Archive for the ‘Paper Trades’ Category

Hey guys, here were the trades that I made last friday. Kinda delayed posting, been busy this weekend had to help out with Mother’s day prep.. we decided to organize a Mother’s day dinner/party thing for all the mom’s in the family, which is a lot lol. Anyways the trades are below, I’ll post the charts tonight along with some follow up. All I did on friday was scalp galore and failed miserably.

Hey guys,

Ok, well the first thing I’m going to admit today, is that I cheated for today’s trade entries. Here’s why (lame excuses): Well, yesterday I wasn’t trading at all but I was looking thru the charts, since EUR/USD was mainly channeling (I’ll show a pic below). I didn’t want to bother with it, the last chart I had opened was the 1 minute chart. Now this morning, I started to trade around 11am, a few gains thru out the day, but mainly losses. I realized I was looking at the 1 minute chart instead of the 5 minute chart. If you’ve been following me since the beginning, you’ll know that I usually only trade using the 5 minute chart. The 1min chart has too much noise on it. This led to my losses + Oanda’s demo server is annoying as fuck, I lagged a few orders and executed later than I wanted (for market orders, limit orders are executed at the right price). So the cheat that I’ve done for today is I added back all the money that I lost today as if it never happened. This is shown on the tradelist as “Add funds”.

The only thing that will be color coded will be the profitable trades, since the rest are losses that are just canceled out. I just left them there anyways to show you guys and to remind myself in the future that I gotta be REAL careful when I start making too many trades.

Onto the actual trades..

First chart shows the overall channelling that the EUR/USD has been doing for the past couple days. On the chart, I didn’t draw ontop of the actual lines, but the dark black and arrows were done in paint. The lighter black lines for the top channel is visible, and is placed for the big channel and smaller S/R’s within the channel. I didn’t trade these since it’s just weird.

Second chart shows the timeframe that I traded this morning. Some lines are seen connecting bars: Blue = long and red = short, these lines are placed by MT4 from the actual trades made, so this wasn’t drawn by me. The only thing I added was the thick black lines to show more clearly where my entries and exits were. The initial long was placed after breaking above a resistance and closing above it. I didn’t buy on the first break, since there were 2 resistance points close together and the closing of the 1st break was close to the 2nd resistance. I waited, after breaking the 2nd resistance (1st blue circle), I bought. Sold near the 3rd resistance, this is when more of those losing trades came into play.

On top of this mini run is a semi shitty shooting star pinbar, signifying possible reversal. I played 2 shorts, 1 small one, and a continuation bigger one. Coming down, a previous resistance now acts as a support, this is shown from the 3rd blue circle. After breaking down, that’s when I entered the 2nd bigger short.

NOTE: If I didn’t decide to close the 2nd short and held it till about 4PM EST instead of 1PM EST. Which would’ve meant to hold it for 3 hrs 13 minutes instead of just 13 minutes, that would’ve gained me another 20 pips = $20. But at the time, I realized it was entering the afternoon and decided to stop for the day.

That’s all for today, see you guys tomorrow!

EUR/USD – 5 Min Chart Channelling for the past week

EUR/USD – 5 Min Chart (11AM – 1PM EST)