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    Thread: Trading journal for swing traders

    1. #1
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      Default Trading journal for swing traders

      Hello everyone,
      I am a new member in this forum. I want to share my trading system and trading journal with you. Because I know it helps me to follow my trading plan regularly.

      Trading Balance.

      Forum posting bonus from MT5 forum - 63.60 USD (This is my first bonus . Thanks, InstaForex )

      Black Frame Talent contest - 20.00 USD (Win two times last month)

      Total = 83.60 USD (02 Dec 2016)

      Trading Strategy.

      I am a swing trader.
      Pair: EU only
      Trend Chart: D1, H4
      Entry Chart: H4, H1

      How I take an entry.

      It is a process. I check all steps before taking an entry.

      1. Market Fundamental.
      Every weekend I make a fundamental note for next week. Write down all major economic event of EU. Try to understand the fundamental trend.

      2. Identify technical trend.
      I am using simple Moving average (20, 100, 200) to identify a trend. I am also using stochastics to confirm the trend.

      3. Identify major S/R level.
      Recent swing high/low in h4 and H1 time frame use as S/R level.

      4. Trade Setup
      Candlesticks, Chart pattern, Moving average touch and back.

      5. Trade confirmation
      Running Candle buy/sell, Pairs basic characteristics.

      6. Money Management.
      Lot site 1k= 0.50 insta lot.
      SL = 50pips to 100pips. Per trade risk maximum 5%.
      TP= SL X 2 ( R:R=1:2)
      When R:R=1:1 set breakeven.
      Monthly Target:200pips. 10% only.
      Per week maximum 1-2 trades.

      7. Take an entry.

      Finally, after completing all the steps I will take an entry in two points.

      1. Trend reversal.
      2. Trend continue. (most of the entry)

      My trading principles.

      1. According to situation use your common sense.
      2. Minimize loss and maximize profit.
      3. plan your trade and trade your plan.

      I will update each entry by four steps.

      1. Why I take this entry?
      2. What is really happen?
      3. What was my mistake?
      4. what will I do in future?

      I know it is very difficult to follow this plan. But I will do it. If you have any suggestions or questions about this, please let me know.

      Already took an entry in last week. Win 40pips in my first trade. Thanks Allah

      Screenshot_20161205-144220.png

    2. Catch Forex
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      dzin4aans (12-05-2016), NikitaBelle (12-05-2016)

    4. #2
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      Default

      Wow! A newbie in the trading journal is here with us! My bro. you are really welcome in this special place and it would go along way helping you to remain stable and stick to your trading rules because you understand that people are watching your back! In fact, I am personally watching you too! HAahaha!
      Today's mistakes are stepping stones full of knowledge that can help us overcome the stumbling blocks of tomorrow's challenges.

      My Trading Journal

    5. The Following 3 Users Say Thank You to Moneymadeeasy For This Useful Post:

      dzin4aans (12-05-2016), NikitaBelle (12-05-2016), Omar Sayeed (12-05-2016)

    6. #3
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      Default

      Hello everyone,
      I am a new member in this forum. I want to share my trading system and trading journal with you. Because I know it helps me to follow my trading plan regularly.
      Hooray! Nice to see you here in the journal section Omar! Am happy that you finally decided to join us here, we are excited to learn from your trading and hopefully you can give us some tips and good analysis as well. Keep up the good work and hope you update your journal everyday with your trading results and analysis. Let's learn together!

      Looking forward to your trading result everyday. You are a great addition to our journal family here in our beloved forum, cheeers!

    7. The Following 2 Users Say Thank You to NikitaBelle For This Useful Post:

      dzin4aans (12-05-2016), Omar Sayeed (12-05-2016)

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      I am so happy for you Omar Sayeed that you kept your word and opened your trading journal That is the right way to go
      And your plan looks really exciting and I am definitely looking forward to see more trades from you
      Best of luck from me and lets roll those pips in our pockets together

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      NikitaBelle (12-06-2016), Omar Sayeed (12-06-2016)

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      Default

      Hello Omar, how it's going? Are you observing EUR/USD right now, following it and trying to find a good set up? I find the current EUR/USD trying to reach 1.0800 level, what is your take on this? EU is Southbound or Northbound in the coming days?

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    12. #6
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      It is my great pleasure to be a part of this great family. I hope, I will learn more from you. Please give me any suggestions which are helpful for my trading system.

      Update:

      EU sell limit#1.0810 SL#1.0860 TP#1.0710

      Why I take this trade:

      Fundamental:
      This is the last month of the year. I think USD continue its rally.
      As well as ECB keep pressure on EU.

      Trend:
      Market already breakout. But do not cross 200MA in H4. Hope price will back to the main trend.

      S/R level:

      1.0810 is good resistance for EU. It is also 200MA.

      Trade Setup:
      Already a Shooting Star formed in H4 candle.

      Entry:

      Sell limit #1.0810, I think market go up again and touch 200 MA & back. If not I delete my order. There is also a good S/R level in this area. We set stop loss #1.0860 ( another resistance is #1.0850)

      Let's see, what will really happen.

      screen shot one.png

      N:B: This is completely my personal opinion. Please follow your own risk.
      Last edited by Omar Sayeed; 12-06-2016 at 07:30 AM.

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    14. #7
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      Quote Originally Posted by NikitaBelle View Post
      Hello Omar, how it's going? Are you observing EUR/USD right now, following it and trying to find a good set up? I find the current EUR/USD trying to reach 1.0800 level, what is your take on this? EU is Southbound or Northbound in the coming days?
      Yes, I am observing EU all the time. It is the only pair that I trade . I think there we will see two scenarios.

      1. EU go up after making a good correction between 1.0850 to 1.0700 level
      2. EU continue its down trend.

      That is why I set my sell limit # 1.0810.

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    16. #8
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      Quote Originally Posted by Omar Sayeed View Post
      Yes, I am observing EU all the time. It is the only pair that I trade . I think there we will see two scenarios.

      1. EU go up after making a good correction between 1.0850 to 1.0700 level
      2. EU continue its down trend.

      That is why I set my sell limit # 1.0810.
      Wow, that is good, you trade one pair only? So how many years you are trading EU pair exclusively? Was trading with one pair make your analysis easier to do?

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    18. #9
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      Quote Originally Posted by NikitaBelle View Post
      Wow, that is good, you trade one pair only? So how many years you are trading EU pair exclusively? Was trading with one pair make your analysis easier to do?
      I am trading EU from last one year. Yes, it is easy to analysis. My monthly target just only 200pips that is only 10% of my trading account. If I concentrate only one pair, it is easy to reach my target. I do not want to earn from this market right now. I just want to develop myself and my trading system.

      Another reason is I want to focus only my trading system. If I trade three or four pairs, it is difficult to follow a system.

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    21. #10
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      Quote Originally Posted by Omar Sayeed View Post
      Yes, I am observing EU all the time. It is the only pair that I trade . I think there we will see two scenarios.

      1. EU go up after making a good correction between 1.0850 to 1.0700 level
      2. EU continue its down trend.


      That is why I set my sell limit # 1.0810.
      First I appreciate your chart setup, time frames you are trading and for choosing only one pair of currency to trade and all these would make it possible for you to trade without stress and confusions. I personally is trading nine currency pairs because I am trying to develop my brain to keep doing things that seems hard due to I believe it can do it but we the human beings are just scare of doing them.
      Today's mistakes are stepping stones full of knowledge that can help us overcome the stumbling blocks of tomorrow's challenges.

      My Trading Journal

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