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    Thread: Phantomtrader79's trading journal

    1. #1
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      Default Phantomtrader79's trading journal

      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

      Various patterns:
      http://forum.mt5.com/showthread.php?...1#post12678508
      http://forum.mt5.com/showthread.php?...1#post12681016
      http://forum.mt5.com/showthread.php?...1#post12683396
      http://forum.mt5.com/showthread.php?...1#post12684167




      Account monitoring:
      (in accordance to the forum rules I had to delete the links to 3rd party monitoring website, I will add InstaForex monitoring in the future).
      Last edited by PhantomTrader79; 01-06-2018 at 02:59 PM.


    2. #2541
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      I agree with those above who says that if someone is new to trading then the better choice is to start using free capital.
      Here free capital did not bring responsibility with it, trader always use all of his risk that he can take then surely such traders met with failures and no help remain there to rescue them. To learn well and to trade with the responsibility it is necessary for trader to invest something from pocket and then make decision, there he will try hard to save that money which is invested from pocket.


    3. The following 8 users say Thank You to kashifrehman for this useful post.

      bigani (06-07-2018), I'm Trader (06-07-2018), Omoba9ce (06-07-2018), PhantomTrader79 (06-06-2018), Unregistered (4)

    4. <a href="http://forum.mt5.com">‘ÓūŚÍŮ ÔÓūÚŗŽ</a>
    5. #2542
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      Quote Originally Posted by kashifrehman View Post
      Here free capital did not bring responsibility with it, trader always use all of his risk that he can take then surely such traders met with failures and no help remain there to rescue them. To learn well and to trade with the responsibility it is necessary for trader to invest something from pocket and then make decision, there he will try hard to save that money which is invested from pocket.
      I agree with you bro. Free capital does not encourage diligence amongst traders. I'm afraid, some traders do not value free capital and even bonuses, so they blow it all. Also, its unfortunate that some traders have to lose a chunk of their own money before they'll take this business serious.


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    7. #2543
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      Quote Originally Posted by PhantomTrader79 View Post
      Thanks to everyone who gave their opinion regarding the question I asked before.

      Well, like they say if you can get something for free then why not give it a try. But of course, if you are already trading with your own big capital then this does not concern you at all. I agree with those above who says that if someone is new to trading then the better choice is to start using free capital. This will help us learn better than using just a demo account because real account is completely different than the demo account in terms of the psychological pressure. According to research done by reputable survey company mostly a trader is crushed by the psychological pressure than from the technical aspects of trading. In my opinion, demo account is only used to get yourself comfortable about using the trading platform or just for introductory phase.

      I will post another question for you all but I'm gonna do it tomorrow and I hope we can continue with the good discussion.

      As for now, I already did an analysis on the market but as usual I posted it on another thread and you can see them here:

      http://forum.mt5.com/showthread.php?...1#post12767083



      Trade wisely mateys!
      Thanks for the frequent analysis, phantom.

      For me, it doesn't matter if one want to start trading with demo, cent account or straight away real account. Some might feel that demo does not involved emotions and it's not real and some will not want to start with real money. And some will take the middle ground by using cent account. There's nothing wrong/right with these. As long as we know what we're doing and fully aware of the risk, that's all that matter.

      The Q&A sharing session is strangely refreshing. Can't wait for the next one!


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    9. #2544
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      Good Morning Friend!
      Long time no see! Yes I'm talking about Gbp/Usd and Eur/Usd bulls. we know that from last couple of weeks the overall trend of these two major pairs are bearish. many time we see small reversals but after some pipes movements it stop and start moving again with bear. in this week we can see a strong bullish movement so far. I know there are 2 days left and some high impact news can change the picture but overall my idea is bullish trading. we can trade in these pairs with bulls for short and medium term.
      If you can Dream it, You can do it


    10. #2545
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      Quote Originally Posted by kashifrehman View Post
      Here free capital did not bring responsibility with it, trader always use all of his risk that he can take then surely such traders met with failures and no help remain there to rescue them. To learn well and to trade with the responsibility it is necessary for trader to invest something from pocket and then make decision, there he will try hard to save that money which is invested from pocket.
      That is were we need to be very discipline as traders,because some one has free capital does not necessary mean that they should be irresponsible,a lot of traders do not have money to invest in the market,so it is very important that they take whatever they get very seriously so that they can begin to earn something.


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    12. #2546
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      Quote Originally Posted by bigani View Post
      That is were we need to be very discipline as traders,because some one has free capital does not necessary mean that they should be irresponsible,a lot of traders do not have money to invest in the market,so it is very important that they take whatever they get very seriously so that they can begin to earn something.
      The basic concept here is the responsibility i believe that a trader take more responsibility when he invest some thing from his own pocket or consider bonus money as hard earned money. On the other side bonus always remain small and with small amount trading always remain tough when trader learn to trade there he need to invest wisely.


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    14. #2547
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      The basic concept here is the responsibility i believe that a trader take more responsibility when he invest some thing from his own pocket or consider bonus money as hard earned money. On the other side bonus always remain small and with small amount trading always remain tough when trader learn to trade there he need to invest wisely.
      I feel sorry for those who do not care about trading with the bonus in a serious and responsible way, where I see a lot of recklessness and negligence just because it is money is not of his own money
      But the bonus is real money you can win real money from it so there must be respect for this and take into account the correct rules of trading


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    16. #2548
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      Quote Originally Posted by I'm Trader View Post
      Good Morning Friend!
      Long time no see! Yes I'm talking about Gbp/Usd and Eur/Usd bulls. we know that from last couple of weeks the overall trend of these two major pairs are bearish. many time we see small reversals but after some pipes movements it stop and start moving again with bear. in this week we can see a strong bullish movement so far. I know there are 2 days left and some high impact news can change the picture but overall my idea is bullish trading. we can trade in these pairs with bulls for short and medium term.
      IF we consider today's move then we can consider that both the pairs are ready to sky rock again as technicals along with fundamentals are in support to get long on these two and i am still on he buy side, will take buy positions on the both before the EU open of the monday and hopefully this will provide opportunity to ride these for the next week.


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    18. #2549
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      Quote Originally Posted by kashifrehman View Post
      IF we consider today's move then we can consider that both the pairs are ready to sky rock again as technicals along with fundamentals are in support to get long on these two and i am still on he buy side, will take buy positions on the both before the EU open of the monday and hopefully this will provide opportunity to ride these for the next week.
      I agree, looking at Friday's movement, I would say that GU was able to withstand negative news, and both GU and EU which began with a sell off, were able to retrace to to near its open price, although both still closing lower. This means that the bulls still have momentum to push the pair higher, next week will be a very interesting week to watch.


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      Quote Originally Posted by taifon View Post
      I feel sorry for those who do not care about trading with the bonus in a serious and responsible way, where I see a lot of recklessness and negligence just because it is money is not of his own money
      But the bonus is real money you can win real money from it so there must be respect for this and take into account the correct rules of trading
      Yea, but i think most of us as come to understand that the bonus is real, so sin traders don't loose the capital because they don't take it seriously but because they somehow still lack some understanding of the market, I wanna believe most of us are serious with the bonus because leaving everything and be in here in the forum speaks about serious we are. But we just have to improve our knowledge first before we can see the impact of the bonus


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