Forex Trade Journal

[positiontrade]

My first day trading forex. I figured I'd pick it up when the stock markets are closed.

Not enough pip movement?

 

[riskfreetrading]

Is this real or paper trading? If you are using live money, I suggest that you start with only $100. I have taught some to trade, and I will ask one of my students to send me the link to her equity curve. If she sends it to me, I will post the link. You will be able to have a look at her equity curve, leverage, etc.

In addition never trade more than 2 times your money at the beginning. Maximum should be 7 times, and only when you become a top trader.

 

[riskfreetrading]

Quote from positiontrade:

My first day trading forex. I figured I'd pick it up when the stock markets are closed.

Not enough pip movement?

8PM make trades involving JPY (some movement)
2PM European currencies (EUR/GBP/CHF) (more movement)
8Am New York session. Everything moves (highest movement)
2PM to 7PM: sleepy.

 

[positiontrade]

Used the same skills trading stocks applied to forex. AUDJPY broke through my trend lines, shorted for 150 profit.

 

[positiontrade]

charting downward trend shorting for profit.

 

[riskfreetrading]

I think that it is trying to reverse on daily chart. I took profits. I want to see a bounce back up, then short on weakness. Current resistance seems at 158.80. It may even go back up to 159.10.

 

[riskfreetrading]

As I made profit on the move down, and I think that it would go down, I will only short on bounces up after weakness is confirmed.

 

[riskfreetrading]

I am going to cover the position I sold at 158.60, at 158.40.

 

[positiontrade]

My eyes didn't catch the resistance till I looked at the 15 min charts. I'm also short the USDJPY at 107.90, very similar patterns for EURJPY too.

 

[riskfreetrading]

Covered. New resistance at 158.53. After that 158.65, and 158.80. I will wait for the bounce, weakness, then sell again.