My Forex Journal

Cswim63 said:
Are you making discretionary trades as far as entry? Cause I'm seeing similar trades without any particular methodology. Anyway I'm also interested in your decision making on how you pull the plug on a(failed) trade and beat your stop. I think your system works because it's hard for most to hold on to a winner till target--I can see it in posts here and elsewhere. The natural inclination is to ring it up right away. Also if you could do a short recap of trades still open and those recently closed it would be nice. FYI ,I am not trading at present as I'm involved in other stuff, like restoring a big truck. Still following the markets as I don't want to lose my feel.
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Yes I will do a sum up when I have a chance... in the mornings it is hectic cause I also trade the U.S. open (equities) but will find some time latter on
 
wizard4444 said:
Hi Cswim63, no my trades are totally mechanical 100%, there is a method to everything I do. Yes that is a weakness with most traders.... they feel they will lose the profit they have in hand, sometimes they will but what matters is the long run, most will get to there destination. Sometimes I will close a trade if it is 90% to profit if I see weakness... like at the moment USDCAD..... I am on it...
The losers I cut short I use a proprietary setup I created long time ago and it help a lot.
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I guess that's what I meant by USD/Cad trade having potential. It was the potential to have a big move, not that particular trade as I said. Even better now that it took out some early shorts at 1.38. Anyway I'm learning something by following. Not sure what at the moment but I know it's there.
 
wizard4444 said:
At the moment open trades are :

AUDCAD SHORT
CHFJPY SHORT
EURAUD SHORT
EURGBP LONG
NZDCAD SHORT
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Thanks. I'm wondering why no USD pairs. I assume that's just,the system, but Aussie seems stronger than USD, so short USD/Cad would seem more logical ATM. Anyway I realize I'm talking to a mechanical trader.
 
Cswim63 said:
Thanks. I'm wondering why no USD pairs. I assume that's just,the system, but Aussie seems stronger than USD, so short USD/Cad would seem more logical ATM. Anyway I realize I'm talking to a mechanical trader.
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OK saw the update get it now
 
wizard4444 said:
Yes I will do a sum up when I have a chance... in the mornings it is hectic cause I also trade the U.S. open (equities) but will find some time latter on
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do you use the same process for equities? Yes lots going on there between the two.
 
Cswim63 said:
do you use the same process for equities? Yes lots going on there between the two.
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No totally different. Equities I daytrade, max 1 hour, most of the times I am out.
I trade the day movers in the direction they decide to take. Very simple.
 
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