WaveRider Trade Journal

V_Minh_T

Corporal
Messages
75
I keep a separate concise journal on my PC of positions and some notes for myself. I'm forcing myself to write a legit analysis of what I think is going to happen as a mental exercise. I even do a Sive Morten syle video analysis that I don't post as away to educate myself. When you attempt to explain something, you expose flaw and gaps in your own thinking and are forced to go back and look at yourself. I'm all in baby!!

I decided years ago, I was going to be a good trader and not a snake oil salesman. I think this is my path.
Good writing, keep it up if it helps you and if there are readers that may be interested in reading it!
 

WaveRider

Master Sergeant
Messages
350
Put 2% on the account this morning during the NY session. Another 2% and I’d be happy to go surfing the rest of the week. I’ll post tomorrow. GBPUSD and EURUSD may be moving more than I thought. I closed those positions in line with my original plan but I think I could have left a runner position in there.
 

RahmanSL

Major
Messages
2,876
Journaling keeps you honest with yourself. My old journal was a lot of noise so I'm abandoning it. I trade a lot differently than I did 10 years ago when I joined FPA. I'll be posting my trade set ups and wins and losses. Was busy for a bit but I should be able to post regularly. Don't give up. I wish everyone happiness and success. Except Pharaoh. He owes me a beer. Thanks to the mods and RahmanSL for being so cool over the years. Ok, Pharaoh too.

Wish me luck, everyone.
Welcome back my friend :D...it's indeed been a while since you have been around. Hopefully, your forex journey will be much more pleasant and profitable this time round.

Take care and happy surfing for the pips!
 

WaveRider

Master Sergeant
Messages
350
Welcome back my friend :D...it's indeed been a while since you have been around. Hopefully, your forex journey will be much more pleasant and profitable this time round.

Take care and happy surfing for the pips!
Thanks brother. I did ok in previous runs, just the account is bigger now.
 

WaveRider

Master Sergeant
Messages
350
Put 2% on the account this morning during the NY session. Another 2% and I’d be happy to go surfing the rest of the week. I’ll post tomorrow. GBPUSD and EURUSD may be moving more than I thought. I closed those positions in line with my original plan but I think I could have left a runner position in there.
Well GBPUSD tanked today so I'm glad I went flat yesterday. We'll see where we stand afterward. I think this is just a run to shake out the traders. We cleared some old highs during the Asian session and now the GBPUSD is clearing out Monday's low. EURUSD is still in a buy program but I'm not in either pair today I think EURUSD will be reaching for last weeks high at 1.2265.

GBPJPY plan still holds
 

WaveRider

Master Sergeant
Messages
350
Closed out a floating loss by accident bummer. It was only about a percent drawdown. The myfxbook says I'm doing fine though. I closed out a couple of other trades in profit to land a tiny positive for the day. I've got one NY close trade open because the context is very pretty and the risk is tiny. We're at the top of a harmonic, in a down trend and at the right time of day. The risk on this trade is about 0.5% and the reward would be about 2% if I let it run. Since this is a time based trade, I'll close it put probably during the late Asian session today regardless of where it is.


6-1-21 AUDUSD sell.png

6-1-21 Are we in profit.png
 

WaveRider

Master Sergeant
Messages
350
GBPJPY plan still holds
I was able to close this trade out at break even. The price is still sitting inside the previous ranging channels 133 pip box but I thought it was going to go up and down, not down. The area but broke lower than I thought. The context is valid but my entry was not so hot. Glad to have closed out at BE while being wrong. I'm not sure if I'll trade this pair again this week. The K entry would be 154.64-69. That's the 61.8 % retracement of the swing up and the 161.8 FE of the swing down making a 222 buy. I'd consider this a safe low risk entry but we'll see how the week progresses.
6-1-21 GBPJPY context.png
 

WaveRider

Master Sergeant
Messages
350
A trade I missed! I should get greedy and let FOMO make decisions form me? This is a very good London close trade that's happening now. The context is that we've cleared an old high, allowing London and NY to take profits. It's counter trend but is a nice scalp set up.

Here's the old high with buy stops from the trend traders.

6-1-21 CADJPY london close 1.png

Here's the set up. This only makes sense because of the time of day, and because the 5m chart shows a break down in market structure, and the risk is very low and reward pretty good, even a 1:1 is perfectly acceptable here. 15-20 pips retracement is very common at the end of the trading day. This is a high probability set up and you can just risk a little and trust the math. 1 is the low formed, 2 is the new low formed showing the market wants to go down (maybe), 3 is your safe entry. If the price clears the tops, you were wrong and take your loss. Today it made money.
6-1-21 CADJPY london close 2.png
 
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