VictorFX Trading Journal

[VictorFX]

Hi,

I thought this forum might be a good place as any to start a trading journal.

I have no great expectations for this journal, however I'll try to post my trades as I take them and after I close them with perhaps some commentary to help me understand what I did well and not so well.

How I currently trade:

My trading is now heavily influenced by Nigel Price's PAST trading method. http://www.earnforex.com/forum/f9/price-action-swing-trading-past-strategy-14060/index41.html

There are many reasons why I'm attracted to Nigel's method and I'm greatly in his debt for his diligent work in putting together such a logical and readable PDF outlining how the method works.

I combine Nigel's method with simple supply / demand zones that I draw on my charts. (No Indicators)

There is nothing fancy or grand with how I trade and I sure take my fair share of losses. However, I humbly believe I'm a very good controller of risk and have the fortitude to hold my trades for large gains.

I enjoy keeping my charts as simple as possible and my trading method the same.

If anybody happens to drop by and has any questions please feel free to ask, but please bear in mind this is how I personally trade and I will never tell anybody else how they should or should not trade and would appreciate the same courtesy shown here.

 

[VictorFX]

USD CHF BUY FRI OCT 11

Weekly Anchor:
Bullish rejection bar at significant demand level after preceding down trend.

Missed the 1st break of down sloping trend line so had to wait until Friday for chance for entry at a nice demand level I had chosen.

Dropped down to lower time frames and placed 2 @ market Buy entries on breaks of 2 different down sloping trend lines.

Stops have now been moved to BE and will see if next can show more bullish price action.

 

[VictorFX]

WATCHLIST for WEEK Starting MON OCT 14

GBP USD
USD CHF
AUD CHF
EUR CAD

EUR CAD is new addition this week.
Weekly Bear rejection bar from week before last is still valid although preceding trend was very short.

Possible double top here, however I will probably be only interested in going short once a H4 upsloping trendline breaks and is retested from the underside.

If this wants to keep moving upward, I'm more than happy to step aside and watch as I can see a higher supply level that may become interesting if we move there.

As always I'll let price do the talking for me.

 

[VictorFX]

EUR USD Thoughts (Reply to foodaba)

Just keeping track of my posts in other thread.

Yes, I agree with your analysis foodaba.

EURUSD is not on my watch list as Weekly doesn't show nice preceding trend such as GBP USD.

However, my personal feeling is that if the upsloping trendline I've drawn on the H4 chart were to be broken and perhaps retested then rejected it would show me that bears are starting to gain the upper hand in this current tug-of-war that is occurring in this market.

For me GBP USD just shows a clearer picture at the moment.

Just my thoughts.

 

[VictorFX]

USD CHF Update Trades Stopped @ B/e

Weekly Anchor:
Bullish rejection bar at significant demand level after preceding down trend.

Missed the 1st break of down sloping trend line so had to wait until Friday for chance for entry at a nice demand level I had chosen.

Dropped down to lower time frames and placed 2 @ market Buy entries on breaks of 2 different down sloping trend lines.

Stops have now been moved to BE and will see if next can show more bullish price action.

No Bullish follow through today and both my entries were stopped at B/E.

I was very happy with my 2 entries but in my way of thinking I haven't lost anything on these trades, risk has been managed and will wait for next opportunity.

 

[VictorFX]

EUR CAD Trendline Break

Now watching to see if this is a falsebreak or not.

Patience.

I'll be looking to sell rejection of underside of the trendline or weakness at above supply level.

 

[VictorFX]

EUR CAD First Attempt 2 Entries

As chart should show I've taken 2 entries.

1st was a retest of the broken trendline

2nd was a sell limit at a supply area I had marked.

See if there is any follow through tomorrow.

 

[VictorFX]

EUR CAD 3rd attempt

1st attempt stopped at B/e
2nd attempt 28 pip loss

See how this one goes.

 

[VictorFX]

USD CHF 3rd Attempt

After having both early attempts stopped out at B/e early in the week
trying another entry here.

Price coming back down now so will move stop to B/e soon.

 

[VictorFX]

Review of Trading Week (Oct 14 - 18)

I think this is a good place to aim to keep myself accountable to myself.
As ugly as these stats are, these are a true reflection of my current trading.
No smoke and mirrors here. That's little boy stuff.

It's about how hard you can get hit and keep moving forward. How much you can take and keep moving forward. That's how winning is done! Now if you know what you're worth then go out and get what you're worth. But ya gotta be willing to take the hits, and not pointing fingers saying you ain't where you wanna be because of him, or her, or anybody! Cowards do that and that ain't you! You're better than that!

Right, thanks Rocky, I needed that.

Basic Weekly Stats:
Closed Trades: 13
Wins: 1
Losses: 10
B/E: 2
Pips: -218
Equity: -1.96%

Open Trades: 2
Long AUD CHF +244 pips
Long USD CHF - 35 pips

Challenges:
Watching my GBP USD trade move to 280 pips in profit over 14 days then in one day see it all drain away.
On Thursday while my GBP USD short trade was being eroded away I entered 6 sell trades trying to establish another short position and got stopped on each of them.

Positives:
Still holding on to my AUD CHF trade.
Managed risk well to take several losses and keep equity loss low.
Accepting my breakeven trades and still entering when an opportunity arose.

 

[Aquarius]

Have you just stopped posting or have you stopped trading PAST?

 

[VictorFX]

Have you just stopped posting or have you stopped trading PAST?

Hi Aquarius,

Yes, I stopped trading the PAST strategy as I wasn't strong enough mentally to take on the amount of losses that you sometimes have to endure.

It sure is hard to stick to one method or strategy while you are still in the embryo stage of trading.

All the best