thread: Training Journal

01/08/2017
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Eurjpy
Eur have swung up from the jpy. Quicker than I thought. But the resistance at 130.5 is demoning quite uncooperative! Price just keep bouncing it off!
In any case poorly let nature run its course because im in profit.

Eurchf looks like a good cousin pair to diversify into. Chf have been quite weak since about late april this season. Coupled with their negative interest rate, making it a really notable currency to short.
I'm betting the bearish momentum will continue this manner at least for another 3-6 months.

Update
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Opened a long position at 1.13930. As this looks like a breakout, I place my SL at 1.12450, directly beneath the 1.125 mark.
Will most likely add to my position at 1.15 mark.

28/07/2017
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Brent prices are yelling buy buy buy! Look at how the 51 mark violate!
I haven't managed to keep up with the news because of work. Ill just keep this in mind that if fundies appear great, I would have gone here with SL at 49.85

Eurjpy
Just discovering that prices haven't been struggling to hold over 130.5. Fundies aside, I guarantee that a bearish collapse or bullish break at this level signifies the direction which the markets want to proceed. Learning from my previous error, I WILL close out my position when there's a bearish collapse.

Update:
After screening through news articles I kinda figured that the stall in price is due to the better than anticipated jpy information, boj tone, and the retrieval of usd. Causing investors to flock back to these safe havens currencies.
The impliion in my trade in the short term is a devaluation in eur. Nevertheless, longer term operation won't be significantly affectes by this. Particularly so when ecb are intending their tapering. Which could take the euro up when implemented

25/07/2017
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Eurjpy
Eurjpy needed a pullback before proceeding with the bull run. Sitting 70ish pips in the green. Price is proving my conviction right so ill stick to my own position.

Brent
I'm not clear about the oil fundamentals now. Last I checked it was beginning to look bullish as saudi stated they're dedied to deeper cuts. If price breaks 50 that could be an indiion to go long.

22/07/2017
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Eurjpy
Ended the week with 17.5pips of paper loss. All is still excellent. I realised that the yen gained from a few currencies. Is it because of the dollar weakness? I dont even know for certain.

US 30Y Bond
Prices seems to be recovering from that aweful drawdown that I incurred. Its the current political and economical climate in US thats causing investors to flock to safer assets like govt bonds and gold.

I'm really keeping my eyes straight back on crude oil. Prices have dropped. Could the bears be carrying back power? Fundamentally, OPEC compliance is dropping, US rig count is up. I just dont see why prices must grow.

21/07/2017
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Eurjpy
Boj pushed back timeline to hit inflation goals and hawkish remarks from Draghi delivered eurjpy to an upside breakout and then struck my limit order.
Price is now around the 130.1. That puts me in the green.
The following level I'm watching is the 131 level. A break/reversal at this degree will help me determine my next course of action

18/07/2017
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Eurjpy
I am carrying a wager here that ecb will announce hawkish news on thurs while boj will take action to stop the yen from becoming too strong.
Europes inflation has been rising for a while and while I do not expect announcement of tapering, I anticipate ecb to drop hints. Which might induce the euro upwards.
Boj has always wanted a weak yen. I kinda expect them to prevent any bullish announcement/hints.

In a technical standpoint, eurjpy has climbed over 12 percent from a year ago. 50,100,200 sma are sloping sharply upwards. Indiing a uptrend.
Additionally, jpy has been dropping against most other currencies since the beginning of the year. Indiing bearish momentum.

Prices have been ranging in recent days. I have identified 129.7 as the top ceiling. A breakout over that will comfirm my bullish opinion for the pair. I have set Limit Order at 129.75. My SL is set way below the recent swing low. Giving leeway for price to move against me. This moment, I am using a hard SL at 127.9. My total risk will be 1.6 percent of my capital.
I will add to my position at 131. As it represents a rest of the daily swing high.

17/07/2017
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Brent
After an emotional 2-3 weeks, I finally closed out slightly above 49. Taking a big hit. That reduction wasn't for nothing. My mind is cleared of emotions now and looking back, I made the very mistakes that I tried to avoid.
Primarily and greatest of my favorites: I became too invested in my own position. I REFUSED to think everything the market is telling me. Reading back in my previous posts, it's now SO OBVIOUS I had been incorrect.

Secondly, I added on to a losing position. While averaging in may be profitable when used correctly. The main reason I added position was that the HOPE that prices will move back in my planned direction and I can break even in the very least. THIS IS UTTER STUPIDITY.

Lastly, as the saying goes Cut your losers short and let your winners run.
What did I do? I LET MY LOSER RUN
I had a optional SL in 48. The first logic for optional SL was that prices occasionally may hit hard SLs because of volatility. But in this case. It worked against me.
Why did it work against me? Because I REFUSED TO CUT MY LOSER SHORT

The above Are Extremely amatuer mistakes caused by EMOTIONS. I wasn't planning to allow such basic mistakes affect my trading. But they did.

That I will need to go back and reflect deeply on how blinded I had been and how I can prevent this from ever happening again. This reduction is a tuition fee for a lesson I will never forget.

14/07/2017
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Brent
The swing in prices is VERY taxing in my mental willpower. Large price swings up and down on a constant basis. Currently im in a rather significant drawdown thats making me consider exiting the transaction in a loss. But fundamentally and technically, what I see are bearish signs.

Is that a situation of a trader too afraid to cut his losing trades short? Or is it a trader who is able to grind through big drawdowns? Honestly, as of now I'm unsure. Now I know why so many people lose money. There comes a stage where the distinction between courage and decision making is fuzzy.
I'm in that situation right now.

You are doing a great job keeping and writing these things every day. Keep it up

Thanks guy. Although this tread is much more for personal keeps. I do appreciate inputa from other members since im never done learning

You're doing a fantastic job keeping and writing these things each day.
Keep it up