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

ijak8510

Trader
Sep 29, 2015
83
6
19
35
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
 

ijak8510

Trader
Sep 29, 2015
83
6
19
35
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

usdjpy-w1-tickmill-ltd.png

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
 

ijak8510

Trader
Sep 29, 2015
83
6
19
35
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
gbpusd-h4-tickmill-ltd.png

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
gbpusd-h1-tickmill-ltd.png

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
euraud-m15-tickmill-ltd.png
 

ijak8510

Trader
Sep 29, 2015
83
6
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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

euraud-m15-tickmill-ltd.png
 

ijak8510

Trader
Sep 29, 2015
83
6
19
35
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

12705607_576475212510525_2044793440431129555_n.jpg


gbpusd-m15-tickmill-ltd.png

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
 

ijak8510

Trader
Sep 29, 2015
83
6
19
35
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

gbpchf-m5-tickmill-ltd.png

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

12734189_576930999131613_376846630939316477_n.jpg


Read on some news sections

Lee Hardman, currency analyst at MUFG, expects Brexit risk premium will increase as we move toward a referendum to strengthen the pound weakness and increased volatility.

Excerpt important [/ B]

"Risk Brexit will increasingly dictate the performance of pounds while driving other underlying such expectations BoE policy will only be the event extra. Time referendum is right yet to be decided but it seems likely to be faster after the draft proposal released this week for" a new resolution for the United Kingdom in the European Union " . Draft and they will be discussed in more detail at a special meeting of the European Council on 18 and February 19.

Increased uncertainty regarding the upcoming referendum on the European Union and the downside risks to global growth prospects resulted in view of the more cautious BoE's monetary policy. "



From: FXstreet
 

ijak8510

Trader
Sep 29, 2015
83
6
19
35
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
eurusd-h1-tickmill-ltd.png

Reason, look at the rectangle. my reason is , Engulfing on MA, plus candle break out EMA 12 at H4, and entered the market and got 0.2 spreads . very nice



Closed Buy GBPUSD
gbpusd-m15-tickmill-ltd-2.png

Entered the market At M5 (and got spreads under 1 pip) because engulfing on MA( look at the rectangle)


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

 

ijak8510

Trader
Sep 29, 2015
83
6
19
35
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 :
audcad-d1-tickmill-ltd-2.png


Sell USDCHF
1. I saw Tower pattern ,
2.confirmed by engulfing at right leg
3.left leg already formed 2 waves



My reason why i opened Sell AUDCAD is simple , Because ad Daily Timeframe , my EMA will cross, and engulfing it self alreay formed. i just need today confirmation

For EUAUD , i use it as hedge instrument against USDCHF and AUDCAD
not bad. got good spreads when i entered this 3 trades
 

ijak8510

Trader
Sep 29, 2015
83
6
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35
My fokus today is CADJPY, to find out the best price to buy CADJPY



cadjpy-h1-tickmill-ltd.png


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 ,
usdcad-d1-tickmill-ltd.png

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

ijak8510

Trader
Sep 29, 2015
83
6
19
35
Yesterday i made +$55 profit and request for Withdrawal

,
Request @ 18:12

WDrequest.png


Processed @ 21:12 GMT+7
2nvrp8n.jpg

Buy CADJPY
Chart CADJPY
cadjpy-h1-tickmill-ltd.png

Because CADJPY spreads are low, i can trade this pair
Reason buy CADJPY : Strong Support area

got 1 pip spreads

before GBP News, i tried to catch the trend
gbpusd-h1-tickmill-ltd.png
 

ijak8510

Trader
Sep 29, 2015
83
6
19
35
Got Drawdown in my ECN Pro Account
but no problem. OverAll i am still in profit T_T

eurjpy-h1-tickmill-ltd.png

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

SL Scalping
TP longterm
 

ijak8510

Trader
Sep 29, 2015
83
6
19
35
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

eurgbp-m5-tickmill-ltd.png
today we have EURO Zone news, perhaps this news could help my trade
 

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ijak8510

Trader
Sep 29, 2015
83
6
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35
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

us500-h1-tickmill-ltd-2.png
 

ijak8510

Trader
Sep 29, 2015
83
6
19
35
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

hk50-m5-tickmill-ltd.png
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
gbpusd-h1-tickmill-ltd.png
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
jp225-m5-tickmill-ltd.png
 

ijak8510

Trader
Sep 29, 2015
83
6
19
35
Sell EURGBP
god, I hate this Inverted Cup and handle Pattern.



Example of Cup and handle Pattern in WTI/CL

wti-h4-tickmill-ltd.png

looking this WTI, makes me wanna open a trade, because my broker uses fixed 1 lot , and 1 lot = 0.01$ / pips which means i trade WTI with cent account
 

ijak8510

Trader
Sep 29, 2015
83
6
19
35
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
nzdchf-h1-tickmill-ltd.png

Reason, hammer on MA with counter sell if it become invalid
 

ijak8510

Trader
Sep 29, 2015
83
6
19
35
Sell GBPCHF
very sexy
reason : RSI on 60 area, RSI Abnormal, and still in channel area

gbpchf-h1-tickmill-ltd.png
i hope it is valid
moga2 valid
got good spreads , 2.0 pips for GBPCHF
 

ijak8510

Trader
Sep 29, 2015
83
6
19
35
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