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Thread: ola4real's - Trading journal

  1. #19081 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello everyone.


    I did not make it in my last trades, I do not have any hurt feelings as the stop-loss catered for my account safety. The two trades were stopped at 25.025, and I suffered losses of $34.50 on each trade, making my aggregate loss to be $69. To be honest, I made the right decision, the market did the opposite due to the reversal that happened in favour of the USD. I am happy that I lost a few amounts concerning the account balance had, this is why the use of stop-loss in planning the proper money and risk management is good.


    Name: silver trade.PNG Views: 121 Size: 9.7 KB



    How i lost


    All my view on silver was a bullish market after breaking the resistance at 26.12 and possessed a bullish price action on the daily chart. The silver made a reversal yesterday to break back below 26.12, which was why it confirmed a bearish bias when I was away from my computer. My stop-loss of 26.025 was triggered due to that, and I am sure that silver has taken a bearish bias since then.


    Name: silver.PNG Views: 116 Size: 23.2 KB



    Floating trades


    I decided to place my bet on gold and EUR / USD today. I have analysed these trades to be sure of the selling direction on them, though I am sure on the selling of EUR / USD than that of gold, the two trades should be selling for the rest of today. My risk is low on the trades, gold was sold with a volume of 0.06 in aggregate, while EUR / USD was sold with 2 volumes in aggregate. The stop-loss and take profit on gold are 50 pips and 100 pips respectively, while the stop loss-loss and take profit on EUR / USD are 20 pips and 70 pips respectively. These make the trades have proper management as the risk to reward ratio with the trade of gold is 1:2, while that of EUR / USD is above 1:3.


    Name: current trades.PNG Views: 117 Size: 18.5 KB



    How gold confirms sell


    The bearish bias on gold is short-term towards 1762 unless the metal breaks below the support to confirm an everlasting bearish trend. Gold confirms a bearish bias with the bearish price action on the daily chart of the metal, it was not powerful to continue a bullish path it tried to create this week, that is why I voted for a selling direction. Gold should touch 1762 support any time soon, that is why I will closely watch this metal for any adverse movement around that support. It will take gold to break below 1762 and have a daily close below it before a long-term bearish will be activated.


    Name: gold.PNG Views: 115 Size: 24.1 KB



    How EUR / USD confirms sell


    There is no doubt about the overbought condition of EUR / USD on many charts including the daily chart, this had caused some problems for the former bullish trend of the pair. A reversal is confirmed today with the bearish Doji pattern on the daily chart, which built the pressure on EUR / USD for the break of the daily chart support of 1.2115. The bearish reversal pattern will easily pressure the price of EUR / USD down to 1.1035 support, it is the break of that level that will lead the pair down to 1.1970. My target must have been reached before the second support.


    Name: eur.PNG Views: 114 Size: 25.6 KB
    PLEASE VISIT OLA4REAL'S JOURNAL FOR LATEST UPDATE
    https://forum.mt5.com/showthread.php...rading-journal

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  3. #19082 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Greetings everyone.


    I am not happy today due to the news that bonuses were paid to members for the week-18, but I did not receive any bonus. You can see the proof in the image I posted below. Once there is "0 lot to be traded" is showing after the weekly bonus is paid, it means the trader did not receive anything. I am saddened about this because I only got one payment in the past five weeks. I will be watching the development till next week.


    Name: partner.PNG Views: 108 Size: 12.7 KB



    Active trades and mistake made


    Those opened trades of yesterday remain active in my account, they are floating in a positive position. The selling of gold and EUR / USD was the best decisions for me, I am convinced that the trades will be closed in profits. EUR / USD trades have captured 85 pips, it is the trades on gold that are lagging with profits of 9 pips on average. I made a mistake of the take profit inputted on EUR / USD, I was to make a take profit of 70 pips but I mistakingly inputted a much lower take profit at the level of 1.1441. This is the reason why the trades on EUR / USD is still open, I will close them manually when reached 1.2000.


    Name: last week history.PNG Views: 108 Size: 28.2 KB



    This week trading history


    The asset I traded last week were Silver, Gold and GBP / USD, none of these trades was positive. The aggregate loss on the trades was $232.10, I am planning to improve on this bad performance starting from next week. My current floating trades with a positive position of $174.72 will add to the success of my plan by reducing the total loss in my history. A new month has come, I will start performing better by next week as I am fully ready for the market.


    Name: many trades.PNG Views: 108 Size: 18.5 KB



    Prospect on gold


    I pointed out yesterday that gold might not be falling easily, the support at 1762 is the obstacle behind the slow-selling of gold. The level is my take profit spot which was not met yesterday. There will be a strike on the level next week, gold will enter into a long-term selling mode if the level is broken. If the level did repel the gold upward, there will be a forceful bullish pullback to 1789. The bearish price action on the daily chart of gold will make sure that 1762 is first struck by all means necessary.


    Name: gold.PNG Views: 106 Size: 27.1 KB



    Prospect on EUR / USD


    I am holding the bearish bias I have on EUR / USD, it is hard for the pair to break back above 1.2115, which was the reason for the present bearish pattern. There will be a target of 1.1970 since the old support at 1.2035 was broken, just as I had explained yesterday. The bearish price action rules the daily chart of EUR / USD, which is one of the reasons why the pair will test lower level before it will begin to adjust next week.


    Name: eu.PNG Views: 109 Size: 25.5 KB
    PLEASE VISIT OLA4REAL'S JOURNAL FOR LATEST UPDATE
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  5. #19083 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Greetings everyone!


    What I suspected the market to do was what it did on the two trades I left over the weekend, I closed the trades today. EUR / USD was the successful one, while gold reversed upward to strike the stop-loss price I set for it. I do not have a hurt mind regarding the loss I had on gold because I can't be making profits all the time. There are times I might win and there are times that I might gain. What is important is my continuous learning and the risk management I use to cater for the mistakes and imperfections of my trading strategy.


    I lost just $40.5 on gold, the low loss was possible due to my defensive trade on the metal. The trade on EUR / USD gave me $155, which makes my total profits after the loss and swap charges are removed to be $113.96. I am doing well with my trading plans and I'm glad to say that I am improving in my analysis. This week will add to the proof of the improvement because I only plan to trade what my trading strategy advises me to do.


    Name: closed orders.PNG Views: 104 Size: 21.8 KB


    Active trade


    Many trading positions are floating in my account at the moment, they are only three assets, I just divided them for better management. I am holding bullish positions on GBP / USD, EUR / USD and Gold, and the aggregate volume size on them are 3, 3 and 0.1 respectively. All of the active trades are running at a good profit of $16.46, this is a good sign that I will be successful in them. I carefully planned the risk and management of these trades to save my account. With the trades on GBP / USD, I used the stop-loss of 35 pips and book a profit of 70 pips, making it has the risk to reward ratio of 1:2. The trades on EUR / USD has a stop-loss of 20 pips and take profit of 50 pips, making it has the risk to reward ratio of over 1:2. While the trades on gold has a stop-loss of 70 pips and take profit of 250 pips, which makes it has the risk to reward ratio of almost 1:4. The trades have good trading plans as far as I know but I will be following the trades manually for adverse reactions.


    Name: active trades.PNG Views: 99 Size: 25.5 KB



    GBP / USD confirms sell


    I was bearish on GBP / USD on Friday, the bias changed when there was a break above 1.2815 which supposed to protect the bearish continuation on the pair. GBP / USD has not confirmed a serious bullish bias, but it will surely make some corrections to the upper prices. The break above 1.3815 is a short-term confirmation for me to buy the pair, that was why I opened a buy order at 1.3852. There will be bullish momentum upward to the daily chart Fibonacci level of 1.3893 today, while the price of 1.3972 will be the next target when the former resistance is defeated. Else, GBP / USD might be selling from 1.3893.


    Name: gu.PNG Views: 95 Size: 26.4 KB



    EUR / USD confirms sell


    EUR / USD was bearish until this morning, it has now broken above the daily chart Fibonacci level of 1.2035, there is going to be a correction on it today. The bullish victory above 1.2035 was my validation for opening the buy order at 1.2045, I am hoping that EUR / USD will be moving upward to 1.2115. My take profit of 1.2090 would have been hit before the pair gets to the real target price. The USD is getting weak today, this is possibly a higher chance for EUR / USD to hit upper prices.


    Name: eu.PNG Views: 93 Size: 27.0 KB



    Gold confirms sell


    Gold has always been resistive in selling, I knew when I opened a sell order on the metal last week, that made me lose. Gold has shunned the support at 1762, it is pressing higher due to that. It is high time for gold to rose because it is creating the bullish price action above 1762 important support. Gold has the possibility to be resuming a bullish bias which could see it hitting 1836 in long-term setup. My target of 1800 must have been achieved before gold gets to its destination.


    Name: gold.PNG Views: 91 Size: 26.2 KB


    I am glad to have put my update together today. I will be glad to shed more light on the unclear aspects, you can drop any concern and recommendations in the comment section.
    PLEASE VISIT OLA4REAL'S JOURNAL FOR LATEST UPDATE
    https://forum.mt5.com/showthread.php...rading-journal

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  7. #19084 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hi,


    What I am experiencing right now is what the good and successful traders are experiencing. The reason for that is the good trading results I've been enjoying since last week. No matter where the market may go, I would have known it with the help of the Fibonacci trading system I am using. This is why I switch positions on some assets almost every day and still make money on my actions. I will keep on making reasonable trades, such that is without emotions.


    Closed orders


    All the eight orders traded on GBP / USD, EUR / USD and Gold are successful, and I made sure that I closed the trades yesterday without thinking twice. I am happy I closed the trades because they all bought orders which have reversed strongly today. I would have lost some trades, while others might have had a decreased profit if I didn't make such a decision. The forex market is deep, it is not every time I will be waiting for the set stop-loss and take profit to be hit, though the trade on GBP / USD reached the take profit level and closed by itself at 1.3921. The aggregate profit on all of the trades is $416.35, this success is huge for a Monday market that is always sluggish.


    Name: ended trades.PNG Views: 517 Size: 28.9 KB


    I just continued to work on my journal and trading account on Thursday last week, I was badly hit with losses immediately I started until on Friday that I started making progress in my trading account. Within Friday and today, my trading account has achieved a profit of $530.31, which is a very good success in just two days. The risk I took was not high, I am proud of that, the security of my trading account is my priority.


    Name: status.PNG Views: 86 Size: 2.2 KB



    Active orders


    I might be late in opening trades on the USD index and EUR / USD today but I did not waste much time since Fibonacci analysis confirmed the trades for me. I bought the USD index with a single order of 1 volume and EUR / USD with 3 orders of 1 volume each. The trades are floating in profit as seen on the screenshot below with a $52 aggregate profit. I protectively plan these trades with the 22 pips stop-loss and 73 pips take profit on the USD index, while the stop loss and take profit on EUR / USD are 20 pips and 80 pips respectively. The calculation indicates a risk to reward ratio of over 1:3 on the USD index and 1:4 on EUR / USD.


    Name: active trades.PNG Views: 85 Size: 15.8 KB



    Why I bought the USD index


    I never expected the USD index to rise today until I realized that it was only one candlestick, which was that of yesterday that is only a bearish candlestick on the daily chart in the last four trading days. This made me concluded that the bullish price action has started a bullish reversal on the daily chart of the USD index. There was a break above the resistance at 91.09, which validates a short-term bullish bias for the USD index on the daily chart. I have set a target of 92.00 on the trade, and I know that it will be hit this week. A break above 91.53 will determine the success of this expectation.


    Name: usdx.PNG Views: 85 Size: 25.1 KB



    Why I sold EUR / USD


    Ignoring yesterday's candlestick on the daily chart of EUR / USD will plainly reveal the bearish price action on that chart. EUR / USD is bearish since last week Thursday when it creates a Doji formation for a bearish bias on the daily chart. Yesterday trading saw a fake movement on EUR / USD and a break above 1.2035 Fibonacci level. But the breaking did not last since 1.2035 had been broken lower again, which indicates a failed break that signifies an expectation for strong bearish pressure. EUR / USD will be fierce in pressuring down today, the expected target is at 1.1908. My take profit of 1.1949 must have been hit before the target is triggered.


    Name: eur.PNG Views: 85 Size: 26.6 KB
    PLEASE VISIT OLA4REAL'S JOURNAL FOR LATEST UPDATE
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  8. #19085 You can automatically minimize the read posts in your account in the 'Forum Settings'
    It's time to retire!
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    ola4real has a reputation beyond repute ola4real has a reputation beyond repute ola4real has a reputation beyond repute ola4real has a reputation beyond repute ola4real has a reputation beyond repute ola4real has a reputation beyond repute ola4real has a reputation beyond repute ola4real has a reputation beyond repute ola4real has a reputation beyond repute ola4real has a reputation beyond repute ola4real has a reputation beyond repute ola4real's Avatar
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    Hi everyone,


    My predictions on the USD was right yesterday, there was a minimal appreciation in the price of the currency after I bought it. The sellers of the USD might be winning today, there will not be a serious buyer of the currency even if it tries to make the upward direction. I was late to book my profits on the trades on the USD index and EUR/ USD, but I am happy to have later made the decision when I compared the price I closed the trades and the present price they are now. One thing about the market is that it is not perfect, there can't be a perfect trader trading it either. I am trying to be smart and I will always do my best to keep my account safe with money and risk management instead of expecting perfection from the market and my trading system.



    Closed trades


    I was no more comfortable with the four-volume trades of yesterday, I closed them due to the lack of trust in the USD today. Much of my former gains were reduced, and I was only able to close the trades on the EUR / USD in aggregate profit of $36. But I did not make it on the trade on the USD index which I closed with a single loss of 1 pip, this amounts to just $1. It was the removal of the swap charges and the loss on the USD index that made the aggregate gain to be reduced to $33.79. I am satisfied with the closure of these trades because it is better to gain a little than to lose money to the market. Hitting my take profit is not an option since I consider the account safety, the risk of holding the trades would have been higher.


    Name: ended ones.PNG Views: 65 Size: 17.1 KB


    The last trades had increased my account balance to $564.10, which is a welcome development when the market is not stable. I have traded buy and sell on the major pairs and metals as if I was gambling in the past few days, but I knew what I was doing. I will continue to follow my trading strategy on Fibonacci, it is helping me and I am very glad I know it.


    Name: acc balance.PNG Views: 61 Size: 2.2 KB



    Current trades


    GBP / USD was the market I could see that confirmed a more valid trade for me today. The asset is playing around the Fibonacci level of 1.3893, which was the reason that made me opened a buy order on it. I have five orders running on this asset and each order was opened with 1 volume. The risk management was put into consideration when opening these trades by the reason of 20 pips stop-loss and 80 pips take profits used. The trades run with the risk to reward ratio of 1:4, which is good to protect my trading account, so I worry less about what might happen on it.


    Name: my trades.PNG Views: 60 Size: 17.9 KB



    GBP / USD confirmed a bullish direction before I acted


    GBP / USD has been buying since the middle of last month, this is why a bullish price action was concluded by me on this asset. There are many struggling formations on the daily chart of the asset, but the bullish direction is winning. The asset has broken upward of the Fibonacci level of 1.3893, this will increase the ability of the GBP / USD to continue with the bullish journey it started three weeks ago. GBP / USD tends to hit 1.3971 and 1.4007 by holding above 1.3893 for the rest of this week.


    Name: gbp.PNG Views: 62 Size: 28.0 KB
    PLEASE VISIT OLA4REAL'S JOURNAL FOR LATEST UPDATE
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  9. #19086 You can automatically minimize the read posts in your account in the 'Forum Settings'
    It's time to retire!
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    Hi everyone.


    The lesson I learnt yesterday was to be fervent in the use of a stop-loss. I admit that the market condition was not good yesterday, the GBP / USD was just dangling up and down with a little achievement in the end. This made me concluded that both buyers and sellers of GBP / USD might have had their stop-loss hit yesterday, it is a matter of how little or big the stop-loss was that will determine the level of losses the trader must have incurred. By how the GBP / USD is behaving for the past few days, it is hard for me to trade it if I want to be conservative. But I will continue to take my risk on it for the volatile nature of the asset among the major ones.



    Closed trades


    The trades on GBP / USD did not survive yesterday's market condition, all of the five trades were closed automatically when they hit the stop-loss level of 1.3889. I intentionally planned the trades that way, so I do not feel bad about it. I am rather feeling good because I might have lost more if the stop loss did not save the day for me. The trades were 5 orders and I lost $32 on each trades of 1 volume, making the aggregate loss to be $160. My trading balance has reduced, but my trading psychology is very much intact.


    Truly I lost, it is part of forex trading, no trader can be winning every time, but for the use of the proper money and risk management to avoid losing our money so much. If there is a good trading strategy to back that up, there will surely be a successful trading result in the long run.


    Name: stopped.PNG Views: 163 Size: 19.4 KB


    I will try not to let the reduction in the profit in my account enter my head so that it will not cause emotion for me as a trader and human being. Fine, the profit of the past five trading days in my account has reduced drastically to $404.10, which was formerly $564.10. It is part of trading, all I know I will be doing is to be more protective in the next trades by using stop-loss actively, it will reduce losses and give me more edge to review my profit higher when my trades become successful.


    Name: account balance.PNG Views: 44 Size: 2.0 KB



    Active trades


    Today is a fresh day, I have left the loss of yesterday behind irrespective of the asset I traded. I have a fresh order on GBP / USD today regardless of the outcome of yesterday on the same asset. I chose the same buy order on the current trade by the guide of the Fibonacci strategy I used in my analysis of the GBP / USD. I noticed that it is hard for GBP / USD to break below 1.3879, which is the main motive behind me buying the pair using 1 volume on separate five orders. I set the stop-loss on each trade to be 30 pips just as the take profit is 80 pips. The setup makes my risk to reward ratio to be over 1:2, this is good for proper account management.


    Name: running trades.PNG Views: 43 Size: 18.6 KB



    GBP / USD confirmed sell direction


    I confirmed the sell direction with the help of the Fibonacci system on the daily chart. Apart from the bullish price action that is showing clearly on the chart of GBP / USD when the last twenty candlesticks formation is considered, there has been the reluctance of the GBP / USD to break below the support at 1.3879 after many hit on that level. The level was hit countless times yesterday but the asset is holding above it right now, it is even launching a bullish candlestick that will finalize a bullish trade today. GBP / USD has confirmed a bullish bias for those reasons, it will push upward to hit 1.3945 in that process. The success must have activated more bullish momentum on the asset, which will cause a break above 1.3945 for a higher target at 1.4011 to be hit. Thankfully, my take profit of 1.3992 is within the said levels.


    Name: gbp.PNG Views: 44 Size: 29.7 KB
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  10. #19087 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hi everyone.


    I continued learning a hard way yesterday, I had paid dearly for being stubborn to trade GBP / USD for the past two days. I continue failing on the buying of this asset but I have not relented. The money and risk management that I am applying to every one of the trades I opened worked to save my trading account, nothing else would have saved the account when the number of the losses I was hit with in the past two days is considered. Today is a day that many adverse volatilities will happen in the market due to the US news that will be released during the US session. The outcomes of the news do not matter, the market will see high volatility. This is why I am planning to limit the stop-loss in every one of my trades to between 20 - 25 pips, it will cover the safety of my account even if the US news affects my positions negatively.



    Outcome of yesterday's GBP / USD trades


    The outcome of my trades on GBP / USD yesterday was in loss, I lost due to fundamental reasons. The analysis I made was good, but there were important news and meetings set by the Bank of England yesterday, this caused the losses due to the bad market conditions during and after that news and meetings. This is the second day I will lose so much on the buying of GBP / USD, the outcome will not stop me from trading the asset when my analysis confirms it anytime. I lost a total of $153 yesterday in a mixed loss of $30 and $31 in five trading orders. The aggregate loss has decreased my total profit since last week to $251.10, I am not so concerned about that since my account is safe. This is the market where I can recover all in one day and still make surplus gains.


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    Present trades


    I do not have faith in the USD today, this was the reason why I sold the USD in all of my trading orders. I am running a buy order of 3 volumes on GBP / USD and sell order of 2 volumes on the USD index. I have the belief that the results of the trades will be successful because the news coming for the US will likely not favour it when it comes to the way the USD will react to it irrespective of the outcome of the news. I used stop-loss and take profit in all the trades as promised in my past posts. The stop-loss of 25 pips and take profit of 80 pips were used on EUR / USD, while the stop-loss of 20 pips and take profit of 60 pips were used on the USD index. The calculations make the trade on EUR / USD has the risk to reward ratio of over 1:3 and that of the USD index has the risk to reward ratio of 1:3.


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    Daily chart of the USD index confirms sell order


    A bearish bias has started on the USD index two months ago, it has made the chart bearish in price action. The renewal of the bearish bias was initiated three days ago when the USD index could not go further beyond the high of 91.41, it thereby started a fresh phase of the bearish price action which has led to the break of the support at 91.09. The USD index at 91.85 is holding below that former support since yesterday that it had broken it. This is a bearish signal for the USD index, it is set to trend down to hit the low of the year at 89.65. The target level is not going to be hit this week anymore, but substantial sell will occur on the USD index today. The USD index will change the bias only when it breaks above 91.09, which was why I set my stop loss at 91.11.


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    GBP / USD charts


    The daily chart of the GBP / USD has confirmed a bullish bias by the bullish actions of the asset irrespective of the initial falls. The asset has tried to sell many times in the last two weeks, the buyers always win, the situation has left the bullish price action on the daily chart and a break above 1.3879 after the short defeat yesterday is a good bullish signal for the asset today. The targets of 1.3945 and 1.4011 are my expectations on the bullish bias, these levels are within my take profit price of 1.3987, which makes my trading setup to be well planned.


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    The 4-chart of the GBP / USD further confirms the selling bias on it, the bullish price action on the chart is more visible than that of the daily chart, which makes the bullish signal well validated. The stochastic oscillator is another confirmation for me, the indicator is bullish in its signal on the GBP / USD and it is pointing upward in addition to that. The asset will quickly reach 1.3945 today before trying to push further.


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    PLEASE VISIT OLA4REAL'S JOURNAL FOR LATEST UPDATE
    https://forum.mt5.com/showthread.php...rading-journal


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