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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.

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    2. #2551
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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.
      My friend, i will advice you not to do the mistakes of considering today move to judge what the market will do the next day, just make sure that the analysis you are making about this market is such that is credible, and it will surely make you to earn the best in what you need from it, I am seeing that the market in overall are not stable for me, and the reason is mainly because the risk sentiment want to get back in play, but the risk aversion is still not allowing this to happen. We all have to be smart on this.

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    4. #2552
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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
      My bonus is like my real money, losing it seems to me like losing my real money so I ensure that I am using good money risk management and then trading with discipline. Though I had some rough time at the beginning but as time goes by I got to see the reason why I should be more serious with the bonus account and I am glad I made the right choice.

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    6. #2553
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      Quote Originally Posted by ola4real View Post
      My friend, i will advice you not to do the mistakes of considering today move to judge what the market will do the next day, just make sure that the analysis you are making about this market is such that is credible, and it will surely make you to earn the best in what you need from it, I am seeing that the market in overall are not stable for me, and the reason is mainly because the risk sentiment want to get back in play, but the risk aversion is still not allowing this to happen. We all have to be smart on this.
      Well maybe he is looking at the big picture which is what we should be doing especially for those who are long term traders,it helps us to get a view of what the market will be doing in coming days sometimes even weeks,but we must still remember that price does not always move in a straight line.

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    8. #2554
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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
      You are right bro. We should give respect to Bonus Amount beacuse this is the base where we can build our Forex Empire. So if we'll consider this as Real 💰 then we'll be able to work as a Professional Trader because it is not Gambling where if one account is blown then we can create another one.

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      Quote Originally Posted by abidbutt View Post
      You are right bro. We should give respect to Bonus Amount beacuse this is the base where we can build our Forex Empire. So if we'll consider this as Real 💰 then we'll be able to work as a Professional Trader because it is not Gambling where if one account is blown then we can create another one.
      The bonus account can really serve as a good source of making good income, if we can take good care of it and never to take so much risk with it. That has been what I have been trying to learn when trading, you know forex trading is such a good business and a trader that understands the market so well, will be able to make a lot of money from the bonus which in return can serve as a good means of learning as well. It is multi-purpose.

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    12. #2556
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      Quote Originally Posted by D'mastermind View Post
      My bonus is like my real money, losing it seems to me like losing my real money so I ensure that I am using good money risk management and then trading with discipline. Though I had some rough time at the beginning but as time goes by I got to see the reason why I should be more serious with the bonus account and I am glad I made the right choice.
      You are quite correct to have been taking your Instaforex bonus account balance as real Money, I am also doing this because i know sure enough that it is the best decision. For me the bonus account of this forum is 99.99% same with a real account and as such i think so because with a bonus account, we can always withdraw real Money and thus it should be designated as a real account since we get real profits with it.

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    14. #2557
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      Quote Originally Posted by D'mastermind View Post
      My bonus is like my real money, losing it seems to me like losing my real money so I ensure that I am using good money risk management and then trading with discipline. Though I had some rough time at the beginning but as time goes by I got to see the reason why I should be more serious with the bonus account and I am glad I made the right choice.
      Well and I think everybody should follow good money management, follow risk management, get proper knowledge about world economy, proper market analysis, control emotions, avoid greed, discipline and concentration before start real trading then we may protect our invest and get good profit from Forex market outer wise we face loss that's true.
      So we should try to best success near other we can't make our dream true. Thank you.

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    16. #2558
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      Quote Originally Posted by D'mastermind View Post
      My bonus is like my real money, losing it seems to me like losing my real money so I ensure that I am using good money risk management and then trading with discipline. Though I had some rough time at the beginning but as time goes by I got to see the reason why I should be more serious with the bonus account and I am glad I made the right choice.

      This is a very right approach to get on the bigger target. Money in trading act like a fuel if have fuel then he can run here and can earn money from this market in else case he will remain in efforts to get money and remain away from trading. So its always better to consider bonus funds as hardly earned money and keep it secure and safe.

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    18. #2559
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      Quote Originally Posted by loveyo View Post
      Well and I think everybody should follow good money management, follow risk management, get proper knowledge about world economy, proper market analysis, control emotions, avoid greed, discipline and concentration before start real trading then we may protect our invest and get good profit from Forex market outer wise we face loss that's true.
      So we should try to best success near other we can't make our dream true. Thank you.
      I have seen some people in the forum who are not making use of risk management in trading, it has made a lot of people lose their money. A trader that wants to earn money from the market should use good money and risk management, because that is the best way to becoming successful. I don't risk too much when trading.

      Quote Originally Posted by kashifrehman View Post
      This is a very right approach to get on the bigger target. Money in trading act like a fuel if have fuel then he can run here and can earn money from this market in else case he will remain in efforts to get money and remain away from trading. So its always better to consider bonus funds as hardly earned money and keep it secure and safe.
      You are right and even if we get some losses it will not be much. A trader that wants to succeed in the business should be able to have learned he approach to good risk and money management, it is the best discipline we can ever get to learn.

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    20. #2560
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      Quote Originally Posted by D'mastermind View Post
      My bonus is like my real money, losing it seems to me like losing my real money so I ensure that I am using good money risk management and then trading with discipline. Though I had some rough time at the beginning but as time goes by I got to see the reason why I should be more serious with the bonus account and I am glad I made the right choice.
      That is the best approach to trading with the bonus,a lot of traders here treat the bonus as if they are trading demo account,and they can never be able to make it that way,some have posted close to $2000 but if you look at their account balance they do not have up to $100,that certainly is not good enough.

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