I kinda like the idea of keeping a trading journal, both as a method of accountability and a way to keep track of historical data about my trades. So here it is! I'm going to start at the beginning.
I purchased Forex Signal Mentor on Saturday, February 13th. Technically, it may have been Sunday morning, but I'm calling it late night. I went ahead and downloaded the main video modules and the indicators. I also signed up at the forum, sent a contact request to Loz on skype, and shot him a quick email( don't worry Loz, I'm really not that needy ).
For Sunday, I downloaded the Metatrader 4 platform from FXOpen, and installed the indicators. I watched the first five videos to get familiar with the platform, the basics, and the teaching style.
I've also watched video six, the first strategy video, twice so far. I think I have a handle on it, but after staring at the screen for so long I was going a bit nuts, and not thinking clearly. I went for a walk and mentally walked myself through a trade using strategy one, and I'm fairly certain I understand it.
Tomorrow,Monday the fifteenth, I'll be firing up the platform and looking for the signals to try method one. That will, of course, be the next post.
Early afternoon today I briefly reviewed my notes on strategy one, and fired up metatrader. I saw the formation that I was looking for, although both candles were much smaller than the ones used in the video. I went for it, and attempted to set the trade at 5 pips above the first open(they were bearish candles). I had to up it a hair, as I needed to be 10 pips above the current price.
It was on a four hour chart, so I went to work and checked it when I got home. I made six pips
I realize that this is a small victory(I set my take profit at 50 pips), and may still prove to be a poor trade, but I'm very pleased with myself for jumping in. I'll keep posting as the trade continues.
Edit 2/16: Woke up this morning and saw that my T/P was triggered and I got my 50 pips
Ok, I didn't get to put much time in during the day today-why is it I am always busiest on my days off of work? At any rate, I finally got a chance to look at the charts. I decided to stick with GBP/USD again, on a 4 hour chart. This time I saw bullish candles that looked okay for strategy one.
I put in a sell stop at 1.5766. I set my take profit for 1.5716, and placed a stop loss at 1.5877. I'll update with results as I see them.
This morning's trade didn't go in the direction I would have liked. My order was never actually triggered, so when I got home from work I modified the order to reflect the newer candle formations. I'll check it again in the morning.
Even with the adjustments to yesterday's trade, my pending order was never opened. This is a good thing, based on the direction the GBP actually went. My goal for tonight was to delete the order and look for another signal, but for some reason I'm having connection issues with MT4.
I'm taking it as a sign to move on until tomorrow. New trades then