Peter's Journal

[exponent83]

Dear All,

I started my journal. My english is not the best, because I'm Hungarian originally.
Many of you said, that this is the best way to practicing and learning.

I hope the best!
Cheers,
Peter

[exponent83]

Please find attached my first trade in my journal. It was yesterday, with -1% result.


Checking next.

[immy]

Please find attached my first trade in my journal. It was yesterday, with -1% result.


Checking next.

Congratulations on posting your trade and starting your journal.

The Setup was not too bad. H1 was showing signs that it could break to the upside. Though H1 level to the left was too close which was something we could look at but the setup was correct. Sleeping gator, blue dot, eWave close to ZL and all. One thing I'd like to mention is that, "cut your Rents". The setup gave you two exit signals before it hit your stop loss, a black dot and price breaking below lower aims level. So instead of -15 you could have taken a -10 loss.

NEXT NEXT NEXT (its setup like these that breakout into nice big winners)

[exponent83]

Thank you Immy your nice comment. Next time I will cut my loss better.

Best Regards,
Peter

[exponent83]

I didn't trade in past few days. But on 2nd October I had a small rent. There wasn't Bernanke's speak, so no volatility.



Next will be better. I couldn't cut my rent, because of 10 pips SL limit.

[wiseambitions]

I think you were trading near the NY closing time, and I have found the market doesn't so often function in the way the indicators would point.
Well done for controlling your losses though!

[francisrama]

HI Peter,

good start!!! As suggested by Ray, always confirmed by Immy, would kindly advise to trade ONLY during LO open

KR

[exponent83]

Thanks for your comments, Mates I will do my Best!

[exponent83]

Hi All,

today was a small win position I know that it was an early close, but I am happy with this 0.66% result.



Checking next one!

[immy]

Hi All,

today was a small win position I know that it was an early close, but I am happy with this 0.66% result.



Checking next one!

Hi Peter

Well done on this little win BUT i have to say, and it might sound a bit harsh, although small wins like this matter and helps boost your confidence, they lead to a very bad habit... "Cutting your winners short". You've got to follow a Set exit plan, either based on targets, trailing stop based on moving averages or boxes or a combination of it. You gotta choose a simple exit strategy and then stick to it. Only then you'll have a statistical edge. All the best, and keep reminding yourself, to be consistently successful "consistency" is Must. Consistency means following a strategy that works and follow it 100% of the time! well done and keep it up!