Trading Diary Mon 27th July 09

Forex trades continue to lead the way and I'm on what you call a hot streak. This morning the breakout trade was in between two pivots. I was in and out in just over 10mins and cheeky enough to go in for another 8 pips a bit later. In total a nice 28 pips to start the week off on cable.

(Fig:1)

Entry was 16470 and exit was 18490, The ftse dropped like a stone on Ig charts and there was 25 pips available had I traded it. I'm looking for the ftse to show signs of more consistency before I start trading it on a regular basis again!

To Your Trading Success!

Trading Diary Frid 24th July 09

I was in Bromley at 9.30 to support the teaching of the new advanced traders. So sods law pound dollar would naturally take longer this morning.

I got in early at 16517 at 6.30am to scalp some points. I finally exited the trade at 8.40 after cable hit 530 and failed to significantly break that resistance. at times I had 23 pips but finally took 12. Great week with points readily available on breakout and 1 hour forex strategy.


I finished the week on a total of 80 pips and no loss. Many mechanical trades and this was what was more pleasing. Possibly my best week of trading, got much more in the past but was never as disciplined!

Off to teach the new advanced traders....They will be on the skype chat from Monday to start their trading careers!

Summary of week!

• 80 pips for the week


• No loss


• Mechanical Trading!

Have a great weekend!

Trading Diary Thurs 23rd July 09

Excellent trade today, the breakout tested my patience to say the least! I nearly got stopped out twice and the trade was longer than normal at 30 mins.

In the end I took 15 pips, it could not break 16530 and I was also very weary of an announcement due at 9.30. My rule is to be out at least an hour before any announcement. I stuck to it and banked the pips!

(Fig:1)

It was an excellent trade because I stayed calm when it was going against me. My stop loss was hidden under the Ma 20 not by design but because the 30 stop loss happened to be below it.

This saved me as it failed to go below this level and finally I escaped with 15 pips. A good mechanical trade and I gave it 8 out of 10!

To your Trading Success!

Trading Diary Wed 22nd July 09

Wednesday was a very messy day on my behalf, I Entered the trade twice in order to gain just over 15 pips. I wont bore you with the details. What I should have done is used the hour strategy which yielded 50 to 60 pips.


(Fig:1)
The 15 pips kept kept me going and I'm up on the week so far! But not good trading due to the multiple entry's....4 out of 10 for today's trades!

To Your Trading Success!

Trading Diary Tuesday 21st July

Nice pips available again this morning if you had played the one hour strategy. Unfortunately I didn't! I was very twitchy as you can see in the chart by my multiple entry's.

Got out of my original trade too early, I took 9 pips initially and had nearly 20 at one point on (Fig:1) my first entry. The reason for my irrational behaviour was based on the break of the first pivot.

The candle was retracting fast after it broke the pivot and I took 9 pips. Two green upward candles followed before a huge red. I should have stuck it out but you can never tell. I have seen huge retractions around pivots and then eventually the trade goes in the opposite direction.

My time frame means I only have a 20 - 30pips stop loss so you have to be careful,
I had that feeling so got out. I then noticed it coming back down and re-entered for another
7 pips. So 15 in total!

(Fig:1)


The trade looked a lot different on the 1 hour strategy, you have a wider stop loss and I would have easily taken 40 pips. I am not playing this correctly and there is potential to trade the breakout for 20 pips. Then enter on the hour if the signs are correct.....

(Fig:2)


I really need to focus more on the hour strategy as you can gain more points. But I have targets and as long as I get 20 pips per day then I'm happy. The name of the trading game is consistency.

I have been consistently winning since I started to purely focus on the breakout. I will increase my pounds per point if I have another two weeks at this level.

Have a fantastic Day!

Trading Diary Mon 20th July

The Bi monthly meeting for advanced mentees took place on Sunday 19Th of July at the Grosvenor hotel Victoria. This is used as a catch up to discuss how the strategies have been performing! The biggest concern was the ftse strategy, this gave us a few challenges this month.

Spoke to Marcus (Investment Mastery) about possibly using the strategy on the German Dax. But generally we went through the use of pivot points and some of the guys talked through bad trades. Feedback was given by the group and Master Trader Avi and Marcus de Maria.

I presented twice on the day and it was great to catch up with various faces on the skype chat to improve our trading!

I have heard many people talk about Mondays not being a good day to trade Fx. I personnel have not noticed this and tend to be more consistent on Monday than any other day of the week! It was a strong Morning for the three strategies I generally use.

Had I been brave enough there was over 100 pips up for grabs. Lets begin with Cable breakout. The trend of the morning was up and there was 4 pivot points below my short entry(See Fig 2 for better example).

Long entry point was 16420, in the end I got in at 16423.1 as cable broke the high of the morning. Unlike the previous weeks it struggled to find early momentum and I was in the trade for over an hour which is unusual! Total pips on trade 27 and positive start to the week!

(Fig:1)

The 1 hour strategy yielded 70 pips with entry at 8am (See Fig:2). Good old Adrian, cheeky bugger was not sure of breakout so left with 5 pips. He then got in again on the hour and adjusted his limit to 60 pips.

The candle shot up and he made his target pips for the day and then some by 9am. Had I adjusted my strategy and changed stop I could have gained 100 pips... OK 27 is still a great start for me so I shouldn't complain!

(Fig:2)

As mentioned above, ftse over the last four weeks has not played ball. Today it went like a rocket and gave 20 pips very quickly. It actually produced 25 pips, I did not trade it due to recent channeling!




Overall a strong morning for the strategies and trades!

To more trading success!

Day Trading Diary 17th

Got back half my loss from Thursday with the final day of trading this week. Still playing the cable breakout, tricky entry point due to the pivot point. Go in early and you face the problem that it will not break the S1 pivot. Go later and you miss the move and it retracts back against you.

Same as earlier in the week, the candle price action mixed with time and macd suggested a strong short and I went for it!

I made the decision to go in early which could have gone horribly wrong. Could I or should I have waited? The answer is yes, you should not in my opinion go in until the candle has closed below the pivot point.

It proved to be a good decision as the second of the three red candles screamed past the pivot point.


In total I gained 23 pips and could have taken more. I resisted this temptation to stay in the trade longer for fear of the previous days quick retraction!

I thought the behaviour could be similar so grabbed the 23 pips, Very keen to finish up on the week.

This weeks key learning points:

Think carefully before you get into a reverse trade after a loss. I know this already but was far too giddy from the weeks performance and should have protected profits! Another holy grail of trading that you need to keep remembering. Control your emotions!

Hope you had a successful trading week!