Saki's Forex Reversal Journal

"Buy 1 unit GBP/JPY 211.93 Stop 204.10 open target
Second unit bought at 209.10"

Interesting buy op setting up this afternoon with the use of median lines.. if GBP/JPY stays afloat above 211.70ish will buy a 3rd unit for 215+++
 

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A bit of sober reading about the mental makeup of a "passionate" trader. I'm afraid I have fallen into this trap more than a few times in the past.

http://traderfeed.blogspot.com/2007/11/seven-questionable-things-i-hear-from.html

2) I have a passion for trading – Passion is what traders talk about when they can’t show results. Please, save the passion speeches. Just show a phenomenal work ethic and the commitment will shine through. But if you don’t have concrete goals, concrete ways of working on goals, and specific routines to research markets and prepare for the day, you don’t have a passion for trading. You have a passion for making speeches about being passionate. Whatever.
 
So, some weekly and monthly goals

Post at the end of each day a summary of trades made along with screenshots of any interesting patterns I encountered.

Post stop losses with each trade.

Work towards trading larger size with profits. But not to be done any faster than on a monthly closing basis.

Find another way to occupy myself while trading besides refining my trading methods. I have proven to myself that my methods are effective and when stops are employed, they provide me with a profitable edge.

That's where I want to start.

Finally a personal goal indirectly related to trading:

Try to find fufillment outside of trading at least 4 times a week either in the form of socializing or personal meditation work.

om:)
 
Missed the pullback and blast off yesterday as GBPJPY was too bullish to get an entry.

Today during the US session, if price stays around 212.60- 212.90 and doesn't breakdown, would like to add another unit.

If things blast off again during US session, will probably take half off as prices are getting just as overdone as they were on the downside. This is definetly a bear bounce as its savagely hunting down any shorts out there. 700 pips in a week? It's only Thursday!
 
GBPJPY dove a bit late for the longer term swing buy using my original criteria so I stuck with a short term scalp play.

Bought in 3 times first unit had a 31 pip drawdown, averaged in twice more and took about 22,23, and 4 pips. Stops were about 212.33.

Happy with the way I played this one.

Will hold off on exiting the swing trade for now.
 

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found a way to post to my meantrades blog via e-mail so no need to post on forums anymore... again ;)

the web gets better and better everyday.

In a quick update on some personal goals. I would have to say perhaps the most important goal was the take a break from trading when I am not trading. And in essence, my very mention of some goals has lead to a positive result. Life is becoming more normals since I made the resolution to take the needle out of my arm when the market was closed. I'm enjoying life quite a bit and not letting negative outcomes in trading or personal matters take over my life. I wish all those of you stuck in a spiral of negativity and obession/addiction some peace of mind and freedom...imo, this is incredibly relevant to trading. Once you master yourself, you become a more intuitive person and by default a smarter trader. You know who you are and what you can do once you allow yourself the freedom to act on your knowledge.


Happy Trading
 
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