Hello Everyone,

Starting Monday, I plan to maintain an online journal for trades taken by me in the Fx market. I am very indisciplined when it comes to maintaining a trade diary and hopefully this thread will help me rectify that problem of mine.

Best Regards
Kittu

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Learning Basics of Forex
"It was never my thinking that that made the big money for me. It always was my sitting."

Kittu

Can u provide 3-4 months forex intra-data to backtest my system on forex
And what platform u r using

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Originally Posted by Ajax i4u

Kittu Can u provide 3-4 months forex intra-data to backtest my system on forex And what platform u r using

Ajax,

Fx data is freely available with all the MT4 based brokers. you can get years of intraday data for free in MT4 format. I use Mt4 for my charting. You can refer to my thread in my signature to land to some decent MT4 based brokers.

Kittu

__________________
Learning Basics of Forex
"It was never my thinking that that made the big money for me. It always was my sitting."

Originally Posted by Kittu

Hello Everyone, Starting Monday, I plan to maintain an online journal for trades taken by me in the Fx market. I am very indisciplined when it comes to maintaining a trade diary and hopefully this thread will help me rectify that problem of mine. Best Regards Kittu

Good Luck in your Journey

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Adapt,Overcome,Improvise

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Originally Posted by Kittu

Hello Everyone, Starting Monday, I plan to maintain an online journal for trades taken by me in the Fx market. I am very indisciplined when it comes to maintaining a trade diary and hopefully this thread will help me rectify that problem of mine. Best Regards Kittu

Looking forward for your posts and your journey through time in Forex arena...best wishes...

Forex mkt is really huge and challenging, trillions of dollar traded every date...the sheer scale, equities come no where to that in my opinion, even when the turnovers of all the stock exchanges are combined together....

This morning when I woke up, there was a GJ trade triggered. The order was punched last night, but with 1/10th of the position size because of overnight and early monday morning trade. The trade did reach its target, but the dollar value was small enough to not affect the account balance.

Short 144.50
SL 145:45
TP1:143.6
TP2: 142.5

The TP1 was reached and half lots booked with other half at BE, which were stopped out at BE.

PS: This is not how I plan to maintain the journal. This is a late entry in the journal

__________________
Learning Basics of Forex
"It was never my thinking that that made the big money for me. It always was my sitting."

Short AUDJPY @ 80.55, CMP 80.53

SL 81.15
Tgt1 80.05
Tgt2 open

__________________
Learning Basics of Forex
"It was never my thinking that that made the big money for me. It always was my sitting."

Originally Posted by Kittu

Short AUDJPY @ 80.55, CMP 80.53 SL 81.15 Tgt1 80.05 Tgt2 open

It hit the stop.

__________________
Learning Basics of Forex
"It was never my thinking that that made the big money for me. It always was my sitting."

These mistakes keep coming back to me to haunt again and again. I still have to work better on psychology for this set up.

Today, I saw a short set up on EURUSD at around 10-11 AM. The price has been ranging for quite sometime and my signals were telling me that it will break down.

But, for reasons unknown, I didnt punch the orders. I stopped myself from taking the set up. And then for the rest of the day, I saw EU going down down down the drain. Very frustrating, but not a first time experience.

The psychology part still needs more work.

__________________
Learning Basics of Forex
"It was never my thinking that that made the big money for me. It always was my sitting."

Originally Posted by Kittu

These mistakes keep coming back to me to haunt again and again. I still have to work better on psychology for this set up. Today, I saw a short set up on EURUSD at around 10-11 AM. The price has been ranging for quite sometime and my signals were telling me that it will break down. But, for reasons unknown, I didnt punch the orders. I stopped myself from taking the set up. And then for the rest of the day, I saw EU going down down down the drain. Very frustrating, but not a first time experience. The psychology part still needs more work.

Just my 2 cents.

Keep an excel sheet with your setup/signals details like what is it,how many winners,how many losers,avg % drawdown and gains etc.
At the end of each trading session,fill up all relevant details.

This will reveal the performance of your signals which will give you more confidence to take the trades based on it next time.
Even if you are purely a discretionary trader,the performance stats you track will let you know how you are doing.

Keep a seperate column in same sheet that tracks number of random or impulsive trades you make,monitor it very carefully.

Do this religiously for every trade you make,no exceptions.

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Should you desire the great tranquility, prepare to sweat white beads.