My Trading Journal- Learn to reach out my first $1000 withdrawal

Discussion in 'Trading Journals' started by ijak8510, Feb 4, 2016.

  1. ijak8510

    ijak8510 Trader

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    dear Earnforex forum member

    as a trader , i already trade currencies for 1-2years and i think i still stuck in this level.
    a deposit only trader level.

    off course sometimes i requested withdrawal of my profit, but if i do some calculations , my deposited / and lost money, still bigger than my withdrawal.

    inspired by my friend who turn $1000 into $12000 in one year with Alpari (\may their soul rest in peace) and he told me if you wanna survive in this business, write your own journal, analyze your foult,risk amount that you can afford to lose.

    so here i am. opened a journal to analyze my trade.

    because i familiar with MT4 and can't risk too much money, i decided to trade with Tickmill which is suitable for me.

    about my trading system.

    in short i use combination of EMA 12,50,100, 260 ,500 and some price actions

    will upadate myfxbook tomorrow, and i hope i can succesfully compouding and achieve my 1st $1000
     
  2. ijak8510

    ijak8510 Trader

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    Let us made some market review for a moment before opened a trade. W
    What happened in this week which is the majority of USD rivals stronger than the USD , which means that the long-term weakening of the USD in sight

    This is due to weaker US economic data than anticipated.
    PMI is below expectations,
    ADP which is above forecast, Forecast 195k, actual 205K
    The unemployment rate rose 8k

    the NFP today, market expectations about jobs created and opened : 189k ,
    and if the data released under 180k can harm USD fundamentally.

    With the reluctance of the Fed to raise interest rates, the ECB QE plan in March 2016, and the BOJ is set negative interest rates, today's NFP data is crucial as a guide to where the next market direction next.

    Technical analysis : , based on Tickmill weekly chart, the USDJPY this week , weakened as much as 500.0 pips.

    Head and Shoudler has been formed, and if the NFP data this week could make close USDJPY weekly chart with a bearish engulfing pattern, then the USDJPY weakness for the medium-long term was inevitable with the first target at 113.00 area

    [​IMG]
    if this picture does not load, use this link : https://charts.mql5.com/10/112/usdjpy-w1-tickmill-ltd.png

    Recommendation :

    USDJPY Bearish,
    risk in the area of 121.75 -122.00
    Target: 113.00, 110.00, and 109.00
     
  3. ijak8510

    ijak8510 Trader

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    Lets Rock And Roll

    Sell EU , Reason : Double Top Formation, Seller candlestick pattern and price opened under EMA 12
    Got 0.2 spread, great
    Entry at 1.12014
    SL at 1.12164
    [​IMG]

    Sell GBPUSD Averaging minus mode
    Sell 1 at 1.44090
    Sell limit at 1.44490
    Reason : Support become resistance and Buyer at H1 buyers are not able to maintain their strength, and candle close under EMA 12
    [​IMG]

    Sell EURAUD
    Reason
    1. because i have 1 sell eurusd position
    2.At M15 price already Break and open new candle under EMA 12, need H1 confirmations
    Sell @ 1.59076
    SL @ 1.59326
    Update Hit SL
    [​IMG]
     
  4. ijak8510

    ijak8510 Trader

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    Update :
    open 2 trades EURAUD
    Open trade 1 : 0.02 lot @ 1.58761 SL @ 1.59161
    Open trade 2 : 0.02 lot @ 1.58861 SL @ 1.59561
    TP @ 1.57260
    Got good spreads with this crosses , around 2.0 pips
    nice



    Reason : Engulfing on EMA 12

    [​IMG]
     
  5. ijak8510

    ijak8510 Trader

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    Today, Because china celebrating Chineese new year ( happy Lunar new year anyway, i hope you are more prosperous in this fire monkey year)which caused market move in sideways

    we need to pay attentionm there is some news that should be on the alert

    [​IMG]

    [​IMG]
    Buy GU @ 1.44900,reasons, entered an order because long candle in M15 full with buyer

    Sell Gold @ 1187.90 SL TP @ @ 1191.9 1177.9

    Reason : Gold break EMA 12

    I have trading for years and only with Tickmill i can have 10 pips spread for gold.usually another brokers charged 30-70 pips spreads for gold

    http://www.myfxbook.com/portfolio/mission-1000/1513053
     
  6. ijak8510

    ijak8510 Trader

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    is it me or myfxbook always have errors when i wanna upload my trading history.
    Whatever, moved to FXBlue.
    http://www.fxblue.com/users/ijak

    Got margin called and deposited another $25

    Today Open trade

    Sell GBPUSD
    Sell GBPCHF
    Got signals from M5

    [​IMG]
    Reason for Sell GU , Fake confirmations candle on M5, and turn the candle into Continuation signals, RSI break neckline

    Reason For sell GBPCHF
    Got RSI break signal with m5 , plus confirmations candle pattern

    Got around 3-4 pips spread for GBPCHF , and around 1 pips spreads on GBPUSD


    Took a peak on news, and whew, china still on New year holiday,

    But today , Yellen would have a testimony again , i hope yellen could give us clues about The Feb Policy

    [​IMG]

    Read on some news sections

     
  7. ijak8510

    ijak8510 Trader

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    Updated my Journal, it is hard to reach master trader level
    but i must learn and enjoy this process

    still have floating order, Sell EURUSD


    Closed Buy GBPUSD

    and i got good setup for sell at NZDUSD

    If NU Closed and stay like this at 12 febuary 2015, 20.00 GMT +7
    i will consider to sell NZDUSD

     
  8. ijak8510

    ijak8510 Trader

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    i starts my day with opened trades for several pairs




    Sell USDCHF @ 0.98823 SL @ 0.99073 TP @0.98190
    Sell Stop USDCHF @ 0.98573 SL @ 0.98823 TP @ 0.98190
    Sell AUDCAD @ 0.98449 SL @ 0.98849 TP @ 0.97449
    Sell stop AUDCAD @ 0.98049 SL @ 0.98449 TP @ 0.97449
    Sell EURAUD @ 1.57448 SL @ 1.57848 TP @ 1.54314
    Sell stop EURAUD @ 1.56813 SL @ 1.57448 TP @ 1.54314

    Reason :
    not bad. got good spreads when i entered this 3 trades
     
  9. ijak8510

    ijak8510 Trader

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    My fokus today is CADJPY, to find out the best price to buy CADJPY



    [​IMG]

    My reason why i decide to buy CADJPY
    1. W pattern
    2.RSI Divergence

    And if we compare USDCAD and CADJPY , why i buy CADJPY because few days ago, USDCAD had strong bearish trend ,
    [​IMG]

    and tonight we have crude oil inventories news and as far as i know , OIL and CAD have strong correlation
     
  10. ijak8510

    ijak8510 Trader

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    Yesterday i made +$55 profit and request for Withdrawal

    ,
     
  11. traderpool

    traderpool Trader

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    looking for your journal, are this journal still updating?because i see large drawdown here
     
  12. ijak8510

    ijak8510 Trader

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    Got Drawdown in my ECN Pro Account
    but no problem. OverAll i am still in profit T_T

    [​IMG]

    Sell EURJPY
    Reason : Price / buyer, are not too dominant and can't maintain their power above EMA 12

    SL Scalping
    TP longterm
     
  13. ijak8510

    ijak8510 Trader

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    Still hold my Sell EURJPY, move EURJPY stoploss into trailing stop mode
    Sell EURGBP , because at M5 , candle broke out the EMA 12,and met major resistance. put 10.0 pips stoploss,

    got good spreads on EURGBP, 0.6-0.7 pips for EURGBP , not bad for cross pair

    [​IMG]
    today we have EURO Zone news, perhaps this news could help my trade
     

    Attached Files:

  14. ijak8510

    ijak8510 Trader

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    Finally i got Margin Call
    Well redeposit my account and looking for signals with another trading instrument provided by my Broker,and i decided to trade the indices
    After tried their demo to find out how much margin used for any indices
    i decided to trade the US500 index (SPX500 index)

    Reason :
    1.M pattern
    2.Engulfing
    3.Their spreads looks lower than another index (40 pips, i think its like 4 pips in forex)

    Sell 1 @ 1917.20
    sell 2 @1906.20
    Trailing Stop loss @ 1911.20
    My worst scenario : i think am only reach BEP

    [​IMG]
     
  15. ijak8510

    ijak8510 Trader

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    I hope NZDUSD can break the upper triangle formed in daily timeframe.

    opened NZDUSD trades, got tight spreads, with tight pair movement
    -_-
     
  16. ijak8510

    ijak8510 Trader

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    today I have a lot of work to do and only now I have time to update my journal
    And today , we only have one important USD news

    today i do some multiple entries



    Buy HK50 (Hanseng )
    Reasojn : engulfing on m15

    [​IMG]
    Indices trading have different sensation, although the spreads are small, but we can quickly experience a plus or minus in one single moves
    Closed profit +40$

    and after that i bought GBPUSD and sold EURGBP
    [​IMG]
    Got tight spread , and closed by my trailing stop

    And i now i try another trading instruments provide by Tickmill, which is JPY225 (Nikkei)and EURJPY
    Reason : engulfing on MA
    [​IMG]
     
  17. ijak8510

    ijak8510 Trader

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    Sell EURGBP
    god, I hate this Inverted Cup and handle Pattern.



    Example of Cup and handle Pattern in WTI/CL

     
  18. ijak8510

    ijak8510 Trader

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    Try To buy NZDCHF

    Finaly i am back trading forex, because indices trading is very painful.
    For smallest lot in my broker, smallest used margin is in JP225 , it is around $14-$15. not to mention, index have very wild movement.
    need bigger balance sigh
    and looks like they applied 1:100 leverage in all indices instrument
    [​IMG]
    Reason, hammer on MA with counter sell if it become invalid
     
  19. ijak8510

    ijak8510 Trader

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    Sell GBPCHF
    very sexy
    reason : RSI on 60 area, RSI Abnormal, and still in channel area

    [​IMG]
    i hope it is valid
    moga2 valid
    got good spreads , 2.0 pips for GBPCHF
     
  20. ijak8510

    ijak8510 Trader

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    Finally got margin called
    and based on FXBlue statement
    My total deposit/WD in Tickmill via skrill or fasapay are :
    Deposit : $178.37
    WD : $221.34
    WD - Deposit = $42,97

    so with my total net WD , i can say, i am still losing my money.
    But no problem.
    I cosider this as my learning experience .
    and i learned in hard way, in the next trades, i better do not touch indices , because if i trade with minimum amount i better trade WTI because even WTI used margin is relatively big because it is using 1:100 leverage, but WTI smallest lot is cent pips . so it is better for money management

    This journal will be my documentary repot so i can study my mistakes and become a better trader in near futures

    and like arnold said in terminator.

    " I'll be back"

    The End of Part 1
     

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