instead, giving myself a 1 week critique to figure out what I have learned over the past week through trading, advice and reading generally on these forums and how I will implement it moving forward.
My goal is to go live within 30 days if I can maintain profitability.

1. Having read a good deal and being around trader friends, I already had the hang of key concepts like support and resistance; I chose the macd's to trade with because I like how the movements within can show directional change in price.

2. Being new to actual trading meant learning the trading system-- NinjaTrader free, demo account for 30 days to test how I want to trade. Learning how the Chart Trader works has been a work of trial and error, but I think I have it down now.

3. Understanding exactly HOW I want to take trades based on combining my support, resistance and macd's. Taking trades when price turns off of s/r areas and the macd's show a change-- either turning down and the bands cross, or crossing the zero line and strong in the direction while my price breaks the s/r area or turns off of it. This works well for me and is easy to see.

4. Understanding my exits; I don't have a set stoploss or profit target; I typically just put my stoploss behind the s/r area I'm coming off of, but in effort to reduce my losses on negative trades I am trying to tighten those up and place them (when the trade is farther away from an area) behind a pivot within the area-- this reduces my stops from 20-30 to around 10-15 in some situations.

5. Profit targets; I have been putting my profit target at the next s/r area, and that seems to work fine.

 

[mastachief]

First trade of the morning