NDSELVAM- My Journal
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  1. #1
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    NDSELVAM- My Journal

    Day trade only - close before end of US session
    Setup:


    4-hour charts using zig zag indicator. I also use other time frame according to pairs and to find out what sort of 'noise' is happening in the market

    I also use different indicators according to pairs which I think has more relative indications to the particular pairs. Example bolinger bands to Gbyyen , some custom indicator like market profiling and currency strength.




    I only enter with very small lot . My risk to profit ratio is 1:3.
    My trades are leveraged at 1:100



    Goals




    1.Increase trade size from 0.1 to 0.2. Margin level should remain in safe level not more then 2 trades on a day
    2.More accurate execution required
    3.Analysis work need to improve
    4.Emotional control needs to improvement
    5.Created checklist - psychological
    6.Read book -One Good Trade by mike bellafiore, Playbook,daily trading coach by Brett steenbarger , recommended to me by Stan. Still reading One Good Trade
    7.Created emotional chart(performance anxiety factor)
    8.Look out for minor correction area before executing
    9.historical analysis on the week before the market starts - Every Sunday is good day
    10.Trade need to be closed before end of US session .




    I'm new to trading and still learning and experimenting with a lot of different indicators and strategies.
    Daily trade plan, No carry over trade as that method doesn't work for me well. Ive done carry over trade in the past and they turned out with loss .
    I've been keeping trading diary/journal since august but most of the trades were test and no real records were made apart from Performance Anxiety and Psychological tracking .




    Recent Trades.

    Enter short on Gbpyen at 157.426 sl 157.962



    1.Profit target - 1-155.*** , 2-154.000 3- 152.**










    Stop loss moved closer at beginning of US hours to ...157.286




    Stop Loss. Market moved up.
    No screen shot for this as I forgot .


    23/10/2013


    indicator - zig zag and swing trading.
    My views/analysis - markets retracement action. New bottom higher then previous low used together with new high market made for trade selection.


    4h Chart ..
    journal Eunzd.jpg
    1.Long Eu-nzd at 1.6229 SL - 1.6115 Tp- 1.6498


    Set Trailing stop loss 200 points .


    Closed out at 1.6410

    2.Long Eu-nzd at 1.6454 SL - 1.6396 Tp- 1.6498

    24/10/2013

    Noticed that level 1.6235 Provide good support/resistance. utilizing this zone to start the trade today.
    Short Eu-nzd at 1.6371 SL - 1.6410 Tp- 1.6235



    Update - Profit 10 pips market -stopped out by trailing stop

    eurnzd rever.JPG

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    Last edited by ndselvam; 10-26-2013 at 12:19 AM.

  2. #2
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    Hi, Andy. Good to see you here - but I don't see any screenshots and I don't see description of your trading plan.
    Please read rules more carefully

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  3. #3
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    Stan, they are otw. ill update them shortly . Too many items to filter out from my diary.

    Ill update them shortly . according the rules.

    thanks Stan

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  4. #4
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    Hi, Andy. Formal thing, but it's requirement of the contest - it's necessary to leave request here http://forum.roboforex.com/threads/1...s-quot-contest

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    nov 5 and 6 2013

    Done with the request Stan.


    Some trade of the week .

    This was a psychological attempt and it was hit.
    I didn't get a screen shot on time - no SL as well . but setup stop loss after 1 hr.

    Chart 1hr

    Indicator Bolinger.

    Reason= Market showed very convincing downtrend but I wanted to try the opposite as this pair GBPJPY been very cloudy in trend direction .

    Price enter - and price exit is marked

    mnd gpy.jpg

    This is trade for today . Based on same priciples of convincing upward move and the opposite trade is executed

    guppy 061113short.jpg

    Entry- 158.437
    SL=158.659
    TP=157.604

    Trailing stop 200 points

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    Last edited by ndselvam; 11-06-2013 at 05:26 PM.

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    NOv 7 trade

    enter -159.016 sl-159.300 TP-158.153 trailing 250 point
    ill cover my profit at fib 61.8

    This is based on Fib analysis and reversal from Fundamental effect



    Short guppy 071113.JPG

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  7. #7
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    This may be a very nice way to trade, when the trader sees the bottom or the top, that is the time he is taking the advantage of this type of trading ways, it will surely take time for the success to come because this is not the same with the number trend trading that i know. In this type of trading, stop loss is the best saviour of traders.

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  8. #8
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    Well, with this explanation, it can be said that the market with this is almost perfect, i can not call it perfect because there is nothing perfect in the market, the indicator is good if it did not fake traders, but the management that you are using is the one that i really love if i should tell you the truth about this. The risk to reward is very good 1:3.

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  9. #9
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    Thanks for the comments guys. Appreciate it .

    Haven't been updating lately. Will start to update this page again .

    Good hunting

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  10. #10
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    Quote Originally Posted by silverlady View Post
    This may be a very nice way to trade, when the trader sees the bottom or the top, that is the time he is taking the advantage of this type of trading ways, it will surely take time for the success to come because this is not the same with the number trend trading that i know. In this type of trading, stop loss is the best saviour of traders.
    When pair breaks out from a range, bollinger levels can be misleading as well as any other oscillators. Basic assumption of shorting upper Bollinger band is that market will get back to prevous range. But breakouts can last longer than we expect

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