Robb's Journal

[robb]

Hello All,
I’ve decided to Journal all my trades for better or worse and post them here for all to see. (that way you can get a good laugh or green with envy. )
I first heard of Currency trading about 4-6 years ago, but only learned of the term Forex during Thanksgiving Weekend of 08. I picked up a very skimpy eBook and was hooked. Read everything I can get my hands on during December and the first part of January. As I am between work, that became the focus every day. I signed up for a live account and a practice account at the same time about the first of February. After making 30% gains in the first week on the practice account, I switched to the live account and lost 50% in two weeks. Confused with the emotions of losing and gaining, I moved to the MT4 platform and have been on a practice account since.
I have tried to see what type of trader I am and came up with that I am very ADD.
As I post the trades I enter, I will list the reasons why and how I came to those conclusions.

[robb]

My practice account has been down for 14 hrs now, so I am switching to the live account for info. As of last evening, I am up about 50% (practice) in the last 4 days, but before the site went down, I was down by 500 pips between a couple of open trades.
I had been using 3 different EA to augment my manual positions. I forgot to reset the positions size for my account balance and as a result, the EA over traded my account and could bust it. (Happened 2 weeks ago.) Learned my lesson on Position Sized and Risk Allotment. (I think, as I am a slow learner and this could happen again.)
We will see what happens when the account come back online.

[robb]

(Back drop info)
I was self employed for the last few year as a contractor and had become a firm believer of self improvement about 5 years ago.
In fall of 2006, my wife was given a book called Secrets of the Millionaire Mind. About the same time, we saw the movie, The Secret. Between the two, it was an eye opening experience for both of us.
In a nutshell, we came to believe that anything we want to do, we can. Whatever limitations that we believe are out there, are there because we put them there. Where we are today, is the result of what we did yesterday. Change today, and tomorrow bring different results.
We wanted a business that has no employees, no product or service, no customers. We found it in trading. Securities, Options, Futures, and now Forex. Out of everything we looked at and studied, Forex has the most leverage and the quickest returns. Never traded anything before Feburary of ’09, but intend to be in the top 1% before we even started.
Our Goal we (my wife and I) made December of ‘06 was to have a million in net worth by Jan of ’10.
This Journal is to record it as Life and Learning are not separate things and we can learn much by looking at our life experiences.
How we do one thing is how we do everything.

[robb]

3-10-09 @12pm PST
USD/JPY
SPAR/Heiken Ashi 4h.—Trend changed from down to up. Still on the first Dot. Stoch is showing crossed lines in opposite directions. Mixed Signals; check back this evening.
Day—Trend is down and almost touching the dot on the way up. (99.37)
EMA/Bol Bands 4h.—3 crossed the 5 and bounced off of the 13. Still going up.
Day—3 bounced off of the 5 and still going up but close together. Has good separation from the 13.
Conclusion There seems to be resistance in the 98.90 to 99.70 area from early March and last November. Wait until trend breaks 99.70 – 99.90 and buy long.

[robb]

USD/CHF
SPAR/Heiken Ashi 4h.—Trend changed from down to up. Still on the first Dot. Stoch is showing up trend with good separation. Buy Long Signal.
Day—Trend is down and not above previous candle’s wick. (50pip more)
EMA/Bol Bands 4h.—3 crossed the 5 but haven’t crossed 13 on previous candle. Current candle is 142 pips long.
Day—3 hasn’t crossed the 5 yet and below the 13.
Conclusion Trend hasn’t formed yet. Maybe if the 4h Charts support each other and confirmed with the Day Charts, a long position will open up soon.

[robb]

GBP/USD
SPAR/Heiken Ashi 4h.—Trend changed from up to down. Still on the first Dot. Stoch is showing crossed lines in opposite directions. Mixed Signals; check back this evening.
Day—Trend is down by 2 dots.
EMA/Bol Bands 4h.—3 bounced off the 5 on previous candle with good separation from the 13. Current candle is 159 pips long.
Day—Good Seperation from the 3,5 and 13.
Conclusion Trend is still going down. Wait for retracement to 1.3780 (current is 1.3744) and short.

[robb]

EUR/GBP
SPAR/Heiken Ashi 4h.—Trend going up since 3-05. Had some retracement but going strong now.
Day—Trend is up.
EMA/Bol Bands 4h.—3 Good Seperation from the 3,5 and 13.
Day—Good Seperation from the 3,5 and 13.
Conclusion Trend has been up to 4 days but last 4h candle was spinning top. Wait until current candle is done and reassess.

[robb]

EUR/USD
SPAR/Heiken Ashi 4h.—Trend going down by 2 dots. Previus up trend lasted only 3 dots. Flopping directions every day, but slowing going up over last couple of days.
Day—Trend is up but seem kinda flat.
EMA/Bol Bands 4h.—3 crossed the 5 going down but still above the 13.
Day—3,5 and 13 running flat.
Conclusion Non Trending at the moment. Was showing down trend but went flat 3 days ago.

[robb]

Position Status: GBP/UDS Pending Order for Sell Limit @ 1.3780 No SL or TP

7pm Update. Pending order triggered. Put a 30 pip TP. (Live Account.) Took Profit.

[huttre]

Originally Posted by robb

Hello All,
I’ve decided to Journal all my trades for better or worse and post them here for all to see. (that way you can get a good laugh or green with envy. )

from what I can tell so far, everyone on this forum has a really nice attitude, wanting everyone to do well. On other forums I always see arguments and bickering, which is why I haven't really contributed on other forums.

I'll be watching this thread with interest. good luck!