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Thread: Kalex's - Trading Journal (2)

  1. #6321 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Good evening all my friends .Hope everyone is on the green pips .I saw today that many people also experienced margin call while some members made good green pips .In my last post I told that I opened in AUDUSD pair and was in the positive side .The pair went upto the 20 pips upside as per my expectation .Last time I traded with 6 lot size and after attaining some 20 pips ,I closed 5 lot size in that deal with about $100 profit but the pair came back sharply from the 200 EMA in the daily timeframe .After seeing the bearish candle pattern again I opened the sell option with some high lot size and recovered the previous losses .After scalping in total I made about $162 profit and requested the amount for payout .Today Morning i received the amount in my pay co account and for that a big thanks to mt5 forum and Instaforex .



    I will just show you people I actually thought about this pair and How I planned the main trade idea and why I quit from it now without holding to aim from my previous target .

    1.When I entered the trade order in AUDUSD ,I just saw the daily timeframe and my Idea was just as I depicted last time and suddenly I saw the daily timeframe chart which also made me sure that there may be a good hurdle in that area .Exactly that thing happened and for that near the 200 EMA ,I just booked my 80% profit and allowed to run the other trade order to see what can happen ,after that instead of bouncing it went downside making some more bearish string hourly candle which provoked me to sell that in high lot size so that I could make some quick profit .

    REASON FOR FIRST ENTRY INTO THE TRADE ORDER AUDUSD :- Here the pair created a very strong candle pattern in the positive side just above the 100 EMA and that actually made me feel that there may be some upside .



    REASON TO CLOSE MOST OF THE OPEN TRADE ORDERS :-I mainly targeted the 200 EMA in hourly timeframe here and that is about 20-25 pips upside from that current trade order entry .So I closed mostly all the deals



    Now the question comes why I just closed all the deals and book the profits inspite of keeping some orders opening - its mainly because I made more then my targeted profit and the second reason is that its the experience as inspite the bearish set up confirmation in daily timeframe ,I saw that in daily timeframe already the pair is somewhat showing oversold and for that I closed the sell deals which were in a very high lot size .You can do that with the ATR indicator also .

    NOTE :- Here me just sharing my experience to you people that how me actually think when I open a trade order and how me now refining my open trade orders and avoid over trading or keeping waiting for the deal to come to my target ,always we should walk with the market sentiment and not with our thinking .

    You people might be seeing that my previous analysis on Gold also went very right as last week itself I told that this week we will see some good sell off but as I said i always go with the most fitted strategy as per my experience .Hope you people got some idea how to open a deal with some simple ideas .

    ---------- Post added 01-04-2021 at 05:08 AM ---------- Previous post was 31-03-2021 at 03:29 PM ----------

    Good morning all of you .I feel now the market trend is becoming clearer for the next week because we are seeing the dominancy of the USD and for that the rise of the USDJPY and fall of USD related pairs are happening .Now it seems that pairs like NZDUSD and AUDUSD are going for the deep fall and thus it can become a very opportunity for the sellers now to make some good profit .

    GOLD WEEKLY TIMEFRAME ANALYSIS :- This week we have seen that the yellow metal came down till the 1676 level and now showing some natural bounce towards the 1710 area but overall the sentiment is still bearish and by looking at the weekly pattern there is a very good chance that Gold can come towards the 1550 level in the coming weeks ,it may take some weeks but the possibility to slide towards the targeted area is very prominent as the USD is looking very very strong and may be in USD index we can see the bull work in a sustained way in coming time .But yes from the current level ,we should avoid selling the metal as it looks that the 1810-1820 area is a very good place for the sellers .



    NZDUSD WEEKLY TIMEFRAME ANALYSIS :- The pair is now in the bearish mode and it seems that it can come to the 200 EMA in the weekly timeframe upto the 0.6794 area but yes if that breaks ,the pair can come to the 0.6400 level in the coming days .In the daily timeframe ,there is a good hurdle near the 0.6907 area and for that we can expect some kind of bounce from this region but yes the overall sentiment in this pair is bearish .



    As per my experience ,I feel that next week there will be some very clear entry opportunities in the market and as tommorow is good friday ,I will avoid further trading in this week because $162 profit in this week is enough for me because I am trying to avoid the over trading factors and trying to develop the patience in my trading .So in total 3 weeks will be going without the margin call factor and that is biggest achievement for me apart from making profit .

    Approved

  2. #6322 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Good morning everyone. Today is Good Friday and for that, the market is almost closed, there is no movement at all to trade here. I am really happy to see that the trading Journal section improved a lot and that is confirmed when I saw suddenly a big spike in page views in that trading Journal section. Many new faces came but now really me satisfied that maximum writings are good enough. Yesterday while reading a post of one of the legit member posts, I saw that many people requested him to write for them. Frankly, which is not possible but yes if you people don't know how to write, you just follow the guidelines with patience and I think that success will come for sure. Now the moderators also concentrating on the grammatical issues and that is also a very plus point to upgrade the forum. Hope the whole thing can uplift the standard of the forum in the coming days and it could be spammer-free.

    Here another feature I loved the most in recent times and that is the draft version introduced because with such features any member can write their postings with patience and they can take some time gap also without the fear of losing all their previous writings. It will definitely help to improve the quality of posts. Previously I also copy-paste in word documents if I couldn't finish full posting and in my free time, I used to complete but now no hassle because the previous incomplete writings are preserved, just we have to add the additional part. For this, I appreciate the whole mt5 forum team because now it looks that we are going on the right path.

    MY MARCH MONTH TOTAL EARNING FROM BONUS AND REAL TRADING ACCOUNTS:- Last month frankly speaking was good for me in terms of earnings because in total I cashed out about $842 from Instaforex in spite of my busy schedule. Here I want to say that this time I just avoided over trade and for that the biggest thing is that apart from earning, I managed to protect my bonus equity which is my prime aim as until and unless we are not aware of the importance of the bonus amount, we couldn't control the emotion to trade with that. I always experienced that with small amounts I am very comfortable making a profit but when it comes to big-equity more than 500$, I just trapped into the greed factor and used to lose all the amounts.



    NOTE:- Not counting $200 because that was a deposit amount that came back after a technical error.

    Here me going to do some analysis so that next week there may be some opportunities to enter the market in order to fetch some green pips.

    SILVER DAILY TIMEFRAME ANALYSIS:- Overall in the long-term view, Silver looks bearish but the way it bounced from the 200 EMA region indicates that we can see some more upside in this white metal, and maybe it could prove another leg up from the current level. Here for scalpers, there is a very good chance to make some 40-50 pips because in this run the white metal can go up to the 25.50 level, and if the strong momentum continues, we can see that it may reach the 26.60 area also but yes after that the real test in trend can be seen because any kind of breakout will prove that bulls are going to dominate in the near future. but yes breaking the 200 EMA can take this metal towards the 22 levels if the bear dominates in any kind of negative situation.

    Rejected

  3. #6323 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Hello guys.Hope you people are enjoying the weekend. A new week is starting and everyone is gearing themselves to make some new trading plans and strategies to face the market. Last week frankly speaking we have not seen much movement mainly near the weekend time because of the Holiday issues. Though on Friday I managed to make a small profit of $31 on USDCHF sell. As the market was not moving, I used little big lot size purposely so that with small pips amount profit I could get out of the market and that exactly happened. Just with 6 pips profit, I made $31 but yes till now me not requested for the payout. I will do that on Monday itself.



    USD INDEX OUTLOOK:- The DXY closed at 93 levels last week showing some positiveness but if we see the long term perspective it's now also bearish. The daily timeframe is negative and pointing towards a downside move next week. If the 95 levels can be reached and sustained then there may be a good possibility that one could see bull dominancy in the near future, otherwise, there is a chance that again the 90 levels can be seen in the near term.
    • US index seems bearish now hinting towards downside may go down towards the 88-90 level within a month
    • Saw three consecutive positive move in the last three months
    • Waiting for a breakout or fall deeper

    USDJPY FORECAST:- Here the question comes that whether the USDJPY movement at the upside circuit finished or not. As per the monthly chart, it's seen that now also the pair is inside the triangle pattern and waiting for a strong breakout. So if the recent level breaks, one could see the pair running towards the 119 level. if any kind of bearish move can be seen, there may be a chance that the pair can come again to the 200 EMA level at the 106.85 level.
    Here some points to be noted.
    • The USDJPY pair is showing a powerful move in the monthly pattern.
    • The USDJPY pair is on the positive side for the seventh trading session.
    • Joe Biden announced $2.25 trillion dollar infrastructure planning .
    • USDJPY May face resistance next week and thus selling pressure may be created .




    GOLD DAILY TIMEFRAME ANALYSIS:- Gold showing slightly bullish here and closed above the 14 days moving average which indicates that there may be some positive movement in the next week but yes it's noted that the strong resistance zone is near the 1735 to 1740 level and from there it could show strong sell-off again. If this yellow metal shows some strong bearish move then there may be a good chance that the 1550 level can be seen in coming times.

    Points to be noted:-
    • The downtrend is still intact
    • The 1672 level is acting as strong support now




    MY TRADING PLAN:- Next week as usual my trading plan would be to target only 5-10% profit on the first attempt but yes I will avoid the overtrading part. Already I started the April month trading with a decent profit, hope I could continue that for a longer period of time and make some sustained profit this month also like the previous one where I mentioned that I made $842 profit. Till now me having good equity of $645 in my trading bonus account and thus me not risking any kind of real amount for trading because risking extra real money in trade can be dangerous and can put us under more stress. So until and unless I could protect the bonus equity, I will avoid real money trading. But yes If I get some 80-90% sure trading entries, I will definitely invest and go for some quick trades.

    Approved

  4. 11 users say Thank You to Kalex for this useful post.

    Ambar Hassan (04-04-2021), apna_papa (04-04-2021), bappy4x (04-04-2021), bhai001 (04-04-2021), Forex Prediction (04-04-2021), global20 (04-04-2021), Interlock (04-04-2021), loaded-prof (04-04-2021), PhilipOscar (04-04-2021), rescue1122 (04-04-2021), rezwanfx (04-04-2021)

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