InvestSocial
Reply to thread
Page 273 of 286 268 271 272 273 274 275 278
Results 2,721 to 2,730 of 2855

Thread: bidyut's - Trading journal

  1. #1 You can automatically minimize the read posts in your account in the 'Forum Settings'
    I just can't quit pips!
    I am:
     
    bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut's Avatar
    Join Date
    Aug 2010
    Posts
    5,360
    Accumulated bonus
    4101 USD (What is this?)
    caught pokemons
    412 (What is this?)
    Thanks
    19,119
    Thanked 11,264 Times in 2,429 Posts
    SubscribeSubscribe
    Subsribed 1

    Default bidyut's - Trading journal

    Introduction: This is my first trading journal in mt5 forum and it is in a demo account. Ive opened a demo account with 500 USD balance. The main purpose of opening this demo account is only for making a trading journal in mt5 forum. Long time back our respected moderator dzin4aans had encouraged me to open a trading journal. But due to some unforeseen reasons I was unable to give attention in this regard. After looking at many trading journals available in this section Ive got some positive energy and a lot of good motivation to open my own trading journal. Now I think it is the right time to open a trading journal.

    Main motive of opening a trading journal: First of all I want to improve my trading by sharing my own trading system. By opening a trading journal here I would definitely get an opportunity to interact with other good traders. They can suggest, guide me for opting a better trading system. This is one of the best ways to engage myself in improving my existing trading strategy.

    Why Demo Account: This is my first trading journal in mt5 forum. Still I consider myself as a leraner and I want to improve my trading and it is only possible through demo account. Second reason is that I want to open a separate account (real trading account) for trding journal. But at this moment Im not fully prepared myself (financially) to open a real account for this purpose. In other hand I dont want to wait for long to start a trading journal. So my main motive here would be to engage myself in a good discussion where we can share knowledge and learn everything which is required to be a good trader.
    In future I would definitely go for a trading journal where I can show real profit in real account. Once I get ready for that I would definitely inform you all through this journal or through my signature.

    My strategy:

    Support & Resistance: From the very beginning I am trying to trade on support and resistance levels. So my main focus would be to see support and resistance levels of a particular pair on a daily basis before opening any order. Ill try to open orders by looking at support and resistance levels. Most probably my buy orders would be above support levels and sell would be below resistance. In addition Ill try to take decisions of opening any order by looking at price action.

    Price Action: It is important to watch in which direction a particular pair is moving where were going to trade. In simple words Price action gives us an idea where the price is moving. When I see 3 to 4 candles formed an upward trend in other words when few bull candles form an uptrend Ill go for a buy order. In opposite if I see few bear candles lined up in a row to form a downward trend, Ill go for sell order. So here I would go for trading on any pair by following price action.

    Chart Type: I would like to trade in a clearly visible chart and I consider candle stick chart as a best option for me. I do not use too much indicators. Itll consists of only support and resistance levels.
    Time Frame: I prefer to see 1 hr, 4 hours, daily time frames to decide where the price is moving or to predict the actual trend I will go for these time frames. To open any order or to check entry point Ill go for only 1 hour chart.

    News Events: As we know fundamental or economical news are very important to watch while taking any trading decisions. Ill keep an eye on day to day news events to trade. The best way to watch any types of news events is through economic calendar. Most of the movements take place in any particular pair due to news releases. Even technical trader cant ignore the importance of fundamental news or any economic data releases (e.g. NFP) etc. Sometimes I would stop trading during high impact news. In other words Ill be very careful during news events and try to avoid trading in case there are no clear movements.

    Lot Size: I would go for 0.10 LOT size (per order) at the very beginning. I may go for many orders at a time but not more than 1 LOT in total. For example, 10 orders with 0.10 lot size orders. Sometimes I may go for averaging my trades by taking additional lot size orders. Gradually I will try to increase the lot size orders with growing account balance.

    Target: Anywhere from 10 to 100 pips. I can decide only after looking at the levels. Sometimes I may not give any target and close all orders manually.

    Stop Loss: Ill try to put a stop loss in some trading positions but not in all trading positions. Again itll depend on the levels and also in the movement of a particular pair. In case I put stop loss in any pair itll be around 50 pips.

    Long term or short term: My goal would be to take profit from every trade in a short term period. I prefer short term trades because it is easy for me to handle. In case I see slow movements in any trade Ill keep the order for long hours and definitely wait for the price to trigger the target ( if I put TP).

    Trading Pairs: I would like to trade on major pairs (EURUSD, GBPUSD etc.). Also I would go for high volatility pairs for example, GBPNZD, GBPJPY etc. Sometimes I will try to trade in Gold and Silver if I get good confirmation.

    Risk-Reward Factor: As it is not a contest account Ill try to go slowly. I believe in steady growth and not in sudden growth as far as forex trading is concerned. I would only go for 5% to 10% risk, and not more than that. Similarly, Ill try to make decent profit from every trade. If I see it is worth to wait for a particular trading position then Ill wait for it to get more profit out of it. For any trader to sustain in the market is more important than anything else, so I will try to avoid any unnecessary risk. Sometimes I would go for cut losses in the form of stop loss or by closing manually. Once we learn how to manage risk well automatically able to grow our trading account to a satisfactory level.

    To my fellow members: I hope there is no doubt about my trading plan. I do not want to complecate things, so Ill try to elaborate every trade with clarity. Im ready to answer you if youve any questions regarding my trades or anything related to my trading journal. Ill be grateful if we can stick to the topic and not talk about anything off topic in this section. Your good suggestions are always welcome. Thanks to everybody for visiting here. Lets start together!
    Last edited by bidyut; 15-11-2017 at 01:20 PM.


  2. #2721 You can automatically minimize the read posts in your account in the 'Forum Settings'
    I just can't quit pips!
    I am:
     
    bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut's Avatar
    Join Date
    Aug 2010
    Posts
    5,360
    Accumulated bonus
    4101 USD (What is this?)
    caught pokemons
    412 (What is this?)
    Thanks
    19,119
    Thanked 11,264 Times in 2,429 Posts
    SubscribeSubscribe
    Subsribed 1
    Update on 20th April 2021 (Update: 30)

    Hello everybody, on 17th and 18th April 2021 I've opened a few buy orders in BTC. Unfortunately, all positions hit stop losses. The price had hit a huge downfall during the last weekend. In total, I've lost about 160.43 from those positions. As I've already mentioned about my BTC trades in my last post. I've also mentioned its high volatility nature. That's why it is suggested to put stop loss beforehand. BTC is still in a bearish mode and the current price is at 54827.31. Now I'm looking at other major pairs and avoiding BTC trading for a while. Let's talk about other instruments.

    My Previous Positions (Demo Account)

    Name: My positions hit stop loss.PNG Views: 608 Size: 21.4 KB

    US Dollar Index Analysis

    The US Dollar Index continues to go down. Yesterday the price had faced a big drop. Today too we can see small bear candles in the 4 hours chart. In the daily chart also we can see bearish movement. More likely the price would fall further below to hit the immediate support i.e. 90.80. If it is broken then the next support will be at 90.54, followed by 90.08 and 89.62.

    On the other hand, 91.52 is the immediate resistance. A break above the level will fuel further gains. However, the Dollar Index has dropped more than one month low. There is no signal of reversal. The weakness in this particular instrument is already visible across all major pairs. More likely the price of the Dollar Index will fall further to cross all major support levels. We can find other subsequent support levels at 90.54, 90.08 and 89.62.

    Today's Support And Resistance Levels

    Pivot: 91.26
    R1 91.52
    R2 91.98
    R3 92.24
    R4 92.50
    S1 90.80
    S2 90.54
    S3 90.08
    S4 89.62

    4 Hour's Chart

    Name: #USDXH4-Analysis.png Views: 974 Size: 33.5 KB

    EURUSD Analysis

    The overall trend of EURUSD is strongly bullish. Currently, the price is trying to approach the immediate resistance i.e. 1.2075. An upside break can fuel the price to reach up to 1.2114, i.e. 2nd resistance. Subsequently, 1.2180 and 1.2247 will be the other resistance levels.

    On the downside, 1.1970 is considered as its next support level. Any dip below the level may take the price towards 1.1904, i.e. 2nd support for today.

    If we look at the 4 hours chart then we'll find that the price action suggests a strong bullish bias. In the daily chart also we can see strong bullish candles. However, the Stochastic Oscillator indicator is showing overbought condition. The bias is strongly bullish above 1.2075 resistance.

    Today's Support And Resistance Levels

    Pivot: 1.2009
    R1 1.2075
    R2 1.2114
    R3 1.2180
    R4 1.2247
    S1 1.1970
    S2 1.1904
    S3 1.1865
    S4 1.1827

    4 Hour's Chart

    Name: EURUSDH4-Analysis.png Views: 595 Size: 34.7 KB

    GBPUSD Analysis

    GBPUSD pair is also moving towards up. The pair is extending gains for the 7th straight day. More likely the price would be able to go up to cross the near term resistance level. We can find the next resistance at the 1.4045 price level. Any break above the level may take the price towards the 2nd resistance, i.e., 1.4109. Subsequently, 1.4227 and 1.4345 are other resistances.

    On the lower side, immediate support is seen at 1.3863, a break below could take the pair towards 1.3745. However, there is no sign of a downward trend. Because in all time frames the price action is indicating a strong bullish bias. We can say the overall trend is still bullish as long as the price stays above support 1.3863.

    Due to weakness in USD, we've seen a massive gain in the GBPUSD pair. There are no major economic events related to the Pound and USD. Therefore, we can expect that the price would continue to go up in a well defined bullish slope. Any break above 1.4045 confirms further bullishness.

    Today's Support And Resistance Levels

    Pivot: 1.3927
    R1 1.4045
    R2 1.4109
    R3 1.4227
    R4 1.4345
    S1 1.3863
    S2 1.3745
    S3 1.3681
    S4 1.3617

    4 Hour's Chart

    Name: GBPUSDH4-Analysis.png Views: 597 Size: 33.3 KB

    USDJPY Analysis

    The USDJPY is almost flat at current levels. If we look at the daily chart then we'll find a strong bearish trend. As long as the price stands above the key support level we can expect more consolidation. The immediate support is seen at 107.82. Any dip below the support may force the price to hit the subsequent support level, i.e. 107.52.

    Immediate resistance can be seen at 108.63. A break above the level can trigger a rise towards 109.14. Subsequently, other resistance levels are at 109.44 and 109.75. Currently, there is no indication of a reversal. Because of the weakness in the US Dollar, the pair is still struggling to recover its earlier losses. So here we could see a further downward slide below the immediate support level.

    Today's Support And Resistance Levels

    Pivot: 108.33
    R1 108.63
    R2 109.14
    R3 109.44
    R4 109.75
    S1 107.82
    S2 107.52
    S3 107.01
    S4 106.51

    4 Hour's Chart

    Name: USDJPYH4-Analysis.png Views: 589 Size: 32.9 KB

    Approved

  3. 17 users say Thank You to bidyut for this useful post.

    alimat1 (20-04-2021), AwaisSharif (20-04-2021), ayan555 (20-04-2021), ayat16317 (20-04-2021), fadilah (20-04-2021), Farnadus007 (20-04-2021), Forex Mate 07 (20-04-2021), fozia143 (20-04-2021), global20 (20-04-2021), Honey Bee (20-04-2021), howtoforextrade (21-04-2021), Interlock (20-04-2021), loaded-prof (20-04-2021), MUMTAZKHAN (20-04-2021), PhilipOscar (20-04-2021), Prisha (20-04-2021), tradingforex (21-04-2021)

  4. #2722 You can automatically minimize the read posts in your account in the 'Forum Settings'
    I just can't quit pips!
    I am:
     
    bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut's Avatar
    Join Date
    Aug 2010
    Posts
    5,360
    Accumulated bonus
    4101 USD (What is this?)
    caught pokemons
    412 (What is this?)
    Thanks
    19,119
    Thanked 11,264 Times in 2,429 Posts
    SubscribeSubscribe
    Subsribed 1
    Update on 21st April 2021 (Update: 31)

    Hello everybody, once again welcome to my trading journal. Due to the lack of any major economic events we've seen limited movements in most of the currency pairs. However, we have had some economic data releases related to the Australian dollar and New Zealand dollar. The Australian retail sales were up 1.4%. On the other hand, the New Zealand Consumer price index was also released and it was up by 0.8%. However, we couldn't see any significant movements in these currency pairs.

    Yesterday I've not able to see any good setup to trade. Most of the currency pairs were almost flat. However, we've seen some recovery attempts by the US Dollar Index. After losing to almost 7 weeks lower level the US Dollar Index can find some support. Let's discuss it in detail.

    US Dollar Index Analysis

    The US Dollar Index is trying to find some support at 90.92 after hitting a multi-week low level. Immediate resistance can be seen at 91.34, an upside break can trigger a rise towards 91.50. On the downside, immediate support is seen at 90.92, a break below could take the pair towards 90.66, i.e. 2nd support for today.

    Despite showing some recovery attempts the US Dollar Index is still under bearish pressure. In the 4 hours chart, the movements are almost flat. On the daily chart, there are no significant movements as well. Here we've to be very careful to read the overall trend of this particular instrument. A break above 91.34 resistance required for any upside continuation.

    Today the US Dollar Index is trying to hold previous sessions gains. In the daily chart, the stochastic oscillator is turning up from oversold levels. However, in the 4 hours chart the indicator is showing overbought conditions. In such a situation we can't expect any clear trend. In the short term, we may see some consolidation. However, in the long run, the price could go up.

    Today's Support And Resistance Levels

    Pivot: 91.08
    R1 91.34
    R2 91.50
    R3 91.76
    R4 92.01
    S1 90.92
    S2 90.66
    S3 90.50
    S4 90.33

    4 Hour's Chart

    Name: #USDXH4-Analysis.png Views: 553 Size: 35.2 KB

    EURUSD Analysis

    The EURUSD pair halted its bullish trend and is now trying to break the immediate support i.e. 1.2012. Any dip in price action below the support will see further downside. Due to some recovery in the US Dollar Index, we can see some downward movement in the EURUSD pair. Despite some weakness in the EURUSD pair, there is no clarity yet in the trend. After hitting multi-day highs a day earlier the price has been falling to hit the immediate support. The next support is seen at 1.1988. Further decline in the currency could take the pair towards 1.1955.

    Immediate resistance can be seen at 1.2069, an upside break can trigger a rise towards 1.2102, i.e. 2nd resistance.

    If we look at the 4 hours chart then we'll find that the price action is forming higher high and higher low levels. In such conditions prices always move towards up. EURUSD is trading with good bullish strength for a third consecutive week and hits the highest level since 4th March 2021.

    In the short term, for example, in the 4 hours chart, we may see some consolidation. But the overall trend is still bullish. Once the price crosses the strong resistance i.e. 1.2069, we may see further upside movement in this particular currency pair. The bias is bullish above the immediate resistance.

    Today's Support And Resistance Levels

    Pivot: 1.2045
    R1 1.2069
    R2 1.2102
    R3 1.2126
    R4 1.2149
    S1 1.2012
    S2 1.1988
    S3 1.1955
    S4 1.1921

    4 Hour's Chart

    Name: EURUSDH4-Analysis.png Views: 529 Size: 32.6 KB

    GBPUSD Analysis

    Today the GBPUSD pair has lost its ground and is now trading above the 1.3904 support level. On the downside, 1.3874 is possibly seen as its subsequent support level. Since yesterday the price has been trending towards down. But the price can sustain above the immediate support. Yesterday the price started to fall after hitting a multi-day high level. In the 4 hours chart, we can see a clear bearish movement. On a daily chart also we can see a strong bearish candle.

    As long as the price stands above the immediate support i.e. 1.3904 we may see some consolidation. Furthermore, if the price sustains above the support and is able to reverse then we may see some good recovery. The next hurdle will be the 1.3986, i.e. the 1st resistance. The price would need to cross the resistance to continue its long term bullish move.

    Today's Support And Resistance Levels

    Pivot: 1.3956
    R1 1.3986
    R2 1.4038
    R3 1.4068
    R4 1.4099
    S1 1.3904
    S2 1.3874
    S3 1.3822
    S4 1.3771

    4 Hour's Chart

    Name: GBPUSDH4-Analysis.png Views: 526 Size: 35.4 KB

    USDJPY Analysis

    The USDJPY is almost flat and trying to consolidate above strong support. It is facing strong support at 107.85, any break below targets 107.63, i.e. 2nd support. Despite some steadiness in the USDJPY pair, we can see some weakness. There is no sign of recovery even after falling to the multi-week lowest level.

    Immediate resistance is located at 108.42, any close above will push the pair towards 108.77. From a technical perspective, the pair is strongly bearish. With the weaker US dollar and a lack of any major economic events, the price of the pair is almost flat and moving in a very limited range.

    The price of USDJPY has already fallen to the multi-days lower level. From here we can expect some recovery. However, any significant trend reversal is only possible if it breaks the immediate resistance, i.e. 108.42. Expected to see some directional move from the pair. The pair should need to break any one of the levels to show a good trend. The overall bias is still bearish below 107.85 support.

    Today's Support And Resistance Levels

    Pivot: 108.20
    R1 108.42
    R2 108.77
    R3 108.99
    R4 109.21
    S1 107.85
    S2 107.63
    S3 107.28
    S4 106.93

    4 Hour's Chart

    Name: USDJPYH4-Analysis.png Views: 521 Size: 34.5 KB

    Approved

  5. 11 users say Thank You to bidyut for this useful post.

    ayat16317 (21-04-2021), fozia143 (21-04-2021), GokBoru (21-04-2021), Interlock (21-04-2021), PhilipOscar (21-04-2021), Prisha (21-04-2021), rezwanfx (21-04-2021), Romanrein (21-04-2021), ShantiMan (21-04-2021), Sunclock (21-04-2021), SweetRose (22-04-2021)

  6. #2723 You can automatically minimize the read posts in your account in the 'Forum Settings'
    I just can't quit pips!
    I am:
     
    bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut's Avatar
    Join Date
    Aug 2010
    Posts
    5,360
    Accumulated bonus
    4101 USD (What is this?)
    caught pokemons
    412 (What is this?)
    Thanks
    19,119
    Thanked 11,264 Times in 2,429 Posts
    SubscribeSubscribe
    Subsribed 1
    Update on 22nd April 2021 (Update: 32)

    Hello everybody, welcome to my trading journal. Yesterday I opened two sell orders for crude oil. When the price was falling I opened two orders at different price levels. The first order was at 61.03 and the second one was at 61.35. On the other hand, I put stop losses at 61.77 for both sell positions. Unfortunately, both sell positions in crude oil hit stop loss level. I've lost about $61 from those positions. However, I was trading in my demo account only.

    Before losing the positions in the form of stop loss hit, I was gaining some profit. But I didn't close those positions in profit because I was very much sure that the price would fall further. Currently, crude oil is trading at 61.73 after hitting a multi-day low level. Let's discuss it in detail.

    My yesterday's positions (demo account)

    Name: My positions hit stop loss.PNG Views: 501 Size: 12.1 KB

    Crude Oil Analysis

    Crude oil hits multi-day lows and is currently trading around 61.73 price level. Strong support is seen at 60.45 and any break below could take the pair towards 59.82. In the daily and 4 hours chart, the price action shows a bearish trend. However, we can see some recovery attempts by the instrument. The next possible resistance for crude oil is seen around 62.13. Subsequently, 63.18 and 63.81 are likely seen as the next resistance levels.

    There is a fear that the demand for crude oil in certain countries may drop due to the sudden surge in coronavirus infections. Canada, the largest exporter of crude oil fears that India may impose restrictions in importing crude oil due to the pandemic situation. Because India is the 3rd largest importer of crude oil and currently dealing with an increasing number of covid-19 patients.

    From a technical perspective, Crude oil is strongly bearish. The Stochastic Oscillator is showing a bearish signal in the daily chart. However, in the 4 hours chart, the price is trying to go up after hitting a multi-day low level. The bias is strongly bearish below the 60.45 support level.

    Today's Support And Resistance Levels

    Pivot: 61.50
    R1 62.13
    R2 63.18
    R3 63.81
    R4 64.44
    S1 60.45
    S2 59.82
    S3 58.77
    S4 57.72

    4 Hour's Chart

    Name: #CLH4-Analysis.png Views: 493 Size: 36.4 KB

    US Dollar Index Analysis

    The US Dollar Index has shown some mixed trends in the last two days. Yesterday the price was able to go up and touched the 91.41 price level. But unable to maintain its recovery attempts. Now the instrument is trading above a strong support level i.e. 90.97. Despite showing another recovery attempt the US Dollar is still under bearish pressure. Any dip below 97.97 support level confirms a bearish continuation.

    From a technical perspective, the US Dollar Index faces near-term resistance at 91.31. Any break above will take till 91.52, i.e. 2nd resistance. The overall trend is still bearish as long as resistance 91.31 holds. There is a lack of directional movement in the instrument. We can say the price is hovering within a limited range. As long as the price stays above a strong support level we could see further consolidation. The bias is strongly bearish below 90.97 support.

    Today's Support And Resistance Levels

    Pivot: 91.18
    R1 91.31
    R2 91.52
    R3 91.65
    R4 91.77
    S1 90.97
    S2 90.84
    S3 90.63
    S4 90.41

    4 Hour's Chart

    Name: #USDXH4-Analysis.png Views: 485 Size: 35.6 KB

    Gold Analysis

    Today we've seen some downward movement in Gold. The Gold is facing strong support at 1780.18. Any break below will drag the pair down to 1767.37, the second support for today. However, this seems that Gold is in a corrective mode. After hitting a multi-day high level the price has fallen a little. From here we can expect that the price would rise again.

    Immediate resistance can be seen at 1801.46, an upside break can trigger a rise towards 1809.93, i.e. 2nd resistance for today. More likely the price would be able to sustain above 1780.18 i.e. 1st support. In the 4 hours chart, we can see higher high and higher low candlestick formation. This implies that traders would like to buy at current levels.

    On the other hand, the daily chart shows a strong bullish trend. However, the Stochastic Oscillator is still showing overbought conditions. The overall trend is still bullish as long as support 1780.18 holds. The bias is strongly bullish above 1801.46.

    Today's Support And Resistance Levels

    Pivot: 1788.65
    R1 1801.46
    R2 1809.93
    R3 1822.74
    R4 1835.56
    S1 1780.18
    S2 1767.37
    S3 1758.90
    S4 1750.44

    4 Hour's Chart

    Name: GOLDH4-Analysis.png Views: 2490 Size: 41.0 KB

    My current positions (demo account)

    A few minutes back I've opened two positions in two different instruments. The 1st position is in Gold. I've opened a buy order in Gold at 1787.40 with 0.01 lot size volume. The second position is in Crude oil. I've opened a sell order in Crude oil at 61.29 with 0.01 lot size volume.

    Name: My current positions.PNG Views: 484 Size: 12.9 KB

    Approved

  7. 12 users say Thank You to bidyut for this useful post.

    alimat1 (23-04-2021), apna_papa (22-04-2021), fadilah (22-04-2021), Fxtechno (22-04-2021), GENERAL (22-04-2021), Interlock (22-04-2021), Muzamilarshadfx (24-04-2021), PhilipOscar (22-04-2021), Randy_Liverpool (22-04-2021), rescue1122 (22-04-2021), rezwanfx (23-04-2021), Youcefstyles (22-04-2021)

  8. #2724 You can automatically minimize the read posts in your account in the 'Forum Settings'
    I just can't quit pips!
    I am:
     
    bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut's Avatar
    Join Date
    Aug 2010
    Posts
    5,360
    Accumulated bonus
    4101 USD (What is this?)
    caught pokemons
    412 (What is this?)
    Thanks
    19,119
    Thanked 11,264 Times in 2,429 Posts
    SubscribeSubscribe
    Subsribed 1
    Update on 23rd April 2021 (Update: 33)

    Hello everybody. Yesterday I opened a few positions in Gold and Crude oil. I've opened two sell orders in crude oil and two buy orders in Gold. All positions are now running in good profit. I'm getting almost $18 to $19 from my running positions. This can be considered as a good profit. But I'll try to hold the positions to gain more profit. I would like to clarify that this is a demo trading account and not a live trading account. Let's discuss my current positions one by one.

    My running positions

    Name: My positions.PNG Views: 463 Size: 19.3 KB

    My current positions in Gold

    Yesterday I opened two buy orders in Gold at two different price levels. The first order was placed at 1787.40 with a 0.01 lot size. The second buy order was placed at 1782.67 with the same volume. At the moment both positions are in good profit. However, I've not put any stop loss or profit in my positions.

    At the moment Gold is trading at 1793. The Gold is trying to go up after going through some correction. In the 4 hours chart, we can see bull candles. In the daily chart also the price is trying to show good uptrend movement.

    On the upside, the immediate resistance can be seen at 1795.01. So my initial target is at 1795.01. I'll try to hold the positions till the price reaches that level. On the other hand, strong support is seen at 1774.62. If the price falls to the strong support level then I'll try to open more buy positions there.

    The price has already reached 1793. So I hope the price will be able to reach my initial target i.e. 1795.01. Today is Friday the last trading session of this week. More likely I would like to exit from my positions with good profit.

    In my last post, I've already mentioned Gold's uptrend movement. In the 4 hours chart the price action already formed higher high and higher low levels. So we can expect the price will continue to rise.

    4 Hour's Chart

    Name: GOLDH4-Chart.png Views: 457 Size: 37.9 KB

    My current positions in Crude Oil

    I've two sell positions in crude oil. Now both positions are in little positive. I've placed the first sell order at 61.29 and the second sell order at 61.57. The current price of crude oil is 61.30. In the daily chart, we can see strong rejection near-immediate resistance. In early trading hours, the price was trying to go up. But unable to cross the immediate resistance, i.e. 62.14. In the 4 hours chart, we can see two bearish candles. The immediate support can be located at 60.90. So my initial target is 60.90. I'll try to hold the positions till the price reaches that level.

    On the other side, strong resistance can be seen at 62.14. However, the price was unable to touch the resistance despite some recovery attempts. So we can assume that the price will continue to go in a downward direction. It is better to sell on rallies.

    4 Hour's Chart

    Name: #CLH4-Chart.png Views: 454 Size: 36.4 KB

    Approved

  9. 6 users say Thank You to bidyut for this useful post.

    Ch saab (24-04-2021), DaniBaBa (23-04-2021), global20 (24-04-2021), Muzamilarshadfx (24-04-2021), Romanrein (23-04-2021), SweetRose (23-04-2021)

  10. #2725 You can automatically minimize the read posts in your account in the 'Forum Settings'
    I just can't quit pips!
    I am:
     
    bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut's Avatar
    Join Date
    Aug 2010
    Posts
    5,360
    Accumulated bonus
    4101 USD (What is this?)
    caught pokemons
    412 (What is this?)
    Thanks
    19,119
    Thanked 11,264 Times in 2,429 Posts
    SubscribeSubscribe
    Subsribed 1
    Update on 24th April 2021 (Update: 34)

    Hello everybody, today and tomorrow the forex market remained closed. But those who do cryptocurrency trading can continue their trades. Yes, this is true that we can do cryptocurrency trading during the weekend also. Instaforex is one of the leading forex brokers where we can find hundreds of instruments.

    I occasionally do trade in BTC. Last week I tried to trade in BTC. Unfortunately, I've lost a lot in those trades. I'm not a regular trader in BTC. I need more practice and good knowledge in doing BTC trading or any related cryptocurrencies. I've lost about $160.43 in BTC trading including commissions. I've opened 4 positions in total ranging from 0.01 to 0.05 lot size orders.

    Last Week's Performance (demo account)

    Name: Last Weeks Performance.PNG Views: 449 Size: 27.5 KB

    Name: My Last Week's Performance.PNG Views: 439 Size: 34.5 KB

    I was strongly bullish on BTC. When the price was falling I placed a buy order in a hope that the price will rise again. Unfortunately, it never happened and the price continues to fall to hit my stop losses. Despite losing so much, the good thing about my trades was that I never forget to put stop losses.

    Last week I've also lost more than 50 bucks in Crude oil. My analysis was good but I entered at the wrong time. I short two positions in the Crude oil with 0.05 lot size each. But later the price hit the stop losses. I didn't close when I was getting good profit. Here I would like to say, we should accept stop loss hits. Because to protect our trading account we should put stop loss in our positions.

    My current positions (demo account)

    Name: My-Current-Positions.PNG Views: 433 Size: 31.7 KB

    Yesterday after updating my trading journal I've opened more positions in Gold and Crude oil. Two buy positions in Gold and two sell positions in Crude oil. In total, I've now 8 positions in these two instruments. When I was updating my trading journal at that time I was in good profit. But after some time, the prices of both instruments started to move in the opposite direction. Later I've added more positions. Now I'm in floating loss and it is about $34.16.

    My Current Positions in Crude Oil (demo account)

    In the short term, we may see many ups and downs. Due to correction, the price may consolidate within a limited range. Crude oil is going up in the 4 hours chart. But at the same time, the price action is forming lower high and lower low levels. The immediate resistance can be found at 62.14. More likely the price would fall after some consolidation around the resistance area. Because this is a short term bull rally. This is a good opportunity to short at current levels. Along with technical reasons, I found fundamental reasons also to make sell positions in the instrument. Due to the covid-19 pandemic situation, the demand for Crude oil may reduce in certain countries. And that is one of the reasons for placing sell orders in crude oil despite seeing floating loss. My initial target is around the 1st support level i.e. 60.90.

    4 Hour's Chart

    Name: #CLH4-Chart.png Views: 434 Size: 38.4 KB

    My Current Positions in Gold (demo account)

    Yesterday the price of Gold was able to test strong resistance around 1795 but quickly fell to the current level. I've added more buy positions in Gold when the price was falling. In the short term, we may see some consolidation around the current level. Strong support can be found at 1774.62. More likely the price would rise again. My initial target is around 1795 i.e. the 1st resistance for today. I've not put any take profit or stop losses in my positions. I'm expecting that the price will be able to rise again from the current support area.

    4 Hour's Chart

    Name: GOLDH4-Chart.png Views: 435 Size: 36.8 KB

    Approved

  11. 8 users say Thank You to bidyut for this useful post.

    apna_papa (24-04-2021), Batavia (25-04-2021), Carolyn (25-04-2021), fadilah (24-04-2021), Forex Mate 07 (24-04-2021), Muzamilarshadfx (24-04-2021), rescue1122 (25-04-2021), Wasiliyus (25-04-2021)

  12. #2726 You can automatically minimize the read posts in your account in the 'Forum Settings'
    I just can't quit pips!
    I am:
     
    bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut's Avatar
    Join Date
    Aug 2010
    Posts
    5,360
    Accumulated bonus
    4101 USD (What is this?)
    caught pokemons
    412 (What is this?)
    Thanks
    19,119
    Thanked 11,264 Times in 2,429 Posts
    SubscribeSubscribe
    Subsribed 1
    Update on 26th April 2021 (Update: 35)

    Hello everybody, I've few positions opened in my demo trading account. In my previous post, I've updated in detail. I've 4 buy positions in Gold and 4 sell positions in Crude oil. I've opened all these positions at different price levels. Now the prices of both instruments are moving as per my expectations. A few minutes back I was getting almost $8 profit from my existing positions. But now the positions are floating in negative. Today I've set the take profit and stop loss into my trading positions. Let's discuss it one by one.

    My current positions (demo account)

    Name: My current positions in crude oil and gold.PNG Views: 2422 Size: 32.4 KB

    My Current Positions in Crude Oil

    On 22nd and 23rd April, I've opened 4 sell positions in Crude oil. I was very much sure that the price would continue to fall after some consolidation. At the moment the price of Crude oil is falling and trying to approach the immediate support level, i.e. 61.39. I put take profit at 60.75 i.e. the 2nd support for today. This is my initial target for today and also a strong support. On the other hand, the immediate resistance is at 62.55. I've set the stop loss at 62.60, i.e. just above the resistance level.

    I've opened 4 positions at different levels. When the price was moving in the opposite direction I've tried to open more positions in this particular instrument. I'm not taking any high risk here and tried to open small lot size orders. In total, I've 0.04 lot size i.e. 0.01 lot for each position.

    4 Hour's Chart

    Name: #CLH4-Chart.png Views: 408 Size: 40.4 KB

    My Current Positions in Gold

    Last week I've also opened 4 buy positions in Gold. I've tried to open when the price action was forming higher high and higher low levels. When price action forms such patterns we can go for trading. Gold has been moving strongly towards up. So I've decided to open buy orders at small dips. In total, I've opened 4 positions at different price levels. Today I've set stop loss and take profit for all positions.

    My take profit is at 1791.00. Because we can find the first resistance at 1791.49. So I've decided to put take profit just below the level. On the other hand, I've set the stop loss at 1760.00. The immediate support can be found at 1765.57. Therefore, I've decided to put stop loss just below the support level.

    4 Hour's Chart

    Name: GOLDH4-Chart.png Views: 412 Size: 43.1 KB

    I'm very much optimistic about Gold that it'll go up. The US Dollar Index is showing weakness. In such a condition Gold will get more attention. Investors and traders will go for buy orders in Gold in this situation.

    On the other hand, Crude oil may fall further below the immediate support. As mentioned in my previous post, due to the pandemic situation there is a fear that the demand for Crude oil may reduce. Thus, the price may fall further below the current level. Anyways, I'm ready to hold the positions till the price hits the take profit level.

    Today's Economic Events

    Name: Economic Events.PNG Views: 398 Size: 13.5 KB

    Approved

  13. 13 users say Thank You to bidyut for this useful post.

    alimat1 (26-04-2021), Ch saab (26-04-2021), DaniBaBa (26-04-2021), fadilah (26-04-2021), Forex Mate 07 (26-04-2021), global20 (26-04-2021), grasper (26-04-2021), Interlock (26-04-2021), loaded-prof (26-04-2021), rescue1122 (26-04-2021), ShantiMan (26-04-2021), sophiafx (26-04-2021), SweetRose (26-04-2021)

  14. #2727 You can automatically minimize the read posts in your account in the 'Forum Settings'
    I just can't quit pips!
    I am:
     
    bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut's Avatar
    Join Date
    Aug 2010
    Posts
    5,360
    Accumulated bonus
    4101 USD (What is this?)
    caught pokemons
    412 (What is this?)
    Thanks
    19,119
    Thanked 11,264 Times in 2,429 Posts
    SubscribeSubscribe
    Subsribed 1
    Update on 27th April 2021 (Update: 36)

    Hello everybody, yesterday my Crude oil positions hit the take profit level. However, Gold was almost flat and I've decided to close all positions for a small profit. I've made about $36.35 from my positions. The majority of profit came from Crude Oil positions. Just after hitting the take profit level Crude oil started to move towards up. I'm happy that I've got the desired profit from Crude oil.

    I've closed positions in Gold for a few reasons. First of all the price was almost flat and not moving in any particular direction. In the daily chart, I've seen some downward movements in Gold. So I had decided to close all positions in Gold with a small profit. A few minutes back I opened two positions in BTC and Crude Oil. Let's discuss it one by one

    My Closed positions (demo account)

    Name: Closed Positions.PNG Views: 365 Size: 36.1 KB

    My Current Positions

    Name: Current-Positions.PNG Views: 364 Size: 13.2 KB

    My Current Position in BTC

    The day before yesterday i.e. during the weekend I was not sure about the actual trend of BTC. Because the trend was strongly bearish. I had no intention to trade in the instrument due to uncertainty. But in the last two days, the price has been moving in an upward direction. At this time BTC is strongly bullish. So I've decided to open a buy position here with a 0.01 lot size order.

    I've opened the position at 54739.81. I've not put any take profit or stop loss. I'll try to put a stop loss and take profit later. If we look at the daily chart then we'll find that in the last two days the price is moving strongly up. In the 4 hours chart also we can see bull candles. More likely the price would go up to approach the immediate resistance, i.e. 56004.80. So my initial target is 56004.80. If the price can cross the resistance then it may hit the next resistance i.e. 58798.79.

    On the other hand, we can find strong support at 48738.81. However, there is no sign of downward movement at the moment. The price is already trading above 50k level i.e. the psychological level. If the price falls up to the 50k level then I'll open more buy positions there. The bias is strongly bullish.

    4 Hour's Chart

    Name: #BitcoinH4-Chart.png Views: 361 Size: 39.3 KB

    My Current Position in Crude Oil

    If we look closely at the 4 hours chart then we'll find that Crude oil has been moving in a very limited range. In the short term, we can see a bull rally. But the overall trend is bearish. Currently, the price is trading below the immediate resistance i.e. 62.62. I've opened a sell position just below the resistance i.e. at 62.38. The price is unable to cross the immediate resistance.

    On the downside, strong support can be found at 60.99. So my initial target will be 60.99. On the other hand, any upside movement is only possible if the price can break the 62.62 price level, i.e. the immediate resistance for today. However, I've not put any take profit or stop loss at the moment. If the price goes above 62.62 then the price may reach up to 63.27, i.e. 2nd resistance for today. If this happens then I may go for another sell order. But by looking at the current scenario I am very much sure that the price would fall from the current level.

    4 Hour's Chart

    Name: #CLH4-Chart.png Views: 356 Size: 33.4 KB

    My other trading plans for today

    Today or tomorrow I may go for opening a buy order in the EURUSD pair. But at the moment the price is moving down. If we look at the 4 hours chart then we'll find that the price action is forming higher high and higher low levels. Currently, the price is trading above the 1.2057 support level. If the price falls below the support then 1.2032 will be the next support. I'll try to open a buy order once the price falls up to the 1.2032 level.

    If the price goes up from the current level then I'll not open a buy order. Because the price is already standing at an overbought level. Look at the chart below where I've drawn a trendline. I'll try to open a buy order once the price hits the trend line. Or in case the price falls up to the 2nd support i.e. 1.2032, I'll go for a long position in this particular currency pair.

    4 Hour's Chart

    Name: EURUSDH4-Chart.png Views: 356 Size: 39.4 KB

    Rejected

  15. 9 users say Thank You to bidyut for this useful post.

    alimat1 (28-04-2021), apna_papa (27-04-2021), evanshad (27-04-2021), global20 (27-04-2021), Interlock (27-04-2021), rescue1122 (27-04-2021), ShantiMan (27-04-2021), Summy (27-04-2021), SweetRose (27-04-2021)

  16. #2728 You can automatically minimize the read posts in your account in the 'Forum Settings'
    I just can't quit pips!
    I am:
     
    bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut's Avatar
    Join Date
    Aug 2010
    Posts
    5,360
    Accumulated bonus
    4101 USD (What is this?)
    caught pokemons
    412 (What is this?)
    Thanks
    19,119
    Thanked 11,264 Times in 2,429 Posts
    SubscribeSubscribe
    Subsribed 1
    Update on 05th June 2021 (Update: 37)

    Hello everybody, on 27th May 2021 my one month ban period was over. Once again I'm here to update my trading journal. During the ban period, I was trying to do some trades in my bonus trading account. Unfortunately, I've lost the whole account due to a low balance and lack of proper money management.

    Bonus update

    Name: Bonus-For-Posting-03-and-04-June-2021.PNG Views: 356 Size: 6.2 KB

    Yesterday and the day before yesterday I got two week's posting bonuses. I've got about $2 in total as a posting bonus. Before this, I've also got the previous week's bonuses including the 'Best Answer's Contest' prize amount. The total amount I've received during the ban period is about $92.

    My current account balance (Bonus Trading Account)

    Name: My-Balance-05-June-2021.PNG Views: 183 Size: 5.5 KB

    Currently, my account balance is about $2.32 in my bonus trading account. At the moment I do not like to trade with this amount. Therefore, I'll try to trade in my demo account. Today I've opened a new demo account with a $500 account balance. My previous demo account was archived due to no activity. So I've decided to open a new demo account.

    My 1st order on 05th June 2021 (Demo Account)

    Name: #BitcoinH4-Order-No-438816183.PNG Views: 188 Size: 94.3 KB

    My last order was a buy order in BTC. I've opened my position at the 37796.82 price level with a 0.05 lot size. I've risked 10% i.e. about $50 from that trade. On the other hand, my TP was at 20% i.e. about $100. But I failed to get the desired profit from the position. The order details are as follows:

    Order Details

    Order no. 438816183
    Type: buy
    Size: 0.05 Lots
    Symbol: #bitcoin
    Opened Price: 37796.82
    S/L: 36796.91
    T/P: 39796.90
    Current Status: Hit Stop Loss Level (Lost about $50.00)

    Reason for trade: Before opening the order in BTC the price was going up. In the 4 hours chart, there was a clear bullish trend. So I've decided to open a buy order with a tight stop loss.

    Name: Stop-Loss-Hit-Order-No-438816183.PNG Views: 184 Size: 12.7 KB

    My 2nd order on 05th June 2021 (Demo Account)

    Name: #BitcoinH4-Order-No-438816418.png Views: 190 Size: 96.4 KB

    I've opened another position in BTC. This time I'm putting stop loss at about 256772 pips below the open price level. On the other hand, I've put Take profit at about 461242 pips. I may close the deal manually if the position gives me at least $100 profit.

    Order Details

    Order no. 438816418
    Type: buy
    Size: 0.05 Lots
    Symbol: #bitcoin
    Opened Price: 36467.32
    S/L: 33900.10
    T/P: 41079.74
    Current Status: In floating loss (-$32.55)

    Reason for trade: After losing the 1st order I've decided to open another position in BTC. We can see a big drop in the 4 hours chart. The price has already dropped to the lowest level. More likely the price would move higher from the current level. Even if the price hits stop loss level then I'll lose only $128.36. On the other hand, if the price hits TP level then I'll gain about $230.62.

    In this particular order, I've put stop loss at the 33900.10 price level. In the last 5 trading sessions, the price had not touched that much level. So I'm very much sure the price would be able to sustain above the stop loss level. On the other hand, I've put TP to a significant level which may bring some handsome profit. My TP level is at the 41079.74 price level.

    Approved

  17. 13 users say Thank You to bidyut for this useful post.

    amiron56 (05-06-2021), Anatoli Damien (05-06-2021), bappy4x (05-06-2021), fadilah (05-06-2021), Farnadus007 (05-06-2021), global20 (05-06-2021), Guestteam (05-06-2021), Honey Bee (05-06-2021), Interlock (05-06-2021), loaded-prof (05-06-2021), rescue1122 (05-06-2021), Romanrein (05-06-2021), SweetRose (05-06-2021)

  18. #2729 You can automatically minimize the read posts in your account in the 'Forum Settings'
    I just can't quit pips!
    I am:
     
    bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut's Avatar
    Join Date
    Aug 2010
    Posts
    5,360
    Accumulated bonus
    4101 USD (What is this?)
    caught pokemons
    412 (What is this?)
    Thanks
    19,119
    Thanked 11,264 Times in 2,429 Posts
    SubscribeSubscribe
    Subsribed 1
    Update on 07th June 2021 (Update: 38)

    Hello everybody, once again welcome to my trading journal. At the moment I'm doing some trades in my demo account. There are no important economic events for today. However, I've two running positions in two different instruments. The first position is at BTC. The other position is the GBPUSD currency pair. At the time of writing the positions are floating in a little negative. Let's discuss my current positions one by one.

    Update about previous position

    The day before yesterday I opened one buy position in BTC. After floating for almost two trading sessions the price is trying to go up. A few minutes back the position was showing almost $5 positive pips. I'll try to hold the position till it hits the TP level. The TP level is 41079.74. On the other hand, I've modified the stop loss level to reduce the risk. In case the price hits stop loss level then I'll lose about $89.89. I've put stop loss just below yesterday's low level. Yesterday the price was able to sustain above the 34771.81 price level. I've put the stop loss at 34671 i.e. 10081 pips below the 34771.81 price level.

    Name: BTC-Chart and Position.PNG Views: 184 Size: 106.0 KB

    Reason for holding BTC: I'm expecting that the price of BTC will rise soon. In the 4 hours chart, we can see clear bull candles. In the daily chart, we can see some stability at current levels. The price action suggests that the price will go up.

    Exit plan in BTC: I've already put the take profit level at 41079.74. In case the price won't go as per my expectations then I'll try to exit with positive pips. However, I'll try to hold till it gives at least $100 profit. Even if the price reaches 38505.00 price level it'll give about $100 profit. So my initial target will be at 38505.00.

    Update about today's position

    Today I've opened a sell position in GBPUSD pair with 0.10 lot size. The take profit level is at 1.4091 i.e. 53 pips away from the opening price level. On the other hand, stop loss is at 1.4175 i.e. 31 pips away from the opening price level. If the price hits the take profit level then I'll get about $5.30. In case the price hits stop loss then in such condition I'll lose about $3.10.

    Name: GBPUSD-Chart-and-position.PNG Views: 162 Size: 104.5 KB

    Order Details

    Order no. 438832317
    Type: sell
    Size: 0.10 Lots
    Symbol: GBPUSD
    Opened Price: 1.4144
    S/L: 1.4175
    T/P: 1.4091
    Current Status: Currently running in floating loss.

    Reason for trade: In the 4 hours chart I've seen clear downward movements. The price action suggests that the price will fall further. We can see a clear descending channel in the 4 hours chart. In the daily chart also we can see how the price has formed a downward slope. The price action has formed lower high and lower low levels in the daily chart. This is a strong indication that the price would fall further. So I've decided to open a sell order for this particular pair.

    Entry and exit levels: I've opened the sell order by observing the 4 hours candle chart. In the 4 hours chart when the price had broken the previous candle's low level, I opened the sell order. On the other hand, I've put stop loss just above daily high. The daily high level is at 1.4169 and my stop loss level is at 1.4175. On the other hand, my take profit level is at 1.4091 which is under the previous session's lowest level.

    Approved

  19. #2730 You can automatically minimize the read posts in your account in the 'Forum Settings'
    I just can't quit pips!
    I am:
     
    bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut's Avatar
    Join Date
    Aug 2010
    Posts
    5,360
    Accumulated bonus
    4101 USD (What is this?)
    caught pokemons
    412 (What is this?)
    Thanks
    19,119
    Thanked 11,264 Times in 2,429 Posts
    SubscribeSubscribe
    Subsribed 1
    Update on 08th June 2021 (Update: 39)

    Hello everybody, welcome to my trading journal. I would like to clarify that I'm not trading in my bonus trading account. Because I was away from posting for almost one month due to the ban. I've lost almost all the amount during that time. At the moment I'm doing some trades only in a demo account. Last week on 05th June 2021 I opened a demo account with a $500 account balance. On the same day i.e. on 05th June 2021, I opened one buy order in BTC with a 0.05 lot. Unfortunately, the position hit the stop loss level. After facing a stop loss hit I've opened another buy position in BTC with a 0.05 lot size.

    Update about previous position

    Yesterday I closed my BTC buy position manually with little loss. I've lost about $28.18 from this position.

    Reason for closing BTC position: I opened a BTC buy order in the hope that it'll give me some good profit. But the price was unable to show any significant upside movement in the last three days. At a time the price was able to show some profit. But later the price was unable to continue its upside movement. To avoid any unnecessary losses I've decided to close the position in little loss.

    Update about my other positions

    Yesterday I opened my 3rd order in GBPUSD. It was a sell order with a 0.10 lot size. Unfortunately, it hit the stop loss level. However, I've lost only $3.10 from this particular position. I've opened the sell position at 1.4144. My take profit level was at 1.4091 and stop-loss was at 1.4175 price level. Unfortunately, the price didn't move as per my expectations and hit stop loss level.

    Name: My previous positions.PNG Views: 124 Size: 7.5 KB


    Update about my current positions

    Name: My current positions.PNG Views: 132 Size: 106.0 KB

    Yesterday I've opened few sell orders in EURJPY currency pair. In total, I've opened 5 sell orders in EURJPY with 1 lot each. All positions are now running with floating loss. I've opened all positions at different levels. My order details are as follows:

    Order Details

    1st Order

    Order no. 438852406
    Type: sell
    Size: 1 Lot
    Symbol: EURJPY
    Opened Price: 132.95
    S/L: 133.45
    T/P: 132.49
    Current Status: Currently running in floating loss.

    2nd Order

    Order no. 438859108
    Type: sell
    Size: 1 Lot
    Symbol: EURJPY
    Opened Price: 133.00
    S/L: 133.45
    T/P: 132.49
    Current Status: Currently running in floating loss.

    3rd Order

    Order no. 438859805
    Type: sell
    Size: 1 Lot
    Symbol: EURJPY
    Opened Price: 133.08
    S/L: 133.45
    T/P: 132.49
    Current Status: Currently running in floating loss.

    4th Order

    Order no. 438861529
    Type: sell
    Size: 1 Lot
    Symbol: EURJPY
    Opened Price: 133.21
    S/L: 133.45
    T/P: 132.49
    Current Status: Currently running in floating loss.

    5th Order

    Order no. 438864221
    Type: sell
    Size: 1 Lot
    Symbol: EURJPY
    Opened Price: 133.25
    S/L: 133.45
    T/P: 132.49
    Current Status: Currently running in floating loss.

    Reason for trades: Before opening the orders I observed that the price of EURJPY was moving strongly towards down. In the 4 hours chart, there was a strong bearish slope. In the daily chart also we can find a strong bearish trend. However, the price was unable to continue its downward movements. I've tried to open more sell orders when the price was moving towards up. At the moment my positions are showing about $84.31 floating loss.

    My exit levels in EURJPY: I've put stop loss at 133.45 for all positions. On the other hand, I've put the take profit at 132.49 for all positions.

    Approved

Reply to thread
Page 273 of 286 268 271 272 273 274 275 278

Subscribed to this Thread : 11

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts