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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 ..
    Attachment 2047
    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

    Attachment 2050

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    Last edited by ndselvam; 10-26-2013 at 01:19 AM.

  2. #21
    Registered user Quid's Avatar
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    Quote Originally Posted by Niyamat332 View Post
    This may be a actual nice way to trade, back the banker sees the basal or the top, that is the time he is demography the advantage of this blazon of trading ways, it will absolutely booty time for the success to appear because this is not the aforementioned with the cardinal trend trading that i know. In this blazon of trading, stop accident is the best saviour of traders.
    Nice to trade but we need to see how the bazaar could really be actually winning trades,to show how profit can be gained through the advantages of this winning ways,we make the nice trade with the good information,then the trade will give much profit with good water too.

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    Finally successful traders

  3. #22
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    This may be an exceptionally pleasant approach to exchange, when the merchant sees the bottom or the top, that is the time he is exploiting this sort of exchanging ways, it will unquestionably require some investment for the triumph to come in light of the fact that this is not the same with the number pattern exchanging that i know. In this sort of exchanging, stop misfortune is the best friend in need of merchants.

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  4. #23
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    these thing gives us a good trading experience 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 .
    if we all trader follow this staregty we can make success

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  5. #24
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    Properly, with this particular explanation, it may be said the current market with this particular is almost ideal, i cannot call this ideal because nothing is ideal out there, this warning is usually great in the event this didn't artificial investors, even so the administration that you will be employing is usually this i love plainly ought to tell you comprehend concerning this. The danger for you to prize is incredibly great 1: 3.

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  6. #25
    Trader Dheeraj123's Avatar
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    Great strategy mate I think our trading risk should be always very less in forex we loose our money most of time when we become greedy and emotional in trading I always suggest to use proper money management in forex that will give us a very nice help to use our capital nicely in trading

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  7. #26
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    This may be an exceptionally pleasant way to buy and sell, if your trader sees underneath or perhaps the very best, that's the occasion he could be using the benefit of this dealing ways, it will surely take some time to the accomplishment in to the future simply because it's not exactly the same using the number trend dealing i always know. Throughout this dealing, halt decline is the better saviour associated with traders.

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  8. #27
    Registered user Quid's Avatar
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    Quote Originally Posted by Dheeraj123 View Post
    Great strategy mate I think our trading risk should be always very less in forex we loose our money most of time when we become greedy and emotional in trading I always suggest to use proper money management in forex that will give us a very nice help to use our capital nicely in trading
    Our money management must be good,to limit the risk so we can trade with the lower volatility,the capital we set for the trading should be as good as the target,the greedy traders need to trade with improvement on their way to success,it is what we need for success.

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  9. #28
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    Quote Originally Posted by Quid View Post
    Our money management must be good,to limit the risk so we can trade with the lower volatility,the capital we set for the trading should be as good as the target,the greedy traders need to trade with improvement on their way to success,it is what we need for success.
    Money management is the most important weapon in forex business and trader who not care of it have to face bog losses or even margin call and stop outs,through good money management if we lose more trades than win than still we will be in profit because we set good risk to reward ratio for our trades..

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  10. #29
    Trader Dheeraj123's Avatar
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    What a great leverage selection I liked that mate 1:100 leverage is very good for our safety friend right mark48 I also think that money management is very important part of our trading if any trader will not care about money management in forex then he is doing a big mistake in trading

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  11. #30
    Registered user Quid's Avatar
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    Quote Originally Posted by Dheeraj123 View Post
    What a great leverage selection I liked that mate 1:100 leverage is very good for our safety friend right mark48 I also think that money management is very important part of our trading if any trader will not care about money management in forex then he is doing a big mistake in trading
    Leverage which we should use will depend on good money management,1:100 is enough high for traders to open deal with high amount,so it is right at all the money management is the very important trading part,we can not trade if we don't trade with good money management.

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