tag:blogger.com,1999:blog-45626930494124291312011-11-27T15:43:59.193-08:00SLK Forex JournalMy journey...SLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.comBlogger100125tag:blogger.com,1999:blog-4562693049412429131.post-71057045884327974712010-04-20T23:19:00.000-07:002010-04-20T23:20:59.595-07:002010-04-20T23:20:59.595-07:0021 apr 2010I'm setting buy and sell and break of the two trend lines. Buy at 1.5421, sell at 1.5335SLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com1tag:blogger.com,1999:blog-4562693049412429131.post-30458880203706281412010-04-20T01:40:00.000-07:002010-04-20T20:07:41.980-07:002010-04-20T20:07:41.980-07:0020 April 2010Entered buy at 1.5350, have taken first TP, all stops moved to break even.Take profit 1 (50 pips) and take profit 2 (80 pips). Price reversed to hit breakeven stops.SLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com0tag:blogger.com,1999:blog-4562693049412429131.post-82404159290058806722010-04-15T20:46:00.000-07:002010-04-15T23:23:57.928-07:002010-04-15T23:23:57.928-07:0016 Apr 2010Sell stop at 1.5392, at break of trend line.SLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com1tag:blogger.com,1999:blog-4562693049412429131.post-52422248282738300902010-04-15T20:45:00.000-07:002010-04-15T20:46:39.444-07:002010-04-15T20:46:39.444-07:00Start to make a real conscious effort to focus on risk/reward and your trading performance will change dramatically.SLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com0tag:blogger.com,1999:blog-4562693049412429131.post-86324611247479394572010-04-15T20:29:00.000-07:002010-04-15T20:37:19.199-07:002010-04-15T20:37:19.199-07:00Be patient and plan each trade carefullyBe patient and plan each trade carefully. It can be very tempting to jump in and join the action, especially when it seems that others are making good pips but this strategy does not pay off in the long run. If you want to be a long-term player in this business, you need a plan and you need to stick to it.SLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com0tag:blogger.com,1999:blog-4562693049412429131.post-25580778355785403932010-04-15T20:18:00.000-07:002010-04-15T20:37:30.871-07:002010-04-15T20:37:30.871-07:00If you do not know who you are, the market is an expensive place to find outSLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com0tag:blogger.com,1999:blog-4562693049412429131.post-19066197549049511052010-04-13T23:31:00.001-07:002010-04-13T23:33:11.331-07:002010-04-13T23:33:11.331-07:0014 April 2010Buy stop set at 1.5490, sell stop set at 1.5385SLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com0tag:blogger.com,1999:blog-4562693049412429131.post-26852839396443325912010-04-13T06:10:00.001-07:002010-04-13T06:10:44.527-07:002010-04-13T06:10:44.527-07:0013 april 2010 updateI've moved all my stops to breakeven point. First take profit has already been hit. SLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com0tag:blogger.com,1999:blog-4562693049412429131.post-48853565484365752062010-04-12T23:15:00.000-07:002010-04-12T23:16:34.872-07:002010-04-12T23:16:34.872-07:0013 April 2010I've entered at 1.5385, 8 micro lots x 5, 5 different take profits, 50 pips stop lossSLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com0tag:blogger.com,1999:blog-4562693049412429131.post-44223322574635404402010-04-11T21:44:00.000-07:002010-04-11T21:46:15.608-07:002010-04-11T21:46:15.608-07:00Update from last week's tradeI've moved my stop loss up to 1.5396 as the price has gone up much higher over the weekend. First 3 take profits have been hit.SLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com0tag:blogger.com,1999:blog-4562693049412429131.post-51821461679231032242010-04-08T23:22:00.000-07:002010-04-09T01:05:55.636-07:002010-04-09T01:05:55.636-07:009 April 2010I'm setting up buy stops at 1.5310, 50 pips SL, TP1 50 pips, breakeven at 50 pips.Update: TP1 hit, at 50 pips. Adjust all stop loss to breakeven point.SLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com0tag:blogger.com,1999:blog-4562693049412429131.post-86580833094884023812010-04-08T23:14:00.000-07:002010-04-08T23:15:41.820-07:002010-04-08T23:15:41.820-07:00You can never go broke by taking a profit -- Meyer RothschildSLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com1tag:blogger.com,1999:blog-4562693049412429131.post-5447510552733835622010-04-08T20:55:00.001-07:002010-04-08T20:55:43.688-07:002010-04-08T20:55:43.688-07:00Only he who does nothing makes no mistakeSLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com0tag:blogger.com,1999:blog-4562693049412429131.post-53894462819190511722010-04-08T20:29:00.000-07:002010-04-08T20:55:02.895-07:002010-04-08T20:55:02.895-07:00Charles EllisIf you can't control your emotions, being in the market is like walking into a heated area wearing a backpack full of explosives -- Charles EllisSLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com1tag:blogger.com,1999:blog-4562693049412429131.post-15850928282282380542010-04-08T00:28:00.000-07:002010-04-08T01:54:32.736-07:002010-04-08T01:54:32.736-07:00First 50 pips taken, breakeven all other trades.Trade updateCame back to hit breakeven, total profit 3 microlots x 50 pips (take profit 1)SLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com0tag:blogger.com,1999:blog-4562693049412429131.post-68249897656767280222010-04-07T23:56:00.000-07:002010-04-07T23:58:04.845-07:002010-04-07T23:58:04.845-07:008 April 2010Sell stop entry: 1.5205Stop loss 50 pipsTP1 50 pipsSLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com0tag:blogger.com,1999:blog-4562693049412429131.post-48827979906305785212009-05-13T01:12:00.000-07:002009-05-13T01:13:49.592-07:002009-05-13T01:13:49.592-07:0013 May 2009There seems to be a trend line on the M10. If it's broken to the up side, I'll take the buy orders at about 1.5290SLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com0tag:blogger.com,1999:blog-4562693049412429131.post-57645704742568321512009-05-13T00:42:00.000-07:002009-05-13T00:58:46.283-07:002009-05-13T00:58:46.283-07:0013 May 2009Getting ready to set up today's trade. Let's have a look at the charts.I set sell orders at 1.5234. Would have used 1.5242 normally, but there was a spike right down to 1.5236 at around 5:40 this morning, so since it's really close to the 1.5241 low at 15:30 bar, I'll just set it at 1.5234 to be safe.SLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com0tag:blogger.com,1999:blog-4562693049412429131.post-61141178067078594742009-05-12T20:20:00.001-07:002009-05-12T20:22:14.416-07:002009-05-12T20:22:14.416-07:00Made $290 last night 12 May 2009Buy order open at about 4 pm, took the first 3 lots. Last lot taken at 50 pips. 50+80+110+50 pips, total $290 made last night.SLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com1tag:blogger.com,1999:blog-4562693049412429131.post-9576899174243018592009-05-11T19:01:00.001-07:002009-05-11T19:01:59.880-07:002009-05-11T19:01:59.880-07:00Secrets of a Successful Forex TraderThey say a wise man learns from his mistakes. A wiser man learns from other people's mistakes. So what have I learnt in these few months of trading? I've learnt a few golden rules.1. Patience. After losses after losses, you get patience pounded and drilled into your head. Until one day, you no longer feel that you've lost out if you didn't catch that big move.2. Don't be greedy. It's so much SLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com0tag:blogger.com,1999:blog-4562693049412429131.post-56308185971770921242009-05-11T18:02:00.000-07:002009-05-11T18:06:19.340-07:002009-05-11T18:06:19.340-07:00P/L as of 11 May 2009I think you would have gotten the hang of the whole thing by looking at the trades I've put up so far. Now, just rinse and repeat. If you carry on looking at the charts all the way through 11 May 2009, you'll see the trades went like this:So you see, there will be times where there's a string of losses. That's common in any strategy. That's the very reason why I can't trade big number of mini SLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com0tag:blogger.com,1999:blog-4562693049412429131.post-9146938317388975372009-05-11T18:01:00.000-07:002009-05-11T18:02:29.657-07:002009-05-11T18:02:29.657-07:0019 Feb 2009First lot taken at 50 pips. Account: $4879SLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com0tag:blogger.com,1999:blog-4562693049412429131.post-7770920107097305082009-05-11T17:58:00.001-07:002009-05-11T17:59:58.911-07:002009-05-11T17:59:58.911-07:0018 Feb 2009Trade went as far as 118 pips. First 3 lots taken. Account: $4829SLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com0tag:blogger.com,1999:blog-4562693049412429131.post-57994709421311270672009-05-11T17:56:00.001-07:002009-05-11T17:57:43.030-07:002009-05-11T17:57:43.030-07:0016 Feb 2009Here's an example of entering using break of trend line. Trade went as high as 136 pips. First 3 lots taken at 50, 80 and 110 pips. Last lot taken at 57 pips where it was protected just below a big pullback. Account: $4589SLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com0tag:blogger.com,1999:blog-4562693049412429131.post-35606326244785981562009-05-11T17:52:00.000-07:002009-05-11T17:54:58.995-07:002009-05-11T17:54:58.995-07:0017 Feb 2009Went as high as 71 pips. First lot taken at 50 pips. Account: $4349SLKhttp://www.blogger.com/profile/15559747344202704020noreply@blogger.com0