eToro – Forex Trading Forum

[Tropezienne]

I already keep a pips diary (in the Comments and Trading Trends forum) - which has helped me insofar as the results have been very erratic. How can erratic results help me ? Well, they simply show me that I have been trading in an erratic and, it has to be said, messy manner.

There are certain mistakes that I know I have repeated. The main one being that I often fail to stick to a strategy that I know works for me. I only ever deviate from this strategy when the filters tell me that there is no trade to pursue - I go looking for the trade, and I ignore any inconvenient filters.

How stupid is that ? Yeah, OK ….

So, I shall make my last entry in my pips diary this week and start a more detailed trading diary from next week which I shall publish each Friday in this forum.

Julie

http://who-gives-a-forex.blogspot.com/

[Tropezienne]

During a very unstable and uncertain week for all the major economies in the world my trading was predictably unpredictable.

I started the week using a tried and tested system that has always done very well for me. I used it successfully between July and the third week of September.

So I started this week Under the delusion that this system would override what was happening around me ! Stupid, I know … and here’s what happened :

Monday 6th October

I opened 2 virtually identical positions on the same pair, 3 minutes apart. I opened the second one beacause the first seemed strong. It went pear-shaped at that point. They more or less cancelled each other out !

I ended the day -1USD and -7Pips

[Tropezienne]

Tuesday 7th October

I should not have traded today. The market was far too volatile and my normally fail-safe system let me down. Four dreadful trades left me -117USD and -129 Pips.

Wednesday 8th October

A great day’s trading - I used eToro's Top Trader’s Insight combined with the currency correlation table that I have published elsewhere on this forum. Nine profitable trades - and one very bad one. This last one went against what I was seeing on the Top Traders’ Insight - so I held on for too long as you can see from the table.

Despite this bad trade I ended the day +218.58USD and +215Pips

Thursday 9th October

I didn’t have much time to trade today and wanted to test the Top Traders’ Insight again - this SELL of EURGBP was the result - I left it open for only 19 minutes and walked away +17.31USD and +8Pips. (I can't load the graphic for this trade as the limit per post is three attachments.)

My trading balance for the week is : 117.56USD and +117Pips

[Tropezienne]

There was no Trading Diary last week - because I didn't do any trading. Simply did not feel like it - so I stepped away.

Anyway, I've had a good week this week - and I've been thinking about what to include in this Trading Diary and what I want to achieve here.

I suppose that I need to log for each trade the pair being traded, whether it was a BUY or SELL position, the size of the trade and the gains or losses.

Then I will look at my decision process prior to opening the trade, during the trade and when I closed the trade - (that should be a hard one for me … my decision processes with regard to anything are pretty mysterious).

Finally, I will try to see what I have learned from each trade and the dEcision processes involved.

Here are my trades for the week :

As for my decisions - well, there was no involved analysis on my part. I simply used the 'Top Traders' Insight' - it worked very well except for the GBPJPY which had a completely opposite result to what I expected based on what the Top Traders were doing.