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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. #2571
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      So what do you think about those instruments above? What do you think about those markets? Let me read your thoughts on those pairs and other instruments that I mentioned above. Please keep the conversation going and on topic.
      The USD is very strong, but it should retrace sooner, or later and this might help EUR and AUD, or NZD to stay middle bullish yet, so if, I was a seller on EURUSD I would watch very well where and how to manage my stops. If it moves down to 1.17137 there is a big probability that it may bounce up. If, it breaks with much momentum the level I may sell it.


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      Quote Originally Posted by PhantomTrader79 View Post
      Okay, time for a new question....

      "What do you think about forex trading for female?"

      This business is tough but it's not impossible to do it successfully both for male and female. However, some qualities of female can really outclassed even the best male traders. Now let me read your opinion on this one but before that, please take a look at the opinion that I gathered from all around the internet regarding this topic:

      http://forum.mt5.com/showthread.php?...eat-For-Female

      This should be an interesting topic to read.


      Notice to all:
      The weekly money for posting system already kick start hours ago, please trade responsibly because there might be consequences later if you just gamble it away.
      I do not think that there have been scientific studies in this matter, so most opinions on the Internet are speculation or the result of personal experiences, and this does not necessarily mean that this point of views are true because most traders are men, perhaps because men are more interested in it, but this does not mean that Women will not be as successful in trading as like any other job.


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      Quote Originally Posted by PhantomTrader79 View Post
      Yes, forex can change people's lives for the good or worse. It depends on the seriousness in learning and strong determination too.



      Yes, not every female can do this and it's exactly the same with male where not every male can trade forex successfully.
      Let's face it, most of the society in the world still view female as inferior to male and this is why it's rare to see big successful business women.
      But I can assure you this is common in the places where women are viewed equal as men.
      But again, the article I posted is not about women can be more successful than men, the title says "reasons why forex trading is great for women" I hope you can tell the difference between what you are saying with what the article is talking about.



      Yes, people with handicap can definitely be trained to trade forex. The only question is will their family members allow them to do so? If the handicap person can succeed some people in the family might be jealous and don't want this to happen. Jealously can turn to hatred and this is common in the world.



      Yes indeed. I agree with what you mentioned.



      Now then, let's move on to the analysis...

      I'm just gonna post the analysis in here instead of the other thread from now on. So let's get going....

      Attachment 78691

      Attachment 78692

      So what do you think about those instruments above? What do you think about those markets? Let me read your thoughts on those pairs and other instruments that I mentioned above. Please keep the conversation going and on topic.
      On the bigger picture GOLD is heading down because we already see the lower highs and it's the same with OIL.
      For /USD there is room for price going down and after that we will see bulls push the price before this week ends.


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      Quote Originally Posted by PhantomTrader79 View Post
      Yes, forex can change people's lives for the good or worse. It depends on the seriousness in learning and strong determination too.



      Yes, not every female can do this and it's exactly the same with male where not every male can trade forex successfully.
      Let's face it, most of the society in the world still view female as inferior to male and this is why it's rare to see big successful business women.
      But I can assure you this is common in the places where women are viewed equal as men.
      But again, the article I posted is not about women can be more successful than men, the title says "reasons why forex trading is great for women" I hope you can tell the difference between what you are saying with what the article is talking about.



      Yes, people with handicap can definitely be trained to trade forex. The only question is will their family members allow them to do so? If the handicap person can succeed some people in the family might be jealous and don't want this to happen. Jealously can turn to hatred and this is common in the world.



      Yes indeed. I agree with what you mentioned.



      Now then, let's move on to the analysis...

      I'm just gonna post the analysis in here instead of the other thread from now on. So let's get going....

      Attachment 78691

      Attachment 78692

      So what do you think about those instruments above? What do you think about those markets? Let me read your thoughts on those pairs and other instruments that I mentioned above. Please keep the conversation going and on topic.
      Everyone is waiting for the FOMC and I'm sure the market will move strongly judging from the movement of the pairs since Monday this week. And also the FOMC this time is set at the same date with ECB press conference so the movement will be especially big on the market. Just wait for it, after this the market will move like usual again.


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      Quote Originally Posted by Scheduled Pips View Post
      Everyone is waiting for the FOMC and I'm sure the market will move strongly judging from the movement of the pairs since Monday this week. And also the FOMC this time is set at the same date with ECB press conference so the movement will be especially big on the market. Just wait for it, after this the market will move like usual again.
      FOMC has not moved the market highly this time as the rate hike was priced in for each levels of the currencies. But now ECB is going to close its quantitative easing so we may see bearish move on the EUR/USD so it is nice to place trades on the bearish side as it will have much more risk to reward trade.


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      I amazed not so deep into trading the fundamentals but if what we saw yesterday was anything to go by, I believe that FOMC is a force to reckon with, I did not like the reaction that EUR USD had though, I was thinking that it would experience a great crash, I needed to exit almost immediately because of the slow selling pressure. I don't also think we might see a bearish close of eu this week, price has formed a bullish pin bar, what's your take on eu dear Super Mod.


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      Traders are really surprised due to the movement of big pairs after ECB President statement. Its true that it move market a lot but we should keep in mind that Fundamental Analysis are more powerful than Technical. When a news hit the market then its not possible for Technical levels to stay in market. Yesterday wee see this thing in Eur/Usd which supports levels break one after one. We can depend on Technical at the time of news, so its better to close that positions of make some changes according to news. Only this thing can save us from losses and also give us handsome profits.
      If you can Dream it, You can do it
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      Quote Originally Posted by PhantomTrader79 View Post
      Yes, forex can change people's lives for the good or worse. It depends on the seriousness in learning and strong determination too.



      Yes, not every female can do this and it's exactly the same with male where not every male can trade forex successfully.
      Let's face it, most of the society in the world still view female as inferior to male and this is why it's rare to see big successful business women.
      But I can assure you this is common in the places where women are viewed equal as men.
      But again, the article I posted is not about women can be more successful than men, the title says "reasons why forex trading is great for women" I hope you can tell the difference between what you are saying with what the article is talking about.



      Yes, people with handicap can definitely be trained to trade forex. The only question is will their family members allow them to do so? If the handicap person can succeed some people in the family might be jealous and don't want this to happen. Jealously can turn to hatred and this is common in the world.



      Yes indeed. I agree with what you mentioned.



      Now then, let's move on to the analysis...

      I'm just gonna post the analysis in here instead of the other thread from now on. So let's get going....

      Attachment 78691

      Attachment 78692

      So what do you think about those instruments above? What do you think about those markets? Let me read your thoughts on those pairs and other instruments that I mentioned above. Please keep the conversation going and on topic.
      The market is now already entered your S/D zone (GBP/USD). According to you what will happen to the price?
      I'm not know a lot in S/D so I want to learn also. Kindly explain the analysis.


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      Quote Originally Posted by nikhil_rrane View Post
      FOMC has not moved the market highly this time as the rate hike was priced in for each levels of the currencies. But now ECB is going to close its quantitative easing so we may see bearish move on the EUR/USD so it is nice to place trades on the bearish side as it will have much more risk to reward trade.
      My prediction gone right yesterday and euro got hammered from that level almost 300 pips down so i was not have balance with me at that time so i am not able to make some profit from that move but i am really happy that i have made good analysis of that pair.

      Quote Originally Posted by I'm Trader View Post
      Traders are really surprised due to the movement of big pairs after ECB President statement. Its true that it move market a lot but we should keep in mind that Fundamental Analysis are more powerful than Technical. When a news hit the market then its not possible for Technical levels to stay in market. Yesterday wee see this thing in Eur/Usd which supports levels break one after one. We can depend on Technical at the time of news, so its better to close that positions of make some changes according to news. Only this thing can save us from losses and also give us handsome profits.
      It was not surprise but it was expected that ecb will try to close their quantitative easing programme and they just have postponed it till the year end and there are no chances of rate hike in near future. So the euro got sold out heavily.


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      Quote Originally Posted by PhantomTrader79 View Post
      Yes, forex can change people's lives for the good or worse. It depends on the seriousness in learning and strong determination too.



      Yes, not every female can do this and it's exactly the same with male where not every male can trade forex successfully.
      Let's face it, most of the society in the world still view female as inferior to male and this is why it's rare to see big successful business women.
      But I can assure you this is common in the places where women are viewed equal as men.
      But again, the article I posted is not about women can be more successful than men, the title says "reasons why forex trading is great for women" I hope you can tell the difference between what you are saying with what the article is talking about.



      Yes, people with handicap can definitely be trained to trade forex. The only question is will their family members allow them to do so? If the handicap person can succeed some people in the family might be jealous and don't want this to happen. Jealously can turn to hatred and this is common in the world.



      Yes indeed. I agree with what you mentioned.



      Now then, let's move on to the analysis...

      I'm just gonna post the analysis in here instead of the other thread from now on. So let's get going....

      Attachment 78691

      Attachment 78692

      So what do you think about those instruments above? What do you think about those markets? Let me read your thoughts on those pairs and other instruments that I mentioned above. Please keep the conversation going and on topic.
      I prefer watching support and resistant level than supply and demand because S/R hinges on the strength of the price action compared to S/D that only rely on something that can't really be verified. The theory of S/D is market imbalance but you really don't know the volume in forex so it's impossible to see if there is really imbalance or not.
      Welcome to the world of conservative trading!


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