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Horne's journal

Horne

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Thought I would start my forex journal with this divergence trade on GBPCAD.
I do find it tricky to time the entry on these divergence trades. Initially I use put on a 15 pip sl and a 10 pip tp, but sometimes I feel like they need a bit more room to breath. This one was alright though for +10 back up to the cloud. I was considering a continuation if it came back down off the cloud but that never eventuated.
GBPCAD divergence.jpg
 

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Well done and good luck with the journal.

A couple of pointers if I may...

GBPCAD can move extremely quickly. If you want to keep tight stops, I'd say 20-25 pips at minimum.

GBPCAD has been in a steady downtrend on an intraday basis, I'd rather follow the trend than fight it.
 

Horne

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Thanks.
Pointers are always welcome and appreciated.
 

Horne

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Got in and out of this EURAUD continuation before London opened. +10
EURAUD continuation.jpg
 

Horne

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Had another crack at a continuation on GBPAUD, but this time it hit the -15 sl.
GBPAUD continuation.jpg
 

Horne

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looking back at the 23rd and 30 of last month, I should have expected that 1.82 level to act as a bit of resistance. Be more cautious around big round numbers in future..
 

Horne

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Decided to try use that 1.82 level to my advantage today and sold on the close of a range bar that found resistance there. +15
GBPAUD 1.82.jpg
 

Horne

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Saw this bullish divergence forming GBPCAD and took 2 trades - I'm glad to be out before BoE. Used an initial 20 pip stop so I was looking at trying to get at least 13.3 to keep the ratio the same. Average of the 2 was +14.7
GBPCAD Divergence.jpg
 

Horne

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Another thing I'm not great at is trying to time when to fade a volatile move, but managed to get +20 post BoE on GBPUSD.
GBPUSD Post BoE.jpg
 

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Are you working towards a target or doing as many trades as they come?
 

Horne

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Are you working towards a target or doing as many trades as they come?
I don't have a target, just taking them as they come.
Do you have a target as part of your trading routine? Trading for a living I assume you would have monthly/annual targets.
 

Horne

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Continuation on EURUSD. Set up occurred before London open, but it came back up to the level where I would like to have gotten in, granting me a second chance. +10
EURUSD continuation.jpg
 

Horne

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I've thought about looking at the Awesome Oscillator just focusing on the highs and lows and disregarding if they are positive or negative in value.
I saw a good example of looking at the AO in this way and spotting a hidden divergence, took the trade and came out +15.
I've changed the appearance of the AO to better illustrate just looking at the highs and lows as they correlate with price action.
EURUSD hidden.jpg
 

Horne

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And managed a conventional hidden divergence on EURAUD for +15 as well.
EURAUD hidden.jpg
 

Horne

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liking the hidden divergence, GBPUSD took +10.5 which I'm happy to be out of before GBP data coming out.
GBPUSD hidden.jpg
 

Horne

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Closed this EURAUD short just before EUR unemployment and GDP data for -14 (stop loss was at -15 which would have got taken anyway).
EURAUD hidden.jpg
 

Horne

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Bearish divergence trade on GBPCAD +20
GBPCAD bearish.jpg
 

Horne

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Washington's Birthday in the US today. Liked the look of this hidden divergence set up on EURUSD. closed for +10. Probably should have tried holding a bit longer for a bit more..
EURUSD hidden.jpg
 

Horne

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One of my unconventional set ups on GBPUSD. 90 minute trade for +13.
GBPUSD hidden.jpg
 

Horne

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I was going through a box of old stuff I hadn't bothered unpacking since moving to where we live now, and I came across my first trading journal. It was from a seminar I attended about 10 years ago, I didn't end up buying the Optionetics course (which I think was about 5K from memory) but they gave everyone who attended the seminar one of these journals as a free gift. I did record some of my attempts at option trading in it, but most of the pages still haven't been used.
traders journal.jpg
It gave me the idea to make this journal a bit more detailed with a consistent format and periodic reviews for statistics.
Starting next week.
 
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