MJ12s Trading Journal -
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thread: MJ12s Trading Journal

  1. #21
    another lousy transaction this morning. I took the pin onto the rest and it collapsed. There was a daily pin to back up this and the long-term trend looked as though it might reverse. After taking this I pinpointed an order on a GU 1 hour snare retrace which would currently be at BE.

  2. #22
    took the break of the pin on my conservative account along with the retrace on my agg account. I am experimenting with retraces since they match my way of trading however I haven't developed good enough principles for how to handle exits with them yet.

    I also set an order to trade the cable snare retrace but I canceled it upon taking a different transaction. All the trades I offset wind up being nice winners!


  3. #23
    Great day in all. Believing more seriously about just trading retraces as that is what I appear to be good at, but for now I will continue to take both when I wish to.



  4. #24
    that I have decided to just take retraces from now on as mentioned earlier in the blog. They suit my trading style and I have been doing much better together than direct breaks. I can take the occasional direct break on my account but I won't be posting these results on this blog for the time being. I'm also going to be experimenting again with shorter time frames with retraces in mind but I am not going to publish these results in this blog straight away.

    I made a huge mistake remaining in a trade before fomc this week and I have to admit that I forgot that fomc proved to be a huge announcement. The spread on the pair I was trading moved around 30 and remained there for a long time causing me to take a significant loss. Irony is that the commerce was in 1R profit and had been ready for the news would have made a exit then.

    Its errors like these (there are several ) that have kept me out of being in profit on this account. I'll be nowhere close to trading at a significant size until I can remove these dangerous and senseless mistakes.

    Retrace account now at -0.66%. Straight fracture account closed for now at -5%.


  5. #25
    Junior Member Oxcio's Avatar
    1
    Hi Majestic/Kcom

    Thought I'd drop by and check out your diary, keep going mate, I believe the openess and transparency onto your own trading is admirable, I am confident that you will iron out the creases as it had been, fantastic luck with these reduce TF's Hows the Poker, you playing?

    All the best

    Limey

  6. #26
    Hi thanks to the encouragement. Yes I still play with poker from time to time. Much more challenging matches now though and I'm definitely not as fresh as I was because I'm trading a lot.

    Congrats on tying the knot by the way! Hope you had a fantastic wedding/honeymoon.

  7. #27
    I am only looking at my past 7 transactions and wondering how I managed to make so little when I they were all winners or BE if I managed them better! There was the obvious new error but that was 1 percent in profit earlier in finished up 1.5percent down. I feel confident about deciding on the ideal leadership the majority of the time and I should work on my own leaves. If I'm choosing the right direction this frequently it may be best to take profit at 1R even about the retrace trades. It now a guideline for me either to take some profit or proceed to BE after 1R has been reached -that was always a guideline on the straight fracture but not always about the retraces.

  8. #28
    just wrote a very long post and deleted it by accident by closing the browser. Sums up my day as I had 4 winning trades but only produced 0.4R as a result of poor profit taking. I am doing really well with my entries of late however my leaves seem to be suffering. I think I might have a period of taking quick profits as my conclusion doesn't seem to be on chunk. I just know the next trade I will make a quick exit and it'll fly off without me but I would rather that than give back any additional profit. I would be in some great profit right now if I had taken out every trade at 1R.




  9. #29
    Well today I learned my lesson and took profit on my trades without being covetous. I am experimenting with trading on the 15 minutes upwards and I saw a setup so good today I decided to take it on my primary account. I won't be posting the time frame trades here (unless I take them on my primary account) until I am convinced together.

    I am feeling quite confident at the moment because of the consistent winners. I really have to see myself because it seems like most trades I'm quite near taking but do not become winners as well. Its harder to be picky if it seems like what is profitable but I understand that is still what is demanded. I'm also aware that because of my bad exits I might have made a lot more of a pillow for if I encounter the inevitable drawdown.

    Finally I must mention the gold commerce I took was a $2 risk rather than a $1 risk because that was the minimal amount of components I can trade in gold. As a result my account is approximately $2 higher than it would be.


  10. #30
    simply posting the remainder of my trades from a week. Generally I am happy with the way I am trading but I am still breaking rules and making mistakes. I take comfort from the fact that I am basically trading well and if I didn't make stupid mistakes I can almost say I was getting consistent... almost.

    Just got to really hammer home the good habits and eradie the bad ones!

    My losses comprised a whipsaw on EURCHF which a should have considered not investing as price retraced with exceptionally strong momentum. Abig pin on GBPUSD which was not in a fantastic loion and also a flipzone NZDUSD with not enough confluence.

    The 2 winners were equally 1R.






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