Adventures of a Trader 2

Discussion in 'Journals' started by cashmoney69, May 24, 2008.

  1. Welcome back! :D . It's been 10 months sinse my last journal

    post from my old journal Adventures of a new trader

    , and I've returned to start a new journal focused on Forex. I

    dont have much in this real money account ( but i paper trade

    too), so I want to put this out right now:

    1. I know stops may be too big for my acct size (usually 30-50 pips) This generates big % swings, but I cant do much about it right now. No, I'm not going to stop trading.

    2. I know risk/reward ratio my not always be a perfect 1:3. If the setups are successful, thats all that matters


    My Method

    I'll be placing my trades off trend line analysis, as well as

    . I wont trade the day OF news, because of the volatile,

    and unpredictable movements, unless its a scalp for 30-100

    pips. 50% of my trades are intraday, and 50% are swings..this

    is unintentional as the holding time for my trades is really

    unlimited. There will be three types of trades I will be

    making, and they are simple in nature:

    * Trend following - buy/sell.. short/cover off trend lines
    * Breakout/ Retracement - Wait for a 30-50% retrace before entry
    * Scalping News - long/short from important economic news releases.

    Because the markets are 24hrs a day, I might not post my PnL everyday.

  2. C- kid

    C- kid

    cash kido I will PM you

    you are not moving in the right direction over time
  3. Forgot to add from my last post that I'll also be trading overbought/ oversold levels.


    Forecast for the week


  4. .

  5. And how would u know Mr. I registered May '08 ? You another poster w/ 10 different handles ?
  6. Here is where I stand right now before trading starts this

    sunday afternoon. There should be 3 tabs in the excel document

    I've posted.

    News releases this week:

    sun --> NZD trade balance

    mon --> NZD inflation expectations

    tues --> USD new homes sales

    wed --> USD durable goods orders

    thurs --> GBP Nationwide house prices
    --> USD prelim gdp
    --> NZD building consents
    --> bernanke speaks
    fri --> CAD gdp
    • fxj.xls
      File size:
      55 KB
  7. LONG 1 AUD/JPY @ 99.15
    STOP 99
    TARGET: 99.3

    Retracement to 31.8%
  8. out a/j 99.23
    +8 gain
    - 3 spread

    PnL +5.00
  9. You can run but you can't hide.

    You are the same lunatic who changes nicknames every several days but keeps the same personality over and over again.

    Your writing and stupidity gives you away, "cold".

  10. C- kid

    C- kid

    only reason I got new name is cause MODS kicked me for joining anti SCT group

    but since you called me stupid, that means you are stupid, you are not taking advantage of wisdom I offer
    #10     May 26, 2008