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Thread: JMN's trading journal

  1. #71 You can automatically minimize the read posts in your account in the 'Forum Settings'
    Forex in the blood
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    Hi everyone!


    Its Thursday and the volume will start to dwindle until the weekend. Yesterday when I checked my trading account I saw another bonus distribution. This is inline with the expectation that many members have with the previous bonus distribution schedule. So Im sure the members are happy with this experience. If the forum will give another bonus either today or tomorrow then the members will be ecstatic about it. This shows that the forum is keeping true to its commitment as the bonus giver and helping people from all around the world to learn and earn. In the business world, this kind of act is called Good Will.

    I also want to take this opportunity to say

    THANK YOU!


    to the forum moderators, administrator, owner and sponsor broker InstaForex for this bonus. Im sure all of the members also share this same sentiment with me.

    I just want to remind the members just in case you are still confused on how to make a good post you can go to the guideline that I post right here.

    Ok, lets check my updates...



    CLOSED TRADES

    GBP/USD

    I closed my G/U trade that I opened Monday with a profit of +$7.48. The position was closed with a +74.8 pips profit. I closed it yesterday before the price turned around and now you can see that the price made that Big Bullish Pin Bar on the H4 time frame. I wanted to secure my profit and it turns out my decision was correct. The price might still go down but I would rather take the profit and then re-enter another trade due to the market condition yesterday. You can check my Full Weekly Analysis on GBP/USD in this post.

    Name: IMG_20210909_151451_186.jpg Views: 232 Size: 82.6 KB


    DOW30

    Yesterday I also opened and then closed a quick intraday trade on DJIA CFD. Originally, I wanted to use a Stop Order but I decided to just monitor the market and then use a Market Order after getting more hints. The market moved great yesterday across all the trading instruments and the DOW30 market also gave me a good hint so I was confident about this trade and it netted me +$15,530 profit. The position was closed with a +155.3 index point profit. I also put my Full Weekly Analysis on DOW30 in this post.

    Name: IMG_20210909_151451_186.jpg Views: 232 Size: 82.6 KB



    ACTIVE TRADES

    Today I am still flat. Maybe I will open a new position later if I can find something good.


    Please share your opinion on the GBP/USD or DOW30 market in the comment area under this post.


    Thank you for visiting and supporting my journal. Ill see you again tomorrow with a new update.
    Simple trading with me in my trading journal:
    https://investsocial.com/threads/325...7#post15273377

    Approved

  2. #72 You can automatically minimize the read posts in your account in the 'Forum Settings'
    Forex in the blood
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    Hi everyone!


    Today is the end of the week for us so the market volume across all trading instruments will start to slowly diminish. I hope all of you got a nice profit during this week or maybe even today. There is no high-impact news today from the U.S. other than the PPI. This economic indicator is an important number to determine the growth of business overall and it might act as a trigger for a Strong Market Movement for today (or it might go quiet too). As you all know, the forum gave us 3 rounds of bonus distribution during the past 2 trading weeks including this week so we should be thankful to the forum for giving us this gift so we can all make money while being active in this forum. If things go according to the previous weeks, there might be another bonus distribution today or maybe early tomorrow.

    Now, regarding my updates...



    CLOSED TRADES

    I got no closed trade until now.



    ACTIVE TRADES

    XTI/USD

    Today I have one active trade in the market and its in the OIL market. I saw a good trading opportunity from the Daily time frame. There was a Strong Rejection candle from yesterdays Daily candle and that candle closed below the Weekly open price and its lean toward the low level of several days already. This shows a hint that the price might go down toward the end of the trading week. I already post my Full Weekly Analysis on the OIL market in this post. Please check it out if havent seen it.

    Name: IMG_20210910_074105_065.png Views: 321 Size: 79.5 KB



    Please also share your opinion on the WTI/USD market in the comment box below.


    Thank you for visiting and supporting my journal today. Ill see you again in the next update.
    Simple trading with me in my trading journal:
    https://investsocial.com/threads/325...7#post15273377

    Approved

  3. #73 You can automatically minimize the read posts in your account in the 'Forum Settings'
    Forex in the blood
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    Hi everyone!


    Im glad its the weekend again, I think much of the pressure from the trading week is already gone by now unless you are trading the crypto because the crypto is basically open 24/7. But the fact that its open even during the weekend is also good because you can still manage your trade even while the other market is closed. The crypto market is having a lot of news these days and its been in the spotlight for some time now but I guess the direction is clear because it is also included in the futures market and you can trade it with volume information available for you just like the other futures markets. Some countries are trying to ditch the U.S. Dollar while trying to find ways to adopt cryptocurrencies.

    So far during the past 2 trading weeks, the forum surprises us with 3 rounds of bonus distribution and this is good so the overall trust among the forum members is very positive. Also, I noticed that the forum Administrators are working very hard to do things behind the scene. The replies from the Admins are also exceptionally fast these days and all of these things point to one thing and that is the forum is getting better and better. I also notice that the participants of the Best Answer Contest are getting more and more active even though the competition is becoming fiercer. But with more than $10k as the prize (currently it stands at $13,500), the competition is worth the effort. When I first participated in the contest the prize is not this much. Even so, I realized that the contest is not my cup of tea (because apparently there are people who can write a lot more than 1,000 words there and this is overwhelming for me) so I better start focusing on things that I know best.

    Now, regarding my updates...



    CLOSED TRADES

    I still have no closed trade until now.



    ACTIVE TRADES

    XTI/USD

    My trade in the OIL market is still floating but the condition is not looking that good because the price has already gone up too much. But the market has been moving in a Rectangle pattern so Ill see whether the market will go down after getting close to the Supply zone/ Resistance area later on or not. If it can close in a meaningful way beyond the Supply zone then I will close the trade manually. So Im giving the trade some room to breathe. However, if the price can go back down again, then I obviously will hold on to my trade. Later on, I will put my Full Analysis on the OIL market and I will put the link also. Maybe Im gonna do this on tomorrows post.

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    BTC/USD

    I have another trade that I just opened and its in the Bitcoin market. I opened a Buy position this time because of the gap that appeared and then the Strong Bullish Rejection candle on the Daily time frame. The area where it happened is also a Critical Area historically, so Im going in with a Bullish bias. Im also going to put my Full Analysis on the Bitcoin market tomorrow so you can all see the basis of my reasoning and the pros and cons of it.

    Name: IMG_20210911_194551_033.png Views: 137 Size: 93.0 KB



    Please also share your opinion on the XTI/USD or BTC/USD market in the comment box below.


    Thank you for visiting and supporting my trading journal today. Ill see you again next time.
    Simple trading with me in my trading journal:
    https://investsocial.com/threads/325...7#post15273377

    Approved

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  5. #74 You can automatically minimize the read posts in your account in the 'Forum Settings'
    Forex in the blood
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    Hi everyone!


    Okay, we are here on Sunday and the forex market open is just some hours from now. Im sure you are all boosted with a fresh mind and fresh energy to tackle what the market will give. Even those who are trading crypto are refreshed because the usual market movement during the weekend is not that strong even though there are also cases where the market does move strong. Those who are making a good profit last trading week must be careful not to lose that profit to the market again. Those who lose money last week must not rush a trade to avoid accumulating even more loss.

    Ok, lets go to my updates...



    CLOSED TRADES

    I have no closed trade until today.



    ACTIVE TRADES

    XTI/USD

    The trade that I have in WTI is still floating in loss but I could not do anything about it because the market is still closed. The price went up on Friday and Im caught in a losing position. However, I did not close the trade last Friday because there is still a chance to go up if you check the Daily time frame that I marked above. The Lower Lows and Lower Highs are still unbroken at least until now. If that Structure is broken then we might start thinking about the exit or do some trade management techniques to cover the loss. Yesterday, I told you that I will post my analysis and I did. To check my Full Weekly Analysis, you can go to this post so you understand the basis of why I opened this trade and held on to it.




    BTC/USD

    The other trade that I have is in Bitcoin. I still have this trade running because I think there is a chance that the market will bounce up again after the Strong Bullish Daily candle. There was a Market Gap also yesterday at the opening price. The crypto market sometimes acts differently than the other market due to the Bullish nature of the Hodlers. There is already a Structure Breaker for the Bears but due to the bounce candle, there is a sense that the market might go and make a Retracement first before going down. I have not posted any Weekly Analysis on this instrument but Ill include it later on the next post when I already submit it.

    Name: IMG_20210912_115300_792.png Views: 137 Size: 92.4 KB


    Dont forget to share your opinion on the XTI/USD or BTC/USD market in the comment box below.


    Thank you for visiting and supporting my trading journal every day. Ill see you again in the next update.
    Simple trading with me in my trading journal:
    https://investsocial.com/threads/325...7#post15273377

    Approved

  6. #75 You can automatically minimize the read posts in your account in the 'Forum Settings'
    Forex in the blood
    I am:
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    Hi everyone!


    The New Trading Week is here! The level of excitement is high among the traders in this forum. This trading week we have 3 High-Impact News Items coming out of the U.S. and they have the potential to trigger a big market movement. The data that we will have this week is the CPI m/m, CPI y/y, and Retail Sales.

    Ok, lets go to my updates...



    CLOSED TRADES

    XTI/USD

    The trade that I have in the OIL market was closed today because the market is not supporting my position. I was letting the position hanging for some days but I guess its time to let go and follow the mood. This position was losing money and I dont want to keep the bill up so I use Cut Loss with this trade instead of using a Hard Stop. Below is the screenshot for both XTI/USD and BTC/USD trades.

    Name: IMG_20210913_104843_033.jpg Views: 179 Size: 68.0 KB

    BTC/USD

    The position in Bitcoin was also closed. I dont see what I need to confirm that my position is valid so I closed the trade with a small loss. I also did not use a Stop Loss for this position but I use a Cut Loss instead. The market is unpredictable so traders must think quickly and take action fast before its too late. Check the picture above to see the losing trade.



    ACTIVE TRADES

    XTI/USD

    I opened a new trade in the OIL market and this time its a Buy Position and I put a Hard Stop Loss because Im taking this trade strictly from the Daily time frame and this kind of time frame needs to be checked if you dont want to let it loose with no SL in place. The OIL market is also known to be able to move very fast and very big so its all the more reason to put SL when you trade using the big time frame. I have put my Full Analysis on this trading instrument and you can see it here so you can understand the basis for my entry and the surrounding market condition.

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    XAU/USD

    I also have a new open position on the GOLD market with a Sell position. The price still has not broken the low of the previous market move but Im taking a risk by entering the market earlier. There is a chance that the market will turn around against me but I already put a safety net on this trade so Im not worried. You can see from the Daily chart that I marked that the market really have no power to bring the price up during the past 3 trading days following the price drop. Plus, the 3 candles are all Doji candles with a Bearish Pin Bar for the last candle on Friday. So if the market goes up then I will lose the trade but if it goes down I will be in profit. Check out my Full Analysis on the GOLD market in this post to get the overall market condition that I use as the basis of my trade.

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    BTC/USD

    The other trade that I have is in the biggest crypto market in the world, Bitcoin. The position is brand new because I just opened it today and Im going in with a Sell position. Im taking a risk by entering this trade but the price action currently is doubtful but leaning more toward a Bearish mood so I have to switch my bias to Bearish too. Yesterdays daily candle is not going with my expectation so Im reconsidering my previous position by opening an opposite trade.

    Name: IMG_20210913_104858_489.png Views: 123 Size: 92.6 KB



    Please do not forget to share your opinion on the XTI/USD, XAU/USD, or BTC/USD market in the comment box below.


    Thank you for visiting and supporting my trading journal until today. Well meet again next time.
    Simple trading with me in my trading journal:
    https://investsocial.com/threads/325...7#post15273377

    Approved

  7. #76 You can automatically minimize the read posts in your account in the 'Forum Settings'
    Forex in the blood
    I am:
    ----
     
    James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara's Avatar
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    Hi everyone!


    We have arrived at the 2nd trading day during the week and today we have CPI data coming out of the U.S. This might trigger the Strong Movement in several currency pairs that are still hanging and not making any impactful move yet. Today and tomorrow might be a good day for GBP traders because today we have data from the U.S. while tomorrow we have data coming from the U.K.

    Ok, lets go to my updates...



    CLOSED TRADES

    XTI/USD

    I had a couple of trades that got closed due to the Tight Stop Loss but the main problem was not the Tight Stop Loss its because I did not enter the trade earlier. The price of OIL in the spot market did go up according to my analysis but thats ok because there will be more trading opportunities later.

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    XAU/USD

    My trade in GOLD was also closed due to the Stop Loss getting hit. I wrongly opened a position yesterday, I was planning to open a Sell position but somehow I got distracted and entered a Buy position. I have one Buy position floating now but Im going to tell you in the active trade section.

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    ACTIVE TRADES

    BTC/USD

    I have one open position floating in the Bitcoin market and the price is currently wobbling up and down. My position is a Sell position and Im still going to hold on to it because of what happened yesterday where the Daily time frames candle showed me a Big Doji formation. This shows hesitation to go up even though yesterday the market moved up by a lot. If you see several of the latest candles on the Daily time frame you can easily notice that the candles have shadows above and below. This market condition tells us that there is indecision in the market and there is no commitment yet from each side of the market. I put my Full Analysis on Bitcoin yesterday and you can see it here. It will help you understand the basis for my entry and the surrounding market condition.

    Name: IMG_20210914_114838_340.png Views: 113 Size: 71.2 KB


    XAU/USD

    I also have a position in the GOLD market that I opened yesterday. Just like the Bitcoin market, the Gold market is also suffering from no commitment from the Bulls and the Bears. That is why you see 4 Daily candles in a row where they are stuck side by side with similar size. This is a cautionary market situation because normally what will happen soon is there will be a Stong Breakout and judging from the inability of the Bulls to drive the price up the breakout will go downward. You can check out my Full Analysis of the GOLD market in this post to get the overall market condition that I use as the basis of my trade.

    Name: IMG_20210914_114843_117.png Views: 113 Size: 76.2 KB



    Do not forget to share your opinion on the XTI/USD, XAU/USD, or BTC/USD market in the comment box below.


    I want to thank everyone who keeps visiting and supporting my trading journal until now. Ill see you all again next time.
    Simple trading with me in my trading journal:
    https://investsocial.com/threads/325...7#post15273377

    Approved

  8. #77 You can automatically minimize the read posts in your account in the 'Forum Settings'
    Forex in the blood
    I am:
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    James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara's Avatar
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    Hi everyone!


    Here we are again, Thirsty Thursday! Everyone is thirsty for more pips. We are already past the mid-week so I hope all of you have made a lot of profit by now. I was not able to make a post yesterday but today I saw in the forum some people posting their big withdrawals. Im happy for them and that kind of post will be able to motivate many people to give their best with the forum posting and also trading.

    Now, lets go to my updates...



    CLOSED TRADES

    GBP/USD

    Yesterday I took several trades but most of them were just quick scalping trades under 10 minutes and some are even under 2 minutes. For the scalping trades, I took them based on what was happening inside the candle (while the candle is still forming). The price was going up yesterday but I took a Buy position and also a Sell position. Both positions ended up in profit with the Buy position netting +$780 profit while the Sell position netting +$440 profit. You can check my Full Weekly Analysis on GBP/USD in this post.

    Name: IMG_20210916_132544_690.jpg Views: 103 Size: 76.6 KB


    DOW30

    Yesterday, I opened several scalping trades and this is one of the trades that I opened. The market was insane for this instrument for intraday trading or scalping. I netted +$250 profit from this position. For this quick scalping trade, I took advantage of the Price Burst at that time. If you do scalping or trade intraday, you will notice that there are times when the price abruptly moves very fast or very big, or both. Obviously, most of this kind of thing cant be seen from the candle because during the forming of the candle the price will move up and down before it closes. For more details on how I view this market, you can check out my Full Weekly Analysis in this post.

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    XAU/USD

    I also took a scalping trade on the GOLD market and this trade lasted for around 5 minutes only. The price of gold fell yesterday and failed to breach the 50 % level of the Big Bearish candle on the Daily time frame. However, I took a Buy position and it netted me +$600 profit. You can check out this link.

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    BTC/USD

    Yesterday, I also closed my trade on Bitcoin and I took a small loss on those 2 positions. There was no scalping trade on this crypto, I only closed the trades manually. There is really nothing special about these trades and I took it based on my Weekly Analysis in this post.

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    ACTIVE TRADES

    Now I am flat (no position). If I find something good I might enter a trade later today.


    Please share your opinion on the GBP/USD or DOW30 or XAU/USD market in the comment area under this post.


    Thank you for always visiting and helping my trading journal to grow. Ill see you again tomorrow.
    Simple trading with me in my trading journal:
    https://investsocial.com/threads/325...7#post15273377

    Approved

  9. 17 users say Thank You to James McNamara for this useful post.

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  10. #78 You can automatically minimize the read posts in your account in the 'Forum Settings'
    Forex in the blood
    I am:
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    James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara's Avatar
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    Hi everyone!


    Its the weekend and Im pretty sure that all of you are refreshed from all of your mental pressure while trading during the whole week. So this coming trading week we will have some hot items coming out from the U.S., E.U., and the U.K. The range for some of the markets in forex is very low as there is very little volatility. Normally, EUR/USD move in the range of 100 to 150 pips a day and those days are behind us because it is pretty clear if you see on your chart that even the GBP/USD only move around 70 to 100 pips a day these days while it was around 200 pips and even more in the past.

    Now, lets go to my updates...



    CLOSED TRADES

    EURUSDweek

    I finished with my requirement for the bonus account. I traded the EURUSDweek and I got a huge spread on all of those trades. But at least I am relieved that I already did my part to grow the forum. The screenshot is not taken because there are just too many trades. I dont know why InstaForex did not fill the order in one shot, my guess is there is just not enough liquidity to fill it in one shot. The other possibility is they want to limit the liquidity for each but this too seems unlikely.


    XTI/USD

    During the last trading week, I took trades in the OIL market. The market moved very well by falling a little bit at the beginning of the week and then rising up again towards the end of the week. I managed to get +$11.8 profit from 3 trades. The first profit came from a Buy position with +52 pips profit, the second profit came also from a Buy position with +48 pips profit, and then the last profit came from a Sell position with +18 pips profit. So, overall I got +118 pips profit from all three of them. I have not submitted my Full Weekly Analysis on XTI//USD but I will put the link next time if I already submit it.

    Name: IMG_20210926_124343_794.jpg Views: 352 Size: 70.1 KB



    ACTIVE TRADES

    Today I am flat (no position).


    Please share your opinion on the XTI/USD market in the comment area under this post.


    Thank you for always visiting and supporting my trading journal. Ill see you again on the next update.
    Simple trading with me in my trading journal:
    https://investsocial.com/threads/325...7#post15273377

    Approved

  11. 15 users say Thank You to James McNamara for this useful post.

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  12. #79 You can automatically minimize the read posts in your account in the 'Forum Settings'
    Forex in the blood
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    Hi everyone!


    Were off to a good start this trading week as the market picks up momentum from last trading week. With all the choppy markets there will be trending days. We didnt see any bonus distribution last trading week but all is well if you manage your account properly.

    Lets check the updates...



    CLOSED TRADES

    XTI/USD

    Yesterday I had several trades in this instrument and it got me some nice pips. The biggest winner yesterday were the 2 Sell positions which gained me +140 pips profit. Each of them gained me +70 pips profit but there were also some losing trades as you can see from the screenshot that I provided below. I havent put up the analysis for this trading instrument due to the time constraint that Im in.

    Name: IMG_20210928_134010_141.jpg Views: 61 Size: 78.4 KB

    Also, just before I wrote this I closed some consecutive trades that were not intended to be opened. There was a mistake that led me to open that many trades. The only positive thing from this is I quickly closed them manually and they ended up contributing some profit for me. The total accidental profit from this is around $29. Im not happy with the mistake but Im glad that it didnt go too far without me noticing it.

    Name: IMG_20210928_134013_292.jpg Views: 52 Size: 266.6 KB



    ACTIVE TRADES

    XTI/USD

    I have a pending order in the OIL market waiting to be executed. The order is a Sell Stop overlooking the towering height of the price. The market is also already in the All-Time High zone for this year so this is a crucial point for the big players. If the price can break and close above the Supply zone comfortably then we know it will go for more. If not, then we should look to the south for a potential price drop.

    Name: IMG_20210928_134015_532.png Views: 49 Size: 74.4 KB



    Dont forget to share your opinion on the XTI/USD market in the comment area under this post.


    Thank you for keep coming here and giving your support for my trading journal. Ill see you again in the next update.
    Simple trading with me in my trading journal:
    https://investsocial.com/threads/325...7#post15273377

    Approved

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  14. #80 You can automatically minimize the read posts in your account in the 'Forum Settings'
    Forex in the blood
    I am:
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    James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara has much to be proud of James McNamara's Avatar
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    Hi everyone!


    Yesterday the market moved well and Im sure many of you made a nice profit. The movement in GBP/USD and XTI/USD was particularly good as both of them are volatile instruments more so than the others. I was dividing my lot size to do some testing and that is why you see a small lot size for the Crude Oil trades in InstaForex. The test came out nice so far (almost 2 weeks now) so I will start picking up the pace by using the usual risk level. I also did some adjustments to the trade plan to reflect the trading conditions in InstaForex.

    Im currently running 2 trading strategies to catch different trading scenarios depending on the market condition and thankfully everything is working as it should be so Im excited to see how things will pan out.

    Im still very busy with some offline things so I could not really visit the forum members trading journals and Im sorry for that. However, I will try to squeeze some time today to go check all of your threads.

    Lets check the updates...



    CLOSED TRADES

    XTI/USD

    Yesterday I over-trade with Crude Oil and entered the market because I saw that the market is already at an extreme point for several months. I also mentioned this yesterday and the market finally dropped. Im sure the market will go down even more but I already closed my position to take my profit. The positions made me a nice +100 pips profit for all 37 trades so its +3700 pips profit in total. It might seem like a lot of trade but they are a tenth of the normal lot size. This resulted in a nice +$370 profit excluding commission for #CL trades. This is already more than a 30% profit on the account so I have nothing to complain about.

    Name: IMG_20210929_081539_875.jpg Views: 183 Size: 369.2 KB
    Name: IMG_20210929_081544_059.jpg Views: 52 Size: 70.0 KB


    GBP/USD

    I also closed GBP/USD trade manually today although I think the market will still drop more. The market is making a Breakout from the nice Big Market Structure which is the Descending Triangle. This market will continue to drop and you can see this from the strength of the drop in H4 and also in the Daily time frame. The position netted me +134 pips profit. However, on this trade, I only use a tenth of the normal lot size.

    Name: IMG_20210929_081547_877.jpg Views: 50 Size: 42.5 KB



    ACTIVE TRADES

    XTI/USD

    I have 2 positions currently floating in the market and they are both Sell positions. The market is already exhausted from all the buying and now its time for the big players to take their profit off the market. The drop might go as deep as the chart that I marked below. The price might also only drop until the Support area. No matter what, there is still more than enough profit to be made from this market drop.

    Name: IMG_20210929_081936_255.png Views: 49 Size: 83.5 KB



    Please share your opinion on the XTI/USD or GBP/USD market in the comment area under this post.


    Thank you for keep coming back here and showing your support for my journal. Ill see you again next time.
    Simple trading with me in my trading journal:
    https://investsocial.com/threads/325...7#post15273377

    Approved

  15. 18 users say Thank You to James McNamara for this useful post.

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