Ara Trading Journal, Trading Based on Market Habits - Page 2
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Thread: Ara Trading Journal, Trading Based on Market Habits

  1. #11
    Trader ara's Avatar
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    Quote Originally Posted by coolless View Post
    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.
    Thanks mate for your suggestion, yup I think you are right in this case, I still have to improve my trading way especially in terms of implementing stop loss and take profit point. I hope I can improve it as soon as possible. Currently I still use very small lot size for my trades.

    Quote Originally Posted by Eneregha View Post
    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.
    Yup that's what I mean, I've the same mindset as you are. Thanks mate... for your contribution. That's give me an idea for my trading.

    BACK TO MY JOURNAL
    My current orders in three pairs, seems like not bad and according to my expectation. I've closed some trades on these three pairs and still hold some trades.

    AUD/NZD
    2018-04-19_062904.jpg

    AUD/USD
    AU.jpg

    USD/CHF
    UC.jpg

  2. #12
    No matter the strategy you use money management should be your first priority in this business because it will definitely help you to achieve your aim, trading strategy really works when you still go along with a good approach about it, a trader that needs to succeed should always work with self control and confidence in forex market. Honestly it is not that easy to do of course forex market is unpredictable at all times.

  3. #13
    Trader ara's Avatar
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    Quote Originally Posted by coolless View Post
    Honestly it is not that easy to do of course forex market is unpredictable at all times.
    yup, that's right, there are no successful trader without applying money management to their strategy, and there are no holygrail trading strategy in forex trading. Thank you for your contribution brother....

    Back to the journal

    AUD/NZD is now correction to the lower bullish trend line that I used as the support line for bullish trend in this pair, so I've to add another one buy order on this pairs.
    2018-04-20_061942.jpg

    I see on USD/CAD weekly chart there are similar condition to AUD/NZD, the price has already touching lower trend line as support bullish trend. So I also put the buy order on this pair too...
    2018-04-19_204226.jpg

  4. #14
    Trader ara's Avatar
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    My weekly trading evaluation

    2018-04-21_083517.jpg

    This last week I've raised my equity around +/- $240, and my current profit is - 55.44 in loss for 6 orders on three pairs.
    I've good positions on usd/cad and aud/nzd, but have bad positions on aud/usd, yes that's very bad situations for my orders in aud/usd. But I still confident to hold my current orders on this pair because I see the price is now reach the support area.

  5. #15
    Trader ara's Avatar
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    2018-04-23_093157.jpg
    I make a simple analysis on Aud/usd pair, the price is already near to the bullish support area (trend line) by using Daily time frame.

    2018-04-23_093212.jpg
    I also make an analysis on H4 time frame, the price is already touching the support area.

    So I think it is not bad situation for me to open a new order for long position, although there is a strength to bearish trend, but I am curious whether the support area has the power to reflect the price for a reversal. I've to see what will happen to the market soon, Of course I have to be careful because I have multiple buy positions with averaging in aud/usd, so I must have plan B as an anticipation. Wish me luck.

  6. #16
    Quote Originally Posted by coolless View Post
    No matter the strategy you use money management should be your first priority in this business because it will definitely help you to achieve your aim, trading strategy really works when you still go along with a good approach about it, a trader that needs to succeed should always work with self control and confidence in forex market. Honestly it is not that easy to do of course forex market is unpredictable at all times.
    There are many rules of trading, but the rule of money management is just one, we have to use it every time we are trading. Trading strategies will make us lose as they are not prefect to defend our accounts. It is money management that can defend our account when the strategy we use has failed us too many times.

  7. #17
    Trader ara's Avatar
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    Quote Originally Posted by Toyen View Post
    There are many rules of trading, but the rule of money management is just one, we have to use it every time we are trading. Trading strategies will make us lose as they are not prefect to defend our accounts. It is money management that can defend our account when the strategy we use has failed us too many times.
    Strongly agree with you my friend...

    Let I see what is my current condition in AUD/USD, wow this is a bit worst situation for me on this pair, I see the price goes down more and more, and I do a little bad of analysis few days ago, okay this time I will add an opposite with low lot size to reduce my floating loss, and I will try to waiting the price in the "O" area. At that area I think the best time to put an order for correction or reversal.
    2018-04-24_081304.jpg

  8. #18
    Quote Originally Posted by Toyen View Post
    There are many rules of trading, but the rule of money management is just one, we have to use it every time we are trading. Trading strategies will make us lose as they are not prefect to defend our accounts. It is money management that can defend our account when the strategy we use has failed us too many times.
    There are so many rules we need to be serious with money management is one of those important rules we need to be very serious with cause without a good money management we cannot survive in this business for a long time, we need a proper money and risk management in order to survive in this business as long as we want, if we want to succeed with any currency pair first we need to analyze the pair for example audusd and then invest the amount of money we can afford to lose to keep our other capital safe that is money management.

  9. #19
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    Quote Originally Posted by Eneregha View Post
    if we want to succeed with any currency pair first we need to analyze the pair for example audusd and then invest the amount of money we can afford to lose to keep our other capital safe that is money management.
    That's correct, I agree with that.

    But this time I feel dizzy when I see my orders on aud/usd, haha... I have many buy positions on this pairs with averaging positions, I still waiting for the market response at this area..., for now the price is near to support area, I think this support level still difficult to be broken by the price..., so I just hold all of my buy positions till now.
    2018-04-25_165355.jpg

    And I also open new trade on aud/chf.
    2018-04-25_165244.jpg

  10. #20
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    Current condition: I have several open trading positions in 3 different pairs. My positions in aud/nzd is floating profit, in aud/usd is floating loss, and in aud/chf is still fifty-fifty between profit and loss. Those three pairs are contains AUD, yes I do trades in all aud pairs, I don't want to see AUD is more weak anymore... hehe

    I see there are a little chance to get profit on another pair, though I am not sure with my analysis, but still I decided to open a position in cad/chf. This is just a form of my greed. hohoho
    2018-04-26_131929.jpg
    The price is now enter the old consolidation area in daily chart, old support-resistance could become new support-resistance at the same price levels. Don't sure...,,, I just tried to enter by my own analysis.

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