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Members of ForexSignalMentor.com How's your progress going? Post your results and if you need any extra one-on-one help, a good place to start is to post here and myself and others will help you.



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 Post subject: Trading Journal
PostPosted: Mon Feb 15, 2010 3:09 am 
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Joined: Sun Feb 14, 2010 1:33 am
Posts: 13
Hi,

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.

Thanks for reading,
Kevin


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 Post subject: Re: Trading Journal
PostPosted: Tue Feb 16, 2010 12:07 am 
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Joined: Sun Feb 14, 2010 1:33 am
Posts: 13
Monday, February 15th, 2010

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.

Image

It was on a four hour chart, so I went to work and checked it when I got home. I made six pips :D

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 :)


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 Post subject: Re: Trading Journal
PostPosted: Tue Feb 16, 2010 8:26 pm 
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Joined: Sun Feb 14, 2010 1:33 am
Posts: 13
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.

Image

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.


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 Post subject: Re: Trading Journal
PostPosted: Wed Feb 17, 2010 12:25 pm 
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Joined: Sun Feb 14, 2010 1:33 am
Posts: 13
I made my 50 pips on yesterday's trade, and went ahead and placed an order for today. Same situation, GBP/USD on a 4 hour chart. This time I saw white candles, so placed a buy stop.

Image


I'll post again later.


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 Post subject: Re: Trading Journal
PostPosted: Thu Feb 18, 2010 12:17 am 
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Joined: Sun Feb 14, 2010 1:33 am
Posts: 13
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.


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 Post subject: Re: Trading Journal
PostPosted: Fri Feb 19, 2010 12:20 am 
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Posts: 13
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 :)


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 Post subject: Re: Trading Journal
PostPosted: Fri Feb 19, 2010 1:59 pm 
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Joined: Sun Feb 14, 2010 1:33 am
Posts: 13
Back in the game!

For today, I decided to try looking at a daily chart instead of 4H. I'm still with the GBP/USD pair. I saw a bearish signal, so I went long.

Image


Because I went with a daily chart, I set my T/P at 100 pips, and went deeper with my stop loss than I had previously.

I also started watching the second strategy video, and I will be starting to implement it on Monday.


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 Post subject: Re: Trading Journal
PostPosted: Thu Mar 18, 2010 11:28 am 
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Joined: Sun Feb 14, 2010 1:33 am
Posts: 13
Just a quick note-the last month has been a bit hectic and challenging, but I'm back and ready to dive back in. I'll be posting more trades shorty :)

Kevin


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