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    Thread: / \ Kaizen

    1. #1
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      Default / \ Kaizen

      I have decided to close my previous trading journal (Anything Goes 2016: 2nd Voyage) to open a new trading journal thread. This will help start fresh and move forward with my new plan (well actually it's still the same plan but I decided to add some things to the mix).

      First things first...

      The title of the thread is "/ \ Kaizen" and why did I pick that thread title? Well, actually I wanted to put Price & Time: Kaizen but it has a resemblance to my old trading journal thread's titles so I decided to use symbol for time and price which are expressed by

      / which means time, price, up trend. Time and price are the 2 basic element in trading and without them there will be no market. As time goes by the price might rise and thus the symbol "/".

      \ which means the same as the above but this time it shows that as time goes by the price can also go down.

      Kaizen which means constant improvement.

      So as a result, the title is much shorter but has a lot more meaning to it

      Now then, in my previous journal I mentioned a lot of things that I like to use when seeing the market because there is a lot of way to view the market even though the chart is one and the same in the eyes traders. Those things are:

      Candlestick which you can read about it in here:

      http://forum.mt5.com/showthread.php?...ex-Candlestick

      Western chart pattern:

      http://forum.mt5.com/showthread.php?...-Chart-Pattern

      Support & Resistance:

      http://forum.mt5.com/showthread.php?...amp-Resistance

      and also Fibonacci:

      http://forum.mt5.com/showthread.php?...ndex-Fibonacci

      Trend Line:

      http://forum.mt5.com/showthread.php?...dex-Trend-Line

      Elliot Wave:

      http://forum.mt5.com/showthread.php?...x-Elliott-Wave

      Supply and Demand:

      http://forum.mt5.com/showthread.php?...ply-and-Demand

      and several other things. The good thing about those I mentioned above is they don't require complex math calculation and mostly can be seen with naked eyes (with the only exception which is Fibonacci). The chart will tell us a story of the struggle between the bulls and bears and as they continue to struggle the narrative will show one or a couple or more of what I already mentioned at once and based on that narrative the trader will make a decision whether to enter a trade or pass. Obviously, I will not be trading using everything above at once due to time and fund efficiency.

      My goal in this thread is to keep growing the accounts until they reach significant amount and also talk about my views on the market. I always welcome constructive criticism so please make sure that your comment add value to this thread. In my previous journal I mentioned my goal of turning a small account into many fold and it backfired my psychology as it constantly puts pressure on my mind so I'm not gonna do that this time. Other traders love to put a target and it won't bother them at all but not with me so I'm just gonna leave it. I'm just gonna do my best and keep updating the journey as I go along the way.

      With things already out of the way now let's officially start the journal by waiting for the new trading week to start!

      Let's rock ~~~!!!





      Important info:

      Core basics in trading:
      http://forum.mt5.com/showthread.php?...1#post12605821

      Entry methods:
      http://forum.mt5.com/showthread.php?...1#post12625288




      Account monitoring:

      Bonus account (from forum) https://www.myfxbook.com/members/Pha...-bonus/2268828
      Rebate account https://www.myfxbook.com/members/Pha...eurica/2313871
      Last edited by PhAnToMtRaDeR79; 11-03-2017 at 06:28 AM.


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    2. The Following 36 Users Say Thank You to PhAnToMtRaDeR79 For This Useful Post:

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      Thank you super Mod phantomrader79 for the above assurances about everyone being treated with respect, I just like the organization and sanity that reigns here, I belong to a forum of traders in my country, it's more like an interactive blog and you will see all manner of misbehavior and unnecessary comments, I am happy we have a friendly environment here.

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      I made some losses during this trading week but then after thinking about the risk management method and comparing them I decided to return to fixed dollar and maybe with some variation too. Alexander did make some good points during that conversation before in this thread and this is good information tbh.

      Anyway, here's the loss that I encountered before and I made some profit from my trades that I entered during late European session and closed it this morning and here's the result:


      https://s17.postimg.org/lkhtou1un/image.png


      https://charts.mql5.com/16/945/gbpus...omtrader79.png

      The TP for the profitable trades were actually ridiculously big but I'm currently on account recovery mode so I can't really risk losing the pips that I already have so I manually closed the trade earlier today.

      My account is back to $450 from previously $300~something last trading week. So we're on track to recover the account's losses. I need like $450 more to get back to $900 in my bonus account while for the other account I need around $150.

      This month is already December so I might have to stop trading before holiday season begin around 2 weeks from now. That's it for the update and I'll see you guys again next trading week.


      Enjoy your weekend mateys!


      Everything you need to know about forex trading can be found in here:
      http://forum.mt5.com/forumdisplay.ph...orex-Education

      Connect with me on Facebook: Redart Motnahp
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    7. The Following 10 Users Say Thank You to PhAnToMtRaDeR79 For This Useful Post:

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      Quote Originally Posted by PhAnToMtRaDeR79 View Post
      I made some losses during this trading week but then after thinking about the risk management method and comparing them I decided to return to fixed dollar and maybe with some variation too. Alexander did make some good points during that conversation before in this thread and this is good information tbh.

      Anyway, here's the loss that I encountered before and I made some profit from my trades that I entered during late European session and closed it this morning and here's the result:


      https://s17.postimg.org/lkhtou1un/image.png


      https://charts.mql5.com/16/945/gbpus...omtrader79.png

      The TP for the profitable trades were actually ridiculously big but I'm currently on account recovery mode so I can't really risk losing the pips that I already have so I manually closed the trade earlier today.

      My account is back to $450 from previously $300~something last trading week. So we're on track to recover the account's losses. I need like $450 more to get back to $900 in my bonus account while for the other account I need around $150.

      This month is already December so I might have to stop trading before holiday season begin around 2 weeks from now. That's it for the update and I'll see you guys again next trading week.


      Enjoy your weekend mateys!

      If there is something I like about this post is nothing but the golden prompt decision making which is displayed by you as an experienced trader, because the market is always there for all us as traders to trade and the act of minimizing our losses and having the hope to bounce is a great psychological balance. Well done boss

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      Quote Originally Posted by PhAnToMtRaDeR79 View Post
      I made some losses during this trading week but then after thinking about the risk management method and comparing them I decided to return to fixed dollar and maybe with some variation too. Alexander did make some good points during that conversation before in this thread and this is good information tbh.

      Anyway, here's the loss that I encountered before and I made some profit from my trades that I entered during late European session and closed it this morning and here's the result:


      https://s17.postimg.org/lkhtou1un/image.png


      https://charts.mql5.com/16/945/gbpus...omtrader79.png

      The TP for the profitable trades were actually ridiculously big but I'm currently on account recovery mode so I can't really risk losing the pips that I already have so I manually closed the trade earlier today.

      My account is back to $450 from previously $300~something last trading week. So we're on track to recover the account's losses. I need like $450 more to get back to $900 in my bonus account while for the other account I need around $150.

      This month is already December so I might have to stop trading before holiday season begin around 2 weeks from now. That's it for the update and I'll see you guys again next trading week.


      Enjoy your weekend mateys!
      Awesome! That is quite a huge drawdown your account faced, more than 50% if my calculations are right, the forex trader is always faced with some inevitable losses, closing trades before they hit Take profits is good, we have to manage our accounts well instead of pouring the little we have earned back into the sea of the market, your decision is timely.

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      Quote Originally Posted by PhAnToMtRaDeR79 View Post
      I made some losses during this trading week but then after thinking about the risk management method and comparing them I decided to return to fixed dollar and maybe with some variation too. Alexander did make some good points during that conversation before in this thread and this is good information tbh.

      Anyway, here's the loss that I encountered before and I made some profit from my trades that I entered during late European session and closed it this morning and here's the result:


      https://s17.postimg.org/lkhtou1un/image.png


      https://charts.mql5.com/16/945/gbpus...omtrader79.png

      The TP for the profitable trades were actually ridiculously big but I'm currently on account recovery mode so I can't really risk losing the pips that I already have so I manually closed the trade earlier today.

      My account is back to $450 from previously $300~something last trading week. So we're on track to recover the account's losses. I need like $450 more to get back to $900 in my bonus account while for the other account I need around $150.

      This month is already December so I might have to stop trading before holiday season begin around 2 weeks from now. That's it for the update and I'll see you guys again next trading week.


      Enjoy your weekend mateys!
      Oh, I did not notice when your account experienced this much drawdown, but the good thing is it is coming up gradually, I believe that before the end of the third week other month, you should be able to make a good recovery, this kind of thing scares me a lot, I start getting jittery.
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      Dear super Moderator sir nice to see your trading history and I think as soon as you recover your previous loss. Best of luck dear super Moderator sir. Happy weekend. Thank you.

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      Quote Originally Posted by PhAnToMtRaDeR79 View Post
      I made some losses during this trading week but then after thinking about the risk management method and comparing them I decided to return to fixed dollar and maybe with some variation too. Alexander did make some good points during that conversation before in this thread and this is good information tbh.

      Anyway, here's the loss that I encountered before and I made some profit from my trades that I entered during late European session and closed it this morning and here's the result:


      https://s17.postimg.org/lkhtou1un/image.png


      https://charts.mql5.com/16/945/gbpus...omtrader79.png

      The TP for the profitable trades were actually ridiculously big but I'm currently on account recovery mode so I can't really risk losing the pips that I already have so I manually closed the trade earlier today.

      My account is back to $450 from previously $300~something last trading week. So we're on track to recover the account's losses. I need like $450 more to get back to $900 in my bonus account while for the other account I need around $150.

      This month is already December so I might have to stop trading before holiday season begin around 2 weeks from now. That's it for the update and I'll see you guys again next trading week.


      Enjoy your weekend mateys!
      Oh dear, this is serious, but I know your trading ability and prowess, you have the patience and strategy to bring that account back to its formal state, if I may ask, did this drawdown affect the deposit you made in the live account, I mean that one that has rebate.

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      Quote Originally Posted by PhAnToMtRaDeR79 View Post
      I made some losses during this trading week but then after thinking about the risk management method and comparing them I decided to return to fixed dollar and maybe with some variation too. Alexander did make some good points during that conversation before in this thread and this is good information tbh.

      Anyway, here's the loss that I encountered before and I made some profit from my trades that I entered during late European session and closed it this morning and here's the result:


      https://s17.postimg.org/lkhtou1un/image.png


      https://charts.mql5.com/16/945/gbpus...omtrader79.png

      The TP for the profitable trades were actually ridiculously big but I'm currently on account recovery mode so I can't really risk losing the pips that I already have so I manually closed the trade earlier today.

      My account is back to $450 from previously $300~something last trading week. So we're on track to recover the account's losses. I need like $450 more to get back to $900 in my bonus account while for the other account I need around $150.

      This month is already December so I might have to stop trading before holiday season begin around 2 weeks from now. That's it for the update and I'll see you guys again next trading week.


      Enjoy your weekend mateys!
      Fear is the cause of total account crashing, and with what i have seen with the way you are handing your account, i know that you are not afraid. And for the fact that you have employed the work of the right management to your trading, you shall surely recover and make profits afterwards. That is why i always advice trader that losing means nothing. As long as the trader have a recovery plan, they will get back on track.

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      Glad I am around this section, ultimately I can see that I can make money with the help of such journal. Come to think of it, you are a moderator, this is a good example, I am now geared up to learn and soon open my own trading journal.

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      Quote Originally Posted by ajagbeolegba View Post
      Fear is the cause of total account crashing, and with what i have seen with the way you are handing your account, i know that you are not afraid. And for the fact that you have employed the work of the right management to your trading, you shall surely recover and make profits afterwards. That is why i always advice trader that losing means nothing. As long as the trader have a recovery plan, they will get back on track.
      It is not total fear, most times it is the improper knowledge that causes the losses as well. But if trader can have the knowledge and skills it takes to trade the right way, we can make money. Mostly using risk management always when trading will help us be able to recover amidst the losses we have attained.

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