Trying to make it!

[Ivan93_catalan]

This journal is the beginning of my effort to be a consistently profitable trader. I look forward to posting more frequently and hope I can be of help to some of you and also hope that opening this thread and posting my transactions helps me be more disciplined.

Wallpaper
I have a mechanical engineering degree and worked my first 3 years from college for a product engineer. Not too long into that job I realized that wasn't exactly what I needed to do with my livelihood. Following months of debating I made in March 2009 to pursue a full time trading career. I've now been trading from home for over a year, with largely contradictory outcomes. Up to now I haven't been able to learn the subject aspect required to succeed. So that is what I am trying to do for this thread. Boost my subject and remove account dues transactions.

Strategy
I am a day trader and rarely leave positions open overnight. I mainly exchange the EU and UJ too as E-mini and Crude oil futures. I will chart the four of these tools each morning and produce a trading program. Along with technical analysis I use macroeconomic data to supplement my trade plans.

Technical Analysis
I start my technical analysis with daily charts. Then I proceed down to hourly charts. Eventually I proceed to 15 minute charts. I plot encourage, resistance, and trendlines. I don't typically use any indiors. Occasionally I fine-tune entries and exits 1 or 5 minute charts.

Fundamental Analysis
I use all news, macroeconomic data, earnings data, etc. to create an opinion of that direction I believe the market is headed. I try to not leap momentum and trade during important releases, instead, I use the data to assist form longer term viewpoints.

[Ivan93_catalan]

Stop to 78.81. Looking weak.

[Ivan93_catalan]

Here is what my setup looks like on my 2nd screen.
https://www.cliqforex.com/attachments/15286982382139100868.jpg

[Ivan93_catalan]

Each weekend I proceed through the charts of several currency pairs, stock market indicies, treasury markets, and energy futures and update my charts. I will document any notes that I take with this thread as well as any potential setups that ch my eye.

Each morning I immediately scan through the several charts, update themand take notes documenting potential setups. I'll also share my notes on this thread most mornings.

Each trade I create I plan on completely documenting here too. Winners, losers, breakeven.... Each set up I take. I do not advise anyone kindly follows my trades. To start with, my trades do not always cause a profit. Second of all, I do not think it is possible to be a successful trader blindly following others.

[Ivan93_catalan]

I'm taking a long position at 85.41 about the UJ. I intend on getting from the commerce prior to the US markets close tomorrow. Technically the pair is in the bottom trendline of a steep downwards leash and coming November low of 84.82 and because of a bounce shortly. Fundamentally I expect some momentum going in to Japanese rate decision Monday night. My stop is at 84.98.
https://www.cliqforex.com/attachments/15286982421427370589.jpg

[Ivan93_catalan]

There are no major events or releases scheduled for the US day session today. I expect it to be a fairly slow and uneventful day as investors will be awaiting the fed announcement tomorrow day.

Within my weekly analysis I have found a couple of potential setups for your week. Natural gas is almost to the bottom trendline of a triangle and contains support above 4.40 afterward at 4.29. I may look to go long at a certain stage if a setup occurs. Gold is hanging around the bottom trendline of an ascending wedge. If it falls below last weeks low of 1155.60 I may look to enter brief. Crude oil looks like it may be breaking out on the weekly chart. I'm long-term very bullish on oil and maintain a good portion of my IRA in a couple of energy stocks. And the final thing I'm watching closely is that the SP500 which is forming a potential straight shoulder onto a head and shoulders pattern on the weekly chart. This really is a long-term pattern however and will not affect my trading now.

The UJ commerce is working out thus far and continues to seem pretty great. I'm out before the end of the day since though the Japanese will probably leave rates unchanged tonight, the pair will most likely be quite volatile. Stop loss moved up to 85.53 to lock in 12 pips so far.

[Ivan93_catalan]

As the U.S. session finishes a rather boring session, I am closing my UJ trade at 85.85 for a 44 point gain. Trade statistics:

Device: USD/JPY
Style: Bottom of descending wedge dip momentum into news release.
Profit/Loss: 44 point
Max Drawdown: -11 point

I am also getting interested in Natural Gas. Took a big hit now, will appraise tomorrow.

[Ivan93_catalan]

Now will probably be like slow and dull into the Fed announcement. Futures and risk assets are mostly down at thre moment as worries about the economic recovery persist.

I am taking a look at a potential brief on the EUR/USD as it's dropped out of a rising wedge and seems weak. UJ is showing continuing strength from but when the market sells off it'll have difficulty staying up. Oil and the emini are down, but I do not expect much either way till the day.

[Ivan93_catalan]

I am long on futures of Natural Gas in 4.311. Tried to drop below yesterday's low and failed, and I'm anticipating a float up. Stop loss under todays reduced at 4.283.

[Ivan93_catalan]

This is kind of a risky trade here on NG, I am watching it tightly on the 1 minute chart. I will keep moving my stop up quickly. I am moving it to 4.315 right today.

[Ivan93_catalan]

Wow, that was fast. Stopped outside, 4.314.

Instrument: NG
Design: Countertrend. Stop below daily .
Profit/Loss: 3 points
Max Drawdown: -5 points

[Ivan93_catalan]

Alright, Short EU 1.3097. Stop loss positioned at 1.3105.

[Ivan93_catalan]

Half of EU short off at 1.3082. Stop to 1.3101.

[Ivan93_catalan]

Out the rest at 1.3080. Usually I trail the halt, but in this instance I'm only taking it off because it's not as weak as I'd like.

Device: EUR/USD
Style: Short on stage of downtrend.
Profit/Loss: 16 points
Max Drawdown: -2 points

[Ivan93_catalan]

Wow, oil really spiked. I enjoy trading oil, but occasionally I have no clue why it does what it will. Very dangerous if you don't know what you're doing, and I often don't know what I'm doing. Https://www.cliqforex.com/attachments/1528698230.png

Natural gas keeps moving up. I guess I should've relied on my stop loss and let it run a little. My main problem is that I second suspect transactions way too much. To be honest, I probably shouldn't have taken that commerce. There was really no installation, it was a 50/50 shot that it goes up or down.

[Ivan93_catalan]

Markets are pretty big this morning. Bank of England reduced its healing forecasts, Asia and Europe are pretty much all down.

UJ hit it is November 2009 low that it has been targeting for a while and has bounced off it.

Natural gas is hanging around the edge of a pond. Tried to break under 4.27 this morning but failed and has since regained.

I do not expect a broad based selloff today. Actually I believe we may observe the markets recover a little. My first trade today I'm long crude oil in 79.31. Stop at 78.99 for Now.

[Ivan93_catalan]

Well, I got suckered into a breakout and got kicked out of that commerce quickly. I still expect oil to rebound soon here around 79 to the open.

Device: CL
Style: Breakout of downwards wedge.
Profit/Loss: -33 points
Max Drawdown: -33 points

[Ivan93_catalan]

Oil is merely hanging around 79. I'm not planning to do anything until the start of the market or a little later though. Feeling weak. Waiting for signs of a bounce, but likely won't happen till near 10:00.

[Ivan93_catalan]

Extended CL 78.95. Expecting a rally .

[Ivan93_catalan]

Out even.... moved my stop to B/E. Oil might eliminate here, but might spike down. Will buy on spike down.

[Ivan93_catalan]

Extended CL 78.91. Searching for rebound into stock data at 10:30. Will be out ahead of time. If you trade crude oil, you know what happens every Wednesday at 10:30.

Cease below low at 78.7.

[Ivan93_catalan]

Out.

Device: CL
Style: Bounce after consolidation around lows.
Profit/Loss: -10 points
Max Drawdown: -10 points

[Ivan93_catalan]

Long CL one more time 78.55. Cease 78.3

[Ivan93_catalan]

Well this afternoon has sucked so far. Stopped again. Given back all of my gains from Monday and Tuesday.