Darren's Journal

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Darren
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Joined: 20 Nov 2012, 13:54
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Darren's Journal

Unread post by Darren »

I thought I would take the plunge and start a journal as well. It may instill some more discipline in my trades!

Some brief background. I am a full time trader although at the moment I have to do the school run which happens to conincide with the London open and the early/mid New York session! Hopefully this will change soon. I guess I should call myself a semi-full time trader!

I have been (semi) full time for over 4 years now although most of my trading during that time has been via Expert Advisors so I am now re-learning how to trade manually. I have done very well using EA's but their effectiveness has diminished in the last year or so, hence the reason for manual trading.

I am trading the EURUSD and EURJPY on the 1 min and 5 min charts, possibly with the addition of the DAX. I am also looking at a few other pairs on 5 min and above but most of my attention is on the EU and EJ. I have been taking 50% off at 1:1 and am trying to let the rest run as much as possible.

Recently I have been having a few winning days but mostly losing days, which is something I would obviously like to turn around. I seem to get caught up in the chop of the 4th wave too often, maybe because the hours I trade aren't the best, but more likely because I am a little eager to enter. We shall see.

I will try to post my charts and trades starting from tomorrow. Constructive criticism is most welcome as I need to become more profitable! :)

Cheers,

Darren
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Darren
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Re: Darren's Journal

Unread post by Darren »

Ok, my first trade in my journal and it was a profitable one. Let's hope the profits continue!
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Darren
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Re: Darren's Journal

Unread post by Darren »

fxsam wrote:Welcome to the Journal world Darren. It's good that you started. One advise i can give you from my experience is that do not hesitate to put rent trades on your journal. You will get helpful comments about it and when you revisit your journal that will always remind you not to repeat those mistakes. In short, Be true to your self in your own journal.

Regards,
Sam
Thanks Sam.

Yes I am very happy to put the rents on the charts as well, as it is some of the rents that I want to learn from and go and have a chat in the mirror about! :)

Yesterday I only had the one trade as nothing setup for my in the afternoon, so a nice little 1% day. Long may it continue!

Cheers.
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Darren
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Re: Darren's Journal

Unread post by Darren »

Just one trade with a small loss today. Nothing seemed to set up when I was sitting at the desk!
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Darren
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Re: Darren's Journal

Unread post by Darren »

No trades last Friday or Monday, but a few today.

I am trying to trade the 1 hr chart with entries on the 5 min, with some good success today. EU I had 2 trades with 2 full rents that hurt a little but the other pairs I traded made up for that and made 0.86% profit for the day. I missed the lovely EJ setup which would have resulted in a much better day - but there you go. :)
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immy
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Re: Darren's Journal

Unread post by immy »

Hi Darren

Good start to the H1 M5 world. Don't forget, you can still take H1 Setups on H1 if they have a very tight aims box 20-25 pips. moreover, the manager, will activate its sell half script each time you a. change time frame b. switch ea on or off c. switch mt4 on and off. (if the tp for sell half has been met it will sell half each time you do that)
So, what I do some tims is put two orders each .5% and I use VE AIMS to put a tP of 1:1 for one position and 1:10 for the other. :)
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

Yo, banana boy! 🍌
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immy
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Re: Darren's Journal

Unread post by immy »

Darren wrote:No trades last Friday or Monday, but a few today.

I am trying to trade the 1 hr chart with entries on the 5 min, with some good success today. EU I had 2 trades with 2 full rents that hurt a little but the other pairs I traded made up for that and made 0.86% profit for the day. I missed the lovely EJ setup which would have resulted in a much better day - but there you go. :)
I'd like to talk about the GU trade in specific. The purpose of the sell half is so that you allow the trade to run. These were technical mistakes, otherwise GU would have really put you into a very very nice place. actually you were in a risk free place where you could have just let it run and it would have brought you over 2-5% .. never mind tomorrow is another day.
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What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

Yo, banana boy! 🍌
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Darren
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Joined: 20 Nov 2012, 13:54
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Re: Darren's Journal

Unread post by Darren »

Thanks for the feedback Immy.

Yeah - I didn't mean for the trade to close but there must be a bug with the trade manager that I was using. I have removed it now.

If it wasn't closed then I know that I should have held the second half until a new peak of a wave and then trailed, but to be honest if I had seen the market moving sideways I may have trailed aims and been closed out for a small profit overall. However, in hindsight this would be a little pointless as I would have made a fraction more of a percent than I would have if I left the stop at entry and missed the big move!

I wasn't at my desk as I was on the school run but if I was stopped out I may have then re-entered at the break of the m15 Aims for a nice win!
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Darren
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Re: Darren's Journal

Unread post by Darren »

Two trades yesterday that resulted in about 0.5% profit for the day. Once again I missed a lot so I should have done better than that, but there you go!
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Darren
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Re: Darren's Journal

Unread post by Darren »

No trades today - I just couldn't find an entry on the 5m and above partly due to the big movements during the Asian session and the strong movements first thing today. The week ended profitably which is nice and I must say trading 5m and above seems to suit me better than 1m, although I will still trade the 1 min in the right kind of market.

Roll on next week. :)
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