Ara Trading Journal, Trading Based on Market Habits
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Thread: Ara Trading Journal, Trading Based on Market Habits

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    Ara Trading Journal, Trading Based on Market Habits

    This is my CopyFX trading journal....

    Trader: ara https://my.roboforex.com/en/copyfx/p...rs/show/11285/
    Forum nickname: ara
    Account number: 2704542
    Server name: RoboForex-Pro
    Account type: CopyFx Pro-Standard
    Leverage: 1:500
    Budget: 939.27 USD
    Rating: http://www.copyfx.com/ratings/rating-all/show/11285/

    CUrrent Offer:

    Offer scheme: Trader on profit
    Add date: 19 January 2017 14:58:06
    Start date: 19 January 2017 14:58:06
    End date: 18 January 2019 00:00:00
    Risk level: Medium
    Commission for profit: 35 %
    Pie size: 200 USD
    Trading strategy: unspecified




    Description
    First of all, thank you Roboforex for this forum discussion, thank you admins and thank you for this "trading journal section" that give me a chance to write and documented my trading journey although it maybe a bit late for me to creating a trading journal for my own COPYFX account. This trading journal is made for evaluation material for me personally, and also as a discussion material for members in this forum. I don't have a good English, but I'm sure you understand what I wrote in this forum.

    My backgorund

    I started learning forex trading since 2011, but I don't do it full time because I have a regular job, I just use my free time to learn forex, and it's not much portion of time. But now I already have a lot of time to do the forex trading business because I already resign from my main job. And I think it would not hurt for me to make a trading journal for my COPYFX account. Although I have more than 7 years experience in forex trading, but honestly, I am not a good trader yet, I am not a successful trader yet. I don't have much investment in forex. I thought maybe I should start it seriously from now on.


    Trading Based on Market Habits

    There's nothing special about this trading system, I've used hundreds of trading systems especially technical systems, but all of them make me fail. So it took me at one point that changed my mindset in forex trading. I think that all trading systems are good as long as the trader himself has a good mindset. And in essence is money management. This market is high risk especially if we use high leverage, so.... the risk management is very important. And also the most important thing is just "RELAX" while doing trading activities whatever the situation that we find on the market.

    This trading system based on supply/demand, support resistance only. Most of time I only use technical analysis, and i think we can know the market fundamental condition even though we only analyze the chart. I don't use the complex trading indicators, most of the times I only use market chart without any other indicators, but some times I use trend line and horizontal line. But in this trading journal maybe some times I'll use some other indicators, because all indicators is good and have similar concept because all the things in forex is only about "Trends and Overbought/Oversold", we just analyze the point of "retracements, breakout, and reversal". I trade on H1, H4, and D1

    Money Management

    At first I wanted to risking my 50% balance, even I would risking up to 75% in certain market situations, but in fact up to now my drawdown is only around 20% during my trade using this system. I use 0.01 lot size for 1000 usd balance, but I trade in several pairs and I have more than one trading positions at once both "buy and sell".

    I wan't to trade in forex as ENJOY as possible...

    You can monitoring the current position of this copyfx account on the first page based on all traders ratings...
    http://www.copyfx.com/ratings/trader...ffers-all/all/

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    Last edited by ara; 04-19-2018 at 12:11 PM. Reason: adding my copyfx account detailed

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    Registered user ara's Avatar
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    Ok, this time I have trades on 3 pairs... AUD/USD, AUD/NZD, and USD/CHF

    AUD/USD
    2018-04-13_125146.jpg
    I've buy position 0.04 Lot @0.7689, I still hold this trade in profit.
    The price now seems want to break out from "1" as the first resistance, if this is a true signal then "2" as the second resistance is the first target point.
    But if this is false breakout signal, then the price tend to back to the "X" as the consolidation area.
    I used H4 time frame for this analysis.

    I hope this is not a false break out signal, I do not want to expect too much in this condition. Because after all, I need to have another plan.

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    Registered user ara's Avatar
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    Good, Aud/usd is now raised to 0.7795
    2018-04-13_152505.jpg
    I'll close 0.01 lot size for this position, so the rest will be 0.03 floating trade position in profit.

    My position in AUD/NZD
    2018-04-13_153344.jpg
    The bearish trend of aud/nzd has touched the consolidation area at the support level (blue shape in D1 time frime), I think this is the right time to take a buy action assuming that the price will be retracement or maybe reversal. I divide the lot size with some averaging positions. For the current time I have 3 buy positions in aud/nzd. Let we see...

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    AUD/USD H4 there are rebound @ 0.7808 tend to back to the consolidation zone in the blue shape area.
    2018-04-13_212033.jpg

    AUD/USD H1
    2018-04-13_212348.jpg
    I tried to attach bands indicator, period 20, deviation 2.
    The price touching middle band, I tried to put buy with 0.05 lot size.
    I don't use stop loss and take profit in all of my trades on this systems, I just close the orders manually in profit or in loss.

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    I still hope for bullish trend on AUD/USD even though the price is still in the consolidation area and there is a balance from the market thus forming some tailed candles in D1, but the price has broken out from the bearish resistance trend line (red trend line).
    2018-04-16_150411.jpg

    More clearly seen from the weekly chart the price looks now in the support of bullish trend line (blue trend line), so I think for the long term I still have hope for bullish and open a new buy position so I have 3 buy trades in aud/usd.
    2018-04-16_150427.jpg

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    it is good to have your own trading journal to tell us about your way of trading and also this may let the members here to help you if you want any help, any trading strategy can work well if you can use it properly and follow its rules, you need to be patient and choose the strong chances of trading and so this will help you to make profits.

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    Quote Originally Posted by sameeh View Post
    it is good to have your own trading journal to tell us about your way of trading and also this may let the members here to help you if you want any help, any trading strategy can work well if you can use it properly and follow its rules, you need to be patient and choose the strong chances of trading and so this will help you to make profits.
    Thanks mate, yes I hope I can be patient always..., So far I've never made a trading journal or just a note for my trading activities. That is why I use this forum to make a trade journal to find out how much my quality improvement. Thanks for your suggestion and input mate ....

    back to my journal
    I have 2 orders in USD/CHF, my analysis for usd/chf: the price is now in the support area on the bullish trend line. So I made a decision to buy at the current price.
    2018-04-17_084726.jpg

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    My order for aud/nzd and usd/chf match my expectations.
    Aud/nzd is now starting up. But I think this is only a correction on daily or weekly chart for a while before eventually there might be consolidation in this time frame. I am using Daily chart for aud/nzd analysis.
    2018-04-18_072630.jpg

    Usd/chf is now bullish, the price bounced off the bullish support trend line. this is in accordance with my analysis on yesterday, I will close one order and monitor what will happen next.
    2018-04-18_072540.jpg

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    Well it is good that you takes time to show us about your trading strategy of which is not bad at all, but there is something that I will not adopt about your way of trading, If am not mistaken, you say, you don't make use of stop loss or take profit in all your trades, of which to me it is not that nice of course forex market is unpredictable no matter how accurate you are in your analysis, you should consider take profits, anything can happen at any time in forex market.

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    I also think that all trading strategy are good as long as you make your mindset right and also use a proper risk and money management, if we follow the habit of the market to trade with a good mind control we can make money in the market easily, I also agree that we don't have to make use of stop loss and take profit in every trade we just have to close some trades manually.

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