Brian@FinancialTradingJournal.com

Trading Journal

Live Trades – May 14th & 16th, 2012

Here are my trades for this week, I only traded on Monday and Wednesday. Didn’t trade on Tuesday because I was launching the chart service trial (which I’ll post about shortly). Thursday, I was prepping to meet my economics professor, who hired me this summer to be his TA (177 hours). I’ll be posting my updated schedule to include the tutorials and office hours that I’ll be responsible for this summer. Friday was just boring I think, I didn’t see anything that I liked to trade. All in all, I managed to recover some of my losses from last week.

Summary:
Win ratio = 10/15 = 66.67%
P/L = +$82.08 = +71.64%

Note: For all the charts, not all the vertical lines for my trade entry may be visible because I drew them on the 1min chart but then 5min chart combines the lines into 1 candle stick. So just be aware of that, but the overall technical analysis is clearer on the 5min chart compared to the 1min chart.

USD/CAD 5min chart for both May 14th & 16th

GBP/USD 5min chart for May 14th

AUD/USD 5min chart for May 16th

Hopefully next week will be a good week again, so that I can recoup the losses from week 1 then start profiting again :)

Streaming Chart Learning Tool – Trial Starts Tomorrow!

Hello Everyone!

Despite the low response from fans, readers and viewers on the BOD thread. I’ve decided to launch the trial starting tomorrow morning at 4:30am EST. I might start earlier depending on when I wake up, the alarm is set for 4am EST. This will run everyday until the end of the week. The guaranteed hours are 4:30am EST to 7:30am EST, whether or not I leave charts open past that is to my discretion.

The access link is: https://join.me/FinancialTradingJournal

Please read the outline I posted yesterday regarding all the details of this potential new service. This trial is intended to provide viewers with a look at what they’d be getting but it also allows me to gauge what the demand is and how much work I have to do. I don’t usually trade that long, I’m in and out within an hour or two. With this service, I’d have to leave the charts on and annotate it for a set number of hours. It is not likely that I will have a partner on this project, so I’ll most likely just attach it onto my tutoring promo in some way or charge a small fee per month.

Brian

Potential New Learning Tool/Service to be Launched…

Would You be Interested in Seeing my Live and Annotated Charts?

I mentioned it in a blog post on Friday, if you haven’t already done so, you can read my thread on BOD: http://www.binaryoptionsdaily.com/forums/general-group2/strategies-profitability-techniques-forum1/anyone-interested-in-seeing-my-live-streaming-and-annotated-charts-thread901.0/

At this point in time, the idea is still in development and I need your feedback to gauge the demand of this service. So, please go to the thread link above and comment.

I’m making this post now to outline the full details of this new learning tool/service. This idea sprung from an idea I had planned earlier this year, for those of you that were on my blog/twitter in January. You’ll remember that I tried to alert upcoming S/R lines and trendlines, potential trades etc to help people spot these things. This ended up being too tedious on my part plus way too time consuming. Thus, I stopped and the idea subsided till now. The idea now would be to use some type of conference site to stream my live charts during certain hours of the time (primarily London and New York sessions).

PLEASE NOTE: This is unlike traditional signal services or anything of that sort. I’m simply streaming my live and annotated charts during market hours.

  • I won’t tell you explicitly what trade to take, which is why the primary function of this is a learning tool/service. The final decision for where/when to enter a trade is up to you to decide.
  • Given what I’ve taught in my video series about Price Action, you should be able to utilize this service to aid yourself in learning how to draw S/R lines or Trendlines. After using this service, it’ll hopefully/eventually lead you to learn when to place trades as well.
  • I’ll occasionally state warnings such as “monthly support coming up, be careful” or “news is coming out at 7:00am, be careful”
  • Even though the conference sites will have a function to speak/chat, I won’t be using these. It’s just going to be a silent room with my streaming charts on the screen.

This is only for you if you exhibit the following characteristics:

  • Willingness to learn, have time and effort to put into this
  • Not lazy, don’t need to be spoon fed or have your hands held

Potential benefits of this service:

  • Depending on when you trade during the day and if it coincides with the hours I stream, technically speaking, you don’t even need your own charts open. You could essentially (after demo) just use my charts as is while trading. This would replace your own charts assuming we watch the same pairs.
  • Lets you see charts thru the eyes of an experienced trader as they’re forming.

This service will likely feature “guaranteed” service hours with a large upside bonus number of hours. As you all should already kn0w, my Masters in Economics program starts in mid-August. This will affect my daily schedule because if I have 8am morning classes, obviously I can’t be in two places at once. Most likely, the hours of service will be as follows:

  1. Guaranteed service from the time I wake up around 4:30am to 7:30am EST
  2. Bonus hours range from 7:30am EST onwards depending on the day.
  3. During the summer/holidays, I can annotate charts up till 12:00pm EST easily
  4. If I’m lazy, I could simply just leave the charts up and not annotate them. This way, you have my charts to look at rather than have to redraw them yourself.
  5. A combination of #3 and #4 can happen as well, I could annotate up to whatever point, say 10am EST then just leave the charts open until 4pm EST.
  6. BUT keep in mind, #1 is guaranteed while #2-5 are bonuses, so don’t take that into consideration when you calculate the value of this service.

Onto the more pressing issue, costs! How much is this going to cost?

  • I’ve mentioned time and time again in my video series that I never intend to charge anyone. Depending if I get a partner to do the back-end for me or not, that will determine which payment route I go.
  • If I do it myself, I will probably just attach this service as a bonus onto the tutoring promo. I haven’t worked out the details yet but will either give students access to this service as a bonus for a short time, then allowing them to extend it with payment.
  • If I do it with a partner, we’ll probably charge from the beginning.
  • Since this is unlike traditional signal services, the costs will be a fraction of what other people charge. BOPS charges $97/month, BOTS charges $97/2 weeks, BOB charges $198/month, etc. They average between $3.23 to $6.6 per day, I’d charge a fraction of that. So for a buck or two per day, this is definitely a good learning tool to have.

Lastly, I will most likely run a public trial for a couple days next week to let people see what they’d be getting. I just want to remind you all once again, that the primary purpose of this is to provide a learning tool to help people figure out how to draw S/R lines and trendlines. Of course, you’re more than welcomed to trade it (once again, to your discretion) and considering the minimal costs involved, some might be inclined to subscribe for long periods of time (or until you figure out how to draw them on your own).

PS: Once again, if you haven’t done so already, please go to my thread on BOD and comment there so that I can gauge the demand before developing this service further.

Kind Regards,
Brian

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