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Thread: bidyut's - Trading journal

  1. #1 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Default bidyut's - Trading journal

    Introduction: This is my first trading journal in mt5 forum and it is in a demo account. I致e opened a demo account with 500 USD balance. The main purpose of opening this demo account is only for making a trading journal in mt5 forum. Long time back our respected moderator dzin4aans had encouraged me to open a trading journal. But due to some unforeseen reasons I was unable to give attention in this regard. After looking at many trading journals available in this section I致e got some positive energy and a lot of good motivation to open my own trading journal. Now I think it is the right time to open a trading journal.

    Main motive of opening a trading journal: First of all I want to improve my trading by sharing my own trading system. By opening a trading journal here I would definitely get an opportunity to interact with other good traders. They can suggest, guide me for opting a better trading system. This is one of the best ways to engage myself in improving my existing trading strategy.

    Why Demo Account: This is my first trading journal in mt5 forum. Still I consider myself as a leraner and I want to improve my trading and it is only possible through demo account. Second reason is that I want to open a separate account (real trading account) for trding journal. But at this moment I知 not fully prepared myself (financially) to open a real account for this purpose. In other hand I don稚 want to wait for long to start a trading journal. So my main motive here would be to engage myself in a good discussion where we can share knowledge and learn everything which is required to be a good trader.
    In future I would definitely go for a trading journal where I can show real profit in real account. Once I get ready for that I would definitely inform you all through this journal or through my signature.

    My strategy:

    Support & Resistance: From the very beginning I am trying to trade on support and resistance levels. So my main focus would be to see support and resistance levels of a particular pair on a daily basis before opening any order. I値l try to open orders by looking at support and resistance levels. Most probably my buy orders would be above support levels and sell would be below resistance. In addition I値l try to take decisions of opening any order by looking at price action.

    Price Action: It is important to watch in which direction a particular pair is moving where we池e going to trade. In simple words Price action gives us an idea where the price is moving. When I see 3 to 4 candles formed an upward trend in other words when few bull candles form an uptrend I値l go for a buy order. In opposite if I see few bear candles lined up in a row to form a downward trend, I値l go for sell order. So here I would go for trading on any pair by following price action.

    Chart Type: I would like to trade in a clearly visible chart and I consider candle stick chart as a best option for me. I do not use too much indicators. It値l consists of only support and resistance levels.
    Time Frame: I prefer to see 1 hr, 4 hours, daily time frames to decide where the price is moving or to predict the actual trend I will go for these time frames. To open any order or to check entry point I値l go for only 1 hour chart.

    News Events: As we know fundamental or economical news are very important to watch while taking any trading decisions. I値l keep an eye on day to day news events to trade. The best way to watch any types of news events is through economic calendar. Most of the movements take place in any particular pair due to news releases. Even technical trader can稚 ignore the importance of fundamental news or any economic data releases (e.g. NFP) etc. Sometimes I would stop trading during high impact news. In other words I値l be very careful during news events and try to avoid trading in case there are no clear movements.

    Lot Size: I would go for 0.10 LOT size (per order) at the very beginning. I may go for many orders at a time but not more than 1 LOT in total. For example, 10 orders with 0.10 lot size orders. Sometimes I may go for averaging my trades by taking additional lot size orders. Gradually I will try to increase the lot size orders with growing account balance.

    Target: Anywhere from 10 to 100 pips. I can decide only after looking at the levels. Sometimes I may not give any target and close all orders manually.

    Stop Loss: I値l try to put a stop loss in some trading positions but not in all trading positions. Again it値l depend on the levels and also in the movement of a particular pair. In case I put stop loss in any pair it値l be around 50 pips.

    Long term or short term: My goal would be to take profit from every trade in a short term period. I prefer short term trades because it is easy for me to handle. In case I see slow movements in any trade I値l keep the order for long hours and definitely wait for the price to trigger the target ( if I put TP).

    Trading Pairs: I would like to trade on major pairs (EURUSD, GBPUSD etc.). Also I would go for high volatility pairs for example, GBPNZD, GBPJPY etc. Sometimes I will try to trade in Gold and Silver if I get good confirmation.

    Risk-Reward Factor: As it is not a contest account I値l try to go slowly. I believe in steady growth and not in sudden growth as far as forex trading is concerned. I would only go for 5% to 10% risk, and not more than that. Similarly, I値l try to make decent profit from every trade. If I see it is worth to wait for a particular trading position then I値l wait for it to get more profit out of it. For any trader to sustain in the market is more important than anything else, so I will try to avoid any unnecessary risk. Sometimes I would go for cut losses in the form of stop loss or by closing manually. Once we learn how to manage risk we値l automatically able to grow our trading account to a satisfactory level.

    To my fellow members: I hope there is no doubt about my trading plan. I do not want to complecate things, so I値l try to elaborate every trade with clarity. I知 ready to answer you if you致e any questions regarding my trades or anything related to my trading journal. I値l be grateful if we can stick to the topic and not talk about anything off topic in this section. Your good suggestions are always welcome. Thanks to everybody for visiting here. Lets start together!
    Last edited by bidyut; 15-11-2017 at 01:20 PM.


  2. #2751 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Update on 21st July 2021 (Update: 60)

    Hello everybody, Welcome to my trading journal. Last week, I got a margin call into my bonus trading account. I've already updated about it in my previous post. Currently, I'm trading in the demo trading account. Let's discuss all the trading activities in detail.

    Update about Yesterday's closed positions

    Open Time: 19th July 2021: EURUSD

    Name: EURUSD-Buy-Position.PNG Views: 346 Size: 93.3 KB

    On 19th July 2021, I opened one buy position in the EURUSD currency pair. The volume was about one standard lot. The order details are as follows:

    Order Details

    Order no. 440261790
    Open Time: 2021.07.19 12:42:35
    Type: Buy
    Size: 1 Lot
    Symbol: EURUSD
    Open Price: 1.1782
    S/L: 1.1752
    T/P: 1.2251
    Close Time: 2021.07.19 19:58:15
    Current Status: Manually closed at 1.1799
    Profit Made: $17 + (Swap $0) = $17

    Reason for trades: The day before yesterday, the price of the EURUSD currency pair was showing some good movements. I had decided to open a buy order by looking at the 1-hour chart. The price action had shown good upside momentum in the hourly chart. However, in the 4 hours chart also there was a strong upside movement. I had opened the buy position when a bull candle formed in the 4 hours chart. That confirmed a reversal in the pair.

    Entry and Exit levels: The open price level was at 1.1782. I placed the stop loss at 1.1752, i.e., 30 pips away from the opened price level. On the other hand, the take profit level was at 1.2251. The take profit level was about 469 pips away from the open price level. I placed the take profit level by looking at the Weekly chart. However, I've closed the position at 1.1799 for a small profit.

    Reason for closing the position manually: At first, the price of the EURUSD currency pair was moving as per my expectations. But later the price was falling towards down. I've decided to close the position at a small profit.

    Yesterday's 1st order in EURUSD

    Name: EURUSD-Sell-Position.PNG Views: 335 Size: 92.4 KB

    Yesterday, I opened another position in the EURUSD currency pair. It was a sell position with one standard lot. The order details are as follows:

    Order Details

    Order no. 440350590
    Open Time: 2021.07.20 08:17:46
    Type: Sell
    Size: 1 Lot
    Symbol: EURUSD
    Open Price: 1.1785
    S/L: 1.1814
    T/P: 1.1720
    Close Time: 2021.07.20 17:25:47
    Current Status: Manually closed at 1.1779
    Profit Made: $6 + (Swap $0) = $6

    Reason for trades: Yesterday, I decided to open a sell position in the EURUSD currency pair. In the 1-hour chart, the price action formed lower high and lower low levels. In such conditions, we can open sell positions at lower high levels. However, I opened the sell position after getting good confirmation. There was bearish pressure on the pair. The price has been moving down on a day-to-day basis.

    Entry and Exit levels: I've opened the sell position in the EURUSD pair at 1.1785. I've put the stop loss at 1.1814, i.e., 29 pips above the entry price level. However, the take profit was at 1.1720, i.e., 65 pips below the open price level. Later I closed the position at 1.1779 to book a small profit.

    Reason for closing the position manually: Yesterday, the price of the EURUSD currency pair was moving within a limited range. The price was unable to move in a single direction. As a result, I've decided to close the position with a small profit.

    Update about currently active positions

    Yesterday's 2nd order in USDJPY

    Name: USDJPY-Sell-Position.PNG Views: 331 Size: 96.0 KB

    Yesterday, I opened the 2nd position in the USDJPY currency pair. I've opened the sell position with one standard lot. At the moment, the sell position is floating in the negative zone. The order details are as follows:

    Order Details

    Order no. 440382478
    Open Time: 2021.07.20 17:29:44
    Type: Sell
    Size: 1 Lot
    Symbol: USDJPY
    Open Price: 109.74
    S/L: 110.24
    T/P: 108.74
    Current Status: In floating loss.

    Reason for trades: I've opened the sell position in the USDJPY currency pair by looking at the daily time frame. In the daily time frame, the price action formed lower low and lower high levels. I've decided to open a sell position in the pair when the price has reached the lower high level.

    Entry and Exit levels: I've opened the sell position in the pair at the 109.74 price level. The take profit is at 108.74, and the stop loss is at 110.24. The take profit is 100 pips away from the entry-level. However, I may close the position manually, depending on the market condition.

    Yesterday's 3rd order in USDCAD

    Name: USDCAD-Sell-Position.PNG Views: 535 Size: 91.5 KB

    Yesterday, I opened the 3rd position in the USDCAD currency pair. I had opened the sell position with one standard lot. The order details are as follows:

    Order Details

    Order no. 440388069
    Open Time: 2021.07.20 19:08:34
    Type: Sell
    Size: 1 Lot
    Symbol: USDCAD
    Open Price: 1.2726
    S/L: 1.2776
    T/P: 1.2626
    Current Status: In profit.

    Reason for trades: Yesterday, the USDCAD currency pair was showing some downward movement at the resistance level. I've opened the sell position by looking at different time frames. In the 1-hour chart, there was a bearish slope. In the 4 hours chart also, I've seen a bearish candle. Before coming down from the resistance level, the price was hovering within a limited range. The price was unable to cross the previous day's high level.

    Entry and Exit levels: I've opened the sell position in the USDCAD currency pair at the 1.2726 price level. I've put the stop loss at 1.2776, and the take profit was at the 1.2626 price level. At the moment, the price is going as per my expectations. However, I may close the position if it won't reach the target level.

    Approved

  3. 16 users say Thank You to bidyut for this useful post.

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  4. #2752 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Update on 23rd July 2021 (Update: 61)

    Hello everybody, Welcome to my trading journal. Yesterday my performance was not up to the mark. I was doing some trades in the demo trading account. Later, I received the Weekly posting bonus into my bonus trading account. I decided to trade with that amount to make some profit. But I failed to make good consistency and lost the amount. In simple words, I got a margin call.

    Bonus Update

    Yesterday, I received the 28th Week's forum posting bonus. The amount was about $20.31. Unfortunately, I've lost the bonus amount due to some wrong trades. At first, I was able to make a $20 profit from the amount. But later I've lost the whole account.

    Name: Bonus-For-Posting-22-July-2021.PNG Views: 309 Size: 5.6 KB

    Update about Yesterday's closed positions (In Demo Trading Account)

    The day before yesterday, I updated about a few closed positions in the demo trading account. I've also updated about two active positions in my previous post. Out of two active positions, I closed one position manually to book profit. On the other hand, the other position hit the stop loss level. Later, I opened more positions in different currency pairs. I've got mixed results from all the positions. Currency I've no open positions in the demo account.

    Name: Closed-Positions.PNG Views: 280 Size: 23.4 KB

    Update about Yesterday's closed positions (In Bonus Trading Account)

    Yesterday's orders in GBPUSD

    Name: GBPUSD-Sell-Positions.PNG Views: 289 Size: 103.5 KB

    Yesterday, I opened a few sell positions in the GBPUSD currency pair. The order details are as follows:

    Order Details

    Order no. 659605127
    Open Time: 2021.07.22 17:24:47
    Type: Sell
    Size: 1 Lot
    Symbol: GBPUSD
    Open Price: 1.3755
    S/L: Not Set
    T/P: Not Set
    Close Time: 2021.07.22 17:45:42
    Current Status: Manually closed at 1.3754
    Profit Made: $1 + (Swap $0) = $1

    Order no. 659608660
    Open Time: 2021.07.22 18:09:20
    Type: Sell
    Size: 0.10 Lot
    Symbol: GBPUSD
    Open Price: 1.3752
    S/L: Not Set
    T/P: 1.3602
    Close Time: 2021.07.22 19:15:28
    Current Status: Manually closed at 1.3746
    Profit Made: $0.60 + (Swap $0) = $0.60

    Order no. 659616016
    Open Time: 2021.07.22 19:22:03
    Type: Sell
    Size: 1 Lot
    Symbol: GBPUSD
    Open Price: 1.3740
    S/L: Not Set
    T/P: Not Set
    Close Time: 2021.07.22 20:01:36
    Current Status: Manually closed at 1.3769
    Total Loss: -$29 + (Swap $0) = -$29

    Order no. 659618164
    Open Time: 2021.07.22 19:43:52
    Type: Sell
    Size: 0.50 Lot
    Symbol: GBPUSD
    Open Price: 1.3755
    S/L: Not Set
    T/P: Not Set
    Close Time: 2021.07.22 20:01:36
    Current Status: Manually closed at 1.3769
    Total Loss: -$7 + (Swap $0) = -$7

    Order no. 659620859
    Open Time: 2021.07.22 20:23:51
    Type: Sell
    Size: 0.30 Lot
    Symbol: GBPUSD
    Open Price: 1.3762
    S/L: Not Set
    T/P: 1.3596
    Close Time: 2021.07.22 21:13:45
    Current Status: Stopped out at 1.3778
    Total Loss: -$4.80 + (Swap $0) = -$4.80

    Reason for trades: Yesterday, I opened a few sell positions in the GBPUSD currency pair. During the New York market session, the GBPUSD currency pair was showing bearish momentum. I've decided to open sell positions into the pair. At first, I opened one sell position with 1 lot size volume. However, I've closed the sell position with a small profit. Later, I saw good bearish momentum in the pair and decided to open more short positions.

    Entry and Exit levels: Yesterday, I opened many sell positions in the GBPUSD currency pair at different price levels. At first, I opened a sell position at the 1.3755 price level. However, I've not placed any stop loss or take profit into that position. Later, due to slow market movements, I've decided to close the position at the 1.3754 price level.

    I opened the second position at 1.3752 with a 0.10 lot size volume. The take profit level was at 1.3602. However, I had not set any stop-loss into the position. Later, I closed the position manually at 1.3746 price level to book about $.60 profit.

    After closing the second position with a small profit, I've seen another opportunity to short the pair. I've opened the third sell position in the pair at the 1.3740 price level. The volume was about 1 lot. However, the price didn't go as per my expectations. I've decided to open another position with a 0.50 lot size to average the loss amount. But later I closed both positions at a big loss.

    Finally, I opened one sell position in the GBPUSD currency pair with a 0.30 lot size. At that time, my equity was about $5. I was trying to recover the loss amount. Unfortunately, I got stopped out.

    Yesterday's orders in AUDUSD

    Name: AUDUSD-Sell-Positions.PNG Views: 283 Size: 98.8 KB

    Yesterday, I opened a few positions in the AUDUSD currency pair. The average lot size was about 0.10. The order details are as follows:

    Order no. 659606683
    Open Time: 2021.07.22 17:47:18
    Type: Sell
    Size: 0.10 Lot
    Symbol: AUDUSD
    Open Price: 0.7369
    S/L: Not Set
    T/P: 0.7309
    Close Time: 2021.07.22 19:15:32
    Current Status: Manually closed at 0.7367
    Profit Made: $0.20 + (Swap $0) = $0.20

    Order no. 659606818
    Open Time: 2021.07.22 17:49:25
    Type: Sell limit
    Size: 0.10 Lot
    Symbol: AUDUSD
    Open Price: 0.7379
    S/L: Not Set
    T/P: Not Set
    Close Time: 2021.07.22 17:51:14
    Current Status: Cancelled

    Order no. 659607459
    Open Time: 2021.07.22 17:56:21
    Type: Sell
    Size: 0.10 Lot
    Symbol: AUDUSD
    Open Price: 0.7379
    S/L: Not Set
    T/P: 0.7309
    Close Time: 2021.07.22 19:15:29
    Current Status: Manually closed at 0.7367
    Profit Made: $1.20 + (Swap $0) = $1.20

    Order no. 659607610
    Open Time: 2021.07.22 17:58:22
    Type: Sell
    Size: 0.10 Lot
    Symbol: AUDUSD
    Open Price: 0.7384
    S/L: Not Set
    T/P: 0.7309
    Close Time: 2021.07.22 18:06:59
    Current Status: Manually closed at 0.7381
    Profit Made: $0.30 + (Swap $0) = $0.30

    Reason for trades: Yesterday, I opened a few sell positions in the AUDUSD currency pair and was able to book some profit. In the daily chart, the price was moving towards up. However, in the lower time frame, I've seen some downward movement.

    Entry and Exit levels: At first, I opened a sell position at 0.7369 price level with 0.10 lot size. Later, I've opened more positions in the pair at different price levels. I've not set any stop-loss into the positions. However, the take profit level was at 0.7309 price level for all positions. However, I had closed all positions manually to book profit.

    Yesterday's orders in EURJPY

    Name: EURJPY-Sell-Positions.PNG Views: 288 Size: 100.9 KB

    Yesterday, I opened a few sell positions in the EURJPY currency pair. In total, I opened 4 positions in the pair. The volume of the first position was about 0.10. However, the average volume of other positions was one standard lot. The order details are as follows:

    Order no. 659607501
    Open Time: 2021.07.22 17:57:11
    Type: Sell
    Size: 0.10 Lot
    Symbol: EURJPY
    Open Price: 129.88
    S/L: Not Set
    T/P: 128.77
    Close Time: 2021.07.22 18:07:02
    Current Status: Manually closed at 129.81
    Profit Made: $0.63 + (Swap $0) = $0.63

    Order no. 659607678
    Open Time: 2021.07.22 17:59:56
    Type: Sell
    Size: 1 Lot
    Symbol: EURJPY
    Open Price: 129.85
    S/L: Not Set
    T/P: Not Set
    Close Time: 2021.07.22 18:06:45
    Current Status: Manually closed at 129.82
    Profit Made: $2.72 + (Swap $0) = $2.72

    Order no. 659609510
    Open Time: 2021.07.22 18:18:04
    Type: Sell
    Size: 1 Lot
    Symbol: EURJPY
    Open Price: 129.70
    S/L: 129.69
    T/P: Not Set
    Close Time: 2021.07.22 19:15:28
    Current Status: Manually closed at 129.55
    Profit Made: $13.62 + (Swap $0) = $13.62

    Order no. 659616173
    Open Time: 2021.07.22 19:23:41
    Type: Sell
    Size: 1 Lot
    Symbol: EURJPY
    Open Price: 129.51
    S/L: Not Set
    T/P: Not Set
    Close Time: 2021.07.22 19:40:21
    Current Status: Manually closed at 129.51
    Profit Made: $0 + (Swap $0) = $0

    Reason for trades: Yesterday, I opened a few sell positions in the EURJPY currency pair at different price levels. There was a strong bearish momentum in the 4 hours chart. I found a good opportunity to open a short position in the pair. At first, I opened one sell position with 0.10 lot size volume. Later, I opened three more positions with 1 lot size volume. However, I opened all positions at different times. I've been able to make a good profit from all positions except one position. I closed the last position manually at $0 profit to avoid unnecessary losses.

    Entry and Exit levels: The price level of the first position was about 129.88. I've opened the sell position with 0.10 lot size volume. The take profit level was at 128.77. However, I've not set any stop-loss into the position. Later, I had closed the position manually to book some profit.

    The second position was also a sell position. The volume was about 1 standard lot. The open price level was 129.85. I had not set any take profit or stop loss into the position. Later, I closed the position at 129.82 to book some profit. I've made about $2.72 from the position.

    I've opened the third sell position in the pair. From that position, I've made about $13.62 profit. The open price level was 129.70. When the price was falling, I set the stop loss into 129.69 price level to lock the profit. However, I had not set any profit target for the position. Later, I closed the position manually at the 129.55 price level.

    Approved

  5. 18 users say Thank You to bidyut for this useful post.

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  6. #2753 You can automatically minimize the read posts in your account in the 'Forum Settings'
    I just can't quit pips!
    I am:
     
    bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut's Avatar
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    Update on 26th July 2021 (Update: 62)

    Hello everybody, Welcome to my trading journal. Currently, I'm trading in my demo trading account. Last week, I opened a sell position in the EURJPY currency pair. At the moment, the sell position is showing some positive pips. Today, I've opened another sell position in the USDJPY currency pair. Let's discuss all active sell positions in detail.

    Update about active positions (In Demo Account)

    EURJPY

    Name: EURJPY-Sell-Position.PNG Views: 438 Size: 87.2 KB

    On 23rd July 2021, I opened a sell position in the EURJPY currency pair. The volume was about one standard lot. At the moment the price is going down as per my expectations. The order details are as follows:

    Order Details

    Order no. 440507686
    Open Time: 2021.07.23 12:04:14
    Type: Sell
    Size: 1 Lot
    Symbol: EURJPY
    Open Price: 130.02
    S/L: 130.52
    T/P: 128.91
    Current Status: In profit.

    Reason for trades: Last Friday, the price of the EURJPY currency pair was strongly going down. In the higher time frames, the price was bearish. The currency pair was extending downside for the fourth consecutive week. However, in the 4 hours chart, the price action was forming lower high and lower low levels. I decided to open a sell position at lower high levels.

    Entry and Exit levels: Last Friday, I opened the sell position in the pair at the 130.02 price level. The take profit was at 130.52, i.e., 50 pips away from the open price level. On the other hand, the stop loss was at 128.91, i.e., about 111 pips below the opened price level. In case the price doesn't reach the target price level, I may close the position manually.

    USDJPY

    Name: USDJPY-Sell-Position.PNG Views: 228 Size: 86.0 KB

    Today, I've opened a sell position in the USDJPY currency pair. The volume is about one standard lot. The order details are as follows:

    Order Details

    Order no. 440544424
    Open Time: 2021.07.26 08:05:25
    Type: Sell
    Size: 1 Lot
    Symbol: USDJPY
    Open Price: 110.34
    S/L: 110.74
    T/P: 109.34
    Current Status: In profit.

    Reason for trades: I've decided to open a sell position in the pair by looking at different time frames. The Yen seems to be strong across the board. In the 4 hours chart, the price has already started to come down. We can identify the selling pressure in the daily and weekly charts as well. At the current level, there is a scope of downfall.

    Entry and Exit levels: I've opened the position at the 110.34 price level. The stop loss is at 110.74, and the take profit level is at 109.34. However, I may close the position if the price won't go as per my expectations.

    Approved

  7. #2754 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Update on 27th July 2021 (Update: 63)

    Hello everybody, Welcome to my trading journal. Yesterday, I opened one sell position in the USDJPY currency pair. At the moment, the price is moving as per my expectations. However, last week, I opened one sell position in the EURJPY currency pair. On the other hand, today, I opened one sell position in the EURUSD currency pair. Let's discuss all active trading positions in detail.

    Update about all active positions (In Demo Account)

    EURJPY

    Name: EURJPY-Sell-Position.PNG Views: 218 Size: 89.1 KB

    Last week, I opened the sell position in the EURJPY currency pair. The open price level was at 130.02, and the volume was one standard lot. At the moment, the sell position is moving down. I'm expecting that the price will go further down to show some good profit. I'll try to hold the sell position until it hits the target level. However, I'm ready to close the position manually in profit.

    Yesterday, the pair was moving in both directions. At the early trading hours, the price of EURJPY was moving as per my expectations. The price dropped up to 129.65 price level, i.e., about 34 pips below the open price level. Later, the price reversed back, and my position was in huge floating loss. I didn't close the sell position when it was in good profit. Currently, the pair is trading below yesterday's lowest level. I can expect that the price will fall towards my target level.

    Order Details

    Order no. 440507686
    Open Time: 2021.07.23 12:04:14
    Type: Sell
    Size: 1 Lot
    Symbol: EURJPY
    Open Price: 130.02
    S/L: 130.52
    T/P: 128.91
    Current Status: In profit.

    USDJPY

    Name: USDJPY-Sell-Position.PNG Views: 187 Size: 90.8 KB

    Yesterday, I opened a sell position in the USDJPY currency pair. I opened the sell position at the 110.34 price level. At the moment, the sell position is moving on the positive side. However, the movement is slow, and the pair is trading in a narrow range.

    The momentum is strongly bearish in the lower and the higher time frames. In the daily chart, weakness can be visible for the 2nd straight session. On the other hand, in the 4 hours chart, we can see downward momentum. So here I'm very confident that the price will go down to hit the take profit level.

    Order Details

    Order no. 440544424
    Open Time: 2021.07.26 08:05:25
    Type: Sell
    Size: 1 Lot
    Symbol: USDJPY
    Open Price: 110.34
    S/L: 110.74
    T/P: 109.34
    Current Status: In profit.

    EURUSD

    Name: EURUSD-Sell-Position.PNG Views: 182 Size: 94.3 KB

    Today, I've opened a sell position in the EURUSD currency pair. I've opened the sell position with 0.10 lot size volume. The order details are as follows:

    Order Details

    Order no. 440587049
    Open Time: 2021.07.27 07:15:40
    Type: Sell
    Size: 0.10 Lot
    Symbol: EURUSD
    Open Price: 1.1803
    S/L: 1.1828
    T/P: 1.1768
    Current Status: In profit.

    Reason for trades: I've opened the sell position in the pair by looking at the 4 hours chart. We can find bearish pressure in the 4 hours chart. However, yesterday the price was moving up. It seems that the upside momentum stopped due to weakness in the currency pair. If we look at the Weekly chart, then we'll find downward momentum. The price has been trending towards down for the 5th consecutive week. In the short term, we may see some mixed movements. The overall bias is bearish.

    Entry and Exit levels: I've opened the sell position at the 1.1803 price level. I placed the target at 1.1768, i.e., 35 pips away from the open price level. The stop loss is at 1.1828, i.e., 25 pips away from the entry-level. The target is only 35 pips due to limited movement from the pair. I may close the position in profit if it doesn't move as per my expectations.

    Approved

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  9. #2755 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Update on 28th July 2021 (Update: 64)

    Hello everybody, Welcome to my trading journal. As I mentioned earlier, I'm currently trading in the demo account. Yesterday I closed all active positions for a good profit. Today, I opened three sell positions in three different currency pairs. Let's discuss all closed and currently active trading positions in detail.

    Update about all closed positions (In Demo Account)

    EURJPY

    Name: Yesterday-Closed-Position-EURJPY.png Views: 213 Size: 22.1 KB

    Last week, on 23rd July 2021, I opened a sell position in the EURJPY currency pair. I opened the sell position at the 130.02 price level. The volume was about one standard lot. Yesterday, I closed the sell position manually at 129.66 to book some profit. The net profit earned from the sell position is $32.21. The order details are as follows:

    Order Details

    Order no. 440507686
    Open Time: 2021.07.23 12:04:14
    Type: Sell
    Size: 1 Lot
    Symbol: EURJPY
    Open Price: 130.02
    S/L: 130.52
    T/P: 128.91
    Close Time: 2021.07.27 11:52:27
    Current Status: Manually closed at 129.66
    Profit Made: $32.69 + (Swap -$0.48) = $32.21

    Reason for closing the position manually: The only reason behind closing the sell position was to book profit. When the price dropped around the near-term support area, I decided to close the sell position to book profit.

    EURUSD

    The other sell position was in the EURUSD currency pair. I closed the sell position manually at the 1.1780 price level, i.e., about 23 pips. I earned about $2.30 from the short trading position. The order details are as follows:

    Order Details

    Order no. 440587049
    Open Time: 2021.07.27 07:15:40
    Type: Sell
    Size: 0.10 Lot
    Symbol: EURUSD
    Open Price: 1.1803
    S/L: 1.1828
    T/P: 1.1768
    Close Time: 2021.07.27 11:52:30
    Current Status: Manually closed at 1.1780
    Profit Made: $2.30 + (Swap $0) = $2.30

    Reason for closing the position manually: Yesterday, the price of the EURUSD pair was showing good bearish momentum. The price dropped up to the 1.1770 price level. Unfortunately, the price didn't reach the target profit level. It had missed the target level by only two pips. So I decided to close the position manually to book profit. Here I would like to mention that I set the target for 35 pips. On the other hand, I closed the sell position with 23 pips profit.

    USDJPY

    Name: Yesterday-Closed-Position-USDJPY.PNG Views: 152 Size: 101.7 KB

    The 3rd sell position was in the USDJPY currency pair. I closed the sell position manually at 110.34. I've earned about $16.12 after the swap deduction. The order details are as follows:

    Order Details

    Order no. 440544424
    Open Time: 2021.07.26 08:05:25
    Type: Sell
    Size: 1 Lot
    Symbol: USDJPY
    Open Price: 110.34
    S/L: 110.74
    T/P: 109.34
    Close Time: 2021.07.27 11:52:29
    Current Status: Manually closed at 110.14
    Profit Made: $18.16 + (Swap -$2.04) = $16.12

    Reason for closing the position manually: When the overall profit was showing more than $50, I decided to close all trading positions, including this particular position.

    Update about all active positions (In Demo Account)

    GBPUSD

    Name: GBPUSD-Sell-Position.PNG Views: 150 Size: 91.9 KB

    Today, I opened a sell position in the GBPUSD currency pair. I opened the sell position at 1.3871 with one standard lot. The order details are as follows:

    Order Details

    Order no. 440680460
    Open Time: 2021.07.28 07:59:01
    Type: Sell
    Size: 1 Lot
    Symbol: GBPUSD
    Open Price: 1.3871
    S/L: 1.3921
    T/P: 1.3771
    Current Status: In floating loss.

    Reason for trades: The GBPUSD currency pair was hovering around a strong resistance level. In the 4 hours chart, I observed downward movement. I decided to open the short position by looking at the price action.

    Entry and Exit levels: I opened the sell position at the 1.3871 price level. The stop loss is at 1.3921, and the take profit is at 1.3771. The 1.3908 is the highest level since 12th July 2021. Here my stop loss is above the mentioned level, i.e., above 1.3908. I can expect that the position won't hit the stop loss as long as the price stays below the 1.3908 price level. My profit target is 100 pips away from the open price level. If the price doesn't move as per my expectations, I may close the position manually to book profit.

    EURUSD

    Name: EURUSD-Sell-Position.PNG Views: 150 Size: 95.0 KB

    The second sell position that I opened today was in the EURUSD currency pair. I opened the sell position at the 1.1822 price level with one standard lot. The order details are as follows:

    Order Details

    Order no. 440698317
    Open Time: 2021.07.28 12:07:50
    Type: Sell
    Size: 0.10 Lot
    Symbol: EURUSD
    Open Price: 1.1822
    S/L: 1.1852
    T/P: 1.1771
    Current Status: In profit.

    Reason for trades: The overall trend of the EURUSD pair was bearish. However, in the short term, we've seen upside momentum. Yesterday, the price was strongly going up. When the price started to come down from overbought levels, I opened a sell position. In other words, I decided to short the pair at the highest possible level.

    Entry and Exit levels: I opened the sell position in the pair at the 1.1822 price level. The stop loss is at 1.1852, i.e., around 30 pips away from the open price level. On the other side, the target price level is at 1.1771, i.e., about 51 pips. The 1.1850 is the highest level since 15th July 2021. On the other hand, I placed the stop loss just above the strong resistance level. So here I'm very confident that the price will be able to sustain below the resistance level. I may close the position manually in profit if it doesn't reach the target level.

    EURJPY

    Name: EURJPY-Sell-Position.PNG Views: 152 Size: 91.3 KB

    I opened one more sell position in the EURJPY currency pair. The trading volume is small, i.e., about 0.10 lots. The order details are as follows:

    Order Details

    Order no. 440698343
    Open Time: 2021.07.28 12:08:12
    Type: Sell
    Size: 0.10 Lot
    Symbol: EURJPY
    Open Price: 129.98
    S/L: 130.18
    T/P: 129.65
    Current Status: In floating loss.

    Reason for trades: If we look at the daily chart, then we'll find that the pair has been moving within a limited range. I placed the sell position when the price reached the near-term resistance level. By looking at the 4 hours chart, I decided to open a sell position. With a similar approach, I made a good profit yesterday. Today also, I decided to open a sell position around the near-term resistance area. In the short term, we may see some mixed movements in the pair. But in the long run, the price would go down. So I'm expecting that the price will go down to reach my target level.

    Entry and Exit levels: I opened the sell position at 129.98 price level, with the target of 129.65. The target is only 33 pips away from the open price level. Moreover, the stop loss is at 130.18, i.e., 20 pips away from the opened price level. At early trading hours, the price has been trending down. In the 4 hours chart, we could see strong bearish momentum. However, I had decided to open the sell position when the price was a little up. I can expect that the price will reach the target profit level. If it doesn't move as per my analysis, then I may go for manual closing.

    Approved

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  11. #2756 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Update on 29th July 2021 (Update: 65)

    Hello everybody, Welcome to my trading journal. Yesterday I opened a few trading positions in my demo account. I already updated it in my previous post. Unfortunately, all trading positions hit the stop loss level. Due to FOMC events, the market moved against my trading positions. Today, I opened one sell position in the EURUSD pair. Let's discuss all closed and active trading positions in detail.

    Update about all closed positions (In Demo Account)

    GBPUSD

    Name: GBPUSDH1-Stop-Loss-Hit.PNG Views: 229 Size: 100.2 KB

    Yesterday, I opened a sell position in the GBPUSD currency pair. The volume was about one standard lot. The open price level was at 1.3871. I put the stop loss level at 1.3921, i.e., 50 pips away from the opened price level. Today, at early trading hours, the price had hit the stop loss level. I opened the sell position by looking at the near-term resistance level. However, due to FOMC events, the price hit the stop loss level. Ahead of the high impact news, the price was showing mixed movements. At one point, the price was going below my open price level. But I didn't close the position during that time. The total loss is about $50.87 (including the swap amount). The order details are as follows:

    Order Details

    Order no. 440680460
    Open Time: 2021.07.28 07:59:01
    Type: Sell
    Size: 1 Lot
    Symbol: GBPUSD
    Open Price: 1.3871
    S/L: 1.3921
    T/P: 1.3771
    Close Time: 2021.07.29 05:01:17
    Current Status: Hit stop loss.
    Total Loss: -$50 + (Swap -$0.87) = -$50.87

    EURUSD

    Name: EURUSDH1-Stop-Loss-Hit.png Views: 127 Size: 21.2 KB

    I had another sell position in the EURUSD currency pair. This position also hit the stop loss level. However, I lost only about -$3 due to low risk. Before hitting the stop loss level, the price was moving as per my expectations. But I didn't close the position when it was in good profit. Due to high impact news, the price moved against my trading position. The order details are as follows:

    Order Details

    Order no. 440698317
    Open Time: 2021.07.28 12:07:50
    Type: Sell
    Size: 0.10 Lot
    Symbol: EURUSD
    Open Price: 1.1822
    S/L: 1.1852
    T/P: 1.1771
    Close Time: 2021.07.28 22:59:01
    Current Status: Hit stop loss.
    Total Loss: -$3 + (Swap $0) = -$3

    EURJPY

    Name: EURJPYH1-Stop-Loss-Hit.PNG Views: 130 Size: 98.6 KB

    I had another low-risk trading position in the EURJPY currency pair. Unfortunately, this position also got a stop loss hit. I lost about -$1.81 from the sell position. The order details are as follows:

    Order Details

    Order no. 440698343
    Open Time: 2021.07.28 12:08:12
    Type: Sell
    Size: 0.10 Lot
    Symbol: EURJPY
    Open Price: 129.98
    S/L: 130.18
    T/P: 129.65
    Close Time: 2021.07.28 21:40:38
    Current Status: Hit stop loss.
    Total Loss: -$1.81 + (Swap $0) = -$1.81

    Update about currently active position (In Demo Account)

    EURUSD

    Name: EURUSD-Sell-Position.PNG Views: 129 Size: 91.0 KB

    Today, I opened one sell position in the EURUSD currency pair. The volume is about one standard lot, and the open price level is 1.1854. The order details are as follows:

    Order Details

    Order no. 440773427
    Open Time: 2021.07.28 12:07:50
    Type: Sell
    Size: 1 Lot
    Symbol: EURUSD
    Open Price: 1.1854
    S/L: 1.1884
    T/P: 1.1776
    Current Status: In floating loss.

    Reason for trades: The EURUSD currency pair has been moving up for the 4th straight session. Despite the extreme bullish condition, I'm going for the sell position. We can identify strong resistance in the daily chart. In my view, the bull rally is limited due to the strong resistance level. I've decided to short the position at the highest possible level. We may see some mixed trends during the short term. But in the long-term, the price will fall again from the current price level.

    Name: EURUSDDaily.png Views: 125 Size: 19.1 KB

    Entry and Exit levels: I opened the sell position at the 1.1854 price level. However, I put stop loss at 1.1884, with the target of 1.1776. The stop loss is above the daily swing high level. On the other hand, I placed the target level within the swing low level. In case the price doesn't move as per my expectations, I may go for manual closing.

    Approved

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  13. #2757 You can automatically minimize the read posts in your account in the 'Forum Settings'
    I just can't quit pips!
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    Update on 31st July 2021 (Update: 66)

    Hello everybody, Welcome to my trading journal. Yesterday, I was unable to update my trading journal. I already received the Weekly forum posting bonus and I traded in the bonus trading account. Let痴 discuss everything in detail.

    Bonus Update

    Name: Best-Answers-Contest and Weekly forum posting bonus (29-07-2021).PNG Views: 167 Size: 8.4 KB

    The day before yesterday, I received the Weekly forum posting bonus and the 'Best Answers Contest' prize amount. I received about $12.40 for the 30th Week forum posting bonus. On the other hand, I received $13.80 as a withdrawable amount for the 'Best Answers Contest'.

    Profit Withdrawal

    Name: Payment-Received-30-07-2021.PNG Views: 93 Size: 53.6 KB

    Yesterday, I opened a few trading positions in the bonus trading account. I earned about $36.41 from those trading positions. After fulfilling the profit withdrawal condition, I made a withdrawal request to my Skrill account. I already received the amount within an hour. The total amount I received is about $49.30.

    Update about all closed positions (In Bonus Trading Account)

    EURUSD

    Name: EURUSD-Sell-Positions.PNG Views: 97 Size: 111.1 KB

    Yesterday, I opened three sell positions in the EURUSD currency pair. I opened all short positions at different times. The volume was one standard lot for each sell position. The order details are as follows:

    Order Details

    Order no. 660172586
    Open Time: 2021.07.30 06:49:22
    Type: Sell
    Size: 1 Lot
    Symbol: EURUSD
    Open Price: 1.1879
    S/L: Not Set.
    T/P: Not Set.
    Close Time: 2021.07.30 09:32:45
    Current Status: Manually closed at 1.1879
    Profit Made: $0 + (Swap $0) = $0

    Order no. 660199714
    Open Time: 2021.07.30 13:03:14
    Type: Sell
    Size: 1 Lot
    Symbol: EURUSD
    Open Price: 1.1894
    S/L: Not Set.
    T/P: Not Set.
    Close Time: 2021.07.30 13:27:53
    Current Status: Manually closed at 1.1893
    Profit Made: $1 + (Swap $0) = $1

    Order no. 660206345
    Open Time: 2021.07.30 14:28:32
    Type: Sell
    Size: 1 Lot
    Symbol: EURUSD
    Open Price: 1.1898
    S/L: Not Set.
    T/P: Not Set.
    Close Time: 2021.07.30 14:50:27
    Current Status: Manually closed at 1.1892
    Profit Made: $6 + (Swap $0) = $6

    Reason for trades: Yesterday, at early trading hours, the price of the EURUSD currency pair was showing good upside strength. However, the price started to fall from the overbought levels. In the 4 hours chart, the price action formed a downward slope. I opened a sell position by looking at price action. However, I was unable to make any decent profit from the trading positions.

    Entry and Exit levels: Yesterday, I opened three sell positions in the EURUSD currency pair. However, I opened all the trading positions at different times and price levels. The first sell position I opened at 1.1879 price level. However, I closed the sell position at the same price level. I closed the sell position at 0 pip profit because the price was not moving as per my expectations. On the other hand, I opened the second sell position at the 1.1894 price level. At one point, the sell position was showing a good profit. But the price retraced back, so I decided to close the sell position with a $1 profit. Later, I opened another sell position at 1.1898 and closed it at 1.1892 to book a $6 profit.

    Reason for closing the position manually: Yesterday, I opened three sell positions in the EURUSD currency pair without any stop loss or take profit. Although, I was ready to close the positions manually. I manually closed all the sell positions in a few pips profit because the trend was not moving as per my expectations. To avoid any unnecessary losses, I decided to close all trading positions with small or no profit.

    EURJPY

    Name: EURJPY-Sell-Position.PNG Views: 93 Size: 100.4 KB

    Yesterday, I opened one sell position in the EURJPY currency pair with one standard lot. I made a few pips profit from the sell position. The order details are as follows:

    Order Details

    Order no. 660219241
    Open Time: 2021.07.30 16:55:52
    Type: Sell
    Size: 1 Lot
    Symbol: EURJPY
    Open Price: 130.29
    S/L: Not Set.
    T/P: Not Set.
    Close Time: 2021.07.30 17:22:14
    Current Status: Manually closed at 130.23
    Profit Made: $5.46 + (Swap $0) = $5.46

    Reason for trades: Yesterday, the EURJPY currency pair was trading within a limited range. However, in the early trading hours, the price was showing upside momentum. But later, the price was falling from the near-term resistance level. The downward momentum was visible at lower time frames. I decided to open a sell position by looking at the 1-hour and 4 hours candlestick chart.

    Entry and Exit levels: I opened the sell position at the 130.29 price level. However, I didn't set any stop loss or target in the sell position. Later, I closed the sell position at 130.23 and booked a $5.46 profit.

    Reason for closing the position manually: My initial profit target was 10 to 20 pips from the sell position. I had another trading position which was running in good profit. So I decided to close both trading positions at the same time to book profit.

    GBPUSD

    Name: GBPUSD-Sell-Position.PNG Views: 89 Size: 99.8 KB

    Yesterday, I opened another sell position in the GBPUSD currency pair. The volume was about one standard lot. The order details are as follows:

    Order Details

    Order no. 660219390
    Open Time: 2021.07.30 16:58:38
    Type: Sell
    Size: 1 Lot
    Symbol: GBPUSD
    Open Price: 1.3953
    S/L: Not Set.
    T/P: Not Set.
    Close Time: 2021.07.30 17:22:14
    Current Status: Manually closed at 1.3929
    Profit Made: $24 + (Swap $0) = $24

    Reason for trades: During the New York market session, the US Dollar strengthens across the board. The GBPUSD pair was also showing downside momentum. I decided to sell at the rally and opened a position with one standard lot.

    Entry and Exit levels: I opened the sell position at 1.3953 in the GBPUSD currency pair. However, I didn't place any stop loss or take profit into the sell position. Later, I closed the sell position manually to book profit. I earned about $24 from the trading position.

    Reason for closing the position manually: The only reason behind closing the sell position is to book profit. When I saw 24 pips profit, I decided to close the sell position immediately.

    Approved

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  15. #2758 You can automatically minimize the read posts in your account in the 'Forum Settings'
    I just can't quit pips!
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    Update on 02nd August 2021 (Update: 67)

    Hello mt5 members, Welcome to my trading journal. Currently, I'm trading in the bonus trading account. Today the market is not showing any good momentum. However, I'm able to find one good opportunity in the GBPJPY currency pair. I opened a sell position in the currency pair. Let's discuss this in detail.

    Update about current position

    Today's 1st Order: GBPJPY

    Today, I opened one sell position in the GBPJPY currency pair. The volume is 0.50 lot, and currently, the price is moving as per my expectations. The order details are as follows:

    Order Details

    Order no. 660294573
    Open Time: 2021.08.02 12:57:12
    Type: Sell
    Size: 0.50 Lot
    Symbol: GBPJPY
    Open Price: 152.47
    S/L: Not Set.
    T/P: Not Set.
    Current Status: In profit.

    Reason for trades: The price of the GBPJPY is falling from overbought levels after moving higher in the early trading hours. The Japanese Yen seems to be strong across the board. However, I got an early signal in the GBPJPY currency pair. So I decided to open a sell position in this particular currency pair. If we look at the current setup of the GBPJPY currency pair, then we'll find good sell signals. The price of GBPJPY has been coming down from overbought territory. The price action shows downward momentum in lower and higher time frames.

    Name: GBPJPY-Sell-Position.PNG Views: 57 Size: 94.8 KB

    In the 4 hours chart, the price action formed lower high and lower low levels. In such conditions, we can assume that the price will fall further below with growing time. I decided to open a sell position when the price was forming a big bear candle in the 4 hours chart.

    Name: GBPJPYDaily.png Views: 52 Size: 19.6 KB

    However, we can see a sharp fall in the daily candle also. The currency pair extends weakness for the second straight session. By looking at the daily, 4 hours and 1-hour chart, I decided to open a sell position with 0.50 lot size volume.

    Entry and Exit levels: I opened the sell position at the 152.47 price level. At the moment, I've not placed any stop loss or take profit into the sell position. My first target level is around 151.15. We can find a near-term support area around that level. If the price breaks the first target level, the next target will be at the 149.65 price level. I'm expecting that the price will fall towards my target area. I'll close the position manually once I see good positive pips.

    Approved

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  17. #2759 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Update on 03rd August 2021 (Update: 68)

    Hello everyone, Welcome to my trading journal. Yesterday I traded in a few currency pairs and was able to withdraw the profit. I made a profit of around $22.86 and requested a withdrawal. I received the amount within a few minutes. After receiving the amount into my Skrill account, I traded in the GBPUSD currency pair. Unfortunately, I lost the remaining balance due to a margin call. Let's discuss everything in detail.

    Profit Withdrawal

    Name: Payment-Received-02-08-2021.PNG Views: 30 Size: 51.4 KB

    Yesterday, I traded in a few currency pairs and was able to earn a profit of around $22.86. I made a withdrawal request for $23 and received $22.68 into my Skrill account. It took only a few minutes to receive the amount into my Skrill account.

    Update about all closed positions (In Bonus Trading Account)

    Yesterday's Orders in GBPJPY

    Name: GBPJPY-Sell-Position.PNG Views: 27 Size: 109.1 KB

    Yesterday, I opened two sell positions in the GBPJPY currency pair. I opened the first sell position at 152.47 with 0.50 lot size volume. Later, I closed the sell position manually at 152.25 to book profit. I made around $10.05 from the short trading position. I opened another sell position in the pair with one standard lot. The open price level was 151.97. However, I closed the sell position manually at a loss. The order details are as follows:

    Order Details

    Order no. 660294573
    Open Time: 2021.08.02 12:57:12
    Type: Sell
    Size: 0.50 Lot
    Symbol: GBPJPY
    Open Price: 152.47
    S/L: Not Set.
    T/P: Not Set.
    Close Time: 2021.08.02 12:57:12
    Current Status: Manually closed at 152.25
    Profit Made: $10.05 + (Swap $0) = $10.05

    Order no. 660317237
    Open Time: 2021.08.02 17:16:45
    Type: Sell
    Size: 1 Lot
    Symbol: GBPJPY
    Open Price: 151.97
    S/L: Not Set.
    T/P: Not Set.
    Close Time: 2021.08.02 17:37:21
    Current Status: Manually closed at 151.99
    Total Loss: -$1.83 + (Swap $0) = -$1.83

    Reason for closing the positions manually: Yesterday, I opened the first sell position in the GBPJPY currency pair at 152.47. However, I had not set any stop loss or profit target for the sell position. When I saw some retracement in the hourly candle, I decided to close the position in profit. I closed the sell position manually at 152.25 to book around $10.05 profit. I could wait for more hours to get extra profit. But I didn't want to keep the position open when I saw a reversal in the hourly chart.

    I opened the second position at 151.97. After opening the sell position, I was hesitating to keep the trading position open for long. So I decided to close the sell position at a minimal loss. The loss amount was about -$1.83. To avoid any huge losses, I decided to close the short position manually.

    Yesterday's Order in USDJPY

    Name: USDJPY-Sell-Position.PNG Views: 28 Size: 104.0 KB

    Yesterday, I opened another short position in the USDJPY currency pair. The volume was about one standard lot. However, I closed the sell position with zero profit. The order details are as follows:

    Order Details

    Order no. 660307894
    Open Time: 2021.08.02 15:51:00
    Type: Sell
    Size: 1 Lot
    Symbol: USDJPY
    Open Price: 109.49
    S/L: Not Set.
    T/P: Not Set.
    Close Time: 2021.08.02 16:34:48
    Current Status: Manually closed at 109.49
    Profit Made: $0 + (Swap $0) = $0

    Reason for trades: Yesterday, the price of the USDJPY currency pair was trending down. I decided to open a short trading position by looking at different time frames. In the 4 hours candlestick chart, the price action was forming lower high and lower low levels. In the daily chart also there was a bearish slope. The price has been trending down from an overbought level.

    Entry and Exit levels: I opened the sell position at 109.49. However, I had not set any stop loss or take profit into the sell position. However, I was ready to close the position manually in profit.

    Reason for closing the position manually: Unfortunately, the price was not moving as per my expectations. To avoid any unnecessary losses, I decided to exit from the position with $0 profit. I closed the sell position manually at 109.49, i.e., the same level at which I opened the sell position.

    Yesterday's Order in EURJPY

    Name: EURJPY-Sell-Position.PNG Views: 26 Size: 98.6 KB

    Yesterday, I opened a sell position in the EURJPY currency pair. I opened the sell position at 129.95, with one standard lot. The order details are as follows:

    Order Details

    Order no. 660316362
    Open Time: 2021.08.02 17:08:13
    Type: Sell
    Size: 1 Lot
    Symbol: EURJPY
    Open Price: 129.95
    S/L: Not Set.
    T/P: Not Set.
    Close Time: 2021.08.02 17:37:21
    Current Status: Manually closed at 129.79
    Profit Made: $14.64 + (Swap $0) = $14.64

    Reason for trades: Yesterday, the Japanese Yen was showing good strength across the board. Along with other JPY related pairs, the EURJPY was also showing strong bearish momentum. I decided to open the position when I saw good selling pressure in the currency pair. In the 4 hours chart, the price action forms bearish candles. The near-term support level was 129.99 (Previous days' low level). I opened the sell position below the support level, i.e., at 129.95.

    Entry and Exit levels: I opened the sell position at 129.95 price level. I opened the sell position without any stop loss or profit target. But I was planning to close the short position manually. Later, I closed the sell position at 129.79 to book around $14.64 profit.

    Reason for closing the position manually: The first and foremost reason for closing the sell position was to book profit. I could wait for more hours to make even more positive pips. But I was satisfied with the amount. I booked around $14.64 profit from the sell position.

    Yesterday's Order in GBPUSD

    Name: GBPUSD-Sell-Position.PNG Views: 29 Size: 101.9 KB

    Yesterday, I opened one sell position in the GBPUSD currency pair. After receiving the payment into my Skrill account, I decided to resume trading in my bonus trading account. I was a little late to open a position in the GBPUSD currency pair. However, I was confident that the price would fall further. I opened a sell position at the 1.3879 price level with a 0.50 lot. Unfortunately, I lost the trade due to a margin call. The order details are as follows:

    Order Details

    Order no. 660330250
    Open Time: 2021.08.02 19:18:16
    Type: Sell
    Size: 0.50 Lot
    Symbol: GBPUSD
    Open Price: 1.3879
    S/L: Not Set.
    T/P: Not Set.
    Close Time: 2021.08.03 03:23:08
    Current Status: Stopped out at 1.3904
    Total Loss: -$12.50 + (Swap -$0.15) = -$12.65

    Reason for trades: Yesterday at late hours, I've seen some selling pressure in the pair. I decided to open a sell position by looking at lower and higher time frames. However, the price was not moving as per my expectations. The price reversed from the near-term support area. I decided to keep the position open. Unfortunately, I got stopped out due to low margin and wrong trading decisions as well.

    Entry and Exit levels: I opened the sell position at 1.3879. But I've not set any stop loss or take profit into the sell position. However, I was ready to close the sell position in profit. Unfortunately, the sell position stopped out at 1.3904 due to a low margin.
    Last edited by bidyut; Yesterday at 06:14 PM.

    Approved

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