Millionaire State Of Mind
Well my first trade was a loss of -63 pips. No big deal at all. In the past I would begin to look for ways to create a better system...not this time around. I'm sticking with this through thick and thin.
Right now I have a pending sell stop in place at 1.3282 with a stop loss at 1.3325 (risking 43 pips) and a take profit at 1.3160 (targeting 122 pips). I've attached a screenshot of this pending trade.
Running Total: -63 pips
My sell stop from yesterday was triggered and is currently sitting at +86 pips as of right now.
I have moved my stop loss to lock in +5 pips if I am stopped out. My target will remain at 1.3160.
I've attached an updated screenshot.
I was stopped out on my last sell stop for +5 pips. I should have made much more on that trade but this new style of long term trading is a work in progress for me.
I didn't have time to post my updated screenshot of my last sell stop so I'm posting that now. As stated, that trade resulted in a +5 pips profit.
Running Total -58 pips
I entered a buy stop a few days ago and right now that trade has almost hit my take profit at 1.3404. I have moved my stop loss to 1.3339 which would give me +54 pips on this trade.
I have attached the original screenshot for the trade before it was triggered plus the updated screenshot of where it's currently at right now. Price in my eyes is facing a nice strong resistance point so I'm not sure if my take profit will be hit but I'm not going to panic and close out my trade. I will be more than happy with +54 pips if I was to be stopped out.
My buy stop was stopped out for a +60 pips profit. I then set up a sell stop that was triggered on Friday before the market closed at 1.3340. My stop loss is at 1.3402 (risking -62 pips) and my take profit is at 1.3236 (targeting +104 pips). I currently have a floating profit of +15 pips right now.
I've attached a screenshot of my current trade.
Running Total +2 pips
My last trade was a sell stop that was triggered at 1.3340. My take profit at 1.3236 was hit giving me a profit of +104 pips. I now have a buy stop in place at 1.3301 with a stop loss at 1.3232 (risking -69 pips) and a take profit at 1.3436 (targeting +135 pips).
I've attached a screenshot that shows my account history in the sub window of my chart and on the actual chart you can see my pending buy stop order.
Running Total: +106 pips
My pending buy stop is still sitting at 1.3301.
I'm very proud of myself for waiting for my trades to come to me and not chasing the trades. I've realized that if I can just be patient and follow my system, I can be successful in this business.
I know I'm far from where I will be in the future and that's my motivation to stay with my plan.
To all the traders out there who may be struggling and thinking of giving up, please keep going. You owe it to yourself and everybody who ever believe in you to continue to chase your dream. Try not to think about the money. Just think about trading according to whatever system you use. If you can trade without thinking about money, they say the money will come faster than you ever imagined.
I'm far from that place but I believe I will be there one day. I have a great woman in my life and she is not concerned with the 5 million dollar home and the material things in life. She has been my rock for many years and I'm going to make our dreams come true through my trading and any other opportunities I may come across.
I know I'm getting off topic a bit but I just wanted to say a few things that I feel can help others. If I help one person decide not to give up and keep pushing forward I'm more than happy with that.
I know my results are fresh and I only have a handful of trades under my belt but I believe and feel like I'm on the right path.
I wish all traders nothing but success and please always remember that when you make it to the top, rather than pulling up the ladder, pull up a hand instead.
My pending buy stop was triggered @ 1.3301. Curious to see how this plays out.
My buy stop at 1.3301 was triggered and I was stopped out on that position for -69 pips. I have another buy stop in place at 1.3290 with a stop loss at 1.3221 (risking -69 pips) and a take profit at 1.3425 (targeting +135 pips).
I've attached a screenshot showing this pending buy stop.
Running Total: +37 pips
I have updated my buy stop entry price from 1.3290 to 1.3272. I have attached a screenshot reflecting that change. My stop loss and take profit levels have been modified also due to my entry point changing.
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This is going to be my journal that I use to display my trades and also use to help me stay focused and on track.
I've been trading for close to 10 years with no success. I've been bouncing from one method to the next over the years and I'm tired of that struggle. So this is my fresh start. Everything I have accomplished in the past and struggled with is gone and out of sight. I can't live in the past so there is no need to dwell on it.
My personal goal is to try to average a profit of 10% per month. I know some will say this can be done and others will say it can't. I'm not concerned with that a great deal right now. I'm just going to trade and let the chips fall where they may.
I will be only trading EUR/USD as that is the pair I'm most comfortable with.
I will be using a demo account for this journal until I get comfortable enough to start with a small live account (probably $100). Once I'm very comfortable with the results, I will make a deposit to get my live account to a bigger amount.
For right now, I'm not worried about that as my focus right now is strictly demo trading.
I am using an indicator that I can't share because it's the indicator of a personal friend of mines and he sells it. I don't feel right sharing it when doing so will take money out of his pocket. So for the time being I will just post blank screenshots with my limit orders shown (all of my trades will be limit orders).
Right now I have a pending sell stop in place at 1.3240 with a stop loss at 1.3303 (risking 63 pips) and a take profit at 1.3117 (targeting 123 pips). I've attached a screenshot of this pending trade.
I currently work a full time job so I won't be active during the day but will update my journal each day once I get home from work (after 5:30pm PST).
Feel free to ask questions or leave comments but please keep in mind this is my personal journal so I won't be answering questions about what indicators I use and such (at least not right now). Also I'm a very positive person so if you don't have anything nice to say, please keep it to yourself. I won't entertain any negativity or allow it on my journal.
There is one indicator that I use that I found online and it is free and I have attached that indicator to my journal. I use it to just help me gauge the supply/demand areas on my chart. I'm not sure how accurate it is but it helps me and that's my main concern. Feel free to use it at your own risk. It's called SupDem.ex4
I wish all traders who stop by and read my comments or just browse nothing but the best in their trading journey. It's a journey that has its ups and downs but I truly believe that we all can achieve our dreams.