My forex trading Journal - page 2

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Laurel
111
Laurel  

Its Sunday and forex market is closed today. It will open again tomorrow, I want to close my scalping trades after market opening.

I gain total 133 pips after I started publishing my trading journal with FBS. The highest profit comes through usd/cad trade, I took 64 pips in that trade.

But the overall result is not positive, there are some open trades in floating loss. If I consider the total scenario, I am in loss in total and I have to cover over 200 pips to reach in break even point.

I am hopeful those loses will be recovered with time. In the meantime, I will try to take more pips from some new trades. So, when market direction of losing trades will change and the loss will be covered, the total balance and equity will be more than the deposit.

I am happy with FBS with its execution speed, loading time, spread and others. But I am eager to ask a withdrawal. Right now, I have no plan to withdraw part of my deposit. I want to withdraw either my profit or the deposit bonus after unlocking it.

Laurel
111
Laurel  

For the first time after 11 January, eur

/usd is going to break the uptrend support line. If it can, it will be a strong signal of a possible trend change. So, eur/usd can be weaken this week, but first it need to break the support line clearly. A daily close below the trendline support is necessary.

I found some useful articles in FBS analytics, I am quoting it below:

Mizuho: EUR/USD is overvalued by 20%

Analysts at Mizuho Corporate Bank claim that the single currency is overvalued versus the greenback by almost 20%. Such conclusion is based on the comparison of currencies’ purchasing power.

More: Mizuho: EUR/USD is overvalued by 20%

Citi: time to cut longs on riskier currencies

Analysts at Citigroup claim that during the last several weeks investors’ trading strategies were determined by the positive risk sentiment. However, it’s time to finish such trade now, say the specialists.

More: Citi: time to cut longs on riskier currencies

Big banks and brokerage companies are suggesting risky pairs already completed the rallies, so a big correction is near. Trendline also says the same.

My running trades:

EUR/JPY at 36 pips loss.

AUD/USD at 115 pips loss.

2 more trades closed with profit today:

USD/JPY with 10 pips profit

GBP/USD with 4 pips profit

Those are scalping trades, so I took less profit. Today is 18 th April, the first day of a new trading week.

Best wishes for your trades in this week.

Laurel
111
Laurel  

Can you remember me?

Can you remember me?

Its Laurel, posting my daily forex trade journal to you for last 20 days in a regular basis. From the first, I was showing my live trading stats to you. I faced loss, I wrote about it and I accepted it. No business can run without loss and loss is a part of the business too. If you can accept it, one day you will see the profit too.

If you start thinking what happened to Laurel today, actually I am very glad. My FBS account is again on the track. I just kept the risk same for every trades and recovered all of my loses yesterday. Yesterday morning I was in 216 pips loss and now I am in 170 pips profit in total.

EUR/USD broke the major trend line support, so it fall over 200 pips yesterday. Due to this reason EUR/JPY became week and I closed this trade with 137 pips profit. I decided to close the AUD/USD trade with loss because after closing both two running trades, I still have 170 pips profit.

I have no open trade today. I am taking rest.

My account balance in FBS increased by 9%. I deposited $200, got $50 bonus. So, it was $250 in total. Now, total profit is $17.87 and as my plan I asked a test withdrawal of $10.

Lets see if FBS is quick in making payments.

Laurel
111
Laurel  

After prolonged resting period, I am back today.

In the the mean time, two things happen.

First of all I received my requested $10 payment from FBS. It made me little greedy to make more $$ and withdraw it and therefore I made another deposit in a new micro account. I made an awesome profit of $252 with it, here you can see:

I requested a payment of $251 at yesterday night. Today after wake up, I found a sms from FBS INC. In the SMS it is said that my payment is processed. Its a good service of FBS, sending sms notification after processing withdrawals.

Anyway, it was a one time test. I prefer to make consistent slow earning rather than making a lot through gambling, so I will stick with my previous account. I am in 200 pips loss in a euro/usd trade in that account but I will try to reduce the loss by doing couple of scalping trades today.

Laurel
111
Laurel  

Since its Saturday and market is closed, its not possible to trade.

Dollar bears passed a great week, the trend traders succeed to achieve many pips in last week.

I am in 200 pips loss in my eur/usd trade which is running now. eur/usd broke the daily trendline and there was a daily candlesticks close below the trendline support. It was the reason why I ordered a sell but that was a false signal and euro/usd goes up again.

I may open a counter trade next week if the rally continues.

Happy weekend!

Laurel
111
Laurel  

I just opened a new trade.

Its a sell order in eur/usd, I want to scalp with this calm market.

A problem of most brokers which don't have fixed spread is high spread at this time when USA session is going to close. FBS has a positive side for its fixed 2 pips spread for eur/usd. But I am not sure if they also increase spread at this time in mini account where spread is not fixed. Anyway, its not my concern, micro account is working fine with me.

Yeww .... Just took 1 pip from the trade which I opened some moments ago. So, its a profitable day after all, at least I got 1 pip today.

Anyway, I am not going to take any more risk today.

More 2.30 hour remains for todays' trading session, but my trading for today ended here.

I hope you succeed to make at least 1 pip today. Lol from Laurel.

Take care!

Laurel
111
Laurel  

For the past some days, USD is going down and down. It seems there is no ending of this fall.

Today was not an exception too, all pairs rallied against USD. Now, the only hope for USD bulls is FOMC statement for this week.

I traded this news for sometimes, I want to trade this news today also. I hope my broker will not create any problem at news time (freezing server, re-quotes etc).

I will give you an update at night.

Laurel
111
Laurel  

Take any number of pips before FOMC news time.

I took 2 pips from a trade, just opened another trade.

Everything is going fine till now, I am scalping with the pre FOMC market.

Laurel
111
Laurel  

Its only loss, loss and loss.

I totally failed to measure the effect of FOMC news report and therefore in total 500 pips loss in 2 eur/usd sell orders. EUR/USD reached to 1.4880 today, there is very high possibility of break of 1.5 which can be considered as a strong psychological resistance. But in previous, a big retarcement also occurred in such condition.

Now, I need to reduce the floating loss without closing these two trades (I will keep them open until 1.5 will be broken). So, my main target for next some days is to take anything you will get by short term trades. I made 40 pips with FOMC yesterday but later on, it was covered by 200 pips loss.

I am happy with my broker. There was no spike in spread (it was always 2 pips in FOMC time like usual) nor it delayed any execution. I think I am doing very bad trading this week. I am still alive only for my money management policy.

I got a suggestion today in another forum, to track my trades in my trading journal. I appreciate it but I think its not necessary since they are already well tracked here:

FBS System | Myfxbook

I want to track in my journal what I was thinking while opening trades, what was my analysis and why I was wrong. All others are already being tracked in my myfxbook account.

I don't dare if I am in profit or loss, but transparency matters!

Laurel
111
Laurel  

I started working according to my plan I mentioned in earlier post.

EUR/USD dropped a bit and thats why I bought it at 1,4824, I considered it as a retracement.

50 pips TP is set for this trade.

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