Forex Trade Journal

Discussion in 'Forex' started by positiontrade, Feb 19, 2008.

  1. My first day trading forex. I figured I'd pick it up when the stock markets are closed.

    Not enough pip movement?
  2. Is this real or paper trading? If you are using live money, I suggest that you start with only $100. I have taught some to trade, and I will ask one of my students to send me the link to her equity curve. If she sends it to me, I will post the link. You will be able to have a look at her equity curve, leverage, etc.

    In addition never trade more than 2 times your money at the beginning. Maximum should be 7 times, and only when you become a top trader.
  3. 8PM make trades involving JPY (some movement)
    2PM European currencies (EUR/GBP/CHF) (more movement)
    8Am New York session. Everything moves (highest movement)
    2PM to 7PM: sleepy.
  4. Used the same skills trading stocks applied to forex. AUDJPY broke through my trend lines, shorted for 150 profit.
  5. charting downward trend shorting for profit.
  6. I think that it is trying to reverse on daily chart. I took profits. I want to see a bounce back up, then short on weakness. Current resistance seems at 158.80. It may even go back up to 159.10.
  7. As I made profit on the move down, and I think that it would go down, I will only short on bounces up after weakness is confirmed.
  8. I am going to cover the position I sold at 158.60, at 158.40.
  9. My eyes didn't catch the resistance till I looked at the 15 min charts. I'm also short the USDJPY at 107.90, very similar patterns for EURJPY too.
  10. Covered. New resistance at 158.53. After that 158.65, and 158.80. I will wait for the bounce, weakness, then sell again.
    #10     Feb 20, 2008