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  1. #1
    Active Member Ronye's Avatar

    Rony's Trading Journal !!!

    Hello to everyone

    I want to start my own diary while help me become a better trader.

    Here i want to ask questions, ask for advice and last but not least I will post my trades.

    From the beginning I want me to focus on maximum two currency pairs because i want to learn, to read better the charts and i want to maximize my profits easier.

    The first pair that I choose will be USD / JPY. When i will master this pair i go to the second one which will be EUR/CHF i think. Here at second pair i'm waiting for your opinions and sugestions because i'm not fully decided yet.

    Also i'm waiting for your opinions and suggestions about USD/JPY, when is better to trade this pair, what indicators works best with it, where to be careful etc

    I want to say that i'm most a tehnichal trader but i'm aware at news and i dont trade when there are news which can affect the pair. My favorite expire times are 5-30 minutes. I want to use 4 TF to identify trends and momentum and when to enter the market. Also here i need your sugestions and opinions.

    That being said i get to work now.

  2. #2
    Legendry Member Okane's Avatar
    Hey. Good job, diary will help you for sure!
    USDJPY is volatile and you can try it for now. Don't bither thinking about a second asset for now. But a suggestion is NZDUSD because it trends well and I think its newbiefriendly.
    Share with us here which strategy you are going to test!
    which indicators work for you best I can't say. You have to find out on your own. However I like stochastic oscillator but also recommend RSI and one or 2 EMA's 50/200.

  3. #3
    Active Member Ronye's Avatar
    My second asset will start when i will ''master'' this pair, in 6 months maybe more.

    NZD/USD maybe is friendly but i don't have it at Stockpair,so i need to look elsewhere, but how i said above, is not my problem right now.

    For my strategy i have in mind to set my chart at 4h, 1h, 30m,15m,5m and 1m. 1m will be my enter signal. 4h and 1h will Be used to identify trend,s/r lines etc. I want to use 50/200 EMA and RSI on higher TF to see trend and If market is oversold or overbought. On Lower TF i want to use Stochastic, MACD, BB and RSI. On 1m i want to ușe SAR too. Also on higher TF i want to use pivot points.

    I will check the market and If IT is ranged i will stick with with longer expiry like 15-30 and if IT is volatility i put shorter expiry like 5-10m depends on the market.

    This are my first ideas for the moment. I will try to trade both off hours when volume is low and in hours when volume is high, IT depends how busy i am with my work and my personal life.

    Will Be continued. (Sorry for my english, is not perfect )
    Last edited by Ronye; 03-10-2015 at 08:41 PM.

  4. #4
    Legendry Member Okane's Avatar
    I think it is better to focus on only max 3 indicators. You will only confuse yourself.. trust me. You can use stoch and RSI with EMA on all time frames. Not a problem.

  5. #5
    Active Member Ronye's Avatar
    On 4hr chart i put 50/200 EMA for trend, pivot points, RSI(21) and MACD. On 1hr i added Stochastic (15.3.3) because dont give so many signals. At 30,15 and 5m i added BB to see volatility too. At 1m (which is for my signal i only left MACD and SAR because i see on other TF which is the trend long and short, how's the pair oversold or overbought or in which direction it moves and BB shows me if i have volatility or not. My pivots show me S/R so at 1m i only need indicators for signal and i took SAR and MACD because i see they give me good signals.

    Maybe are a little to many indicators but i will see as the time pass if i is too much for me or is ok.

    Now i pass to phase 2 which is test and improve or correct some errors.

  6. #6
    Active Member Ronye's Avatar
    Last evening when i come from work i opened MT4 to see how all this stuff work. After a while i decided to let on the chart only 3 indicators plus pivot points for S/R. I let only Stochastic, EMA's and RSI and i decided to delete 1min chart because is to much noise and even if with SAR i can't get the right signal at 1min. I decided to look at 5min for signal and i put my expire at 15-30 minutes depends on what i see on 15-30min chart on Stochastic, RSI and BB. Yes i let BB too to see better the volatility. Maybe i will change it with Volume indicator but for the moment i let BB up.

    Hope in the end to be able to make a decent strategy from where to start to improve. Right now i'm a bit confused with manual trading but this is also because i work and don't have enough time to spend on MT4

    Next week i'll have more free time and hope to test it more

  7. #7
    Active Member Ronye's Avatar
    Ok

    I put my first trade USD/JPY up 1 hour

    It touches Support 1 second time this day, Stochastic is Oversold both on 1h,30m,15m and 5m. In the long run trend is up. I decided to take a Call

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  8. #8
    Active Member Ronye's Avatar
    First one is a loss...

    No problem, next time

  9. #9
    Active Member Ronye's Avatar
    Back from work and back at work

    I have changed something. I put xPMA indicator from Gesthunga Tensho in place of the 2 EMA for trend identification. Now the trend is seen more easily. Soon after that i spotted 2 signals on 15 and 30 min charts and go down to 5 min for entry

    I put a call both at 15 and 30 min

    Both were winners

    My score right now 2-1.

    xPMA seems an interesting addition too

  10. #10
    Active Member Ronye's Avatar
    After i read more and more on the web about forex i found out that my approach for trading isnt quite good.

    First of all i used too many TF, second i used too many indicators and three i based 80% if not more only on indicators.

    After that i switched to only 3 TF. 4h to indentify trend 30 min because at 30 min i feel confortable to trade and 5m TF for entry signal.

    Ok first step for a restart in rethinking my strategy was done.

    Second

    I put xPMA on every chart to see the trend on 4h and at 30min and 5 min i use it more as a support or resistance line.

    I draw trendline channels, not only line, for trend. So i can use the channel as S/R lines too not only for trend.

    Third, i draw Fibonacci Retracement on every chart. Now i must say this tool is amazin for me at least. Give me something special. Used with chart paterns and candlesticks can do wonders. Also you have trend channels crossing with this lines which give a boost too. I think this is the main plus on my new strategy if i can say so.

    I put SAR too therem more for 5 min TF because it can give you entry signal sometimes, anyway it helps you with your entry signal sometime.

    And finally i've put an RSI at the bottom to see oversold and overbought areas and to help me a bit with my trend.

    After all was done i started to surf the charts to find trades on USD/JPY because this is my pair.

    I found 3 signals, all of them were ITM.

    So my starting score is 3-0 with my reborn strategy

    See what happens in the long run.

  11. Thanks Ronnel thanked this post

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