MartyFish's - Trading journal

[MartyFish]

As, Most of you know here that I trade a limited number of pairs i.e I trades in only GN & EN and mostly they both moves similar thus helps me in confirming my signals because a bull signal on GN should also cast a bull signal on EN.

Now, as I trade limited numbers of pairs, so i needs to trade almost every opportunity that the pair is giving and for this I am using 3 different strategies or 3 different kinds of entries/setup to catch them efficiently.

And, instead of using 3 different kinds of strategies seperately or independently & hopping from one strategy to other, I have merged them all together into a 1 system with which I can trade all these 3 strategies & take all these 3 types of entries/setup through it efficiently with keeping it as simple and less complex as possible.


*My Entry :-


1. Reversal Trading Strategy :- For Reversal Setups, I would be using Channels, Trendlines & sup dem zones to find the high probability areas from where a reversal can take place.

2. Pivot Point Trading Strategy :- For this kind of Setups, I would be using Weekly & Monthly Pivot levels and will be using Price Action, BB(20,2) & signal candle (whose open is above/below a pivot level & whose close is below/above that pivot level).

3. Trend Following Trading Strategy :- For Trend following / Trend continuation Setups, I would be using 2 GMTS matrix's H4 & Daily. The GMTS matrix shows Trend, Momentum, Strength & Sentiment as per the price action all 4 red means a bearish signal, all 4 blue means a bullish signal. Apart from GMTS matrix I will be using BB(20,2) & price action to take my trend following / trend continuation entries.


*Note:-

1. All my entries will be taken from H1/H4 and I would be using H1,H4,DAILY & WEEKLY Multi-timeframe analysis to make crucial decisions.

2. I won't trade any of my 3 strategies setup against the GMTS Daily Matrix Signal. I would trade only in the direction of GMTS Daily Matrix Signal or would trade if there is No Clear Signal in GMTS Daily Matrix.


*My Stop :-

All my trades will have a fix SL & no trade will be opened without a SL. All my SL's will be placed above/below previous swing low & previous swing high.

*My Exit :-

My Exit would be determined using trendlines projections, Opposite Channels, sup dem zones or Pivot Levels. Apart from that I would be moving My SL to breakeven once the Price moves certain amount in profit & would also activate a trailing stop once the Price reaches near my target zone.


*My Risk : Reward Ratio :-

1. For Reversal Trading Strategy :- My R:R would be highest 1:3+

2. For Pivot Point Trading Strategy :- My R:R would be 1:1 or lesser.

3. For Trend Following Trading Strategy :- My R:R would be 1:2 or lesser.


*Money Management :-


1. For Bonus Account :- I would be risking 5% on a setup, till next 10 setup & after 10 setupI would re-calculate my 5% lot size.

2. For Real Account :- I would be risking 2% on a setup. till next 10 setup & after 10 setup I would re-calculate my 2% lot size.

After every loss, I would stop my trading and won't continue until I find my mistake & find a solution and a better way to counter/avoid that mistake & avoid taking such entries.


*My Goals :-

Just trade with following all my rules, trading plan & thrive to become better & better with every passing trading week. No Goals for monetary gains, only goal is to become the best possible me.


*My 3 in 1 Trading System Charts :-








P.S :- To Refer My This 3 in 1 Trading System, You can start referring my Journal since this Post http://forum.mt5.com/showthread.php?...1#post12688327. As, My Journal goes on, I will post my these 3 types of setups or entries accordingly which will give more insights about how I trades this system.

[NikitaBelle]

Hi! Traders,

Finally, I am prepared to share with you all, my style of trading of creating this new Journal. Hope, that i don't make a make fool of myself..

Welcome to the journal section Marty!

Your journal will certainly guide you well in all your trading endeavors. It will be your trading diary from now on. I wish you goodluck in everything that you do. We can learn from each other, from now on we are your trading buddies. Let's help and inspire each other for our future trading success! The countdown start now buddy! Go on, move on forward to reach your goals in trading! Little step taken each day can bring you nearer to your success!

Cheers!

[MartyFish]

Your journal will certainly guide you well in all your trading endeavors. It will be your trading diary from now on.

Yes, you are right. To be Frank, I have not opened this Journal to help others learn & get some idea on my trading style.

I had just opened it for myself, so that i can record my trading activity in a more detailed way, which will always bring me on track, if i alters from my track (which i always tends to do) & help me to become a more better & consistent trader.

And, if someone learns something from my Journal, then that would be a plus..

---------- Post added at 07:20 PM ---------- Previous post was at 07:03 PM ----------

but taking 10% risk on per trade are not good option,

This very less risk according to me, earlier I used to risk 100% & 50% risk per trade I will come down on risk once i have enough capital my dream is to come down to 1% risk per trade.

---------- Post added at 07:25 PM ---------- Previous post was at 07:20 PM ----------

i am not so used to stochastic.

Stochastic are my Favorites and I Hope, that I will try to showcase the true power of Stochastic in my trading Journal. Stochastics are the best oscillator indicator available to time your trade & helps you in getting a good entry and when traded with the combination of MA's it works even better.

[zahid4x]

Hi! Traders,

Finally, I am prepared to share with you all, my style of trading of creating this new Journal. Hope, that i don't make a make fool of myself..

My Trading Setup :-

1. I trades a combination of 4 Timeframes (M30, H1, H4, Daily, Weekly)
2. Takes Entry from M30, H1, H4 & Daily Timeframes, if there is an entry available.
3. Before taking an entry on a certain timeframe, I always consult the next higher timeframe, to be sure that i am not trading against it.
4. I Use Pivot Points(PP) Daily PP for M30, H1 etc. Weekly PP for H4, Daily etc. & Monthly PP for Weekly timeframe.
5. Besides that to time an entry I use Stoch (11,3,3) & a pair of SMA (3) & (5).


Trading Pair :- GBP/JPY (I will usually monitor 3 Most Volatile Pairs) but for this Journal I have created this separate account in which i will trade only GBP/JPY.


This is how my Chart looks on M30 Timeframe :-




Entry Rules :-

1. I will always open a buy/sell order near the Pivot Point Levels where the current candle has closed above/below the PP Level, in such a way that the open of candle is below the PP level and the close is above the PP level for a buy order & vice-versa for a sell order.

2. The SMA(3) & SMA(5) should be trending strongly up/down for buy/sell order.

3. The Stoch(11,3,3) should be coming out strongly from the 20/30 level for a buy order and from the 70/80 level for a sell order.

4. My SL will be placed 10 pips below/above the low/high of the candle that is described in 1st point.


My Exit Rules:-

1. As, I am very choosy in taking my entry and once i take an entry, i believe it to be accurate so for this reason i expect my trade to take of quickly & give me some quick decent profits. So, here's my Exit Rules :-

a.) The Opened Trade will be kept open for a maximum of next 4 candles.
b.) I will exit my trade if the market moved in a decent profit before the close of the next 4 candles.
c.) I will exit my trade in small profit/small loss/whatever may be the loss after the close of the next 4 candles, if my SL hasn't hit yet. I won't wait for my SL to be get Hit.


My Money & Risk Management :-

As, I crave for Accuracy & Quality than Quantity , so i will have very few trades may be just 1-2 trades a week or sometime no trades at all which depends on the market conditions, what it is willing to offer me. So, as my frequency of trading is low, I likes to risk higher, around 10% of my capital in a single trade.

I will always risk 10% per trade depending upon what capital i have before taking the trade.

My Trading Goals :-

I don't have any specific goals, my only goal is to trade successfully, increase/maintain accuracy, trade with discipline, trade with patience, always trade in the direction of the current trend, because Trend always Wins & Avoid 50% capital drawdown and most importantly work harder to avoid Margin Call.


P.S :- I am using 10% risk per trade because my capital is small, in future i will reduce my risk to 5% or even 3% or 2% as i build a bigger & bigger capital.


So, Please wish me, that i am always in my senses, so that i can execute my trading plan to perfection. And, I have uploaded MyFxbook widget in my signature, of the trading account, in which i will be trading this system & with which i will proceed this Journal.

Will start trading from next Monday, Thanks..

Wow another nice journal for learning lot of things, Welcome bro in the journal section.. i see your trading strategy, its look very nice, but taking 10% risk on per trade are not good option, i think you need to reduce this percentage, i hope from your journal i will learn more ,, best of luck..

[simisola]

Hi! Traders,

Finally, I am prepared to share with you all, my style of trading of creating this new Journal. Hope, that i don't make a make fool of myself..

My Trading Setup :-

1. I trades a combination of 4 Timeframes (M30, H1, H4, Daily, Weekly)
2. Takes Entry from M30, H1, H4 & Daily Timeframes, if there is an entry available.
3. Before taking an entry on a certain timeframe, I always consult the next higher timeframe, to be sure that i am not trading against it.
4. I Use Pivot Points(PP) Daily PP for M30, H1 etc. Weekly PP for H4, Daily etc. & Monthly PP for Weekly timeframe.
5. Besides that to time an entry I use Stoch (11,3,3) & a pair of SMA (3) & (5).


Trading Pair :- GBP/JPY (I will usually monitor 3 Most Volatile Pairs) but for this Journal I have created this separate account in which i will trade only GBP/JPY.


This is how my Chart looks on M30 Timeframe :-




Entry Rules :-

1. I will always open a buy/sell order near the Pivot Point Levels where the current candle has closed above/below the PP Level, in such a way that the open of candle is below the PP level and the close is above the PP level for a buy order & vice-versa for a sell order.

2. The SMA(3) & SMA(5) should be trending strongly up/down for buy/sell order.

3. The Stoch(11,3,3) should be coming out strongly from the 20/30 level for a buy order and from the 70/80 level for a sell order.

4. My SL will be placed 10 pips below/above the low/high of the candle that is described in 1st point.


My Exit Rules:-

1. As, I am very choosy in taking my entry and once i take an entry, i believe it to be accurate so for this reason i expect my trade to take of quickly & give me some quick decent profits. So, here's my Exit Rules :-

a.) The Opened Trade will be kept open for a maximum of next 4 candles.
b.) I will exit my trade if the market moved in a decent profit before the close of the next 4 candles.
c.) I will exit my trade in small profit/small loss/whatever may be the loss after the close of the next 4 candles, if my SL hasn't hit yet. I won't wait for my SL to be get Hit.


My Money & Risk Management :-

As, I crave for Accuracy & Quality than Quantity , so i will have very few trades may be just 1-2 trades a week or sometime no trades at all which depends on the market conditions, what it is willing to offer me. So, as my frequency of trading is low, I likes to risk higher, around 10% of my capital in a single trade.

I will always risk 10% per trade depending upon what capital i have before taking the trade.

My Trading Goals :-

I don't have any specific goals, my only goal is to trade successfully, increase/maintain accuracy, trade with discipline, trade with patience, always trade in the direction of the current trend, because Trend always Wins & Avoid 50% capital drawdown and most importantly work harder to avoid Margin Call.


P.S :- I am using 10% risk per trade because my capital is small, in future i will reduce my risk to 5% or even 3% or 2% as i build a bigger & bigger capital.


So, Please wish me, that i am always in my senses, so that i can execute my trading plan to perfection. And, I have uploaded MyFxbook widget in my signature, of the trading account, in which i will be trading this system & with which i will proceed this Journal.

Will start trading from next Monday, Thanks..

Welcome to the journal section mate, I see that the indicator you use is moving averages, they are my favourite actually and I hope I will be able to learn one or two things from what you have to offer, I wish you a fruitful journey with this journal.i am not so used to stochastic.

[Alexander Tatsumaki]

Stoch (11,3,3)

is that from the infamous "non-lagg" macd? i recall the numbers..

2. The SMA(3) & SMA(5) should be trending strongly up/down for buy/sell order.

compare these to the kijun/tenkan of ichimoku for a more adaptive type of sma. take my word for it, try it out!


also, i think most here need a more simple and descriptive variant of the entry rules. preferably with pictures.

[MartyFish]

is that from the infamous "non-lagg" macd? i recall the numbers..

I am just using the default setting nothing more.

compare these to the kijun/tenkan of ichimoku for a more adaptive type of sma. take my word for it, try it out!

For now, I will be using SMA 3 & 5 because i am using it for years now and knows them quite well and they does the job for me, as for ichimoku, it will take me another few years to know it's true potential & to master them.

also, i think most here need a more simple and descriptive variant of the entry rules. preferably with pictures.

yes, this is just a short, neat description i tried to give regarding my trading system & method, further on, as the Journal progresses, i will give pictures of how & why & what made me to take the trade in a live market..

Because, it's easy to explain and give reasons for your entry after the market has been moved. And, it's easy to tell after the market movement, that according to my system, you should have entered here and should have exited here and thus, in this way they cheat & exploits their readers.

Thus, I didn't wanted to do that, because of which i didn't gave any pictures explaining my entries & exit.

I will do that during a live market, so that i remain true to my readers, thanks for asking this question..

[Alexander Tatsumaki]

I am just using the default setting nothing more.

my bad.. i suppose it's that indicator. i use the full stoch defaults, if i do.

SMA 3 & 5 because i am using it for years now and knows them quite well and they does the job for me, as for ichimoku, it will take me another few years to know it's true potential & to master them.

that may be true. but if you put that on a chart, you can see what i mean. the ichimoku lines are more adapted to price. maybe you like your smothed sma's but hey.. who knows!

[fembizz]

is that from the infamous "non-lagg" macd? i recall the numbers..





compare these to the kijun/tenkan of ichimoku for a more adaptive type of sma. take my word for it, try it out!


also, i think most here need a more simple and descriptive variant of the entry rules. preferably with pictures.

This is a candid piece of advice for a fellow trader when the aim of the purpose is to assist to see better opportunities but the simple truth I have learnt in many years of trading the market is that no theory or method lasts forever, I believe he will do better for upholding thorough discipline and patience in carrying out his trading activities. One love mates.

[dzin4aans]

MartyFish, WARM welcome to MT5 Forum and trading journal section I am so happy that new members are not afraid and directly come here and make a trading journal, great choice MartyFish
I see you like to work with GBP/JPY, thats amazing and I wish you all the best, profitable trades and green pips. Ride that dragon and control it perfectly