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James trading journal

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This topic contains 97 replies, has 10 voices, and was last updated by  james NM 1 week, 1 day ago.

Viewing 20 posts - 41 through 60 (of 98 total)
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  • #100407

    james NM
    Participant
    • Topics: 1
    • Replies: 65

    thanks guys,i only trade daily weekly and monthly and you know you wait for several days or weeks for the market to reach your target and you see that when you come following day you left things on your favor and now direction changes thats when a small devil inside tells you better small profit than nothing then you close position and market continues…..sometimes i even laugh at myself

    #100411

    moaied suhail
    Participant
    • Topics: 1
    • Replies: 370

    I see what you min James, we encountered this situation too, but as you advance you will be more knowledge and more confident, there for by time this issue will go away by it self; its part of our learning process.

    wish you all the best.

    #100435

    james NM
    Participant
    • Topics: 1
    • Replies: 65

    Thanks mo i will work more on my confidence and patience

    #100439

    Boniface Akhuiwu
    Participant
    • Topics: 2
    • Replies: 113

    Please read up on how to catch a trend at the beginning on my journal again and again; then backcheck old charts and you will see what I mean. If we are able to catch trend at the beginning, even if market behaves otherwise we will be able to escape with a long rope with good profits. As I have said in my trade journal, I have been backtesting with seven platforms. This is to check the level of percentage success rate. I have observed that when we’re able to catch trend at the beginning retracement may not be much problem. The reason we close out of emotion arise from strong retracement. Nothing more. Check out all the positions am using and see how they’re really moving accordingly. The pair that’s slow to obey is GBPCAD, long. It’s gradually obeying now.

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    #100441

    Ben Aqiba
    Participant
    • Topics: 2
    • Replies: 1131

    Hey Boniface,

    your SL seems to wide in you example above.So you should have a big account
    in order to be able to set a smaller positions size and not to risk too much

    #100469

    Boniface Akhuiwu
    Participant
    • Topics: 2
    • Replies: 113

    Hey Boniface,

    your SL seems to wide in you example above.So you should have a big account
    in order to be able to set a smaller positions size and not to risk too much

    Yea, it’s wide; weekly candlestick SL. Not big account but smallest lot, 0.01- when SL is on weekly; when sl is on daily I sometimes increase lot size. They’re working.

    #100488

    james NM
    Participant
    • Topics: 1
    • Replies: 65

    Hi boniface i see what your saying and i have checked a couple of charts when weekly mb line is broken…but i have a q? do uou use R/S lines break out when taking position

    #100494

    Boniface Akhuiwu
    Participant
    • Topics: 2
    • Replies: 113

    Hi James,I use to do it. My new-found strategy has made me reduce other entry points. S/R sometimes ambush our positions. Almost all the pairs am backtesting are moving so well. Check NZDJPY, long; CADJPY, long; CHFJPY, long; GBPJPY, long; EURUSD, short; GBPCAD, long. Am currently in AUDCAD, short. AUDNZD long have been retracing every now and then, SL still not triggered. This strategy is like finding a new “lover”

    #100498

    Boniface Akhuiwu
    Participant
    • Topics: 2
    • Replies: 113

    I expected a strong retracement on EURUSD, short. Today movement is doing it. Am not closing it yet.

    #100509

    Charles Booth
    Participant
    • Topics: 1
    • Replies: 210

    Good to see you here James. Wish you the best of luck brother.

    #100521

    james NM
    Participant
    • Topics: 1
    • Replies: 65

    This strategy is like finding a new “lover”

    hahahaha nice one Boniface the heart feels good another quetion my friend what about bollinger bands lower and upper what if they are pointing down or up strongly and the price has broken the middle dand

    #100522

    james NM
    Participant
    • Topics: 1
    • Replies: 65

    Good to see you here James. Wish you the best of luck brother.

    thanks Charles doing my best and i wish you to the best

    #100524

    Boniface Akhuiwu
    Participant
    • Topics: 2
    • Replies: 113

    This strategy is like finding a new “lover”

    hahahaha nice one Boniface the heart feels good another quetion my friend what about bollinger bands lower and upper what if they are pointing down or up strongly and the price has broken the middle dand

    In my journal I said the strategy works best when market is ranging. Check all the positions I listed you see that it has been ranging/sideways. We can’t fight strong trend. If you find any chart or example share it and let me analyze it.

    #100555

    james NM
    Participant
    • Topics: 1
    • Replies: 65

    the strategy works best when market is ranging.

    Now i get you my friend on a ranging market so another questin what do you think about AUDNZD would you go short

    #100558

    Boniface Akhuiwu
    Participant
    • Topics: 2
    • Replies: 113

    I have been long on this pair. It’s faced with retracement. And now about to start moving sideways

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    #100561

    Boniface Akhuiwu
    Participant
    • Topics: 2
    • Replies: 113

    If you’re not in it already, there is no signal to either go short or long. I will advise you to stay away for now.

    #100562

    Boniface Akhuiwu
    Participant
    • Topics: 2
    • Replies: 113

    It’s because of middle band weekly. For sixth weeks now both bullish and bearish candles continue to line up along middle band, weekly.

    #100614

    james NM
    Participant
    • Topics: 1
    • Replies: 65

    thanks boniface i was short but will kip off

    #100616

    Boniface Akhuiwu
    Participant
    • Topics: 2
    • Replies: 113

    thanks boniface i was short but will kip off

    ok

    #100677

    james NM
    Participant
    • Topics: 1
    • Replies: 65

    Hi everyone
    I have being asking myself a question why do we follow a recipe when cooking a certain meal and we follow it to the end and when we come to trading we follow so many recipe trying to make some pips then losses appear can we trade using a well written recipe without deviating from it by using it word by word on what to do this has bothered me so much until i wrote down my trading strategy and i read it before i open my computer and it has helped me see things that i could not see while taking a setup. i hope my recipe will take me to next level.
    any views are welcome

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